Yes! Auction 2 is live now!

Announcements
#1

Yes! Another round of Auction starts now!! There is no change in conditions from the previous auction other than the address of the NEM account to send to.

The rules of the XEM auction:


    [li]Bid shall be in BTC[/li]
    [li]Bidding process shall follow the blind auction style. i.e., all successful bidders shall pay for the winning bids starting from the highest winning bid to the lowest winning bid, filling up to the requisite amount to be auctioned.[/li]
    [li]There shall be a reserved price and we reserve the right to reject any or all of the bids[/li]
    [li]The minimum bid shall be 1 million XEM and in blocks of 1 million XEM increments.[/li]
    [li]Successful bidders shall be given up to 12 hours to pay up to a specified BTC account to be announced.[/li]
    [li]The bidding fee shall be 1,000 XEM, non-refundable, to encourage serious bidding.[/li]
    [li]Each bid shall include in the transaction, an encrypted message stating the bid quantity in blocks of 1 million XEM and the total price on the blocks bid in the following format: "X blocks, Y BTC", meaning you bid Y BTC for X Million XEM - Total sum each. As an example, 5 blocks, 10BTC (for 2 BTC per block). Repeat: Send as an encrypted message.[/li]
    [li]In the event of tie bids, it will be a first come first serve basis based on the block time stamp of the transaction[/li]
    [li]All bids shall be sent to the following NEM account together with 1000 XEM and the encrypted message: NAZPF6-LVM6GU-E57BZ3-P4J5V6-M6WB7O-LJ7VB5-5SXJ [/li]




    Successful bidders will be sent a message to their NEM wallet accounts for further instructions. You are to respond within 12 hours.

    Good luck!!


    [center]This bid closed at 06:30 UTC on 21st. April, 2015.
    Bidders will be informed of their bid outcomes via their NEM Accounts shortly. Please stay tuned!    [/center]

    [center]==========================================POST BID NEWS==========================================[/center]
    The auction concluded with 9 bids with an aggregate total of 62 blocks of 1 million XEM each. For this round of auction, we shall be releasing 38 blocks, i.e., 38 million XEM. The average bid price per XEM  was 58.79 Satoshi. The market rate at that time was a shade lower.

    Successful bidders have been sent messages to their NEM wallet accounts for further instructions. You are to respond within 12 hours. Please note our official BTC account is 1PxrkQfPc9cvgPd4okAusye359jUgjcrPH. You may reply by breaking up the BTC TxID into two parts as the encryption text length is limited.

    Once again, thank you for your support.

    Note:
    Previous Auction No 1: 19 million XEM was auctioned off at an average of 70.79 Satoshi each.
#2

Reminder: Please encrypt offer.

#3

So, you bid by sending funds? But not all biddings are selected for funding right? Because last time there was 19 blocks selected from the 70 or so invested?

#4

So what happends with The bids that are not accepted? Send back? What kind of encrypted message should be added?

#5


So what happends with The bids that are not accepted? Send back? What kind of encrypted message should be added?


No, they are not sent back. You pay to play. Otherwise scammers would flood them with phony bids.

Send the message like this


4 blocks 2.5 BTC


Which means you want to buy 4 million for 2.5 btc.

Just multiply the price you want to pay by how many million you want to buy to get the number of BTC you would pay.


Thanks for helping out in the explanation.

Basically you send your bid and you don't pay the BTC. You will only pay up if and when your bid is accepted. When you are bidding, you will need to send in 1000 XEM as a non-refundable bidding fee as part of your bid.
#6

Auction is over.


Our goal is mostly met, so there won't be another auction for a long time.

#7

When will you contact the bidders?
(Will non-winning bidders also get notified?  ;D)

#8

Please post a summary of total XEM sold.  Also an average price point if possible.  Thanks

#9

Are We having another Auction soon?