Bitcoin Forum

Ticker   GDICE
Name   Gigadice
Listed on   Cryptostocks
Fee surcharge [%]   0.0%
Shares issued   1,500,000
Shares held publicly   ALL
Web page   http://gigadice.com
Security type: Shares
Cryptostocks Link: http://cryptostocks.com/securities/65



Gigadice.com – Gambling evolved

This asset is being offered for the following purposes:

1. To provide adequate bankroll to allow Gigadice.com to raise betting limits and attract more players
2. To provide a buffer for Fiat (PayPal) withdraws for the markets where this is a legal option (outside the US)
3. To enable continued development of the launch-ready Gigadice 2.0 and new features and gambling concepts
4. To provide funds for marketing, incentives and other PR activities to grow player base

About Gigadice

Gigadice aims to become the perennial leader of the Bitcoin gambling community. Operating within a booming gambling industry, Gigadice is revolutionizing the dicing experience. Unique features exclusive to Gigadice have shown to differentiate us from all others. These features include but aren't limited to, Paypal and Litecoin integration along with on/off-chain modes to satisfy even the most particular users. Our Dedicated staff are looking to push Gigadice past the boundaries set by our predecessors by providing an unrivaled gambling experience. Gigadice will remain a work in progress as updates will be streamlined to further increase user satisfaction as we move toward our long term goal.

Features
- Manual/Automated Betting
- Chat
- On Chain gambling/Off Chain (Unique to Gigadice)
- Paypal withdrawals (Unique to Gigadice)
- Litecoin deposits/withdrawals (Unique to Gigadice)
- Provably fair
- SMS Gambling (Coming Soon)
- User friendly design

http://i44.tinypic.com/s4bck2.png

http://i42.tinypic.com/e9yq2f.png

http://i40.tinypic.com/98sl5t.png

http://i42.tinypic.com/2yy2mit.png


Shares

Gigadice.com consists of a total of 1,500,000 (1.5 Million) shares total. No new shares will be issued and no other actions will be taken that dilute the shareholders that purchase the shares. From these 1,500,000 shares a total of 500,000 shares or 33.3% of the total will be offered in the IPO intended to raise 500 (five hundred) Bitcoin. These shares will be sold by the founder and current minority shareholders in an effort to capitalize Gigadice.com for growth. ALL IPO funds will be held by Gigadice.com and NONE of IPO funds will be property of the current owners.

Of the 500 BTC that the IPO is intended to generate approx 400 BTC will be directly deposited with Gigadice.com to act as bankroll and used solely for the purpose of capitalizing Gigadice.com and allow the gambling operation to raise betting limits and handle withdraws etc. Approx 100 BTC will be used for marketing, PR and other growth activities such as player promotions and specials. None of the founders or owners of Gigadice.com currently draws any form of salary and there are currently no plans for this.

Dividends

Dividends will be paid on the 1st of every calendar month and will consist of 75% of the total profit of Gigadice.com. Upon paying the dividends Gigadice.com will provide a summary of the monthly income, expenditures and growth as well as total bankroll balance.

Initial Public Offering

The Initial Public Offering will consist of 500,000 shares representing 33.3% of the company. The shares will be offered a price per share of 0.0010 BTC and IPO will be considered successful if over 25% of the offered shares are sold within a 14 day period*
* The low cost base of Gigadice.com and the fact that founder/owners do not lift a salary allows for a successful IPO at a fairly low % of shares sold and the main reason for the release of 33% (500,000 shares) is that the current owners estimate that 500 BTC is a number that allows for optimal growth potential, while being an attractive investment for potential shareholders.

Reserved Rights

Issuer (Gigadice.com) reserves the following rights:
1.   To make changes to this contract that represents the best interests of its shareholders.
2.   To buy back all and any shares issued in this IPO at a minimum of 150% of the weighted average of trading in any given 30-day period.
3.   To correct and clarify any gross errors or details herein that may prove to be open to misinterpretation.

Voting Rights

There are no voting rights associated with the shares. Gigadice.com does however intend to listen to shareholder suggestions and recommendations when it comes to major decisions that may affect asset price or company viability.

Dissolution

In the event that the issuer chooses to, or is forced to, close this asset for any reason, a new operator may be project founder in agreement with larger share holder to take over control of the asset, or all shares will be bought back by the issuer.

Email address:
Admin@gigadice.com

Reserved

To summarize the original post, I will post the main points below.

