I know I’m not usually one to even give a thought to suspicious bidding or reward activity. For some reason, one glance at the bidding history screenshot and immediately there were a few details that caught my attention.
@Kyle93 I know it’s odd to read this from me Only messing fella but honestly I’m sure you will appreciate this one .
I am honest, even to me there looks to be something not quite right about this particular auction.
Obviously, there is the point you’ve already mentioned that the winner and runner up have identical winning figures. Also, that it was actually won by the user to enter the duplicate bid. If a bit of the same value, a standard auction term would usually reject any duplicate bids.
Looking back through the history, there are multiple instances where the second user has entered a bid at the same value as the pre-existing highest bid. The list of bids shows that in multiple instances, the same user has entered the same bid value twice in a row and even more unusual, The very same user has raised their bid by 0.01swc against their own highest bid. Yet the winning bidder only ever enters the duplicate of the current highest bid, showing only one event for the bid entry.
Even looking at the profiles doesn’t seem look right.
One user appears to follow nobody but with 1250 users showing as followers. In two years, with that kind of following, you would kind of anticipate that the user might follow at least one person in return.
The other (winning) user also appears to be following zero users but shows being followed by 232 users. In the best part of 2.5 years again, it is again a little strange to see that the user follows nobody.
Obviously, it can’t be discounted that all the points could be a series of related or unrelated glitches… even just a series of very improbable but not technically impossible coincidences. So, I am not making any actual suggestion of anything in particular. Only saying that in my own opinion, something about it just doesn’t look quite right on the surface.
Worth mentioning that my experience of the sweatcoin auctions features so far has been the flash Instagram auctions as the regular marketplace auctions feature Still appears to be awaiting roll out across influencer user accounts. It may be that there are some nuances that may explain everything and that I’ve just written another ridiculously long post with no viable purpose.
After reading this imma just avoid auctions altogether
Marathon rewards still available why do i have to do this
@b150m at seems a bit extreme mate. Chances are that it’s just a couple of bugs or simply really odd coincidence.
If it’s anything more than that, I’m sure the technical team will be on it and have it resolved. I think that the team at Sweatcoin would vet user claims before sending any prizes/rewards anyway. The auctions seem to be quite a good feature, certainly not worth just giving up on them.
Thanks a lot for this great post Phatt. I see all your points and would like to add an additional one.
As a „hardcore economic“ guy I also came to the conclusion that the auctioning process is not (fully) in line with human behavior in game theory.
What’s my point: Outbidding someone by 0.01 SWC especially within the last minutes of the auction makes no sense (1) given that you really like/want to win the article and (2) given that it is nearly impossible that you will ever win a second auction after you spent this huge bunch of coins while your competitors are increasing their still available pile of coins even more.
Ad (1) example: referring to this user Gautam (please use a Profile Foto with shirt on by the way…), he is playing nearly every auction but gets outbid at the end every time though his profile indicates he most likely has more coins in stock. Given statement (2) it would be logical to go all in and not play around in 0.01 steps if you really want the offer.
So same as you Phatt I feel some things are going a bit strange here…
But to defend sweatcoin inc to some extend.
Given the effort they are spending to improve the app I of course don’t believe that auctions are fake since it makes sense that they are at least spending this few bugs every 48 hours which should be easy given ad revenue and a bunch of subscriptions.
Lol I didn’t actually get as far as to think about that as even being a possibility.
Let me give my 5 cent worth of input.
