Topic: [ETH] Ethereum 'dollar auction' - win Ether, no pyramids or ponzi! (Read 520 times)
The current auction, for 0.34 ether, ends in about an hour, so far with no bids. It's not a lot, granted, but it's cheap - 1 finney or even less would take it home at this point.
April 03, 2016, 10:17:53 AM
Gj to you for winning the first auction 
Why would I need to do that, when I got a sweet 26 finney reward for putting up the initial stake?
I admit, the bidding wasn't nearly as enthusiastic as anticipated.
April 03, 2016, 10:06:41 AM
Gj to you for winning the first auction
April 03, 2016, 10:05:45 AM
First auction finished - the top bidder got 5 ether for a mere 0.15 ether!
A second auction has automatically started with 90% of the proceeds, for a rather less dramatic 0.34 ether, ending this time tomorrow.
A second auction has automatically started with 90% of the proceeds, for a rather less dramatic 0.34 ether, ending this time tomorrow.
April 03, 2016, 09:21:34 AM
30 minutes to go, and the top bid is only 0.05 ether - 50 finney!
April 03, 2016, 07:21:28 AM
Under 3 hours to go, and the top bid is just 20 finney! Someone's got to win the 5 ether, and at this rate it'll be a bargain.
Now with a basic DApp website, too: etherauction.github.io
Yup - I'm not trying to obscure what it is, though note that I put up a substantial stake myself, and 90% of the bids get rolled into a new auction. There's nothing to prevent people from acting rationally, and the 5 ether selling cheaply.
Now with a basic DApp website, too: etherauction.github.io
The dollar auction is a famous for leading to irrational behavior in the benefit of the auction creator.
My advise : don't bet
Check this for more details.
http://www.heretical.com/pound/dollar.html
My advise : don't bet
Check this for more details.
http://www.heretical.com/pound/dollar.html
Yup - I'm not trying to obscure what it is, though note that I put up a substantial stake myself, and 90% of the bids get rolled into a new auction. There's nothing to prevent people from acting rationally, and the 5 ether selling cheaply.
April 03, 2016, 03:41:54 AM
The dollar auction is a famous for leading to irrational behavior in the benefit of the auction creator.
My advise : don't bet
Check this for more details.
http://www.heretical.com/pound/dollar.html
My advise : don't bet
Check this for more details.
http://www.heretical.com/pound/dollar.html
April 02, 2016, 05:57:28 PM
Top bid so far on this auction for 5 ether is just 1 finney!
April 02, 2016, 10:00:12 AM
This is an Ethereum implementation of the 'Dollar auction'. Players bid for a prize in Ether, with the top bidder taking home the full amount. The catch: both the top and second bidders have to pay. Don't be the second bidder!
The first auction is for 5 ether.
Auctions run for 24 hours, after which the winner gets paid out, and the top two bids are rolled over to start a new auction, less a 10% fee paid out to the seller who put up the initial stake. Payout is triggered by the first bid in a new auction, or by anyone calling endAuction.
To play, send your bid to 0x6fd93c524553e05b3a1ac9291bde505d37252dfd.
The full source of the contract, and the current state including top bidders and bid amounts can be seen here. Or, you can add the contract to your wallet by importing the interface:
As of posting, there are no bids, meaning you can take home a cool 5 ether for a bid of just a few finney.
The first auction is for 5 ether.
Auctions run for 24 hours, after which the winner gets paid out, and the top two bids are rolled over to start a new auction, less a 10% fee paid out to the seller who put up the initial stake. Payout is triggered by the first bid in a new auction, or by anyone calling endAuction.
To play, send your bid to 0x6fd93c524553e05b3a1ac9291bde505d37252dfd.
The full source of the contract, and the current state including top bidders and bid amounts can be seen here. Or, you can add the contract to your wallet by importing the interface:
Code:
[{
"constant": true,
"inputs": [],
"name": "seller",
"outputs": [{
"name": "",
"type": "address"
}],
"type": "function"
}, {
"constant": true,
"inputs": [],
"name": "auctionValue",
"outputs": [{
"name": "",
"type": "uint256"
}],
"type": "function"
}, {
"constant": false,
"inputs": [],
"name": "bid",
"outputs": [],
"type": "function"
}, {
"constant": true,
"inputs": [],
"name": "highBidder",
"outputs": [{
"name": "",
"type": "address"
}],
"type": "function"
}, {
"constant": false,
"inputs": [],
"name": "acceptTransfer",
"outputs": [],
"type": "function"
}, {
"constant": true,
"inputs": [],
"name": "secondBidder",
"outputs": [{
"name": "",
"type": "address"
}],
"type": "function"
}, {
"constant": true,
"inputs": [],
"name": "expiresAt",
"outputs": [{
"name": "",
"type": "uint256"
}],
"type": "function"
}, {
"constant": true,
"inputs": [],
"name": "secondBid",
"outputs": [{
"name": "",
"type": "uint256"
}],
"type": "function"
}, {
"constant": true,
"inputs": [],
"name": "highBid",
"outputs": [{
"name": "",
"type": "uint256"
}],
"type": "function"
}, {
"constant": false,
"inputs": [],
"name": "lastAuction",
"outputs": [],
"type": "function"
}, {
"constant": false,
"inputs": [{
"name": "recipient",
"type": "address"
}],
"name": "transferOwnership",
"outputs": [],
"type": "function"
}, {
"constant": false,
"inputs": [],
"name": "endAuction",
"outputs": [],
"type": "function"
}, {
"inputs": [{
"name": "_duration",
"type": "uint256"
}],
"type": "constructor"
}]As of posting, there are no bids, meaning you can take home a cool 5 ether for a bid of just a few finney.
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