BuildTeam would like to announce that we are now taking bids for the October pot ...
The October 2017 BuildToken General Fund is :
4000 STEEM!!!
Bidding commenced at 00:00 UTC October 3rd, 2017 and will close at 23:59 UTC on October 5th, 2017.
To participate in the bidding process, you will need to get your hands on some BUILDTEAM tokens. If you haven't got some yet check out this handy video tutorial from @velimir and @techblogger:
How is the pot distributed?
The pot is distributed proportionately among the bidders according to how many tokens each participant has bid. There is no minimum or maximum bid. Assuming two participants, if you bid 1 token and the other participant bids 9, you will get 10% of the pot.
What's the best bidding strategy?
The more tokens each person bids, the less STEEM there is to pay out per token. The bidding "game" is designed to be co-operative, rather than competitive. If you start trying to "win" by outbidding other participants, you won't just be damaging the group, you will be damaging your own interests too!
Bidding Process
Step One
If you already have a Bitshares wallet and BUILDTEAM tokens, you can skip straight to Step 4, otherwise you should create a Bitshares wallet here: https://bitshares.openledger.info/?r=buildteam
Also, consider downloading the Bitshares desktop wallet for a more secure way to transact. The wallet can be downloaded here: https://bitshares.org/download/
Step Two
Fund your Bitshares DEX account with some Bitshares tokens. You can buy Bitshares at Bittrex, or use STEEM or SBD to buy Bitshares at blocktrades.us
Step Three
Click on the following link to go directly to the BuildTeam exchange on Bitshares DEX:
https://openledger.io/market/BUILDTEAM_BTS
Use the 'Buy' panel to purchase the desired quantity of BuildTeam tokens.
Step Four
After the bidding process has begun, make your bid by clicking on the 'Send' tab in the top right corner of the exchange window.
It will take you to the screen below:
Send the quantity of BuildTeam Tokens you would like to bid and place your Steemit account name in the 'MEMO' field. Remember to keep some BTS tokens in your account and select them for the transfer fee option as this is a much cheaper way to transact.
Additional bids can be made following these same instructions up until the deadline period.
Tracking Bids
BuildTeam is proud to present you with this opportunity to share in our success. We want this process to be as transparent as possible. You can see the current bids on the October 2017 tab in this google sheet, but be aware that we fill this in manually. In addition you can see the latest transfers on cryptofresh, at OpenLedger or, if you are using the desktop client, simply click the gear icon -> explore -> accounts, enter buildteam and click the account name to view the latest transactions.
Make sure you keep track of the number of bids made and the quantity of STEEM offered in the monthly pot before making your bids.
If you have any questions head over to the MinnowBooster discord channel and contact either @tech-trends, @furious-one or @locke.
Good luck!
This is an awesome example of how the Bitshares decentralized exchange is enabling real businesses to be built on the blockchain - not scammy shitcoin ICO pump and dumps like most of the top 20 on CMC. You guys are doing great work and I'll be buying you on the DEX!
Thank you @johnsmith, we are really proud of what @buildteam could already achieve and it would not be possible without steem and bitshares. This is the future of blockchain and we are looking forward to it.
Thank you for showing us what works.
Nice one guys, i participated in the first bidding process in August and made some pretty nice profits on my invested BT. I'm in for this month guys.
how much is a buildteam token worth?
Currently 22BTS on the market.
Ah okay thanks
Check out this website for more detailed info: https://cryptofresh.com/a/BUILDTEAM
Nice, but what's the purpose behind bidding for Steem? Is it to increase awareness of Buildteam tokens?
This is the way we pay salaries. All our team members get BUILDTEAM tokens and each month we share a part of our profits with token holders. And as a non team member you can buy tokens on the market and participate in the bidding. So the reason is getting a profit.
This is HUGE .... I'll be there in the bidding
I will also be there
Thank you for clarifying the non-competitive bidding process. I stayed out of last months bid because again, another pure arsehole sought to grab the pot for themselves.
Yet, if everyone bids around the same, and under 100 we all win and get more bang for our buck.
If Señor dickhead had refrained from bidding nearly 400 on the last pot we would have seen the coin price rise significantly.
That is the twist with this coin :I Should there be anything @buildteam can do to improve the bidding process, please give us feedback.
I have actually given this a lot of thought over the last two months but I think you're doing it well. If you shove a roof on the auction then you're essentially preventing growth (in my eyes) - I'm just annoyed that people are sacrificing long term gain for short term profit. I'll get over it! I'm just grumpy lol
Alright, thank you for the feedback :)
Nice one guys👌👌👌👌 i participated in the first bidding process in August 👌👌👌👌and made some pretty nice profits on my invested BT. 💐💐💐
I can only recommend everyone to get some BT Tokens and participate in the Bidding. The returns are just too good to be missed ;)
How long does it take to double up
exactly it's once in a month opportunity to double or triple your money
It seems I should start buying buildteam token as early as possible. They are getting more and more expensive! But isn't it risky to send these premium tokens for bidding and we might end up getting less equivalent steem. I am a minnow and I just want to be sure!
if you look at the google sheets you'll notice that the pot size increased every month which reduced the chances of loss ... therefore it is less risky
Holy cow! pot is gettin increased with every auction 🤓
Nice post 👍
Thanks for sharing and and very useful information
I don't think that I'll make money from today's bidding.
