BlockRun.com - Bitcoin Auctions - page 5.

gweedo

legendary

Activity: 1498

Merit: 1000

Quote from: dipsy on May 20, 2013, 02:11:26 PM

5 Bitcoins currently about to close at BTC0.09:
http://www.blockrun.com/auctions/5-bitcoins

Get your bids in Grin

You do realize no one can win, since you only have 3 blocks until it is over, and confirmation takes either 3 blocks or more as I can see by the unconfirmed bids.

dipsy

full member

Activity: 210

Merit: 100

5 Bitcoins currently about to close at BTC0.09:
http://www.blockrun.com/auctions/5-bitcoins

Get your bids in Grin

dipsy

full member

Activity: 210

Merit: 100

In theory, if we were really clever we could bid on our own auction. But this is not in our interest as we want people to win, tell others they have won, and encourage more people to play. Also, that's just not how we operate as it's dishonest & not cool! We know we will probably make losses on the first few auctions and are happy to take the hit in order to get things going.

You'll notice that we have no winners right now as have just launched, but we're offering an BTC0.5 to winners who give a testimonial: http://www.blockrun.com/winners

@Grinny;
Thanks, we have amended the typo. The winner wins the product/coins for a low price, losers lose their bids, we either make a profit or a loss.

Grinny

sr. member

Activity: 390

Merit: 250

The most important sentence has a typo: Embarrassed

Quote

Losing bids are not are not refunded, only the highest bid wins!

So..... everyone loses except you?

schalk

newbie

Activity: 36

Merit: 0

So if we lose the auction, we lose our bitcoins. What stops you from participating in the auction to ensure you always win, or at least so you sometimes prevent other people from winning?

dipsy

full member

Activity: 210

Merit: 100

We have added "Confirmed bids" so that users can view previous biding history on the page:
http://www.blockrun.com/auctions/5-bitcoins

Any questions, or feature requests?

dipsy

full member

Activity: 210

Merit: 100

Thanks

bitcoinstarter

hero member

Activity: 484

Merit: 500

Quote from: dipsy on May 16, 2013, 04:10:28 PM

We've just launched http://www.blockrun.com , a play on penny auctions built on top on the blockchain.

- Each auction has its own bid address
- Auctions last for a certain number of blocks
- When blocks reach 0, each new bid extends the auction by 3 blocks
- There needs to be 3 new blocks with no transactions associated with that auction for a winner to be declared
- The highest bid wins, all other bids lose (we send winning and losting transactions)
- Winners are confirmed after 6 confirmations
- Winner creates a signed message to confirm they own the address

How it works: http://www.blockrun.com/how_it_works
FAQ: http://www.blockrun.com/faq
Auction for 5 coins: http://www.blockrun.com/auctions/5-bitcoins

Get bidding Wink

Looking good guys! Grin

dipsy

full member

Activity: 210

Merit: 100

We've just launched http://www.blockrun.com , a play on penny auctions built on top on the blockchain.

- Each auction has its own bid address
- Auctions last for a certain number of blocks
- When blocks reach 0, each new bid extends the auction by 3 blocks
- There needs to be 3 new blocks with no transactions associated with that auction for a winner to be declared
- The highest bid wins, all other bids lose (we send winning, and losing transactions when you have been outbid)
- Winners are confirmed after 6 confirmations
- Winner creates a signed message to confirm they own the address

How it works: http://www.blockrun.com/how_it_works
FAQ: http://www.blockrun.com/faq
Auction for 5 coins: http://www.blockrun.com/auctions/5-bitcoins

Get bidding Wink

Topic: BlockRun.com - Bitcoin Auctions - page 5. (Read 4077 times)