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Author Topic: [CryptoStocks] Satoshi Poker IPO  (Read 8025 times)
BitcoinFlush
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October 17, 2013, 01:55:20 PM
 #21

Below is a quote from you or one of your co-workers on 2+2 - can you please explain how you are going to acquire critical mass when you can't even acquire players charging zero rake on HU games and only 1% on normal games? What is your marketing strategy because as you yourself point out undercutting all of your competition in price didn't have any impact on player numbers at all.

Rake
We had a lot of complaints from affiliates about lowering the rake to 1%. It didn't bring any extra players in but cut their affiliate income in half. Also the rake free heads up games didn't attract any attention or didn't get any more tables started.

The rake system is now installed as follows and will not be changed in the near future:

Base rake: 2%
Rake cap: 100 chips (0.01 btc)
That is actually my quote. We are growing on weekly basis in number of traffic. Aquiring the software is part of the marketing strategy as now we can only market to players with a windows machine; no mac or mobile support. Having the new multiplatform client will increase our market (as we can market mac and mobile) and besides increases the time our current players can spend on the site. Traffic brings traffic.

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October 17, 2013, 02:01:28 PM
 #22

this IPO is bs, dudes are sleazy

these guys have been here like 2 or 3 times lookin for money

this is a cash-out plain and simple

they built this thing, n now they wanna cash out on its "potential", then drop it like a hot turd

dont waste ur money
BitcoinFlush
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October 17, 2013, 02:19:52 PM
 #23

this IPO is bs, dudes are sleazy

these guys have been here like 2 or 3 times lookin for money

this is a cash-out plain and simple

they built this thing, n now they wanna cash out on its "potential", then drop it like a hot turd

dont waste ur money

Yes we have taken out some investments in the past and now in cooperation with these investors we have now set up this IPO. The IPO is real and this is is a cashout of equity to make the neccesary investments to take my company further. I have been working on this project since april, investing over 20h/day and $100K+ in the site. If you don't believe in my company, then so be it. The company is listed under my own name in Holland and even carries my name. I show full transparancy, as I have no intention of dropping my dream company, hence the reason there were investors who believed in the product and paid a 0.00008 share price on these investments. If have any signs we would drop it like a hot turd, then please elaborate on that statement, because as far as I see, you are just hating Wink

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October 17, 2013, 02:20:11 PM
 #24

Excellent criticism in here. OP, listen to these people. And see here.

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October 17, 2013, 02:24:18 PM
 #25

First of all, this might be the biggest overvaluation in the history of all valuations I've ever seen. The site hardly gets any traffic whatsoever and the little action there is, is freeroll action. Letsbehonestfor1second.

OP even blatantly lies in the post above where he says:

And you're basing your valuation on what revenue and profitability numbers?
For over 2 months we have been averaging between 2.5 and 4 btc per day in rake and tournament fees. With this investment we can purchase superior software and grow to become a top5 pokersite.

-The site has a Bad-beat-jackpot counter that has barely moved since the sites inceptions,  its only +1.4 bitcoins. (10bitcoin manually added day1) How can that be with up to 4bitcoin in rake&fees a day? Please explain. This just appears like another lie/halftruth I've come across by you guys.

Also the timing is very peculiar, as it is well-know that a large poker project is announcing its presence with a Beta in a few weeks.. Are you guys aware? the timing might definitely suggest so... Not only that, Seals is also planning a new software release in a couple months... Maybe that would be relevant to mention to your investors??

If you wish to use the math, then please apply it correctly before accusing me of lying. The bad beat jackpot only accounts for the table which have the tag [jackpot] on cash game holdem tables of NL20 and higher. Omaha, O8, Stud, Stud hi/lo, holdem cashgames of NL10 and lower and tables without the tag [jackpot] are not contributing to the bad beat jackpot.

Also the tournament fees are not contributing to this pot. You use a figure as measurement which can't give you any certain statistic at all. Since 2012 there are various 'big poker projects' about to launch. We chose to do this IPO now as we believe now is the right time to do it. It will give us the time for the preparation to the new software client and get our tech team together to work on it, before it's released in December. I wish to combine this with my vision to create the first community owned pokersite ever and I would need at least a month to get all the software in place, plus a talented coder.






You guys are unreal, I usually just lurk but this hit a nerve.

