Hi, thanks for the detailed explanation. I though I did understand the token sales auction but I miss totally a step. I hope that you can tell me what I do wrong so that I can learn this for the next time
Example:
The amm was
0.001 - 1K
0.0011 - 1K
0.00121 - 1K
0.001331 - 1K
0.001464 - 1k
0.001611 - 1 k
0.001772 - 1k
0.001949 - 1k
0.002144 - 1k
initial bids were
person a , 0.001 for 3K coins
person b, 0.011 for 1K
person c, 0.001256 for 6K
person d, 0.001946 for 3K
According to your description, my thoughts
I will bid with 0.002144 for 8k
There were no other bids so, With my highest bit I can fill every sell from the AMM
But this was not happening
Results:
I got only 2k for a price of 0.002144.
What am I doing wrong because I do not get the picture at all. If you look at the recent sell trades of the AMM for user btcabi, most of them are for the price 0.0022
I do not get it at all
Thank you so much already !!
I agree, and access to the internet back then was much more challenging for many people than accessing Bitcoin is today.