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 feature urgently?  Some 48 hour auctions are now underway.

If the answer is you need more time, would you please suspend the auctions until the feature is rolled out?  I know this is less than ideal, but this feature really should have been in place before launching Chaucer. 

I, for one, would be extremely upset to lose a niche to a last minute 1 NRVE snipe...  

Does this make sense to the community?

Original Post

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!

Brian Lenz posted:

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!

very good to know! Yes definitely worth updating before Chaucer opens up to the wider audience. 

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

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.

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 market rate will be set based on the average exchange rate for NRVE, as listed on CoinMarketCap.com (or similar), or if that information is unavailable (for instance, if NRVE is not yet listed on exchanges) the market rate will be pegged to the public token sale rate of 300 NRVE per NEO, with the NEO rate set by the current market rate.

The NEO/USD rate is currently updated once per day at midnight UTC.

Hope that helps!

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..

@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).

Hickster747 posted:
Brian Lenz posted:

@Hickster747, the 48-hour countdown only starts once the first bid is placed.

Thanks Brian. I take it the first bid time shown is in EST?

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.

Brian Lenz posted:
Hickster747 posted:
Brian Lenz posted:

@Hickster747, the 48-hour countdown only starts once the first bid is placed.

Thanks Brian. I take it the first bid time shown is in EST?

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.

No worries, thanks.

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.

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!

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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