[AUCTION] BTCC artist’s proof One Bitcoin coins (five available)

[BTCC_Official]

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End of Auction Update

Congratulations Blazed and Otoh for winning the auction. Please pay 1.85 BTC for each coin you won, three for Otoh (5.55 BTC in total) and two for Blazed (3.7 BTC in total). The payment address is:

1Nhd5a2knhzY1qVmKi3kDYVdiR2cgqJPdG

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Current 5 Highest Bids - updated through post #61.
- 2.0 - Otoh
- 2.0 - Otoh
- 2.0 - Otoh
- 1.85 Blazed
- 1.85 Blazed
   ^-------- All 5 auction winners will pay the same "lowest of 5" bid, marked here.


We’ve seen a lot of interest in the artist’s-proof One Bitcoin coin over the past few weeks, and are now holding an auction for the coins here. Details are as follows:

* Product Name: One Bitcoin, Artist’s Proof


* Product Description: This is a limited-edition gold-plated brass coin that we made as an artist-proof while considering material choices for the BTCC Mint One Bitcoin. This is a pre-production item. Less than 100 of these coins were made. Five coins in total will be sold. This item comes in an acrylic case and premium BTCC envelope.

***Please note that this is a pre-production item with significant blemishes, some scratches, uneven coloring, and other imperfections.****


* Bitcoin content: Loaded with 1.0 BTC, freshly mined from BTCC Pool in early 2016 (coinbase transaction)


* Specifications:

Diameter: 43 mm

Thickness: 3.50 mm  

Weight: 40 grams

Material: Gold-plated brass


* Auction Terms:

- The auction starts now and end at 3:00 PM (UTC) on Tuesday, November 29th, 2016.


- The auction will be held as follows:


1. Interested buyers should submit individual bids for the coins.

2. The bids are sorted in descending order.
(Updated with Clarification: bids of same amount will be honored on first-come, first-served basis.)

3. Buyers with the five highest bids win the auction.

4. Each winning buyer pays for the coin at a price equal to the lowest of the five winning bids.
(Updated with Clarification: this means that the highest bidder may not need to pay the amount of his/her bid, but rather just pay the amount of the 5th winning bid.  Usually, the 5th winning bid would be lower than the 1st winning bid, unless all 5 winning bids are of the same amount.)


- The starting bid is 1.15 BTC.


- The bid increment is 0.05 BTC.


- Payment is in bitcoin only. Payment details will be posted here in the OP after the auction finishes.


- No sniping! Every bid (on any coin) within 15 minutes of the end of the auctions, will extend the full auction for another 15 minutes.


- Winners will have 3 days (72 hours) to make payment.


- Shipping will take place once payment has been received.


- Free economy shipping is included. We will ship to you via China Post (Air), which takes up to two weeks to reach most destinations worldwide.


- Optional: Winners can choose to upgrade to FedEx Priority shipping, by paying an extra 0.06 BTC per coin.  This FedEx Priority shipping will reach most destinations within two days.


Good luck bidding!

[1714836692]

1714836692

[1714836692]

1714836692

[1714836692]

1714836692

[1714836692]

1714836692

[miffman]

Hi BTCC_Official;

Could you please explain rule 4 further? - 4. Each winning buyer pays for the items at a price equal to the second highest bid.

Do winners 3,4,5 pay the same price as winner 2?

[Hhampuz]

1.15

[TheNewAnon135246]

Hi BTCC_Official;

Could you please explain rule 4 further? - 4. Each winning buyer pays for the items at a price equal to the second highest bid.

Do winners 3,4,5 pay the same price as winner 2?

That would make no sense  . Paying more than you're willing to offer....

[chronicsky]

Hi BTCC_Official;

Could you please explain rule 4 further? - 4. Each winning buyer pays for the items at a price equal to the second highest bid.

Do winners 3,4,5 pay the same price as winner 2?

I will also be interested to know that before bidding
But if that's the case , am not sure that am interested.
I mean if i bid 1.3 btc and the last second bid is 1.8 for and for some reason i won - why would i pay extra?
that's not how multiple bidding Auction works

[BTCC_Official]

Hi BTCC_Official;

Could you please explain rule 4 further? - 4. Each winning buyer pays for the items at a price equal to the second highest bid.

Do winners 3,4,5 pay the same price as winner 2?

That would make no sense  . Paying more than you're willing to offer....

