0.1 BTC up for Auction! Bidding starts at 0.01 BTC! - page 3.

souspeed

full member

Activity: 154

Merit: 1000

Fica Tranquilo

Quote from: serje on February 16, 2014, 07:31:16 AM

Quote from: souspeed on February 16, 2014, 07:27:10 AM

Quote from: serje on February 16, 2014, 07:21:21 AM

Quote from: coinnewbit on February 16, 2014, 07:18:49 AM

the fk i have to pay too? cancel bid

you never saw this comming mate?

you can still bid 0.11 and the you have to send him 0.01 and i will have to send 0.01 to him

that's the best deal for us

or we can just delete out posts and go on with our lives

You should really try to understand the rules before you make a bid!
The two highest bidders will both will have to pay the amount that they bid.

At the moment of speaking I don't have to pay anything because I won 0.1 witch is exactly what I bided
The only one who has to pay is the guy after my bid!

You will have to pay 0.1!
Afterwards you will receive the price money, but only if you remain the highest bidder!

souspeed

full member

Activity: 154

Merit: 1000

Fica Tranquilo

Quote from: erre on February 16, 2014, 07:28:06 AM

Quote from: erre on February 16, 2014, 07:27:22 AM

From your wiki link:

Quote

The setup involves an auctioneer who volunteers to auction-off a dollar bill with the following rule: the bill goes to the winner; however, the two highest bidders must pay the highest amount they bid. The winner can get a dollar for mere five cents, but only if no one else enters into the bidding war. The second-highest bidder is the biggest loser by paying the top amount he/she bid without getting anything back. The game begins with one of the players bidding 5 cents (the minimum), hoping to make a 95 cent profit. He can be outbid by another player bidding 10 cents, as a 90 cent profit is still desirable. Similarly, another bidder may bid 15 cents, making an 85 cent profit. Meanwhile, the second bidder may attempt to convert his loss of 10 cents into a gain of 80 cents by bidding 20 cents, and so on. Every player has a choice of either paying for nothing or bidding five cents more on the dollar. Any bid beyond the value of a dollar, is a loss for all bidders alike. Only the auctioneer gets to profit in the end.[1]

This game can be beaten only if the game players are irrational.

with your added rule (the 2 highest biid >0.1), NOBODY, rational or irrational, can beat it.
Without the added rule it could had been interesting, like this u're just asking for money

Yep, it's a scam!

serje

legendary

Activity: 1232

Merit: 1002

Quote from: souspeed on February 16, 2014, 07:27:10 AM

Quote from: serje on February 16, 2014, 07:21:21 AM

Quote from: coinnewbit on February 16, 2014, 07:18:49 AM

the fk i have to pay too? cancel bid

you never saw this comming mate?

you can still bid 0.11 and the you have to send him 0.01 and i will have to send 0.01 to him

that's the best deal for us

or we can just delete out posts and go on with our lives

You should really try to understand the rules before you make a bid!
The two highest bidders will both will have to pay the amount that they bid.

At the moment of speaking I don't have to pay anything because I won 0.1 witch is exactly what I bided
The only one who has to pay is the guy after my bid!

erre

legendary

Activity: 1680

Merit: 1205

Quote from: erre on February 16, 2014, 07:27:22 AM

From your wiki link:

Quote

The setup involves an auctioneer who volunteers to auction-off a dollar bill with the following rule: the bill goes to the winner; however, the two highest bidders must pay the highest amount they bid. The winner can get a dollar for mere five cents, but only if no one else enters into the bidding war. The second-highest bidder is the biggest loser by paying the top amount he/she bid without getting anything back. The game begins with one of the players bidding 5 cents (the minimum), hoping to make a 95 cent profit. He can be outbid by another player bidding 10 cents, as a 90 cent profit is still desirable. Similarly, another bidder may bid 15 cents, making an 85 cent profit. Meanwhile, the second bidder may attempt to convert his loss of 10 cents into a gain of 80 cents by bidding 20 cents, and so on. Every player has a choice of either paying for nothing or bidding five cents more on the dollar. Any bid beyond the value of a dollar, is a loss for all bidders alike. Only the auctioneer gets to profit in the end.[1]

This game can be beaten only if the game players are irrational.

with your added rule (the 2 highest biid >0.1), NOBODY, rational or irrational, can beat it.
Without the added rule it could had been interesting, like this u're just asking for money

erre

legendary

Activity: 1680

Merit: 1205

From your wiki link:

