Auctioning off bitcoins on MokiMarket every day this week

[mokimarket]

Will be auctioned off as penny auctions. This auction ends in less than an hour: http://www.mokimarket.com/auction_details/287

[Cory]

Neat. How much time is added to the timer with each bid?

[mokimarket]

Neat. How much time is added to the timer with each bid?

10 seconds when less than 1 minute remaining on auctions; you can create your own auctions for free as well.

[Rejinx]

I am pretty sure NOTGONNASTOP is a bot and I think your a cheat.

[SgtSpike]

I am pretty sure NOTGONNASTOP is a bot and I think your a cheat.

Serious allegations.

I know that NOTGONNASTOP is a bot, but mokimarket's already stated that there is no policy against using bots.

Why do you think he's a cheat though?

[btc_artist]

So we can pay $6+ for a bitcoin? Hmmm.

[btc_artist]

In all fairness, I should note that a bitcoin has gone for more than $6 USD there, but also for less than $0.50.  It's just hard to tell which one you will get.

[mokimarket]

I am pretty sure NOTGONNASTOP is a bot and I think your a cheat.

This is a very serious charge which is absolutely not true. You can search any username on our site on allpennyauctions and NOTGONNASTOP is an active penny auction user:

http://www.allpennyauctions.com/users/MokiMarket.com/NOTGONNASTOP/

Don't take my word for it, go to any penny auction forum pennyauctionwatch or pennyburners and ask about that username and there will be other that will vouch that he is a real user.

NOTGONNASTOP is what is known as a powerbidder and powerbidders use some of these well known strategies (I'm copying and pasting this from another thread I posted):

1) Never bid on an auction with more than a minute remaining: Chances are high that you will be outbid so you are wasting bids
2) Chose an intimidating username: most powerbidder have names like "idontquit" or "neverendingbids" as a tactic to scare bidders from bidding on items
3) Earn a reputation: This is a very balsy strategy, but many powerbidders are willing to bid up a $20 gift card to $1000 bucks if they have to just to establish a reputation as a crazy bidder that will never stop bidding on an item they set their sites on. Once they have this reputation, other bidders simply avoid bidding on auctions that these users bid on and they get even better deals on products
4) Bid on new sites: This is also a risky strategy as many new sites are known to not ship items and shill bid on their auctions. However, new and honest penny auction sites will be losing money because they do not yet have a userbase large enough to cover the cost of their items. Many powerbidders will completely take over a new penny auction site, winning everything. This has become such a big problem and many sites have started to limit the number of wins you can have on a site in a month.


Again, you can track all my auctions, who is bidding, who is winning, how many bids they are using on allpennyauctions.com. The penny auction community is very picky about shill bidding and they track all these stats.

[mokimarket]

I'm disagreeing with the charge that NOTGONNASTOP is a site bot; it's entirely possible that he has his own built autobidder.

Users can create their own bot's to autobid for them, but they still have to buy credits like everyone else.

[SgtSpike]

I'm disagreeing with the charge that NOTGONNASTOP is a site bot; it's entirely possible that he has his own built autobidder.

Users can create their own bot's to autobid for them, but they still have to buy credits like everyone else.

Oh, that was my original though.  It's pretty easy to build your own bot using greasemonkey.  Or, there's several out there that can be purchased for < $100.

NOTGONNASTOP is on several other penny auction sites, obviously has a lot invested in it, so I wouldn't be surprised at all if he built or purchase a bot of his own.

[Rejinx]

Well way would I want to send money to get nothing?  That is all that you can do on your site.  I lost a dollar to learn a lesson,  a small price to pay to learn to stay away form these sites.

[mokimarket]

Well way would I want to send money to get nothing?  That is all that you can do on your site.  I lost a dollar to learn a lesson,  a small price to pay to learn to stay away form these sites.

You don't need to send the site money to use the site...ever.  You can just post something to sell for free, (virtual ebook, service, whatever) and earn 100% of all credits. Then you can use those credits to bid on stuff.

In fact, I'd much rather have a good posting than your money. My goal is not to build a site to suck money out of people, I want it to become a bartering exchange for bidders and sellers.

Of course we appreciate the customers that purchase bitcoins to have fun, but it's absolutely not necessary to spend one dime to use the site.

[Rejinx]

mokimarket,
 I am sorry.  I am inclined to believe you.  I am pretty sure I was wrong and that you are trying to run a stright business.  I would edit my post from earlier but I can't, the site lock aution post.

 I do however believe that the site is misleading.  When it show that you got 80% off of an item, but over double the retail was spent on bids and some people spent money and got nothing.  I think the site some be concidered a gambling site not a auction site.  I may actully take your advice and try listing something in the future, but the idea that new users could be mislead is worrying to me,  I think the true cost of items should be posted somewhere.

In short, I am sorry you are no crook, I was wrong.

[mokimarket]

mokimarket,
 I am sorry.  I am inclined to believe you.  I am pretty sure I was wrong and that you are trying to run a stright business.  I would edit my post from earlier but I can't, the site lock aution post.

 I do however believe that the site is misleading.  When it show that you got 80% off of an item, but over double the retail was spent on bids and some people spent money and got nothing.  I think the site some be concidered a gambling site not a auction site.  I may actully take your advice and try listing something in the future, but the idea that new users could be mislead is worrying to me,  I think the true cost of items should be posted somewhere.

In short, I am sorry you are no crook, I was wrong.

I appreciate that, and you do have a good point that we haven't done the best job at correctly marketing the site. I think this is because most of my marketing is to traditional penny auction users that are very familiar with the pros and cons of penny auctions; the way these sites work is not as well known in the bitcoin community.

One reason that I created the site like it is was because I think penny auctions are fun but I don't want users leaving the site feeling like they got ripped off. I'm glad you only spent 1 dollar, some people (on other sites) loose 100s or 1000s of dollars and get nothing back. I absolutely do not want my site to function like this.

If you have a spare dollar here or there, I thinks it's a fun game. It you don't have any money to spare, just post something to earn credits and play.

And as I said, I'd much rather have sellers than bidders. Most of the bidders that I have come from the penny auction communities and they love bidding rather than posting.

Finally I would say the penny auctions is more of a skill based game than gambling because there are better bidders than others and strategies you can use to increase your chances of winning.