10 lots of 1,000 CK gold each -> 2014-10-25, 19:00 GMT

[rpietila]

This is an ingame item. Please see the rules of the game, Crypto Kingdom Version 1: Genesis, before making a bid.

It is advisable to read the game thread also, starting from the announcement that it accepts characters, at least.

As part of the HM The King's gold sales, mandated by the rules, 10 lots of 1,000 units of CK gold each, will be offered for auction.

By buying from this auction, you may also be entitled to the "MEW bonus" and "early poster" bonus that will automatically be added to the gold you have bought. (Note: you get more gold, not pay less.) This is likely the last chance to receive the "early poster bonus".

The bids are to be given in the following format: "quantity @ price (XMR)". For example "2000 @ 0.25".

The reserve price is 0.20 and no more than 2 decimals, so the bidding starts at 0.21. The last auction on Wednesday closed at 0.26.

Higher bid wins over lower one, earlier bid wins over later one, and all winners pay the same amount per lot (the price of the highest non-winning bid).

The right to participate in the auction is limited as follows:
- if it is not legal for you to do so, cannot participate
- negative trust rating, cannot participate
- Full Members or lower, limited to 1 lot
- Senior Members or higher, or existing players of the game, limited to 10 lots (all).

The winners who are already not characters, will be created characters in the game after they pay for the gold and supply the character stats (age, sex, nick).

Auction closes 7 pm GMT Saturday, BCT server time, or one minute after the last winning bid (in case a winning bid was submitted during the last minute, the auction lasts as long as there are no new winning bids submitted in one minute since the previous one).

Gold bought in this auction must be paid in 24 hours in monero (XMR). XMR can be bought with BTC here. Non-payment is considered default and results in forfeiture of game assets, or denial to enter the game at a later time, as well as loss of reputation and trust rating.

HM The King reserves the right to make clarifications.

[rpietila]

Reserve bid submitted for clarity:

10,000 @ 0.20 HM The King (rpietila)

Proxy bids (these will not be raised):

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)

[dnaleor]

1000 @ 0.22

[xulescu]

... all winners pay the same amount per lot (the price of the highest non-winning bid).

Emphasizing this important difference from the last auction for clarity.

[rpietila]

... all winners pay the same amount per lot (the price of the highest non-winning bid).

Emphasizing this important difference from the last auction for clarity.

Might you explain why the difference is important?

[smooth]

... all winners pay the same amount per lot (the price of the highest non-winning bid).

Emphasizing this important difference from the last auction for clarity.

Might you explain why the difference is important?

It discourages strategic bidding and encourages people to bid what they actually think the gold is worth. Of course, you can't force people to bid that way, just create the incentives.

An example of the difference would be that lets say I think the gold is worth 1 XMR. So I bid 1 XMR for all 10k. No one else thinks it is worth more than 0.5 so that is the highest losing bid. Under the old rules I pay 1 XMR, which penalizes me for bidding my actual belief (I could have bid 0.5 or 0.51 and still won). Under the new rules I pay 0.5, which does not penalize me.

[rpietila]

About 3 days left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.22 dnaleor
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)
5,000 @ 0.20 HM The King
----------------------------------
5,000 @ 0.20 HM The King

If the auction would end now, the price would be 0.20 XMR/CKG.

[xulescu]

... all winners pay the same amount per lot (the price of the highest non-winning bid).

Emphasizing this important difference from the last auction for clarity.

Might you explain why the difference is important?

It discourages strategic bidding and encourages people to bid what they actually think the gold is worth. Of course, you can't force people to bid that way, just create the incentives.

An example of the difference would be that lets say I think the gold is worth 1 XMR. So I bid 1 XMR for all 10k. No one else thinks it is worth more than 0.5 so that is the highest losing bid. Under the old rules I pay 1 XMR, which penalizes me for bidding my actual belief (I could have bid 0.5 or 0.51 and still won). Under the new rules I pay 0.5, which does not penalize me.

For some references, see

http://www.eecs.harvard.edu/~parkes/cs286r/spring07/papers/myerson.pdf

http://arxiv.org/pdf/0906.1019v1.pdf

Sorry for the hijack, this is the last post I make on the topic.

