|
This number shows the number of players online, not the number of players actively on the table.
|
|
|
|
We are currently retesting the auto withdrawal system as we found out that some players were paid out but the chips were sent back to the account as well. We have worked the bugs out of our captcha system so we now have upgraded our anti-bot security. Also, we have decided to buy back all shares sold during the IPO and perform a new IPO under more optimal conditions, see: https://bitcointalk.org/index.php?topic=317632.0https://cryptostocks.com/securities/55 |
|
|
|
|
Satoshi Poker will reserve 500k shares for player promotions and will work out a solution to guarantee the shares will be rewarded slowly to not influence the market price.
|
|
|
|
https://cryptostocks.com/securities/55Ticker SATOSHI Name Satoshi Poker Hi all! Considering that: 1. CryptoStocks only allows 4 digits after the dot, giving the shareholders only possibility to gain or lose share value in 50% increments at 0.0002 IPO price; 2. The community has raised their concerns about the amount the company tried to raise; 3. The company wishes to reward early buyers of shares during the IPO; 4. The company wishes to sell the shares offered at IPO at a higher speed to get ourselves the wanted software package; 5. The rise of bitcoin value; ... satoshi Poker has decided to buy back all shares that have been sold at the IPO and perform a new IPO under better conditions. Here is the new asset description. This asset is being offered for the following purposes: 1. To provide Satoshi Poker a budget to maintain a professional team for service, marketing and security. 2. To provide Satoshi Poker the funds to purchase a new software package with support for all major platforms and in-browser play. 3. To provide Satoshi Poker with sufficient budgets to meet the industry standards in marketing & promotions. 4. To vest our players in Satoshi Poker's future by allowing our players to become part owner, reaping the benefits of their own efforts. Shares Satoshi Poker consists of a total of 10,000,000 shares. No new shares will be issued and no other actions will be taken that dilude the shareholders that purchase the shares. Satoshi Poker was started with a total of 100,000,000 shares, but because of the limitations within Cryptostocks, we were unable to perform a succesful IPO. The original share price of 0.0002 would only allow profit or loss in 50% increments. We will request Cryptoshares to de-issue 90 million shares. If this is not possible, these shares will be declared void. Dividends Dividends will be paid on the 1st of every calendar month and will consist of 50% of the total rake and tournament fees collected, equally devided amongst all the shares. Upon paying the dividends Satoshi Poker will release detailed financial statements with their income, expenditures, player balances and other reserved funds. Initial Public Offering The Initial Public Offering will consist of 2,000,000 shares representing 20% of the company. The first 500,000 shares will be offered against a 0.0008 share price, followed by 500,000 shares at 0.001, to finish with 1,000,000 shares at 0.0012 Reserved Rights Issuer reserves the following rights: 1. To do a Second Public Offering if market demands justifies. 2. To make changes to this contract that represent the best interests of its shareholders. 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. Dissolution In the event that the issuer chooses to, or is forced to, close this asset for any reason, a new operator may be vetted and chosen by the current CEO to take over control of the asset, or all shares will be bought back by the issuer. A “dead man’s switch” will be implemented in order to pass control of this asset to a safe secondary operator in the case of the issuer’s un-timely demise or hospitalization. E-mail: support@satoshipoker.orgDisclaimer & Risks Bitcoin’s legal definition as a currency, commodity, investment, or financial instrument may be subject to unique regulations in some jurisdictions. The issuance of bitcoin-denominated securities may be considered high-risk in the current environment. Please perform due diligence in all of your investment decisions, and consider all risks before purchase. While all investments involve risk, bitcoin securities may be considered among the most risky. Some have products and services that are still in development or have yet to be tested in the market. Many trade on unregistered exchanges. Possible risks that pertains to bitcoin securities involves the low volumes of trades. Because most bitcoin securities trade in low volumes, any size of trade can have a large percentage impact on the market price of the security. Satoshi Poker is not liable for losses caused by default/theft within the host exchange.
|
|
|
|
I am going to now ask this for the third and final time as you have so far failed to answer, before I leave this thread and it's potential investors to make up their own minds.
