theymos leads with 95 BTC.

I may be anal here, but the bid should include the signature of my initial message, so that we know which auction we're talking about.

Basically a bid could look like this:

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

XX BTC
> -----BEGIN PGP SIGNATURE-----
> Version: GnuPG v1.4.11 (GNU/Linux)
>
> iEYEARECAAYFAk2UNq0ACgkQq17371C4DmhQIQCg86UwjCUt0q8iyojsOXUI7juB
> BpsAn2UtxuFqtXpLPwedvnYap+m2wrx9
> =qC0c
> -----END PGP SIGNATURE-----

-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (GNU/Linux)

iEYEARECAAYFAk2Uc8EACgkQq17371C4DmhXSQCdGnXrJG6/4cA411b6lkXwX5Uc
LL8AnjuQGKNmI6LEbHpYAPca8P/GMqKL
=btiF
-----END PGP SIGNATURE-----


But I'm not sure it is really important.  It's not related to the bond process, but to the auction process anyway.  I don't think we would need it if we were on biddingpond, for instance.

I'm not sure the timestamping in a GnuPG signature is trustworthy.  If it was, the bitcoin network would use it instead of a distributed time server.


Anyway, now that I think about it, signing bids is not necessary.  It is really an auction protocol issue.  Here the proof of concept is about bonds, not forum auctions.

What has to be signed is my promess to pay.  So once I get a bitcoin address from the auction winner, I'll sign it along with the bonds terms, and that will be all.

Well, I'll be the first in bitcoin history to actually "do" it 

I wonder if this will become the standard for Bitcoin loans. This seems a lot simpler than establishing some obscure interest rate.

I think it's a standard procedure in bond markets.

OK, your auction, your rules but if you want to set up a bitcoin bond standard, such rules are rather bizarre in any bond market.  Bonds usually have 2 days settlement and the bond duration starts at settlement, not the auction time.

95.6 bid

Vladimir leads at 95.61

95.63