Increasing the bid by 0.01 SWC at the very last min do make sense when
- To key in a totally new figure (eg 23,710.00 SWC) will take more than a few sec (have to input the 7 new digit into a screen. Forgotten if one need to input the fullstop and commas or not)
- To up the bid by 0.01 SWC only require to click a ‘’+" button and this can be done in under 1 sec
- At the very last critical moment (maybe a few minute or less towards the end of auction), the app might not be so responsive and might even ‘‘hang up’’ ( if one still waste time trying to input a new 7 digit all over again)
- It could be that both bidders are almost at the end of their biddable limit so increasing by 0.01 SWC do make sense. It is not wise to spend a few sec to input a totally new 7 digit figure when your opponent only need a sec or less to out bid you by 0.01SWC
I have previously tried to bid at the Auction after the removal of Marathon reward. It was a miracle when the marathon reward reappearing on my screen again so I took the easier and guaranteed way out instead of trying my luck on a ‘‘possibly bigger but uncertain’’ prize
Having said all this, imagine if I am the 1st runner up with the same bid amount as the winner … Grrrrr … I will be damn bloody piss off …
Many real life auctions only take bids in sensible increments, and I think the sweatcoin auctions would be better if they did the same.
For example, my local auction house takes bids in £1 increments up to £5, £2 increments up to £20, £5 increments up to £50, and so on. At the £20,000 mark it would be taking bids in £500 increments.
For people losing an auction, it is much nicer to be beaten by someone who outbids to you properly, rather than someone who sneaks in an extra sweatcoin in the last seconds of the auction.
This is a great suggestion but the increment need to be tuned. I estimate the current top few bidders might only have a diff of maybe around 200-300 SWC to out bid each other. So maybe each bid with increment of 10 SWC might be better instead of the current 0.01SWC.
Actually the problem with this SWC bidding is that SWC must be self earned and this really restrict the bids between members as all those with 20k SWC previously would have cash out from the Marathon reward. And those left over after the removal of marathon reward are all under 20k or at most slightly over 20k. The amount a member can earn daily is also very much predictable except other than the 3x daily bonus
The ending time of every current bid is always past midnight for my area (around 4am at my time zone) As it is a global competition, a moving Auction with ending time push back every 4 to 6 hours after each Auction will be fairer for players of diff time zone. Having a smaller diff in the payout amount for all Auctions (eg +/- $250 max) might be fairer for all too. Just my 5 cent input
From game theory it is still not reasonable.
Let’s assume they are close to their limit which might make sense.
Why than dangle around with these little step ups. Simply wait for final hour put the maximum amount you have in stock and see if it is sufficient or not. Why risking to be outbidded in the heat of the final minutes only to safe a few hundred coins???
This is an odd issue - it shouldn’t be possible as far as I know.
I’m talking with the developers now to try and find out what’s happened, and how to avoid it!
I always think guatam just drives the price up. I
Messaged asking him why and he only bids what he believes is worth the bid… I agree though @Phatt.One seems a bit far fetched how a lot of these users have zero following but yet have a lot of followers. I know if you place a bid you usually get people following you. I have 155 people who follow me. I know one of them personally. Barring that… none lol. Yes I’m on 16K coins also finding it hard to even hold a bid in place for more then a hour… I personally think… it’s going to be a bidding war day in day out for the foreseeable future. We should still have marathon offers wether it be 500£/1000£. We need marathon offers back alongside auctions… @Ashton I asked you a question the other day about auctions. Would of been nice for a reply… now I have your attention. The gift cards in $ I am a uk user so will I receive a £1000/500£ gift card or will I receive a 500$/1000$. As you know. $ is weaker then £. So ideally if I won a gift card I would want £. So is there a choice.
It’s gonna be a pain in the arse if i tried because all the auctions ends at bloody 3am
It’s either pulling an all nighter to try playing out the other sneaky guy or outbid them by a crazy amount(which is virtually impossible considering how many people has more sweatcoins than me, 0.01 and it’s an outbid, if they didn’t bother outbidding me then i just shot myself in the leg, remember that guy who bought the 250 dollar speaker for 14k, nice deals are only at the 22k mark)
So i think imma just pass on it and aim for the 1k dollars
The best part: auctions not available for influencers, how cool is that
U will get the $ converted to £, so $1000 worked out ££750 gift card
Still though… Emma told me that marathon offer was 1000$ and told me I would get 1000£ lol.