The auction is for this rare extra large nugget of the Bitcoin Block:
BTCC Mint - Bitcoin Block
Block #: 418,402
Address: 16AEBbzXfBuZb6atJu5coDMxtqGR8ieCoK
Bitcoins:
26.03392740
Transaction:
https://blockchain.info/tx/0d36ca5eb506babc58650d42a42e28f1aef1cf5b6d043c3b4c88b933c464efbeThis is a rare piece: the largest natural block that we have mined so far for this product! And it's very likely going to be the largest we'll ever mine, as we'll only mine roughly 100 pieces of the 25+ nuggets before the block halving. (I can't say it's the largest block ever mined, but certainly, it's very rare to see a block with over 26 BTC in size.)
Here's the product link, and these Bitcoin Blocks are all selling for 30 BTC in our store:
https://store.btcc.com/products/2016-n-series-bitcoin-blockAuction terms:
- You are bidding for the whole block, with nice solid wood etuis, and free shipping worldwide
- Auction is starting now!
- Auction end is the block-halving time, once block 420,000 is found, as per forum time (current ETA is 09 Jul 2016 around 15:00 hours UTC)
- Payment is in Bitcoin only, and final payment details will be coming later
- Starting bid is 1.00 BTC, No reserve auction!
- Bid increment is 0.10 BTC
- No sniping! Every bid within 15 minutes of the auction end will extend the auction another 15 minutes
- Winner has
3 days (72 hours) to make payment [revised; was 24 hours]
- Shipping will take place around July 15
I think these rules should cover everything. I'll update and clarify as needed.
Thanks,
Bobby
Update #1: Clarification about Auction Ending TimeAs specified, this auction ends after the 420,000 block is found (the main chain one, in case there is an orphan).
However, we also have the no-sniping rule in place, which extends the auction by 15 mins after the last bid.
So in some sense, there is a random ending time to this auction.
What does this all mean?
At auction end time, whenever block 420,000 is mined,
the last bid could be the direct winner if block 420,000 was found more than 15 minutes after the posting of the last bid. If block 420,000 was mined within 15 minutes of the last bid, then we are now officially in "over-time", where additional bids can come in within 15 minutes of each other. Once 15 minutes lapses, I will declare the then-last bid the auction winner.
So in other words, as soon as block 419,999 is mined, the auction could end at any time. Please be sure to put in your bids by then, such that you don't miss out. (We routinely see block being mined within seconds of each other.)
Update #2: Payment address for winnerFor the winning bid by user
Otoh, please send your
BTC32.00 to this address:
1Nhd5a2knhzY1qVmKi3kDYVdiR2cgqJPdG
Some photos of this product first:
Here's the specific photo of this block #418,402:
