Re: [ETH] Ethereum 'dollar auction' contract - win ether, no pyramids!
Under 3 hours to go, and the top bid is just 20 finney! Someone's got to win the 5 ether, and at this rate it'll be a bargain.
Now with a basic DApp website, too: etherauction.github.io
Yup - I'm not trying to obscure what it is, though note that I put up a substantial stake myself, and 90% of the bids get rolled into a new auction. There's nothing to prevent people from acting rationally, and the 5 ether selling cheaply.
Now with a basic DApp website, too: etherauction.github.io
The dollar auction is a famous for leading to irrational behavior in the benefit of the auction creator.
My advise : don't bet
Check this for more details.
http://www.heretical.com/pound/dollar.html
My advise : don't bet
Check this for more details.
http://www.heretical.com/pound/dollar.html
Yup - I'm not trying to obscure what it is, though note that I put up a substantial stake myself, and 90% of the bids get rolled into a new auction. There's nothing to prevent people from acting rationally, and the 5 ether selling cheaply.