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Author Topic: [WTS] Batch #2 Avalon ASIC Income Sharing  (Read 6863 times)
ProfMac
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May 25, 2013, 03:23:35 PM
 #1

FINAL HEAT
Auction
Avalon Batch #2 Income Sharing

This is an ongoing auction with a rich and complex history for 1 share each (1%) of the output of an Avalon Batch #2 ASIC miner.  I pay all operating costs.  It has multiple winners, and multiple partial-ending blocks.



How to bid:
Send bitcoin from an address to 17DCms43Vu2yusDjmpjHJuZihSSWkNzgSH

Who are the winners:
Each time a partial-ending block arrives, the address with the highest total bids gets the title permanent-winner.  When the highest bid is from a previous permanent-winner, that bidder is still a permanent-winner and no new permanent winner title is declared.

What about the other bidders:
There are a total of 10 winning bids.  This number includes all permanent-winners, and enough additional winning bidders to make 10.

What about the unsuccessful bidders:
If you are not a winning bidder after a partial-ending block, I refund your bid in full to the address that submitted the bid.  Currency mixers, such as many currency exchanges,  will take your money and submit a bid for someone else and both of us will have grief.  I strictly refund money to the address that payed.

How do I increase my bid:
Make another payment from the same address.

How do I bid on another share:
Make a payment from another address.

What is a partial-ending:
There is a partial-ending and the next permanent winner is declared at block number 238,442, with the possibility of extension.
If a new bid comes in and the bidder is the top bidder and the auction is live, the auction is extended for 10 more blocks from the payment block.  
When a permanent winner is declared, 720 (about 3 days) is added to the block number holding the winning bid and a new winning-bidder auction is immediately underway.
When a total of 6 partial-endings have occurred at or after block 242,768 242,762, or as extended, the auction will be permanently closed.
Enough current winners will be added to the permanent winners so that there are 10 final auction winners.  



Example:
block-chain facts
An auction with 3 winners has a scheduled partial-end at block 235,600, and the top bid is BTC 0.900.  Joy makes a BTC 0.200 payment in block 235,595 that brings her total to BTC 1.000.  Slow makes a payment at block 235,604 bringing his total to 1.000.  Late makes a bid of BTC 1.001 and does not include miners fees.  His block is delayed and does not get included until block 235,608. Tiny makes a payment of BTC 0.950 that is included in block 235,598.

analysis
Joy's bid is a winning bid at BTC 1.000 and block 235,595.  The auction extends to block 235,605.
Slow's bid is the same total as Joy's, but Joy is first.  Joy is still top-winner, the auction does not extend.
Late's bid arrives after the partial-end.  The auction does not extend.
Tiny's bid is too small, he is not a top-winner, and the auction does not extend.

Joy is declared a permanent winner at block 235,605.
Slow (BTC 1.000), Late (BTC 1.001), and Tiny (BTC 0.950) now have bids in place.  The next auction end is block 236,325 (235,605+720) and Late is the current top bidder, followed by Slow then Tiny.

I try to be respectful and informed.
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ProfMac
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May 28, 2013, 01:15:52 PM
 #2

Final auction results.  These 10 accounts each own 1 share (1%) of the Avalon's output.

  • 1   1MLFkF3dPwNzwBsw6DFUpXjn78RKwwhVuJ   1.4021 (permanent)
    x   18NQjpGcUdjMnqgCCz3F3SZcQfMyCi5Kyv   1.402 (permanent)
    1   1LktD4cXPmcJ75Sd2WgRs69rBZqNQd5L4P   1.4015
    1   1CBkQc83dMGVAaseYM1TZRLjeBGAcsd4Z1   1.401 (permanent)
    2   1Fm1mN7o16Te6PrkpgirWzZ2daibW9jdUD   1.400001 (permanent)
    1   15B1jLCFXFiWwkreAo3bEMeMMjH435Q9cA   1.40000001
    5   1CwLwBgR16urEkcL5Su3LkzA7RYYqyjHy4      1.265000000    (permanent)
    2   14Zqn3i1iDJzmkFCRjVqDe4YqgkrrmyEYd   1.23359794 (permanent)
    3   1Fu4JaynbQrtkSPN73uoDqEPAxyzVfsqLu      1.21410000 (permanent)
    7   1cCXNG5mNFkErBWtCLaVLA9fZrGAzFCB1   1.21100000 (permanent)

I try to be respectful and informed.
dogie
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May 29, 2013, 06:45:57 AM
 #3

This is just stupid. Can we have a proper minimum increment. I bid 1.399 [1.4 - fee], only to get beaten by 1.400.

