Web auction business.

A web auction is when a consumer or business lists an item or service on the Internet for sale to the public.

Penny auction web
A bidding fee auction, also called a penny auction, is a type of all-pay auction in which all participants must pay a non-refundable fee to place each small incremental bid.
The auction ends after a period of time, typically ten to twenty seconds, without new bids; the last participant to have placed a bid wins the item and also pays the final bid price, which may be significantly lower than the retail price of the item.

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Dividends from earnings (fees from Web auction bussines and Penny auction) will be distributed to the holders of Chronos.
To get a share you will have to own at least 0.5% of total supply. (CRX)
2 shares will represent 1% of total supply. It means 200 shares are 100 % of supply.

example:
Web will earn 1 BTC from fees. (x day frame)
1 BTC / 200 shares  = 1 share will get 0.005 BTC (in this time frame)

Dividents will be distributed via blockchain. Every wallet keeping more than 0.5% of total supply will get a share.

***Penny Auction Basics
Penny auction sites list items for auction starting at $0.01 and a count down timer.
Each time someone bids on the item, the items price is increased by one penny and 5-10 seconds are added to the count down timer.
When the count down timer reaches zero the auction ends.  The last person to bid wins the opportunity to purchase the item at it’s auctioned price off price (usually a huge savings).
You win if you are the last bidder and the clock reaches zero.

Penny auctions sites from the bidder perspective (average Joe).

To bid on an auction, you must purchase bids.  Bids usually cost between $0.50 and $1 per bid.
Your goal is to win an auction spending as few bids as possible.

We can use crypto for it. For example put 1 BTC in penny auction . And start at one cent.

Penny auction update

Penny Auction is Alive

Deposits via BTC and any major crypto (+CRX) are enabled .
(BTC, LTC, ETH, ETC, FTH, DASH, CLOAK, BLK, LISK, NMC, NVC, PPC)

Deposits via credit cards + paypayl will be enabled next week.
(I´m in the middle of creating a company (legal entity).
It will take 4-7 days (bussiness) in my country.)

IFees:

If you will run an auction, you will have to pay 2 % fee from bids you collected
To submit a penny auction, register on our web (http://pennyauction.click/) (and clik on +add auction)

1.5% will go to CRX holders (all funds will be exchanged (on market) in CRX and send to holders).
0.5% will stay for auction site (promotion staff)

Example:

Auction for 0.1 BTC.
If it will end on 2.00 USD, it means 100 bids… 100 – 2% = 98 USD for seller.
(one bid will cost 0.5 USD)

How to recieve share from pennyauction.click

To get a share you will have to own at least 0.5% of CRX total supply. (one address)
2 shares will represent 1% of total supply. It means 200 shares are 100 % of supply.
(dividends will be send every time when they reach  1 BTC)