Do you honestly believe that offering your services without applying for the appropriate licenses to fenced countries such as Spain, Italy, Belgium etc is not illegal?
What about U.S.A. do you think the UIGEA does not apply to you simply because you are using bitcoin? If so please provide evidence of any legal opinion ever provided to anyone in regards to online poker in the U.S.A. that this is the case.
According to dutch law bitcoin isn't money. According to european law, bitcoin isn't money. Which makes satoshi poker legally equal to zynga poker on facebook. |
|
|
|
While I have absolutely no reason to suggest you are not a trustworthy member of the poker community - touting that list as meaning you are the most trustworthy player in online poker is totally absurd. That list has no meaning when it comes to morality or ethics, all it shows is that you have not welched on some bets essentially. I would generally expect the most trusted guy in online poker to have a few more followers on twitter than the 13 you have. Just as a comparison lets look at someone who is actually considered to be one of the most trustworthy players in online poker Isaac (Ike, LuvtheWNBA) Haxton who has well over 13,000 twitter followers. That is a guy that when he speaks about ethics, trust and morality the poker community actually listen. A guy that is frequently chosen by the poker community to moderate disputes both financial and ethical.
Please stop bashing my site pro. He can't respond here  |
|
|
|
My site pro has requested me to post this message here as he does not have a bitcointalk account: Today i have been studying the criticisms of Satoshi Poker, our IPO, and our future potential. I feel I should speak up. My online identity is PLO8MONSTER. (Randall M) I am the site pro and i have worked very hard to help Satoshi grow this site. I have worked very closely with our CEO to turn this company around. I'm no MBA, with the experience of investing as many of you who are posting criticism do. So first of all, I respect that many of you are highly accomplished bitcoin investors. I do not intend to discount your concerns. Indeed, i respect your accomplishments. It is great for the Bitcoin industry as a whole to have a platform for discussion of bitcoin investment. What i do posses is the tremendous trust of my fellow bitcoin poker players.. We as players also use a WOT (wall of trust) ... ... I am considered one of the very most trustworthy poker players online period. See plo8monster listed at the top of the WOT at http://sealsdeals.info/?trustI have been on the top of that list since it's inception. I currently have fallen from "THE" most trusted online bitcoin poker player to 3nd on that list of thousand of players. This is because I am no longer playing at the competitors poker site. I could easily take the number one position back if i cared to play as a staked player again, at a site i lost trust for. That competitors site took a bad path that inflicted harm on it's players.. Plo8monster no longer plays that site for that very reason. People trust me, players trust me, admins trust me, but most of all........ I trust me to "TELL THE TRUTH" no matter what !! I am not anonymous. All you need do to discover my identity is Google PLO8MONSTER. What i am saying here is that I DO trust this proposal for bitcoin investors is awesome!! It is my firm belief that cognizance is commensurate with courage. And it takes a tremendous amount of courage and even faith, to look at something from different point of veiw. So im just gonna put my point of view out here for all to see... I think this offer as a penny stock, will later give you options, that you will not want to miss.. I would suggest trying some of this venture, but certainly not a large purchase at this time. Furthermore, I suggest you view it as a venture not a stream of revenue within its first year..(there will be some revenue generated but nothing substantial until we triple in size). Which actually is not that far away! Honestly, we ARE growing. I have a lot of sweat equity into making that happen... When I accepted this position, it was because Satoshi made a commitment to design a no drama zone. A "safe and pleasant place to play your poker and call home" ... I told him "if we build it they will come" and they are coming. The blatant corruption on other sites pushed me away. I welcomed this opportunity. Do i feel Satoshi has exaggerated income? Yes to some extent that is true. We have NOW reached a level of daily loyal players to cover our tournaments and guarantees... This Past few weeks we have actually raised Guarantees, because the number of active players has grown substantially.. We are experiencing great momentum, and that is why this offer is being made. Timing is everything. We simply want to fully take advantage of the momentum we have worked so hard to create. I have helped grow other sites, so this is not my first rodeo... All online poker sites lose money early on... And a lot of that is due to them having to provide tournament guarantees that dont cover cost. They do this early on, so