Bidding bots gone wild ? | Bitcointalksearch.org

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: btc_artist on November 30, 2011, 11:53:06 PM

Quote from: SgtSpike on November 30, 2011, 11:31:05 PM

Quote from: BurtW on November 29, 2011, 10:59:49 PM

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. Tongue

mokimarket

sr. member

Activity: 422

Merit: 250

Quote from: BurtW on November 29, 2011, 10:59:49 PM

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://bitcointalksearch.org/topic/why-penny-auctions-are-not-a-scam-53163

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)

btc_artist

full member

Activity: 154

Merit: 102

Bitcoin!

Quote from: SgtSpike on November 30, 2011, 11:31:05 PM

Quote from: BurtW on November 29, 2011, 10:59:49 PM

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

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: BurtW on November 29, 2011, 10:59:49 PM

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

full member

Activity: 154

Merit: 102

Bitcoin!

This is why penny auctions are evil.

jduck1987

member

Activity: 81

Merit: 10

Quote from: BurtW on November 29, 2011, 10:59:49 PM

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?

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

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!

Topic: Bidding bots gone wild ? (Read 1724 times)