We are paying you $1 for each of your Steem!
Official ICO Live Auction Thread for VIVA Right Here on Steemit : Batch 1
This is the official thread for the VIVA ICO Live Auction, Batch 1.
VIVA is the price stable crypto currency with reliable income features, and was introduced to the world by @williambanks over the course of several postings.
Part 1 : Introduction to a Price Stable Crypto Currency With Basic Income
Part 2 : VIVA Components Explained
Part 3 : VIVA Components Explained - Part 2
Part 4 : Bootstrapping the VIVA Economy
In order to guarantee an income for all participants, the VIVA economy is structured around the interplay of several economic layers.
Three of these layers are crypto currencies that serve specific purposes within the ecosystem.
The fourth is a fiat gateway with debit Mastercard issuing capabilities.
We announced in Part 4 that the debit card issuing portion of the fiat gateway is now able to issue MasterCards. This means that today is the start of the live auction for VIVA Crowns, our fundamental base layer.
Each coin you buy today gives you a direct say in the day to day operations of the following currencies...
VIVA Crowns : A deflationary base currency, this currency grants the owner a Treasury Right, which is the right to determine how many VIVA will be minted. You need at least one Crown in order to mint at all. The number of VIVA you can mint is directly proportional to the number of Crowns under your control.
VIVA : Our flexible economic base layer is intended to remain relatively price stable by increasing or decreasing the supply in response to market conditions. On the VIVA network all transactions are settled in VIVA directly on the VIVA blockchain.
vX : Market pegged instruments with their peg backed by the network. The X can be whatever the issuing mint decides to peg it to. For example USD would be vUSD. vX pay a variable daily interest rate in order to encourage holding. vX are a business layer coin, meaning that most businesses and transactions will be priced in vX. vX serve to lock away VIVA liquidity from the market until the consumer requires it, thus helping VIVA to maintain weekly pricing and marketcap targets. vX also serves as a hedge during times of volatility.
Auction Details:
There will only ever be 42,000 VIVA Crowns.
The first 4,000 are to be distributed over the course of 4 rounds.
After ICO there will only be One Crown found per week!
Round 1 is a live auction, this is the start of that live auction.
There are 1,000 VIVA Crowns for sale this round and the sale occurs in daily batches.
Each batch is 10 less than the previous batch and it is winner take all.
Today's auction is for 100 VIVA Crowns!
Tomorrow's auction will be for 90 VIVA Crowns, etc.
This is a carry over auction, meaning that there is no advantage to waiting until the end to bid, because the next day's open is always the previous day's close.
The close of each batch occurs at post payout, the highest bidder takes all Crowns in a batch.
For this round we are making a special offer for all steemians.
All bidding occurs strictly in US Dollars however you can settle in any currency supported by #blocktrades and...
Whether you settle in steem or SBD, we will credit you $1 for each unit of steem based currency you settle in.
You can bid $1,000 USD and choose to only pay 1,000 steem!!!
Essentially it means we're giving you $1.00 USD per steem!
We are doing this because we're very long on steem and believe it has enormous potential for growth over the next 5 years, more so than any other coin we might consider holding.
It is also our price discovery mechanism for Crowns, since the Round 1 ceiling will be doubled to become the Round 2 floor.
This means that Crowns will never be any cheaper than they are right now!
All funds raised during round 1 will be used to power up the @vivacoin steemit account. These funds will remain powered up for at least 5 years. Upvotes from the @vivacoin steemit account will be used as a perk in order to help us attract and retain talent.
It is our sincere hope that others who want to integrate with the steem ecosystem will see our success with this model and decide to follow suit, which would undoubtedly help the price of steem a little and that would be a net benefit for everyone.
To bid just post a comment below along the lines of
"I bid $11,000 USD",
And remember you are bidding on the batch, not per coin.
Bidding starts at $1,000.00 USD for this batch, the winner is the highest bidder and it's winner take all!
Good Luck, and Happy Bidding!
This post is 100% steempowered!
update: If I haven't replied "thank you for bidding", within an hour of your bid, then you may not be the highest bidder at the moment of bidding. In order to see the bid history correctly, with the most current bids on top, use the "sort order" link just below this text and set it to "created", because the default sort order is" trending", which doesn't really work so well for an auction format. Thanks!
update 2: I've been at this for in excess of 14hrs, not counting the time it took to ready the post. I've asked @sykochica and @phoenixmaid to step in and handle bid acknowledgments for a few hours.
