Topic: ASICMINER: board seat (equivalent of 5000 shares) for sale - page 6. (Read 15504 times)

PM.6: update 100 @ 0.38 -> 100 @ 0.40

Current bidding state (2012-02-16T10:30Z) up to post #119:

-- # -- -----Bidder----- --Amount-- --BTC/Share--
  93     wisard             300        0.40
 116     skibum             100        0.40
 119     ghostshirt         200        0.40
 113     asnonmous         4400        0.39
-------------------- Outbid -------------------
 113     asnonmous          600        0.39
 119     ghostshirt         100        0.39
  82     kjj                100        0.38
  84     LainZ (PM)         100        0.38
  93     wisard             200        0.38
  94     Vezunchik          200        0.38
 101     PM.6               100        0.38
 112     mb300sd            500        0.38
  62     bitcad             100        0.37
  78     asnonmous         5000        0.37
  47     wisard             300        0.36
  63     DiabloD3           200        0.36
  77     PM.3              4500        0.36
  44     PM.8              1400        0.35
  59     PM.7              5000        0.35
  47     wisard             300        0.34
  53     ahdinosaur         200        0.34
  44     PM.7              1000        0.33
  50     DiabloD3           100        0.33
  59     PM.9               200        0.33
  30     superbit           100        0.32
  34     PM.4               200        0.32
  43     ThickAsThieves     300        0.32
  31     Vezunchik          400        0.31
  32     TradeFortress      100        0.31
  34     PM.2               800        0.31
   8     Vezunchik          300        0.30
   9     SaintFlow          100        0.30
  16     kjj                100        0.30
  21     Vezunchik          100        0.30
  22     PM.2               700        0.30
  23     wisard             200        0.30
  24     Blazr              100        0.30
  25     superbit           100        0.30
  26     PM.3              3300        0.30
  69     qukkM              200        0.30
------- ---------------- ---------- -----------

Please update my bid as:
200 @ 0.40
100 @ 0.39

Confirmed.

You mean you add a new bid 200 @ 0.38 to the existing 200 @ 0.38 one?

You're confusing me , but it is outbid now anyhow. Please clarify if you want it added.

Oops, I did not notice the bid from asnonmous (post #113).  I am increasing my bid:

• OLD BID: 100 @0.38BTC
• NEW BID: 100 @0.40BTC

Thank you

I am increasing my bid:

• OLD BID: 100 @0.31BTC
• NEW BID: 100 @0.38BTC

Thank you

5000 @ 0.39

500 @ 0.38

Replaces all previous bids.

Clearly wrote.

If you worry about situation when you have [email protected] [email protected] and +20 BTC, but [email protected] is under outbid price and you want [email protected] - then that's the problem. On eBay all items for any bid has the same price, growing up. My be here we must say "Summary BTC ammount for any bid growing up". For example [email protected]>[email protected](30->30 BTC) [email protected]>[email protected](50->70 BTC)?


I know, i know.
But what can I do with my nature... 

Quick question...  Will the first dividend be paid to the winners?

[email protected]#94 - Confirmed
[email protected]        - The new one

Hmm? Ack for the first part (treating the shares as blocks of 100), but not for the second part.

See for yourself:
 * go to eBay and start bidding in a multi-item auction (say someone sells 50 USB cables)
 * you bid for 10 items at 0.3$ each
 * that bid becomes binding, i.e. all you can do is increase the price for some items
 * no way you can drop that bid and change to e.g. 7 at 0.4$ each
 * if noone outbids you, you are going to get 10 cables, no matter what

To me that's the only reasonable way to implement binding bids, not?

Thanks for the clarification. However, I believe that we can think this auction as follows: there are 50 units of the same entity (100 shares) that are being auctioned at the same time. Since the minimum amount is 1 unit (100 shares), I can lower my bid only to 1 unit, right? 300, then 200, then 100 shares and that's it. If I start bidding for 3 units, at certain point my budget would might allow me bid for only 1 unit. That does not sound implausible to me but rules are rules at the end.

That's why they are so expensive and we should try to avoid them

@ghostshirt:
No, you can't just drop an existing bid of 300 @ 0.37 and change it to 200 @ 0.39. Isn't that obvious, since otherwise someone changing his mind would just update to higher bids with less shares until he reaches zero.

What you can do is: split your existing bid of 300 @ 0.37 into two blocks (200 + 100) and update 200 shares to 0.39, ending with 100 @ 37 + 200 @ 39.


Does the auction board really have no defined rules. If so, they are obviously overdue

Upon multiple requests from bidders, I want to clarify one burning question.

When and how is this going to end
The OP states
The second condition should be clear, since it is a defined event. To be more precise, it is the time when the dividend payments for the 5k shares propagate the network (received time). If this will be the ending event, I'll post the related transaction ID and invalidate all bids placed thereafter.

The first condition should be obvious for those who ever bid on ricardo. It requires that a) the given deadline passed and b) that during the previous 12h no counter-bids were placed. This is typically used to prevent bid snipers from getting the item at the deadline's very last second. In addition to that and in light of this being a global auction, I put it to be a 12h silent period to even out time-zone effects.

As one bidder pointed out, this opens the door for someone to prolong the auction to infinity. Well almost, since the second event (first divs payment) is an absolute deadline. Plus, since it is required to counter-bid (i.e. modifying the previous distribution, bidding below outbid is ignored) doing this costs the bidder something and he won't do it just for fun.


tl;dr: in worst case, you will receive your shares shortly after first ASICMINER dividend payments, in best case when the trading platform opens (which is only shortly before).

 

Now I can understand why people needs lawyers - every rule may be interpreted in many ways and there is always weak points in it...

So, to make some things clear, my bid is 300 @ 0.37 at the moment. Can I change it to 200 @ 0.39 or is it against the rules? All I can do is to update is as 300 @ some price above 0.37? Sorry about this. I got confused.