THIS is an arguement against SCAM. The owner believes in his product and the potential. Otherwise he would sell 100%.
You do not understand at all how it works. He didn't pay for the 80%, it's an arbitrary percentage. He's actually giving himself 80%, so he can sell it, or keep 80% of the profits, while YOU provide most of the actual capital. Actually, your math is kinda off here. Me and previous investors together owned 100% and we choose to sell 20% of the shares to the public. This is pretty standard IPO procedure, especially considering that most assets only sell 5% of their shares at IPO. I understand you are not interested in this investment, so I wish you good luck finding an investment opportunity that grasps your interest. |
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with such a pricy IPO you could hire me as a customer support maybe.
Why do you need 100 mio shares? This sounds to me like potential labcoin 2.0
When we had our first angel investor back in April, he suggested this amount of shares to be issued, as when the site gets really big, shares would become unaffordable lateron. We have always had the company cut up in 100M shares for every pre-ipo investment and now we IPO i feel no need to change that. I have no idea what happened with labcoin, I run a poker business, not a fictional value creation system. |
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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. Where do the other 50% of total rake / fees go? Surely your costs won't match exactly that amount every month. The Initial Public Offering will consist of 20,000,000 shares representing 20% of the company, released in 5 batches, with the first 4M shares against a 0.0002 share price. Like pankkake said, this means you're valueing the company at 20000 BTC, of which you own 80%. What is the justification for such a high valuation? Where are your volume/profit statistics for recent months that can give investors an idea of the expected returns? 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 bonds will be bought back by the issuer. Bought back at what price? Currently this contract allows for 1 satoshi buybacks. Also, why are you calling the things bonds here while they're called shares elsewhere (and are, in fact, neither)? Bonds was a mistake by my textwriter for which my apologoes. The other 50% of rake goes to rakeback for our players (20%), affiliate bonusses (5%) and operational costs. So operational costs are always 25%? What if they go significantly below that? Will the difference be distributed to shareholders? And what if the costs increase to above 25% of the income? Where will this money come from. Note that I made an edit to my previous post which concerns the expected revenue for shareholders and the problems with releasing further batches of shares at unnanounced times and at market price rather than a pre-determined price. Operational costs will remain below 25%. In case they run too far below it means we can expand our budgets such as marketing budget or increase our staff members if needed to further support our growth. We will however make sure that we have the funds to cover unexpected expenses in case they arise. About the future batches: every time a batch is sold out, a new one will be released at market price, allowing the people that get in early to make profit by trading their shares, instead of putting up a 20M share wall which can only look downwards untill sold out. |
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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. Where do the other 50% of total rake / fees go? Surely your costs won't match exactly that amount every month. The Initial Public Offering will consist of 20,000,000 shares representing 20% of the company, released in 5 batches, with the first 4M shares against a 0.0002 share price. Like pankkake said, this means you're valueing the company at 20000 BTC, of which you own 80%. What is the justification for such a high valuation? Where are your volume/profit statistics for recent months that can give investors an idea of the expected returns? 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 bonds will be bought back by the issuer. Bought back at what price? Currently this contract allows for 1 satoshi buybacks. Also, why are you calling the things bonds here while they're called shares elsewhere (and are, in fact, neither)? Bonds was a mistake by my textwriter for which my apologoes. The other 50% of rake goes to rakeback for our players (20%), affiliate bonusses (5%) and operational costs. |
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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. |
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Dear players, I am happy to announce that Satoshi Poker will make a huge jump forward by going public. Later today, we will list our site at one of the bitcoin based stock markets. Why going public? We want to increase the speed at which we are growing at and in order to do so, we have to aim at providing the best customer service and poker experience in the industry. The funds of this IPO will be used to purchase a new software package which will be launched on 1st of december by our software company Enterra Poker, with support for Windows, Mac, in-browser play and mobile applications. Besides that the funds allows us to maintain a professional staff for building the improvements that you request us on a daily basis and provide you world-class customer support. Also we will be able to hire a marketing team which can help both you and us to take the site further upstream in traffic. On top of that, we will be able to improve our security to guarantee you not only the most fun but also a safe environment to play in. What does this mean for you as a player? Satoshi Poker will remain to be Satoshi Poker, but will expand its services and increase the improvements at a higher rate. Besides that, you as a player are now able to purchase shares in the site, starting at 0.0002 bitcoin. As little as 2 satoshi chips! This allows the players to benefit from the effort they put in the site to make it grow. For more info visit: https://cryptostocks.com/securities/55https://bitcointalk.org/index.php?topic=312764.0Best regards, Bart Your Satoshi Poker Admin |
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So you're giving yourself 80%.
