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

[bitcoinbear]

Satoshidice.com is worth 960 usd. http://www.uglystat.com/www/satoshidice.com 

Aren't they too optimistic? 

Not if you consider the fact that there are over 960 usd of bids for s.dice and value things at what people will currently pay for them.

They probably don't even know that you can buy shares of S.Dice which controls satoshidice.com. They value they assign seems to be correlated to the global activity of the website, not the underlying service or stock. It is more of a "How much is advertising on satoshidice.com worth", rather than "how much is the company satoshidice worth".

[MPOE-PR]

They probably don't even know that you can buy shares of S.Dice which controls satoshidice.com. They value they assign seems to be correlated to the global activity of the website, not the underlying service or stock. It is more of a "How much is advertising on satoshidice.com worth", rather than "how much is the company satoshidice worth".

"How much would a website with this level of traffic be worth if our assumptions about how we measure traffic, how ad revenue relates to that traffic and how company value relates to ad revenue are correct?". Or something.

[burnside]

They probably don't even know that you can buy shares of S.Dice which controls satoshidice.com. They value they assign seems to be correlated to the global activity of the website, not the underlying service or stock. It is more of a "How much is advertising on satoshidice.com worth", rather than "how much is the company satoshidice worth".

"How much would a website with this level of traffic be worth if our assumptions about how we measure traffic, how ad revenue relates to that traffic and how company value relates to ad revenue are correct?". Or something.

Yeah, they know nothing about the revenue of the business behind the site.

[smickles]

Satoshidice.com is worth 960 usd. http://www.uglystat.com/www/satoshidice.com 

Aren't they too optimistic? 

Not if you consider the fact that there are over 960 usd of bids for s.dice and value things at what people will currently pay for them.

It was a joke. May I ask why you Smickles push so hard for S.DICE? I see you bump the thread quite often with no important things to say.

Heh, forgive me not seeing that as a joke from you.

[bitcoinbear]

They probably don't even know that you can buy shares of S.Dice which controls satoshidice.com. They value they assign seems to be correlated to the global activity of the website, not the underlying service or stock. It is more of a "How much is advertising on satoshidice.com worth", rather than "how much is the company satoshidice worth".

"How much would a website with this level of traffic be worth if our assumptions about how we measure traffic, how ad revenue relates to that traffic and how company value relates to ad revenue are correct?". Or something.

Yeah, they know nothing about the revenue of the business behind the site.

Not only that, but putting a price on a website based only on the visits it gets is tenuous at best, since if you bought the site from the current operators, all those visitors are not going to keep coming and using your new site with the old name just because it has the same name as what they used to use, they will treat it as a new site and reconsider whether to use it or not.

[evoorhees]

Hey all, quick update - the Nov. dividend for S.DICE will go out within 24 hrs. I apologize for the delay, just got back from Hong Kong and Macau!

[MPOE-PR]

Hey all, quick update - the Nov. dividend for S.DICE will go out within 24 hrs. I apologize for the delay, just got back from Hong Kong and Macau!

How did things go? Blogpost?

[evoorhees]

Hey all, quick update - the Nov. dividend for S.DICE will go out within 24 hrs. I apologize for the delay, just got back from Hong Kong and Macau!

How did things go? Blogpost?

Things went great!  Here's a snippet:  http://calvinayre.com/2012/11/30/conferences/social-gaming-asia-summit-summary-ao-video

Bitcoin is mentioned at 1:45 and the full Bitcoin-only interview will be put up at CalvinAyre probably this week. Notice in that article, "The stars of the conference were the team from BitInstant.com." 

We had a couple very interesting meetings with some business owners down there. I cannot give specifics because it has to do with people trying to circumvent capital controls... but suffice to say that Macau has started to learn about Bitcoin and the casinos there are going to become increasingly interested. From one guy who ran some VIP gambling rooms, he told us, "I need to learn about this right away because within a few months every casino is going to be using this stuff."  I think his timeframe is a bit optimistic, but he understood that it's a matter of "when" not "if." 

The audience thought SatoshiDice was awesome, and a representative from the Isle of Man government has now become very interested in assisting Bitcoin companies with a friendly jurisdiction (BitInstant, and perhaps SatoshiDice, will be in further talks with him over the coming weeks).

