BlockRun.com - Penny auctions on the blockchain

[dipsy]

Nope, not at the moment. That is something we could look at in future though 

So, as the pending bids are not showing. For this auction:
http://www.blockrun.com/auctions/1-bitcoin-6

It's worth checking for any unconfirmed incoming transactions here:
http://blockchain.info/address/1Run2yZU3szvKZmB8g1E9LH2TcfdHVff2

[dipsy]

Another BTC1 about to end for today:
http://www.blockrun.com/auctions/1-bitcoin-8

We've also got the pending bids working again, so you can see new bids on the page 

[pheaonix]

the monstrous grue has returned with vengeance

[Caesium]

Well his game certainly isn't doing BlockRun any harm at the moment, they made 0.909BTC profit on that one.

[dipsy]

I don't think it was actually gure this time, although can't be 100% sure as I don't know grue's real identity.

I'm not sure if the winner is a member of the forum, but I'll ask him to post if he is.

[grue]

I'm kind of bummed out that the galaxy note and ipad auctions both end near 5 am for me

[dipsy]

I'm bummed out too, we put the countdown on those 2 auctions ages ago and the blocks haven't played nice for us as far as timezones go!

The best thing to do is either bid now, or sign up on the page so you get email reminders when they're close to ending:

Galaxy Note: http://www.blockrun.com/auctions/samsung-galaxy-note-10-dot-1
iPad Mini: http://www.blockrun.com/auctions/apple-ipad-mini-16gb-wi-fi-white

It depends on the release of blocks by miners, but estimates on closing times are:
West Coast US: 9:30pm | East Coast US: 12:30AM | UK: 5:30AM | Europe: 6:30AM

[Eisbeutel]

Hi, I'm the winner who secured this auction today: http://www.blockrun.com/auctions/1-bitcoin-8

It was great fun and the blockrun-support solved all my problems as this was the first time for me signing a message...

its fun and you get to know the blockchain way better than you ever wanted

[dipsy]

BlockRunning towards cheap tablets..

iPad Mini about to close:
http://www.blockrun.com/auctions/apple-ipad-mini-16gb-wi-fi-white

Galaxy Note about to close:
http://www.blockrun.com/auctions/samsung-galaxy-note-10-dot-1

Hi, I'm the winner who secured this auction today: http://www.blockrun.com/auctions/1-bitcoin-8

It was great fun and the blockrun-support solved all my problems as this was the first time for me signing a message...

its fun and you get to know the blockchain way better than you ever wanted

Thanks for playing, I was happy to help 

[dipsy]

- Closing Soon -

iPad Mini:
http://www.blockrun.com/auctions/ipad-mini-16gb-black

1Bitcoin:
http://www.blockrun.com/auctions/1-bitcoin-10

Tomorrow we have a Pebble smart watch:
https://twitter.com/blockspin/status/339793867773730816

[grue]

this guy is a dumbass:


he's paying 2.4 BTC ($312) for an iPad mini that is worth $330. One more competing bid and he's paying more than it's worth.

[dipsy]

Ah, but BTC1.7 was the winner:
http://www.blockrun.com/auctions/ipad-mini-16gb-black

So they actually got a good deal  

[Caesium]

Ah, but BTC1.7 was the winner:
http://www.blockrun.com/auctions/ipad-mini-16gb-black

So they actually got a good deal  

Right, but the point being made was the 1.7BTC winner had previously bid 0.7BTC as well, so his total price was 2.4? Or do I misunderstand something.

[grue]

Ah, but BTC1.7 was the winner:
http://www.blockrun.com/auctions/ipad-mini-16gb-black

So they actually got a good deal 

Right, but the point being made was the 1.7BTC winner had previously bid 0.7BTC as well, so his total price was 2.4? Or do I misunderstand something.

He got a "good deal" of 2.4 BTC * $130 USD/BTC = $312. He saved a whopping $17 off retail. But he had to risk 312 USD to achieve that saving. If I swooped in and put in a bid at 1.7000001 BTC, any additional bids by him would incur a net loss. Not bidding anything would incur a loss of 2.4 BTC.

tl;dr the "winner" risked over $310 to save 5% off retail.

[dipsy]

He got a "good deal" of 2.4 BTC * $130 USD/BTC = $312. He saved a whopping $17 off retail. But he had to risk 312 USD to achieve that saving. If I swooped in and put in a bid at 1.7000001 BTC, any additional bids by him would incur a net loss. Not bidding anything would incur a loss of 2.4 BTC.

tl;dr the "winner" risked over $310 to save 5% off retail.

I think there are a number of reasons why they may have bid so aggressively:

• They may have been bidding from a country where the mark-up on iPads are higher.
• They may be from a country where it is hard to exchange Bitcoins to cash easily, so happy to cash some out in another way
• They may have have bought their coins for less and happy to cash some out for a product
• They may love the "thrill" of playing BlockRun!

[dipsy]

Closing NOW:

1 Bitcoin
http://www.blockrun.com/auctions/1-bitcoin-11

Pebble Smart Watch:
http://www.blockrun.com/auctions/pebble-watch

We have also listed some different products due to close in the next couple of days.

Additionally, we have added a sound to the auction page:

• 1 "Ding" for when a new pending bid comes in
• 2 "Dings" when a bid gets confirmed in a block

On a desktop browser, If you keep the auction page open while navigating to your wallet; you'll hear any new bids come in  

You can also now follow bid updates on twitter: http://twitter.com/block_run

We have also changed our back-end infrastructure to sit on our own node, so blocks should never be behind blockchain.info or blockexplorer.

Happy bidding!

[vlees]

My motive for winning the auction will be disclosed 7 days from now.

7 days and 1.5 hours later...

I'm curious now!

[pheaonix]

sent in a bit trying to win, and somehow managed not to include transaction fee. i think i am screwed.

[dipsy]

sent in a bit trying to win, and somehow managed not to include transaction fee. i think i am screwed.

If a bid doesn't confirm before the end of the auction, it will be auto refunded once it eventually confirms (after the auction has ended) 

[Caesium]

1BTC bid for a 1BTC prize?  
http://blockchain.info/tx/4e8a9a556a90b1c7a979c0514ad2e5b463e9d914cf7ab1cb4ee85cc71f0f77b0

Also yeah, come on grue, I've had no sleep this past week cos of you