The fact that not all the tables have bad-beat-jackpot does not explain why the generated number is just 1.4 bitcoins, we are talking about months and you stated to your potential investors that you generate 2.5 to 4 btc in rake each day.

That number is so absurd, I'ts an obvious lie.

Just imagine, that amount of rake each day, what volume of deposits you would have to get.. Take the most generous number ever, around 10btc. PLEASE POST YOUR WALLET ADDRESS so everyone can see and validate themselves if your words hold up.

And as "addi" correctly pointed out, the amount of active tables running would be an considerable amount.. please post some graphs or documentation from your cms system (if there is one)

And you write above:

" It will give us the time for the preparation to the new software client and get our tech team together to work on it, before it's released in December."

while in your own forum thread you wrote just a few hours ago that the plan is to buy the software from a company called Enterra.. so Which is it? Or perhaps you are Enterra? and how on earth will this new software be ready by December, its a couple months..

It just doesn't hold up, even the amounts you are asking, for a fraction, if anyone wanted they could probably buy a software license themselves, buy a .org domain and throw together a template webpage with stock images and probably do a better job at it...

You guys should be banned

BitcoinFlush
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October 17, 2013, 02:30:07 PM
 #26

Excellent criticism in here. OP, listen to these people. And see here.
Yes, I still remember that you helped me to set up a GPG code in the past, Mircea. Thing was that I didn't have the time to find out how all these systems worked and with the first investor requesting specificly to be listed on bitfunder, I chose not to go through the hassle and get listed there instead of on mpex. I will always listen to founded criticism and there are indeed some valid questions in this post, which is why I take time to answer them. Thanks for your starters guide. You know who some of the investors behind Satoshi Poker are, so if you don't mind I'll pass on reading it completely.

Good luck with mpex!

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October 17, 2013, 02:34:42 PM
 #27

Your valuation, at this stage, is nuts. I told you that months ago, and very little has changed.

Furthermore, you conducted yourselves very unprofessionally, including insults when I declined your previous solicitations. I personally don't care about being insulted, but it does speak to your management style.

The problems you had while fund-raising before are still there. There is much more risk of NOT growing to be a 20,000 bitcoin company than you are accounting for.

The fact is, that if you had a fair offer, good reputation, and track record of being motivated and demonstrating, there is plenty of private money out there to back a bitcoin startup.

You already purchased software that was to be your saving feature, now you want something else?
Have you created a web-based version yet?
Wasn't BitFunder supposed to list you?
BitcoinFlush
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October 17, 2013, 02:36:26 PM
 #28

You guys are unreal, I usually just lurk but this hit a nerve.

The fact that not all the tables have bad-beat-jackpot does not explain why the generated number is just 1.4 bitcoins, we are talking about months and you stated to your potential investors that you generate 2.5 to 4 btc in rake each day.

That number is so absurd, I'ts an obvious lie.

Just imagine, that amount of rake each day, what volume of deposits you would have to get.. Take the most generous number ever, around 10btc. PLEASE POST YOUR WALLET ADDRESS so everyone can see and validate themselves if your words hold up.

And as "addi" correctly pointed out, the amount of active tables running would be an considerable amount.. please post some graphs or documentation from your cms system (if there is one)

And you write above:

" It will give us the time for the preparation to the new software client and get our tech team together to work on it, before it's released in December."

while in your own forum thread you wrote just a few hours ago that the plan is to buy the software from a company called Enterra.. so Which is it? Or perhaps you are Enterra? and how on earth will this new software be ready by December, its a couple months..

It just doesn't hold up, even the amounts you are asking, for a fraction, if anyone wanted they could probably buy a software license themselves, buy a .org domain and throw together a template webpage with stock images and probably do a better job at it...

You guys should be banned

Lovely, all these 8 posts accounts to come over here Smiley

Everybody who plays at our site is aware that we bought our software from Enterra Poker. We are not Enterra itself, just their customers. For the new client I dont only wish to purchase the license but also the source code so we can do the modifications ourselves. Total license fee is $90k and the source an additional $100k. Their software will be ready in december as they have been working on it for months, since their current platform is no longer meeting the minimal industry standards. If you think that you can buy that package and just throw together a template and get a pokersite running, then I strongly advice you stay far away from the poker business. As you're not interested in aquiring any shares in my company, I wish you good luck finding another company to invest in.

