Tagged With "auction"

Topic

How will the Niche auction work?

mrgoodsett ·
Will it be like an Ebay auction? Will the minimum bid for all Niches be $75? How long after suggesting a Niche will that Niche be ready to bid on? Will there be one large pool of Niches to start or will Niches constantly be rolled out? What will be the time limits for the auctions, 1 day, 2 days, etc?
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Re: How will the Niche auction work?

Ted ·
I believe most of your questions are answered here: https://blog.narrative.network...chaucer-da7273a57748
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Re: How will the Niche auction work?

Harj ·
I do like your suggestion Malka, and I think for me that would work alot better. as I have ideas for Niches but not much in a financial sense. but I guess I can see why it is the way it is and we have to roll with it and try our best to get the best deal we can and yes getting nothing is part of that or some other outcome but it is just start for all and very fair from a starting point. Put in your suggestion and then everyone bid. founders first then all after that.
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Re: How will the Niche auction work?

mrgoodsett ·
The only concern I have is will folks propose their best niche ideas up front? It will be a hard pill to swallow if a person has his heart set on a certain niche only to be outbid by someone else.
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Re: How will the Niche auction work?

Malkazoid ·
The niche auctioning system you have chosen for Chaucer alpha is starting to grow on me....
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Re: How will the Niche auction work?

Malkazoid ·
I hear you MrGoodsett - I still don't like that at all. Reading up on the rest of the initial auctioning system - I now realise a lot of it is well designed though: whereas before, my sense of this injustice was blinding me to the system as a whole. Thinking back to my suggestion of letting folks submit their niches privately, and only the niches that have several members proposing them go to auction - I now can see I failed to incorporate some important details to make it feasible. The way...
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Re: How will the Niche auction work?

Malkazoid ·
There is another advantage to my proposal. When folks put forth privately their 5 top niches - it allows them to focus more genuinely on what is suitable for them. They've been through a thought process and selected 5 niches after contemplating what is the most compatible with them, as well as what might bring in revenue. With the current system of everyone bidding on everyone else's proposed niches, you will have a degree of distraction from that initial inner direction. You'll get people...
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Re: How will the Niche auction work?

Malkazoid ·
I'm very curious what makes you see why it is the way it is? If I'm missing something, I'd genuinely enjoy some help finding out what it is! I'd love nothing more than to be able to proceed with the knowledge that we're getting off on the right foot. After all, it's a long road to what Narrative will eventually become... if we don't take care to start out right, where will we end up after all the opportunities for wrong turns along the way? BTW - I'm not proposing founders should not get...
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Re: How will the Niche auction work?

Malkazoid ·
Erm... it is not a just and equal opportunity at all. What I am proposing would be. What is just and equal about serving up all the best ideas, and then allowing the richest members to grab them? Precisely nothing. Do you think we would have creative industries if intellectual property worked that way? If you wrote a screenplay or a novel, you then had to put it in a pool for the wealthy folks of the world to bid against you for ownership of it? I'm hoping you understand just how profoundly...
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Re: How will the Niche auction work?

mrgoodsett ·
@Malkazoid You make a lot of great points. I was afraid that I was among few who were hesitant about putting forward the best or most creative niche ideas. As an investor but not having the finances to become a founder, I believed the best alternative to contributing to the Narrative success was to become an owner of a really great niche and thus help to build the platform (as small as my contribution may be). Right now I am conflicted, do I just sit back and wait for an ROI or do I plunge...
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Re: How will the Niche auction work?

Harj ·
I see your point Mal but the quesiton is... is it just and a equal opportuntity at the start ? and I feel it is! I have a chance to be a founder and still do but I choose not too due to funds. but everybody started at the same point and if the rules are set the same for all thats fair. make a suggestion and then all bid. What is not to like about that Mal ?
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Re: How will the Niche auction work?

Malkazoid ·
Well I know what I want - I want you and everyone else to be able to move forwards feeling they have a real shot at staking a claim that they will be able to work at with passion. I don't want anyone to feel conflicted or discouraged because of an early procedure that feels like it undermines the reasons we were passionate about this journey in the first place. I really hope you move forwards as an active participant. The richest among us are not necessarily those who have the most to offer...
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Re: How will the Niche auction work?

Malkazoid ·
That’s a cool niche idea - a meta-niche! I think it would be fun to operate and really successful. Out of respect your creation, I will not bid on it.
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Re: How will the Niche auction work?

Harj ·
Great idea Mr Good I hope you get that one bro. Mal I enjoy reading your post good points. Let's see how it all develops good to see how it works and who gets what. I hope you get what you want, I think you will as a founder.
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Re: How will the Niche auction work?

