We've just launched http://www.blockrun.com http://www.blockrun.com , a play on penny auctions built on top on the blockchain. - Each auction has its own bid a

We've just launched http://www.blockrun.com http://www.blockrun.com , a play on penny auctions built on top on the blockchain. - Each auction has its own bid address - Auctions last for a certain number of blocks - When blocks reach 0, each new bid extends the auction by 3 blocks - There needs to be 3 empty blocks for a winner to be declared (no bids for 3 consecutive blocks released by the Bitcoin network) - The highest bid wins (we send winning, and losing transactions when you have been outbid) - Winner creates a signed message to confirm they own the winning Bitcoin address How it works: http://www.blockrun.com/how_it_works http://www.blockrun.com/how_it_works FAQ: http://www.blockrun.com/faq http://www.blockrun.com/faq Auction for 5 coins: http://www.blockrun.com/auctions/5-bitcoins http://www.blockrun.com/auctions/5-bitcoins We're always looking to improve, so if anyone has any feedback (e.g. "WTF is this, how does it work??), or thoughts are much appreciated :-)