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Author Topic: [CLOSED] S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx  (Read 315724 times)
boonies4u
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July 18, 2013, 07:34:51 AM
 #1981


What exactly was the point of the whole IPO then? No one would have put a penny into it if they knew this would be the result. At least admit that it was a total failure for everyone but yourself.

If getting investors a 20% real return in 9 months and getting their original capital back despite 9x exchange rate increase is a "total failure" then I hope to have many more.

My god you are a sociopath.

Really now? He brought a profit to his investors. I'm sure some of them would liked to have stayed involved with Satoshi Dice, but it seems that he was sure to outline that he could pull shit like this off at his own discretion.

From an investor's point of view I do not think it is very reasonable to use the BTC as numeraire due to its lack of capital pools and incredible volatility. Pretty much anyone who bought between April 2012 and March 2013 [would include all IPO investors and even many non-IPO investors] who have held for the long-term have had tremendous returns using the USD as numeraire.

Why would Erik have sold bitcoins while Satoshi Dice was/is operating? If he had been regularly selling profits, then buying back shares at this rate would likely not be possible to begin with.
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July 18, 2013, 07:44:08 AM
 #1982

Why would Erik have sold bitcoins while Satoshi Dice was/is operating?

I fail to see why that question is relevant to anything we are discussing.

boonies4u
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July 18, 2013, 07:59:20 AM
 #1983

Why would Erik have sold bitcoins while Satoshi Dice was/is operating?

I fail to see why that question is relevant to anything we are discussing.

see

From an investor's point of view I do not think it is very reasonable to use the BTC as numeraire due to its lack of capital pools and incredible volatility. Pretty much anyone who bought between April 2012 and March 2013 [would include all IPO investors and even many non-IPO investors] who have held for the long-term have had tremendous returns using the USD as numeraire.

Why would people use USD as the numeraire for an investment in a service whose website cannot even be accessed from the United States? Why would people use Fiat as the numeraire for a website that only operates in crypto?

Why would people invest in Satoshi Dice when they cannot appreciate the volatility of bitcoin? The market forgives no one.
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July 18, 2013, 08:10:47 AM
 #1984


What exactly was the point of the whole IPO then? No one would have put a penny into it if they knew this would be the result. At least admit that it was a total failure for everyone but yourself.

If getting investors a 20% real return in 9 months and getting their original capital back despite 9x exchange rate increase is a "total failure" then I hope to have many more.

My god you are a sociopath.

SatoshiDice IPOed at 0.0032/0.0034/0.0037 per share

0.00073865 BTC per share where paid. 0.0035 will be paid for for the sale of SD.

0.0035 + 0.00073865 = 0.00423865 BTC per share returned vs IPO price. I fail to see the issue here. It was a great IPO and the stock performed well. Sure, it wasn't as good as it could have, but quite decent regardless. I sure would put a pretty penny into such an IPO again even if I knew it would be sold and shares bought back later.
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July 18, 2013, 08:23:01 AM
 #1985

Why would people use USD as the numeraire for an investment in a service whose website cannot even be accessed from the United States? Why would people use Fiat as the numeraire for a website that only operates in crypto?

Why would people invest in Satoshi Dice when they cannot appreciate the volatility of bitcoin? The market forgives no one.

Do you understand what the purpose of a numeraire is? Bitcoin is a horrible numeraire because, as stated earlier, the capital pools are so limited and the extreme volatility. Bitcoin is nowhere near being developed enough as a monetary instrument to be using it reliably as a numeraire. There is no other instrument comparable to the USD's or EUR's depth of capital pools.

Using USD or EUR as a base presentation currency for investments that operate only in crypto is not very difficult; just look at IAS 1. There are plenty of reasons people may invest in SD, mining operations, etc. instead of Bitcoin and that is because of the potential returns when using a solid numeriare like USD or EUR.

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July 18, 2013, 08:59:14 AM
 #1986

Do you understand what the purpose of a numeraire is? Bitcoin is a horrible numeraire because, as stated earlier, the capital pools are so limited and the extreme volatility. Bitcoin is nowhere near being developed enough as a monetary instrument to be using it reliably as a numeraire. There is no other instrument comparable to the USD's or EUR's depth of capital pools.

Using USD or EUR as a base presentation currency for investments that operate only in crypto is not very difficult; just look at IAS 1. There are plenty of reasons people may invest in SD, mining operations, etc. instead of Bitcoin and that is because of the potential returns when using a solid numeriare like USD or EUR.