[evoorhees]

November Statement

The dividend for S.DICE has now been paid for November. It was a great month! Enough profit was earned not only to cover the -2k loss from Oct, but even so, over $4k in net earnings on top of that was achieved.

Summary:
Earnings:   6146.78744309
Hosting/Tech Expenses:   60
Loss Carryover from Oct: -2071.07115151
  
Net Profit   4015.71629158
10% MPEX Dividend   401.57162915  

Volume over past 30 Days   180,827.90
Actual Profit over past 30 Days  6146.78744309
Expected Profit over past 30 Days   3435.73008515

Updated P&L: https://docs.google.com/spreadsheet/ccc?key=0Aiec3-Eo_yO5dG5SQklHZG4wRm1GMW9DRWpMMW5UQkE#gid=7

S.DICE shareholders earned over 15% interest on an annualized basis from the month of November. Booyaa.

[evoorhees]

Today SatoshiDICE hit 2 million bets placed.

Please upvote here if you can: http://www.reddit.com/r/gambling/comments/14cepn/satoshidicecom_hits_2_million_bitcoin_bets_over/

[MPOE-PR]

Things went great!  Here's a snippet:  http://calvinayre.com/2012/11/30/conferences/social-gaming-asia-summit-summary-ao-video

Bitcoin is mentioned at 1:45 and the full Bitcoin-only interview will be put up at CalvinAyre probably this week. Notice in that article, "The stars of the conference were the team from BitInstant.com." 

We had a couple very interesting meetings with some business owners down there. I cannot give specifics because it has to do with people trying to circumvent capital controls... but suffice to say that Macau has started to learn about Bitcoin and the casinos there are going to become increasingly interested. From one guy who ran some VIP gambling rooms, he told us, "I need to learn about this right away because within a few months every casino is going to be using this stuff."  I think his timeframe is a bit optimistic, but he understood that it's a matter of "when" not "if." 

The audience thought SatoshiDice was awesome, and a representative from the Isle of Man government has now become very interested in assisting Bitcoin companies with a friendly jurisdiction (BitInstant, and perhaps SatoshiDice, will be in further talks with him over the coming weeks).

Oh that's great. Props!

[Stephen Gornick]

I very much doubt they would still be allowing 0-confirmation bets if they were seeing such an attack happening.

There is a person reporting success in two of three attempts to double spend against the site.

The tactic is to create the initial spend using a spam-like transaction (e.g., over 1K of data, from lots of small transactoins) and pay no fee.

That transaction will not confirm anytime soon -- perhaps for many hours. 

If the bet ends up being a losing bet, then from a another client, create the double spend transaction and include a nice fee.  The client will transmit and rebroadcast the double spend transaction.  Most peers won't accept the transaction as it is a double spend, others do and also will try to relay it.  Eventually a miner (apparently using a custom client that will prefer the replacement transaction with the higher fee) will mine a block that includes the second (double-spend) transaction.

Here's the thread on that:
 - http://bitcointalk.org/index.php?topic=130764.msg1401014#msg1401014

[Bugpowder]

Today SatoshiDICE hit 2 million bets placed.

Please upvote here if you can: http://www.reddit.com/r/gambling/comments/14cepn/satoshidicecom_hits_2_million_bitcoin_bets_over/

Not to mention over 2 million shares of the IPO sold yesterday as well...  Only 539,000 left before the second Tier sells out.

[MPOE-PR]

I very much doubt they would still be allowing 0-confirmation bets if they were seeing such an attack happening.

There is a person reporting success in two of three attempts to double spend against the site.

The tactic is to create the initial spend using a spam-like transaction (e.g., over 1K of data, from lots of small transactoins) and pay no fee.

That transaction will not confirm anytime soon -- perhaps for many hours. 

If the bet ends up being a losing bet, then from a another client, create the double spend transaction and include a nice fee.  The client will transmit and rebroadcast the double spend transaction.  Most peers won't accept the transaction as it is a double spend, others do and also will try to relay it.  Eventually a miner (apparently using a custom client that will prefer the replacement transaction with the higher fee) will mine a block that includes the second (double-spend) transaction.

