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Author Topic: Satoshi Dice Buy out: 126,315 BTC! Payout to be released to share holders!  (Read 9088 times)
Spekulatius (OP)
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July 17, 2013, 11:58:14 PM
Last edit: July 18, 2013, 12:54:03 PM by Spekulatius
 #1

Just in: https://bitcointalk.org/index.php?topic=101902.msg2751536#msg2751536

Quote
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).


1. How much money is Satoshi Dice being bought out for? (prior owners+MPEX share holders)

For a total of 155394.05 BTC
I think the number you want is:

13 000 000 x 0.0035 = 45 500
87 000 000 x 0.00126315 = 109 894.05

For a total of 155 394.05


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. […] The payout will occur in roughly 20 increments over a period of several hours

2. What is the public share in the buy out and what is the prior owner's (Eric, etc)share in it?

3.
Will the TOTAL amount be payed out in BTC or USD or parts parts?

4.
WHEN will the money be released? All in one go or in intervals?

Around 12pm UTC today, the 18th of June 2013. Over a period of a few hours in 20 increments.

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. […] The payout will occur in roughly 20 increments over a period of several hours

If it hits exchanges, which ones will be chosen in shadows of current withdrawal issues at MtGox?[/b] (>>>Short on BitStamp via Bitfinex now Wink??
N12
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July 18, 2013, 12:06:44 AM
 #2

Goodbye, triple digits.

Also, If I trust what I read, it's actually 350k BTC:

SatoshiDice has arranged to pay MPEX holders an additional .00223685 BTC per share bringing the total to 0.0035 BTC per share.
superduh
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July 18, 2013, 12:10:14 AM
 #3

Goodbye, triple digits.

who HAS that many coins - very few people in the world.
do they need to buy the coins first? very interesting indeed

ok
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July 18, 2013, 12:12:13 AM
 #4

Either early miners like Satoshi or knightmb or a conglomerate of people like the Winklevoss, or a company like MtGox/Tibanne.
Equilux
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July 18, 2013, 12:13:23 AM
 #5

Why would they be exchanged for dollars? Isn't it far more likely they'll find their way into other BTC denominated assets??

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July 18, 2013, 12:14:44 AM
 #6

Why would they be exchanged for dollars? Isn't it far more likely they'll find their way into other BTC denominated assets??
Not all of them need to to depress the price. Even a small fraction would be sufficient. It's summer in the hemisphere that most people inhabit, and I'm sure some people would like a good vacation on a yacht. Cheesy
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July 18, 2013, 12:15:28 AM
 #7

Just watching the charts... $65 - 104 was 150k BTC rally...
Spekulatius (OP)
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July 18, 2013, 12:18:11 AM
 #8

Goodbye, triple digits.

who HAS that many coins - very few people in the world.
do they need to buy the coins first? very interesting indeed

If payout is tomorrow, I pressume they have already acquired those Bitcoins.
herzmeister
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July 18, 2013, 12:19:14 AM
 #9

so what's left on MPEX? Except MPEX shares? So MPEX is officially a Ponzi now?  Huh

https://localbitcoins.com/?ch=80k | BTC: 1LJvmd1iLi199eY7EVKtNQRW3LqZi8ZmmB
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July 18, 2013, 12:24:29 AM
 #10

What if the buyer is an established casino firm that wanted to get into the Bitcoin game? If that's the case, then they would've been accumulating beforehand and have been responsible for some of the buying pressure. This would now be gone, along with 350k coins released on the market.

I smell blood.
TraderTimm
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July 18, 2013, 12:28:38 AM
 #11

Cross posted reply to Erik "Business As Usual - What, are you mad?" Voorhees:

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.




fortitudinem multis - catenum regit omnia
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July 18, 2013, 12:39:56 AM
Last edit: July 18, 2013, 02:44:42 AM by BitPirate
 #12

Jumping to conclusions much?

Why would s.dice holders receiving modest payouts dump their dividends all at once?

They're not releasing all BTC126k to one person you know.