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BitcoinFlush
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October 17, 2013, 02:43:17 PM
 #29

Your valuation, at this stage, is nuts. I told you that months ago, and very little has changed.

Furthermore, you conducted yourselves very unprofessionally, including insults when I declined your previous solicitations. I personally don't care about being insulted, but it does speak to your management style.

The problems you had while fund-raising before are still there. There is much more risk of NOT growing to be a 20,000 bitcoin company than you are accounting for.

The fact is, that if you had a fair offer, good reputation, and track record of being motivated and demonstrating, there is plenty of private money out there to back a bitcoin startup.

You already purchased software that was to be your saving feature, now you want something else?
Have you created a web-based version yet?
Wasn't BitFunder supposed to list you?
Hi TaT,

I can't recon having ever insulted you and if I did, i offer you my sincere apologies. Indeed the plan was to get listed on bitfunder and if you look at the asset list on bitfunder, you will see that we are already listed there. Considering the situation bitfunder is in right now, all the shares plumiting and US investors being forced to leave the site, me and the other investors decided in cooperation with Ukyo to not get listed on Bitfunder. If you have followed our progress you might have seen that we did have a beta of a browser based (html5) client but that it has so many bugs that we chose to further improve our desktop client and wait for the development of their new native clients.

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Bitsandbits
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October 17, 2013, 02:48:19 PM
 #30

You guys are unreal, I usually just lurk but this hit a nerve.

The fact that not all the tables have bad-beat-jackpot does not explain why the generated number is just 1.4 bitcoins, we are talking about months and you stated to your potential investors that you generate 2.5 to 4 btc in rake each day.

That number is so absurd, I'ts an obvious lie.

Just imagine, that amount of rake each day, what volume of deposits you would have to get.. Take the most generous number ever, around 10btc. PLEASE POST YOUR WALLET ADDRESS so everyone can see and validate themselves if your words hold up.

And as "addi" correctly pointed out, the amount of active tables running would be an considerable amount.. please post some graphs or documentation from your cms system (if there is one)

And you write above:

" It will give us the time for the preparation to the new software client and get our tech team together to work on it, before it's released in December."

while in your own forum thread you wrote just a few hours ago that the plan is to buy the software from a company called Enterra.. so Which is it? Or perhaps you are Enterra? and how on earth will this new software be ready by December, its a couple months..

It just doesn't hold up, even the amounts you are asking, for a fraction, if anyone wanted they could probably buy a software license themselves, buy a .org domain and throw together a template webpage with stock images and probably do a better job at it...

You guys should be banned

Lovely, all these 8 posts accounts to come over here Smiley

Everybody who plays at our site is aware that we bought our software from Enterra Poker. We are not Enterra itself, just their customers. For the new client I dont only wish to purchase the license but also the source code so we can do the modifications ourselves. Total license fee is $90k and the source an additional $100k. Their software will be ready in december as they have been working on it for months, since their current platform is no longer meeting the minimal industry standards. If you think that you can buy that package and just throw together a template and get a pokersite running, then I strongly advice you stay far away from the poker business. As you're not interested in aquiring any shares in my company, I wish you good luck finding another company to invest in.

Please post your deposit address validating your rake per day claims.
Please post some graps/docs of player volume

About the costs, you are saying you paid 90k for a software that by your own words does not meet the "minimal industry standards" 5-6months later. Then you now want to buy the source of this "outdated" software for 100k, for then to pay another x amount for the new software (additions?) that will be done in December. Sounds like a great plan.

http://www.youtube.com/watch?v=vpnxd31y0Fo

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October 17, 2013, 02:52:08 PM
 #31

We can't yet compete on prizepools but we are able to market in fenced markets as the US, China, Italia, Spain and so on. Pokerstars can't legally service some of the countries and in other countries it needs to cooperate with governments to make sure its players pay taxes over their winnings. Players who play a lot will look at what is losing them the most money. As satoshi-poker grows, the prizepools will grow. And if ipoker network would ban the bots you will see that it is pretty much a ghost town as well. They choose to make artificial traffic just as Full Tilt did back in the days which got them to 2nd place in traffic and diving down after banning them. We believe we actually have an advantage over other sites being able to market in markets where they can't move to.

I believe we can compete on software, which is why i want to purchase this software package and get dedicated coders on board to lift it up even more.

