[BF and BTCT] Gamma SatoshiDICE Pass Through

[DeaDTerra]

Hey guys, I m happy to provide this service and to bring you GSDPT

Introduction:
Do you want to invest in SatoshiDice without having to go through the trouble of setting up a account on MPex or simply want to avoid to 20 BTC fee for account creation. Then look no further! GSDPT is a perfect way to invest in SatoshiDice through GLBSE, no trouble and all of the gain Each share will be purchased for the face value of the share on MPex the pricing will be the following:
There will be three blocks of shares released:
1)   2 million shares @ 0.0032 btc (Aug 24, Midnight GMT)
2)   5 million shares @ 0.0034 btc (Aug 25, Midnight GMT)
3)   3 million shares @ 0.0037 btc (Aug 26, Midnight GMT)
The IPO will be on the 24th at 20:00 GMT+1 each share will be sold for 0.0032 BTC.


Contract:
Each share has the right to 95% of the dividends paid by S.DICE listed on MPex (http://polimedia.us/bitcoin/mpex.php?mpsic=S.DICE). Each GSDPT is backed up by one share of S.DICE share. The dividend will be paid within 48 hours of the payment from S.DICE if this is not possible the dividend will be paid out together with the next dividend. The issuer has the right to issue more shares and buy back shares (for the value of 1 S.DICE on MPex). The shares have no voting rights.

One point I forget to mention : I do trades free of charge. You can trade your S.DICE for GSDPT or your GSDPT for S.DICE 1:1. I also offer to liquidate the bond on MPex for a 1:1 trade between the amount liquidated by selling the bond and the amount you will receive.

https://bitfunder.com/asset/G.SDICE
https://btct.co/security/GSDPT

As always if you have any questions or concerns please do ask!

//DeaDTerra

[DeaDTerra]

bump
//DeaDTerra

[MPOE-PR]

Good luck!

[evoorhees]

Thanks Ludvig!

[ciuciu]

Good luck!

Just that everybody knows, this exchange is run by a dubious Romanian character, who is a content stealer, spammer, wannabe porn website owner, called Mircea Popescu.

(NSFW) http://polimedia.us/dtng/f/
http://polimedia.us/bitcoin/mpex.php

https://bitcointalk.org/index.php?topic=74399.0
https://bitcointalk.org/index.php?topic=67535.msg862177#msg862177

[DeaDTerra]

Thanks Ludvig!

Good luck!

Thank you guys for letting me set this service up, hopefully everyone will be happy with this solution
//DeaDTerra

[DeaDTerra]

Good luck!

Just that everybody knows, this exchange is run by a dubious Romanian character named Mircea Popescu, who is a content stealer, spammer, wannabe porn website owner, called Mircea Popescu.

(NSFW) http://polimedia.us/dtng/f/
http://polimedia.us/bitcoin/mpex.php

https://bitcointalk.org/index.php?topic=74399.0
https://bitcointalk.org/index.php?topic=67535.msg862177#msg862177

Oh please, the forum have had enough fud with all the pirate stuff.
Please GTFO from my thread before I become pissed
This is off-topic and I want none of it here please, go setup your own thread where you can do whatever you would like but here we keep it to the IPO at hand.
//DeaDTerra

[bitdragon]

anyway you could create a another asset for short and somehow link the shorters to the longers, thus not necessarily be a passthrough and do your own market when there is a balanced orderbook.
Does this make any sense at all?

[DeaDTerra]

anyway you could create a another asset for short and somehow link the shorters to the longers, thus not necessarily be a passthrough and do your own market when there is a balanced orderbook.
Does this make any sense at all?

It makes sense though for me it feels like a bit to much trouble, but if someone wants to lend my shares to short then I am fine with that
//DeaDTerra

[DeaDTerra]

To add some value to the asset to justify my admin fee I am going to offer 1:1 trades between S.DICE and GSDPT.
If you no longer want to hole you share of GSDPT then you can simply trade it for S.DICE share, I will also be providing buy backs as best as I can (this really depends on the liqudity of the S.DICE bonds and the price on MPex for the bonds). If I can sell of S.DICE on MPex then I will offer to trade 1 GSDPT for the amount 1 share of S.DICE would sell on MPex. For all trades and conversion between exchanges and share I as the manager absorb all the trade/transfer fees.
//DeaDTerra

[SNS]

launch date on GLBSE 2013-04-24 14:00:00 

[puffn]

It is too bad DeaDTerra didn't get the Kraken passthrough. We may have gotten decent terms in that case.