Usually when you own a company and sell 20% then yes, you still own the other 80%  |
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SATOSHI represents Satoshi Poker; Bitcoins premier poker site 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 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 100,000,000 shares. No new shares will be issued and no other actions will be taken that dilude the shareholders that purchase the shares. 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 20,000,000 shares representing 20% of the company, released in 5 batches, with the first 4M shares against a 0.0002 share price. Next releases will be posted according to market price. 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. Links The asset is listed at: https://cryptostocks.com/securities/55Issuer Info BitcoinFlush is trusted member of the bitcointalk.org forums. Identity information has been provided privately to cryptostocks as a gesture of good faith, and an avenue for emergency contact. 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 untimely demise or hospitalization. Disclaimer & 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. |
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Hey, what's up? Can't log in... Hope you guys didn't go Boiler Room on us. Or is it just me?  Not everytime a pokersite has a downtime, they boiler room :p Our hosting messed up installation of a certificate which broke down big parts of the server. All should be solved now. |
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Announcing fix on PLO8 games and pot bet button
Dear players,
We have managed to fix the flaws in Omaha Hi/Lo and the bugs in the pot bet button and thus our O8 games are fully up and running
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Our apologies for the delay in withdrawals. We think we have everything solved now. We started processing withdrawals manually. We will process withdrawals 4 times a day and verify if all the withdrawals are processed correctly before moving back to automated withdrawals. Please check our support forum http://grindabit.discussioncommunity.com/?forum=307081 to keep updated on the issue. |
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Important Change in Rake Structure 9/10/2013- Rake has been lowered to 1% (lowest in the entire poker world)
- Rakecap has been dropped to just 100 chips!
- Heads up games are now RAKE FREE (lowstakes)
You asked for it! We listened!!! Enjoy the games! Stay tuned for many more exciting changes to come.
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We had everything wrapped up but one of the investors backed out at the last moment. We are still open to sell at most 1% of the company. If interested, please send a PM
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There were some cashout issues because of wallet change in our backend. all is solved and withdrawals have been processed
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Hi!
My electrum wallet shows only transactions up till 30 july and shows only the balance up till that time.
How can i make it reload all the transactions and get it to show my coins? There are over 150 coins in that wallet...
I hope somebody can help out
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Due to the large request we have added two extra tournaments to our schedule:
at 6:30PM we will be hosting a 220 buyin 1k guaranteed PLO tournament
at 8:00PM we will be hosting a daily 300 chip PLO freeroll
any suggestions regarding tournaments are welcome!
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Sunday 50K will start in an hour. Seems like the field will be bigger this week  U playin? |
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Hello SkRRJyTC,
Early on in the tournament, MrRoll doubled up against you with a ridiculously bad hand. After that you cursed him out in the chat and folded every hand to have Crosby eliminated first. You have accused MrRoll in that tournament of colluding with Crosby and he replied: “No, I just don't want you to make the money after scolding me like that”. You replied: “I will never play against you again”.
The main question here is whether this play (folding to a sit-out player) is collusive or not. After reviewing the matter internally, we feel this play was not collusive given the situation described above. He targeted you to get you out first and adjusted his play, and could have achieved this with anyone sitting out.
You adjusted your strategy to get Crosby out first and take 2nd place. You adjusted your strategy solely to get Crosby out before getting eliminated yourself. To us this is all perfectly legal play, as we can’t force a player to raise into an a sit-out, just like we can’t force a player to play his good hands like AJ and 99 instead of folding them because they believe to have a better chance of making the money.
For collusion, 2 players have to be working together to gain an unfair advantage over an opponent, so the question is whether Crosby and MrRoll were colluding, and our opinion and conclusion is that they were not.
We hope this satisfies any similar questions and/or concerns.
Thanks and good luck at the tables!
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hydroponica
jefe541
HollowIP- thanks  Done |
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'I want to link my Bitcointalk name with BTCJam's. Verification code: 75738797-d572-43dc-9c82-a370060d9c7d'
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