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Author Topic: [CLOSED] S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx  (Read 315719 times)
Abu22
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May 16, 2013, 04:14:37 AM
 #1481

That makes a litecoin transaction with 100 confirmations 10 times less "secure" than a bitcoin transaction with 100 confirmations (given the above assumptions).

Is there anything wrong with this argument?  If so, where?

Not sure of this myself, but do Litecoin confirmations not occur faster than Bitcoin? So to compare 100 confirmations on each side would just be imagining up a situation that 'never' occurs. Would it not be more accurate to find how many Litecoins confirmations are made by the time 100 Bitcoin ones are done. Then compare them .

 eg. 1/3/12/24/96 hrs worth of confirmations each = which will have the highest security.

But comparing 1 Litecoin confirmation to 1 Bitcoin confirmation is somewhat pointless when leaving out other factors.

Disclaimer: I have no idea whether what I'm saying is true or false...If anybody has more time than I, proof or disproof of the above theory would be noice. (While we wait a few more weeks for any SD staff to reply on the posts directed at them above -.-)
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SatoshiDICE_PR
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May 16, 2013, 04:53:29 AM
 #1482

Dear Community,

Beginning tomorrow, Thursday May 16, SatoshiDice.com will close to US players and all US-based IP’s will be blocked from the website. You will also see a new terms of service agreement to which you must
agree if you wish to play.

This decision was made on the basis of extensive legal counsel. The best way to limit legal risk for SatoshiDice, and thereby protect its stakeholders, is to block US players.

Note that this decision does not mean that online gambling is illegal in the US, nor does it mean that Bitcoin gaming is illegal. However, the courts have not been clear on the definition of gambling, nor
on what would constitute “legitimate gaming,” nor are jurisdictions properly defined, and thus this is a proactive measure to protect those involved in the project.

Further, this decision is not being made because of any citation or notice from any government agency, whatsoever. This is not, in any way, related to the recent Gox/Dwolla court order issue. Again, it is a proactive measure, based on the prudent legal guidance of our trusted lawyers.

We believe this is a wise move for the site to perpetuate in the long term. 

Further, to clarify, SatoshiDice is hosted in Netherlands, Iceland, and Ireland, and has never utilized US currency or engaged with the US banking system whatsoever. 
-SD

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May 16, 2013, 04:55:35 AM
 #1483

Wow.
TradeFortress 🏕
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May 16, 2013, 04:59:16 AM
 #1484

Dump.

I guess you can still send to address, how long will it be when there's SatoshiFans conveniently having a copy of the homepage?  Wink
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May 16, 2013, 05:19:07 AM
 #1485

And down goes the share-value. 
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May 16, 2013, 05:36:48 AM
 #1486

Not sure of this myself, but do Litecoin confirmations not occur faster than Bitcoin? So to compare 100 confirmations on each side would just be imagining up a situation that 'never' occurs.

I was attempting to argue against the statement that:

Quote
6 Litecoin confirmations are approximately as secure as 6 Bitcoin ones.

Would it not be more accurate to find how many Litecoins confirmations are made by the time 100 Bitcoin ones are done. Then compare them .

That's what I would think.  If the two networks have the same processing power doing the hashing, then an hour's worth of blocks on one network is as secure as an hour's worth on the other.  It doesn't matter that litecoin blocks are "faster" - the amount by which they are faster is the same as the amount by which each one is also "weaker".

But comparing 1 Litecoin confirmation to 1 Bitcoin confirmation is somewhat pointless when leaving out other factors.

Well, except when people are trying to tell you that all confirmations are equal.  That a litecoin confirmation is just as 'secure' as a bitcoin one.

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May 16, 2013, 05:39:26 AM
 #1487

The best way to limit legal risk for SatoshiDice, and thereby protect its stakeholders, is to block US players.

OK, but is it in any way possible to block US players?  How can you even tell where a bet transaction comes from?

You can block them from reading your website but I don't think you can block them from playing.

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May 16, 2013, 05:56:10 AM
 #1488

The best way to limit legal risk for SatoshiDice, and thereby protect its stakeholders, is to block US players.

OK, but is it in any way possible to block US players?  How can you even tell where a bet transaction comes from?

You can block them from reading your website but I don't think you can block them from playing.
That's impossible to do, a transaction from My Wallet will always have a relay address of My Wallet's IP for example, and relaying IP != IP of who sent it.

Anyway, I'm quite happy I caught the news before the market reacted and dumped by SDICE shares, go F5ing forums Cheesy
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May 16, 2013, 06:59:24 AM
 #1489

Woo all time low!

1: Can the SatoshiDicePR please demonstrate somehow that you are indeed the real elected PR for SD. (And not some scammer trying to effect the market through FUD and false claims)

2. If this IS true, the actions taken are useless. It does not prevent any U.S users from using SD. (particularly if you just added a standalone client for it too) ...A disclaimer on the page saying "If you are located in the U.S.A please don't make any bets" ...They shouldn't be barred from analysing the bets taking place, big wins, losses. Unnecessary hiding of information.

3. Preemptive action like this is stupid. If the U.S government finds your site to be against their rules and regulations let them bring it up with you, or let them go about black listing it. Mitigating a possible problem before it occurs is a good idea, but in this scenario you're shooting yourself in the foot, when you could easily wait to see if it ever becomes a problem and if it does possibly comply with their requests.

4. This is piss shit poor management. News like this should have been nor openly disclosed earlier that you where getting legal counseling that may end with you making a decision like this.

Erik...You used to be cool man, what happened. All you do now is cover your own arse with lead enforced platinum shielded velvet.
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May 16, 2013, 06:59:56 AM
 #1490

Could S.Dice have a new CEO or something? One that tries to drive the share value up instead of down..
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May 16, 2013, 07:08:46 AM
 #1491

Abu22, here: https://bitcointalk.org/index.php?topic=77870.msg2104349#msg2104349

Evoorhees confirms this is an official representative.
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May 16, 2013, 07:22:47 AM
 #1492

What a bizarre decision.

I guess that's what you ge with non-voting shares.


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May 16, 2013, 07:24:32 AM
 #1493

What a bizarre decision.

I guess that's what you ge with non-voting shares.


Eh, Erik / others still have a majority..
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May 16, 2013, 07:41:10 AM
 #1494

What a bizarre decision.

I guess that's what you ge with non-voting shares.


Eh, Erik / others still have a majority..

Historically the only reason a company puts out non-voting shares is so that when they decide to restructure the company they can cut out the shareholders. I wouldn't buy non-voting shares of /anything/ unless my life depended on it. Just look at what happened to Yellow Media in Canada last year or two for a really great example.

In short, don't pay attention to what the clowns in the white shirts say on TV. Just watch what the company does and come to your own decision based on that.
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May 16, 2013, 08:05:17 AM
 #1495

Disaster. How much will this kill the revenue and traffic. Pretty much destroyed the business.
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May 16, 2013, 08:15:21 AM
Last edit: May 16, 2013, 08:52:26 AM by Stunna
 #1496

Everyone should wait for confirmation of this before they come to these conclusions. Doesn't make sense to me that a PR rep would say this and not evorhees himself.

If someone phished the PR account they could have posted this info, bought up a ton of cheap shares then wait for shares to rise following an official statement.

At this point it is too early to sell whether it is real or fake.

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May 16, 2013, 08:16:18 AM
 #1497

Everyone should wait for confirmation of this before they come to these conclusions. Doesn't make sense to me that a PR rep would say this and not evorhees himself.
I agree, however it would be shoddy management if EV pissed off the PR rep or didn't tell the PR rep to take substantial security precautions.
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May 16, 2013, 08:52:57 AM
 #1498

Everyone should wait for confirmation of this before they come to these conclusions. Doesn't make sense to me that a PR rep would say this and not evorhees himself.
I agree, however it would be shoddy management if EV pissed off the PR rep or didn't tell the PR rep to take substantial security precautions.

 Very true.

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May 16, 2013, 10:52:10 AM
 #1499

Yep I asked for confirmation as well and mailed him not alone I bet guess were waiting on that
Also if it was bad security that would be a ... too
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May 16, 2013, 11:02:53 AM
 #1500

The best way to limit legal risk for SatoshiDice, and thereby protect its stakeholders, is to block US players.

OK, but is it in any way possible to block US players?  How can you even tell where a bet transaction comes from?

You can block them from reading your website but I don't think you can block them from playing.

Ah ha ha.

Bitcoin is the SUPERMAN of currency!  It can't be blocked by mere mortals.
SatoshiDice can't block US customers any more than it can block customers who have red cars parked in their garage.

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