, those participating in the bidding process will be required to send their entire bid amount in BTC to a unique BTC address controlled by Yuga. Winners would simply pay up the BTC they bid, while Yuga said it would return the BTC to those unsuccessful in placing a top bid.
Such a plan however has earned the ire of some within the crypto community, with some pointing out that having to manually conduct refunds for unsuccessful bids is like the “stone age.” so the way yugas auction will work tomorrow is everyone sends Bitcoin to one wallet and if you lose the bid they promise to manually send it backThe user behind an Ordinals-focused Twitter account “ordinally” called the auction model a “scammers dream” and added while they doubt Yuga would keep the BTC from failed bids, the way it carried out the auction sets a “REALLY bad precedence.”
Yuga is establishing REALLY bad precedence running an auction like this. They are taking custody of bidders’ bitcoin with a promise to send back unsuccessful bids. Not doubting they’ll do that, but this model is a scammer’s dream, and credible players need to set better example.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Galaxy Digital Report Predicts Bitcoin NFT Market Could Reach $4.5 Billion by 2025 – Bitcoin NewsA Galaxy report on the subject says the market size of NFTs built on Bitcoin could reach $4.5 billion over the next two years. Grandpa's Bitcoin is still there. 😂 The big investment funds want you to sell your bitcoins... it's obvious, donotsellyourbitcoins
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin, Ethereum Technical Analysis: BTC Consolidates Recent Losses to Start the Weekend – Market Updates Bitcoin NewsBitcoin consolidated recent losses on March 4, as cryptocurrency markets marginally stabilized from Friday’s sell-off. Using Chiefrafba for signals and analysis I have a 92% win rate in 2 months Ok, I also listen to ChiefraFba for signals and analysis!..I have a 93% win rate in 3 months of copying his signals! Ok cool, I only listen to ChiefraFba for signals and analysis!..I have a 93% win rate in 3 months of copying his signals!
Source: BTCTN - 🏆 531. / 51 Read more »
Nifty News: Dan Harmon’s NFT show set for season 3, NFT-friendly Square Enix CEO steps down and more…Dan Harmon’s NFT-related cartoon show Krapopolis has been renewed for a third season by Fox, and Magic Eden is offering free access to 13 blockchain games as part of “Mint Madness.” SecondLiveReal , team is expertise in virtual space creation for large-scale events and Metaverse infrastructure building. More than 1 million users are gathering here to facilitate. secondlive web3 stake bean earn Live Website: There are so many garbage bot responses in this thread, great job elonmusk I don't think it will be with games like this coming out. You use NFTs for in game items
Source: Cointelegraph - 🏆 562. / 51 Read more »