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      "author": "ohenrik",
      "body": "@@ -685,7 +685,4 @@\n you?\n- ;)\n",
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      "parent_author": "adlk",
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{
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      "author": "ohenrik",
      "body": "@@ -1,8 +1,113 @@\n+https://1.bp.blogspot.com/-9PTwi-owzlk/Uqg9cbbDIZI/AAAAAAAAGqc/3G8VWTWQRcA/s1600/Chi+chi+van+raisin.png%0A%0A\n I recent\n",
      "json_metadata": "{\"tags\":[\"cryptocurrency\",\"blockchain\",\"economics\",\"economy\",\"altcoin\"],\"links\":[\"https://ens.domains/\",\"https://www.wikiwand.com/en/First-price_sealed-bid_auction\",\"https://www.wikiwand.com/en/Vickrey_auction\",\"https://www.wikiwand.com/en/Attribute_substitution\",\"https://www.ted.com/talks/dan_gilbert_researches_happiness/transcript\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\",\"image\":[\"https://1.bp.blogspot.com/-9PTwi-owzlk/Uqg9cbbDIZI/AAAAAAAAGqc/3G8VWTWQRcA/s1600/Chi+chi+van+raisin.png\"]}",
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      "parent_permlink": "cryptocurrency",
      "permlink": "the-problem-of-appraising-the-value-of-you-own-name-and-eth-domain-snipers",
      "title": "The problem of appraising the value of you own name (and .eth domain snipers)"
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      "author": "ohenrik",
      "body": "No you need to buy ether first and transfer it to your wallet, and then pay the amount to the contract to start the auction. A small amount is used to pay for the transaction and the rest is locked down as long as you hold the domain (aka. can be recovered if you give up the name).\n\nHowever be aware that the domain sniper i was up against had bid 400 USD. You might be luckier though if the domain snipers does not suspect that your domain is in fact a surname. As some domain registrars also starts decoy auctions.\n\nAlso if it is not that important to you, you could take a gamle on a lower price. But again how much is that domain really worth to you? Is it actually important to you? ;)",
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      "author": "adlk",
      "body": "@@ -118,8 +118,138 @@\n  dollars\n+%0A%0Abut how it works? i made a bid but i just installed that plugin for chrome and there is no eth at all. Does the bid still count?\n",
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      "author": "adlk",
      "body": "the problem is that next week can come 10 more services like this with domain .ether or .ethereum\nso at the moment 10 dollars",
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      "author": "ohenrik",
      "body": "@@ -1,46 +1,5 @@\n-That was what i thought as well. However b\n+B\n ecau\n@@ -68,16 +68,110 @@\n help you\n+, they simply see that something that seems like a surname is being registered and bids for it\n . I thou\n",
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      "author": "ohenrik",
      "body": "@@ -68,16 +68,17 @@\n  snipers\n+,\n  having \n",
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      "body": "That was what i thought as well. However because of the domain name snipers having a rare surname does not help you. I though exactly the same as you and lost because of it (aka. i was unexperienced). If you had a second chance, how much would you bid?",
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      "body": "@@ -2245,21 +2245,16 @@\n surname \n-name \n worth to\n",
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      "body": "I recently tried to purchase my surname as a domain name for ethereum adresses.\n\nIf you don't know what I'm talking about read this:\nhttps://ens.domains/\n\n## The system works like this\n1. Some one starts an auction for a domain name. For example steem.eth\n\n2. The auction is then open and any one can bid. Min bid is 0.01 ether.\n\n3. After some time (5 days i think) you need to reveal how much you bid. If you are the highest bidder that reveals his bid after the reveal time ends. you have won. However you will only have to \"pay\" (lock up) a value equal to the second highest bidder. \n\n4. Claim your domain (if you won).\n\nThis is essentially a sealed-bid second-price auction which is by many considered a fair form of auction because in theory it should naturally incentivise people to bid the maximum price they are willing to pay for an item. Hence giving the item to the seller who values it the most. [Read more about it here](https://www.wikiwand.com/en/First-price_sealed-bid_auction), and about [second price auction here](https://www.wikiwand.com/en/Vickrey_auction)\n\n## The problem\n\nThe problem was that there are some people who listens to new domain name auctions and then bids a high price, in hopes to sell the domain to the original bidder with a profit (domains snipers). \n\nWhen i complained about this the (rational) response was that i should have bid my true value, meaning the max amount i would be willing to pay for that domain. And i would not have been unhappy. Fair enough but... \n\n### Is it that simple?