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

[TraderTimm]

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

We'll see how much in agreement you both are when we're trading lower. The irresponsible nature of this whole undertaking is simply mind-boggling.

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[freedomno1]

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.

+1

Same as nameworld I bought a portion of that helps to be checking threads.

[Logik]

Paging PT operators.. how will you manage buy backs? Do we expect the full 0.0035?

[luv2drnkbr]

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.

Does it hurt being this stupid?

[Voodah]

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.

I completely agree with you.

However I also see the validity of what is being said.

This all feels very rushed and, honestly, coming from someone like Erik who completely understand the Bitcoin economy and the side-effects such a sudden move might have on the market, it seems rather careless and distant from any kind of long term commitment towards Bitcoin. It's a market move.

If you're long and (intentionally?) cause panic, the only reason is to buy cheaper after the fall. Unless he goes 100% fiat and forgets about btc forever, but I seriously doubt that.

EDIT: this is of course, assuming some dumps and then some panic... a big sale in the btc economy should be a good thing, but you never know Ms.Market..

[pikeadz]

Dear Asset Holders,

I have some very important news to share with you. Some of you will be pleased, and some upset, but I believe this to be a solid, desirable, and fair outcome for those who have put their trust in S.DICE.

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.

According to the MPEX Agreement, MPEX holders are entitled to receive 0.00126315 BTC per share, alongside other private owners. However, for the good of the MPEX holders and for the sake of the general Bitcoin community, which the site always has intended to support and nurture, SatoshiDice has arranged to pay MPEX holders an additional .00223685 BTC per share bringing the total to 0.0035 BTC per share.

This is a 277% premium over the sale price and a roughly 175% premium over the current market price of S.DICE shares on MPEX. It is also roughly equivalent to the average price of S.DICE shares at IPO (though BTC was $12 back then, and over $90 today).

Note that the MPEX order book for S.DICE was cancelled just prior to this announcement in order to prevent anyone from taking advantage of standing orders.

While I know some S.DICE owners intended to hold for a long time, and will thus be dismayed by the buyout, it is my sincere hope that this compensation level will be amenable. It is substantially higher than the contract mandates, and it is almost 3x higher than all private owners are being paid. It has not been easy to negotiate to this level, but I believe it is the right thing to do.

Further, there will be an additional small amount added to compensate for the previously deducted costs of the new website development, as it did not feel right for S.DICE holders to have paid for development of a site they won’t have a stake in after the buyout.

This letter is being posted roughly 24 hours prior to the payout, at which point MPEX holders will receive .0035 BTC per share plus the small additional amounts mentioned above. MPEX will then de-list the asset and the S.DICE MPEX Agreement will be satisfied. The payout will occur in roughly 20 increments over a period of several hours and will arrive in S.DICE holders’ accounts (in the same manner as dividends). All passthrough operators are responsible for their own assets and customers, obviously.

As per the S.DICE agreement, asset owners do not have voting rights to effect operational changes, nor any rights to negotiate nor block a full buyout of the company.  Nevertheless, SatoshiDice has kept the interests of the asset holders in mind throughout this negotiation process, and has intended to treat these holders fairly, above and beyond contractual obligations.

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

Kind regards,
-Erik Voorhees

Wait, I thought the price was supposed to go back up to .0076 again within 48 hours.  That was what you said in February, right?

[evoorhees]

This all feels very rushed and, honestly, coming from someone like Erik who completely understand the Bitcoin economy and the side-effects such a sudden move might have on the market, it seems rather careless and distant from any kind of long term commitment towards Bitcoin. It's a market move.

Where is this idea coming from that Bitcoin is being sold for fiat?

[notme]

This all feels very rushed and, honestly, coming from someone like Erik who completely understand the Bitcoin economy and the side-effects such a sudden move might have on the market, it seems rather careless and distant from any kind of long term commitment towards Bitcoin. It's a market move.

