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Bido's latest feature - get free stuff!

While I'm not sure how many spots are left, Bido is giving away free credits (more on these in a minute) to the first 100 people that tweet what the best deal was on Bido for October. If you want a free Bido Credit, post a Tweet in the following format:
<your bido nickname> says <the name that sold> for <the closing price> was the best deal @bido in October - followed by the link to the Auction.

So for example, my tweet would say:
theoretical says NassauFlights.com for $101 was the best deal @bido in October http://www.bido.com/Auction?name=nassauflights.com

For a full list of sales in October, click here.
That's it. Your bido account will get the free credit which you can use one of two ways:

- Accelerate your domain to auction. This means that you can submit a name to Bido and use your credit to bypass the process of having to wait for community votes. If your name is really good though, it doesn't hurt to wait a few days to see if you get enough votes the "natural" way - by letting Bido members vote on your name.
- You can use the credit to set a reserve price for your auction. This is new and it's huge. Each credit you spend on your auction gives you a cap of $1000 in reserve price. So if you spend your 1 free credit, you can set your reserve price at say $900. If you use 3 credits, you can set a reserve price of, say, $2500. Don't feel like you have to use the whole $1000, as you want to use a fair and attractive reserve in order to get bidders bidding. Also, there's a cap of 10 credits for a single auction, so for just 10 credits you can set whatever reserve you want.

Why is this important - you could set a reserve for Bido auctions before, right? Well, the key here is price and ease of use. For a few bucks you can now use Bido to list your high three and four figure domain names. If the name sells, you get your credits back! If the name doesn't reach your reserve, you still have the option to take the highest bid. The whole process is much cheaper than the fees that were imposed before, which was a minimum of $30 bucks or %3 of your reserve price, whichever was greater. That meant that it wasn't practical to list high mid to high figure names before and no one would ever consider listing five figure names because the price of failure was too high.

Now, bringing in a reasonable way to have fairly priced reserve auctions into Bido isn't a panacea. There are still issues. But it may very well solve the biggest issue, which is the lack of high quality names available on the platform. The saying "a rising tide lifts all boats" is quite appropriate. I'm excited about the change and I'm ready to start spending my credits. What names are you going to list? Talk back at http://twitter.com/UtterDomain

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