I had this Denarium physical bitcoin kicking around, so decided to do something a bit fun with it!

I will send this coin (unopened) and all BTC it contains to the winner of a ‘reverse auction’ for it. A reverse auction is where the lowest unique bid wins. This one is a little unique in that the cost to bid is the bid itself. I.e. the more bids received, the higher the BTC balance you could win. So it is really a reverse auction sweepstake!

HOW TO PLAY …

To bid, send the amount directly to the coin (click to enlarge):

Once sent, please send the transaction ID to me on Twitter: alistairmilne

IMPORTANT: All decimal places after the 3rd will be IGNORED. Therefore 0.001 BTC is the lowest possible bid. 0.0011 still counts as a bid for 0.001, as does 0.0019 (no rounding, excess digits are thrown away)

If there is a dispute over who sent a bid, you will be requested to prove ownership (e.g. by moving the change or by proving you control the address the BTC came from)

The auction will end at 8pm, 4th November 2016 (CEST). Your bid must be in the mempool of blockchain.info before this time to be counted. We will wait for 3 confirmations before announcing the winner.

Click for countdown timer – Auction ended!

Click for blockchain.info data

NOTES:

If someone bids the same amount as you, your bid is no longer unique and therefore disqualified. You may bid as many times as you want (e.g. to kill bids lower than your own)

I will ship the coin at my own expense, the whole balance will remain on the Denarium coin

No bid refunds!

Blockchain.info’s mempool will arbitrate the order bids are made & the cut off time