I've had to issue 3 refunds today, but it's all just helping shell out a much better and efficient product. Thanks for taking the journey with us!
How can I send you coins that are already confirmed? You should assume that the new person owns the coin with 0 confirmations, but not pay the old owner until the confirms come in. Then just roll back if the confirms fail.
Hey,
Say for instance you receive coins from satoshi dice or something but they are not yet confirmed but are available to spend. If you send those coins to an address they won't confirm until the satoshi dice payout confirms in your wallet. So there is an extended delay on confirmation relaying to the site. Instead of the usual 10 minutes for confirmation it can take anywhere to as much as 20! As for why I don't pay the old owner, it's because the system is fully automated. Also, let's consider scenarios like steals and releases. Without the 1st confirmation to make sure the payment is legit there is a lot of room for errors and mix-ups down the road. It's overall a lot more easier for the other players, the site, and myself if the new person takes possession after confirmation.
I hope my explanation was clear, and if you have any more question feel free to inquire.
BTW, congratulations to the new owner High Overlord Sothhus.
Oh, sorry, did not realize that payment had not been confirmed. (My coinbase wallet did not make that clear.)
What about the option to pay more than the next bid? For example, current bid is at .214. What if you allow someone to buy it for any price they want, as long as its over that?
That way, if I want to keep my name on the board longer, I can bid like .5 btc. The previous owner gets a lot more profit, and I don't have to keep rebuying to keep my name up.
Great idea! I'm gonna start coding this right now... sort of like a max bid? So you would send X amount to cover the automatic buy back of The Final Satoshi until it reached price XX. I'll try to have this option available ASAP.