You are viewing a single comment's thread from:
RE: VIVA ICO Live Auction : Round 1 Batch 2 : Bid Here!
Thank you for your bid @svamiva
Your bid of $500 makes you the current top bidder.
Thank you for your bid @svamiva
Your bid of $500 makes you the current top bidder.
Q1. does this bid mean the starting price for batch 3 is at least $500? if so, wow!
Q2. what if the bidder cannot keep this promise afterwards? (this is a question in general, not referring to svamiva in particular!)
Q3. the number of units - does it need to be integral?
Thanks!
Yes that's exactly what that means.
Then I'm going to be sad and my feelings will be hurt. There isn't a mechanism here to force settlement. We just assume honorable intent.
At settlement you can specify number of units. VIVA Crowns are all integrals because they are a specific right within the system. So the number needs to be an integer, that integer can be as low as 1. No reason you can't get a group together and subdivide an interest, but that's a personal business dealing.
Excellent questions and thanks for bidding!
So now a single VIVA Crown costs $500? That's big jump from $66 which prices so many out. Wow!
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.
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.
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.
Well, yes, my idea was just to specify later that I only want 1 unit at that price and see, what happens )
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!