I'm not saying that people didn't lose. I'm confused, are you saying that people who invested in Satoshi Dice expected/hoped to get a certain return in USD, despite the obvious volatility of bitcoin? Or are you just observing that if someone bought bitcoins with USD to purchase Satoshi Dice shares within a certain range of dates that would net them a loss in terms of USD.

I just don't see how someone could have invested in Satoshi Dice without realizing that their USD profits would be impacted by bitcoins' volatility.

I understand how people could invest in certain businesses/industries related to bitcoin and expecting return in USD. I also realize that depending on the business/industry they choose their profits with be impacted by volatility.

Edit : The point I'm trying to make is that the volatility of bitcoin has an effect on whether or not investing in Satoshi Dice was a good idea in the end. (this of course depends on how/when/at what price people acquired their bitcoin to invest in Satoshi Dice. However just because bitcoin is volatile does not mean that Erik has wronged anyone by forcing this buyback.
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July 18, 2013, 09:09:42 AM
 #1987

Congrats  Smiley
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July 18, 2013, 09:50:51 AM
 #1988

I highly value and respect the trust you have placed in me, and I hope this outcome reciprocates that respect.

It is important to keep in mind that, since the IPO, 73865 satoshi per share has been paid out - a 23% return for the first block of shares. All IPO shares will have at least broken even with this sale.

I can't imagine the sale was particularly easy to push through, so this is an impressive result overall. Considering the tight spot that SD has found itself in recently, the outcome is reasonably equitable.

For those who profited, bravo. To those who lost, know that we all have at some point - learn and move on with that knowledge; you'll be that much better in future dealings. I am glad to have witnessed another chapter in the Bitcoin saga come to a close.

Especially seeing how this'd be the first happy end in history.

Love how what has ended up as one of the biggest scams in bitcoin history, ends up with half the people applauding and saying 'well done'.

Love how when people act honestly, follow and even exceed the requirements of mutually agreed contracts, and take care of investors above themselves, there are still internet trolls to call it a scam.

If there weren't, would't you suspect you're on the wrong Internet?

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July 18, 2013, 09:52:21 AM
 #1989

Gratz Erik and others involved (unfortunately not me).

The outcome is amazingly good, you're always going to have haters unfortunately (even if you cure all cancer/aids/world hunger, etc), you will still have haters.

Not to be a biatch, but people should look outside their box and see what happens in the real world and then look at what Erik's done, and realise he's been damn great about it.
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July 18, 2013, 10:03:17 AM
 #1990

Congratulations Erik. One of the people I think really deserves this. Smiley
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July 18, 2013, 10:03:59 AM
 #1991

As IPO investor I'm glad for this happy ending, though I planned to hold the shares for much longer. It was a nice ride. Thanks Eric and good luck in your future endeavors.
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July 18, 2013, 10:13:46 AM
 #1992

As IPO investor I'm glad for this happy ending, though I planned to hold the shares for much longer. It was a nice ride. Thanks Eric and good luck in your future endeavors.
this

I hope you will continue as a patron advocating Bitcoin.  Smiley

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July 18, 2013, 10:17:12 AM
 #1993

Congrats Erik. You did a good job despite of the trolls.

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July 18, 2013, 10:19:25 AM
 #1994

As someone who "lost" more than most on this deal, I'm still happy for Erik and will be happy to see him focus on other efforts like coinapult (international numbers soon, kthx!)

Congrats Erik, if there was ever a time to scream this and mean it, its now: http://www.youtube.com/watch?v=Rs6kT_0H1MI

Bro, do you even blockchain?
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July 18, 2013, 11:37:26 AM
 #1995

Well done Erik! I hope you will have the same success with coinapult.

Regards,
Michael

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July 18, 2013, 11:44:32 AM
 #1996

Congrats on finding your long lost invisible twin brother Eri, and I do hope he will keep running sdice as efficiently as ever.
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July 18, 2013, 12:07:58 PM
 #1997


SatoshiDice is being sold, in full, to a new company that will take over all ownership, operations, and management.  The total sale price is 126,315 BTC, or 0.00126315 BTC per share.


Just curious, did you receive payment in bitcoins or in some other currency (e.g. USD)?
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July 18, 2013, 12:14:12 PM
 #1998

I am going to develop my own dice game better than sdice anyoen interested

Oddly, no

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July 18, 2013, 12:31:55 PM
 #1999

I am going to develop my own dice game better than sdice anyoen interested

Oddly, no
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July 18, 2013, 01:30:15 PM
 #2000

niet
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