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bidonbitcoins.com Suspicion of Bots
The site has been showing suspicious behavior that suggests that an auto-bidding bot or “Sniper Bot” is manipulating the game to push the price so high it goes beyond the price of the bitcoin itself. Here is a link to a photo with typical auction.
Notice the bot is continuing to bid even when its not profitable for the bidder, the only one who profits from that is the site owner.
It is not fraud, it is Dollar Auction (a game in which players with perfect information in the game are compelled to make an ultimately irrational decision based completely on a sequence of rational choices made throughout the game). http://en.wikipedia.org/wiki/Dollar_auction
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LikeDislikePenny/dollar auctions are structured to mislead customers for the operators’ benefit. The fact that it is a dollar auction does not preclude fraud.
Any penny auction operator can make 100% profit by automatically outbidding everyone else (this is fraud). That could be what is going on above, or two idiots (OP and someone else) are both playing to win at all costs, irrationally losing money.
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LikeDislikeKeep it on the shitlist please, even though it is not a fraud in the sense described by Giantdragon it is definitely predatory: if you do not analyze the ‘game’ entirely before entering it you will be fleeced.
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