ASICMINER Auction: 10 Block Erupter Blades -ended-

[SebastianJu]

1@70

How serious should we take an offer from a forum member with no reputation?

Does it matter? If they don't pay, there are plenty of fall back bids.

Its a problem. Think about it. Price at 60BTC. The bidder that wants to win bids 10@61BTC. Then he goes in with a fake account and bids 10@210. He knows that he wont pay the higher bid so that he will get all miners for 61BTC. Effectively forcing out all other bidders because they cant bid anymore. Theres no protection yet except reputation or something. But i think many users here on the forum have many different forum accounts. And are they only created for getting the ripple giveaway.

[1714058293]

1714058293

[1714058293]

1714058293

[1714058293]

1714058293

[Prototype]

If the problem is the concern about fake account, then why not price the units at a static price? Use the pricing model that Avalon used for their machines. If that isn't good enough then the potential for sales over time will be eroded by additional competition and diminished returns from increasing difficulty as more ASICs come online. Strike while the iron is hot, make the money and remain competitive in the market. If the prices are out of whack and everything is dragged out with auctions then others will have time to refine products and get them out the door to willing buyers. Simple economics.

[ShireSilver]

If the problem is the concern about fake account, then why not price the units at a static price?

The whole point of the auction is to figure out what the price should be.

[SebastianJu]

If the problem is the concern about fake account, then why not price the units at a static price? Use the pricing model that Avalon used for their machines. If that isn't good enough then the potential for sales over time will be eroded by additional competition and diminished returns from increasing difficulty as more ASICs come online. Strike while the iron is hot, make the money and remain competitive in the market. If the prices are out of whack and everything is dragged out with auctions then others will have time to refine products and get them out the door to willing buyers. Simple economics.

Surely you are no shareholder. If avalon wants to churn out machines for low money that later sell for a multiple on ebay its their thing. Asicminer wont do this.

[JaredR26]

1@70

How serious should we take an offer from a forum member with no reputation?

Does it matter? If they don't pay, there are plenty of fall back bids.

Its a problem. Think about it. Price at 60BTC. The bidder that wants to win bids 10@61BTC. Then he goes in with a fake account and bids 10@210. He knows that he wont pay the higher bid so that he will get all miners for 61BTC. Effectively forcing out all other bidders because they cant bid anymore. Theres no protection yet except reputation or something. But i think many users here on the forum have many different forum accounts. And are they only created for getting the ripple giveaway.

I think requiring a deposit from unknown members(to John) to show that they mean business is a good idea.

[oaxaca]

Obviously this discussion should happen, but not in this thread.  You can't really change the rules after the auction has started.

1@70

How serious should we take an offer from a forum member with no reputation?

Does it matter? If they don't pay, there are plenty of fall back bids.

Its a problem. Think about it. Price at 60BTC. The bidder that wants to win bids 10@61BTC. Then he goes in with a fake account and bids 10@210. He knows that he wont pay the higher bid so that he will get all miners for 61BTC. Effectively forcing out all other bidders because they cant bid anymore. Theres no protection yet except reputation or something. But i think many users here on the forum have many different forum accounts. And are they only created for getting the ripple giveaway.

I think requiring a deposit from unknown members(to John) to show that they mean business is a good idea.

[John (John K.)]

Yeah, a deposit would a good way to solve this - but the auction is already on. Please note that I will be deleting thread-crapping posts or obviously trolling bids to keep this thread on track. Anyhow, I am sure that yochdog for one will honor his bids, thus effectively placing the auction at a minimum of 10@60. There's still no reason to doubt other bids though - there's still a long time to go for the auction to end.


Courtesy recap of potential winners:

delaria	BTC70
alexuk	BTC65
marto74	BTC62
LainZ	BTC61
bajanboost	BTC61
Derringer	BTC61
Derringer	BTC61
afro25	BTC61
bitsalame	BTC60
yochdog	BTC60

Time left:

Timer removed. End time: 2013-04-19+16:00:00

[MikeMark]

Hey, this is BTCitcoin.

If there's a need to prove that you are a legit bidder, issue all bidders a random 3 or 4 digit number by PM. That number of Satoshis must be sent to friedcat from an address having enough BTCitcoin to satisfy the bid. That will confirm availability of funds. If the funds aren't there, reject the bid.

Bidding can remain public while bid confirmation can be private.

Bidders at high price auctions are usually required to prove they are legitimate, often with a bank letter, but sometimes with a deposit.

I'm actually surprised this hasn't become the norm here yet.

[John (John K.)]

Hey, this is BTCitcoin.

If there's a need to prove that you are a legit bidder, issue all bidders a random 3 or 4 digit number by PM. That number of Satoshis must be sent to friedcat from an address having enough BTCitcoin to satisfy the bid. That will confirm availability of funds. If the funds aren't there, reject the bid.

Bidding can remain public while bid confirmation can be private.

Bidders at high price auctions are usually required to prove they are legitimate, often with a bank letter, but sometimes with a deposit.

I'm actually surprised this hasn't become the norm here yet.

A couple of auctions here last time required deposits just in case the bidders were joybidders. I'd let this go for the moment as friedcat didn't think about this before, but anyone who tries joybidding will be posted to the Scammer accusation subforum at the very least now.

[Pinwheel]

2@61

[John (John K.)]

