Bitcoin Institute

Bitcoin Auction: 10,000.00 BTC --- Starting Bid 50.00 USD

5 messages BitcoinTalk SmokeTooMuch, dwdollar, NewLibertyStandard March 30, 2010 — February 24, 2012
SmokeTooMuch March 30, 2010 00:18 UTC

OLD THREAD IS OLD!

Hi,

I want to make a little experiment here:

I want to auction 10,000 BTC off, starting bid is 50 USD. (10k BTC are currently worth ~65.50 USD)

The auction will run for seven days. It will finish @ 6th April 3.00am German Time (usually UTC +1h, +2h at the moment). (for the correct time look here: http://www.weltzeituhr.com/laender/039_e.shtml

To make a bid you have to post in this thread here and say how much you bid. Only condition: every bid has to be at least 1 USD higher than the previous one.

After the auction is over, I will pm the highest bidder and will send him 5000 BTC, then I will wait until the bidder has transfered his money to my paypal account and will then send the other 5000 BTC. This is necessary to protect me from false/joke bidders.

Enough said,

Good luck 😁

dwdollar March 30, 2010 12:41 UTC

I know this is well below your starting bid, but since no one has taken it yet I’ll offer $20.

NewLibertyStandard April 3, 2010 00:16 UTC

$50 is somewhat of a high starting bid considering there is over ฿22,000 available (http://newlibertystandard.wetpaint.com/page/Exchange+Rate) for not much more per bitcoin than your starting bid. Not to mention that realistically there’s probably a lot more than ฿22,000 available because if somebody bought a bunch of those bitcoins, I’m sure some people would step forward to sell more bitcoins. Anyway, I’ll bite for sake of the experiment. I bid $25. How about you change the minimum bid to $30 and tell us a maximum time between bids. Perhaps three days?

SmokeTooMuch April 7, 2010 15:47 UTC

Auction is over. Since nobody has made the starting bid, the bitcoins do not change their owner.

SmokeTooMuch February 24, 2012 13:55 UTC

This were the old days 😉

Actually nobody was interested in this auction back then. 10k BTC would be quite a lot money today 😛