Here's the thread on that:
 - http://bitcointalk.org/index.php?topic=130764.msg1401014#msg1401014

This is a pretty big deal.

Today SatoshiDICE hit 2 million bets placed.

Please upvote here if you can: http://www.reddit.com/r/gambling/comments/14cepn/satoshidicecom_hits_2_million_bitcoin_bets_over/

Not to mention over 2 million shares of the IPO sold yesterday as well...  Only 539,000 left before the second Tier sells out.

Interesting how those numbers match up!

[Bugpowder]

Today SatoshiDICE hit 2 million bets placed.

Please upvote here if you can: http://www.reddit.com/r/gambling/comments/14cepn/satoshidicecom_hits_2_million_bitcoin_bets_over/

Not to mention over 2 million shares of the IPO sold yesterday as well...  Only 539,000 left before the second Tier sells out.

Update : down to 45,327 shares left before Tier 3.

[rini17]

Today SatoshiDICE hit 2 million bets placed.

Please upvote here if you can: http://www.reddit.com/r/gambling/comments/14cepn/satoshidicecom_hits_2_million_bitcoin_bets_over/

Not to mention over 2 million shares of the IPO sold yesterday as well...  Only 539,000 left before the second Tier sells out.

Update : down to 45,327 shares left before Tier 3.

Aaannd..it's gone. Now only 3 million shares from Tier 3 at 0.0037 are left.

[evoorhees]

Hey all,

Regarding this double-spend phenomenon, I wanted to allay concerns. We're aware of it and have been examining the issue. We do not think it is a significant problem, though we're taking certain precautions. Primarily, bets without a fee are now not accepted, meaning the original method of these double-spends is no longer effective. We're also taking a couple steps which are trade secrets, but that should further insulate us from similar exploits.

BitcoinMagazine just wrote a piece about this... http://bitcoinmagazine.net/instant-transaction-fraud-an-explanation/

We're also figuring out a way to deal with transaction spam - some people are sending us many transactions or outputs of .000000001 btc. We may set it so that these spam transactions are kept by the site and considered donation, because they negatively effect the experience for legitimate players. In any case, we're considering some options and will post any rule changes to the site and to the relevant threads on this forum.

And if you haven't noticed, Dec. is shaping up to be the best month ever for shareholders

[Bugpowder]

Hey all,

Regarding this double-spend phenomenon, I wanted to allay concerns. We're aware of it and have been examining the issue. We do not think it is a significant problem, though we're taking certain precautions. Primarily, bets without a fee are now not accepted, meaning the original method of these double-spends is no longer effective. We're also taking a couple steps which are trade secrets, but that should further insulate us from similar exploits.

BitcoinMagazine just wrote a piece about this... http://bitcoinmagazine.net/instant-transaction-fraud-an-explanation/

We're also figuring out a way to deal with transaction spam - some people are sending us many transactions or outputs of .000000001 btc. We may set it so that these spam transactions are kept by the site and considered donation, because they negatively effect the experience for legitimate players. In any case, we're considering some options and will post any rule changes to the site and to the relevant threads on this forum.

And if you haven't noticed, Dec. is shaping up to be the best month ever for shareholders

Thanks for the update Erik.  Dec is ALREADY the best month for shareholders, ~9% gain is share price valuation.

[evoorhees]

Fair warning... December is gong to have a huge dividend payout (likely over 1900 btc to the asset holders). If you were ever thinking of owning some shares of S.DICE, do it in the next  24 hours. Holding a million shares will yield you over 190btc from Dec. earnings alone.

1m shares costs roughly 3,700btc right now at MPEX
190btc would be 5.1% yield in one month... and this is legitimate, transparent profits.

And for all you who already own shares, Merry Christmas

[Ukyo]

Fair warning... December is gong to have a huge dividend payout (likely over 1900 btc to the asset holders). If you were ever thinking of owning some shares of S.DICE, do it in the next  24 hours. Holding a million shares will yield you over 190btc from Dec. earnings alone.

1m shares costs roughly 3,700btc right now at MPEX
190btc would be 5.1% yield in one month... and this is legitimate, transparent profits.

And for all you who already own shares, Merry Christmas

And if you do not have an MPEX account, you could also buy some s.dice shares via DeadTerra's pass-through on BitFunder.