If it's not on the blockchain, then it hasn't gone through..
The reason we need you to bid from a supported wallet is so that we can verify that you own the address and send the prize to the right place.
Topic: BlockRun.com - Penny auctions on the blockchain - page 15. (Read 10316 times)
Crapppp I sent .25 from an unsupported wallet I think...I use multibit. I sent .25 on the Nexus and it hasn't shown up as a pending bet 
It isn't showing up on blockchain either yet
I sent from 1Fy1AwqEkXesQAuuzX8LXpiR9UU4xTwDV9 and can screenshot my wallet if needed... I really need a new phone.
I sent with a fee of .0001 which isn't going to help either... darn it.
It isn't showing up on blockchain either yet
I sent from 1Fy1AwqEkXesQAuuzX8LXpiR9UU4xTwDV9 and can screenshot my wallet if needed... I really need a new phone.
I sent with a fee of .0001 which isn't going to help either... darn it.
Thanks 
We are still down overall, but it takes time to get these things going.
A couple of more auctions are ending soon and we'll then be done for today:
http://www.blockrun.com/auctions/lg-google-nexus-4-16gb-1
http://www.blockrun.com/auctions/1-bitcoin-2
We are still down overall, but it takes time to get these things going.
A couple of more auctions are ending soon and we'll then be done for today:
http://www.blockrun.com/auctions/lg-google-nexus-4-16gb-1
http://www.blockrun.com/auctions/1-bitcoin-2
I want to congratulate you on the first auction that made a profit for you guys (the 1 BTC thing).
Unfortunately there is no way that I know of to prove that we are not bidding, but we are certainly not as that would amount to a quick scam and destroy our reputation. We're in Bitcoin for the long-haul & will be releasing a few projects over the coming months, so scamming people would be very short-sighted.
I asked the BTC5 winner to post, but I think he either doesn't have an account or is a newbie as he said he couldn't. He tweeted here:
https://twitter.com/greenglue/status/336649024549560320
Auction on the chain:
http://blockchain.info/address/1Run2RUNo7bw1MB6dR2nNkdU1DNxE5Zwv
The Rhodon address is not us, it is a user who is very keen. It would be really useful for us if they posted here!
I asked the BTC5 winner to post, but I think he either doesn't have an account or is a newbie as he said he couldn't. He tweeted here:
https://twitter.com/greenglue/status/336649024549560320
Auction on the chain:
http://blockchain.info/address/1Run2RUNo7bw1MB6dR2nNkdU1DNxE5Zwv
The Rhodon address is not us, it is a user who is very keen. It would be really useful for us if they posted here!
it seems like there's something fishy going on around here, according to blockchain info
*im not quite familiar in reading blockchain stuff, but the similarity is very weird*
The highest bid [AND NOW THE WINNER] (0.7btc) Transaction ID of 5 bitcoin auction: http://blockchain.info/tx/8dc113f35bdf6277e36a0ddd2e45147925801ba64330456a510cea7dd4628c51
Winner of Nexus 4 Transaction ID: http://blockchain.info/tx/b0c7066ceccec594a548dd552c8373bf89f30f78507a35fa19e9aa0224e3c482
The first bidder of another Nexus 4 auction Transaction ID: http://blockchain.info/tx/08137d975983ef58978c1ca7b22299255357de66e3b0a83518246a971079fc95
One of the bidder of 5 Bitcoin (lose tho) Transaction ID: http://blockchain.info/tx/f678aad35e290df1816ab29e65be2b8379fa7db7abec056ad59908981f5d3945
They all have the same address: 1RhodonBkTHyna6xSBY8Bb8wJDdJoVpTL
*im not quite familiar in reading blockchain stuff, but the similarity is very weird*
The highest bid [AND NOW THE WINNER] (0.7btc) Transaction ID of 5 bitcoin auction: http://blockchain.info/tx/8dc113f35bdf6277e36a0ddd2e45147925801ba64330456a510cea7dd4628c51
Winner of Nexus 4 Transaction ID: http://blockchain.info/tx/b0c7066ceccec594a548dd552c8373bf89f30f78507a35fa19e9aa0224e3c482
The first bidder of another Nexus 4 auction Transaction ID: http://blockchain.info/tx/08137d975983ef58978c1ca7b22299255357de66e3b0a83518246a971079fc95
One of the bidder of 5 Bitcoin (lose tho) Transaction ID: http://blockchain.info/tx/f678aad35e290df1816ab29e65be2b8379fa7db7abec056ad59908981f5d3945
They all have the same address: 1RhodonBkTHyna6xSBY8Bb8wJDdJoVpTL
This is what I was thinking ^^^, what is stopping them from bidding themselves up. Bitcoins transactions are anonymous and I truly don't think there is a way to prove you aren't just bidding yourself up besides saying you aren't (which isn't much proof at all).
The problem I have with this is there's currently no way to prove you're not bidding us up.
If you see that iPad Mini for example nearing the end and you're making a net loss on it, you'll add a bid which will cost you nothing and save you from having to give the iPad away.
How can you counter this claim?
If you see that iPad Mini for example nearing the end and you're making a net loss on it, you'll add a bid which will cost you nothing and save you from having to give the iPad away.
How can you counter this claim?
There is no way to prove that it's fair. That's why I stay away from these auctions. Note that I don't claim that it's a scam.
The problem I have with this is there's currently no way to prove you're not bidding us up.
If you see that iPad Mini for example nearing the end and you're making a net loss on it, you'll add a bid which will cost you nothing and save you from having to give the iPad away.
