Topic: BidStack - Auction of 60 Casascius Aluminium coins, participate from 0.01BTC (Read 750 times)

I am presenting my pet project: BidStack.

I will auction 60 aluminium casascius promo coins including world wide shipping. To do this, I have build a website which keeps track of everyone participating. It works as follows:

1. Go to the site: ------ (removed because there was to little interest)
2. The site will generate a unique payment address for you.
3. The site will generate a unique user secret for you.
4. Pay the amount you would like (the more you pay, the higher the change you will be picked as the winner).
5. Wait for the target price (0.3 BTC, that includes world wide shipping) to be reached.
6. If your address is picked as the winning address (more on the details of how this works below), tell me your secret (generate in step 3) by sending me a message on this forum.
7. I will confirm that you have indeed won the action by cross checking the winning address/secret combination with the secret you told me.
8. You send me your shipping details.
9. I send you the coins.

Picking a winner works as follow:
1. Get a list of all participating addresses.
2. Every address is included x times in the list. X is the amount of 0.01BTC that fits in the balance of the address.
3. Pick a random address from the list.

As you can see, the more you pay, the higher the change you win. So this is a combination of an auction and a lottery. The transaction list, the progress and the balance of your address are updated in real time (no need to refresh the page).

Why have I created this website instead of just posting the auction here? I wanted to learn some new programming techniques (nodejs, websockets) and use some new software (mongo db, blockchain info merchant API). What better way then by creating something usefull?