Bitcoin Forum

How is it possible that Satoshi D. has given away a million bitcoins so far ?

Maybe because they've taken in 1.02 million BTC in wagers?
With 1.9% house advantage then just takewhatever the payouts are and multiple that times 1.02 to know roughly the amount of wagers.

The house always wins..

http://www.thebitcointrader.com/2013/01/bitcoin-gambling-site-earns-230000-in.html

Imagine if their overhead were trimmed.

Haha, they really need to focus on some cost saving measures.

Seriously though, SD is a wonderful example of a service that leverages the properties of this payment network to really thrive. I can't wait to see what other imaginative ideas crop up as Bitcoin reaches more and more creative thinkers.

I'm truly flabbergasted by how much money this is making.

And it happened right under my nose as I watched on.

Which just goes to show: I have no friggin clue about how to make money on the internet.

This! :)

This made me grin.

If you started thinking outside the Sudoku grid, the opportunities are endless. Consider the image below. Create a gambling site where the user picks a number from one to ten. If their chosen number causes the corresponding digit to wiggle, they win. Even if they lose, they win by enjoying the wiggling of a digit. Addictive? Yes! Profitable? Yes! Weird? Yes! Hell, incorporate a girl's voice on the site like, "You were so close! Please try again, but this time it won't cost you anything, and you still can win your prize."

Or, each digit is assign a Bitcon address, and when you place your cursor on any digit, it wiggles. Tip the digit with a micro payment for the one you liked best. Don't forget to include sound associated with each digit: "Please save this digit for last, for it makes me sooooooooo..."

http://polimedia.us/dtng/c/src/13559978937.jpg

Hell, why have only one set of feet, when 100's would be better. Actual feet of real women giving each toe a voice. Then you'll have the toe of the day, week, month, year... determined by the micro payments transferred.

The girls would then have a link provided to their profile, and the resulting sites don't necessarily need to rated X.

You could name such a site...wait for it...Satoshi Toes (or Satoshi Digits).

Hey, that sudoku has had some bitcoin hidden in it for almost a year and no one has taken it yet! (it's not much though, don't get excited)

As for the toes... well, that's just... weird.

I won 16 BTC on satoshidice and promptly used it to buy S.DICE stock.  Already made over 1 BTC on dividends.

Nice move!

If only I could trade it, wait or even access my GLBSE deposits :/

Probably the only parlay which makes sense.

every time i log into blockchain i always see the incoming and outgoing transactions of to the left and theres always a bunch of satoshi dice payouts/deposits

Haha how fortunes are made.

what a big foot u are ?

Most american citizens do not wish to break the law to make easy money. Gambling is a great example of how to make money in a shady way in the usa. As is selling drugs, fraud via ebay, insider trading, spam, etc... Actually making a product or service legally is much harder to succeed with. Go figure.

But if you do not give a fuck... There are a lot of options out there to make a fast buck.

I hadn't thought of SatoshiDice as an illegal service.  I don't know whether it is or is not.  Are you saying it is illegal because it is an operation based in a place where it is illegal to offer gambling products (I don't know where it's based) or that it is illegal because it fails to build fences to prevent those in nanny states from accessing its services?

If it is merely the latter it seems bizarre to me for anyone to equate the provision of such a harmless and fun service with fraud!

The history of gambling, especially I guess in the States* is rife with corruption and scams, much of which has been facilitated by political efforts to prohibit/control gambling supposedly to protect its citizens.  The beauty of Satoshi Dice to me is the simplicity and provably fair aspects.  As far as I can tell it doesn't get more honest nor simple than that.  If there was ever any justification for gambling laws to protect citizens from cheats etc. Satoshi Dice is to me proof that there is no more**.

* Bear in mind my impression is probably over-influenced by Hollywood!

** I haven't forgotten that some people are still steeped in a world-view that says if a book says something is immoral (regardless of whether the action can harm anybody other than the transgressor) then they have an obligation to prevent/prohibit/punish other people from doing it.  I'm not saying that attitude doesn't exist, just that I can't be bothered to acknowledge it in my considerations.

It is pretty simple to me. I do not want to end up in court or jail.

What are you doing here then?

Nobody involved with innovation ever managed to stay out of court. Ever. Anywhere, anytime.

Isn't that the irony?

The State, which usurps the ability to use violence and intimidation against all others within its given georgraphic area, makes a law which makes an otherwise harmless activity with no victim illegal. This causes dislocations in the economy because of individual human actions. The dislocations create market incentive for entrepreneurs to meet the needs of the market. The greater the dislocations the greater the profit.

With the State nudging its nose into every area of the economy it is only creating more and more dislocations. Creative entrepreneurs are going to be able to make a boatload of money meeting market needs.

For example, look at the problems the State has created, which led to the rise of AirBnB (https://www.airbnb.com/) or Uber (https://www.uber.com/) and is resulting in  economic censorship like this in NYC (http://www.nytimes.com/2012/12/01/your-money/a-warning-for-airbnb-hosts-who-may-be-breaking-the-law.html) or taxi commission in Chicago (http://arstechnica.com/tech-policy/2012/10/uber-under-fire-from-regulators-and-competitors-in-chicago/)?

Now, take a system that makes it so the buyer and seller don't even have a record whereby they could locate the other as it would be hashed and encrypted. But there could still be rating systems and reputation along with dispute resolution via judge.me (http://www.judge.me).

Previously, the market needed to go through banks to settle trade using fiat currency. Cash could only operate to a particular scale but was infeasible in larger amounts as the drug cartels have found out.

But now with Bitcoin being censorship-resistant it is the invisible glue the economy has needed to route around all the governmental economic censorship and maintain the ability to price and settle trade. And there is currently tons of economic censorship which has created huge dislocations and made tons of market opportunity for creative entrepreneurs who figure out ways to route around it. Those who figure out censorship-resistant ways to allow individuals to barter and trade will be rewarded handsomely like Satoshi Dice. And in the process, market needs are met and violence is decreased (with Silk Road there is no turf for dealers to defend and therefore no need for decapitations).

Get crackin' and make your own satoshi dice variable or some other gambling game :D

If only it were that simple.  Making the game is only the first step  ;)

I would say it is almost impossible! At this moment SatoshiDICE holds almost full monopoly over Bitcoin gambling, so you must create something revolutionary to start competing against it!

There was a period near the beginning when SD had a stark interface and wasn't very nice looking. He fixed that and now I'd say it would be hard to make a clone that could pull users away from SD. It would have to be different and superior in some way that many users would prefer it.

Or I'm wrong. It just could be the same and better promotion could attract new Bitcoiners. If things go well in the future the current user base is < 0.1% the eventual. And 1% of new user adoption could be better than 50% of current market share. Same goes for eWallet services.

My original comment above was more related to identifying something new which people will want to use before it is successful. It's not nearly so hard to detect them after they're successful. My real failing is not being much of a businessman. Any true businessman wouldn't care about being original if being a copycat could make as much or more money, which would be like saying "I won't be a land developer" because it's been done before.

But I doubt SD is the Bitcoin "killer app". Or I hope there will be something better.

It has an monopoly over dice games, not gambling as a whole.