Sorry, that was a typo. It's actually supposed to be "4. Each winning buyer pays for the coin at a price equal to the lowest of the five winning bids."

We corrected it now.

[chronicsky]

1.2 BTC

[coin@coin]

So that means we can submit the same bid as someone else too because there are 5 coins right?

If that's the case I go for it.

1.15 BTC

[Hox]

2 @ 1.15

[bithalo]

1.2

[Hox]

2 @ 1.2

[Seccour]

1.2

[BTCC_Official]

1.2

To help people better understand the rules of this auction:

At the time of this post, the 5 winning bids are:

1) 1.2 - chronicsky
2) 1.2 - bithalo
3) 1.2 - Hox
4) 1.2 - Hox
5) 1.2 - Seccour        <-------- All 5 auction winners will pay the same "lowest of 5" bid, marked here.

Here, Seccour has placed the 5th bid of 1.2 BTC.  At the time of this post, Seccour has placed a successful bid that's placed in the top 5, at position #5, for the amount of 1.2 BTC.  It just happens that all 5 "winning bids" at this time, are all of 1.2 BTC.  If the auction were to end now, then these 5 people would win the auction, at the 1.2 BTC price, which is the "lowest of the 5 winning bids" (as bid by Seccour).

For the rest of you, if you want to make a successful bid, then you would now need to bid at least 1.25 BTC, at which point your bid will go to the top, and become the #1 winning bid.  With that, Seccour will fall off the list, and the new #5 would be Hox.  If the auction were to end at that time, then the top 5 people would still win the auction at the same price of 1.2 BTC, despite the fact that the highest bidder placed a bid of 1.25 BTC (or more).

So short answer: don't place any more bids at 1.2 BTC as none of those would get you into the "top 5" now.  
At this point, only bids at or above 1.25 BTC would qualify.

(Another hint: bid a higher amount to guarantee you remain as #1, so that you won't get knocked off easily.  And the best part is that when you win the auction, you still only have to pay the price of the lowest of all 5 winning bids, and not your "highest bid".)

Happy bidding! 

thanks,
Bobby

[Hhampuz]

So with these rules we might just see a 1000btc bid since that will most likely be the highest but never the lowest so no need to worry about paying up 1000btc , yet guaranteed to win a coin?

[BTCC_Official]

So with these rules we might just see a 1000btc bid since that will most likely be the highest but never the lowest so no need to worry about paying up 1000btc , yet guaranteed to win a coin?

yes, mostly so.

Unless you guys get crazy and the other 4 winning bids all somehow also choose to bid like 1,000 BTC! 

Obviously, only bid what you intend and can afford to pay (in the worse case).

thanks,
Bobby

[Hhampuz]

So with these rules we might just see a 1000btc bid since that will most likely be the highest but never the lowest so no need to worry about paying up 1000btc , yet guaranteed to win a coin?

yes, mostly so.

Unless you guys get crazy and the other 4 winning bids all somehow also choose to bid like 1,000 BTC! 

Obviously, only bid what you intend and can afford to pay (in the worse case).

thanks,
Bobby

Hehe, would be interesting if that happened, I'm not planning on placing such a bid, was mostly for clarification purposes that I pointed it out, now that you mention to only bid what you can pay seems to be a good point that should be seen by all bidders

[Zepher]

1 @ 1.25

[BTCC_Official]

1 @ 1.25

Hi Zepher,

I've updated your bid, and now you're #1:

Current 5 Highest Bids - updated through post #17.

- 1.25 - Zepher
- 1.2 - chronicsky
- 1.2 - bithalo
- 1.2 - Hox
- 1.2 - Hox       <-------- All 5 auction winners will pay the same "lowest of 5" bid, marked here.


At this point, a valid bid would need to be at least 1.25 BTC.
and if you do bid 1.25 BTC, you would go into position #2, after Zepher, as he bid the 1.25 BTC before you.
(if you bid at 1.3 BTC or higher, then you would go into position #1, above Zepher.)

thanks,
Bobby

[Zepher]

Hi Bobby

Like plenty of other members, I did not quite understand the format of this auction to begin with. It all makes sense now though

An interesting and fair way of distributing the last of these coins, so thanks for doing something different

Thanks!!

[Hellot]

This is silly.  I'll wait for one to turn up on the secondary market so I can see the actual coin.