[djjacket]

1,000 @ 0.26

[dnaleor]

add 1000 @ 0.2 for me please

[smooth]

1000 @ 0.3

[rpietila]

About 3 days left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.22 dnaleor
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)
3,000 @ 0.20 HM The King
----------------------------------
7,000 @ 0.20 HM The King
1,000 @ 0.20 dnaleor

If the auction would end now, the price would be 0.20 XMR/CKG.

[dnaleor]

About 3 days left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.22 dnaleor
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)
3,000 @ 0.20 HM The King
----------------------------------
7,000 @ 0.20 HM The King
1,000 @ 0.20 dnaleor

If the auction would end now, the price would be 0.20 XMR/CKG.

ah, ok... So The king made the effective minimum bid 0.21 XMR. Didn't know that...

[dnaleor]

didn't read the OP very well...
add 1000 @ 0.21 then.

[NewLiberty]

2000 @ .22

[rpietila]

About 3 days left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.22 dnaleor
2,000 @ 0.22 Lord NewLiberty
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.21 dnaleor
----------------------------------
10,000 @ 0.20 HM The King

If the auction would end now, the price would be 0.20 XMR/CKG.

The price is determined by the highest non-winning bid.

[luigi1111]

1,000 @ 0.22

(I'm still not sure what my 100 to MEW gets me?)

[rpietila]

About 3 days left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.22 dnaleor
2,000 @ 0.22 Lord NewLiberty
1,000 @ 0.22 luigi1111
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)
----------------------------------
1,000 @ 0.21 dnaleor
10,000 @ 0.20 HM The King

If the auction would end now, the price would be 0.21 XMR/CKG.

(I'm still not sure what my 100 to MEW gets me?)

MEW bonus gold is calculated as follows: votepower*25% / price of gold:

Eg. if the gold price ends up at 0.21, your 100 votes would get 100 * 25% / 0.21 = 119 bonus gold.

There are no discounts.

The early poster bonus is calculated similarly: posts*20 / price of gold:

Each early post (see definition in the game main thread) would in this case net 95 bonus gold.

[iluvbitcoins]

1000@0.27

[Bassica]

1000 @ 0.23

[rpietila]

About 2 days left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.27 iluvbitcoins
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Bassica
1,000 @ 0.22 dnaleor
2,000 @ 0.22 Lord NewLiberty
----------------------------------
1,000 @ 0.22 luigi1111
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.21 dnaleor

If the auction would end now, the price would be 0.22 XMR/CKG.

[rpietila]

To alleviate the dearth of gold in the citizens' hands, one of our good nobles has agreed to sell 1,000 gold and HM has accepted it to be included in the auction. The total will now consist of 11 lots of gold. It is not impossible that more new lots will be added if the demand stays strong.

The winning price has now been lowered to 0.21 as a result. So that the possible future overallocation would not lift your old bid above the winline after you have made a new higher bid, it is now possible to cancel bids IFF you make a higher bid for the same or higher amount. The possible canceling of the lower bid must be done simultaneously with the placing of the higher bid.


About 2 days left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.27 iluvbitcoins
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Bassica
1,000 @ 0.22 dnaleor
2,000 @ 0.22 Lord NewLiberty
1,000 @ 0.22 luigi1111
----------------------------------
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)

If the auction would end now, the price would be 0.21 XMR/CKG.

[djjacket]

To alleviate the dearth of gold in the citizens' hands, one of our good nobles has agreed to sell 1,000 gold and HM has accepted it to be included in the auction. The total will now consist of 11 lots of gold. It is not impossible that more new lots will be added if the demand stays strong.

And the poor gold-less peasants rejoiced!

[NewLiberty]

To alleviate the dearth of gold in the citizens' hands, one of our good nobles has agreed to sell 1,000 gold and HM has accepted it to be included in the auction. The total will now consist of 11 lots of gold. It is not impossible that more new lots will be added if the demand stays strong.

And the poor gold-less peasants rejoiced!

