Bitcoin (BTC) Amount: 0.01 BTC
The auction timer counts down to the end of the auction.
When the auction timer reaches 00:00:00, the auction ends and the winner is the user who placed the last bid.
1. Bidding is placing an offer.
2. Each bid on the previous offer extends the auction time by the time specified in the auction card. Depending on the auction, this can be from 5 to 60 seconds.
3. Each bid increases the item price by a few symbolic cents. Depending on the auction, this can be equivalent to 1 to 10 cents.
You need Bids to place a bid. BIDs are the currency of the service that allows you to participate in all auctions and buy items for pennies. To purchase BIDs, click here.
You can approach the auction yourself using the "Bid" button or use a special Auto-bidder that will help you participate in the auction when you are not at your computer. (read more).
Bitcoin (BTC) is a decentralized digital currency, also known as cryptocurrency, that was invented in 2008 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It was launched as open-source software in 2009. Bitcoin operates without a central authority, such as a government or a bank, and transactions are recorded in a public, digital ledger called the blockchain.
Bitcoins are created through a process called mining, where powerful computers compete to solve complex mathematical problems in order to add a new block of transactions to the blockchain. As a reward for this work, the miner who successfully adds the block is rewarded with new bitcoins. The total number of bitcoins that can ever be mined is capped at 21 million.
Bitcoin transactions are made directly between users, without the need for intermediaries like banks. This allows for faster and often cheaper transactions, but it can also make the currency more susceptible to illicit uses, such as money laundering or buying illegal goods.
Since its introduction, Bitcoin's value has experienced significant fluctuations, making it a highly speculative and volatile investment. Nonetheless, it has inspired the creation of many other cryptocurrencies, collectively known as altcoins, and has sparked ongoing debates about the potential roles and impact of cryptocurrencies and blockchain technology in the global financial system.