Are you joking? There is completely the possibility for the owner to cheat.
The owner can always submit the last bid, keeping the prize for themselves and taking everyone else's bids.
These kind of auctions are really stupid. They only benefit the auction site owner, and everyone else loses.
Topic: [BidOnBitcoins.com] Dollar Auction game for Bitcoins - page 2. (Read 2520 times)
I want to introduce my new service: BidOnBitcoins.com.
This auction is a game, based on the Martin Shubik's dollar auction. Rules are very simple: certain number of Bitcoins are being placed for sale and user who made greatest bid wins the prize. The distinction with a traditional auction is that all users have to pay for their highest bids, but not only the winner. All bids are transparent, there are no random number generator and any possibility for owner to cheat. Deposits and referral payments are fully automated and being processed instantly with BitPing.
Have a fun playing!
This auction is a game, based on the Martin Shubik's dollar auction. Rules are very simple: certain number of Bitcoins are being placed for sale and user who made greatest bid wins the prize. The distinction with a traditional auction is that all users have to pay for their highest bids, but not only the winner. All bids are transparent, there are no random number generator and any possibility for owner to cheat. Deposits and referral payments are fully automated and being processed instantly with BitPing.
Have a fun playing!
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