"The sky is falling, the sky is falling!"
^ THIS is far more likely to depress the price, and it's YOUR fault.  Judging by this thread, you guys probably know that well.

*edited for auto-incorrect

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July 18, 2013, 12:41:51 AM
 #13

Jumping to conclusions much?

Why would s.dice holders receiving modest payouts dump their dicidends all at once?

They're not releasing all $160 to one person you know.

"The sky is falling, the sky is falling!"
^ THIS is what depresses the price, and it's YOUR fault.


There are 100 million shares, so it's 350k BTC, and they're to be released tomorrow within a few hours:

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. […] The payout will occur in roughly 20 increments over a period of several hours

The sky isn't falling, the sun is exploding and it's consuming the earth. Goodbye.

edit: Nvm, I read you wrong. Of course they won't dump their dividends all at once. Just a fraction.
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July 18, 2013, 12:43:08 AM
 #14

What if the buyer is an established casino firm that wanted to get into the Bitcoin game? If that's the case, then they would've been accumulating beforehand and have been responsible for some of the buying pressure. This would now be gone, along with 350k coins released on the market.

I smell blood.

What if you're making shit up?

Seriously, you love these scare stories, don't you?

I smell bearshit.

superduh
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July 18, 2013, 12:43:23 AM
 #15

Jumping to conclusions much?

Why would s.dice holders receiving modest payouts dump their dicidends all at once?

They're not releasing all $160 to one person you know.

"The sky is falling, the sky is falling!"
^ THIS is what depresses the price, and it's YOUR fault.


There are 100 million shares, so it's 350k BTC, and they're to be released tomorrow within a few hours:

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. […] The payout will occur in roughly 20 increments over a period of several hours

The sky isn't falling, the sun is exploding and it's consuming the earth. Goodbye.

he said that mpex shareholders are being paid more than private investors. he also mentioned total he is getting from the sale so he's not going to be adding an extra 20000 coins out of his own pocket

ok
Spekulatius (OP)
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July 18, 2013, 12:44:05 AM
 #16

OK PPL, PLS LETS GET SOME FACTS STRAIGHT HERE BEFORE WE GO ON!

I will add those in the top post for easy visibility:

1. How much money is Satoshi Dice being bought out for? (prior owners+MPEX share holders)

2.
What is the public share in the buy out and what is the prior owner's (Eric, etc)share in it?

3.
Will the TOTAL amount be payed out in BTC or USD or parts parts?

4.
WHEN will the money be released? All in one go or in intervals?

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July 18, 2013, 12:49:35 AM
 #17

3. Will the TOTAL amount be payed out in BTC or USD or parts parts?

4. WHEN will the money be released? All in one go or in intervals?
I think those are pretty clear from his post. All BTC, and on the time:

"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."
Spekulatius (OP)
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July 18, 2013, 12:59:31 AM
 #18

3. Will the TOTAL amount be payed out in BTC or USD or parts parts?

4. WHEN will the money be released? All in one go or in intervals?
I think those are pretty clear from his post. All BTC, and on the time:

"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."

Yes, thx. I edited your citations into my OP.
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July 18, 2013, 01:05:51 AM
 #19

I don't know what's so complicated about question 1.

126 315/0.00126315=100 000 000

100 000 000*0.0035=350 000 000

350k BTC.
Spekulatius (OP)
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July 18, 2013, 01:33:58 AM
 #20

I don't know what's so complicated about question 1.

126 315/0.00126315=100 000 000

100 000 000*0.0035=350 000 000

350k BTC.

Im not sure whether you interpret Eric's statement right;
there are 100M shares.
EACH share is valued @ 0.00126315 BTC
100M*0.00126315 BTC=126315 BTC

So this is the maximum sum of BTCs to be released in this trade.

ONLY MPEX holders will be paid an additional .00223685 BTC per share bringing the total to 0.0035 BTC per MPEX share.
This bonus has to come out of other share's pockets. Not sure how the shares on Havelock investment are treated or if Eric pays this extra out of his part of the deal but I guess the new owners wont pay double the price Eric stated the shares are worth.
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