Tagged With "bidding"

Question

Stop all bidding until better controls are inplace

Bashar Abdullah ·
Following recent events, and seeing as everyone agrees bidding is being overtaken now by fake accounts with sabotage motives, and as it's clearly pushing away most legit bidders who care about the platform, or ending having them pay a much higher price, and as it's understandable going to take time until Narrative team can implement proper solution, I hereby call for Narrative to put halt on all bidding until a proper solution is in place. It's Beta anyways, and the goal is to test things.
Suggestion

Reduce minimum niche price for niches that aren't selling

Malkazoid ·
If you want to support this post effort and engage in discussion on the platform, you can upvote and/or comment here . Reviving an idea I think I first saw voiced by @Garden Gnome Publications: fire sales for less popular niches. a) $75 minimum price tag kills subjects which will not be hugely popular b) $75 minimum price tag excludes some people from niche ownership, who would otherwise purchase less popular niches c) excluding less popular subjects can have a very big negative impact on...
Suggestion

I would like to withdraw a bid on a niche, the auction is still under way

Malkazoid ·
Is this possible? It would help everyone involved because someone else bid before me, so the niche would still sell...
Reply

Re: Reduce minimum niche price for niches that aren't selling

Antimetica ·
I would definitely consider purchasing niches if they were in the $25 range or the fire sale is even more compelling. Great thinking! Get them sold and active. Let people who are passionate about their niche write quality, rich articles and be happy. I too was captivated by @airiam and their well thought out plans to own their chosen niche. I wish they could buy the one they want.
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Re: Reduce minimum niche price for niches that aren't selling

Vico Biscotti ·
Yes! $75 is way too much for some niches, especially considering the risks for a niche owner and the meager perspective for the minor niches. The economical side of the matter for Narrative, as pointed out very well, is an additional good reason for either lowering the price since the beginning (auctions will take care of raising the price) or putting dusty niches on fire sale.
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Re: Reduce minimum niche price for niches that aren't selling

Serroc ·
I agree (and commented on the Narrative post).
Reply

Re: Reduce minimum niche price for niches that aren't selling

AirI'am ·
The only thing keeping me from buying the niche I suggested myself is the price. You pay in nerve and the price is set on fiat, then why set the price on $75? Please lower it, so other people who are hesitating can make up their minds. By doing this, you'd be opening a way for more content to be created.
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Re: Reduce minimum niche price for niches that aren't selling

Slaz ·
I’m certain that the only niche that I bought during the Alpha period, The Netherlands, didn’t cost $75 but more like $35 (around 650 NRVE back then). I don’t remember what exactly the difference was and what the starting bid was based on. The point is, I wouldn’t have bought a niche if the minimum bid was $75. It’s technically not out of my financial reach or anything, but I’m not crypto savvy and didn’t join Narrative with the idea to invest. I just wanted a future alternative for my now...
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Re: Reduce minimum niche price for niches that aren't selling

Garden Gnome Publications ·
I think the $75 is an artificial price. If you let the market decide, many niches will sell for less. As is, the first time a niche doesn't earn back the $75 for a niche owner and they let it go back to auction, no one will buy that niche again. Who's going to buy a niche that has proven to have failed? How about this as a model: Start the bidding at $25. Let the market decide the price. Take the cut of the rewards pool allocated to the Tribunal and distribute it to the rest of the...
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Re: Reduce minimum niche price for niches that aren't selling

blueeyes8960 ·
I agree that a $75 base price is too high. I have a relatively active niche and it's earned $17 total so far, with part of that going to moderators (at some point). So at this rate, I won't break even the first year. And yes, I bought it with the thought of making a profit and being a stakeholder in the platform. I have actively promoted it with contests and promoting it on Steem and Twitter. So the purchasing of a niche is the business part for me. If all I wanted to do was create content,...
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Re: Reduce minimum niche price for niches that aren't selling

Garden Gnome Publications ·
@blueeyes8960 , don't lose hope on the niche earning money. It's still early. While we agree on the topic of discussion, I'm consciously aware that most businesses don't turn a profit for years. Amazon went for 10 years before becoming profitable. I certainly believe niches should be profitable, but if it happens in the first year, that's a huge bonus. I'd be happy turning a profit in the second or third year. But to do that, Narrative needs to make some serious changes to encourage real...
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Re: Reduce minimum niche price for niches that aren't selling

blueeyes8960 ·
@Garden Gnome Publications - I'm not complaining about the rewards so far, just making a point that maybe $75 is too high a starting point for a lot of these niches up for auction. Yes, I purchased a niche for the idea of profit, but I'm not expecting a fast turn around. But you have to remember, next year you're going to have to pay that $75 again plus a portion of the proceeds you made this year to retain ownership. It's really a misnomer to say we are purchasing these niches, when...
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Re: Reduce minimum niche price for niches that aren't selling