that the cash game tables are available. The cash games are the profit early on.. But the growth in a site is due to tournament play. Eventually the tournament play becomes slightly profitable, and thus making all cash play pure profit... We at Satoshi Poker are at this stage of development currently. The best way i can explain this is that early on poker sites grow by addition. The sites add players until they have enuf to run tournaments and build a schedule that is adaptable for growth. Yet, the goal is to; not give the farm away with guarantees while doing it. That is where I fit in.. That is what my boss and I have accomplished, since my arrival as Satoshi Poker's site pro. Now here is the deal, that an investor needs to know!! When the poker site reaches the stage we are currently at, the growth no longer remains addition, it becomes multiplication. Once Viral it becomes exponential growth... So if your looking for an investment that will pay exponentially, A poker site such as ours, Has awesome potential for that kinda growth... I'm not gonna lie to you, or stretch the truth., When i arrived at Satoshi Poker we had a bad business model for pro and site.. It was not profitable for either party. And because the pro's held no accountability it was a lose/lose relationship. I have since worked with Satoshi to build a win/win relationship with our player our pro's our affiliates and our investors... Poker players like me we dont understand high finance.. But we do understand EV and implied odds and how to maximize the hand we are dealt... The estimated value ( within 2 years of today) with the implied odds of Satoshi poker's growth in the bitcoin poker industry, make this a good venture investment.. I predict not only will the value of our company grow to meet this offer, but as bitcoin itself gains value it makes this a double plus ROI plus ROI for risk vs reward... I suggest you dont make large purchases at this time, that you hold the shares you buy. As we grow your going to have leverage to make large purchases as this small investment matures.. Your biggest ventures in life will always be the ones that were ground floor opportunities. That is my take on it... Now I will tell you this also, the funds we are raising will accelerate our growth. We need your help, but we will succeed regardless. It may be slower, but we have a successful model working currently that WILL only improve.. We have no intention to abandon Satoshi Poker for any reason.. It is our child... We didnt throw it away because it was broken. We repaired damages and amended our approach to growth. This Is working and will only get better.. A site like ours has perpetual growth potential. And I have to say our players appreciate us, and we appreciate them. If you really want to know the value of a company and especially the value of its future, ask it's clients. I am asking my boss to post this, on behalf of Satoshi Poker at your site for bitcoin investors. I will post it for our players on Grindabit's Satoshi Poker forum. WE as players, and as a players poker site, ask you to please consider that any company's best assets are their people. We are a good investment. Players, please feel free to comment on how you feel about Satoshi poker in the long run. Please be aware potential investors may read your post. So tell the truth and be honest and forthright with your comments.. We can grow faster and easier with the capital we are raising. This will benefit you as a player and us as a business.. Speak up, as always, we value the input of our loyal players. ~~~plo8 __________________ - If we build it, they will come - Satoshi Poker plo8monster Site Pro - Satoshi Poker |
|
|
|
|
I envision SP to become a community owned site in the near future, hooking up the backend to an online interface where customers can do the entire decision making about the site, listing tournaments and voting if it should be posted or not. Putting the entire financials of the site online so everybody can see its progress at any time. Having the shares serviced inside the own software and getting all financial processes completely automated. Being able to aquire or sell their shares within the Satoshi Poker client. Proposing new features for the software and have the majority decide if a price quote is right or not. Satoshi Poker will become the first democratic pokersite where the customers decide what happens with it by majority vote.
With players owning their own site and being able to enforce the changes they wish, Satoshi Poker will not just be a site, it will become a movement. A pokersite is nothing but binary code in essence. Any quality any of the sites offer can be rebuilt and even improved, hence the reason that marketleader Pokerstars still has programmers on their payroll to keep improving their software and bringing new games. Having said that it is clear that any pokersite stands or falls by the grace of its players base. It has been this loyal player base which are the reason that we are still in business and turning in a profit, while working with inferior material and budget.
