Bid for Coin: introductory free bids to win 0.25 BTC

[bidforcoin]

We just graduated from the newb forum, and wanted to give you guys a reason to check out yet another new bitcoin site.

Currently, the auction winner gets 0.25 BTC, so you're getting ~$1 (0.01BTC) to bid on ~$25 (0.25BTC).

http://bidforcoin.com

How it works:
* You bid a small amount of bitcoin to win a larger amount of bitcoin, and
* half the remainder goes to benefit bitcoin-friendly causes; and
* everything is transparent, published, fair, and there's even a JSON api.  

To get your free 0.01 BTC credit:
(1) reply below with a payment address, and
(2) we'll reply here to confirm.

To place a bid:
(1) pick an auction on http://bidforcoin.com
(2) enter the same payment address as above
(3) select enough bids to exceed 0.01 BTC (even 0.011 BTC is enough)
and we'll deduct it from your total.

To recap: we're a "lowest unique bid" auction site:
* all bids are secret, and
* the lowest bid that only one person placed wins the auction.  

Again: reply to this post with your payment address and we'll confirm your credit.

Thanks for your help.

[manic]

16XBU2P7oZR17kD7zeKh7pfhQ8JLbjcMAP


you say pick an auction, does that mean we can pick one of the 0.1 auctions instead of the 0.25 one?

[Mooshire]

17n1yi6T35snj6AKazc3VtTgmBJKukKFN

Enough to exceed? So we have an unlimited balance?

[bidforcoin]

Mooshire, manic: you guys are confirmed.

@Mooshire: Just bid with any total over 0.01 (even 0.012) and we'll deduct from the payment total.

@manic: yep, you can pick any auction you want.

We're very much looking for usability feedback so anything you can share is appreciated -- thanks.

[bidforcoin]

Hey, manic won the 0.10 (bitdime?) auction, and 0.01 got sent to the FSF.  Well played!

Results are here: http://www.bidforcoin.com/ui/104001

Also exposed a bug where we're showing all the bids, even the unpaid ones; so we're fixing that.  The JSON feed shows the correct result however.  

We get tons of people bidding but not paying.  (Is the UI cumbersome?)

In any case, we're happy to send out more bid credits to more folks -- just post your payment address here.

Cheers, all.

[manic]

Thanks, doubled my money..  cool site..

Definitely worth taking advantage of this offer..

you can place a single bid higher than 0.01 or multiple bids that total more than 0.01 (like 0.0066, 0.0034, 0.0010) when you submit the bids the 0.01 credit is deducted from the total and you send the rest, so 0.001 for those 3 bids..    

[Hfleer]

Ive seen something like this before at some of the alternative auction sites.  Not sure if they're still around.

[bidforcoin]

Yeah, a lot of sites are penny-auction (where you pay for your bids before you use them), and a lot of sites auction physical goods or gift cards, and all of those require someone to run the auctions.

We tried to eliminate all that stuff and make it completely transparent and automated.

On our site, you bid small amounts of bitcoin to win large amounts of bitcoin.  And we split the proceeds on each auction with a non-profit like the Bitcoin Foundation or the FSF.

http://bidforcoin.com

We're still giving out free 0.01 BTC bid credits to try it out.  Reply here with your payment address.

[donnyc]

I'll try it.

1L7aEuhJaYC2nsmGYM2GvKsmrVKVdXakUX

[bidforcoin]

donnyc: you're set.

Use that address as your payout address and place over 0.01 in bids, and the 0.01 will be deducted from the total.

Be sure to check out the previous auctions to get a feel for what to bid.  Most winning bids have been small.

Thanks much.