grue
Legendary
 Offline
Activity: 2058
Merit: 1431
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May 31, 2013, 07:28:29 PM |
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It would be interesting if a 1btc penny (bitcent?) auction was added where each bid was exactly 0.01btc (or other small amount), and each bid reset the 3 block countdown. The last confirmed bid made when the blockrun runs out wins. That way someone couldn't just bid 1btc and ruin it. I could see that going for awhile if there are a few interested parties.
#1 problem with that: blockchain spam. even worse than satoshidice #2: Why would any rational person bid on it? Sure, you have a chance of winning, but so does everyone else. It's against a rational actor's interest to enter the auction at early, because the game is all about attrition. Once a person makes his 100th bid, he's making a net loss, and everyone knows that. By entering early, he's putting himself at a disadvantage. |
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Jgguy
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May 31, 2013, 07:39:31 PM |
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True, but that is how an actual penny auction works. It is a form of gambling and playing on people not being rational. If everyone was rational, Las Vegas and Macau wouldn't exist.
I agree with the blockchain spam issue. The workaround would be to require the creation and funding of accounts, but I'm not sure if that is blockrun's intention.
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dipsy (OP)
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June 01, 2013, 12:00:48 PM |
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It would be interesting if a 1btc penny (bitcent?) auction was added where each bid was exactly 0.01btc (or other small amount), and each bid reset the 3 block countdown. The last confirmed bid made when the blockrun runs out wins. That way someone couldn't just bid 1btc and ruin it. I could see that going for awhile if there are a few interested parties.
#1 problem with that: blockchain spam. even worse than satoshidice #2: Why would any rational person bid on it? Sure, you have a chance of winning, but so does everyone else. It's against a rational actor's interest to enter the auction at early, because the game is all about attrition. Once a person makes his 100th bid, he's making a net loss, and everyone knows that. By entering early, he's putting himself at a disadvantage. This could be interesting and we will be looking at different models of auctions in the next few weeks to perhaps add some different variations. Are transactions of 0.01 really considered blockchain spam if they include a fee and is above the "non-standard" level of BTC0.00005430? In the long-run, if Bitcoin's market cap is a lot higher, 0.01 could be quite a significant amount of money; so they network should surely have to cope with this. The workaround would be to require the creation and funding of accounts, but I'm not sure if that is blockrun's intention.
For the moment, I think we'd like to stay away from having user accounts. I like the fact people can simply bid straight to an address and then claim. |
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dipsy (OP)
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June 01, 2013, 12:05:06 PM |
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I am based in the US, that sphero robot thing looks kind of neat, thats why I asked.
We can ship the Sphero from Amazon.com (US) if you win. They are cool, check out the video on the page: http://www.blockrun.com/auctions/sphero |
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pheaonix
Sr. Member
Offline
Activity: 392
Merit: 250
http://casinobitco.in/ A+ customer support
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June 01, 2013, 12:14:34 PM |
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grats kit, welcome to the winners circle.
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001sonkit
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June 01, 2013, 12:41:06 PM |
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grats kit, welcome to the winners circle.
Thanks bro, coins are good for you heh? Glad to know that you are on similar age to me, if your sig is true  Guess it isnt after reading your history. But anyway, glad to meet you, i play LOL too, on Taiwan server, I use swain often, Mr. Gayren BTW seems you are fans of TradeFortress too, from the sig. You ahve tried coinlenders? Dispy: for the chain issue, i guess if you are doing a variant on that, should probably keep the transparency that we are having now. I love your penny auction coz it is too open to be scam the ass outta guys I am in Hong Kong, so imma hear the bidDINGS and not play it  |
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001sonkit
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June 01, 2013, 12:52:15 PM |
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More Findings, hope it helps
[quote link=http://www.blockrun.com/faq]
How much do I need to bid?
The aim of the game is to be the highest bidder when the auction ends, so you need to bid more than the current bid and ideally more than any pending bids.
The first bid on any auction must be more than 0.05BTC, but you can do any increment higher than that; i.e. you can bid 1 Satoshi higher than the previous bid.
[/quote]
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GEMINI ACCOUNT REVIEW - Source of Funds Request
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pheaonix
Sr. Member
Offline
Activity: 392
Merit: 250
http://casinobitco.in/ A+ customer support
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June 01, 2013, 12:54:09 PM |
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grats kit, welcome to the winners circle.
Thanks bro, coins are good for you heh? Glad to know that you are on similar age to me, if your sig is true Guess it isnt after reading your history. But anyway, glad to meet you, i play LOL too, on Taiwan server, I use swain often, Mr. Gayren BTW seems you are fans of TradeFortress too, from the sig. You ahve tried coinlenders? Dispy: for the chain issue, i guess if you are doing a variant on that, should probably keep the transparency that we are having now. I love your penny auction coz it is too open to be scam the ass outta guys I am in Hong Kong, so imma hear the bidDINGS and not play it lol you know me man, janome from coinchat |
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001sonkit
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June 01, 2013, 12:56:45 PM |
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so many names you got....
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dipsy (OP)
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June 01, 2013, 01:09:55 PM |
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Dispy: for the chain issue, i guess if you are doing a variant on that, should probably keep the transparency that we are having now.
Yeah, I agree it's best to keep all bids on the chain so people can see what's going on  Sphero is about to go for only BTC0.15, these things are worth more than BTC1: http://www.blockrun.com/auctions/spheroAlso, the Jambox, so I expext some bids soon: http://www.blockrun.com/auctions/jawbone-jamebox |
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001sonkit
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June 01, 2013, 01:20:16 PM |
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DING DING! The Sphero Robotic Ball is UP for you now for BlockRun, gettin on to real business  |
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dipsy (OP)
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June 01, 2013, 01:30:43 PM |
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DING DING! The Sphero Robotic Ball is UP for you now for BlockRun, gettin on to real business Yeah, I like the "dings" too! If you really want to, you can also follow bid activity on twitter: https://twitter.com/block_runWe're still slightly down overall on the cumulative bids for the Sphero, I'd be content if we broke even on that one  |
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001sonkit
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June 01, 2013, 01:33:13 PM |
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Wish you will :） (my stupid miscalculation. Go! 15 more USD!)
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cp1
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June 01, 2013, 10:07:56 PM |
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Do you have pebbles ready to ship, or are they just pre-orders?
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dipsy (OP)
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June 02, 2013, 02:57:03 PM |
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001sonkit
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June 02, 2013, 03:02:07 PM |
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I am in!
PS: have you figure out where to advertise, i think those fullpage IFRAME ad. will work well, with those time limit settings
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dipsy (OP)
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June 02, 2013, 03:10:48 PM |
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I am in!
PS: have you figure out where to advertise, i think those fullpage IFRAME ad. will work well, with those time limit settings
We're looking into stuff and will be experimenting next week. I can't believe the Pebble is about to go for BTC0.08, these things aren't that easy to get hold of at the moment  http://www.blockrun.com/auctions/pebble-watch-1 |
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