As founder and CEO of Satoshi Poker, I aim to provide the foundation this system can flourish upon. I aim to provide this system the fundamental software for both the site as the new-to-build back end. If our IPO will fail, there would be no issue at all, we can just go on the way we are doing now and keep growing organically. I believe however that it is a mistake to try to grow organically while having the chance to have the very same players who are now supporting the site buying parts of the sites and reaping the benefits of their efforts to take our site upwards. We tried to build a technical solution to have our players buy shares in the site from our own website but we failed to do so, as the API of the current software didn't allow us to get it fully working. I believe that with the current IPO we are able to raise enough funds to aquire the software package we wish to buy and get the technical side of our 'player panel' built.
When looking at the bigger pokersites it is true that they have a way bigger promotion budget but the founding and growth of bitcoin itself has shown that it just needs a community to make a project prosper. Competitor sites try to buy their customer with promotions, we will try to make our customers buy us and become the promotors themselves. Besides that, bitcoin poker is still in its infancy considering the possible markets it can take over. Bitcoin based poker should be the only logical choice of play in some countries. Bitcoin currently represents under 0.1% of the entire market for online poker. Considering the US and China alone to make up for over a quarter of the world population and both loving the game of poker but not having a home to play on, I believe bitcoin poker can and will outgrow fiat currency games and the first site that comes with a serious software product, backed by some serious marketing will not get a piece of that pie, but nearly the whole pie. The fact that the biggest bitcoin pokersite runs on $300 maven software says enough IMO.
When turning a bitcoin poker site into a community owned project where the community decides its direction to follow while only being able to benefit from the site's growth will become an unstoppable movement, especially when breaking open key markets others can't enter.
I believe in this project. It is what I have been working on since January of this year and it is what I will keep working on, whether the IPO is a success or not. Without IPO success it will just take a lot longer to get to that point.
|
|
|
|
Please post your deposit address validating your rake per day claims. Please post some graps/docs of player volume About the costs, you are saying you paid 90k for a software that by your own words does not meet the "minimal industry standards" 5-6months later. Then you now want to buy the source of this "outdated" software for 100k, for then to pay another x amount for the new software (additions?) that will be done in December. Sounds like a great plan. http://www.youtube.com/watch?v=vpnxd31y0FoYou are totally misquoting me. I paid $40k for the current software which was the desktop client and the html5 client (see https://satoshipoker.org/html5). Im not remotely interested in buying the source of the current client. Enterra rebuilt their software applications from scratch making them fully communicate and native for the mobile users. They charge $90k license fee for all their clients which are: 1 windows desktop client, 1 MacOS client, 1 native android app, 1 iphone app and 1 html5 client. We already own the licenses for our current software. The $90K is to buy licenses for the new bundle package and the $100k is the price tag to get the source code of every one of these products so we can put our own team up to devellop this. We don't charge rake to a bitcoin address. The rake is deducted from player accounts by our backend and thus we get a surplus in our hot wallet. On weekly basis we check the total player balances and the funds in cold storage and if needed add some funds to these cold wallets. If not needed we use the funds for marketing or promotion. With the IPO we will automatically reserve 50% of all rake in one player account so we can see exactly how much has to be paid out. We will have that account withdraw to CryptoStock and pay out the dividends. I will post you some graphs and statistics tomorrow, even though you are not interested to buy. I had a 3-day session preparing for this and I am in Bangkok time zone. I'm going to get some sleep first. Ohhh So you paid only 40k. Well this makes even less sense then, because as "thy" points out you've already taken a considerable amount of investor money, while you claim to have invested more than 100k yourself. Please elaborate on the 100k you say you've personally put into this project and where that has then gone. And I know you don't charge/send rake to specific bitcoin addresses. All im asking is for you to show proof of deposit volume so investors can see if your 2.5 to 4 bitcoins in rake per day holds up. To me, you obviously don't know what you are doing and you've unfortunately so far been able to basically scam a few people already, I wish I stumbled upon this back then, maybe I could have saved someone. The fact that you say you can make your site the fifth largest poker site in the world, in 12 months, based on this IPO, is