RE: VIVA ICO Live Auction : Round 1 Batch 2 : Bid Here!

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VIVA ICO Live Auction : Round 1 Batch 2 : Bid Here!

in vivacoin •  8 years ago 

So now a single VIVA Crown costs $500? That's big jump from $66 which prices so many out. Wow!

vivacoin
8 years ago by

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      ·  8 years ago 

    Well what it means is that particular bidder is willing to pay $500 per unit, this gives him first dibs.
    But the number of units is left unspecified.

    Remember this auction isn't all or nothing. It's intentionally blind this way.
    At close we will settle with each of the highest bidders until the batch is gone, so just bid what you can afford.

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        ·  8 years ago 

      OK, so if this bidder wants only one VIVA Crown, he pays $500, but if he wants 10, he pays $5000. If he does not purchase all 90, the next bidder may pay only $100 per VIVA Crown, if they are the next highest bidder. Additionally, if some are remaining, the next bidder may still pay only $66. (Of course, this is assuming these are the only bidders - for simplicity). I understand. I really like he way this is being offered.

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          ·  8 years ago 

        Yes and I'm about to update the rules here to specify that you can do fill in bids, so long as your bid is at least $1 higher than your previous bid. The point of this is to find the correct price the market will support.

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            ·  8 years ago 

          Well, yes, my idea was just to specify later that I only want 1 unit at that price and see, what happens )

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            [-]
              ·  8 years ago 

            Thanks, we were all curious when the price jumped like that!

            I like the price blinding and fill in method. It takes away any advantage to waiting to bid. It eliminates bid sniping and lets everyone just say what they feel is the best price for them.

            Price jumps like that are also nice because it shows people that this coin does in fact have far more value than they may be considering at the moment and so to look at this as a long term investment and not speculation.

            Thank you for bidding, you are still the top bidder at $500!

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