If there are 120 stakes to auction, what about offering 1/10th stakes?
1200 auction blocks of 100,000 NEM with a 1 btc reserve. If it works we will raise >1,200 BTC.
Under the right conditions, it can happen. MaidSafe raised $6 million in just five hours.
Good idea.
+1.. but that sets a stake at 10 btc.. :/ seriously?
If well advertised, I can definitely see it. Many will be from outside the alt coin scene. The auction would need happen outside of the Bitcoin Forum, and on our own website.
There are those who are on the lookout to invest in the next big thing, and if this is it, $5,000 is chump change. Owning one million NEM would be a good opportunity.
At the moment this auction is the only way to acquire it and with only 1,200 openings it will be perceived as rare. +1btc for one of 1,200 spots is relatively "cheap".