[DeaDTerra]

launch date on GLBSE 2013-04-24 14:00:00 

Well that's wrong xD thanks for notifying me I will get Nef to fix it
//DeaDTerra

[DeaDTerra]

It is too bad DeaDTerra didn't get the Kraken passthrough. We may have gotten decent terms in that case.

I am working on it ^^
I have talked to Patrick and I might get to join Kraken #2
//DeaDTerra

[Bitcoin Oz]

launch date on GLBSE 2013-04-24 14:00:00 

Well that's wrong xD thanks for notifying me I will get Nef to fix it
//DeaDTerra

lol I hate it when that happens

[evoorhees]

UPDATED STATS (Aug 24)

When the IPO was announced about 6 days ago, the P/E ratio was 10x.  Some people said that was too high of a valuation and we've been debating this as is proper.

I updated the stats today to reflect the past week of numbers, as well as added a new metric showing P/E based on past 30 days (not based on all time performance).

https://docs.google.com/spreadsheet/ccc?key=0Aiec3-Eo_yO5dG5SQklHZG4wRm1GMW9DRWpMMW5UQkE#gid=0

Current P/E based on all-time performance: 8.79x
Current P/E based on past 30 days performance:  4.72x

Thus, if SatoshiDICE remains flat from here, and neither grows nor shrinks in usage from actual past 30 days' performance, it's priced at a 4.72x multiple. Annual dividend yield of IPO prices is 21.20%

I can't stress enough that all these numbers are based on actual real-life performance, they are not wild-eyed estimates of possible future growth figures, etc. I think it will be hard to continue to argue that this asset is priced unreasonably.

[DeaDTerra]

I have started issueing and selling off shares
I will then transfer the funds raised to MPex and place a bid to prepare for the SD IPO.
//DeaDTerra
*Edit* a bug on GLBSE has prevented me from selling the shares more updates soon*

[DeaDTerra]

The ask wall is up
Place your bids!
//DeaDTerra

[jackmaninov]

Go go GLBSE funkyness. From #bitcoin-assets:

Code:

[18:00] <@assbot> [GLBSE] [GSDPT] 1 @ 0.0032 BTC
...
[18:03] <@assbot> [GLBSE] [GSDPT] 1 @ 0.0032 BTC
[18:04] <@assbot> [GLBSE] [GSDPT] 300 @ 0.0032 = 0.96 BTC
...
[18:04] <@assbot> [GLBSE] [GSDPT] 1000 @ 0.0032 = 3.2 BTC
[18:05] <@assbot> [GLBSE] [GSDPT] 999 @ 0.0032 = 3.1968 BTC
...
[18:05] <@assbot> [GLBSE] [GSDPT] 20 @ 0.0032 = 0.064 BTC

Then the last trade listed on GLBSE is 47679@0.0032, so that trade (which didn't print on IRC) got the rest of the shares.

[mcris444]

Go go GLBSE funkyness. From #bitcoin-assets:

Code:

[18:00] <@assbot> [GLBSE] [GSDPT] 1 @ 0.0032 BTC
...
[18:03] <@assbot> [GLBSE] [GSDPT] 1 @ 0.0032 BTC
[18:04] <@assbot> [GLBSE] [GSDPT] 300 @ 0.0032 = 0.96 BTC
...
[18:04] <@assbot> [GLBSE] [GSDPT] 1000 @ 0.0032 = 3.2 BTC
[18:05] <@assbot> [GLBSE] [GSDPT] 999 @ 0.0032 = 3.1968 BTC
...
[18:05] <@assbot> [GLBSE] [GSDPT] 20 @ 0.0032 = 0.064 BTC

Then the last trade listed on GLBSE is 47679@0.0032, so that trade (which didn't print on IRC) got the rest of the shares.

Damn. The 999 was only a test buy to make sure GLBSE was working. I wanted more!