Where is this idea coming from that Bitcoin is being sold for fiat?

You've started quite the buzz in the speculation subforum.  Bears are looking for rationalization of their opinions.

[Logik]

This all feels very rushed and, honestly, coming from someone like Erik who completely understand the Bitcoin economy and the side-effects such a sudden move might have on the market, it seems rather careless and distant from any kind of long term commitment towards Bitcoin. It's a market move.

Where is this idea coming from that Bitcoin is being sold for fiat?

He's speculating that holders of SDICE will sell their BTC after the cash out.

[Namworld]

Paging PT operators.. how will you manage buy backs? Do we expect the full 0.0035?

Asset Termination
- Should the issuer of S.DICE terminate the asset, any funds received through
this asset termination will be distributed in full without any fee taken.

For S.DICE-PT on BTCT.co, yes

[Voodah]

This all feels very rushed and, honestly, coming from someone like Erik who completely understand the Bitcoin economy and the side-effects such a sudden move might have on the market, it seems rather careless and distant from any kind of long term commitment towards Bitcoin. It's a market move.

Where is this idea coming from that Bitcoin is being sold for fiat?

Nowhere, but regardless of what happens with your btc, lots of other btc will flood the market in the form of shareholder payouts. Some selling pressure is bound to might happen.

Anyway, as I said before, I agree that you did an amazing job in growing a business, selling it for a profit, and doing good by your shareholders. That must be congratulated !

[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

We'll see how much in agreement you both are when we're trading lower. The irresponsible nature of this whole undertaking is simply mind-boggling.

What part of free market don't you understand?  I fail to see the lack of responsibility here.
You are reacting quite emotionally, so I am assuming this has caused you a loss, or you believe it will cause you a loss in the future.  That doesn't change the fact that nothing wrong is being done here.

[Deprived]

Paging PT operators.. how will you manage buy backs? Do we expect the full 0.0035?

The one I run on LTC-Global will be converting the entire final payment into LTC and paying it out in full.

[notme]

Paging PT operators.. how will you manage buy backs? Do we expect the full 0.0035?

The one I run on LTC-Global will be converting the entire final payment into LTC and paying it out in full.

Awesome.... I'm going to go front run you.

[Abu22]

Well what a shit cunt this makes Erik.

"Hur durr, we've been working on new features for months...We'll release the info on what they are soon...In the mean time heres some new site costs!"

"Sory guis, haven't been on in 3 monhts, big announcement end of this month tho! We're working hard for you shareholderss! Oh btw I'm taking all the betting pool that you justly thought was yours..mine now."

"Soooo you know all those things I've been working on, well they don't exists, they where just keeping this afloat on a sea of lies and I'm cashing out now, again with no GPG sig because I frankly don't give a shit if you all get shat on if/when my account gets compromised... Im'a just take the money and ran now, BAII FAGGOTZ -XOXO"


WHAT A SURPRISE GUYS! Erik show's up, not with information pertaining to everyones questions and Erik's promises, no, no, no... Just another random slap in the face and run, style news.

So who's the buyer? Competitor removing competition, gambling mogul, Erik under another pseudonym - so he can continue fucking this into the floor without damaging his reputation?

Have they outlined their prospects for where this will be going? Rebuilding or dismantling?


I would like to nominate Erik for this years shit bloke of the year award. He's really strived his hardest this time round. Definitely deserving of it.

[Spaceman_Spiff]

Paging PT operators.. how will you manage buy backs? Do we expect the full 0.0035?

The one I run on LTC-Global will be converting the entire final payment into LTC and paying it out in full.

Awesome.... I'm going to go front run you.

[evoorhees]

Well what a shit cunt this makes Erik.

"Hur durr, we've been working on new features for months...We'll release the info on what they are soon...In the mean time heres some new site costs!"

"Sory guis, haven't been on in 3 monhts, big announcement end of this month tho! We're working hard for you shareholderss! Oh btw I'm taking all the betting pool that you justly thought was yours..mine now."