Courtesy recap of potential winners:

delaria	BTC70
alexuk	BTC65
marto74	BTC62
LainZ	BTC61
bajanboost	BTC61
Derringer	BTC61
Derringer	BTC61
afro25	BTC61
Pinwheel	BTC61
Pinwheel	BTC61

Time left:

Timer removed. End time: 2013-04-19+16:00:00

[JordanL]

1 @ 62

[John (John K.)]

Courtesy recap of potential winners:

delaria	BTC70
alexuk	BTC65
marto74	BTC62
BlackLilac	BTC62
LainZ	BTC61
bajanboost	BTC61
Derringer	BTC61
Derringer	BTC61
afro25	BTC61
Pinwheel	BTC61

Time left:

Timer removed. End time: 2013-04-19+16:00:00

[julz]

2 @ 31

Yeah, it's a lowball offer - but I'm just helping provide a datapoint for 'price discovery'. 
Even at that price I feel it's an extravagant (for me) risk. 

[ar9]

2 @ 31

Yeah, it's a lowball offer - but I'm just helping provide a datapoint for 'price discovery'. 
Even at that price I feel it's an extravagant (for me) risk. 

What's the point of this bid when the lowest you can bid to win these is 61 BTC?

[John (John K.)]

2 @ 31

Yeah, it's a lowball offer - but I'm just helping provide a datapoint for 'price discovery'. 
Even at that price I feel it's an extravagant (for me) risk. 

What's the point of this bid when the lowest you can bid to win these is 61 BTC?

No idea on this. Please do not clog up the thread with such bids - I've deleted a couple of '1@0' and '1@0.1' when the bids were around 50-60...

[JordanL]

2 @ 31

Yeah, it's a lowball offer - but I'm just helping provide a datapoint for 'price discovery'. 
Even at that price I feel it's an extravagant (for me) risk. 

What's the point of this bid when the lowest you can bid to win these is 61 BTC?

No idea on this. Please do not clog up the thread with such bids - I've deleted a couple of '1@0' and '1@0.1' when the bids were around 50-60...

0.1BTC tip to the dealer for keeping control of the table!

Expect it... as soon as Blockchain.info gets their shit back online so I can use my hot wallet. 

[julz]

2 @ 31

Yeah, it's a lowball offer - but I'm just helping provide a datapoint for 'price discovery'. 
Even at that price I feel it's an extravagant (for me) risk. 

What's the point of this bid when the lowest you can bid to win these is 61 BTC?

The point is what I stated above:
 'a datapoint for price discovery'
 - in other words - to help those in the business of selling these things, to note that not everyone who is in the market for mining gear (which I still potentially am, depending on offerings) will pay those prices.
I consider the risk of large amounts of hashing power coming online to make the prices of 60BTC way too risky. I may well be wrong of course.

The drawcard for this particular sale, and my guess why it's gone so high is that there is presumably quick shipment, but even then you have to weigh up the risks of problems in shipment, including taxation/holding by customs, breakages etc.

Please do not clog up the thread with such bids - I've deleted a couple of '1@0' and '1@0.1' when the bids were around 50-60...

Sorry John, I'll keep out - although there is much 'noise' in this thread that didn't seem to attract rebuke - and my post had a point (albeit misunderstood it seems).

But for the sake of curiosity - do you mean you don't want anyone to bid even a little under what the current offers are? Surely there are potentially a few cancellations?

[John (John K.)]

2 @ 31

Yeah, it's a lowball offer - but I'm just helping provide a datapoint for 'price discovery'.  
Even at that price I feel it's an extravagant (for me) risk.  

What's the point of this bid when the lowest you can bid to win these is 61 BTC?

The point is what I stated above:
 'a datapoint for price discovery'
 - in other words - to help those in the business of selling these things, to note that not everyone who is in the market for mining gear (which I still potentially am, depending on offerings) will pay those prices.
I consider the risk of large amounts of hashing power coming online to make the prices of 60BTC way too risky. I may well be wrong of course.

The drawcard for this particular sale, and my guess why it's gone so high is that there is presumably quick shipment, but even then you have to weigh up the risks of problems in shipment, including taxation/holding by customs, breakages etc.

Please do not clog up the thread with such bids - I've deleted a couple of '1@0' and '1@0.1' when the bids were around 50-60...

Sorry John, I'll keep out - although there is much 'noise' in this thread that didn't seem to attract rebuke - and my post had a point (albeit misunderstood it seems).

But for the sake of curiosity - do you mean you don't want anyone to bid even a little under what the current offers are? Surely there are potentially a few cancellations?

You can bid slightly below the current offers (and that's why I didn't delete your post). I was deleting those obviously trolling bids like 1@0 or equivalent.

2 @ 31

Yeah, it's a lowball offer - but I'm just helping provide a datapoint for 'price discovery'.  
Even at that price I feel it's an extravagant (for me) risk.  

What's the point of this bid when the lowest you can bid to win these is 61 BTC?

No idea on this. Please do not clog up the thread with such bids - I've deleted a couple of '1@0' and '1@0.1' when the bids were around 50-60...

PS: But please do not overdo this - and expect your bids to be ignored. If you have an existing bid at higher prices, you cannot effectively cancel it by rebidding lower.

0.1BTC tip to the dealer for keeping control of the table!

Expect it... as soon as Blockchain.info gets their shit back online so I can use my hot wallet.  

Thanks  

[dropt]

2 @ 31

Yeah, it's a lowball offer - but I'm just helping provide a datapoint for 'price discovery'. 
Even at that price I feel it's an extravagant (for me) risk. 

In similar spirit, 1@ 35.