Happy Bidding!
Final update: This auction closed at $6,500.00!
Congratulations @cryptomancer!
As you can see here we powered up 100% of the auction proceeds!
In at the wire! I up my bid to $6500
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Congrats!
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Thanks! Ye gods, that was some quick last minute action. My heart was thumping like crazy.
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Wow, I step away for just a few minutes! Lol
Thank you for bidding @cryptomancer!
You are now the top bidder at $6500!
Looks like this was the top bid at the time of the 1st payout end. Congrats!
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Thanks! I will be awaiting settlement instructions and intend to pay in Steem. You can contact me privately via Steemit Chat if you prefer.
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Hi @cryptomancer as fas as I understood you pay to @vivacoin since that account will be powering up for the next 5 years and will be functioning as a whale to support vivacoin related articles and devs talking about it.
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I'll have to let @williambanks handle that one, but I'll send him a message in Steemit Chat letting him know you had the winning bid. :)
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Congrats mate. I thought I had it there. Need to upgrade my phone. Too slow in refreshing and had to deal with my two year old son. Would have loved to get a slice of the pie at the start? Any chance of going halves? Hehe.
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Awesome! This feels historic :-)
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Mine too, just a bit. I wasn't willing to go much higher, probably not higher than 6500 :)
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I was prepared to go to $7000, but that was my limit. Was literally just throwing out numbers there at the end and hoping it would be high enough, no time to really read the comments.
I won't bid on the next batch, though, so good luck if you want to go for that one!
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I knew it was going to get busy at the end. congrats @cryptomancer knew I should have set my alarm a little earlier.
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I technically did see yours as the last bid, but cryptos was higher. I'm happy I didn't have to make a tough call there if the the bids were equal, since both showed at the same 'minutes since' timestamp. :P
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Steemd.com shows his bid as being before the post payout so I have no complaints :) https://steemd.com/steemit/@vivacoin/how-to-get-usd1-for-each-of-your-steem
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Congrats on being the first holder of Crowns and their Treasury Rights! I wish you much enjoyment and success in this interesting project!
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Thanks for the well wishes. It certainly does look like an exciting project to be involved with! I had a great conversation with @williambanks last night and from that feel things are off to a good start.
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Haha congratulations
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wow, grats...
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$1011 bid from me...
EDIT
Up mine to $ 1550
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Thank you for your bid @gavvet you are the new top bidder at $1550
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I bid $1010.00 USD
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Thank you for your bid!
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Is there a danger in your auction system that there is high excitement in the initial auction rounds causing a high price, and then interest wanes and you are unable to sell in the subsequent rounds because of unrealistically high initial bids?
Looks at the chart for the launch of a few altcoins and random and see how many have high spikes in the trading charts that are not again reached for years if ever.
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Excellent questions!
This auction is a price discovery mechanism intended to set the price floor for round 2. Round 2 is private placement via sealed bids. While Crown Holders are always welcome to do whatever they believe is in their best economic interests. We will not be releasing any Crowns onto the open market. So the answer to that question is no.
You are correct that the vast majority of coins undergo a launch spike that pumps the price to the stratosphere and then the coin just keeps dropping forever from there.
That happens because those coins are generating enormous amounts of coin at an incredible pace. None of those coins have any mechanism to interact with the market and contract supplies. You can't just print unlimited amounts of money and expect to call it an investment.
Selling pressure on VIVA Crowns logically should be negligible for reasons I explained here.
Great questions! Thanks for asking!
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Thanks for the detailed reply, but I don't think it alleviates my concerns and I think you are speculating on it not happening. You effectively have a one-way ratchet mechanism on the batch prices. Hypothetically, say someone bids $12 billion on the first batch because they want the kudos of being first. The second batch would then cost more than all the bitcoin in existence. It's an extreme example to make my point, but what would vivacoin do if it happened?
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Yes that is correct, this is why auctions are a powerful tool for price discovery. That's how this works. We sell Crowns for the best price the market will support.
