Jobe7
Full Member
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Activity: 238
Merit: 100
Now they are thinking what to do with me
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July 18, 2013, 09:52:21 AM |
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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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wachtwoord
Legendary
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Activity: 2324
Merit: 1125
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July 18, 2013, 10:03:17 AM |
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Congratulations Erik. One of the people I think really deserves this.  |
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GeoRW
Sr. Member
Offline
Activity: 350
Merit: 257
Trust No One
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July 18, 2013, 10:03:59 AM |
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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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phelix
Legendary
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Activity: 1708
Merit: 1019
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July 18, 2013, 10:13:46 AM |
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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. |
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Rampion
Legendary
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Activity: 1148
Merit: 1018
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July 18, 2013, 10:17:12 AM |
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Congrats Erik. You did a good job despite of the trolls.
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lebing
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
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July 18, 2013, 10:19:25 AM |
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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?
-E Voorhees
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info@anonibet.com
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July 18, 2013, 11:37:26 AM |
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Well done Erik! I hope you will have the same success with coinapult.
Regards,
Michael
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www.anonibet.comTotally Anonymous Account, Transfer Bitcoins safely without any fees Soccer, Basketball, American Football, Ice Hockey, Tennis, Baseball, Motorsport, Volleyball, Boxing, Fighting Sports and more... http://twitter.com/Anonibethttp://anonibet.blogspot.com/
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greyhawk
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July 18, 2013, 11:44:32 AM |
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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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k
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July 18, 2013, 12:07:58 PM |
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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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nubbins
Legendary
Offline
Activity: 1554
Merit: 1009
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July 18, 2013, 12:14:12 PM |
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I am going to develop my own dice game better than sdice anyoen interested
Oddly, no |
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Lohoris
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July 18, 2013, 12:31:55 PM |
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I am going to develop my own dice game better than sdice anyoen interested
Oddly, no LMAO gg |
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amunrara
Newbie
Offline
Activity: 30
Merit: 0
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July 18, 2013, 01:30:15 PM |
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niet
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zebedee
Donator
Hero Member
Offline
Activity: 668
Merit: 500
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July 18, 2013, 01:37:34 PM |
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[...]
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.
[...]
Hmm. The "new company" thing is kind of vague; including whether Mr Voorhees has any stake in it. Given the numbers below I think it's almost certain he is getting such a stake. But ignoring that for now and assuming he doesn't.... Let's guess that Erik holds 80% of shares, IPO was 10%, others unknown own the remaining 10% of which some was subsequently sold publicly. The way I read this is that Erik has willingly cashed out 80% for 0.00126 per share, when it was trading above 0.0020 per share in the open market. Let's assume he's compensated the whole 20%, not just the publicly traded part, as disclosed above. He receives 80m * 0.00126 = 101,052 BTC. However he's paying out a premium (ignoring minor refunds he mentions in his post) 20m * .00223685 or 44,737 BTC. So he's pocketing only 56,315 BTC net for 80m shares, or 0.00070394 BTC per share. This is clearly ridiculous, even given tough competition like Just Dice, given that he could undoubtedly successfully offer another 20m shares at say 0.002 BTC each given the market price (40k BTC total) and still be left with 60m. So this looks to me like 2 things: a) an opportunity to reduce his stake, given the lack of focus and increasingly tough competition, and b) at the same time retain significant, but substantially reduced, interest via a stake in the "new company". Shareholders should consider themselves lucky, I really doubt it would have ever reached something like 0.0035 BTC again on the open market. |
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zebedee
Donator
Hero Member
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Activity: 668
Merit: 500
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July 18, 2013, 01:42:32 PM |
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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. Yeah, and the new company buyer just got his BTC from ... thin air right? |
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wtfvanity
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July 18, 2013, 01:55:25 PM |
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Oh no. What will MPEx do now? They don't have anything real on their exchange now.
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WTF! Don't Click Here
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
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zebedee
Donator
Hero Member
Offline
Activity: 668
Merit: 500
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July 18, 2013, 02:30:21 PM |
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I was also wondering if Erik is a holder of the new company. I think part of his motivation would be to hid that fact that he as an American is running an online gambling site. Something the USA does go after.
Seems like he just wanted out and did so at a crazy low price. I'm sure there is more to this than we know.
