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AUCTION VENDING MACHINES ARE NOW OPERATIONAL

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• bcohen

  

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  @Deweller

  I'm confused about the auction time(s) Is the page reading my location? I thought they were due to close 8 PM PST. I Live in EST. I am surprised to see that all the auctions are closed. :(

  perhaps @rob idea for countdown would avoid confusion in this regards.

  Posted on August 21, 2014 at 6:20 PM
  Last Edited: August 21, 2014 at 6:21 PM
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• deweller

  

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  The time should be displayed in your current time zone. They closed at 8.21.2014 5:00 PM PDT (-07:00). It should show 8.21.2014 8:00 PM (-04:00) if you are in EDT.

  I live in Central Time, so I see 8.21.2014 7:00 PM -05:00.

  I agree a countdown would be great.

  I've started a list of feature requests here:

  https://github.com/deweller/auction-machine/issues

  Posted on August 22, 2014 at 4:53 AM
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• bcohen

  

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  @deweller "The time should be displayed in your current time zone" Well that just makes too much sense :) https://www.youtube.com/watch?v=cnaeIAEp2pU

  Posted on August 22, 2014 at 7:28 AM
  Last Edited: August 22, 2014 at 7:28 AM
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• deweller

  

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  That's good feedback that the -04:00 is not real clear that it is a timezone, though. So thanks.

  Posted on August 22, 2014 at 7:38 AM
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• bcohen

  

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  @deweller

  Would it be possible (and is it a good idea?) to allow last minute bids to go through (in the "authenticating" state) that have not been confirmed? That is, Bids are acceptable as long as they propagate the network even if they have not been confirmed?

  Like so:

  The auction "closes" twice.

  • 1st close: Last bid: Closed to new bidders
  • 2nd close: Valid Bid Found and Outcome Decided: Last confirmed valid bid decided 1 hour 30 minutes after 1st close.

  Its possible that an additional valid bid could be found after 1:30 but using this as an internal cutoff helps remove uncertainty from the auction.

  Posted on August 22, 2014 at 9:17 AM
  Last Edited: August 22, 2014 at 9:18 AM
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• Rob

  

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  @bcohen Its possible that an additional valid bid could be found after 1:30 but using this as an internal cutoff helps remove uncertainty from the auction.

  Sorry you missed the bidding, a countdown timer will definitely remove the uncertainty regarding the time zone factor (I too felt unsure for some reason).

  While randomness of block confirm times definitely adds a twist to bidding, no bidders are advantaged by it, as all share in the risk of later bids not counting. Maybe it makes bidders lay their cards on the table sooner? Maybe it encourages speculative Hail Mary bids that may or may not make it into a block before the auction end time? It's definitely different than the straight-forward eBay-style bidding you were championing for, but I see this particular quirk as more of a fun twist to standard bidding, than an issues that needs solving. For me, the quirks kind of add to the richness of this experiment we're all participating in.

  Posted on August 22, 2014 at 2:47 PM
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• deweller

  

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  That's right! It's not a bug, it's a feature. :)

  Posted on August 22, 2014 at 2:50 PM
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• bcohen

  

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  @rob

  For me, the quirks kind of add to the richness of this experiment we're all participating in.

  Yea its definitely interesting ....and perhaps even more fun this way.

  But what auction mechanism will bring more value to LTB? (I don't claim to know)

  Posted on August 22, 2014 at 2:51 PM
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• noel57

  

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  This is + 1 for LTBC

  Posted on August 23, 2014 at 10:24 AM
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• SovBTC

  

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  Is there currently an auction for Levine's consulting?

  Posted on August 29, 2014 at 12:12 PM
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