You don't even need to go that extreme. At some point, this auction reaches a peak price. Whether that happens at batch 1 or batch 100, the correct price for crowns is discovered and we get what we get. And at that point we stop round 1 and round 2 goes to private placement at 2x the price.
Excess Crowns from each round are destroyed, or well actually excess Crowns are left unminted. We aren't doing this because we need money. We're doing this so we have a price tag we can show investors from outside the crypto world and so we have something to seed the genesis block with.
I believe you may be confused as to the purpose of this auction. This auction is to give us a floor. We will NEVER sell below the floor. We aren't going to compete with Crown Holders in an open market. If Crown Holders want to sell their crowns during a future round, then they have right of first sale. This means they get the best price, so long as there is a price to be had.
Crown Holders can however, sell their own Crowns for any amount to any person they choose, at any time they want and for any reason.
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Great to see shared community value here! :)
Shared on twitter
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Disclaimer: I am just a bot trying to be helpful.
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This post has been linked to from another place on Steem.
Learn more about and upvote to support linkback bot v0.5. Flag this comment if you don't want the bot to continue posting linkbacks for your posts.
Built by @ontofractal
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Can't wait for auction of Batch 2 with 90 Crowns at 6501$ to start later @vivacoin !
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Soon as the domain is pointed for the website we will get that launched.
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$6150
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Exciting action there at the end. I guess the three of us were just sitting there with fingers at the ready, watching the minutes tick down. It mostly came down to blind luck. Good luck if you decide to go for the next batch, I'll content myself with this one and not bid on any of the others.
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questions from the 1st bidder ... :)
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Careful to not confuse rounds and batches.
Each round is comprised of several batches and we are currently in round 1 batch 1.
If today's batch closes at $5000 for 100 VIVA Crowns then round 1, batch 2 will have a minimum bid of $5,001 for 90 VIVA Crowns.
That's the point of price discovery. So if any batch during round 1 does not increase day over day then we will have discovered the price and that will be the end of round 1.
When round 1 ends, then round 2 begins. Round 2 is completely different. Round 2's floor price will be 2x the highest per coin price from round 1.
Round 2 will be private placement with sealed bids and will be offered outside steemit and outside the crypto community, hence the dollar pricing.
Any unsold round 2 coins will be removed and won't be entering circulation.
I should take this time to mention that we allow existing holders the right of first sale in each round. So if you buy now and decide to sell during round 2, your coins will sell before the coins reserved for round 2 do.
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thank you for this detailed and clear answer. much appreciated.
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You are very welcome!
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I bid $5000
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Thank you for bidding @wingz!
You are now the top bidder at $5000!
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I bid $2650I increase my bid to $2750I bid $6600
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Thank you for your bid @onceuponatime!
You are currently the top bidder at $2650!
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Thank you for bidding @onceuponatime !
Unfortunately in the time it took me to write this, you have been out bid by @wingz
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You were out bid on this batch, but batch 2 will start at $66 each, with your bid carrying the floor.
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Very innovative and intriguing...
I've got the steem, but I'm jut not there... yet...
(steem in my other account)
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I bid $1,000 USD
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Glad to be the first bidder! :)
edit note. I changed the amount from 100 to 1000 since the minimum is $1000. Oops!
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Thanks for being the first bidder!
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I was gonna bid until I saw this "Bidding starts at $1,000.00 USD for this batch"
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Remember the title of the post.
You're bidding on a single allotment of 100 coins.
You can settle in steem at a rate of $1USD per steem.
So what a $1,000 USD bid means is 1,000 steem at settlement for 100 VIVA Crowns.
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:) too many zeros... I thought about it and still decided to bid. Thank you for reminding me!
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Would it be more accessible if we changed it to per coin pricing instead of per batch? So far you're the only bidder, so to my mind it's your decision.
This is a brand new concept that no one has ever tried before. It's expected that there would be kinks.
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honestly I don't know. Maybe people can bid with unit price and quantity and the highest 100 bids win?
You can redesign it and re-do it. I don't mind withdraw my bid.
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@deanliu I'm replying over here because we hit the comment depth limit.
Go ahead and leave your bid on the table for this batch. Let's allow this to run it's course as designed. If there are issues we can just address it during the next round.