"Soooo you know all those things I've been working on, well they don't exists, they where just keeping this afloat on a sea of lies and I'm cashing out now, again with no GPG sig because I frankly don't give a shit if you all get shat on if/when my account gets compromised... Im'a just take the money and ran now, BAII FAGGOTZ -XOXO"


WHAT A SURPRISE GUYS! Erik show's up, not with information pertaining to everyones questions and Erik's promises, no, no, no... Just another random slap in the face and run, style news.

So who's the buyer? Competitor removing competition, gambling mogul, Erik under another pseudonym - so he can continue fucking this into the floor without damaging his reputation?

Have they outlined their prospects for where this will be going? Rebuilding or dismantling?


I would like to nominate Erik for this years shit bloke of the year award. He's really strived his hardest this time round. Definitely deserving of it.

Perhaps you missed the part where it mentioned that all the expensed costs of the site development are getting returned to MPEX holders in full. Perhaps you also missed the part where I mentioned MPEX holders are receiving over 3x what private holders are per share, receiving roughly all the money back that was paid in the IPO even after a 9X increase in the BTC price and at a 175% premium to the MPEX market price. Perhaps you missed all that.

Let's put it this way...

Anyone who bought IPO shares is getting all their BTC back, despite a 9x increase in exchange rate, plus made roughly 20% dividend return in 9 months.

No hacks.
No scams.
Avoidance of all legal crises.
Continued market dominance despite throngs of competitors.
& and clean exit that paid MPEX holders 3X over private holders despite any contractual obligation to do so.

Stop being a dick, Abu.

[superduh]

This all feels very rushed and, honestly, coming from someone like Erik who completely understand the Bitcoin economy and the side-effects such a sudden move might have on the market, it seems rather careless and distant from any kind of long term commitment towards Bitcoin. It's a market move.

Where is this idea coming from that Bitcoin is being sold for fiat?

blitz, the mod

[kingcrimson]

Well what a shit cunt this makes Erik.

"Hur durr, we've been working on new features for months...We'll release the info on what they are soon...In the mean time heres some new site costs!"

"Sory guis, haven't been on in 3 monhts, big announcement end of this month tho! We're working hard for you shareholderss! Oh btw I'm taking all the betting pool that you justly thought was yours..mine now."

"Soooo you know all those things I've been working on, well they don't exists, they where just keeping this afloat on a sea of lies and I'm cashing out now, again with no GPG sig because I frankly don't give a shit if you all get shat on if/when my account gets compromised... Im'a just take the money and ran now, BAII FAGGOTZ -XOXO"


WHAT A SURPRISE GUYS! Erik show's up, not with information pertaining to everyones questions and Erik's promises, no, no, no... Just another random slap in the face and run, style news.

So who's the buyer? Competitor removing competition, gambling mogul, Erik under another pseudonym - so he can continue fucking this into the floor without damaging his reputation?

Have they outlined their prospects for where this will be going? Rebuilding or dismantling?


I would like to nominate Erik for this years shit bloke of the year award. He's really strived his hardest this time round. Definitely deserving of it.

Perhaps you missed the part where it mentioned that all the expensed costs of the site development are getting returned to MPEX holders in full. Perhaps you also missed the part where I mentioned MPEX holders are receiving over 3x what private holders are per share, receiving roughly all the money back that was paid in the IPO even after a 9X increase in the BTC price and at a 175% premium to the MPEX market price. Perhaps you missed all that.

Let's put it this way...

Anyone who bought IPO shares is getting all their BTC back, despite a 9x increase in exchange rate, plus made roughly 20% dividend return in 9 months.

No hacks.
No scams.
Avoidance of all legal crises.
Continued market dominance despite throngs of competitors.
& and clean exit that paid MPEX holders 3X over private holders despite any contractual obligation to do so.

Stop being a dick, Abu.

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.

[evoorhees]

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.