MemoryCoin Auction - 500 MEG [Closed] .0006 BTC / MEG

[FreeTrade]

It's difficult to tell how soon MemoryCoin might be added to any exchange but I want to start to the process of price discovery and to create some 'hard' currency bounties for MemoryCoin projects.

So I'm auctioning 500 MemoryCoin on behalf of the MemoryCoin Foundation. The auction will last 48 hours from the time of this posting, or one hour after the highest bid has been placed. (So the auction is extended by one hour following a new higher bid, if this gets too drawn out, I reserve the right to end the auction at any time during this period).

To bid, post your bid amount in Bitcoin in this thread. If you don't have posting rights and want to bid, send your bid to memorycoincc@gmail.com and I'll place your bid in this thread for you.

The terms of payment are that the full amount should be paid within 1 hour of the auction's end to a public MemoryCoin Foundation address and after 6 confirmations 500 MemoryCoin will be transferred to your specified address.

[albon]

I will start you at 0.01 BTC

Not what its worth but got to start somewhere.

Also what if the person is out at work or asleep when the auction finishes?

[B.T.Coin]

I will raise the bid to 0.1 BTC for 500 MEG.

Same question here about paying within 1 hour after auction. What if I'm AFK ?

[QuantPlus]

Including a depreciating a $1,000 Win7 box over 2 years...
And average electricity cost of $0.10 KWh...
The cost to mine is roughly $0.06 + $0.03 = $0.09/hour/box...
So hardware cost is double power cost.

And I've mined about 1,100 MEG in my first week...
So making some *** adjustments for inexperience ***...
I'd say it costs ROUGHLY $0.020 to $0.025 to mine a MEG by a hobbyist...
Based on last week's difficulty.

It's hard to pin down because:

(1)  I've seen more clustering... and droughts than seems statistically normal.

(2)  Going to a 3-4 times faster machines does not appear to scale linearly.

[FreeTrade]

Same question here about paying within 1 hour after auction. What if I'm AFK ?

I'll be flexible and reasonable with regard to this. Not looking to inconvenience or screw anyone - just sometimes people show up to an auction like this with 100 different strategies and some of them are just disruptive. If you're well known or with a good rep, don't worry, but if it's an large anonymous bid on a new account at the end of the auction, you want to stick closely to the rules, or I'll suspect it's not a legitimate bid.

[devlin]

0.3 BTC for 500 MEG.

[bahamapascal]

Untill when is this auction going?
Is it util 6:39 Forum time?

[FreeTrade]

Is it util 6:39 Forum time?

Yes - Forum Time - August 20, 2013, 06:39:28 PM  . . . . unless there is a bid in the last hour, then the auction gets extended by one hour each time there is a new bid. This is to discourage sniping where a bidder makes a bid at the last minute of the auction and others don't have a chance to respond.

[FreeTrade]

The MCF Bitcoin Address for the winners payment is 14NUDCYsdV4AihZ59hGPBoE3o6KJrqEFqu

MCF publishes all addresses in use here -
http://memorycoin.org/foundation/

About 5 hrs left now. Good Luck.

[FreeTrade]

0.3 BTC for 500 MEG.

Auction is over and we have a winner. Devlin please make payment of 0.3 BTC to 14NUDCYsdV4AihZ59hGPBoE3o6KJrqEFqu and I'll get your 500 MEG to you.

Assuming we have a completion, an open auction puts the price of a MEG at .0006 BTC or about 6 cents.

[devlin]

Sent 0.3 BTC to 14NUDCYsdV4AihZ59hGPBoE3o6KJrqEFqu  tx 2feca6a351198f27a972206c86fedb1e15ddb67c0552e26619f45e77327096ec

My MC address is MAxkTCzYLXxDz13Gbg8crVK6KemgdB61zF

[FreeTrade]

Sent 0.3 BTC to 14NUDCYsdV4AihZ59hGPBoE3o6KJrqEFqu  tx 2feca6a351198f27a972206c86fedb1e15ddb67c0552e26619f45e77327096ec

My MC address is MAxkTCzYLXxDz13Gbg8crVK6KemgdB61zF

That's great, thank you - here's your 500 MEG

http://memorycoin.21stcenturymoneytalk.org/?tx=0f77e3eec0acdce5490952d1fb6c61459238fdbc6f2efcbf6348617b6dbc8d5d

[devlin]

Received. Thanks.