See https://manifold.markets/mana-auction
See also https://en.wikipedia.org/wiki/Dollar_auction
Will the highest bid in the mana auction be higher than ₮10,000 ?
NO on 10,000 or lower. YES on 10,001 or higher. N/A if something unexpected happens, like they cancel the whole thing or you don't really need to pay or so on.
Related questions
🏅 Top traders
| # | Name | Total profit |
|---|---|---|
| 1 | Ṁ27 | |
| 2 | Ṁ11 | |
| 3 | Ṁ9 | |
| 4 | Ṁ5 | |
| 5 | Ṁ4 |
... I don't think conventional game theory says anything about entering the market with a higher bid than the prize value, @Mira
@citrinitas I just spent M4k to fuck over Catnee for M12k. That's 3x capital efficiency reducing the potential threat from my opponents in future whalebait markets, ultimately leading to more profit in the long-term. The whale coalition is dangerous and if I don't execute capital-reducing moves on them, such as hitting their large limit orders in long-term markets(hi Isaac) or burning their mana even at cost to myself.
I didn't say anything, because an explicitly stated policy of "spend money to cause others damage" causes people to think of doing the same to me and there would be activity on it. Activity makes them more skeptical and aware. They would time it closer to the end. I wanted it to appear like a stale uninteresting auction, so potential adversaries would think themselves clever for doing a last-second rugpull, and casually enter a higher bid without thinking too hard.
But I knew. I had the M14k bid entered, and my mouse over the button watching the counter tick down. I knew one of them would do it, and I'm happy with my purchase.