| Prize: | BTC | |
| BTC | ||
| Your bid: | BTC | |
| Status: |
| Prize: | BTC | |
| BTC | ||
| Your bid: | BTC | |
| Status: |
| Q: | How does it work? | |
| A: | Bid BTC to get some more BTC as a prize. The highest bidder wins the auction and gets the prize. If you do not win the auction you will not get your BTC back, because they are used to pay the prize. Therefore, the prize increases with every bid. While the auction is running you are able to send additional BTC to increase your bid. |
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| Q: | How do I access my account? Is there a password? | |
| A: | No, there is no password. You can access the account with the URL you get redirected to after entering the payout address (remember to bookmark it). You do not need to worry about security, because the payout address can not be changed. You can even give the URL to others, without having to worry. |
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| Q: | Is it possible to change the payout address? | |
| A: | No, for security reasons it is not possible. | |
| Q: | Is it possible to increase the bid after the end of the auction? What happens if my BTC arrive too late? |
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| A: | Only transactions that are confirmed before the end of the auction are taken into account. If your bid arrives afer the end of the auction it will be sent to your payout address; that means that you get your BTC back. If only a part of your bid arrives too late, you will only get this part back. |
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| Q: | The results did change after the end of the auction. What happened? | |
| A: | The server works with a small delay. Therefore, a send can be on time even if it did not show up before the end of the auction. To check if a send was on time we use the block timestamp. | |
| Q: | Someone else has made a higher bid. Are my BTC lost now? | |
| A: | No, to be first again you just need to increase. To do so, send the amount you want to increase by to the address which is displayed. The only situation when your BTC are lost is when the auction is finished. One thing you have to remember is that confirming your bid takes some time, so you should not wait too long with increasing. |
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| Q: | What happens if multiple participants bid equal amounts (highest bid)? | |
| A: | They will be told to increase. If the auction is finished with multiple equal highest bids, one of them will be randomly chosen to win the auction. |
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| Q: | I have won the auction. When will my BTC arrive? | |
| A: | It can take up to 24 hours until your BTC arrive. If they did not arrive after 24 hours contact us. | |
| Q: | I have sent some BTC, but they do not show up. | |
| A: | You have to wait for some time until your send is confirmed by the bitcoin network before it shows up. If your bid arrives after the end of the auction, it will not be displayed. It will be sent to your payout address automatically. |
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| Q: | How long does it take to get my send confirmed? | |
| A: | You can not exactly say how long it takes to progress a new block in the blockchain, but it is about 10 minutes in average. | |
| Q: | Why do I have to use the green address feature with Instawallet? | |
| A: | We are only able to track your bid from the blockchain if you use the green address feature. | |
| Q: | What is bitcoin? | |
| A: | You can find a short introduction video at www.weusecoins.com. | |
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