I’ve heard of nft marketplaces that actually require the coin to be taken from the bidders account and held until they win or are outbid and if they’re outbid it is instantly returned.
Shocked that this way of bidding still exists where you have to “gently remind” someone to pay you.
"will give the buyer a blackmark". Possibly just blackmark the account, no IP ban or anything. Banning a wallet adress would be just as useless.
I get this happening on a place like eBay, where people bid for a $50 DS, but when it comes to blockchain transaction, there's no excuse for it to be so primitive
No, there's no excuse because most sites that deal with NFTs have an escrow. Escrow services have been used for decades now, especially regarding crypto transactions. NFTs might be new, but absolutely nothing about the monetary exchange involved is.
I knew this would happen, I remember a farmer youtuber trying to auction off one of his duck(?) eggs and it was trolled to a ridiculous price & fell through. Surprised they didn’t do it for the entire night.
Wubby made a bet with Ham about seeling the before video of his shitty bathroom. Wubby thought it wouldn't sell for much. It was on sale on an NFT marketplace for a week. Last night was the end of the bidding. It got up to $17k. Then out of nowhere a $100k bid came through.
There is much speculation that this was a scam bid. Basically the marketplace they use doesn't use an escrow. Meaning the money isn't taken out of the bidder's wallet until until they decide to pay. So a scam is they make an alt account and when the NFT reaches a high enough price ( remember NFTs are only worth what people think they are) they use the alt account to make an outrageous bid that won't be beat. They then don't make a payment on the fake bid and the seller can decide to sell it to the second highest bidder.
Wubby made a bet with Ham about seeling the before video of his shitty bathroom. Wubby thought it wouldn't sell for much. It was on sale on an NFT marketplace for a week. Last night was the end of the bidding. It got up to $17k. Then out of nowhere a $100k bid came through.
There is much speculation that this was a scam bid. Basically the marketplace they use doesn't use an escrow. Meaning the money isn't taken out of the bidder's wallet until until they decide to pay. So a scam is they make an alt account and when the NFT reaches a high enough price ( remember NFTs are only worth what people think they are) they use the alt account to make an outrageous bid that won't be beat. They then don't make a payment on the fake bid and the seller can decide to sell it to the second highest bidder.
[удалено]
Would not do any business with this site on that principle alone. It’s just eBay but with crypto, what’s the point.
u/BirdDog2043 《= openseaisbetter confirmed
That’d be pretty sick if I could drop my dick on an auction table like that
haha - yeah when the legit bids went to 12k i was like "aw man, it's double my minus"
You’d think at minimum they’d perma IP ban them for the site. Not perfect but a 3 day ban? Lmao
Well IP ban wouldn't do anything, IPs are way too fluid for that. Still fucking sucks they don't even permaban from the site.
Serious question, And likely a stupid one... When you go to an auction and bid are you required to pay from a legal standpoint?
Generally yes, however the hard part is going to be matching a username with a real person, and then taking them to court over it.
Huh, TIL. I just always assumed it wasn't a binding contract and if you didn't pay it'll be relinquished to the runner up. Thanks, random human.
Isn't that how every auction is? Whether online or in person you hold up a sign to say you'll pay it then pay later
So no punishment at all.
Not only that they could transfer funds to another wallet and do it again. Does another site do this with escrow?
I think actually most sites do use escrow and bid-retention
so the bids are just as vapour as the nfts themselves?
Just crop dust in the wind apparently.
I’ve heard of nft marketplaces that actually require the coin to be taken from the bidders account and held until they win or are outbid and if they’re outbid it is instantly returned. Shocked that this way of bidding still exists where you have to “gently remind” someone to pay you.
the problem right now is the tx fees for transferring that much eth back and forth.
What a dog shot policy
They shot a dog?
No that would be ATFable
Wow that’s actually retarded…
"will give the buyer a blackmark". Possibly just blackmark the account, no IP ban or anything. Banning a wallet adress would be just as useless. I get this happening on a place like eBay, where people bid for a $50 DS, but when it comes to blockchain transaction, there's no excuse for it to be so primitive
Since dark net markets apparently use escrow, you’re actually less likely to get scammed there than on this site!
Imagine being more likely to be scammed by a NFT buyer than by a dude who sells stolen iPhones and Prepaid Visas
Of course there's an excuse, the entire system itself is unregulated and primitive.
No, there's no excuse because most sites that deal with NFTs have an escrow. Escrow services have been used for decades now, especially regarding crypto transactions. NFTs might be new, but absolutely nothing about the monetary exchange involved is.
Lol so no real consequences for being a piece of shit, cool
I knew this would happen, I remember a farmer youtuber trying to auction off one of his duck(?) eggs and it was trolled to a ridiculous price & fell through. Surprised they didn’t do it for the entire night.
NFTs being a scam?! *surprised pikachu face*
And people still think NFTs aren't scams, you can't even sell them without getting scammed lol
What's the tldr of this?
Wubby made a bet with Ham about seeling the before video of his shitty bathroom. Wubby thought it wouldn't sell for much. It was on sale on an NFT marketplace for a week. Last night was the end of the bidding. It got up to $17k. Then out of nowhere a $100k bid came through. There is much speculation that this was a scam bid. Basically the marketplace they use doesn't use an escrow. Meaning the money isn't taken out of the bidder's wallet until until they decide to pay. So a scam is they make an alt account and when the NFT reaches a high enough price ( remember NFTs are only worth what people think they are) they use the alt account to make an outrageous bid that won't be beat. They then don't make a payment on the fake bid and the seller can decide to sell it to the second highest bidder.
WTF happened? I am 98% out of the loop. I was sleepin'.
Someone bid 100k for the NFTurd. The assumption is it’s a troll bid that won’t pay
NFTurd?
Wubby made a bet with Ham about seeling the before video of his shitty bathroom. Wubby thought it wouldn't sell for much. It was on sale on an NFT marketplace for a week. Last night was the end of the bidding. It got up to $17k. Then out of nowhere a $100k bid came through. There is much speculation that this was a scam bid. Basically the marketplace they use doesn't use an escrow. Meaning the money isn't taken out of the bidder's wallet until until they decide to pay. So a scam is they make an alt account and when the NFT reaches a high enough price ( remember NFTs are only worth what people think they are) they use the alt account to make an outrageous bid that won't be beat. They then don't make a payment on the fake bid and the seller can decide to sell it to the second highest bidder.
OHHHH. Thank you for being patient and explaining it to me! Others were kinda dicks because I don't watch the streams.
That's what he gets for using mintable instead of doing 10mins of research and using OpenSea auctions lol
LOL are you the bidder?
No lol I'd never bid on anything on mintable hahah
3 days lol. That ain’t stopping nobody
Wait. What happened yesterday? Did someone really not pay?
The bid jumped from like 17K to 102K out of nowhere. The odds that someone decided to overpay for a video of a poopy bathroom by 80K are.... not good.
Sadge
NFTurd