Topic: Get a BFL Single without the long wait! (Falling Price Auction - No Min) - page 3. (Read 6573 times)
May 26, 2012, 10:00:58 AM
Below 180 now. I am getting poorer by the second. When will this agony end?
May 25, 2012, 08:01:04 PM
Looks like it made the switch to -0.0003BTC/s without an issue.
May 25, 2012, 07:39:43 PM
Great idea 
May 25, 2012, 07:37:21 PM
So what happens if I say the B word that means I would like to stop the auction and claim the BFL for the amount at the current time, but for the current price, I say 1 BTC when it is actually in the 190s?
It is void. You must bid equal to the current price to be valid. That is why I have you confirm the price to avoid any confusion. Hopefully someone else will point that out if I am away.
May 25, 2012, 06:04:49 PM
Yeah once it switches to -0.003 BTC/s it is going to go from bad deal to fair deal to oh shit I can't believe I didn't bid deal in the span of a weekend.
Wait for the best price but don't wait too long. Happy bidding everyone.
I will be back around 00:00:00 UTC to make sure my modified code doesn't do anything stupid. In case the price clock says something awesome like BTC remember rule #4.
Wait for the best price but don't wait too long. Happy bidding everyone.
I will be back around 00:00:00 UTC to make sure my modified code doesn't do anything stupid. In case the price clock says something awesome like BTC remember rule #4. 
May 25, 2012, 06:03:53 PM
So what happens if I say the B word that means I would like to stop the auction and claim the BFL for the amount at the current time, but for the current price, I say 1 BTC when it is actually in the 190s?
May 25, 2012, 06:01:12 PM
This is pretty cool. A site like this would be fun. Let anyone post an item, starting price and velocity. I think high starting prices and relatively fast drops are best. Gives people time to see it but also has some intensity to it.
May 25, 2012, 05:37:31 PM
If BFL scams you or it gets lost in shipping, you refund the buyer full amount, right?
Dang, dinox has used the word 'BUY'! Congratulations to the lucky winner!Oops, he forgot to quote the current price.
Got away on a technicality!
Quote
...someone posts "BUY" in this thread with the current price.
May 25, 2012, 05:32:44 PM
I'm interested to see in how low this goes
Watching closely...
Watching closely...
May 25, 2012, 03:56:49 PM
Advance notice: I will be modifying the auction.
Since nobody has ever done one of these before I decided on price velocity of 0.001 BTC per second which is too slow. I didn't want it too fast but I think it is moving too slow. I am going to triple the price velocity to 0.003 BTC per second (~ 1 BTC per hour). That should be fast enough to result in meaningful price changes while still giving people adequate chance to jump in.
It will be a seamless change.
At 05/26/2012 00:00:00 UTC the price clock will be 191.36 (200 - 60*60*24*0.0001). I have a modified the counter to switch to a -0.0003 BTC/s velocity after 05/26/2012 00:00:00.
Official price can then be calculated from that point as:
Official Current Price = 191.36 BTC - (# of sec since 05/26/2012 00:00:00 UTC)*(0.0003)
Since nobody has ever done one of these before I decided on price velocity of 0.001 BTC per second which is too slow. I didn't want it too fast but I think it is moving too slow. I am going to triple the price velocity to 0.003 BTC per second (~ 1 BTC per hour). That should be fast enough to result in meaningful price changes while still giving people adequate chance to jump in.
It will be a seamless change.
At 05/26/2012 00:00:00 UTC the price clock will be 191.36 (200 - 60*60*24*0.0001). I have a modified the counter to switch to a -0.0003 BTC/s velocity after 05/26/2012 00:00:00.
Official price can then be calculated from that point as:
Official Current Price = 191.36 BTC - (# of sec since 05/26/2012 00:00:00 UTC)*(0.0003)
May 25, 2012, 03:47:13 PM
If BFL scams you or it gets lost in shipping, you refund the buyer full amount, right?
Yes and No.
If there is no shipment due to a scam I will refund the price.
If the product is lost, damaged, or stolen in the mail that is an issue between the winner and the shipper (no different than if the winner bought one directly).
May 25, 2012, 03:14:55 PM
If BFL scams you or it gets lost in shipping, you refund the buyer full amount, right?
Dang, dinox has used the word 'BUY'! Congratulations to the lucky winner!Oops, he forgot to quote the current price.
Got away on a technicality!
May 25, 2012, 03:04:19 PM
If BFL scams you or it gets lost in shipping, you refund the buyer full amount, right?
Right, so after hundreds of successful deliveries, they decide to scam the guy with the bet. Sure. May 25, 2012, 03:02:28 PM
If BFL scams you or it gets lost in shipping, you refund the buyer full amount, right?
May 25, 2012, 02:03:38 PM
The Fair Market Value of this auction is about 148 BTC. This will fluctuate, of course, with fluctuations in the BTC/USD exchange rate.
Justification:
Single with shipping: $633 (@$5.14/BTC is 123 BTC)
Value of 50 days saved: 25 BTC (difficulty 1591075, 800Mhps nominal: expected PPS earnings 25 BTC)
Total value: 123 + 25 = 148 BTC
Note that I've ignored electricity costs, which would be ~5-10% of the mining profit in the case of a Single. That's about 1-2 BTC which should be deducted.
Actually any Singles ordered today are likely to ship BEFORE 50 days if we extrapolate the shipping delays over the past few months. 40 days may be a more realistic expectation.
So IMHO a reasonable amount is 145 BTC. For amounts above that, any potential purchaser may be better off ordering from BFL directly.
Very interesting auction, D&T. I'm not interested in bidding on this myself, but I sincerely wish you the best of luck. I'm glad to see someone actually willing to sell their Single at a reasonable profit and not 2x or 3x its value as some others have attempted.
And congratulations on your winning bet with Inaba; it was fun watching it go down to the wire. I was expecting a clean win from you due to BFL's shipping delays, but it seems they've been taming their backlog quicker than expected.
Justification:
Single with shipping: $633 (@$5.14/BTC is 123 BTC)
Value of 50 days saved: 25 BTC (difficulty 1591075, 800Mhps nominal: expected PPS earnings 25 BTC)
Total value: 123 + 25 = 148 BTC
Note that I've ignored electricity costs, which would be ~5-10% of the mining profit in the case of a Single. That's about 1-2 BTC which should be deducted.
Actually any Singles ordered today are likely to ship BEFORE 50 days if we extrapolate the shipping delays over the past few months. 40 days may be a more realistic expectation.
So IMHO a reasonable amount is 145 BTC. For amounts above that, any potential purchaser may be better off ordering from BFL directly.
Very interesting auction, D&T. I'm not interested in bidding on this myself, but I sincerely wish you the best of luck. I'm glad to see someone actually willing to sell their Single at a reasonable profit and not 2x or 3x its value as some others have attempted.
And congratulations on your winning bet with Inaba; it was fun watching it go down to the wire. I was expecting a clean win from you due to BFL's shipping delays, but it seems they've been taming their backlog quicker than expected.
May 25, 2012, 07:28:19 AM
Removed reserve price. How low can it go?
May 24, 2012, 10:16:33 PM
May 24, 2012, 10:13:34 PM
May 24, 2012, 10:01:21 PM
For those wondering the price falls by 0.36 BTC per hour or 8.64 BTC per day.
Unless someone is very generous my net worth will be reduced by almost 4 BTC by the time I wake up.
Oh BTW can some one quote the original post as a record.
Unless someone is very generous my net worth will be reduced by almost 4 BTC by the time I wake up.
Oh BTW can some one quote the original post as a record.
May 24, 2012, 09:51:29 PM
interesting auction, good luck!
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