so absurd it speaks for itself. Do you realize the budgets you are competing against? Even some smaller sites are paying 200mill just to sponsor a soccer team.. And they are like 30 on that list. It gets even worse, you are claiming this without submitting any facts, documentation, plans or anything that would indicate you are on that path. All you are saying is that you would like these investors to overpay for a software upgrade. Why? Because you are realizing this doesn't work, you are running out of funds, losing money on freerolls/promotions, forcing you to scale back and this is the only hope and time you have.. Take your bag and leave, stop lying and sell the site for 10-20k and move on. And I want to point out something else when I've first started: In the grindabit thread linked earlier you are accused by your own "sponsored pros" (which are just regular players for the record) of playing and winning funds versus them with an anon-alias on your own site. Not only that but you also admit they are Seals player and their sole task was to bring friends and player over from there. This is very unethical and not something a serious poker site would ever do! And you also admit that you allow a bot to play on your site because "the bot is bad and you don't want it coming back under new alias" This is literately insane, you are basically allowing someone to tweak their bot without interference.. I'm going to keep this short considering you come to this thread and probably this forum for one reason only, looking at your post count. I would invite anybody that is interested in purchasing shares during the IPO to do their own research. I don't see how it would be unetical to sign players a pro deal on the promise to get people over. If you run a pokersite, there is only one place you can get your customers from: the competition. If you look at the thread in Grindabit you mention it is actually the same pro's that ran with the money I staked them to come back 2 months later to accuse SP out of the blue, just based on a feeling they had. In fact, after posting the evidence on the matter, the same pro's left the thread. I'm not going to stake players to then get back the money I provided to get the cash games going. If you post information, please post the correct one, as I have the habit of ignoring baseless accusations and misrepresentations. |
|
|
|
Excellent criticism in here. OP, listen to these people. And see here. Yes, I still remember that you helped me to set up a GPG code in the past, Mircea. Thing was that I didn't have the time to find out how all these systems worked and with the first investor requesting specificly to be listed on bitfunder, I chose not to go through the hassle and get listed there instead of on mpex. I will always listen to founded criticism and there are indeed some valid questions in this post, which is why I take time to answer them. Thanks for your starters guide. You know who some of the investors behind Satoshi Poker are, so if you don't mind I'll pass on reading it completely. Good luck with mpex! I'm not Mr. P. My name's Hannah. Anyway, taking the cheap and easy way out is likely to land you in mud, which is alright I guess if you're only responsible for yourself, but it gets a lot less harmless once you start soliciting third parties for funds. I apologize, I thought you were Mircea. I'm not taking the cheap and easy way out, I'm not landing in mud and so far I have been responsible for over 2000 player's funds. I don't understand the point you wish to make with this remark. |
|
|
|
Anyone considering this should start by looking at some of the following websites http://www.pokerscout.com/ (industry std website for measuring leading poekrsites and active number of players - satoshi pokers 7 day average is 1 player, the 5th largest poker site has an average of 2050) http://diamondflushpoker.com/ (independent poker news site with in-depth coverage of Black Friday and the relevant American laws regarding online poker) http://forumserver.twoplustwo.com/28/internet-poker/satoshipoker-co-bitcoin-poker-room-official-support-thread-1358099/This is Satoshi Pokers own thread on the most popular online poker community forum please read through and evaluate for yourself what players who actually use the site are saying about player numbers and available games. While this list is by no means exhaustive it should provide you with some insight into what Satoshi poker is up against. Online poker is one of the most fiercely competitive industries online with Rational Group holding the lions share of the market generating billions in rake per annum. It's like me coming up with a new brand of coke and thinking I can take on Coca-Cola and win - it is beyond ridiculous. I am not denying you can possibly run a profitable site but investors will never see a return on this IPO valuation and you have provided no data to suggest otherwise. About pokerscout: please look at http://www.pokerscout.com/UntrackedSiteDetail.aspx?site=SatoshiPokerBased out of UK? No, we are based out of Holland. Servers in UK? No! You can do the lookup yourself as you can see the game server address in almost every text file of our client. To save you time: 184.164.145.234. Software provider Cloud Group? Hmmm. They are a lovely South African hosting company, but I didn't know they sold poker software