How can you counter this claim?
If you see that iPad Mini for example nearing the end and you're making a net loss on it, you'll add a bid which will cost you nothing and save you from having to give the iPad away.
How can you counter this claim?
Hey,
What's stopping you from bidding higher every time? Like lets say I bid 0.5, and you bid 0.6. You'd be buying it for 0.6 from yourself & keeping all the bids below?
Maybe Iv'e misunderstood something, but yeh. I'm a little confused in that aspect. It seems like a really cool idea which I can see me getting easily addicted to ^_^
this seems plausible, now i'm having a second thought whether to bid that 1BTC or not.What's stopping you from bidding higher every time? Like lets say I bid 0.5, and you bid 0.6. You'd be buying it for 0.6 from yourself & keeping all the bids below?
Maybe Iv'e misunderstood something, but yeh. I'm a little confused in that aspect. It seems like a really cool idea which I can see me getting easily addicted to ^_^
And seriously, 5BTC for 0.11500001btc??
I could've done better but then, the top comment COULD happenand i actually wanna see the person who won that 5btc to make a post. i mean how hard could it be?
Hey,
What's stopping you from bidding higher every time? Like lets say I bid 0.5, and you bid 0.6. You'd be buying it for 0.6 from yourself & keeping all the bids below?
Maybe Iv'e misunderstood something, but yeh. I'm a little confused in that aspect. It seems like a really cool idea which I can see me getting easily addicted to ^_^
What's stopping you from bidding higher every time? Like lets say I bid 0.5, and you bid 0.6. You'd be buying it for 0.6 from yourself & keeping all the bids below?
Maybe Iv'e misunderstood something, but yeh. I'm a little confused in that aspect. It seems like a really cool idea which I can see me getting easily addicted to ^_^
Over $400.
I suspect the BTC3 bidder may have won BTC5 off us yesterday.
I suspect the BTC3 bidder may have won BTC5 off us yesterday.
Holy crap 3 BTC bid for a nexus lol. Whats retail on those things?
Only 2 blocks left to win a brand new Nexus 4:
http://www.blockrun.com/auctions/lg-google-nexus-4-16gb
So far we have given away BTC6 for a total of BTC0.123
http://www.blockrun.com/auctions/lg-google-nexus-4-16gb
So far we have given away BTC6 for a total of BTC0.123
5 Bitcoins are currently about to close at BTC0.09: http://www.blockrun.com/auctions/5-bitcoins
Thanks Luke, that's a great explanation!
The only slight difference is that you can increment the bids by as much as you like, you just have to beat the previous high bidder.
As the auction gets close to the end, you can also bid with a higher miners fee to help it to hopefully get accepted into a block faster.
Thanks Luke, that's a great explanation!
The only slight difference is that you can increment the bids by as much as you like, you just have to beat the previous high bidder.
As the auction gets close to the end, you can also bid with a higher miners fee to help it to hopefully get accepted into a block faster.
I think it's a pretty neat idea
For those who don't understand how penny auctions work, the markup is made through the commutative bids - so rather than paying the full price you pay a fraction of the price, but you pay per bid..
So the auction for BTC1 starts at BTC0.05 and the excrement is BTC0.01 the first bid has to be BTC0.05 (or more)
So the auction would work as so (in terms of money taken)
Bid 1 BTC0.05
Bid 2 BTC0.06
Bid 3 BTC0.10
Bid 4 BTC0.14
Bid 5 BTC0.2
END
In a normal auction you would only pay BTC0.2 for the BTC1 but in a penny auction you would pay the price of your bid as you bid
So the total made from the auction would be the total value of all bids, in the case BTC0.55, blockrun made a loss in the case, unfortunately
Again I like the idea, it's like a much less scammy version of Madbid
For those who don't understand how penny auctions work, the markup is made through the commutative bids - so rather than paying the full price you pay a fraction of the price, but you pay per bid..
So the auction for BTC1 starts at BTC0.05 and the excrement is BTC0.01 the first bid has to be BTC0.05 (or more)
So the auction would work as so (in terms of money taken)
Bid 1 BTC0.05
Bid 2 BTC0.06
Bid 3 BTC0.10
Bid 4 BTC0.14
Bid 5 BTC0.2
END
In a normal auction you would only pay BTC0.2 for the BTC1 but in a penny auction you would pay the price of your bid as you bid
So the total made from the auction would be the total value of all bids, in the case BTC0.55, blockrun made a loss in the case, unfortunately
Again I like the idea, it's like a much less scammy version of Madbid
Thanks TradeFortress!
@elitenoob;
Someone should NOT bid more than BTC5 to win BTC5. The idea is that the winner will get BTC5 for perhaps BTC0.5 , BTC1 or BTC3. The cumulative losing bids subsidise the the winner getting a prize for a lot less than its true value. We anticipate to be making a net loss on the first few auctions, but that's the price of getting something off the ground!
Any other questions, just ask
@elitenoob;
Someone should NOT bid more than BTC5 to win BTC5. The idea is that the winner will get BTC5 for perhaps BTC0.5 , BTC1 or BTC3. The cumulative losing bids subsidise the the winner getting a prize for a lot less than its true value. We anticipate to be making a net loss on the first few auctions, but that's the price of getting something off the ground!
Any other questions, just ask
Why should someone bid more than 5BTC for the 5BTC auction? Does it makes sense? Not for me though.
Yeah I'm wondering this too.
Why should someone bid more than 5BTC for the 5BTC auction? Does it makes sense? Not for me though.
I like it, I'll be trying it out soon!
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