ASICMINER Auction: 10 Block Erupter Blades -ended-

[fcmatt]

i do not recall reading that someone cannot withdraw their bid in the OPs original post before the auction ends.
correct me if i am wrong.

if i am correct the person is well within his rights.

if the auction ended and he did not want to pay.. that is something else entirely.

so saying you will hand out scammer tags for such a thing is mighty hilarious when obvious scammers on this
forum never get one and operate to this day.

[1714965707]

1714965707

[John (John K.)]

i do not recall reading that someone cannot withdraw their bid in the OPs original post before the auction ends.
correct me if i am wrong.

if i am correct the person is well within his rights.

if the auction ended and he did not want to pay.. that is something else entirely.

so saying you will hand out scammer tags for such a thing is mighty hilarious when obvious scammers on this
forum never get one and operate to this day.

If you read my post correctly, I stated that I will start a thread in the scammer accusation subforum - not to hand out the tag directly. There is a lot of documentation and evidence collecting work to be done before a scammer tag is handed out. Please post at the relevant threads for that if you are unsatisfied with the scammer tagging process.

Also, please read up on auctions - bids are normally considered as binding. There's a reason why the posts in this subforum cannot be deleted. I acknowledge that running such an auction without requiring a deposit is an error in itself as I underestimated how low people would go to.

[otter]

i do not recall reading that someone cannot withdraw their bid in the OPs original post before the auction ends.
correct me if i am wrong.

if i am correct the person is well within his rights.

if the auction ended and he did not want to pay.. that is something else entirely.

so saying you will hand out scammer tags for such a thing is mighty hilarious when obvious scammers on this
forum never get one and operate to this day.

That's how auctions work.  A bid is binding.  If you could pull out your bid it completely defeats the point of an auction and would make it very easy to fraudulently drive the price up.

I don't think you're a scammer though just misinformed.

[fcmatt]

i do not recall reading that someone cannot withdraw their bid in the OPs original post before the auction ends.
correct me if i am wrong.

if i am correct the person is well within his rights.

if the auction ended and he did not want to pay.. that is something else entirely.

so saying you will hand out scammer tags for such a thing is mighty hilarious when obvious scammers on this
forum never get one and operate to this day.

That's how auctions work.  A bid is binding.  If you could pull out your bid it completely defeats the point of an auction and would make it very easy to fraudulently drive the price up.

I don't think you're a scammer though just misinformed.

"Although state auction rules vary slightly, all states (except Louisiana) base their auction law on the Uniform Commercial Code, or UCC. According to the UCC, (section 2-238 paragraph 3): “a bidder may retract his bid until the auctioneer’s announcement of completion of the sale, but a bidder’s retraction does not revive any previous bid.”"

I don't think you are a scammer though just misinformed.

[kokojie]

I recommend block bids from these 3 post count bidders, they are high risk non-paying bidder since they have nothing to lose, also it gives impression of shill bidding to the other bidders. I suggest a minimum post count of 50 to be able to bid here.

[John (John K.)]

I recommend block bids from these 3 post count bidders, they are high risk non-paying bidder since they have nothing to lose, also it gives impression of shill bidding to the other bidders. I suggest a minimum post count of 50 to be able to bid here.

Sigh, I'll probably ask friedcat to require deposit for users <50 posts or something equivalent in future auctions. I'm trying to prevent shill/joy bidding here too - guess the state auctions have yet be in such situations then. 

[vortex1878]

i do not recall reading that someone cannot withdraw their bid in the OPs original post before the auction ends.
correct me if i am wrong.

if i am correct the person is well within his rights.

if the auction ended and he did not want to pay.. that is something else entirely.

so saying you will hand out scammer tags for such a thing is mighty hilarious when obvious scammers on this
forum never get one and operate to this day.

That's how auctions work.  A bid is binding.  If you could pull out your bid it completely defeats the point of an auction and would make it very easy to fraudulently drive the price up.

I don't think you're a scammer though just misinformed.

"Although state auction rules vary slightly, all states (except Louisiana) base their auction law on the Uniform Commercial Code, or UCC. According to the UCC, (section 2-238 paragraph 3): “a bidder may retract his bid until the auctioneer’s announcement of completion of the sale, but a bidder’s retraction does not revive any previous bid.”"