Serroc ·
I agree with @blueeyes8960 and I probably will not renew my niches, but I will continue to post in them for as long as they remain available to do so. I think that the character of Narrative will undergo another personality shift when the renewals come up - I assume it is based on the anniversary of purchase, so we shall see what happens in the Spring of 2020.
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Re: Reduce minimum niche price for niches that aren't selling

Garden Gnome Publications ·
@blueeyes8960 , yeah, I get it. I was the first person to call it leasing , which is a more accurate term. One thing: At renewal, it's $75 OR 10% (I believe) of the rewards earned for the past year, which ever is higher. Not both. If I recall, that's what I read in the spec. The implications of that are pretty stark. If you never earn back your $75 investment, you'll always lose money. On the other hand, if you do earn it back and then some, you'll pay more for the renewal, but it will all...
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Re: Reduce minimum niche price for niches that aren't selling

Malkazoid ·
@Garden Gnome Publications , @blueeyes8960 , @Serroc The concern over leasing does go way back. This is the first mention I've found of it: March 8th 2018. https://community.narrative.or...80#10039807109728180 Regardless of who first recognized it as more of a leasing paradigm, the situation is now exactly as @Garden Gnome Publications describes it. Our fledgling and vulnerable economy is already off to a rocky start. Currently NRVE has zero volume, and zero effective use cases. We are...
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Re: Reduce minimum niche price for niches that aren't selling

blueeyes8960 ·
@Garden Gnome Publications Yes, I believe you are right, the renewal is $75 or 10% of profit, whichever is greater. If I made $750 on my niche, paying $75 for renewal would equal the 10%. I'd be most indeed happy with that. But I'm on target to make way less than $75 so to turn around and pay another $75 on top of the current year loss would be a tough pill to swallow. Maybe the renewal fee should be waived if your niche did not earn the purchase price. I'll bet more people would be more...
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Re: Reduce minimum niche price for niches that aren't selling

Garden Gnome Publications ·
@Malkazoid , you bested me once again. I didn't realize you had talked about the leasing paradigm before me. Long before me, actually. But it's not surprising since you're a founding member. Having arrived later, I mentioned it as soon as I noticed it, which was right away. It's not so easily hidden. @blueeyes8960 , I understand your concern. We'll all have to make that decision come April 2, 2020. At that point, if my niche earned $70 in the first year and I can see promise in Narrative to...
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Re: Reduce minimum niche price for niches that aren't selling

Malkazoid ·
It may be that the honour of being a founding member ends up being a dubious one. Thank you for prompting me to dig back: it helps shake the complacency I eventually was lulled into about the platform. Realising now that the Team has been ignoring some of the warnings for 18 months = pretty sobering.
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Re: I would like to withdraw a bid on a niche, the auction is still under way

Bashar Abdullah ·
I think the issue would be this would create implications such as people bidding to spike the price, and then leave. Or draw non-serious bidders. Would love to hear Narrative's official answer though.
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Re: I would like to withdraw a bid on a niche, the auction is still under way

Brian Lenz ·
@Malkazoid , no, it's no longer possible to withdraw a bid. We previously supported withdrawing bids , but only if you were not the leading bidder. That model was problematic since someone who was outbid would remain (possibly unknown to them) obligated to pay for the niche if the auction winner failed to pay. That was too confusing of a system. We've never allowed withdrawing bids as the leading bidder, as doing so would allow manipulation of auctions and would only compromise the system.
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Re: I would like to withdraw a bid on a niche, the auction is still under way

Malkazoid ·
Thanks! That makes perfect sense. I know we're getting into serious wish list territory here, but I think I'd rather take a rep hit and be able to cancel my leading bid, since ownership of a niche is a big deal and if I'm not going to be able to do right by it, everyone wins if I don't become the owner. So if you were inclined to make any changes, I'd suggest allowing people to cancel one bid per month, and potentially include a rep hit. It is also pretty easy to automatically figure out...
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Re: I would like to withdraw a bid on a niche, the auction is still under way

MOLLY O ·
@Malkazoid . Since this is not an Issue (things are working as designed), I am going to change the Topic to "Suggestion" so it doesn't get lost.
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Re: I would like to withdraw a bid on a niche, the auction is still under way

Bashar Abdullah ·
@Malkazoid it's a shame to take a dip for your reputation. I'm not sure how soon this is coming, but another idea is to win the bid, and wait until you can sell your niche, and sell it to the interested person?
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Re: Stop all bidding until better controls are inplace

Malkazoid ·
Sadly, I agree. I wish there was another way, but we should do the right thing and prevent further damage, unless the fixes are literally as swift to be implemented as a halting of bidding is. I trust the Team will evaluate the swiftest route honestly.
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Re: Stop all bidding until better controls are inplace

Ted ·
This should be much improved now that we have rolled this out: https://www.narrative.org/post...ll-features-and-more
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