as well, because they don't. We use enterra's software. You can download their demo at enterra-poker.com and see that it has similarities. Somebody looking for a rakeback deal listed us on pokerscout.com just to get the referral income. We are working on a feed for pokerscout but it has not been completed yet. There is no way they can track our traffic and the information shown is not correct. Most of the complaints about Satoshi Poker are about the software. In bitcoin world it can hold its own but it is too lightweight to compete with anybody outside of bitcoin poker. I think we have done a pretty good job in getting players to come over to the site to play their favorite tournaments, but cash games are not catching on as every serious cash gamer wants to play multiple tables. We support it but it hurts the gameplay, which is why i wish to upgrade our software. I am aiming at becoming a top5 player in online poker within the next year and with the budget provided from the IPO I am confident I will succeed in this mission. I never said I can take on Stars (coca cola in poker) and win. I just tried to show that a bitcoin-only site has some advantages over over sites which can bring a site very far. Besides that the IPO valuation is not an exact valuation of the company. I know for this investment I can take this company to become a top 5 poker player and as such I am willing to sell 20% of the company for the amount of money needed to do so. If investors believe in me and purchase the shares and I manage to take it to the top 5, the reward and company valuation will be astronomical larger than the price I IPO the current shares for. If investors have no confidence in my ability to take Satoshi Poker there, then no hard feelings. |
|
|
|
Please post your deposit address validating your rake per day claims. Please post some graps/docs of player volume About the costs, you are saying you paid 90k for a software that by your own words does not meet the "minimal industry standards" 5-6months later. Then you now want to buy the source of this "outdated" software for 100k, for then to pay another x amount for the new software (additions?) that will be done in December. Sounds like a great plan. http://www.youtube.com/watch?v=vpnxd31y0FoYou are totally misquoting me. I paid $40k for the current software which was the desktop client and the html5 client (see https://satoshipoker.org/html5). Im not remotely interested in buying the source of the current client. Enterra rebuilt their software applications from scratch making them fully communicate and native for the mobile users. They charge $90k license fee for all their clients which are: 1 windows desktop client, 1 MacOS client, 1 native android app, 1 iphone app and 1 html5 client. We already own the licenses for our current software. The $90K is to buy licenses for the new bundle package and the $100k is the price tag to get the source code of every one of these products so we can put our own team up to devellop this. We don't charge rake to a bitcoin address. The rake is deducted from player accounts by our backend and thus we get a surplus in our hot wallet. On weekly basis we check the total player balances and the funds in cold storage and if needed add some funds to these cold wallets. If not needed we use the funds for marketing or promotion. With the IPO we will automatically reserve 50% of all rake in one player account so we can see exactly how much has to be paid out. We will have that account withdraw to CryptoStock and pay out the dividends. I will post you some graphs and statistics tomorrow, even though you are not interested to buy. I had a 3-day session preparing for this and I am in Bangkok time zone. I'm going to get some sleep first. |
|
|
|
Your valuation, at this stage, is nuts. I told you that months ago, and very little has changed.
Furthermore, you conducted yourselves very unprofessionally, including insults when I declined your previous solicitations. I personally don't care about being insulted, but it does speak to your management style.
The problems you had while fund-raising before are still there. There is much more risk of NOT growing to be a 20,000 bitcoin company than you are accounting for.
The fact is, that if you had a fair offer, good reputation, and track record of being motivated and demonstrating, there is plenty of private money out there to back a bitcoin startup.
You already purchased software that was to be your saving feature, now you want something else?
Have you created a web-based version yet?
Wasn't BitFunder supposed to list you?
Hi TaT, I can't recon having ever insulted you and if I did, i offer you my sincere apologies. Indeed the plan was to get listed on bitfunder and if you look at the asset list on bitfunder, you will see that we are already listed there. Considering the situation bitfunder is in right now, all the shares plumiting and US investors being forced to leave the site, me and the other investors decided in cooperation with Ukyo to not get listed on Bitfunder. If you have followed our progress you might have seen that we did have a beta of a browser based (html5) client but that it has so many bugs that we chose to further improve our desktop client and wait for the development of their new native clients. |
|
|
|
You guys are unreal, I usually just lurk but this hit a nerve.