The confusion probably has more to do with the way I've worded things, than anything really wrong with the auction method itself.
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we have a second bidder! :) how come I am happy!?
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next round you can just use steem as unit as no one will use SBD to settle it. now we are bidding in USD but it is actually Steem. Might avoid some misunderstanding... IMO.
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ok, I bid $2050 :)
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Thank you for your bid @matrioshka you are the current high bidder at $2050
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I bid $2500
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Thank you for your bid @wingz !
You are presently the top bidder with a bid of $2500
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I bid $2800
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Thank you for bidding @wingz!
You are currently the top bidder at $2800!
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I'm a fan of @williambanks and 100% certain he is much smarter than I so I know this is probably the deal of a lifetime...but I've only got lint in my pockets. I'll be keeping an eye on this now. :) Good luck on the auction!
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Ahhh merej99 that's sweet! And thank you!
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I bid $2000
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Thank you for your bid @wingz unfortunately @matrioshka out bid you while I was typing this.
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I Bid $2051 ;)
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Thank you for your bid @gavvet you are the current top bidder at $2051
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I bid $5400
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Hi. This is an exciting new project and looks to be an excellent way to get in at the start of a new coin.
I'm a big fan of @williambanks ideas, and have read the introductory posts, but economics is definitely not my strong card, so some of it (particularly on the role of the 3 separate currency layers) has gone a bit over my head. So before I part with my $1,500 (or whatever) bid, please can you set out in very straightforward layman's terms exactly what the bid will be getting me? Ie I'll be buying 100 VIVA Crowns (if I win), and as the owner of these VIVA Crowns (as opposed to straightforward VIVA coin) exactly what will my obligations and expected benefits be?
BTW - Assume it's fine for us to vote multiple times if outbid?
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What the heck.. I'll toss my hat in the ring. Although really we're all bidding in Steem so I don't know why you're insisting its USD as nobody will choose to settle in that currency.
So I'll bid $1300
If I win I assume you'll provide details about how to pay up, how the winnings are distributed, etc?
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I for one welcome our Japanese overlords! :-D
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Hehe, my master plan is coming together nicely! ;-)
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Excellent question!
The reason for pegging steem to the dollar for these purposes and not other coins is that we have more faith in the 5 year prospects of steem than other existing coins and we're willing to bag hold on it for 5 years at current prices. So we're offering $1.00 per steem at settlement.
People are free to use any coin as long as blocktrades supports it. Which is pretty much any coin.
Keep in mind that steem might slingshot past $1.00 especially with all the other news in the pipeline.
Things like busy could be real game changers for the dynamics of steem and news like that just makes us more certain of our projections.
Hence pricing in dollars because a dollar is always worth a dollar., but steem might wiggle around a bit ;)
Thank you for your bid!
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Thanks for clarifying. I too am a long-term believer in Steem and so I'm buying as much as I can and powering up while the price remains low. I appreciate you giving us this great opportunity to get in on the ground floor of your project, which looks quite interesting!
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You're very welcome and thank you for participating!
I completely agree that we've barely scratched the surface.
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Yes I left that out of the auction details to keep the posting small and concise.
Settlement occurs by sending @vivacoin the auction proceeds. After which, you'll be sent a download link for the client. Once the client is running, you message back with your pubkey and we sign an encrypted message to you that the wallet will recognize and credit you the winnings.
In the case of this round of the auction, we are literally constructing the genesis block for Crowns out of the auction winners.
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up mine to $1301
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Thank you for bidding @gavvet you are the current high bidder at $1301
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I'll bid $1400.
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@tvuorma thank you for bidding, but in order to keep the sort order straight you should rebid as a top level post. @matrioshka is the current high bidder at $1500 though.
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The VIVA system is interesting; I've been reading the posts about it!
Question: When is payment due for the winning bid? I don't have 1000+ steem in my wallet here, or any wallet for that matter, but could I bid an amount and then buy that amount of steem if I should win, and then settle the bid?
If this has been answered elsewhere or if my question makes no sense, I apologize; it's been a Long Day! :-)
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Good question!
Settlement is due within 30 days of your auction batch closing.
However we would greatly appreciate settlement within 5 days of close.
