Let’s Play a (Bitcoin) Game

I had this Denarium physical bitcoin kicking around, so decided to do something a bit fun with it!

Brass Physical Denarium Bitcoin (front)

I will send this coin (unopened) and all BTC it contains to the winner of a ‘reverse auction’ for it.  A reverse auction is where the lowest unique bid wins.  This one is a little unique in that the cost to bid is the bid itself.  I.e. the more bids received, the higher the BTC balance you could win.  So it is really a reverse auction sweepstake!

HOW TO PLAY …

To bid, send the amount directly to the coin (click to enlarge):

Reverse Auction Address

Once sent, please send the transaction ID to me on Twitter:  alistairmilne

IMPORTANT:  All decimal places after the 3rd will be IGNORED.  Therefore 0.001 BTC is the lowest possible bid.  0.0011 still counts as a bid for 0.001, as does 0.0019 (no rounding, excess digits are thrown away)

If there is a dispute over who sent a bid, you will be requested to prove ownership (e.g. by moving the change or by proving you control the address the BTC came from)

The auction will end at 8pm, 4th November 2016 (CEST).  Your bid must be in the mempool of blockchain.info before this time to be counted.  We will wait for 3 confirmations before announcing the winner.

Click for countdown timer – Auction ended!

Click for blockchain.info data

NOTES:

  • If someone bids the same amount as you, your bid is no longer unique and therefore disqualified.  You may bid as many times as you want (e.g. to kill bids lower than your own)
  • I will ship the coin at my own expense, the whole balance will remain on the Denarium coin
  • No bid refunds!
  • Blockchain.info’s mempool will arbitrate the order bids are made & the cut off time
Advertisements

2 Responses to “Let’s Play a (Bitcoin) Game”

  1. OK. So looking at the blockchain.info transactions for this address:

    There are two transactions for 0.001 (confirmed)
    two transactions for 0.002 (confirmed)
    one for 0.004 (unconfirmed)
    and one for 0.007 (confirmed)

    Would i be correct to say that currently .007 is winning? but if .004 gets confirmed they would win? .001 and .002 are negated because they have been matched?

    • Hi Kelvin, yes you were right … but now 0.004 has been confirmed so that’s currently winning.
      Whoever bid that amount didn’t identify themselves yet – please everyone, remember to contact me with your transaction ID!

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: