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are all dividends now being paid direct to the bitcoin address' we had listed on our bitfunder accounts? or should they still be going to our actual bitfunder accounts?
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have been waiting verification on weexchange for 15 days now?  !!!! how long is this going to take?? |
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It seems like people are forgetting the fact that there is an NDA in place, and on top of that, we know that in the past Ken got his hand slapped for providing information which may or may not have been covered under it. Why in the WORLD would he even consider providing information which might be under it again? And now too, right when I imagine things are picking up? We know the chips are under the NDA, and I think we can assume anything stemming from them and their usage (i.e. timelines, profitability, delays, etc.) sure as hell ain't going to be brought up. This ain't a Labcoin. Remember this: http://www.easic.com/vmc-uses-easic-to-achieve-24-756-ths-bitcoin-miner/ ? Unlike Labcoin, there is a reason Ken isn't answering questions, and also unlike Labcoin, there's a danm good reason to have faith regardless of the silence. We know these chips will happen. I mean fuck... With all the whining, I'm surprised no one has demand pictures of chips yet. Isn't that the next step in tearing apart credibility? Lot of people seem to not understand how all encompassing and how serious a properly written NDA is. |
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They said pretty clearly we would get a lengthy update and divs at the end of the weekend could be any time between now and early monday morning europe time so just wait a little.
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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.
There is plenty of presidency for non USD currency poker online operating for years without a license. Not to mention that once one is needed, a "gambling license" is very easy to obtain. Yes you are 100% correct, however what they are doing is still 100% illegal. The only reason they have not had a knock on the door from the DoJ is that it would be a -EV case fro the DoJ to follow through. If Satoshi reached number 5 site in the world then it would be a +EV case for the DoJ to prosecute. The DoJ will basically let anyone do anything up until the point it is profitable for them to prosecute - it really is that simple. You can't use a 'oh these guys were doing it so i thought it was OK' defense. |
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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. Did I ask about Dutch Law? you seem to be very good at answering questions that weren't asked while masking over the important ones that were. What is your stance on the UIGEA and how it relates to bitcoin poker rooms. Given that the most recent legal findings in the U.S.A. do classify bitcoin as money. This is also the case in Germany and the U.K. two of the biggest European markets for online poker. What is your position on the fenced countries of Spain, Italy, Belgium and France? As to the best of my knowledge anything that is wagered that has a monetary value is illegal without a license, be it matchsticks or bitcoins. |
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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.
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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.
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I would be in favour of buying up bonds
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So your not refuting the illegality of offering your services to fenced countries such as Spain, Italy, Belgium and the U.S.A.?
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Having all the legal opinions in the world won't stop btcquick getting shutdown it might keep the owner out of jail but thats about it.
Are you suggesting that in that case the owner should just risk getting to jail, instead? I think he's just reminding us the risk of this company. The lawyer may save the person, but not necessary the company. But is it risky if the company only issues shares to non-US residents? YES, what btcquick is currently doing is illegal it doesn't matter who owns the company. they need to get compliant before they get a cease and desist letter from the DoJ it's basically that simple in my eyes at least. |
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Full tilt did not become second in the industry due to allowing bots - I have no idea where you got that from but it's ridiculous - they got to be second biggest player because they stayed in the U.S. post UIGEA and had and still continue to have the greatest online poker software ever created. Built by a team of more than ten of the most highly paid software developers in the industry.
Also the full tilt "Play with the pros" marketing campaign before black friday was huge. It was everywhere and anywhere. Indeed this was one of their major attractions to casual players |
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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. |
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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
You do realise that offering your services to fenced countries such as Spain Italy etc would be expressly illegal without applying for the appropriate licenses right? Bitcoin does not give you a free pass on circumventing the law. While playing online poker is not illegal in America, the transfer of funds is. It doesn't matter if it's in U.S. $$$, German Deutschmarks, British pounds or bitcoin the transfer of funds as a result of gambling is still illegal. If by some minor miracle you ever did acheive top 5 poker site I again would happily bet a large sum of money that the DoJ will be knocking down your door - using bitcoin is not a way around servicing the U.S. Pokerstars doesn't have rakeback but does have industry leading VIP program which for all intensive purposes is equivalent to rakeback. Offering the lowest rake in the industry has so far garnered you virtually no players despite heavy publicity on 2+2 and Pokerfuse two of the leading poker community websites. Full tilt did not become second in the industry due to allowing bots - I have no idea where you got that from but it's ridiculous - they got to be second biggest player because they stayed in the U.S. post UIGEA and had and still continue to have the greatest online poker software ever created. Built by a team of more than ten of the most highly paid software developers in the industry. Your IPO is overvalued by at least an order of magnitude and I strongly advise anyone considering investing in this to do some independent research. |
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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)
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Paying a lawyer is all well and good - but thats exactly what all the online poker companies did before Black Friday see how well that worked out for them. Having all the legal opinions in the world won't stop btcquick getting shutdown it might keep the owner out of jail but thats about it.
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the 60Th is for the new datacenter so is in addition to the 47 and 19 from std datacenter and franchising, at least that is how I understand it.
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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.
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Everyone who didn't sell two months ago is down 10/100s of bitcoins.
We can either sell out at the absolute bottom (re: now) and trust in bitcoin's price increase to continue indefinitely, or we can wait and see our patience rewarded with huge gains down the road, which would mean increased share price AND increased BTC price.
I say if you don't need the money to feed and clothe your children, then leave it there. These companies aren't going away
(disclosure: I own 10K+ shares of btcQuick, ActiveMining and CipherMine, respectively, so I am definitely feeling the nausea of seeing my portfolio demolished)
well multiply your nausea by about 20 and thats how I'm feeling right now. I can handle the share price falling it's the lack of info from btcquick that is really dissapointing |
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with all the uncertainty around U.S. based bitcoin companies right now, paying div on time and giving a comprehensive update would have seemed prudent.
I am not quite at the point of selling off but I certainly won't be acquiring anymore shares until Ascension starts giving some info to his shareholders, a lot of whom have lost thousands of dollars in the last two weeks
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