Remember you're bidding dollars not steem, but we are crediting you with $1 for each steem you settle with.
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I bid $1012
ups... somebody bid $1300 already, ok, let him have it )
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Thank you for bidding, but @cryptomancer is currently the high bidder at $1300.
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This sounds pretty cool.
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Thank you! That's really very much appreciated!
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Will you translate it into russian ? )
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Which part? The whole thing? Maybe? Thats kind of big, so probaby it has to delay the auction, if that is needed?
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I wasn't 100% serious )
Of course it only makes sense if previous 4 posts are translated too, and that's a lot of work.
I don't know if russian community would be really so much interested .
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What is the deadline of the auction?
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In order to prevent bid sniping, when this posting pays out, the auction will be over. You can use the drop down next to the amount field to keep tabs on it.
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It seems like the current high bid is $1301 so I up that $1400.
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Correct! @tvuorma you are the new high bidder and thank you for bidding!
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Thank you ! Is the auction going to be running a full 24 hour circle ?
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Yes it will run until this post does it's payout thing. So it could be longer.
Right now the clock is showing 19 hours remaining, that could change if another whale or two stops by with an upvote.
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I up my bid to $2100
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Thank you for your bid @cryptomancer you are currently the top bidder at $2100 USD
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I up my bid to $1425
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Thank you for your bid @cryptomancer you are the new high bidder at $1425!
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Okay, I bid $2600! :)
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Thank you for your bid @spiz0r!
You are now the top bidder with a bid of $2600!
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I bid $3000
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Thank you for bidding @gavvet!
You are now the top bidder at $3000!
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I bid $2700
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Thank you for bidding @wingz!
Congratulations, you are now the top bidder at $2700
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I Bid $2701...
in the cause of blockchain bloat ;)
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Thank you for bidding @gavvet !
You are now the top bidder at $2701
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$6050
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I up my bid to $5250. Boo yeah!
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Thank you for bidding @cryptomancer!
You are now the top bidder at $5250!
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$6200
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congrats! the result is beyond my reach. Funny I was worrying for a while when I was the first bidder (not about not winning but about the bidding might not be successful).
hence the question: seems people with the highest reserved price wins, how can this process 'discover' price further?
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Well you saw the bid sniping at the end right?
This meant that people valued it more than they let on.
Consumers want the lowest price possible
Producers want the best price the market will support.
This meeting in the middle is price discovery.
What we have demonstrated is that there is more room in the price and this proves there is a market.
So far we've done single batch pricing, with all or nothing and winner take all.
This set a price floor for batch 2.
But it also priced numerous people out of the market.
For batch 2 we will allow people to bid on sublots and take the top highest per unit prices until the batch is sold.
For instance there are 90 available starting at $66 each.
If you want just one, then bid on just one and make it your best bid off the bat. So long as yours is the highest per unit, you will win too.
The only hitch is that for your bid to be accepted you must be $1 higher than the previous bid.
We'll get that started this evening.
I need to work on a few minor details first.
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Cool idea! This auction model is awesome. Do you think we could apply something like this for our BOOST POINTS? Please take a look at what are we doing and tell me what you think!
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It's a novel model so it might work! I say give it a try and see what shakes out. Anything to help the price of steem is a good thing for all.
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Omg I feel like I am waaaay behind in the bidding process. But I will bid 1000 steem on this if it is still available!!!
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In at the wire! I up my bid to $6000
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@williambanks @sykochina @phoenixmaid This batch is over isn't it? It states above "The close of each batch occurs at post payout" ... when is payout, where can I see that? @wingz is the highest bidder so far with 5000$ bid: I'm wondering if he closed it or if there is still time to go higher... :)
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There is still time. You can see how much time is left until post payout by clicking on the payout amount.
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You can see the time until payout by clicking the down arrow next to the payout total. Right now it shows 4 hours left. But that can get extended by certain vote activity
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One hour left unless someone gives it a bump.
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Are wings tokens also accepting steem for the purposes of powering up now?
Because they are completely unrelated to VIVA and I know you wouldn't spam an auction thread with your refurl if they weren't at least accepting steem.
I've sent them an email congratulating them on their decision.
Thanks for letting us know!
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