I don't think you are a scammer though just misinformed.

Read carefully.
Hence, the auction would have to be restarted (which is not practical).
As we do not have a classic auction with only one item for sale and therefore one winner, the application of the quoted UCC does not make sense here anyway.

Bids are binding.

[fcmatt]

i do not recall reading that someone cannot withdraw their bid in the OPs original post before the auction ends.
correct me if i am wrong.

if i am correct the person is well within his rights.

if the auction ended and he did not want to pay.. that is something else entirely.

so saying you will hand out scammer tags for such a thing is mighty hilarious when obvious scammers on this
forum never get one and operate to this day.

That's how auctions work.  A bid is binding.  If you could pull out your bid it completely defeats the point of an auction and would make it very easy to fraudulently drive the price up.

I don't think you're a scammer though just misinformed.

"Although state auction rules vary slightly, all states (except Louisiana) base their auction law on the Uniform Commercial Code, or UCC. According to the UCC, (section 2-238 paragraph 3): “a bidder may retract his bid until the auctioneer’s announcement of completion of the sale, but a bidder’s retraction does not revive any previous bid.”"

I don't think you are a scammer though just misinformed.

Read carefully.
Hence, the auction would have to be restarted (which is not practical).
As we do not have a classic auction with only one item for sale and therefore one winner, the application of the quoted UCC does not make sense here anyway.

Bids are binding.

My point of posting was to defend a person who was quickly becoming a "possible scammer" for doing something that was obviously not "illegal".
This auction is called a "second item auction". And it is also not setup right according to traditional rules. But since it was outlined in the first post
that is not a big deal. The whole thing about starting an auction over does not have to take place. Participants can all agree to continue with the
existing bids. But a savvy bidder can use rules against the auctioneer if they so desire and are running an auction according to a code.

I am priced out of the action but look forward to the snipes at the end! I will shut up now.

[jgarzik]

1 @ 63

[John (John K.)]

Courtesy recap of potential winners:

delaria	BTC70
alexuk	BTC65
JHenderson	BTC63
JHenderson	BTC63
JHenderson	BTC63
jgarzik	BTC63
marto74	BTC62
BlackLilac	BTC62
LainZ	BTC62
otter	BTC62

Time left:

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

[yochdog]

Courtesy recap of potential winners:

delaria	BTC70
alexuk	BTC65
JHenderson	BTC63
JHenderson	BTC63
JHenderson	BTC63
jgarzik	BTC63
marto74	BTC62
BlackLilac	BTC62
LainZ	BTC62
otter	BTC62

Time left:

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

2@63

[John (John K.)]

Courtesy recap of potential winners:

delaria	BTC70
alexuk	BTC65
JHenderson	BTC63
JHenderson	BTC63
JHenderson	BTC63
jgarzik	BTC63
yochdog	BTC63
yochdog	BTC63
marto74	BTC62
BlackLilac	BTC62

Time left:

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

[LainZ]

1@65

[John (John K.)]

Courtesy recap of potential winners:

delaria	BTC70
alexuk	BTC65
LainZ	BTC65
JHenderson	BTC63
JHenderson	BTC63
JHenderson	BTC63
jgarzik	BTC63
yochdog	BTC63
yochdog	BTC63
marto74	BTC62

Time left:

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

[JordanL]

1 @ 63.5

[otter]

1 @ 64

[alpha5]

Insane 

[TheSwede75]

Insane 

Yes and no. @ todays diff they pay for themselves after power in just under 4 months. Not THAT crazy in my opinion. But yeah, 60+ BTC is a lot of 'nerd gold'

[Marrs]

Insane 

Yes and no. @ todays diff they pay for themselves after power in just under 4 months. Not THAT crazy in my opinion. But yeah, 60+ BTC is a lot of 'nerd gold'

That's only true if today's difficulty does not change, which is impossible. If current difficulty increase trends continue, in four months, they'll probably be at about 50% ROI.

[otter]

Insane 

Yes and no. @ todays diff they pay for themselves after power in just under 4 months. Not THAT crazy in my opinion. But yeah, 60+ BTC is a lot of 'nerd gold'

I would say at the current difficulty incline it's possible that they'll never pay for themselves or may take years.  I personally just want one because I want to help secure the network.