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

[EskimoBob]

It sounds like Erik fucked up. I think he should just take responsibility for the mistake, apologize, and move on. This will damage his reputation for further issues.

http://allthingsd.com/20130208/google-chairman-eric-schmidt-to-sell-up-to-42-percent-of-stake/

Quick, someone send Schmidt a copy of the 1933 LAWLZ.

LOL, you are such a tool.
 
Scumbag mircea was screaming in IRC how he is going to send you here to post it. And you did, without ever realizing how you actually backed up what I was writing before, while confirming your zero understanding of what is going on.  
 
Honestly, you are a tool and not the sharpest one.

OOOPS! 

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[evoorhees]

It sounds like Erik fucked up. I think he should just take responsibility for the mistake, apologize, and move on. This will damage his reputation for further issues.

I did make a mistake, which was to post the shares on the market without any warning. I apologize for this, and won't do it again. The lesson I learned is the market doesn't like surprises, even good ones. This was my mistake, and I'm happy to take responsibility for it.

Yet it was not a mistake to post shares at the price I posted them at. Some people were mad because they're own worth "on paper" dropped for about 48 hrs. I wonder if people who were upset about that should perhaps stick to mutual funds. S.DICE shares are going to be volatile, please don't be in the market if you're not ready for that. And please don't have a time horizon of 48 hrs., that's a recipe for investment disaster.

To all those who thanked me for the inexpensive shares, you're welcome. And thank you for being mature and rational about how values and prices work.

[wachtwoord]

May be it helps if you would explain your rationale behind the sell.

In this specific instance, one of the few large private owners wanted to sell some of his stake to me. I bought it, and resold part of it on MPEX. On net, my stake actually increased, though everyone saw it as me "dumping" 

Okay, thank you. The I have one additional question (of course you don't have to answer). Why didn't you just make a market order instead of selling them below market? (or am I missing something?)

[jborkl]

The only thing I am upset is I missed out on the cheap shares. Anyone upset that the value dropped for 48 hrs should not be here in the first place.

[btcsql]

It sounds like Erik fucked up. I think he should just take responsibility for the mistake, apologize, and move on. This will damage his reputation for further issues.

I did make a mistake, which was to post the shares on the market without any warning. I apologize for this, and won't do it again. The lesson I learned is the market doesn't like surprises, even good ones. This was my mistake, and I'm happy to take responsibility for it.

Yet it was not a mistake to post shares at the price I posted them at. Some people were mad because they're own worth "on paper" dropped for about 48 hrs. I wonder if people who were upset about that should perhaps stick to mutual funds. S.DICE shares are going to be volatile, please don't be in the market if you're not ready for that. And please don't have a time horizon of 48 hrs., that's a recipe for investment disaster.

To all those who thanked me for the inexpensive shares, you're welcome. And thank you for being mature and rational about how values and prices work.

The "tranches" were really a gift, for any astute, risk-whetted person who understands that the investment (like Bitcoin) could become worthless. Of course the lack of prior disclosure is cause for some to be upset, but, this is Bitcoin, and so it goes. As always, those who try to play the markets casually, will be taken to the pen and slaughtered by those who study and watch constantly. In this case, the serious interested parties in S.DICE who, like myself, watch the price numerous times per day looking for opportunities to build my stake, happen to be given a gift of temporarily lower prices. This is really no different than some algorithm going AWOL on the NYSE, and selling the stock all the way down to 0.01, except in this case, trades aren't cancelled and reversed. I believe in free markets, and I know full well that the limited market cap and liquidity of these stocks means that there can at times be serious dislocations between NBBO and true value. These times represent opportunities, and you have to take advantage of them. So long as your horizon is years, not days, and you are willing to lose it all, just calm down and watch this thing play out, I guarantee it will be a wild ride. Thank you Erik for taking the time to respond to all of our inquiries -- it reflects brightly on your capacity as both a human being and a business man.

[Bugpowder]

May be it helps if you would explain your rationale behind the sell.

In this specific instance, one of the few large private owners wanted to sell some of his stake to me. I bought it, and resold part of it on MPEX. On net, my stake actually increased, though everyone saw it as me "dumping" 

Okay, thank you. The I have one additional question (of course you don't have to answer). Why didn't you just make a market order instead of selling them below market? (or am I missing something?)

Do you understand what a market order is?  The bid depth was < 1,000,000 shares above .00000101 at the time. 

[nebulus]

You, people, do not get that it makes absolutely no difference if voorhees makes an announcement when he is selling or does not. (Supply/demand economics) The shares are his not public's. He should do how he pleases with them. He is probably doing more good for Bitcoin by selling them cheap because more people can play.

Also, ya, creeping greedy bastards, how long do you think you can keep appealing to his soft side before it stops working?
Crap happens just learn to deal with it...

