TOPIC: Going back to fewer auctions/non competing auctions?

At the end of the day there is either going to be full transparency in Utaku’s auctions or this same debate is going to start up in his auction thread as soon as he starts the next one.

As has been stated if an item has a rollover bid only the person who placed the rollover bid has a chance to get the item for less than the floor they have placed. This is a significant issue and unfair to the general public. We can debate how unfair this is, but it is indisputable that the first mover has the advantage.

Others can also bid below the max, thencarry over

Wade Schwendemann (Dr. Uid) wrote: Others can also bid below the max, thencarry over

Yes, there can be more than one insider in the Auction. How does this make it fair for the general public on the outside?

Grizwald wrote:

OrionW wrote:

Utaku Soto wrote: Hi Mike - Great clarification question! This is more a policy note to confirm all bidders will be given the opportunity to carry their bids into the next auction if interested.

As a general rule, I keep all of the bidding data under lock and key as think any direct sharing of amounts or scope is a breach of privacy for any participants. This is also true for sponsored auctions as I do not share any bidding information with the sponsors throughout the auction.

Thank you for the question and hope that helps clarify!

Not good enough. What you are running is the difference between an auction with a reserve price compared to the others that do not have any floor value for new bidders.

At a minimum you should indicate that you are not running a “standard” lighting auction and put an asterisk next to any item that is carrying over a bid from the previous auction.

Let's say a new auction starts. A new bidder wants some amount of PYPs, but they are not there exactly when the auction opens. The new bidder sees that all the PYPs have bids on them. The new bidder can decide if they think their bid is going to be good enough to win the PYPs they want. Where is the difference if some of the bids came in before the auction started or right as it started?

Because the new bidder has NO CHANCE to have THEIR bid be the starting bid and win it at that price vs the person who's had a bid carried over.

If the bids come in BEFORE the auction starts the new bidder is immediately at a disadvantage and required to spend more money to win vs the pre-starting bid.

If everyone knows bid can be carried over, then everyone knows.


This really feels like a theoretical problem

ini wrote: Yeah, this isn't a real issue lol. If your price is higher, then you get the thing. If it's not, then you don't? Ties are so rare that it doesn't really matter. The alternative methods (queues/etc) have the same timing issue based on when it goes live.

Have you looked at auctions that end?

Do you ever see PYPs that go at different prices in different quantities?

ties are EXTREMELY common in auctions, and in every case the tie goes to the early bidder.

Wade Schwendemann (Dr. Uid) wrote: If everyone knows bid can be carried over, then everyone knows.


This really feels like a theoretical problem

People in this thread have said it's lead to them no longer participating in auctions.

That's the definition of "not theoretical"

Wade Schwendemann (Dr. Uid) wrote: If everyone knows bid can be carried over, then everyone knows.


This really feels like a theoretical problem

It’s hard for me to take your posts at face value knowing that you are sponsoring one of Utaku’s auctions and are set to financial benefit.

Would you feel the same way if you were on the outside and had bid in multiple Utaku auctions not knowing it was a two tier system (as I have)?

In Utaku’s auctions are only the losing bids allowed to be carried forward, or are the winning bidders allowed to continue having first chance at buying the tokens at that price? I don't really have an issue with the losing bids carry over hoping the prices drop, but if the winning bidders get to have monopoly on that price point without anyone else getting the chance to bid before them... that is a problem.

Beertram wrote: In Utaku’s auctions are only the losing bids allowed to be carried forward, or are the winning bidders allowed to continue having first chance at buying the tokens at that price? I don't really have an issue with the losing bids carry over hoping the prices drop, but if the winning bidders get to have monopoly on that price point without anyone else getting the chance to bid before them... that is a problem.

Except that the losing bidders then have a monopoly on that price point without anyone else getting the chance to bid before them. How is it a problem for one bidder but not another?

I haven't sponsored and auction and I'm not currently on the list. I was considering it earlier this year, but I'm not in the list at the moment.

That being said, I would for the next round though so your point about bias isn't entirely wrong. The same can be said of most people in this thread though, there are a lot of personal biases being glossed over.

To be clear:
I think this system is rather efficient and like it, so in that sense I am biased and advocating for it. Apologies if I came off otherwise, totally wasn't my intent. Text being what it is.

OrionW wrote:

Wade Schwendemann (Dr. Uid) wrote: If everyone knows bid can be carried over, then everyone knows.


This really feels like a theoretical problem

It’s hard for me to take your posts at face value knowing that you are sponsoring one of Utaku’s auctions and are set to financial benefit.

Would you feel the same way if you were on the outside and had bid in multiple Utaku auctions not knowing it was a two tier system (as I have)?

If you're looking for credentials or other support, please ask your best friends.

That said,everyone should know all the rules.

Does it matter if you are overriding a prior bidder in a previous auction or the current one?

Don't cast aspersions at me.