The Price clock:
I am having a falling price auction on a BFL Single.
The item: One BFL Single.
I am near the top of the list for delivery:https://bitcointalk.org/index.php?topic=77796.0
I can't guarantee when it will be delivered but it should be "soon". I have confirmation from two indirect sources that it should most likely ship next week, however I can't be held responsible if shipment is delayed. The risk is what makes it fun!
Tomorrow morning I will ask BFL to not ship the my single to me and instead ship it directly to the winner. Winner will not receive the Single until payment is made in full. On the off chance BFL has already shipped it to me or they won't allow me to change the delivery address I will ship it directly to the winner unopened once it arrives.
Domestic shipping is included in bidding price. International bidders will need to pay BFL (or me) the difference between domestic and international shipping.
1) The price starts at 200 BTC @ 00:00:00 05/25/2012 UTC Time.
2) The price will decline by 10,000 satoshis (0.0001 BTC) every second.After 00:00:00 05/26/2012 UTC the price velocity will be increased to 30,000 satoshis (0.0003 BTC/s)
See post #14
3) The current price can be computed at follows. Official Current Price = 200 BTC - (# of seconds since 00:00:00 5/25/2012 UTC)*(0.0001 BTC) After 00:00:00 05/26/2012 UTC Official Current Price = 191.36 BTC - (# of seconds since 00:00:00 5/26/2012 UTC)*(0.0003 BTC)
See post #14
4) The price clock below is provided for convenience. If the price clock is different than the official price (due to error, computer failure, denial of service attack or other reason) then the official current price as calculated above remains in effect.
5) The falling price auction continues until someone posts "BUY" in this thread with the current price
. Posting "BUY" is a formal commitment to buy the single at the current price and buyer agrees to prompt payment.
6) There is a hidden reserve price. If price falls below hidden reserve price with no bids then the auction is void (ends with no winner). A hash of the hidden reserve price will be provided in post #2. I will close the auction and reveal the hidden price (which can be confirmed by the hash).
On edit: based on recommendation I have decided to remove the reserve. Auction continues until there is either a BUY or price hits 0 satoshis.
7) Payment is required immediately. If you have good rep, don't have the funds, and still want to bid you MUST contact me via PM BEFORE bidding
to get approval. I am willing to accept payment delayed by a few days (waiting for Dwolla to clear, etc) but only with prior approval. In the PM indicate how much you have available for immediate payment, how you intend to collect balance, and estimated time frame.
8 ) Winner agrees to pay interest of 0.5% per day on delayed payment (only w/ prior approval see #7).
9) Anyone making a BUY post without ability to immediately pay (or securing approval for delayed payment) agrees in advance to pay a forfeit fee of 10 BTC for disrupting the auction. Failure to pay will be considered a scam.
10) Payment is in Bitcoins only.
Unless you have extensive trading history you should have coins in hand before bidding. Maybe our resident lenders in the lending forum would be willing to offer financing for a short term loan?
Let the prices fall. How long can it go?
The Price clock:
Edit May 24 - Removed reserve