Hey guys!
Xat have decided to do something very different today. Earlier this month, xat made an ID Auction. That has been influenced for them to something similar ...
**IMPORTANT NOTICE**
You must read this post in order to understand every form of information you need to know...!
Yes, it's a good thing if you've read above, because xat have changed the power releases again. This time, however, it's completely different!
What's changed?
Xat are now doing Auctions for 7 and 8 digit ID's. However, they have decided to do the same for power releases. The first power that they're going to do this on is Power 181 which was earlier confirmed as KBEE ...
Step 1: 42 decided to test out the 'Power Auction' and put this on at around 5.45-6pm GMT. The testing was also required for the ID's that happened at the beginning of May!
Note: The name of the Auction is called a Uniform Price Auction . You can search it on Wikipedia !
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| NOTE: Unlike with the Auction for the ID's, with this Auction you can place a bid of a minimum of 10 xats! | | |
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Update: 42 has announced that he is going to release KBEE's Auction now...
Step 2: 42 has now announced that the real Auction for KBEE has begun. In other words, the power has been released at 6pm GMT ...
An image of what the Auction looks like is shown below... (with full guide explaining every feature)
8000 released where you only have 24 hours to place a bid until the Auction stops and the complications take place ... (KBEE is a limited power)
Below it will show you how to Bid for the following Power ...
How to bid...
Step 1: Type in your xat username and password for that chosen account ...
Step 2: Confirm how many powers you'd like. (80 maximum)
Step 3: Type your bid in (How much you're willing to pay)
NOTE: With many users like me confused on how the new Power Auction will work, Brian tried to explain to us how it works ...
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| Attempted Explanation: I was trying to explain to users how it works, and Brian told me I had been correct with that fact ... |
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| Trying to Answer: Leo is trying to understand what happens when he bids for the ID, and Brian is telling him that he has to wait 24 hours until the Auction for KBEE ends ... |
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| HUSH TIME: Brian is forced to Hush the chat in order to explain clearly to all the users on the chat how the Auction is going to work out! |
If you can see above , Brian says that everyone will pay the lowest price at the end of the Auction, as well as the bidder who put in the highest. This is hard to understand, so I'll explain more of it further down the post ...
Brian is saying that everyone will have to pay the lowest price, which is currently and probably will be 10 xats . But the question is, how is the Auction going to help xat profit from the previous release system?
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| Joking around: Charlie is saying he would buy all the KBEE's that were released for Auction (he has enough xats) but Brian says that 80 is maximum as you saw when I explained the Auction features above! |
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| Confused: Even Brian is confused with how the Auction is going to take place! I guess it's really getting in the negative areas! |
Update: At around 8-8.30pm GMT xat put KBEE up into the Power store ...
As you can see, it says that you have to buy it at the Auction, with the following link to go there...!
Update: It's now Sunday morning for me, so let's take an updated look at the Auction...
Holy sugar, the highest bid is 97,500 xats for the KBEE power! Now that's what I call desperate! There are a total of 8124 different bids for the power, with the minimum still staying at 10 xats ...
Good things about the Auction ...
- Xat can make more money out of this process.
- If the Auction works off well, many users will be able to purchase the new power for a cheap total of 10 xats and profit alot, something which has never happened in the history of xat before!
- You can buy up to x80 of the same power, which before you were only able to buy a maximum of 5!
Good things about the Auction ...
- Users can / will get carried away with the Auction, like you can see above, someone posted a bid of almost 100,000 xats! (another thing which has never happened before in the xat history)
- 42 can lose more money / profit in this process than the other one, depending on how much the power has been sold for ...
- Many users may lose alot of xats, as the demand is very high and you cannot purchase the power until the Auction is over
- Many negative comments means that hardly anyone may use the Auction in the near future, and we won't be seeing many limited powers for the next few weeks!
NOTE: The auction is going to finish at 6-6.30pm GMT , 24 hours after from when it first began!
If you would like to enter the Auction and place a bid for KBEE , then please
BENEFITS FOR XAT USERS: I may be making a banner which will direct you straight to the Power Auction in June (next month) if this process stays with us on xat!
USEFUL: Brian has also posted more information about the Auction and how it works on the xat Wikipedia , where I will explain it simpler to you later on!
Alright then, I guess that's all the information that you need to know! What do you think of the Auction? I really don't like it, I think it's going to take alot of xats away from users, when you could buy it for only 150 xats on Trade most likely! What do you think? Do you prefer the old releases, or do we just need to get used to it?
Leave a comment and let me know what you all think of the Auction!
NOTE: If you have any more problems , issues , glitches , questions about the new Power Auction, please Leave a comment below and I will try and answer as many questions as possible! Also, we'll make a new poll later today and you can express your opinions!
