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Author Topic: 1 BTC up for Auction! Bidding starts at 0.01 BTC!  (Read 5556 times)
Jonathan Ryan Owens
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November 12, 2011, 09:21:24 AM
 #1

Rules here: http://en.wikipedia.org/wiki/Dollar_auction

Auction ALL THE THINGS!

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avoid3d
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November 12, 2011, 09:32:34 AM
 #2

Clever:

I bid 0.5BTC

avoid3d - Pierre Hugo
1avoid9FDvP15aKNyPGgJPcxfzMFM4Af6
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November 12, 2011, 09:33:48 AM
 #3

There is plenty of room for inside manipulation here. you could just make a shill account and bid 1 BTC, defrauding the previous bidder out of their contribution

avoid3d - Pierre Hugo
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November 12, 2011, 09:37:09 AM
 #4

Also, the wiki entry doesn't say what happens in the case of only one bidder Tongue

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deepceleron
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November 12, 2011, 09:39:26 AM
 #5

The problem will be compelling all the losing bidders to pay their bids...

Jonathan Ryan Owens
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November 12, 2011, 09:42:03 AM
 #6

The problem will be compelling all the losing bidders to pay their bids...

1. Theymos / Admins can see my IP. Granted, I *could* use a VPN and could bid it up, but that's a whole lot of work for what is really just good fun.
2. If the loser doesn't pay up, I guess they're a scammer and coul get a bunch of x's or at least a bad rep.
3. If there's no 2nd bidder, you win the 1 BTC for 0.5 BTC

-Jonathan

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November 12, 2011, 10:11:39 AM
 #7

ALMOST FORGOT!!

AUCTION ENDS AT 11:59PM PST ON 11/12/2011 (JUST UNDER 24 HOURS FROM NOW)

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November 12, 2011, 10:29:52 AM
 #8

Who is going to be the first to bid 1.5BTC? Pay 0.5BTC to make avoid3d lose 0.5BTC? What fun!

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November 12, 2011, 10:42:37 AM
 #9

Who is going to be the first to bid 1.5BTC? Pay 0.5BTC to make avoid3d lose 0.5BTC? What fun!

If someone bids 1.5BTC I will spite them and bid 1.6 Tongue

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November 12, 2011, 10:49:06 AM
 #10

Who is going to be the first to bid 1.5BTC? Pay 0.5BTC to make avoid3d lose 0.5BTC? What fun!

If someone bids 1.5BTC I will spite them and bid 1.6 Tongue
Okay then, let me correct my statement: who will bid 1.5BTC and make avoid 3d lose 0.6BTC? What fun!

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November 12, 2011, 11:25:02 AM
 #11

Who is going to be the first to bid 1.5BTC? Pay 0.5BTC to make avoid3d lose 0.5BTC? What fun!

If someone bids 1.5BTC I will spite them and bid 1.6 Tongue
Okay then, let me correct my statement: who will bid 1.5BTC and make avoid 3d lose 0.6BTC? What fun!

Haha I had to think about that for a second. A more telling "correction" to your statement would be:

who wants to pay 1.5BTC to make avoid3d lose 0.6BTC

no ?

</all in good fun>

avoid3d - Pierre Hugo
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Jonathan Ryan Owens
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November 12, 2011, 06:14:35 PM
 #12

All Auction proceeds will go to Theymos / Bitcointalk for ongoing server and upgrade costs.


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November 12, 2011, 08:35:02 PM
 #13

I bid 100 BTC

---no just kidding. I bid 0.51 BTC.

(BFL)^2 < 0
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November 12, 2011, 08:36:40 PM
 #14

I bid 100 BTC

---no just kidding. I bid 0.51 BTC.

I think its over.

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November 12, 2011, 08:39:23 PM
 #15

I bid 100 BTC

---no just kidding. I bid 0.51 BTC.

I think its over.

It's not over til tonight.

(BFL)^2 < 0
pirateat40
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November 12, 2011, 08:41:42 PM
 #16

I bid 100 BTC

---no just kidding. I bid 0.51 BTC.

I think its over.

It's not over til tonight.

oh, sorry my bad.  I missed that little AM PM thing

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November 12, 2011, 08:45:30 PM
 #17

I bid 0.511 BTC Smiley

BTC : 1CcpmVDLvR7DgA5deFGScoNhiEtiJnh6H4 - LTC : LYTnoXAHNsemMB2jhCSi1znQqnfupdRkSy
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November 13, 2011, 04:34:14 AM
 #18

Are sub-satoshi amounts allowed?
Jonathan Ryan Owens
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November 13, 2011, 05:24:04 AM
 #19

Are sub-satoshi amounts allowed?

Good question. The precedent has already been set, so no further decimal places would be allowed.

-Jonathan

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November 13, 2011, 06:03:40 AM
 #20

Hmm. If you have perfect information as per the wikipedia article, the the most rational thing to do is to not take part in this auction at all. By placing a single bid, you are led into a series of rational sequential bids, leading to irrational bids subsequently. You know this in advance, so any bid is irrational.

In saying that ... 0.5112 btc Cheesy

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