You are right that we can't compete on rakeback, but does it matter? World's leading site Pokersite doesn't offer its players rakeback. Do players stay away for this? I believe not. Besides that, we do offer rakeback and offer currently the lowest rake in the industry (except for the rake-free btcontilt) on our cash game tables. I believe that our rake structure is competitive enough to be able to win that battle.

If bitcoin poker ever takes off in a big way then big sites will simply start adapting bitcoins? That would still not allow them to move into the specified markets, unless they start refusing fiat currency. Even if Stars would accept bitcoins they couldn't move to the US market



You do realise that offering your services to fenced countries such as Spain Italy etc would be expressly illegal without applying for the appropriate licenses right? Bitcoin does not give you a free pass on circumventing the law.

While playing online poker is not illegal in America, the transfer of funds is. It doesn't matter if it's in U.S. $$$, German Deutschmarks, British pounds or bitcoin the transfer of funds as a result of gambling is still illegal. If by some minor miracle you ever did acheive top 5 poker site I again would happily bet a large sum of money that the DoJ will be knocking down your door - using bitcoin is not a way around servicing the U.S.

Pokerstars doesn't have rakeback but does have industry leading VIP program which for all intensive purposes is equivalent to rakeback.

Offering the lowest rake in the industry has so far garnered you virtually no players despite heavy publicity on 2+2 and Pokerfuse two of the leading poker community websites.

Full tilt did not become second in the industry due to allowing bots - I have no idea where you got that from but it's ridiculous - they got to be second biggest player because they stayed in the U.S. post UIGEA and had and still continue to have the greatest online poker software ever created. Built by a team of more than ten of the most highly paid software developers in the industry.

Your IPO is overvalued by at least an order of magnitude and I strongly advise anyone considering investing in this to do some independent research.
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October 17, 2013, 03:07:28 PM
 #32

Anyone considering this should start by looking at some of the following websites

http://www.pokerscout.com/  (industry std website for measuring leading poekrsites and active number of players - satoshi pokers     7 day average is 1 player, the 5th largest poker site has an average of 2050)

http://diamondflushpoker.com/ (independent poker news site with in-depth coverage of Black Friday and the relevant American laws regarding online poker)

http://forumserver.twoplustwo.com/28/internet-poker/satoshipoker-co-bitcoin-poker-room-official-support-thread-1358099/

This is Satoshi Pokers own thread on the most popular online poker community forum please read through and evaluate for yourself what players who actually use the site are saying about player numbers and available games.


While this list is by no means exhaustive it should provide you with some insight into what Satoshi poker is up against. Online poker is one of the most fiercely competitive industries online with Rational Group holding the lions share of the market generating billions in rake per annum.

It's like me coming up with a new brand of coke and thinking I can take on Coca-Cola and win - it is beyond ridiculous. I am not denying you can possibly run a profitable site but investors will never see a return on this IPO valuation and you have provided no data to suggest otherwise.

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October 17, 2013, 03:10:07 PM
 #33

Full tilt did not become second in the industry due to allowing bots - I have no idea where you got that from but it's ridiculous - they got to be second biggest player because they stayed in the U.S. post UIGEA and had and still continue to have the greatest online poker software ever created. Built by a team of more than ten of the most highly paid software developers in the industry.

Also the full tilt "Play with the pros" marketing campaign before black friday was huge. It was everywhere and anywhere.

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October 17, 2013, 03:12:42 PM
 #34

Full tilt did not become second in the industry due to allowing bots - I have no idea where you got that from but it's ridiculous - they got to be second biggest player because they stayed in the U.S. post UIGEA and had and still continue to have the greatest online poker software ever created. Built by a team of more than ten of the most highly paid software developers in the industry.

Also the full tilt "Play with the pros" marketing campaign before black friday was huge. It was everywhere and anywhere.

