[Brainstorm] How do we verify/validate newbie/unknown bidders in larger auctions - page 2.

OgNasty

donator

Activity: 4760

Merit: 4323

Leading Crypto Sports Betting & Casino Platform

Quote from: BitcoinPenny on December 05, 2018, 03:39:01 PM

How might we stop shill bidding scoundrels? That’s my question.

When you see a high bid from a suspected shill, step back and let them win. Eventually they'll figure it out. The community should also take a harsher stance to those who have been caught manipulating auctions, and those who have knowingly allowed it while staying silent.

BitcoinPenny

legendary

Activity: 2676

Merit: 2203

BitcoinPenny.com

Quote from: krogothmanhattan on December 05, 2018, 03:23:40 PM

Lots of good points...however I feel this thread is also pointing out on possible alts made by the seller himself.

How does one verify that?

In other words prevent shill bidding from happening

^^^ This is my concern too.

Reading the comments thus far, it seems the collectibles community is talking about two distinct problems.

If the problem is a newbie account not paying after the win, then yes, an escrow deposit would be a good solution. Personally, I’ve never seen that as a problem in need of a solution.

However, I am concerned with shill bidding. Unfortunately, an escrow deposit does nothing to stop shill bidding.

How might we stop shill bidding scoundrels? That’s my question.

Regards,
Chris

BitcoinNewsMagazine

legendary

Activity: 1806

Merit: 1164

LC's solution has proven to work so I think I would do the same if I were auctioning, can't argue with success:) I would go one step further and also require new accounts to have Copper membership.

The Copper membership requirement might cut down on the shill bidding, might not. Have to try and see. The problem is someone auctioning who wants shill bids would not require the Copper membership. I also don't see a moderator putting a rule in place requiring Copper membership for new accounts to participate in auctions.

teeGUMES

legendary

Activity: 1253

Merit: 1203

Quote from: Ticked on December 05, 2018, 02:54:40 PM

Quote from: bavicrypto on December 05, 2018, 02:43:44 PM

I’d say it’s a good idea for newbie accounts to make a small deposit to a third party, trusted person, like MJ.
That way the escrow can always confirm the deposit, and hold it in case the newbie doesn’t honor his bid.
Once the newbie account has plenty of feedback to confirm he’s legit, there’s no more need for this ofcourse.
What do you guys think about this?

I can't believe I agree with bavi. I agree with bavi. One caveat, how much of a deposit is necessary to bid on an item considering in auctions we won't know the final price.

I'd alter a bit and say put x amount in escrow and signed message from a wallet showing balance capable of paying for the item at hand.

Escrows don't work for free and this is a lot of responsibility if something falls through and said escrow 'vouches' for them through this service.
It's going to be tough to find something that works and it's the reason we don't already have something in place.

I think copper membership is a start and a must. But needs something further.

Lesbian Cow

legendary

Activity: 3066

Merit: 1757

I use this verbiage:

Excluded from Bidding: I may exclude/disqualify bidders, or require a deposit, for any bidders at my sole discretion. If you are a brand new account, or have issues in your trust feedback, please PM prior to bidding.

I haven't had a single non paying winning bidder on any of my auctions. I have had a few ghost when asked to put a deposit.

Edit to add: Regarding shill bidders, I cannot think of a way to 100% eliminate that possibility with the forum set up. You would need a centralized authority such as ebay.

krogothmanhattan

legendary

Activity: 2520

Merit: 3238

The Stone the masons rejected was the cornerstone.

Lots of good points...however I feel this thread is also pointing out on possible alts made by the seller himself.

How does one verify that?

In other words prevent shill bidding from happening Huh

Ticked

sr. member

Activity: 1526

Merit: 473

Quote from: bavicrypto on December 05, 2018, 02:43:44 PM

I’d say it’s a good idea for newbie accounts to make a small deposit to a third party, trusted person, like MJ.
That way the escrow can always confirm the deposit, and hold it in case the newbie doesn’t honor his bid.
Once the newbie account has plenty of feedback to confirm he’s legit, there’s no more need for this ofcourse.
What do you guys think about this?

I can't believe I agree with bavi. I agree with bavi. One caveat, how much of a deposit is necessary to bid on an item considering in auctions we won't know the final price.

I'd alter a bit and say put x amount in escrow and signed message from a wallet showing balance capable of paying for the item at hand.

bavicrypto

copper member

Activity: 1918

Merit: 254

I’d say it’s a good idea for newbie accounts to make a small deposit to a third party, trusted person, like MJ.
That way the escrow can always confirm the deposit, and hold it in case the newbie doesn’t honor his bid.
Once the newbie account has plenty of feedback to confirm he’s legit, there’s no more need for this ofcourse.
What do you guys think about this?

BitcoinNewsMagazine

legendary

Activity: 1806

Merit: 1164

One way would be to only accept bids from new accounts who had taken the trouble to pay for Copper membership. Not foolproof but does indicate the buyer is more serious. However if you are auctioning a collectible that should fetch a high price, have the new accounts prove they have the bitcoin to pay by signing that address and send the message in a PM before allowing them to bid.

shasan

copper member

Activity: 2380

Merit: 1302

Playbet.io - Crypto Casino and Sportsbook

To verify/validate newbie/unknown bidders in larger auctions you can take start auction price in advance to make his/her bid as valid bid. Many people usually mention that they can ask to send small amount from non reputed bidders.

teeGUMES

legendary

Activity: 1253

Merit: 1203

Reserved for rules if we come to a conclusion

teeGUMES

legendary

Activity: 1253

Merit: 1203

This has been going on for longer than any of us can remember, week long auction, end time is coming up fast and before you know it you're being outbid by someone that came out of nowhere with no recent activity.. is this person legitimate or are they a sock puppet bidding us up? Impossible to tell and it is hard to want to continue bidding against this person(real or not).

I've never seen a moderator active or do anything(unless behind the scenes) in this space (not a bad thing imo), I firmly believe that the Collectibles community runs itself in regards to Auctions and Sales and leaving good trust/bad trust for people that do not follow the standard that we run here. As a community we have run off some shady actors, but also lost ourselves a few good actors in the process unfortunately.

We need to come up with something that is non invasive, not costly, non profit making, but agreeable upon by bidders and auction hosters (whether single person or a corporation).

Topic: [Brainstorm] How do we verify/validate newbie/unknown bidders in larger auctions - page 2. (Read 530 times)