Quote from: thiveshak on April 19, 2014, 12:22:48 PM

Quote from: utopianfuture on April 19, 2014, 02:52:52 AM

Quote from: Jaguar0625 on April 19, 2014, 12:36:14 AM

Quote from: Simakki on April 18, 2014, 04:46:51 PM

Auction sounds like good opportunity test the valuation, though it might be could make it in sequels as UP has said. Are there any similar scenarios ever done before? How you can prevent people just bid without intention to buy ? Like some ahole just messin with auction

One way would be to set up an escrow. So people who bid would send their bid to an escrow. If they win, they get the NEM. If they, don't their money (minus a tx fee) would be returned.

It is a good idea. The way it could be done is that the escrow set up the address at a designated time and everyone sends a payment to that address would be considered a bid. The auction would last 24 hours since the designated time. 10 highest bis win 10 stakes and the rest will be returning to the senders. Who want to be the escrow ? I could pay a small payment for the service.

Sorry I have not yet finished the governance piece since I am in the middle of Smiley. Hopefully finish tomorrow. Anyway any preference for the first lot, charity at launch or logo+branding package ?

That would discourage a lot of people who wants to bid. Say, if a person bids @1 btc and sends 1 btc to escrow. Now if he want to increase his bid to 1.1, then has to send another 1.1 btc and then 1.2 btc.

Instead a reserve amount shall be sent to escrow and participate in the auction. If he is in top 10 and doesn't buy the stake, then his reserve will be forefeited.

I think auctioning is not a good thing:
Why not selling the stakes "considered for auction" at a fixed, moderate rate? So one could directly buy from devs. People in the waiting list who didnt get selected for stakes could be privillaged with a special offer as well. This would make distribution more fair IMO.

What we also dont want is big whales coming who soak up the market and just wait for profit without contributing to the development.