[CLOSED] S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx

[RationalSpeculator]

I'm confused about the limits of bitcoin when it comes to amount of transactions. From the discussion about the blocksize limit it looks like many believe that 1 decentralized cryptocurrency will never be able to support the current amount of banking transactions (and thus will need to become a large transactions only currency). But is that true? I would think that the exponential growth of personal computer power, can keep up with the exponential growth of amount of transactions?

Systems like Ripple and MtGox codes allow bitcoins to be sent between users without actually filling the blockchain. If bitcoins continue to grow, then maybe it will be beneficial to switch SatoshiDice to an account-based system where deposits and withdrawals go on the blockchain but most bets are handled internally. My point is that there will be ways for bitcoins to continue being used in many different ways, systems being built on top of bitcoins are a better option than having a bunch of separate cryptocurrencies.

That's not answering my question.

[Peter Lambert]

I'm confused about the limits of bitcoin when it comes to amount of transactions. From the discussion about the blocksize limit it looks like many believe that 1 decentralized cryptocurrency will never be able to support the current amount of banking transactions (and thus will need to become a large transactions only currency). But is that true? I would think that the exponential growth of personal computer power, can keep up with the exponential growth of amount of transactions?

Systems like Ripple and MtGox codes allow bitcoins to be sent between users without actually filling the blockchain. If bitcoins continue to grow, then maybe it will be beneficial to switch SatoshiDice to an account-based system where deposits and withdrawals go on the blockchain but most bets are handled internally. My point is that there will be ways for bitcoins to continue being used in many different ways, systems being built on top of bitcoins are a better option than having a bunch of separate cryptocurrencies.

That's not answering my question.

Okay, let me try again:

Yes it's true, bitcoins will become a large transaction system (or small transactions if you are willing to pay for the anonominity (wtf is the correct spelling?)).

No it's not true, bitcoins will be able to handle the current amount banking transactions if you include all the support systems built on top of them, the blockchain just is not scaleable to hold the entire system itself.

What this means for SatoshiDice is that they will have to alter their system over time. But that is why they pay so much for technical support, so that they can keep up and running despite systemic changes.

[Abu22]

Okay, let me try again:

Yes it's true, bitcoins will become a large transaction system (or small transactions if you are willing to pay for the anonominity (wtf is the correct spelling?)).

No it's not true, bitcoins will be able to handle the current amount banking transactions if you include all the support systems built on top of them, the blockchain just is not scaleable to hold the entire system itself.

What this means for SatoshiDice is that they will have to alter their system over time. But that is why they pay so much for technical support, so that they can keep up and running despite systemic changes.

Yea, SDice really needs to hurry up and add accounts along side no account betting. That way they can have almost instant win/loss notifications, save on costs with bulk payouts, stop bloating the blockchain so much if people adopt this account shiz niz. Pretty much all other gambling websites (using btc) have done this, yet SD refuses to leave the dark ages of the crypo era.

SD needs, if they wanna stay competitive:
- Accounts / along side their current system
- New games, inclusive of their current game.
- Friendlier UI (It's still just a shit tonne of numbers on a screen)
- Chat features, both text voice and video for certain rooms/games
- BTC related advertisement's. (Yes we all hate ad's, but because Bitcoin is in it's infancy right now it's imperative that we give new business the ability to gain public eye to a community of people more susceptible to seeing value in that business. Extra revenue, along side supporting BTC growth is certainly not a bad thing. I would implore all large and successful Bitcoin companies to implement some sort of unobtrusive advertising block on their site, while allowing them to vet who they deem to be appropriate and charge on the same basis too.

If ANY of these suggestions get implemented I guarantee it will have a positive effect on share prices, SD usage and consumer enjoyment.

Take em' they're free.

[RationalSpeculator]

the blockchain just is not scaleable to hold the entire system itself.

Thanks, why not? (considering the blockchain is able to handle all transactions today, and can scale up exponentially because personal computer power also scales up exponentially)

[Abu22]

the blockchain just is not scaleable to hold the entire system itself.

Thanks, why not? (considering the blockchain is able to handle all transactions today, and can scale up exponentially because personal computer power also scales up exponentially)

Yea, I don't think it's that much of a critical issue of blockchain bloat, considering Internet is getting faster and memory larger and cheaper...However, combating these issues now with easily implementable practices to reduce the dust tx's is a step forward (however I don't really agree with inbuilt 264*? satoshi limit hard coded) ...It's about making easy alternatives that are on par or better than the current methods. 1 satoshi tx's should be allowed but we should minimize where they are needed. 

[Jonny Heggheim]

Yea, SDice really needs to hurry up and add accounts along side no account betting. That way they can have almost instant win/loss notifications, save on costs with bulk payouts, stop bloating the blockchain so much if people adopt this account shiz niz. Pretty much all other gambling websites (using btc) have done this, yet SD refuses to leave the dark ages of the crypo era.

SD needs, if they wanna stay competitive:
- Accounts / along side their current system
- New games, inclusive of their current game.
- Friendlier UI (It's still just a shit tonne of numbers on a screen)
- Chat features, both text voice and video for certain rooms/games
- BTC related advertisement's. (Yes we all hate ad's, but because Bitcoin is in it's infancy right now it's imperative that we give new business the ability to gain public eye to a community of people more susceptible to seeing value in that business. Extra revenue, along side supporting BTC growth is certainly not a bad thing. I would implore all large and successful Bitcoin companies to implement some sort of unobtrusive advertising block on their site, while allowing them to vet who they deem to be appropriate and charge on the same basis too.

If ANY of these suggestions get implemented I guarantee it will have a positive effect on share prices, SD usage and consumer enjoyment.

I disagree, keep it simple! The blockchain need to handle this load, or else Bitcoin will be a useless payment system.

[romerun]

when bitcoin supports messaging along side with transaction, the sd dust should switch to it.

I love to see SD account bet, it's a lot more interactive than blockchain bet. I tried satoshicircle and primedice the other days, I felt like if they have reputation and house money as much SD have, they will kill sdice no doubt, because it's a lot more fun, the result is always instant, although it won't be available to US customers.

[RationalSpeculator]

when bitcoin supports messaging along side with transaction, the sd dust should switch to it.

I love to see SD account bet, it's a lot more interactive than blockchain bet. I tried satoshicircle and primedice the other days, I felt like if they have reputation and house money as much SD have, they will kill sdice no doubt, because it's a lot more fun, the result is always instant, although it won't be available to US customers.

That last point is kind of important...

Sdice on the blockchain is also amazing marketing.

Are these competitors gaining market share?

[romerun]

No idea, they are just two examples of hundreds of these sites, it could be a reason for whales disappearance.

Also, for the Altcoins support, since I don't see it's coming soon maybe forever, we could take the matter in our own hands making an unofficial sdice site, that do the coin conversion before sending it to the offical sdice. It could be optimized to be better than users going thru BTC-e themselves, for example, if user deposits LTC in the system, if there's no BTC available to convert internally, we will send it to BTC-e to convert, then send that BTC to official SDICE, if it's a winning bet, user has option to withdraw BTC out, or exchange it for LTC internally, so that the next LTC transactions do not need to go thru BTC-e over again. Of course the system can support other coins and exchanges as well.

I could make such a site for free as for being a miserably shareholder.

[Abu22]

Yea, that's something I forgot to add to the list, alt coin additions.

lol, they could make a killllllllllinnnngggg if Erik bought tonnes of LTC, creates SDice Litecoin addon, sell LTC.

I can't believe how the opportunity of SDice is getting slipped through the fingers...It's really got nothing much behind it except for the fact it was the first on the scene and as such got a nice head start on gaining market cap... It's doing nothing to keep it though.

I disagree, keep it simple! The blockchain need to handle this load, or else Bitcoin will be a useless payment system.

Of course it can handle this load, but you don't drive your car in 1st gear all the time just cuz it should be able to deal with it. Disagreeing with the wish for more innovation is foolish at best.

[Korbman]

lol, they could make a killllllllllinnnngggg if Erik bought tonnes of LTC, creates SDice Litecoin addon, sell LTC.

Hypothetical situation...

EV adds the option to play SD with Litecoins. In the first month, the site makes a profit of 40,000 LTC...but what does Erik do with it?

Suppose he decides he likes Bitcoin a bit better and wants to convert the LTC profit to BTC. Do you really think the Litecoin markets can handle a dump of 40,000 coins at one time? [HINT: The answer is 'no'] ..or what if Erik becomes a bit nefarious? The amount of Litecoins he'd have on hand would surely be enough to manipulate the market at any time given LTC volumes aren't nearly that much compared to Bitcoin.

Introducing exchange risk into your business is a terrible idea.

[fluidjax]

Has Eric got a plan? where is SD going? are we just waiting to be overtakes by a competitor?
I don't expect details that would compromise the competitive advantage, but a little information would be helpful!

[ThickAsThieves]

Has Eric got a plan? where is SD going? are we just waiting to be overtakes by a competitor?
I don't expect details that would compromise the competitive advantage, but a little information would be helpful!

Expect delivery in 2 weeks.

[fluidjax]

Has Eric got a plan? where is SD going? are we just waiting to be overtakes by a competitor?
I don't expect details that would compromise the competitive advantage, but a little information would be helpful!

Expect delivery in 2 weeks.

Is that a BFL 2 weeks?

[ThickAsThieves]

Has Eric got a plan? where is SD going? are we just waiting to be overtakes by a competitor?
I don't expect details that would compromise the competitive advantage, but a little information would be helpful!

Expect delivery in 2 weeks.

Is that a BFL 2 weeks?

Aren't they all?

[Carnth]

Expect delivery in 2 weeks.

Is that a BFL 2 weeks?

Aren't they all?

I can't decide which is longer (less reliable):

BFL time or Valve Time.

[Abu22]

Has Eric got a plan? where is SD going? are we just waiting to be overtakes by a competitor?
I don't expect details that would compromise the competitive advantage, but a little information would be helpful!

Expect delivery in 2 weeks.

Being serious or rtying to be funny? From where do you source this info?

[ThickAsThieves]

Has Eric got a plan? where is SD going? are we just waiting to be overtakes by a competitor?
I don't expect details that would compromise the competitive advantage, but a little information would be helpful!

Expect delivery in 2 weeks.

Being serious or rtying to be funny? From where do you source this info?

"2 weeks" is a copyright of the Butterfly Labs Corporation. All Rights Reserved.

[carpetbagger]

Has Eric got a plan? where is SD going? are we just waiting to be overtakes by a competitor?
I don't expect details that would compromise the competitive advantage, but a little information would be helpful!

At the end of this month, I'll detail the current expenses and what people can expect going forward.

Less than 2 weeks away.

[MPOE-PR]

I could make such a site for free

And that's pretty much exactly what it'd be worth.

Again and again this has to be repeated: it's not the site, stupid. Go make a facebook for free, it's not that hard and it won't matter any more than the previous Winkleloss-backed project mattered.

No idea why this is so hard, but anyway.