[roncohen]

taking this a bit further, the original authors could probably employ this as a strategy: Since it's an anonymous auction, the original author could win the auction and then refuse to pay repeatedly until all the real potential buyers have given up.

[4cao]

Apparently, you have to deposit BTC 0.1 (~= $4,700) to be allowed to bid. Presumably, you'd be losing this deposit upon each iteration if you refused to pay.