Re: [s-d] [s-b] Black motion

["Craig Daniel" <teucer@xxxxxxxxx>]

On Fri, Nov 14, 2008 at 10:58 PM, Jay Campbell <bnomic@xxxxxxxxxxxxxxx> wrote:
> I post this motion to Black Corporation and vote YES {
>
> ADJUST the issue price of Black Socks to m1000.
> ISSUE ten Black Socks.
> AUTHORIZE the Officers to conduct a dutch auction {{
>
> Players have 48 hours from the enactment of this motion to post a bid to
> the public forum for one or more Black Socks. The minimum bid is m50.
> The ten highest bids win. In the case of tie amounts and insufficient
> Socks, the earliest bidder at that price wins.
>
> Upon winning players transferring their high bid amounts to this
> Corporation, transfer the appropriate number of Black Socks to that
> player. Transfer the auction proceeds to a Black Sockholder chosen by
> the random dice server.
>
> }}

That's actually a standard auction. A Dutch auction would involve the
price starting at something unreasonably and going steadily down
(usually at a fixed or at least predetermined rate) until somebody
announces that they are buying.
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