[ETH] All Pay Auction - allpay.auction - 30eth up for grabs

[allpayauction]

WARNING: Do not send directly from Exchanges or Wallet Contracts. Send to the contract using only personal addresses.

BRAND NEW SITE http://allpay.auction

The contract address is: 0xafcb0ca8f05c5374a4d11f4197fc25f51a76813d

live.ether.camp URLs:
MasterAuction Contract (Only send ether here)

• Auction 0

To send using geth or eth:
eth.sendTransaction({from: eth.coinbase, value: web3.toWei(1, 'ether'), to: '0xa9e4e3b1da2462752aea980698c335e70e9ab26c', gas: 500000})

• A new auction begins when the first bid is made. A first bid of 0 ether is accepted.
• An auction ends when there has been 24 hours without a new bid.
• Because this is an all-pay auction, you pay the amount you bid regardless of whether you are the winner.
• As with a standard auction, the highest bidder at the end of the auction receives the ether for sale.
• If you make a bid that is not higher than the highest bid, your bid will be ignored and you will be refunded.
• The ether for sale will be sent to the winner when the first bid is placed on the next auction.
• The ether for sale in an auction is the total ether bid in the previous auction (minus a small fee).

The contract has been verified by Etherchain as you can see here:
https://etherchain.org/account/0xafcb0ca8f05c5374a4d11f4197fc25f51a76813d#code


If you have any question, please feel free to ask, I am more than happy to answer.

[Quartx]

So says Auction is for 30 ETH

A bids 5

B bids 10

C bids 12

D bids 15

After 24 hours, D wins, gets 30 ETH, meanwhile, you profit 12 ETH off nothing?

Call it a ponzi, not an auction

[allpayauction]

Not quite. After 24 hours, D wins, gets 30 ETH. Because there was 42 ETH of bids, the owner of the contract now controls 4.2 ETH (10% fee), and a new auction starts fresh with 37.8 ETH (90% or 42 - 4.2).

[vitty]

Not quite. After 24 hours, D wins, gets 30 ETH. Because there was 42 ETH of bids, the owner of the contract now controls 4.2 ETH (10% fee), and a new auction starts fresh with 37.8 ETH (90% or 42 - 4.2).

so ... erm.. i dont get it. player D wins 30 eth from thin air? its a gift from allpayauction?

next step auction starts with 37.8 eth to win 30 eth?


edit:  "Because this is an all-pay auction, you pay the amount you bid regardless of whether you are the winner."
so if im not a winner - i can kiss the dust?  its like a .. to buy an unlucky lottery ticket, right?

[allpayauction]

Yes, the initial 30 ETH is a gift from allpay.auction.

In the above hypothetical situation, the next auction would have 37.8 ETH for sale which all goes to the highest bidder.

[Sileniced]

You can put two contracts into one contract? How does that work 

[allpayauction]

A contract can create another contract. In this case, the AuctionMaster contract creates a new Auction contract for every auction. This does make the gas usage higher, but I found that it simplifies the code significantly.

[Quartx]

I would love to see the winner of said auction 0 that is not another address by you in 24 hours time.

[greymatter]

no BetGod, just no

[allpayauction]

First auction has finished!

Ether Sold: 30 Ether
Highest Bid: 3 Ether
Bid Count: 5

[.cryptic.]

another ponzi ?

[Quartx]

another ponzi ?

Until someone else owns up winning the first round and it is not a new member it can safely be said that he is the one paying himself, aka he made the 3eth bid and got his original 30 + the other bids knowing that no one else would play his ponzi

[allpayauction]

I have never bid in the auction (and never will). I will add a link on the website to see if the winner comes forward here.

The next auction is active, at this stage it will end in a little over 2 hours.

Current Highest Bid: 0.1 ether
Ether for Sale: 4.71366 ether

[.cryptic.]

I have never bid in the auction (and never will). I will add a link on the website to see if the winner comes forward here.

The next auction is active, at this stage it will end in a little over 2 hours.

Current Highest Bid: 0.1 ether
Ether for Sale: 4.71366 ether

still going?

[clangtrump]

no BetGod, just no

Lol for you everything is Betgods fault?

You hacked his PC, and stole his money, admit it already, you are rubixis alt account!

[allpayauction]

Current Auction

Current Highest Bid: 0.000000000000438756 ether
Ether for Sale:  0.00009 ether

Bid Here

[.cryptic.]

Current Auction

Current Highest Bid: 0.000000000000438756 ether
Ether for Sale:  0.00009 ether

Bid Here

Who was the last winner? Was it someone from this forum?

[allpayauction]

Current Auction

Current Highest Bid: 0.000000000000438756 ether
Ether for Sale:  0.00009 ether

Bid Here

Who was the last winner? Was it someone from this forum?

There has only been 2 unique winners so far (You can see the list at the bottom of the page at http://allpay.auction/):
0xe39d0c42d7e7215e666e1517b351094becf3e3a6
0x613f58d4d065b50923425dfbf01a2c781735b8e3

[allpayauction]

I'm looking to change a few things with the auction and rerelease. Before I do that, I'm interested in hearing any suggestions for how the auction could be improved.

One idea to get things rolling is adding a bitcoin bridge.

[freether]

I'm gonna review the code.