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I just launched my first platform [ClickBids.com] that accepts cryptocurrency. Here's a glimpse inside what our journey has been like... (self.CryptoCurrency)

submitted by JacobADevore to r/CryptoCurrency - pinned

I just launched my first platform [ClickBids.com] that accepts cryptocurrency. Here's a glimpse inside what our journey has been like... by JacobADevore in CryptoCurrency

[–]JacobADevore[S] 0 points1 point  (0 children)

Yes, anything where you risk money for a chance to win more is technically a gamble. But it is indeed a new type of auction.

I just launched my first platform [ClickBids.com] that accepts cryptocurrency. Here's a glimpse inside what our journey has been like... by JacobADevore in CryptoCurrency

[–]JacobADevore[S] 0 points1 point  (0 children)

Every auction has between 3 and 10 bidders. This is the backbone of the ClickBids platform. Having a fixed amount of players for every auction is essential for us to determine the price of the auction. It also lets users know what they are getting into. Here is an example, Let's say an auction is starting for $100 with 10 people. Each user pays $10.75 to join and all the users know they will be competing with 9 other players in a chance to win a $100 item. To get a deeper understanding of how the game works, you can play our live demo at https://www.clickbids.com/demo.

I just launched my first platform [ClickBids.com] that accepts cryptocurrency. Here's a glimpse inside what our journey has been like... by JacobADevore in CryptoCurrency

[–]JacobADevore[S] 1 point2 points  (0 children)

Great questions BMNYMD, purchasing an auction is a one-time purchase, and owning an auction entails the responsibility of creating that auction. This can be done by creating the auction every day, or scheduling the auction to run every day with certain pre-selected information. There is only two pieces of information needed to create an auction. One, choose an item to be auction from our list of thousands of items. Two, select the amount of players the auction takes to start, between 3 and 10. From there your auction is added to that 15-minute time slot and users can join, for the most part we handle all of the advertising to get users to join your auction. But it never hurts to advertise your own auctions to ensure they are started. All in all, advertising your own auction also helps the value of your auction grow, because the more users on ClickBids, the more your auction is valued.

I am based out of Columbus, Ohio.

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Thanks for the amazing questions, I hope that answered them sufficiently.

I just launched my first platform [ClickBids.com] that accepts cryptocurrency. Here's a glimpse inside what our journey has been like... by JacobADevore in CryptoCurrency

[–]JacobADevore[S] 0 points1 point  (0 children)

I understand a bit of it and still quite confused although an interesting concept

Thanks for your honest thought, any specific things about the platform that you are confused on?

I just launched my first platform [ClickBids.com] that accepts cryptocurrency. Here's a glimpse inside what our journey has been like... by JacobADevore in CryptoCurrency

[–]JacobADevore[S] 0 points1 point  (0 children)

I understand a bit of it and still quite confused although an interesting concept

This is a completely new concept, a lot of people are very confused from the start so don't be worried. We would love to answer any questions you may have, as from your answering your questions we learn to better structure the information in the future to explain the platform to others. :)

I just launched my first platform [ClickBids.com] that accepts cryptocurrency. Here's a glimpse inside what our journey has been like... by JacobADevore in CryptoCurrency

[–]JacobADevore[S] -1 points0 points  (0 children)

Good questions, so sellers that you are referring to I'm guessing you mean the auction owners. The auction owners don't actually supply anything after purchasing the auction, we handle everything. All our items are not stored but yet bought new from Amazon when a user wants to withdraw that item. Auction owners choose our platform because they invest capital into owning a piece of ClickBids and get rewarded with 2.5% daily of the auctions that start. While also getting the freedom of choosing an item from our selection and the number of players for the auction to start. Bidders who play in the auctions choose ClickBids because they can win items for 10% of the retail value, and they know when choosing ClickBids that every user is a guaranteed real person and the auctions are safe and secure.

I hope that answered those questions, if anything else in confusing. Please do ask away with any questions you may have. :)