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

[jonitas]

Not sure who or why, but somebody just bought up  ~430BTC worth of SDICE on havelock. (1901 shares)

Somethings up?

I find that Havelock is now moraly obliged to make public who made this trade. This stinks!

[TraderTimm]

Well, thank you Erik for showing once and for all you're just a profit-chaser - you don't care about bitcoin, well, only enough to get your money out of it.

As I understand it - and please, feel free to add your crocodile tears here - you're going to DUMP a shitload of BTC on the market in general, to "shareholders" that will no doubt seek to "cash out" in droves. In a short time period, no less.

"I know some of you will be upset"

Yes, I am upset - first for your wholesale abuse of the blockchain, and now, for not only continuing your abomination but now trampling all over the BTC market in your urge to scratch that profit itch.

Will someone please hire Erik so he stops this pattern of wholesale dickery? What the hell is the next business enterprise, monetizing desperate immigrants? I can only sit and wonder, since I don't have the obvious lack of social acuity you display in your business schemes.

Just 'effing unbelievable....looks like we got "DICED" again.

[N12]

Not sure who or why, but somebody just bought up  ~430BTC worth of SDICE on havelock. (1901 shares)

Somethings up?

I find that Havelock is now moraly obliged to make public who made this trade. This stinks!

You forget that most people here find insider trading a good thing and they will congratulate him.

[TheSwede75]

Well, thank you Erik for showing once and for all you're just a profit-chaser - you don't care about bitcoin, well, only enough to get your money out of it.

As I understand it - and please, feel free to add your crocodile tears here - you're going to DUMP a shitload of BTC on the market in general, to "shareholders" that will no doubt seek to "cash out" in droves. In a short time period, no less.

"I know some of you will be upset"

Yes, I am upset - first for your wholesale abuse of the blockchain, and now, for not only continuing your abomination but now trampling all over the BTC market in your urge to scratch that profit itch.

Will someone please hire Erik so he stops this pattern of wholesale dickery? What the hell is the next business enterprise, monetizing desperate immigrants? I can only sit and wonder, since I don't have the obvious lack of social acuity you display in your business schemes.

Just 'effing unbelievable....looks like we got "DICED" again.

Because so many people invest in bitcoin shares out of the goodness of their heart and not for profit.

[lightbox]

Not sure who or why, but somebody just bought up  ~430BTC worth of SDICE on havelock. (1901 shares)

Somethings up?

I find that Havelock is now moraly obliged to make public who made this trade. This stinks!

Havelock will not disclose _who_ this trade was, and as far as I know, there was no insider knowledge used. It was, infact, as RationalSpeculator speculated:

I understand this looks bullish on havelock as such large buys are very rare indeed.

However, those were likely the same shares that were also on offer on mpex (190,000) last week for 0.0028 and got lowered a few days ago to 0.0025, then likely the one that had bid open for 300,000 shares at 0.0020 snatched them as his bid has been removed. Since on mpex there have been around 5 blocks of 1 million shares traded the past month this is not an exceptional large trade. 

A user on havelock with significant holdings in SDICE contacted havelock to arrange a way to sell their shares on MPEX without crashing the price on havelock.  I view this as a responsible move on their part.  Havelock listed the sale on their behalf on MPEX, which stayed on the books for about a week before the seller agreed to lower the price, and it was finally filled on MPEX.  Havelock then bought up the shares on Havelock (which the seller listed on the open orderbook), removing them from the total outstanding shares.  If there was insider trading, it wouldn't have been on the havelock side... as the user that sold those shares would have profited much more if they had held them an extra few days for this announcement.


Total outstanding shares on Havelock is now:     12782
Shares in Havelock's MPEX account:     S.DICE x 1`278`200

[dhenson]

Well, thank you Erik for showing once and for all you're just a profit-chaser - you don't care about bitcoin, well, only enough to get your money out of it.

As I understand it - and please, feel free to add your crocodile tears here - you're going to DUMP a shitload of BTC on the market in general, to "shareholders" that will no doubt seek to "cash out" in droves. In a short time period, no less.

"I know some of you will be upset"

Yes, I am upset - first for your wholesale abuse of the blockchain, and now, for not only continuing your abomination but now trampling all over the BTC market in your urge to scratch that profit itch.

Will someone please hire Erik so he stops this pattern of wholesale dickery? What the hell is the next business enterprise, monetizing desperate immigrants? I can only sit and wonder, since I don't have the obvious lack of social acuity you display in your business schemes.

Just 'effing unbelievable....looks like we got "DICED" again.

I found this post offensive tbh.

He grew a business, and sold it for a profit, I fail to see the crime in that.  He even chose to pay shareholders much more than required.

