Please give a full 24 hours before unlocking the IPO to allow time to transfer BTC into the exchange. if orders do indeed fill 'auction style' from the highest bidder down, allowing time for everyone to place their bids competitively will help the company raise more funds and give everyone a chance to buy shares.
Go to:
https://bitcointalk.org/index.php?topic=263445.0;allIt seems like it has already started!!!
It has not that is just people putting in bid orders the ask side is still empty
The asset just was officially approved
Will be on a first in first served basis or auction style?
IMHO it should be FIFS!
Outdated refer below that
Burnside said
Highest to Lowest
Then
First in First Serve
Since IPO is 0.001000 and its nearly filled to the 7000 bitcoin goal it is highly likely that not all orders will be filled at that price so earliest bids will be taken from those at the lowest price.
0.001001 is probably the safest bet before people start moving to it as bids above IPO are only 2558 BTC of the current changing bitcoin total which is 6759 BTC at the IPO price and then dust below itQuick question is this still up to date
http://www.labcoin.com/presentation.htmlEDIT Well that was fast when I Was napping a lot of things changed XD
UPDATE FINAL:
(Ethan Burnside) Hi all, I'm posting this somewhat blind. (haven't caught up with the last 10 or so pages...)
TheSwede75 and I have talked a bit and here's what we've come up with:
- 3 PM CST/4 PM EST is the cutoff for bidding. (EDITED!)
- Sometime shortly after that time I will lock the asset.
- All bids below 0.001 will be thrown out.
- All bids posted after the cutoff will be thrown out.
- We will then add up all the bids and use the total to create a ratio of number of shares ordered to number of shares available. (eg, 9,000,000 ordered, 7,000,000 available gives us a ratio of 0.777)
- We will multiply everyone's orders times the ratio and extract a whole number of shares on a per order basis. The orders will then be filled according to the result at 0.001 BTC. (regardless of what they actually bid.)
- This will leave some number of shares available due to rounding down to a whole number on every calculation. We'll figure out a way to deal with these fairly. Most likely recipients will be chosen at random from the pool of bidders but they will be a very small portion of the overall issue.
- 8 PM CST/9 PM EST we remove the admin lock and everyone can start trading.
Wednesdays are already full days for me with ASICMINER-PT related duties and my day job. So please be patient today. Responses to customer service and related requests will unfortunately be delayed significantly so that I can write and test all the code necessary to execute the plan above.
sounds sane
Cheers.