Indeed this was one of their major attractions to casual players
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October 17, 2013, 05:02:34 PM
 #35


Please post your deposit address validating your rake per day claims.
Please post some graps/docs of player volume

About the costs, you are saying you paid 90k for a software that by your own words does not meet the "minimal industry standards" 5-6months later. Then you now want to buy the source of this "outdated" software for 100k, for then to pay another x amount for the new software (additions?) that will be done in December. Sounds like a great plan.

http://www.youtube.com/watch?v=vpnxd31y0Fo


You are totally misquoting me. I paid $40k for the current software which was the desktop client and the html5 client (see https://satoshipoker.org/html5).
Im not remotely interested in buying the source of the current client. Enterra rebuilt their software applications from scratch making them fully communicate and native for the mobile users. They charge $90k license fee for all their clients which are: 1 windows desktop client, 1 MacOS client, 1 native android app, 1 iphone app and 1 html5 client. We already own the licenses for our current software. The $90K is to buy licenses for the new bundle package and the $100k is the price tag to get the source code of every one of these products so we can put our own team up to devellop this.

We don't charge rake to a bitcoin address. The rake is deducted from player accounts by our backend and thus we get a surplus in our hot wallet. On weekly basis we check the total player balances and the funds in cold storage and if needed add some funds to these cold wallets. If not needed we use the funds for marketing or promotion. With the IPO we will automatically reserve 50% of all rake in one player account so we can see exactly how much has to be paid out. We will have that account withdraw to CryptoStock and pay out the dividends. I will post you some graphs and statistics tomorrow, even though you are not interested to buy. I had a 3-day session preparing for this and I am in Bangkok time zone. I'm going to get some sleep first.

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October 17, 2013, 05:22:17 PM
 #36

Anyone considering this should start by looking at some of the following websites

http://www.pokerscout.com/  (industry std website for measuring leading poekrsites and active number of players - satoshi pokers     7 day average is 1 player, the 5th largest poker site has an average of 2050)

http://diamondflushpoker.com/ (independent poker news site with in-depth coverage of Black Friday and the relevant American laws regarding online poker)

http://forumserver.twoplustwo.com/28/internet-poker/satoshipoker-co-bitcoin-poker-room-official-support-thread-1358099/

This is Satoshi Pokers own thread on the most popular online poker community forum please read through and evaluate for yourself what players who actually use the site are saying about player numbers and available games.


While this list is by no means exhaustive it should provide you with some insight into what Satoshi poker is up against. Online poker is one of the most fiercely competitive industries online with Rational Group holding the lions share of the market generating billions in rake per annum.

It's like me coming up with a new brand of coke and thinking I can take on Coca-Cola and win - it is beyond ridiculous. I am not denying you can possibly run a profitable site but investors will never see a return on this IPO valuation and you have provided no data to suggest otherwise.



About pokerscout: please look at http://www.pokerscout.com/UntrackedSiteDetail.aspx?site=SatoshiPoker
Based out of UK? No, we are based out of Holland. Servers in UK? No! You can do the lookup yourself as you can see the game server address in almost every text file of our client. To save you time: 184.164.145.234. Software provider Cloud Group? Hmmm. They are a lovely South African hosting company, but I didn't know they sold poker software as well, because they don't. We use enterra's software. You can download their demo at enterra-poker.com and see that it has similarities.

Somebody looking for a rakeback deal listed us on pokerscout.com just to get the referral income. We are working on a feed for pokerscout but it has not been completed yet. There is no way they can track our traffic and the information shown is not correct.

Most of the complaints about Satoshi Poker are about the software. In bitcoin world it can hold its own but it is too lightweight to compete with anybody outside of bitcoin poker. I think we have done a pretty good job in getting players to come over to the site to play their favorite tournaments, but cash games are not catching on as every serious cash gamer wants to play multiple tables. We support it but it hurts the gameplay, which is why i wish to upgrade our software.

I am aiming at becoming a top5 player in online poker within the next year and with the budget provided from the IPO I am confident I will succeed in this mission. I never said I can take on Stars (coca cola in poker) and win. I just tried to show that a bitcoin-only site has some advantages over over sites which can bring a site very far.

Besides that the IPO valuation is not an exact valuation of the company. I know for this investment I can take this company to become a top 5 poker player and as such I am willing to sell 20% of the company for the amount of money needed to do so. If investors believe in me and purchase the shares and I manage to take it to the top 5, the reward and company valuation will be astronomical larger than the price I IPO the current shares for. If investors have no confidence in my ability to take Satoshi Poker there, then no hard feelings.