Malkazoid ·
I'm hoping for some interaction from the Team about this. Founders get access to the dev team so I'm going to link them to this thread, but the discussion may end up happening in a Founders only area. If so, I'll let you know how it goes.
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Re: How will the Niche auction work?

Harj ·
Thanks Mal I appreciate the heads up on this. I think it's a difficult decision to make buying a niche especially when your not familiar with the new process.
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Re: How will the Niche auction work?

Malkazoid ·
Hey - @Brian Lenz from the dev team was kind enough to put up with my passionate defence of a fairer way for initial niche proposing. The exchange was in a Founder thread, but I've written some musings about it here: https://community.narrative.ne...-your-niche-strategy Onwards!
Topic

Bidding system vulnerable to sniping

Malkazoid ·
Hello Narrative Team Ebay long ago implemented the ability for people to enter a maximum bid. This has the immense value of allowing people to not lose an auction due to someone bidding $1 higher in the last seconds of the auction. In such an event, if the currently winning bidder had entered a maximum bid higher than the bidding price, the only way to snipe the auction away from her would be to enter a last minute bid higher than her secret maximum. Is there a way for you to implement this...
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Re: Bidding system vulnerable to sniping

Brian Lenz ·
Ah, it could be that we could make that more clear. Yep, you enter your max bid. As long as you are the top bidder, you are free to adjust your max bid, as well, so long as it stays greater than or equal to the current real bid. So you can increase your max bid if you’re willing to go higher if necessary, or you can lower your max bid if it’s higher than you’d be willing to commit to. Hope that helps!
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Re: Bidding system vulnerable to sniping

Malkazoid ·
Fantastic - and thanks for the rapid response! I missed it because the system asks you to enter a bid, not a maximum bid. So if I enter another higher bid, my current bid will remain the same, but my maximum will increase? Thanks!
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Re: Bidding system vulnerable to sniping

Brian Lenz ·
Hi Malcolm, Thats already how the auctions work What’s giving you the opposite impression? Chaucer utilizes a max bid model just like eBay’s...
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Re: Bidding system vulnerable to sniping

Malkazoid ·
It does - thanks! I was kicking myself for not having suggested the feature beforehand: I'm glad you're way ahead of me!
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Re: Bidding system vulnerable to sniping

Gerbino ·
very good to know! Yes definitely worth updating before Chaucer opens up to the wider audience.
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Re: Bidding system vulnerable to sniping

Henderson ·
As we are bidding on niches, what is the value for each NRVE token? Is it the price we paid for them (which may vary depending on when each person purchased)? I apologize if that has already been addressed. I have been trying to read every post in all of the topics but it is possible that I may have missed this answer. Thank you in advance. @Rosemary @Ted
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Re: Bidding system vulnerable to sniping

Rosemary ·
Starting bid is the equivalent of $75 but in NRVE. Since we're not on exchanges yet, we're keeping it pegged at the 1 NEO = 300 NRVE rate. When you're bidding, it will show you that rate on the page, so you don't have to do advanced math yourself on the fly.
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Re: Bidding system vulnerable to sniping

Brian Lenz ·
For anyone curious to read more, the NRVE calculations are explained in the Terms of Service: https://assets.narrative.netwo...rative-alpha-tos.php Specifically: The NEO/USD rate is currently updated once per day at midnight UTC. Hope that helps!
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Re: Bidding system vulnerable to sniping

carlos ·
Quiero saver cul es el precio de narrative
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Re: Bidding system vulnerable to sniping

Hickster747 ·
Just to be clear on the bidding. If a niche is currently at 500 and I input a bid for 600, I will go in as max bidder at 501 and automatically come back at 551 if there is then a counterbid of 550 etc., up to a max of 600? So the only way my bid would go to the full 600 would be if somone has a max of 599 for example? Hope that makes sense..
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Re: Bidding system vulnerable to sniping

Brian Lenz ·
@Hickster747 , yes exactly! Keep in mind that you will only become the max bidder at 501 if the current max bidder has a max bid of 500. You don't have a way to know their max bid until after you've tried to outbid them. This privacy is what prevents the sniping issue original raised (which is not an issue).
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Re: Bidding system vulnerable to sniping

Hickster747 ·
Alot of the countdown timers seem to show the time remaining as a time that's more than 48 hours after the start/first bid time?
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Re: Bidding system vulnerable to sniping

Brian Lenz ·
@Hickster747 , the 48-hour countdown only starts once the first bid is placed.
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Re: Bidding system vulnerable to sniping

Hickster747 ·
Great, thanks Brian.
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Re: Bidding system vulnerable to sniping

