Tagged With "maximum bid"

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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Emily Barnett ·
Glad that I remembered that this was here. Now that I am able to bid, I needed to refresh my memory on how the maximum bidding worked.
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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 ·
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 ·
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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Gerbino ·
very good to know! Yes definitely worth updating before Chaucer opens up to the wider audience.
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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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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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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 ·
Thanks Brian. I take it the first bid time shown is in EST?
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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 ·
No worries, thanks.
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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

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

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

Ricardo Guerra ·
Thanks! This helped a lot! Very clear now!
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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

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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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 ·
Great, thanks Brian.
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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...
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