It's generous of you Matthew - but I think if you want to be generous with that bet, there are other projects which would be more beneficial to the btc economy. Here's an idea... make a high profile campaign to get some well-known charity/foundation/organization to accept Bitcoin. If you offer them $100k, they'll listen, no matter what currency it's in. If I could pick any organization to whom you should make this offer, it would be A) Mises Institute or B) Cato Institute. Or, if you want to REALLY pour some fuel on the Bitcoin economy, set it up as a bounty for a massive porn website to accept BTC. Basically, meeting with someone from Kink.com or Brazzers and tell them you'll donate $100k if they accept Bitcoin. You can do it in an epic creative way, like I know you're good at  |
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LOL where is DeaDTerra he needs to be passing through more shares, the price shouldn't be spiking like this |
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Less talk, more action. Who here thinks I can't prove I have the funds? Free money!
I really don't give a shit if you have the money or not, you just run your mouth endlessly. Well actually Matthew is backing up his words with action - with money. Someone who is willing to back words with money can talk as much as they want, in my book. I salute your initiative here, Matthew. I hope you don't lose $100,000 |
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Big mistake for Erik using that exchange.
I understand you feel this passionately. I disagree, my experience with MPEx has been fine - though admittedly more complicated that GLBSE. Yet, the IPO started today and GLBSE was down for several hours and MPEx did not suffer the same issue. You're so resistant to the idea that maybe it's okay if there are two exchanges... seems like a good thing, not a bad thing, to me. |
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Not sure what your "p/s" vs "p/e" distinction is, though?
If you calculate your share (1.9%) straight from the bets, that's what you get in, ie. revenue (or "sales" in Price/Sales ratio). You have to deduct any expenses you have from that number to get your profit (or "earnings" in Price/Earnings ratio). Your expenses per day are 4.68 BTC thus your avg. expected profit per day is 99.69 BTC - 4.68 BTC = 95.01 BTC. Same thing with monthly/yearly figures. Your investors will not receive your revenue, but profits, ie. net income where your expenses have been taken into account. That's why P/E is used in valuation, not P/S. Like dooglus said: The performance of the site is certainly very impressive, but it would be better to have your statistics be correct too. There's no need to exaggerate them.
Gotcha, thank you for the clarification. |
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Are you trying to shoot some of your circle-jerk cum in to your "investors" collective eyeball?
This whole IPO has become a fkn joke. Why? You and your sock puppets got way to greedy.
Not sure what your problem is, EskimoBob. Though, please tell my sock puppets to return to their master for new orders. They've been out a bit too long and I'm worried about them. |
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UPDATED STATS (Aug 24) When the IPO was announced about 6 days ago, the P/E ratio was 10x. Some people said that was too high of a valuation and we've been debating this as is proper. I updated the stats today to reflect the past week of numbers, as well as added a new metric showing P/E based on past 30 days (not based on all time performance). https://docs.google.com/spreadsheet/ccc?key=0Aiec3-Eo_yO5dG5SQklHZG4wRm1GMW9DRWpMMW5UQkE#gid=0Current P/E based on all-time performance: 8.79x Current P/E based on past 30 days performance: 4.72x Thus, if SatoshiDICE remains flat from here, and neither grows nor shrinks in usage from actual past 30 days' performance, it's priced at a 4.72x multiple. Annual dividend yield of IPO prices is 21.20% I can't stress enough that all these numbers are based on actual real-life performance, they are not wild-eyed estimates of possible future growth figures, etc. I think it will be hard to continue to argue that this asset is priced unreasonably. You're still calculating P/S ratios, not P/E ratios. Also, you can't use 320k as your numerator when calculating these P/S ("P/E") ratios, since you plan to sell most of your shares with higher prices, making effective avg. price of your share as .00345, not .00320. Correct P/E (not P/S) ratios are: Current P/E based on all-time performance: 9.95x (down from 11) Current P/E based on past 30 days performance: 5.22x And annual dividend yield of IPO prices is 19.15%. Why are you defrauding your investors? My bad cedus, you are correct re: the math. I didn't avg the IPO shares, only used the first block which are selling for .0032. Not sure what your "p/s" vs "p/e" distinction is, though? And please don't ask snide rhetorical questions, I'm not defrauding anybody. I made a mistake. |
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..............
I can't stress enough that all these numbers are based on actual real-life performance, they are not wild-eyed estimates of possible future growth figures, etc. I think it will be hard to continue to argue that this asset is priced unreasonably.
As you all know: "Past performance is not an indication of future performance" Do not forget to update this thread when you have to cough up a fat payment and PE jumps at the other direction. True enough... though the statistical profits should actually be higher than the actual profit thus far. So the site has made -less- than the statistical odds would suggest. Running the site longer should move the real return higher, not lower. With flat performance, the numbers will improve, not worsen. |
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Roger, you are an inspiration to us all.
