Bidding bots gone wild ?

[BurtW]

Check out this penny auction:

http://www.mokimarket.com/auction_details/296

Two bidders (or their bots?) went wild.  The "winner" paid $6.61 for a single BTC!

[jduck1987]

Check out this penny auction:

http://www.mokimarket.com/auction_details/296

Two bidders (or their bots?) went wild.  The "winner" paid $6.61 for a single BTC!

I just watched that auction and could not understand what was going on. Is there even an API for a bot to use?

[btc_artist]

This is why penny auctions are evil.

[SgtSpike]

Check out this penny auction:

http://www.mokimarket.com/auction_details/296

Two bidders (or their bots?) went wild.  The "winner" paid $6.61 for a single BTC!

Often, people will bid up an auction far beyond the actual value of the item just to prove that they are power bidders to hopefully deter people from bidding against them in the future.

[btc_artist]

Check out this penny auction:

http://www.mokimarket.com/auction_details/296

Two bidders (or their bots?) went wild.  The "winner" paid $6.61 for a single BTC!

Often, people will bid up an auction far beyond the actual value of the item just to prove that they are power bidders to hopefully deter people from bidding against them in the future.

So which one were you? :p

[mokimarket]

Check out this penny auction:

http://www.mokimarket.com/auction_details/296

Two bidders (or their bots?) went wild.  The "winner" paid $6.61 for a single BTC!

Check out this one:

http://www.mokimarket.com/auction_details/308

Winner paid $0.07 for a single bitcoin

That's the thing about penny auction, it's really random. Sometimes the sellers wins big and sometimes the bidders do. But there are several strategies that professional bidders use; I mention some here:
https://bitcointalk.org/index.php?topic=53163.0

There are two things that make my site different than any other penny auction site you will see
1) Anyone can create a penny auction for free, so you can be a bidder or seller
2) You don't every need to pay us any money or bitcoins to play, you can post (virtual, new or used) items to earn 100% credits generated from that auction and then use those credits to bid.

If it was a given that you could make money posting penny auctions, everyone would be doing (2)

[SgtSpike]

Check out this penny auction:

http://www.mokimarket.com/auction_details/296

Two bidders (or their bots?) went wild.  The "winner" paid $6.61 for a single BTC!

Often, people will bid up an auction far beyond the actual value of the item just to prove that they are power bidders to hopefully deter people from bidding against them in the future.

So which one were you? :p

Not one of those two!  My name on there is just SgtSpike... which I need to change, because it's not intimidating enough.