Quote

The setup involves an auctioneer who volunteers to auction-off a dollar bill with the following rule: the bill goes to the winner; however, the two highest bidders must pay the highest amount they bid. The winner can get a dollar for mere five cents, but only if no one else enters into the bidding war. The second-highest bidder is the biggest loser by paying the top amount he/she bid without getting anything back. The game begins with one of the players bidding 5 cents (the minimum), hoping to make a 95 cent profit. He can be outbid by another player bidding 10 cents, as a 90 cent profit is still desirable. Similarly, another bidder may bid 15 cents, making an 85 cent profit. Meanwhile, the second bidder may attempt to convert his loss of 10 cents into a gain of 80 cents by bidding 20 cents, and so on. Every player has a choice of either paying for nothing or bidding five cents more on the dollar. Any bid beyond the value of a dollar, is a loss for all bidders alike. Only the auctioneer gets to profit in the end.[1]

This game can be beaten only if the game players are irrational.

with your added rule, NOBODY, rational or irrational, can beat it.
Without the added rule it could had been interesting, like this u're just asking for money

souspeed

full member

Activity: 154

Merit: 1000

Fica Tranquilo

Quote from: serje on February 16, 2014, 07:21:21 AM

Quote from: coinnewbit on February 16, 2014, 07:18:49 AM

the fk i have to pay too? cancel bid

you never saw this comming mate?

you can still bid 0.11 and the you have to send him 0.01 and i will have to send 0.01 to him

that's the best deal for us

or we can just delete out posts and go on with our lives

You should really try to understand the rules before you make a bid!
The two highest bidders will both will have to pay the amount that they bid.

serje

legendary

Activity: 1232

Merit: 1002

Quote from: coinnewbit on February 16, 2014, 07:18:49 AM

the fk i have to pay too? cancel bid

you never saw this comming mate?

you can still bid 0.11 and the you have to send him 0.01 and i will have to send 0.01 to him

that's the best deal for us

or we can just delete out posts and go on with our lives

coinnewbit

sr. member

Activity: 266

Merit: 250

the fk i have to pay too? cancel bid

serje

legendary

Activity: 1232

Merit: 1002

Quote from: coinnewbit on February 16, 2014, 05:46:37 AM

Heyhey swiper no swiping 0.08

Ok to end this I have to bit 0.1BTC

if he continues bidding then he is a scam!

so I don't win shit and the owner get's 0.02 from coinnewbit!

Good luck!

coinnewbit

sr. member

Activity: 266

Merit: 250

lol btw is there a formula for counting waiting times between each post?

souspeed

full member

Activity: 154

Merit: 1000

Fica Tranquilo

Quote from: coinnewbit on February 16, 2014, 06:02:55 AM

hey i am not a sock puppet i am a MAN now

Actually I don't care who is the sock puppet or who is the victim.
So enjoy you scam / being scammed! Cool

coinnewbit

sr. member

Activity: 266

Merit: 250

hey i am not a sock puppet i am a MAN now

souspeed

full member

Activity: 154

Merit: 1000

Fica Tranquilo

Quote from: serje on February 16, 2014, 05:53:38 AM

If you check the time stamp of the first post you will see that 24 hours passed and only the second condition has to be completetd!

You never stated that the bidding time goes up with 24 hours after each bid!

So the winner should be me!

Sorry serje.

See below.

Your bid makes it 0.1 which is not > 0.1.
Furthermore; it says after the sum is > 0.1 there will be 24 hours timer.

OP will never loose, it's a scam!
He can even outbid you with his own sock puppet!

Quote from: gavgav on February 12, 2014, 04:48:39 PM

Sorry forgot to explain Embarrassed

The auction will end 24 hours (determined by time stamp on forum post) after the sum of the 2 highest bidders is >0.1BTC.

This still leaves the ability for someone to make a nice, healthy profit

Happy bidding

serje

legendary

Activity: 1232

Merit: 1002

If you check the time stamp of the first post you will see that 24 hours passed and only the second condition has to be completetd!

You never stated that the bidding time goes up with 24 hours after each bid!

So the winner should be me!

souspeed

full member

Activity: 154

Merit: 1000

Fica Tranquilo

Quote from: serje on February 16, 2014, 05:12:01 AM

Quote from: serje on February 16, 2014, 05:09:54 AM

Quote from: gavgav on February 16, 2014, 05:03:40 AM

Quote from: coinnewbit on February 16, 2014, 05:02:08 AM

0.04
bidding here still available?

Indeed! You are now the high bid

so If I bid 0.07 I'm the winner? and will get 0.03?

if my logic is correct then I bid!

If I won send me a PM to give you an address! Or just send it to my signature BTC address

The other bidder can still bid 0.08. Grin

he actually has to, see how it works! Wink

In the end you will both even have to bid higher than the actual payout, just to minimize your losses.
The forum even allows suck puppets to bid as well!!!!

It's basically a scam!
You think you can win, but the two highest bidders (if there is no suck puppet) will always loose!

@ the mods:
I know the forum is liberal enough to have people being scammed, however this is a good example that even the most obvious scam does attracted victims!!!
And there will be more easy victims on this forum as bitcoin becomes more mainstream.

I know it is difficult to come up with proper solution, however maybe there should be a 'possible scam' section?

coinnewbit

sr. member

Activity: 266

Merit: 250