Yes, this makes it more likely (and less expensive) to get gold in this auction with the extra supply.
This early gold will produce more stone due to more days of holding it.
Everybody must get stone 

[proride]

1,000 @ 0.23

[rpietila]

To alleviate the dearth of gold in the citizens' hands, one of our good nobles has agreed to sell 1,000 gold and HM has accepted it to be included in the auction. The total will now consist of 11 lots of gold. It is not impossible that more new lots will be added if the demand stays strong.

So that the possible future overallocation would not lift your old bid above the winline after you have made a new higher bid, it is now possible to cancel bids IFF you make a higher bid for the same or higher amount. The possible canceling of the lower bid must be done simultaneously with the placing of the higher bid.


About 1 day 6 hours left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.27 iluvbitcoins
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Bassica
1,000 @ 0.23 proride
1,000 @ 0.22 dnaleor
2,000 @ 0.22 Lord NewLiberty
----------------------------------
1,000 @ 0.22 luigi1111
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)

If the auction would end now, the price would be 0.22 XMR/CKG.

[rpietila]

23 hours left.

[NewLiberty]

Shhhh... no more bids, I'm at the bottom of the win list   
!

[Karl Hungus]

1000 @ 0.24

[rpietila]

To alleviate the dearth of gold in the citizens' hands, one of our good nobles has agreed to sell 1,000 gold and HM has accepted it to be included in the auction. The total will now consist of 11 lots of gold. It is not impossible that more new lots will be added if the demand stays strong.

So that the possible future overallocation would not lift your old bid above the winline after you have made a new higher bid, it is now possible to cancel bids IFF you make a higher bid for the same or higher amount. The possible canceling of the lower bid must be done simultaneously with the placing of the higher bid.


About 10 hours left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.27 iluvbitcoins
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.24 Karl Hungus
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Bassica
1,000 @ 0.23 proride
1,000 @ 0.22 dnaleor
1,000 @ 0.22 Lord NewLiberty
----------------------------------
1,000 @ 0.22 Lord NewLiberty
1,000 @ 0.22 luigi1111
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)

If the auction would end now, the price would be 0.22 XMR/CKG.

[PondSea]

2000@ 0.23

[rpietila]

About 7 hours left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.27 iluvbitcoins
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.24 Karl Hungus
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Bassica
1,000 @ 0.23 proride
2,000 @ 0.23 PondSea
----------------------------------
1,000 @ 0.22 dnaleor
2,000 @ 0.22 Lord NewLiberty
1,000 @ 0.22 luigi1111
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)

If the auction would end now, the price would be 0.22 XMR/CKG.


NEW: Once this auction ends, HM The King will open an ingame coinshop (buy/sell quote for CKG/XMR) for amounts up to 500 CKG.

This is only open for characters already in the game, and will help them in building costs (as they can convert some of the excess gold to moneritos that are required for building, without the need to deposit XMR), or enable their conversion of the labor pool payouts to gold (if they feel that gold value relative to XMR is on the rise, considering also the dividends that gold pays and XMR does not).

[luigi1111]

1,000 @ 0.22
1,000 @ 0.24

[rpietila]

About 30 minutes left until the auction ends.

Situation currently:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.27 iluvbitcoins
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.24 Karl Hungus
1,000 @ 0.24 luigi1111
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.23 Bassica
1,000 @ 0.23 proride
1,000 @ 0.23 PondSea
----------------------------------
1,000 @ 0.23 PondSea
1,000 @ 0.22 dnaleor
2,000 @ 0.22 Lord NewLiberty
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)

If the auction would end now, the price would be 0.23 XMR/CKG.


NEW: Once this auction ends, HM The King will open an ingame coinshop (buy/sell quote for CKG/XMR) for amounts up to 500 CKG.

This is only open for characters already in the game, and will help them in building costs (as they can convert some of the excess gold to moneritos that are required for building, without the need to deposit XMR), or enable their conversion of the labor pool payouts to gold (if they feel that gold value relative to XMR is on the rise, considering also the dividends that gold pays and XMR does not).

[dnaleor]

2000 @ 0.24

[camu6]

1,000 @ 0.25

[rpietila]

Time check.

[rpietila]

The auction has ended.

