BeLoBi Reverse Auction is a reverse auction based on the rules of lowest unique bid. Every new user gets 50 belobiPOINTS at first login and to each Active BeLoBi member is given 1 belobiPOINT per day. These belobiPOINTS are to be consumed when a bid guess is placed for each Auction items. All bid amounts are in belobiPOINTS and with two decimal accuracy.
BelobiPOINTS can be purchased for BitCoins through http://www.belobi.com after login. All bids are kept secret during the course of auctions. When auctions close, the single lowest unique bidder will be the auction winner and he/she will have the right to buy the item at winning bid price.
The sole owner of BeLoBi system is Belobi Team
All items including but not limited to user interface, design, artwork and system Copyright 2014