The fact that not all the tables have bad-beat-jackpot does not explain why the generated number is just 1.4 bitcoins, we are talking about months and you stated to your potential investors that you generate 2.5 to 4 btc in rake each day.
That number is so absurd, I'ts an obvious lie.
Just imagine, that amount of rake each day, what volume of deposits you would have to get.. Take the most generous number ever, around 10btc. PLEASE POST YOUR WALLET ADDRESS so everyone can see and validate themselves if your words hold up.
And as "addi" correctly pointed out, the amount of active tables running would be an considerable amount.. please post some graphs or documentation from your cms system (if there is one)
And you write above:
" It will give us the time for the preparation to the new software client and get our tech team together to work on it, before it's released in December."
while in your own forum thread you wrote just a few hours ago that the plan is to buy the software from a company called Enterra.. so Which is it? Or perhaps you are Enterra? and how on earth will this new software be ready by December, its a couple months..
It just doesn't hold up, even the amounts you are asking, for a fraction, if anyone wanted they could probably buy a software license themselves, buy a .org domain and throw together a template webpage with stock images and probably do a better job at it...
You guys should be banned
Lovely, all these 8 posts accounts to come over here  Everybody who plays at our site is aware that we bought our software from Enterra Poker. We are not Enterra itself, just their customers. For the new client I dont only wish to purchase the license but also the source code so we can do the modifications ourselves. Total license fee is $90k and the source an additional $100k. Their software will be ready in december as they have been working on it for months, since their current platform is no longer meeting the minimal industry standards. If you think that you can buy that package and just throw together a template and get a pokersite running, then I strongly advice you stay far away from the poker business. As you're not interested in aquiring any shares in my company, I wish you good luck finding another company to invest in. |
|
|
|
Excellent criticism in here. OP, listen to these people. And see here. Yes, I still remember that you helped me to set up a GPG code in the past, Mircea. Thing was that I didn't have the time to find out how all these systems worked and with the first investor requesting specificly to be listed on bitfunder, I chose not to go through the hassle and get listed there instead of on mpex. I will always listen to founded criticism and there are indeed some valid questions in this post, which is why I take time to answer them. Thanks for your starters guide. You know who some of the investors behind Satoshi Poker are, so if you don't mind I'll pass on reading it completely. Good luck with mpex! |
|
|
|
this IPO is bs, dudes are sleazy
these guys have been here like 2 or 3 times lookin for money
this is a cash-out plain and simple
they built this thing, n now they wanna cash out on its "potential", then drop it like a hot turd
dont waste ur money
Yes we have taken out some investments in the past and now in cooperation with these investors we have now set up this IPO. The IPO is real and this is is a cashout of equity to make the neccesary investments to take my company further. I have been working on this project since april, investing over 20h/day and $100K+ in the site. If you don't believe in my company, then so be it. The company is listed under my own name in Holland and even carries my name. I show full transparancy, as I have no intention of dropping my dream company, hence the reason there were investors who believed in the product and paid a 0.00008 share price on these investments. If have any signs we would drop it like a hot turd, then please elaborate on that statement, because as far as I see, you are just hating  |
|
|
|
Below is a quote from you or one of your co-workers on 2+2 - can you please explain how you are going to acquire critical mass when you can't even acquire players charging zero rake on HU games and only 1% on normal games? What is your marketing strategy because as you yourself point out undercutting all of your competition in price didn't have any impact on player numbers at all.
Rake
We had a lot of complaints from affiliates about lowering the rake to 1%. It didn't bring any extra players in but cut their affiliate income in half. Also the rake free heads up games didn't attract any attention or didn't get any more tables started.
