I am new to bitcoin programming, and want to build some apps to get more familiar with it.
What I am curious is, how could I implement a basic auction site.
I want to make it as automated as possible. So, the basic process would be:
There would be a countdown for the bidding. Users can then send bitcoins to me (or say they will pay that amount?)
The person that has said they will pay the most at the end wins and everyone else gets their bitcoins back.
Some things that worry me:
I want it to be secure. Ideally, to bid I don't have to store all of your bitcoins on my server while the auction is on, but I still want to make sure you have the amount needed to bid. Is that possible? One way, like many seem to do, is to have users load up an account with bitcoins and then bid, but ideally, I'd like to not have to store the users bitcoins just in case they do not want to trust me.
Whatever happens, I want it to be automated. So at the end all the users get their coins back that lost, the winner automatically gets their bid taken from them.
Any thoughts on this? It looks like something like this could be implemented with Bitcoin Scripts but those are not quite implemented fully yet, correct?
Any help/thoughts would be awesome!