Results:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.27 iluvbitcoins
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.25 camu1
1,000 @ 0.24 Karl Hungus
1,000 @ 0.24 luigi1111
2,000 @ 0.24 dnaleor
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
----------------------------------
1,000 @ 0.23 Bassica
1,000 @ 0.23 proride
2,000 @ 0.23 PondSea
1,000 @ 0.22 dnaleor
2,000 @ 0.22 Lord NewLiberty
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)

The realized price in the auction: 0.23 XMR/CKG.

[proride]

1,000 @ 0.23
1,000 @ 0.25

[rpietila]

"earlier bid wins over later one"

So, my bid was earlier, wy im not a winner?

There was only one 0.23 bid that fit into winners. Fluffypony's was earlier than you.

[camu6]

The auction has ended.

Results:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.27 iluvbitcoins
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.25 camu1
1,000 @ 0.24 Karl Hungus
1,000 @ 0.24 luigi1111
2,000 @ 0.24 dnaleor
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
----------------------------------
1,000 @ 0.23 Bassica
1,000 @ 0.23 proride
2,000 @ 0.23 PondSea
1,000 @ 0.22 dnaleor
2,000 @ 0.22 Lord NewLiberty
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)

The realized price in the auction: 0.23 XMR/CKG.

To clear up possible future misunderstandings, it is camu6 and not camu1.

[rpietila]

The auction has ended.

Results:

1,000 @ 0.40 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.30 smooth
1,000 @ 0.27 iluvbitcoins
1,000 @ 0.26 djjacket
1,000 @ 0.25 Riccardo, Earl of Forte Spagnolo (fluffypony)
1,000 @ 0.25 camu1
1,000 @ 0.24 Karl Hungus
1,000 @ 0.24 luigi1111
2,000 @ 0.24 dnaleor
1,000 @ 0.23 Riccardo, Earl of Forte Spagnolo (fluffypony)
----------------------------------
1,000 @ 0.23 Bassica
1,000 @ 0.23 proride
2,000 @ 0.23 PondSea
1,000 @ 0.22 dnaleor
2,000 @ 0.22 Lord NewLiberty
1,000 @ 0.21 Riccardo, Earl of Forte Spagnolo (fluffypony)

The realized price in the auction: 0.23 XMR/CKG.

To clear up possible future misunderstandings, it is camu6 and not camu1.

Thanks corrected!

[smooth]

Gold bought in this auction must be paid in 24 hours in monero (XMR). XMR can be bought with BTC here. Non-payment is considered default and results in forfeiture of game assets, or denial to enter the game at a later time, as well as loss of reputation and trust rating.

What is the mechanism for payment?

[PondSea]

Darn 

[Febo]

Darn 

Dont worry next auction will close 29.10.2014.

[Karl Hungus]

Gold bought in this auction must be paid in 24 hours in monero (XMR). XMR can be bought with BTC here. Non-payment is considered default and results in forfeiture of game assets, or denial to enter the game at a later time, as well as loss of reputation and trust rating.

What is the mechanism for payment?

For the previous auction David (Latapie) sent a PM with the payment details, so I assume it will be the same this time

[camu6]

Gold bought in this auction must be paid in 24 hours in monero (XMR). XMR can be bought with BTC here. Non-payment is considered default and results in forfeiture of game assets, or denial to enter the game at a later time, as well as loss of reputation and trust rating.

Almost 17h later and still no payment info was given.

[rpietila]

Gold bought in this auction must be paid in 24 hours in monero (XMR). XMR can be bought with BTC here. Non-payment is considered default and results in forfeiture of game assets, or denial to enter the game at a later time, as well as loss of reputation and trust rating.

Almost 17h later and still no payment info was given.

The trustable servant Earl of Armagnac ("David Latapie" in this forum) gives the payment ids. The 24h naturally starts elapsing only when the id is given The Earl may be sanctifying the holy weekday, I heard he has become quite religious lately, the Eglise and all...

[rpietila]

The following payments are still not registered. We know that the fault is completely in the archaic system of information flow in the Kingdom and the braking down of the hard drive of Earl David's abacus, but just in case the payment id has also not reached you, please inform us.

230   iluvbitcoins

The next auction has started. In the future, we will not arrange them to close on Saturday, so the one going on is scheduled to end Thursday and the one after that, next Monday.

The first building land auction has also started!