Cryptocurrency Q&A
What is shill bidding?
What is shill bidding?
Lucia
Thu Nov 14 2024
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6 answers
910
I recently encountered the term 'shill bidding' and I'm not quite sure what it means. Could someone explain to me what shill bidding is, and possibly provide some context or examples to help me understand it better?
6 answers
Alessandro
Sat Nov 16 2024
Shill bidding represents a deceptive practice where a seller artificially inflates the final price of an auction.
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emma_anderson_scientist
Sat Nov 16 2024
This is achieved through intentionally fake bids placed on the seller's own auction.
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Michele
Sat Nov 16 2024
The seller can either execute these fake bids personally or involve another person in collusion.
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CryptoPioneer
Sat Nov 16 2024
The purpose of shill bidding is to create a false sense of demand and drive up the auction price.
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BlockchainBaronessGuard
Fri Nov 15 2024
By placing fake bids, the seller aims to attract more genuine bidders and push the final price higher.
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