[MPOE-PR]

As always, those who try to play the markets casually, will be taken to the pen and slaughtered by those who study and watch constantly. In this case, the serious interested parties in S.DICE who, like myself, watch the price numerous times per day looking for opportunities to build my stake, happen to be given a gift of temporarily lower prices.

Aha, a winner emerges. Well...good for you!

This is really no different than some algorithm going AWOL on the NYSE, and selling the stock all the way down to 0.01, except in this case, trades aren't cancelled and reversed.

It is the policy of MPEx not to reverse trades. We can't absolutely guarantee this will never happen, but it's currently the Holy Grail #1 goal.

There have actually been cases of stocks being sold very low (S.DICE in two previous instances sold down to 0.0016 and 0.0008 respectively, causing the following observation in the Miscellanea section of S.MPOE January Statements:

5. Quoth one confused trader,

Why every month there's someone sell s.dice at very low price? It's so bizarre.

What shall I tell him ?

In this historical perspective, the only reason this sale we're discussing is remarkable is perhaps more to do with the rising unemployment across Europe and the US than anything.

The daily volume of GOOG is 2.3 million shares. Eric Schmidt is selling 1.5 day's worth of shares over a year. Erik Voorhees tried to sell 100 days worth of shares over 5 days.

<assbot> [MPEX:S.DICE] 1D: 0.00606903 / 0.00635803 / 0.0064 (34996 shares, 222.51 BTC), 7D: 0.0042 / 0.00574395 / 0.007395 (4398275 shares, 25,263.48 BTC), 30D: 0.00085848 / 0.00554145 / 0.0075 (8548901 shares, 47,373.31 BTC)

8.5 mn shares a month means that we're talking about roughly 3 days' "worth of shares". Does actually sitting down and doing the math help you understand how out of place the stuff you've been claiming is, or are you too committed to it by now to care?

[Fizzgig]

The new shares surprised me I'll admit, and I made some bad moves but I made up for it and am in a much better position. In reality, you could do whatever you want...I doubt many are willing to give up their juicy dividends.

[fcmatt]

Assbot? Really? Lol. Sorry, i find it funny but unprofessional. But that is irc for you.

[Bowjob]

asset bot

[🏰 TradeFortress 🏰]

Assbot? Really? Lol. Sorry, i find it funny but unprofessional. But that is irc for you.

heh, 80% of IRC bots have 'unprofessional' names (like moo)

[MPOE-PR]

The daily volume of GOOG is 2.3 million shares. Eric Schmidt is selling 1.5 day's worth of shares over a year. Erik Voorhees tried to sell 100 days worth of shares over 5 days.

<assbot> [MPEX:S.DICE] 1D: 0.00606903 / 0.00635803 / 0.0064 (34996 shares, 222.51 BTC), 7D: 0.0042 / 0.00574395 / 0.007395 (4398275 shares, 25,263.48 BTC), 30D: 0.00085848 / 0.00554145 / 0.0075 (8548901 shares, 47,373.31 BTC)

8.5 mn shares a month means that we're talking about roughly 3 days' "worth of shares". Does actually sitting down and doing the math help you understand how out of place the stuff you've been claiming is, or are you too committed to it by now to care?

My, you are a deceptive little troll, aren't you! You neglected to mention that 3 of those 8.5 million are the shares that Erik dumped on the market, and that's 30 days not 3 days.

READ, sparky. Do it. Now.

Assbot? Really? Lol. Sorry, i find it funny but unprofessional. But that is irc for you.

Short for assets. Honi soit qui mai y pense.

And for the record: thinking "professional" is an attribute of form rather than function is the first step towards idiocy. Professional tools are the things that work well, not the things that look impressive to the [uninitiated] masses.

[thoughtfan]

Short for assets. Honi soit qui mal (mai) y pense.

FTFY (sorry, couldn't resist )

[Carnth]

Assbot? Really? Lol. Sorry, i find it funny but unprofessional. But that is irc for you.

Maybe they should have named it donkeybot instead. 

[kakobrekla]

The fact, that this ended up as a matter of such high importance, speaks for itself. The existing Wiki entry is now finally justified, I guess.

[MPOE-PR]

Short for assets. Honi soit qui mal (mai) y pense.

FTFY (sorry, couldn't resist )

Ioi oops.

[kingcrimson]

couple questions about mpex/dice:

if you have shares sitting unsold on mpex, do you still get dividends on them?

if you buy on the last day of the month, do you get the dividends for the entire month? couldn't someone just buy on the last day of the month, get dividends and sell the shares the next day repeatedly?

[🏰 TradeFortress 🏰]

couple questions about mpex/dice:

if you have shares sitting unsold on mpex, do you still get dividends on them?

if you buy on the last day of the month, do you get the dividends for the entire month? couldn't someone just buy on the last day of the month, get dividends and sell the shares the next day repeatedly?

1. Yes.

2. Sure, you could. Same thing with any other stock.

[kingcrimson]

700,000 wall. are people panic selling?