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October 17, 2013, 07:13:21 PM
 #37

Excellent criticism in here. OP, listen to these people. And see here.
Yes, I still remember that you helped me to set up a GPG code in the past, Mircea. Thing was that I didn't have the time to find out how all these systems worked and with the first investor requesting specificly to be listed on bitfunder, I chose not to go through the hassle and get listed there instead of on mpex. I will always listen to founded criticism and there are indeed some valid questions in this post, which is why I take time to answer them. Thanks for your starters guide. You know who some of the investors behind Satoshi Poker are, so if you don't mind I'll pass on reading it completely.

Good luck with mpex!

I'm not Mr. P. My name's Hannah.

Anyway, taking the cheap and easy way out is likely to land you in mud, which is alright I guess if you're only responsible for yourself, but it gets a lot less harmless once you start soliciting third parties for funds.

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October 17, 2013, 09:41:43 PM
 #38

In this thread https://bitcointalk.org/index.php?topic=249767 you were talking about selling 5% of the company to get 400 btc(so a valuation of it at 8000 btc then) so you could list it on bitfunder, you never cared to answer the questions in that thread.

Could you please explain a few things how many shares in total is there will be in SatoshiPoker is the numbers lavafish mentined in another post 100 000 000 that is on bitfunder the total number of shares in SP and the 5% he mentions whats going to be sold ?

Hi!

....
We are looking to sell 5% of our company's shares, to get 400 BTC in fundings to get ourselves listed on the above sites.
Does it really cost that much to get listed on Bitfunder, 400 BTC ?

So far we had 2 investors comitting themselves to investing each 1% in our company, but under the condition that we fill the entire amount, as with 40% of the needed investment we can't execute our strategy making investing pointless so far. We are still looking for 2 max 3% sale of shares.
So you want to sell 5% of the company pre IPO and what, 5% after IPO  to the public ?

We had everything wrapped up but one of the investors backed out at the last moment. We are still open to sell at most 1% of the company. If interested, please send a PM

I think you mentioned somewhere(on btcjam i believe it was) before that you were one of tree (original) owners in SP, but on bitfunder there seems to be 13 different people owning shares now, the 3 biggest owners only have 74 445 833 shares, around 74,4% if 100 million is the total, even if it was 4 owners and not 3 you said before, then the 4 biggest owners only have 85 800 000 shares or 85,8%. The numbers that is mention in this thread and others dosent seem to add up, has 25,6% or maby 14,2% of the shares been sold pre IPO.
So has more than the mentioned 5% been sold already ? Maby shares for 1136 btc or even 2044 btc then ?

"....Considering all above, I believe that 8000BTC is an absolute undervaluation of our company. Thats all. Gotta run, I have a mission to lead."

What is the valuation of that SatoshiPoker is worth way more 8000 btc based on ?
What is the price per share pre IPO that you sell it for ?
8000/100 000 000 = 0,00008000 btc or 8000 satouchi per share then ?

Where do you have any numbers avaliable for preIPO investors and potential investors after the stock IPO's at bitfunder. Pokerscout (that you mention when comparing to sealswithclubs) don't have any numbers for SatoshiPoker on players(Players Online, Cash Players, 24 Hr Peak, 7 Day Avg) and i havent seen anything metioned what the avg bet, rake or profit is for SatoshiPoker for any weeks in the past, only some mentioning that numbers have gone up ?

So how will this IPO now at cryptostocks instead of Bitfunder work in relation to the shares you already have (sold to people over) at bitfunder in SatouchiPoker and who is selling there shares on cryptostocks ?
From beeing originally 3 owners it now looks like you have 12 investors already before doing the IPO at cryptostocks so there is already 9 public investors then that you have sold 19 950 000 shares to if the original owners is the 3 largest owners. so it looks like you sold 20% of the company already at your pre IPO thing when you said you were going to sell a max of 5%.

