An auction site for Devcoin users went online this month, and early registrants are eligible for discounts and freebies.
Devcoin Auctions, where users can buy labeled consumer products such as electronics, start at zero and typically don’t approach full retail price, according to the site. Users can sign up for free and purchase bids.
Depending on the bid package you purchase, a single bid costs just more or less than US$1. This price, according to a blog post on the site, reflects the volatility of cryptocurrencies, vigilance against bots and shill bidding, and maintenance of an affiliate program.
Users can pay with BTC, LTC, DVC and PayPal. All profits from Devcoin Auctions will go toward the Devcoin project itself.
A limited number of free bids have been set aside for new members. Those who sign up in time will receive 15 such bids, according to a statement on behalf of the site. Also, bid packages through the end of May will be discounted 25%, and affiliate commissions will be doubled during that time frame.
Wrote site’s founder, sidhujag: “I wanted to create another example of a business like devtome.com that provides a service which is aligned with the goals of Devcoin but in tune to financial results so that not only would it be self-sustaining, but giving people jobs as well as using profits to buy Devcoins at market, and then put the rest in the Devcoin Community Fund which will be used at a future time to fund other open-source projects that the community deems fit for its contribution...the Devcoin economy should improve drastically when the business becomes self-sufficient.”