Hickster747 ·
No worries, thanks.
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Re: Bidding system vulnerable to sniping

Brian Lenz ·
If you're signed in to the system, times displayed will be display in your local time zone. Guests should seem times in UTC, but it looks like there is a small issue causing them to be displayed in PDT currently, so we're working on getting that flipped over to UTC.
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Re: Bidding system vulnerable to sniping

Hickster747 ·
Thanks Brian. I take it the first bid time shown is in EST?
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Re: Bidding system vulnerable to sniping

Jezhar ·
Sniping is exactly what's happening. Very frustrating to watch an auction and participate to have no time to react at the last second. My strategy was wrong! Time to stay on the sidelines. I guess it's my own fault, I should have bid very high, even though there wasn't any activity for hours before the end.
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Re: Bidding system vulnerable to sniping

Soňa ·
Hi @Rosemary , I have a question. I read somewhere that if you withdraw a bid, you cannot bid on the same niche again. Does that apply only to a current round of bidding or also to the future bidding on that niche? I would be really sad if I withdraw a bid now and would not be able to bid again some time far (or maybe not so far) in the future. Who knows, I may be much more enthusiastic about that niche in the future than I am now. Thanks for your time!
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Re: Bidding system vulnerable to sniping

Malkazoid ·
Hello Jezhar Having a maximum bid system won’t guarantee you win - it just allows you to secretly put your best offer in. If someone beats that best offer, have no regrets since you didn’t want to spend more than you set as your maximum bid anyway? Good luck!
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Re: Bidding system vulnerable to sniping

Rosemary ·
Anyone else remember the old Will & Grace episode when Jack became obsessed with eBay and was furiously bidding for Britney Spears sandals? Sorry, I digress...
Topic

Important: Auction Payments On Hold For Now

Ted ·
Hi everyone- We are dealing with an issue that might impact when we record auction payments (and credit them to the winning bidders). Thus, until that issue is solved, we are going to suspend the ability to pay for niches for the time being. If you are a winning bidder, you'll be notified when we have resolved the problem and can accept your payment (and you will still have 24 hours from whenever we start accepting payments to send us your payment). We will provide more details later, but I...
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Re: Important: Auction Payments On Hold For Now

Gerbino ·
Thanks @Ted . I think another problem is that your bid slots (5 at the moment) are taken up if you bid on a niche and don’t win (i’m Guessing until it is paid for). This will mean that a lot of people won’t be able to bid soon..
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Re: Important: Auction Payments On Hold For Now

Rosemary ·
Hi, you should be able to withdraw your bid to preserve your slots. Are you not seeing a "withdraw" button on the auction page for a Niche you've bid on? I believe it's on the upper right side of the page.
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Re: Important: Auction Payments On Hold For Now

Gerbino ·
I didn’t see that the first time but i’ll check it out again. Thanks!
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Re: Important: Auction Payments On Hold For Now

Brian Lenz ·
I've posted an update about this delay. We will be opening up niche auction payments tomorrow April 4 at 8pm UTC . More details in the announcement: https://community.narrative.ne...tart-april-4-8pm-utc
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Re: Important: Auction Payments On Hold For Now

Rsqrd ·
I'll be keeping my eyes open for the coming week, but 24 hours is a very short window. I could have paid Today if there wasn't any issue. Think with the voting and bidding time being at least 48 hours, we should give the the winning bid some time as well to do the payment.
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Re: Important: Auction Payments On Hold For Now

Brian Lenz ·
Hi @Rsqrd , did you see the update I posted above? We'll give 72 hours for payment for anyone affected by this delay, starting April 4 at 8pm UTC . All auctions after that time will have the standard 24-hour window for payment.
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Re: Important: Auction Payments On Hold For Now

Rsqrd ·
Not yet, but thanks for the reply.This clears things up
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Re: Important: Auction Payments On Hold For Now

decentraliser ·
Hi, I just saw this message after having paid my first niche... Here is the experience I had: I made the transfer using neotracker.io, and when I clicked to validate the transaction, it showed "unknown error", then I clicked again, and I had the sames "unknown error" message... Afterwards I noticed both transfers went through. I minute after, the 2nd transfer was returned to me! So, it seems it is all good now, please tell of I have to do anything Thanks
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Re: Important: Auction Payments On Hold For Now

Brian Lenz ·
Hi @decentraliser ! There may be an issue with neotracker if it gave you an error message. But as you found, the system will return funds that don’t correspond to a payment so you should be all set!
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Re: Important: Auction Payments On Hold For Now

decentraliser ·
Cool, I'm pretty happy with this experience in the end ! I think you should add message on the payment page so people don't frenetically click on send when they see the error message on neotracker !
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