I bought my buildteam coins at 24 BTS while steem was going for 16 BTS (3rd Oct, 16h) ( 1.5 Steem per buildteam coin)
As of 10/4/2017, 7:11:45 PM UTC - 3101.32 coins ware sent.
On a 4000 Steem pot, that is 1.29 Steem per coin...
Yea seems that people didn't look into the sheet. ...now it's a lose situation for everyone. :(
I love this brilliant token buildteam idea that lays out a concrete example of decentralized Bitshares exchanges in real business, I praise your work, You guys have really done a great job and I'm going to DEX soon!
interesting once your post, makes me motivated to follow what you describe, a very valuable token.
Thanks @buildteam
Hola, si alguien necesita ayuda en español pueden visitar este post! Hago una explicación un tanto sencilla de como acceder a el pozo de este mes :)
https://steemit.com/spanish/@carlosd15/como-ofertar-ganar-steem-con-buildteam
This token looks really interesting...
Great. This is the first time that I am participating. There is a lot of firsts for me at Steemit. Hope that others will not overbid and everybody gain. Guys let us go for win-win.
Best wishes.
Simple and great post.
Dear @buildteam I have invested 50 Steem to your Bidding,
ohamdache123 37.69 𝔹𝕋 1.08% 43.26STEEM
So now i can see the my reward will be 43 Steem!! so i'm loosing 7Steem, how is that even to be profitable! It doesn't make sense!
Please make some Bonus for all, At least to cover our principle.
Can someone from @buildteam please take this into consideration so that we don't lose money.
The issue is became worse.. @positivesteem
ohamdache123 37.69 𝔹𝕋 0.94% 37.69 STEEM
My investment: 50 Steem - 37.69 = 12.31 Steem I'm loosing!!
Please Anyone from @buildteam explain!
Rather than we will earn from this Bidding, we are loosing our money.
We are requesting the loosing amount for each individual or to give Bonus for all people investing in BuildTeam Token And sent to you.
It was a bet against the number of bidders, the bidding system works as they explained and the rules were clearly written. So yeah too many people got involved and the "shares" were diluted. Hope you didn't go in too heavily. I'm losing some money too.
Nice!
If you guys have not looked at the spreadsheet that they have put up for review, it is a terrific resource to gauge your bid.
Like they say, it is done manually, so as of my last check, did not reflect the 360 BT bid, or a couple of other 100 BT bids that have come in along with a few smaller ones. But the sheet does list how much Steem each person would get if there was no more bidding. So you can pretty easily slot yourself in and figure out approximate return.
This is pretty amazing! Who else lets you see your return before you commit?
I love idea buildteam token it.
Do you provide a breakdown of where the 4000 STEEM came from? Also what is the gross income and expenses?
In the end it is all on the blockchain, but we have not yet written a tool that compiles this into a sheet for example. At the end of each month we put out a share of the earnings into the pot. I think transparency will improve even more once SMT are available.
I think this is a revolving door. They sell the tokens to generate the pot and then, you give the tokens back and they sell them again next month... the reason why the pot goes up is because the value of the token goes up, and the reason why the value of the token goes up is because of demand from people wanting to buy more tokens.
so kinda like a pyramid scheme.
No. This isnt how it works at all... Buildteam generates revenue from its various services. Minnowbooster and Steemvoter are two of its revenue producing platforms. Profits come from its services and then are used to support the value of the BT token. So sort of like a real business rather than a pyramid scheme.
Thank you @spinbot!
Not exactly. The profit generated is real profit, not from selling tokens (what we do not do) but from earnings from our services. The tokens we give out are a kind of salary to our team. And they are allowed to sell them or use them to bid in the pot.
sure, every crypto currency can be called a pyramid scheme. What is steem? I token you buy and invest so more gets generated so you invest more. Kinda like a pyramid scheme.
Buildteam is great. I just doubled my investment even without bidding yet. Bought some BT when it was going for 13bts, now its going for 26.1bts. Fantastic.
I still plan to bid though :)
that would make it 4x
Already a member of Minnowbooster Discord Channel. This seems to be a great opportunity. Also many thanks to you for being transparent enough so that we can totally rely on you. Will surely try to seize the opportunity and spread a word. Good luck @buildteam
Please have a look @bunnychum @honeychum
Great . This is Awesome. I'll be there in the bidding
i like this post
Looks really good,, i hope to participate in the bidding
Yeah.. See you there :)
Please can i convert my Beyondbits tokens into Buildteam Token?
I heard you and placed an order on the market. Yo can sell me your BEYONDBIT :)
i am having troubles accessing my wallet there, its telling me wrong password since their servers went down few weeks back.....i really want to per-take in the Buildteam bidding
Yes first convert BeyondBits to Bitshares and then you can buy Buildteam with the available Bitshares
Dead feed
Great information
Wonderful post.thanks
Wow amazing
Sounds like a very interesting event.
maybe i will give it a try
Interesting stuff posted on Bidding Process
tokens tokens everywhere !!
this sounds awesome. I love idea behind it. :-)
great information...
Nice 1 !!!
I will try this one, but i need more ideas on how to do it. reading reading!
Join our discord server and we will gladly guide you :)
I like your post. I have followed you. Please follow me @teukurahmatpolem
Nice one sir
Hoe much is the worth of buildteam token ?
currently trading at 26.2 BTS
Sounds great! I want to know more about it.
Nice post.
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STOPGood share. I am looking for any bitshare article since i am planning invest on it
It is a great
I don't know about that...