The rake system is now installed as follows and will not be changed in the near future:
Base rake: 2%
Rake cap: 100 chips (0.01 btc)
That is actually my quote. We are growing on weekly basis in number of traffic. Aquiring the software is part of the marketing strategy as now we can only market to players with a windows machine; no mac or mobile support. Having the new multiplatform client will increase our market (as we can market mac and mobile) and besides increases the time our current players can spend on the site. Traffic brings traffic. |
|
|
|
Thanks for the link. I will read it later. |
|
|
|
Having been a professional online poker player for the last 6 years, I can honestly say this does not appear to be a good investment. How you ever think you can compete with Pokerstars, Full Tilt, IPoker etc is beyond me. Jeez even SealsWithClubs at least has poker players with good credibilty behind it - what do you have? Their marketing budgets are measured in the tens of millions of dollars per annum how are you ever going to compete with that?
Suggesting you are aiming to be a top 5 poker site is literally the most lol thing I have heard in years. I would happily bet $10,000 that you do not achieve that in the next 5 years.
You don't even state how your going to achieve critical mass?
You can't compete on prizepools.
You can't compete on software.
You can't compete on rakeback.
You just can't compete - if bitcoin poker ever takes off in a big way then the big sites will simply start accepting bitcoins. In fact there is already an iPoker skin that accepts bitcoin deposits.
I am your number one target customer ( I rake well in excess of $100k a year) and not one thing about your site makes me want to play there.
We can't yet compete on prizepools but we are able to market in fenced markets as the US, China, Italia, Spain and so on. Pokerstars can't legally service some of the countries and in other countries it needs to cooperate with governments to make sure its players pay taxes over their winnings. Players who play a lot will look at what is losing them the most money. As satoshi-poker grows, the prizepools will grow. And if ipoker network would ban the bots you will see that it is pretty much a ghost town as well. They choose to make artificial traffic just as Full Tilt did back in the days which got them to 2nd place in traffic and diving down after banning them. We believe we actually have an advantage over other sites being able to market in markets where they can't move to. I believe we can compete on software, which is why i want to purchase this software package and get dedicated coders on board to lift it up even more. You are right that we can't compete on rakeback, but does it matter? World's leading site Pokersite doesn't offer its players rakeback. Do players stay away for this? I believe not. Besides that, we do offer rakeback and offer currently the lowest rake in the industry (except for the rake-free btcontilt) on our cash game tables. I believe that our rake structure is competitive enough to be able to win that battle. If bitcoin poker ever takes off in a big way then big sites will simply start adapting bitcoins? That would still not allow them to move into the specified markets, unless they start refusing fiat currency. Even if Stars would accept bitcoins they couldn't move to the US market |
|
|
|
First of all, this might be the biggest overvaluation in the history of all valuations I've ever seen. The site hardly gets any traffic whatsoever and the little action there is, is freeroll action. Letsbehonestfor1second. OP even blatantly lies in the post above where he says: And you're basing your valuation on what revenue and profitability numbers?
For over 2 months we have been averaging between 2.5 and 4 btc per day in rake and tournament fees. With this investment we can purchase superior software and grow to become a top5 pokersite. -The site has a Bad-beat-jackpot counter that has barely moved since the sites inceptions, its only +1.4 bitcoins. (10bitcoin manually added day1) How can that be with up to 4bitcoin in rake&fees a day? Please explain. This just appears like another lie/halftruth I've come across by you guys. Also the timing is very peculiar, as it is well-know that a large poker project is announcing its presence with a Beta in a few weeks.. Are you guys aware? the timing might definitely suggest so... Not only that, Seals is also planning a new software release in a couple months... Maybe that would be relevant to mention to your investors?? If you wish to use the math, then please apply it correctly before accusing me of lying. The bad beat jackpot only accounts for the table which have the tag [jackpot] on cash game holdem tables of NL20 and higher. Omaha, O8, Stud, Stud hi/lo, holdem cashgames of NL10 and lower and tables without the tag [jackpot] are not contributing to the bad beat jackpot. Also the tournament fees are not contributing to this pot. You use a figure as measurement which can't give you any certain statistic at all. Since 2012 there are various 'big poker projects' about to launch. We chose to do this IPO now as we believe now is the right time to do it. It will give us the time for the preparation to the new software client and get our tech team together to work on it, before it's released in December. I wish to combine this with my vision to create the first community owned pokersite ever and I would need at least a month to get all the software in place, plus a talented coder. |
|
|
|
|
Show Posts
