Oh and to the guy who said that pay to bid auctions are a scam. So the Xbox360 with Kinect I got for under $20 usd is a figment of my imagination? I bet that $3 lightsaber also dosent exist. Pay to bid auctions are a good thing, if you are into them. Your logic equates to that of someone crying over a lost bet at a casino. You have no promise of any return and the rules are laid out pain and simple. A regular auction works the same way, but the price gets inflated by bids that people have no intention of honoring and a relived when they get overtaken. If your worried about this sort of thing, then maybe Bitcoin isnt for you.
Fact of the matter, Reikoku is a pillar of this community. His mining contracts and other public dealings have been a part of this forum for as long as I can recall. I have not once heard of any negitive feedback, or any reason to doubt his intentions. Anyone who stumbles across this topic should know that about Reikoku and not let this form negitive opponion about him.
Good luck to you.
Thanks for the support Shakaru, yeah I won an iPhone 4 for 4 euros and a 0.35 final bid so I'm not against these at all either. It's a bit of a gamble, but ultimately as long as the seller is clear at the outset, and the buyers understand how it works, I don't think it's a bad thing.
Ultimately the community has spoken, and I can understand their fears. Reputation alone doesn't prove anything, just look at FoodStamp. I think the only way to make this work would be through a signup-based site and on faster timers, and that would require far more users to know about it and be interested in it than currently are.