The bit about abusing the blockchain is ridiculous as well.  If bitcoin can't handle one gambling site, then we are all wasting our time.  I would be very surprised if he chose to convert a large amount of the profits to fiat.  Erik strikes me as a long-term bitcoin believer.

[parseval]

How is the transfer of operations to proceed?  What is the timeline on the transition of operations?  Will the site remain functional through the transition, with advance notice on rate changes and address changes?   If the site is to be taken offline, how will the inevitable bets made to the S.Dice addresses be handled? (I imagine if the site did go offline, there would be some functionality to simply return the bet, minus whatever transaction fee is incurred).

[🏰 TradeFortress 🏰]

How is the transfer of operations to proceed?  What is the timeline on the transition of operations?  Will the site remain functional through the transition, with advance notice on rate changes and address changes?   If the site is to be taken offline, how will the inevitable bets made to the S.Dice addresses be handled? (I imagine if the site did go offline, there would be some functionality to simply return the bet, minus whatever transaction fee is incurred).

Is there any reason for the site to not be functional other than maybe a brief downtime for DNS changes?

The website is separate from the bet processing.

[Spaceman_Spiff]

I found this post offensive tbh.

He grew a business, and sold it for a profit, I fail to see the crime in that.  He even chose to pay shareholders much more than required.

The bit about abusing the blockchain is ridiculous as well.  If bitcoin can't handle one gambling site, then we are all wasting our time.  I would be very surprised if he chose to convert a large amount of the profits to fiat.  Erik strikes me as a long-term bitcoin believer.

agreed

[parseval]

How is the transfer of operations to proceed?  What is the timeline on the transition of operations?  Will the site remain functional through the transition, with advance notice on rate changes and address changes?   If the site is to be taken offline, how will the inevitable bets made to the S.Dice addresses be handled? (I imagine if the site did go offline, there would be some functionality to simply return the bet, minus whatever transaction fee is incurred).

Is there any reason for the site to not be functional other than maybe a brief downtime for DNS changes?

The website is separate from the bet processing.

The new owners might want to implement new addresses for which they solely know the private keys.  Changes on the backend will be most likely minimal, unless they want to change rates and such as well.

[kingcrimson]

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'.

[SatoshiDICE_PR]

How is the transfer of operations to proceed?  What is the timeline on the transition of operations?  Will the site remain functional through the transition, with advance notice on rate changes and address changes?   If the site is to be taken offline, how will the inevitable bets made to the S.Dice addresses be handled? (I imagine if the site did go offline, there would be some functionality to simply return the bet, minus whatever transaction fee is incurred).

Good question - Site operations will not be affected during the transition in any way. No downtime will occur.

[JordanL]

Wow huge news. I really should have held on to some S.Dice.

Congratulations to Mr. Voorhees and all private and public shareholders.

Good luck to the new owner(s) as well. That has to be one of the largest Bitcoin investments of all-time in USD terms, I'm excited to see what they have planned for the future.

Seems to me as though an affiliate program could really help it reach the next level.

[Namworld]

Not sure who or why, but somebody just bought up  ~430BTC worth of SDICE on havelock. (1901 shares)

Somethings up?

I find that Havelock is now moraly obliged to make public who made this trade. This stinks!

You forget that most people here find insider trading a good thing and they will congratulate him.

I bought a portion of that. Also it happened after the the announcement was made. No insider trading there. Insider trading is trading on knowledge the public was not aware of that you have through the exercise of your functions. So a CEO or key employees selling their stocks knowing the company is having bad times before the news are out is insider trading.

CEO/Employees can trade stock of their own company. Even if Topace was the one who bought the shares, it's not insider trading. Unless he knew upfront the content of the announcement and was ready when it got out, which I doubt. As soon as I saw Erik's announcement, I rushed and bought. First come, first served. There's always a risk leaving orders up on the orderbook.

[romerun]

what will be traded in MPEX then, I can foresee either the big board waive the fee or be deserted

[Bugpowder]

How much do you want to bet that the 2.6M shares that sold for .0028 last week were purchased by EV?  

How much of the bid support over the last 3 weeks was directly provided by EV?

Erik, congrats on cashing out, it was a very innovative site for its time.

Now go buy a yacht with bitcoins!

[TsuyokuNaritai]

A question for all exchanges that had PTs.

What happens now with unexecuted S.DICE call & put options on your exchange when the security is closed?

[miscreanity]

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.

[Asymptote]

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.

[kgo]

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'.

Mybitcoin?

Bitcoinia?

Pirate@40?

Even if this was actually a scam, its not even close to one of the biggest scams in bitcoin history.