Gigadice launches Gigadice.com 2.0 redesign with new functionality, look and features.
IPO on cryptostocks.com
1,500 BTC total valuation. IPO of 500 BTC for bankroll and marketing, 30% of project
500,000 shares in IPO @ 0.0010 BTC each
IPO goes live Monday @ 12 PM (PST)

bookmarked

Great, I'll regularly be posting any updates and announcements in this thread as the IPO progresses.

The site is back online, was implementing some small updates to the chat and deposit modal's. If anyone has any questions or concerns please contact me.

Bookmarked

I bookmarked it, it looks good man!

Quite a bit more reasonable priced IPO then most dice sites (Letsdice 50k BTC valuation comes to mind)

Edit: Was referring to Letsdice.

PD has never had an official valuation, and we don't plan on doing so.

However if we did, I'd certainly consider that a more valid valuation than GigaDice's proposal. They have no past profits or anything, they're simply a website with simple back end and a conservative design (Which has actually stolen a few of our custom made images...)

I'm almost positive he was referring to Letsdice as they had an IPO quite recently.

I am sorry for the mistake, I was indeed referring to LetsDice and their IPO. I would of course also agree that PD would have a far higher valuation then Gigadice due to the longer time PD has offered real money gambling.

The IPO launch date has been pushed to the upcoming Friday due to a few requests by possible investors.

Been tinkering with SMS gambling and if there is enough demand it will be added.

Just like all the other anonymous nobodies who will succeed because vision, right? Get in the WoT (http://bitcoin-otc.com/trust.php), see here (https://bitcointalk.org/index.php?topic=124441.0), work from what's sane and correct rather than what you've seen sketchy "businesses" trying to pass off here, it'll work much better.

Thanks for the suggestion I will definitely look at joining the WoT in the upcoming days. Very informative thread, thanks.

I was going to throw 10btc at this until you changed the IPO date....

Seems like your already catering to some people

A few reasons impacted my decision to delay the IPO date such as taking the opinion of a few who have emailed me requesting to delay the date so they could secure funds. I'm always open to suggestions and criticism from investors and act accordingly, sorry if this has put you off from investing.

The payment options seem interesting.

Correct me if i'm wrong: You can deposit via BTC and LTC, but cashout with both and PayPal?

Yes, that is correct. The reason we don't allow for Paypal deposits is due to the chance of charge backs.

Your site looks good, very interesting the option of paypal withdrawal, do people need to bet to make use of that or can they just upload there coins and convert them to paypal?

Also do you have any idea about your possible profit margin? I am not aware what a bitcoin gambling site averagely makes.

Anyway, I'll follow your thread and try to invest a bit in you site!


Good Luck! :)

im more excited with the prospect of converting bitcoin to paypal withdrawal. that would be so great for my ebay purchases

He told me it's a 3% fee (correct me if I'm wrong).

There currently in a 3% fee associated with Paypal/Litecoin withdrawals simply to prevent individuals from using our site as an exchange service. I felt a flat fee would work the best for our site as it won't over complicate things for our bettors while still preventing our site from being exploited.

Unfortunately we will be charging a flat fee for withdrawing in Paypal/LTC as we do not wish to be used as an exchange service while still remaining fair to our users.

don't mind! currently im stuck with btc -> gyft (amazon) conversion so yeah its good to see another alternatives  8)

Since Inputs.io got hacked and will no longer exist we will look at alternative wallets that allow for instant deposits.

IPO is now live, if you're interested in investing please check out our listing on Cryptostocks.

http://cryptostocks.com/securities/65

I like the site I will invest when I receive my Bitcoins.

Looks good.

Check out our listing if you're interested in investing.

http://cryptostocks.com/securities/65

Things like that makes you question how serious this is. The paypal-feature is very nice, how does it work?

yes would also be interested to understand the Paypal option. I understood You take 3% fee and the receiver will eventually also pay another 4-5% to Paypal if I am not mistaken.

is Gigadice regulated? I am asking because a bitcoin casino would not need any regulation but with paypal or any other fiat payment processing a gambling/gaming license would be needed IMHO.

I have a feeling (unfortunately) that U.S. users won't be allowed to use the PayPal option...

Well, that sucks.  Not his fault, most sites would do that.

Not sure if true just making an assumption.