ProfMac
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May 29, 2013, 02:23:02 PM
 #4

This is just stupid. Can we have a proper minimum increment. I bid 1.399 [1.4 - fee], only to get beaten by 1.400.

You are still a winning bidder.  If no additional bids come in for the next 15 days, you will have a share.  The only thing you don't have is a guarantee that you cannot be outbid.


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Pistachio
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May 29, 2013, 05:33:39 PM
 #5

This is just stupid. Can we have a proper minimum increment. I bid 1.399 [1.4 - fee], only to get beaten by 1.400.

Sorry about that, I just like round numbers  Wink. We both lost that round anyway.
dogie
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May 30, 2013, 12:50:19 AM
 #6

This is just stupid. Can we have a proper minimum increment. I bid 1.399 [1.4 - fee], only to get beaten by 1.400.

Sorry about that, I just like round numbers  Wink. We both lost that round anyway.

Yes, we both lost by 0.000001 btc. Thats 0.013 cents. This isn't an auction, its a minigame.

ProfMac
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May 30, 2013, 04:49:29 PM
 #7

This is just stupid. Can we have a proper minimum increment. I bid 1.399 [1.4 - fee], only to get beaten by 1.400.

Sorry about that, I just like round numbers  Wink. We both lost that round anyway.

Yes, we both lost by 0.000001 btc. Thats 0.013 cents. This isn't an auction, its a minigame.

I set the 10 block extension so that people would have about an hour to increase their bid.

I try to be respectful and informed.
Pistachio
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June 05, 2013, 09:31:12 PM
 #8

Come on people, I just need two more bids above 1.4 to knock out both my remaining bids. I won't bid against you. Don't be shy. These bids have been sitting here for 6+ weeks  Tongue.

From 239,883 Ending 240,602

As of block 239,928

  • x   18NQjpGcUdjMnqgCCz3F3SZcQfMyCi5Kyv   1.402
    1   1LktD4cXPmcJ75Sd2WgRs69rBZqNQd5L4P   1.4015
    1   1CBkQc83dMGVAaseYM1TZRLjeBGAcsd4Z1   1.401 (permanent)
    2   1Fm1mN7o16Te6PrkpgirWzZ2daibW9jdUD   1.400001 (permanent)
    4   1Gor6F9rMXUhbKGT9iYRKpa4U4tW94Ycq8   1.40000000
    1   1K5YnnLhvvgJAejqSxeaSP7tTDya54Cphu   1.399
    5   1CwLwBgR16urEkcL5Su3LkzA7RYYqyjHy4      1.265000000    (permanent)
    4   1JzMp55NW22xjEE4QKUhN5iAmKyFnJSUDg   1.25950000 <-- not currently winning, at risk of return, must outbid 1.399
    2   14Zqn3i1iDJzmkFCRjVqDe4YqgkrrmyEYd   1.23359794 (permanent)
    3   1Fu4JaynbQrtkSPN73uoDqEPAxyzVfsqLu      1.21410000 (permanent)
    7   1cCXNG5mNFkErBWtCLaVLA9fZrGAzFCB1   1.21100000 (permanent)
dogie
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June 06, 2013, 03:27:56 AM
 #9

1   1K5YnnLhvvgJAejqSxeaSP7tTDya54Cphu   1.399
Please refund.

ProfMac
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June 06, 2013, 09:53:13 AM
 #10

1   1K5YnnLhvvgJAejqSxeaSP7tTDya54Cphu   1.399
Please refund.

Has there been a compelling personal crisis?

Bids are not retractable.  Perhaps you will be outbid. 

I try to be respectful and informed.
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June 06, 2013, 11:04:12 AM
 #11

1   1K5YnnLhvvgJAejqSxeaSP7tTDya54Cphu   1.399
Please refund.

Has there been a compelling personal crisis?

Bids are not retractable.  Perhaps you will be outbid. 

Because I'm not going to win, I have other uses for the funds and this will/is taking forever! I have debt repayment schedules to meet and I'm having to topup with Fiat I shouldn't be touching.

ProfMac
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June 06, 2013, 04:04:28 PM
 #12

1   1K5YnnLhvvgJAejqSxeaSP7tTDya54Cphu   1.399
Please refund.