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UPDATED STATS (Aug 24) When the IPO was announced about 6 days ago, the P/E ratio was 10x. Some people said that was too high of a valuation and we've been debating this as is proper. I updated the stats today to reflect the past week of numbers, as well as added a new metric showing P/E based on past 30 days (not based on all time performance). https://docs.google.com/spreadsheet/ccc?key=0Aiec3-Eo_yO5dG5SQklHZG4wRm1GMW9DRWpMMW5UQkE#gid=0Current P/E based on all-time performance: 8.79x Current P/E based on past 30 days performance: 4.72x Thus, if SatoshiDICE remains flat from here, and neither grows nor shrinks in usage from actual past 30 days' performance, it's priced at a 4.72x multiple. Annual dividend yield of IPO prices is 21.20% I can't stress enough that all these numbers are based on actual real-life performance, they are not wild-eyed estimates of possible future growth figures, etc. I think it will be hard to continue to argue that this asset is priced unreasonably. |
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UPDATED STATS (Aug 24) When the IPO was announced about 6 days ago, the P/E ratio was 10x. Some people said that was too high of a valuation and we've been debating this as is proper. I updated the stats today to reflect the past week of numbers, as well as added a new metric showing P/E based on past 30 days (not based on all time performance). https://docs.google.com/spreadsheet/ccc?key=0Aiec3-Eo_yO5dG5SQklHZG4wRm1GMW9DRWpMMW5UQkE#gid=0Current P/E based on all-time performance: 8.79x Current P/E based on past 30 days performance: 4.72x Thus, if SatoshiDICE remains flat from here, and neither grows nor shrinks in usage from actual past 30 days' performance, it's priced at a 4.72x multiple. Annual dividend yield of IPO prices is 21.20% I can't stress enough that all these numbers are based on actual real-life performance, they are not wild-eyed estimates of possible future growth figures, etc. I think it will be hard to continue to argue that this asset is priced unreasonably. |
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Bitcoin will succeed by sticking to its strengths. Push transaction, irreversible, with as much or as little personal information disclosed.
Text messaging is a push transaction. Email is a push transaction. People will get the hang of bitcoin once they try it.
The whole idea of automatically pulling money from someones account on a recurring basis is a dying business model. Customers will pay and pay again for products they like.
I disagree that pulling money is a dying business model. Every bill I have, I've set to pull automatically so I don't have to A) remember to pay it and B) spend time logging into accounts and paying. The function of pulling money, specifically for recurring payments, is desperately needed in Bitcoinworld. This doesn't mean the protocol should be changed to enable it, rather it means ewallets and services should create opt-in pull capabilities. ie - in my Blockchain.info wallet, there should be a button (perhaps assigned to just one of my wallet addresses) where I tick "make pullable" and it then gives an authentication PW. I give this authentication PW to any merchant with whom I'd like to give pull access, such as my favorite porn site or the electric company. They can then pull money from that account. Note that at any point I can opt back out, by telling Blockchain.info not to allow pulls anymore. I retain all the power of Bitcoin sercurity, with a wonderful new feature that will be used in thousands of ways. |
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There is a disconnect between the last two points of the contract: 4.2 rules out courts and 4.3 refers to copyright.
This is primarily so that shareholders do not try to claim some right to use the brand. In other words, shareholders should not be under the impression that they can use the SD name/brand/etc without permission. |
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Hmmm more anti-MPEx comments.  Meanwhile, since this post went up five days ago, SatoshiDICE has been making so much money that the IPO price is now only a 9x multiple. SD made over 2000 BTC in net profit today, which is almost a tenth of what I'm asking for in the IPO... earned in one day. Maybe I'm pricing this too low :/ Will post updated stats in the google doc tomorrow. |
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Are we reposting stuff from reddit now, too?
Eh? The blog post was not on reddit. The google search result was posted on reddit and was relevent to the announcement, so I included the visual. Is that not okay with you, Snarky McTibberson? |
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Just wait until a few more days, you are going to see A LOT more Japanese getting on board.
What exactly is going to happen in the next few days that will make more Japanese people get on board? The fact that you can now buy Geiger counters with Bitcoin? ...too soon?  |
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We allow very tiny bets primarily because some people like to test the system without risking much money. Before they trust us, they send little fractions of BTC to see how it works.
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Apologies for the inconvenience of those stuck payments - please PM me if they are still stuck in 24 hrs (they all get unstuck eventually, some are just finicky).
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Look at what the Internet has done for information distribution. Today, even the world's most repressive governments are finding it almost impossible to keep their people from reading media from around the globe and sharing their experiences with the rest of humanity. This is having a profound pro-freedom effect around the world today. Humanity has taken a giant step forward.
Distributed, decentralized currencies like Bitcoin will do the same thing for finances. Today, many people around the world are essentially held hostage by government-controlled currencies. The government can control who can produce new currency and how much and can impose tight regulations on how money is stored and transferred. However, systems that evolve from Bitcoin will almost certainly change this in the next 40 years or so. The rich and powerful will not be able to use governments to control who can create money, how much they can create, how it can be transferred, and so on.
People will soon be as free to store and exchange money as they wish as they now are to exchange information.
I've never seen a JoelKatz post I didn't like. |
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