I have proven my identity to a pre IPO investor already, however if enough prospective investors would like me to make my identity public I will happily oblige. The Paypal feature is a brand new concept we're bringing to the gambling scene and believe it can revolutionize Bitcoin dicing. Regarding the specifics of Paypal integration we unfortunately only allow for Paypal cashouts as deposits would leave us open to possible chargebacks. An issue we had while trying to incorporate Paypal was the chance that our site would be abused by individuals who wished to use us as an exchange service. To prevent this from happening we have introduced a 3% flat fee which would make possible "exchanges" not as lucrative all the meanwhile remaining fair to our users. Unfortunately, U.S citizens will be unable to cash out through Paypal as it would be in direct violation of several U.S laws, however U.S citizens are still able to access every other aspect of our site.

Yes, U.S citizens will be unable to withdraw via Paypal. They will however still be able to access the rest of the site.

i have an asian paypal account, can i do a withdrawal too?

Isn't using PayPal for gambling activities a direct violation of their ToS?

I'm a Canadian citizen and it isn't a violation. This however isn't the case for any American user as their ToS strictly forbids any gambling activities. That is why U.S citizens will not be able to withdraw through Paypal.

hmm and I thought each fiat payment or withdrawal requires a gambling/gaming license ( at least in Europe and some other countries) please correct me if I am wrong.

I'm positive even BTC - BTC gambling sites like JustDice require gambling licenses now since FINcen has updated their policy.

As long as it's not against your specific country Paypal ToS.

Jumping on board with 12 shares and keeping my fingers crossed :)

*Wow, what luck, right after purchasing 12 shares now I seemingly can't access the site...anybody else having this issue? (https://cryptostocks.com) that is

Great, make sure to follow this thread as any pertinent information regarding the IPO will be posted here. Cryptostocks has intermittently been going offline for me as well today.

Approximately what kind of profit are you estimating/generating per-month?

This appears to be either

a) a really, really shitty stock, or
b) a scam. But such a bad scam that they didn't bother to advertise it.

No-one appears to be interested in these shares.  May I suggest moving to Havelock as I think someone else has suggested?

Havelock is not accepting new securities.

Given all of the recent uncertainty with regards to digital assets and just how poorly things can go for people involved in them (BitFunder, btco, etc.), what is your confidence level with regards to cryptostocks and should the worst case scenario come into play do you have any sort of backup mechanism in place to ensure that existing shareholders won't be left out in the cold should cryptostocks end up deciding to pack it in one day?

very good question, very interested to see the answer. thanks

I was a little drunk when I posted this, I hope I didn't offend anyone.  Does anyone know the reason for the slow share take-up? It has me a little worried.

Maybe he can export a list of shareholders every day, so if that happens he at least has a starting point? Does the site allow this?

It's probably not a scam, but it's not a usual IPO.

Usually investing in an IPO is a gamble.  Investing in an IPO of a gambling site is literally a gamble.

However, GigaDice has a statistical advantage that has shown to work well (PrimeDice, Just-Dice, Coinroll).

In addition, they also have some unique features that differentiate themselves from others.

Sorry about my absence I will be posting a huge update in the next day or so regarding the IPO so I suggest all investors watch out for that.

MAJOR UPDATE:

I have decided to put Gigadice in the market for anyone interested in buying it. Unfortunately this means the IPO will be closed, I have already contacted CryptoStocks and investors will be refunded in full for any shares purchased. For anyone interested please check out the linked thread.

https://bitcointalk.org/index.php?topic=343849.0

That's your 'huge' update?

When do we get the refunds?

To wit:

In my transaction history in my Cryptostocks account, it shows my 1 share of Gigadice (which I had originally purchased for 0.001 + fee) was bought back 27/Nov 14:07, but at a price of 0.0 BTC. No BTC was credited back to my account. Has this happened to other people as well? Was the wrong buyback price input when the buyback was done?

Yes same for me.  I have not been refunded the money.
Sent an email to support. Hoping this isn't another scam.

Same as well happened to me.  I had 20 shares, looks like the guy just stole the bitcoins, instead of the buyback @ 150% trading value like stated in his stock info. 
Also cryptostocks support is fucking useless on help for it, so I'll be liquidating and removing all my bitcoin from the site with absolutely no security or user protection.

Hopefully the GDICE owner does the right thing and gives our money back.

Ok my BTC has been credited and withdrawn/confirmed.
Took a little longer than expected but I can't fault GDICE on their communication.
Thanks.

Good to hear you got your money back along with the others.

My money returned aswell. Thank you!