\n\n1. People in general are unexperienced with this form of auction and do not follow the implied rules that makes sealed-bid second-price auctions fair. Hence they act irrationally and start auctions with the minimum amount required (0.01 eth).\n    * Proposed solution here is to educate people, however i still think a substantial amount of people will not take the time to understand the concepts of sealed-bid second-price auction.\n\n\n2. Appraising the value of your surname is hard. Domain names are for convenience, they make addresses easier to remember. In some business cases that value is fairly easy to determine: \"how much revenue can i expect to gain from having a good name\". However how much is your surname name worth to you? There is often no direct value generated by it. So what remains is how much you would like the future convenience of owning that shortcut? This is a really hard question to answer without a reference point (at least for me).\n\n3. Domain snipers listens on domains that people have already indicated value for (by opening an auction) and exploit the fact that people are unexperienced with both this form of auction and how much they truly value their surname. Only after losing the auction realising their true value is much higher. \n\nYes, what we should be thinking is: **how much is my surname worth to me**, but because or brain can't handle such an abstract problem we switch it to a simpler one: **How little can i get away with paying**. [The concept is explained here](https://www.wikiwand.com/en/Attribute_substitution)\n\n[Also an interesting similar problem in regards to appraising how much something is worth to us in the future](https://www.ted.com/talks/dan_gilbert_researches_happiness/transcript). This applies here because you will have the domain for at least a year, and maybe more.\n\nI'm curious to hear what you would pay for their surname as a .eth domain. So please comment!  (NB: Try not to see what other people have answered before you give your answer).",
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      "author": "davidmccauley",
      "body": "Welcome! Gave you a follow!",
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      "author": "stanley888",
      "body": "Hello @ohenrik welcome to Steemit . Maybe your post may not immediately get a lot of upvoted but I  believe your continued hard work and effort will makes you success. Follow me @stanley888 Thank you",
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      "author": "thauerbyi",
      "body": "Welcome :)!\n\n![sup.gif](https://steemitimages.com/DQmY1MYpY8yikhnP9Qpyp873xECTVKnYRAD7tuZFfjM4AqV/sup.gif)\n\nHere a few tips for starters snce you probably won't get any advice from those who comment under here, here's what I gathered thus far.\nIt's tough to make money at first so if that's your main cause to be on here grind that into your head straight away, that doesn't mean you shouldn't post content, you should, but enganging with others in the comment sections to grow your following is your best bet. Which categories?\n\nProbably the introduce yourself one and the photography section but you can choose things that you have knowledge about too and then go from there just know that there is a lot of crap on here so plowing through that just to connect with others can be tough. Cheers.",
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      "author": "kingbach",
      "body": "Hey @ohenrik, Welcome to the steemit community. This link should get you started https://steemit.com/steemit/@thecryptofiend/how-to-get-noticed-if-you-are-a-new-user-on-steemit.\n\nFeel free to ask me any question you have. I would love to help if i can.\n\nWould be super happy if you follow me @kingbach I follow back. We can grow together. Thank you",
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      "author": "vlone99",
      "body": "Nice to meet you, @ohenrik! Welcome to the Steemit Community, wish you good luck and a good start, ive send you a small tip and followed you, hope you have an amazing day! :)",
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      "author": "manish22rai",
      "body": "Hey ! Welcome to Steemit, I hope you will have lots of fun interacting with the community. Have a great time n do follow me @manish22rai ....Cheers !!",
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