I'm sure that both a) he has a significant interest in the new company, and b) he didn't get out at a crazy low price, because of a). I suspect he has effectively sold 30-50% interest somewhere between -30% and +10% of the prevailing market price (0.0021 BTC say). |
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zy02264
Member
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Activity: 116
Merit: 10
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July 18, 2013, 03:36:10 PM |
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Seriously??? I am really shocked to see most of you are so happy with this ending.
Apparently, Erik really know finance and really good at misleading people by his knowledge. What happened here is someone took over Erik's shares at a discount price - 0.00126315. Then Erik told us that your share is worth 0.00126315 but I will add another 0.00223685 because I am responsible. Come on! Look at MPEX, the past 30 days average is around 0.0025. I believe this is how they value shares at real life stock market.
This is not the only one. When Erik tried to offer the shares at first, the shares are valued at 8 P/E ratio. Afterward when people start to losing money and blame Erik, he was like - don't too focus on price movement, please look at
annualized return, the P/E ratio is 8! Now when he try to buy back those shares, he seems forget to mention P/E at all - its time to look back to price! Wow! What a generous guy! If we give the 8 on current earning, the price will be at least 0.0045.
Is this fair???
If we ignore all the noises - the buyout thing, the 0.00126315 and the new owner - no one know if they are really exist. What we are 100% sure is Erik issued shares at around 0.0035. Now he buy back at same price. What he got? A business with public recognition through IPO. What shareholders got? Nothing.
Is this fair???
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DannyM
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July 18, 2013, 03:39:34 PM |
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What shareholders got?
Dividends |
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Bugpowder
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July 18, 2013, 03:55:45 PM |
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Seriously??? I am really shocked to see most of you are so happy with this ending.
Apparently, Erik really know finance and really good at misleading people by his knowledge. What happened here is someone took over Erik's shares at a discount price - 0.00126315. Then Erik told us that your share is worth 0.00126315 but I will add another 0.00223685 because I am responsible. Come on! Look at MPEX, the past 30 days average is around 0.0025. I believe this is how they value shares at real life stock market.
This is not the only one. When Erik tried to offer the shares at first, the shares are valued at 8 P/E ratio. Afterward when people start to losing money and blame Erik, he was like - don't too focus on price movement, please look at
annualized return, the P/E ratio is 8! Now when he try to buy back those shares, he seems forget to mention P/E at all - its time to look back to price! Wow! What a generous guy! If we give the 8 on current earning, the price will be at least 0.0045.
Is this fair???
If we ignore all the noises - the buyout thing, the 0.00126315 and the new owner - no one know if they are really exist. What we are 100% sure is Erik issued shares at around 0.0035. Now he buy back at same price. What he got? A business with public recognition through IPO. What shareholders got? Nothing.
Is this fair???
I hear you man. Trades on mpex the past month look like some heavy insider trading for millions of shares, making the people that sold for a much lower price almost half of the mpex shares. Erik, was this you buying up or one of your friends with inside knowledge? Of course it was him. Remember when he was going to steal all the dividends last month too? Dude knows how to extract bitcoins from the community. He has probably acquired the majority of the float on MPEX over the last month. |
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ThickAsThieves
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July 18, 2013, 03:55:50 PM |
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Seriously??? I am really shocked to see most of you are so happy with this ending.
Apparently, Erik really know finance and really good at misleading people by his knowledge. What happened here is someone took over Erik's shares at a discount price - 0.00126315. Then Erik told us that your share is worth 0.00126315 but I will add another 0.00223685 because I am responsible. Come on! Look at MPEX, the past 30 days average is around 0.0025. I believe this is how they value shares at real life stock market.
This is not the only one. When Erik tried to offer the shares at first, the shares are valued at 8 P/E ratio. Afterward when people start to losing money and blame Erik, he was like - don't too focus on price movement, please look at
annualized return, the P/E ratio is 8! Now when he try to buy back those shares, he seems forget to mention P/E at all - its time to look back to price! Wow! What a generous guy! If we give the 8 on current earning, the price will be at least 0.0045.
Is this fair???
If we ignore all the noises - the buyout thing, the 0.00126315 and the new owner - no one know if they are really exist. What we are 100% sure is Erik issued shares at around 0.0035. Now he buy back at same price. What he got? A business with public recognition through IPO. What shareholders got? Nothing.
Is this fair???
I hear you man. Trades on mpex the past month look like some heavy insider trading for millions of shares, making the people that sold for a much lower price almost half of the mpex shares. Erik, was this you buying up or one of your friends with inside knowledge? Not saying it was. It could well have been the buyer. Just asking. It also could have been the new owner. |
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