FAQ – Frequently Asked Questions

We’ve got a multi-pronged marketing and business development strategy; as you can imagine we feel it wise to leverage our right to a mild degree of secrecy on this answer.

With that said, we’re targeting several markets simultaneously, being the e-commerce auction market as well as the high-end, luxury auction market. One requires traditional advertising and brand development efforts, where the other will require a good old fashioned, face to face business development and relationship building effort.

Eventually, you’ll find government contracts, union work, fine art, cars and real-estate all moving from one owner to another in the non-custodial auction framework we’re developing.

The simple answer is, it’s an illusion that it’s short(er). That means we’ve been effective in our design approach.

The White Paper we’ve designed in “Magazine Format so it’s easily palatable, one can harvest the information very efficiently, in a potent and poignant delivery.

Additionally, each page scrolls deep, it’s the same amount of content, just our 9 pages are 4 to 5 times longer than a .pdf page, while being laid out with color and form.

We’ve not invented a blockchain, so have no claim to the deep math and science that would take further pages to explain; we’ve combined both pre-existing blockchains, oracle-inputs as well as fused hardware sensors, this is what we have uniquely done and are able to lay claim to, able to talk about.

To that point, we have multiple patent filings underway, and are confident in our knowledge of the space we’re disrupting, and that our chosen technical architecture and business strategy is highly refined and having the highest chances of success.

We CLEARLY PROVE with EVIDENCE in our White Paper, that there are CLEAR MARKET PROBLEMS for parties on BOTH sides of auctions, and we CLEARLY DISPLAY the technical architecture and it’s value to parties on BOTH sides of auctions.

If you have the time, energy, interest or bravery, please challenge our technology or business strategy on a live stream Q&A: nick@bidcoins.io

You use our Native Stellar token called $BID. With these, you can set up your auction, and add item(s) which you intent to transfer ownership of to the highest bidder.

When you use BidCoins.io’s Auction DApp, a wallet will be created for you, there, you will load Stellar Lumens ($XLM), and then you can get $BID tokens with those Stellar Lumens.

Really anything; a government contract or contract for Union work, art, fashion items, jewelry, cars, collectibles, antiquities, electronics and more.

Yes, each item listed on the auction that can be bid on, will require our utility ($BID), a native Stellar token, to be used in order to add items.

Well, the auction/smart contract creator, controls upfront how the auction will function (ie. set’s entry and/or participation conditions if desired), then, the smart contract is able to self-execute from it’s home on the Stellar blockchain which is a public distributed ledger; here, the auction/smart contract is in the control of those who are satisfactorily interacting with it.

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