Has there been a compelling personal crisis?

Bids are not retractable.  Perhaps you will be outbid. 

Because I'm not going to win, I have other uses for the funds and this will/is taking forever! I have debt repayment schedules to meet and I'm having to topup with Fiat I shouldn't be touching.

That sounds like you got cold feet about your bid.

By compelling personal crisis, I am thinking of something that happened after your bid that is unforeseeable and serious, such as a house fire, an automobile wreck, a parent with a heart attack. 

If you bid high and try to win, then other people outbid you, and then I return your bid outside the rules, I have to deal with anger and chaos.  On your 7 BTC bid, everyone knew it was a blunder.  It was the right thing to return that bid and it did not generate hard feelings from the other bidders.  Not this time.

As it stands, you are on the winner list.  If you and I do nothing else, you will either win, or you will have your bid returned. 




I try to be respectful and informed.
Pistachio
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June 06, 2013, 06:59:38 PM
 #13

How about a compromise. My bids have been sitting here for 6+ weeks, so what's a few more days. I can add 0.14 to my bid at 1JzMp55NW22xjEE4QKUhN5iAmKyFnJSUDg to outbid dogie and ProfMac you can then refund his bid because he will no longer have a winning bid. Is that acceptable?



1   1K5YnnLhvvgJAejqSxeaSP7tTDya54Cphu   1.399
Please refund.

Has there been a compelling personal crisis?

Bids are not retractable.  Perhaps you will be outbid. 

Because I'm not going to win, I have other uses for the funds and this will/is taking forever! I have debt repayment schedules to meet and I'm having to topup with Fiat I shouldn't be touching.

That sounds like you got cold feet about your bid.

By compelling personal crisis, I am thinking of something that happened after your bid that is unforeseeable and serious, such as a house fire, an automobile wreck, a parent with a heart attack. 

If you bid high and try to win, then other people outbid you, and then I return your bid outside the rules, I have to deal with anger and chaos.  On your 7 BTC bid, everyone knew it was a blunder.  It was the right thing to return that bid and it did not generate hard feelings from the other bidders.  Not this time.

As it stands, you are on the winner list.  If you and I do nothing else, you will either win, or you will have your bid returned. 




ProfMac
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June 06, 2013, 07:12:40 PM
 #14

Thank you for the offer.

Normally, you would just make the bid and I would return his not-winning bid in a day or so, after block 240,602.

Since he has publicly requested a refund and will not be winning, I will make the refund as soon as I notice 6-confirms.
It is fine to outbid him by only 1 Satoshi.  That will let any automatic block-chain monitoring software work, but it will not put unneccessary burden on you.  Do be sure to account for the miner's fee.


How about a compromise. My bids have been sitting here for 6+ weeks, so what's a few more days. I can add 0.14 to my bid at 1JzMp55NW22xjEE4QKUhN5iAmKyFnJSUDg to outbid dogie and ProfMac you can then refund his bid because he will no longer have a winning bid. Is that acceptable?



1   1K5YnnLhvvgJAejqSxeaSP7tTDya54Cphu   1.399
Please refund.

Has there been a compelling personal crisis?

Bids are not retractable.  Perhaps you will be outbid.  

Because I'm not going to win, I have other uses for the funds and this will/is taking forever! I have debt repayment schedules to meet and I'm having to topup with Fiat I shouldn't be touching.

That sounds like you got cold feet about your bid.

By compelling personal crisis, I am thinking of something that happened after your bid that is unforeseeable and serious, such as a house fire, an automobile wreck, a parent with a heart attack.  

If you bid high and try to win, then other people outbid you, and then I return your bid outside the rules, I have to deal with anger and chaos.  On your 7 BTC bid, everyone knew it was a blunder.  It was the right thing to return that bid and it did not generate hard feelings from the other bidders.  Not this time.

As it stands, you are on the winner list.  If you and I do nothing else, you will either win, or you will have your bid returned.  





I try to be respectful and informed.
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June 23, 2013, 09:26:38 AM
 #15

Thank you very much ProfMac for running this auction. We all learnt a lot!

ProfMac
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June 23, 2013, 05:08:13 PM
 #16

Thank you very much ProfMac for running this auction. We all learnt a lot!

Thanks.  It was indeed an interesting ride.


I try to be respectful and informed.
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