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Thread: uBIDUP - Fair Bitcoin auctions

  1. #1
    Junior Member
    Join Date
    Jan 2014

    uBIDUP - Fair Bitcoin auctions


    uBIDUP website allows users to bid for digital currencies based on unique auction mechanism. A lowest unique bid auction is a type of strategy game related to traditional auctions where the winner is the individual with the lowest unique bid. Unique bid auction is a form of competition and strategy game where bidders pay a bidding fee to make a bid in order to be able to participate. Auction is ended when required number of bid is reached. In our model we hide only top n bids for give auction. It is making the game more attractive form strategy point of view and as well it gives better transparency. Our goal is to make the game enjoying and fair for all.

    For example, a unique bid auction might run as follows:

    Value Number of bids Comment
    0.01 35
    0.02 12
    0.03 4
    0.06 1 Winner
    0.07 1
    0.08 0
    0.09 34

    In above scenario winner is player who bid 0.06. This player will receive a winning price.

  2. #2
    Ashley Davies
    Join Date
    Jan 2017
    Frankly speaking, I've never heard about such an auction, though I like playing games and find a possibility to use digital money for this purpose to be great and convenient. I visit various cryptocurrency gambling sites, but I never played the suggested game. So, thanks for share, I'll check it out!

  3. #3
    Junior Member
    Join Date
    Dec 2020
    wow, good

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