But if the 1 BTC user is outbid, people will call shenanigans on the auction. Why would someone pay more than 1 BTC to get 1 BTC?
To troll the person bidding 1 BTC.I'd almost bid 1.00000001 just to troll anyone who bid 1.
Topic: BlockRun.com - Penny auctions on the blockchain - page 5. (Read 10316 times)
I'd almost bid 1.00000001 just to troll anyone who bid 1.
As in, before it enters "blockrun" mode. That's when the "penny auction" really starts. The whole point of 0 fee TX is to minimize the cost of the DoS operation. An attacker can place 1 BTC bids at no cost to him. If someone bids higher than 1 BTC, it will undermine the trust of the site. Since any bid higher than 1 BTC is a guaranteed net loss, it's highly likely that the bidder is the site owner.
The only reason somebody would so this is to basically troll the auction. There is also the chance that the BTC1 wouldn't be confirmed, allowing others a chance to bid a lower amount in the hope they win. Either way, there is always a chance a user could be outbid.
I'd almost bid 1.00000001 just to troll anyone who bid 1.
As in, before it enters "blockrun" mode. That's when the "penny auction" really starts. The whole point of 0 fee TX is to minimize the cost of the DoS operation. An attacker can place 1 BTC bids at no cost to him. If someone bids higher than 1 BTC, it will undermine the trust of the site. Since any bid higher than 1 BTC is a guaranteed net loss, it's highly likely that the bidder is the site owner.
The only reason somebody would so this is to basically troll the auction. There is also the chance that the BTC1 wouldn't be confirmed, allowing others a chance to bid a lower amount in the hope they win. Either way, there is always a chance a user could be outbid.
1 Bitcoin is ending now:
http://www.blockrun.com/auctions/1-bitcoin-18
The only reason somebody would so this is to basically troll the auction. There is also the chance that the BTC1 wouldn't be confirmed, allowing others a chance to bid a lower amount in the hope they win. Either way, there is always a chance a user could be outbid.
http://www.blockrun.com/auctions/1-bitcoin-18
As in, before it enters "blockrun" mode. That's when the "penny auction" really starts. The whole point of 0 fee TX is to minimize the cost of the DoS operation. An attacker can place 1 BTC bids at no cost to him. If someone bids higher than 1 BTC, it will undermine the trust of the site. Since any bid higher than 1 BTC is a guaranteed net loss, it's highly likely that the bidder is the site owner.
The only reason somebody would so this is to basically troll the auction. There is also the chance that the BTC1 wouldn't be confirmed, allowing others a chance to bid a lower amount in the hope they win. Either way, there is always a chance a user could be outbid.
They're bleeding money so I'm guessing they're sticking to bitcoin for bitcoin auctions. Those always seem to be profitable. But it would be a real shame if someone bid 1 BTC with 0 tx fee a few blocks before the auction started.
Before the auction started? You don't have the address to pay in by then yet?!
Also even without a fee it will eventually confirm.
They're bleeding money so I'm guessing they're sticking to bitcoin for bitcoin auctions. Those always seem to be profitable. But it would be a real shame if someone bid 1 BTC with 0 tx fee a few blocks before the auction started.
Before the auction started? You don't have the address to pay in by then yet?!
Also even without a fee it will eventually confirm.
Bitcoin listed for tomorrow, we'll also be putting some more products up in the coming days 
They're bleeding money so I'm guessing they're sticking to bitcoin for bitcoin auctions. Those always seem to be profitable. But it would be a real shame if someone bid 1 BTC with 0 tx fee a few blocks before the auction started.
Ya... Tmr is a holiday for me and i guess i can stay up late and bid tonight
when I subscribe, does it notify me for all auctions, or just the on I sub to? I keep missing auctions.
You get all new bids etc for just the one you subscribe to. But you should also get 1 "blockrunning" email for all auctions, unless you have unsubscribed from that one!
when I subscribe, does it notify me for all auctions, or just the on I sub to? I keep missing auctions.
Just won the 1Btc auction. Do I really have to sign up to claim my prize?
Yep, but if you really don't want to, post your signature of the "Winner" signed message here & I'll verify manually
Congrats on winning
Signed message: G3PG0i3ao3C4v9M5iKecTuZQVEdxrJj+H11CHpdl5u0xdGrxf0aFTRq4tIl2KZb1u56MmwzP1QPqqD9sEZ5ZzmY=
Thanks, verified and paid:
http://blockchain.info/tx/7569195363c87db4482d42e106c514eb4e9a63b38f74f43c7959c19bf1c5e340
oH HELL nnevermind... I got this tied in with the buckets game.
I don't see what advantage a bot would have. You should worry more about the owners bidding up their own auctions.
by owners... you mean miners, or those initiating transactions?HOW GREEDY!
Just won the 1Btc auction. Do I really have to sign up to claim my prize?
Yep, but if you really don't want to, post your signature of the "Winner" signed message here & I'll verify manually
Congrats on winning
Signed message: G3PG0i3ao3C4v9M5iKecTuZQVEdxrJj+H11CHpdl5u0xdGrxf0aFTRq4tIl2KZb1u56MmwzP1QPqqD9sEZ5ZzmY=
Just won the 1Btc auction. Do I really have to sign up to claim my prize?
Yep, but if you really don't want to, post your signature of the "Winner" signed message here & I'll verify manually
Congrats on winning
Damn, was out of the house for that one!
Just won the 1Btc auction. Do I really have to sign up to claim my prize?
I don't see what advantage a bot would have. You should worry more about the owners bidding up their own auctions.
Nah, we don't do that. I'd rather make a loss and have to shut down the service than to basically steal money off people!
1 Bitcoin closing soon
http://www.blockrun.com/auctions/1-bitcoin-17
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