https://bitfunder.com/assetlist

"SatoshiPoker  31,416,667    1FZNG6hEg7d2rGucwTs2VaTXaZEbEpWwxb
SatoshiPoker     5,000,000    13DzTjabVGGN64Rc8V7tAkSZJ7BHUxuQqY
SatoshiPoker    15,000,000    16vhbK8k4PyBUCoPyPVERprMs63bPh4hPQ
SatoshiPoker     1,625,000    1BgYQQrNqPrxh4ee9Tn9iVxtKz8g1tH5FA
SatoshiPoker    33,633,333    1DYk2z3NP8gHHCvUgD1WfvPHokE8x6MEcs
SatoshiPoker     3,850,000    1AVLNuMhHbtZTLbKmjCdxyxwWfggxvvZcE
SatoshiPoker     4,000,000    1Mn65Q9Xm6NBoPdF8ppS3AzgRLt92ZKtTq
SatoshiPoker     1,000,000    1C6FEiUCfH8qqmxLvLEmRmhD8eNKuZoq4E
SatoshiPoker       450,000       1CcAFC8oHqKoDkinoamrSD1VKXT3k1CiEV
SatoshiPoker       125,000       1McqmmnxRwZRCpD2VoGEMzCYcdeXYvCBsB
SatoshiPoker       900,000       1Ekn8nzHeV4SG58KhXMz7LRm7eQC87CDYz
SatoshiPoker     3,000,000    1D9sym2UPRhxt3idaF8jn5WUzmWtEvuFbp"

At cryptostocks you have issued another 100 000 000 stocks in this company now so how is that supposed to become 100 000 000 shares in total...

SATOSHI represents Satoshi Poker; Bitcoins premier poker site
Issuer Info
BitcoinFlush is trusted member of the bitcointalk.org forums. Identity information has been provided privately to cryptostocks as a gesture of good faith, and an avenue for emergency contact.
Im not sure that sentence is true, you registered on bitcointalk March 22, 2013, 07:06:17 PM so you have been a member here around a half year, i think most people in here put more trust in people that has been around way longer than that or that they know personally IRL.
Bitcoinflush you were also late on the first payback on your 10 btc loan in BTCjam https://btcjam.com/listings/6852, only by a day or two but still and now your back on track on btcjam.
Hmm, what was it you said over at btcjam "I am confident you guys undertand I will not risk any reputation damage on SatoshiPoker for 50 bitcoins, so be assured the loans will be paid back in time." still you were late on the first payment on you first bigger loan at btcjam....

At Cryptostocks the Satouchipoker's IPO has
Verification level: None
so only the email adress, a gmail adress is shown.

On cryptostocks the verification levels means:

Level         You must provide        We disclose
=================================
None              -                          Email address

Basic              -                          Email address,
                                                 IP address of your last login

Advanced    Account names,        Email address,
                  copy of ID                IP address of your last login,
                                                 account names,
                                                 full name
                                                 

Premium     Account name,           Email address,
                  copy of ID,                IP address of your last login,
                  Postal address            account names,
                                                   full name,
                                                   postal address

So you basically choose the lowest level of verification, the one the scammers at cryptostocks seems to prefer. There is no proof for potential investors that you have provided Identity information to cryptostocks unless you choose at least Advanced level of verification.

Even if Kumala, the owner of cryptostocks would confirm that you provided that, his word would weigh light after the fact that he is stealing(in the form of not paid dividend that he is bound by the contract to pay minority(33%) investors in vircurex and letting them take the full loss) at least 2/3 of the equivalent of 2500 btc and 20 000 usd from his minority investors in Vircurex as he don't take equal responsibility in paying back the loss, and possibly he might also be behind the loss of those sums to, at least he hasn't  provided any evidence that vircurex actually lost any coins or usd even thou it's gone many months now from the first incidence.

The claim that you bring in 2.5-4 btc in daily rake seems absurd to.
from pocerscout:
                                                             Cash player 
#      Site/Network                         24 Hr Peak      7 Day Avg
57      SatoshiPoker.org                           2                   1
They estimate SatoushiPokers Peak number of cash player to 2 !!! and 1 on avg, those two players must play very high stakes to generate those +2.5 btc daily in rake then and wasen't heads up rakefree....

How did you came up with the valuation, the previous one was crazy at 8 000 btc and now even more absurd at 20 000 btc.

...
Reserved Rights
Issuer reserves the following rights:
1. To do a Second Public Offering if market demands justifies
2. To make changes to this contract that represent the best interests of its shareholders
3. To correct and clarify any gross errors or details herein that may prove to be open to misinterpretation

Voting Rights
There are no voting rights associated with the shares.
...
under 2 reserved rights... Best interest of what part of the shareholders, the majority owners or those that might buy a few shares in the company, and who decides if a change is in the best interest of the shareholders....
If no one has any voting rights in the company, not even those with 30 million+ shares how do you expect anything to work if you need to make any changes...

                                               

sparky999
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October 17, 2013, 10:25:46 PM
 #39

So your not refuting the illegality of offering your services to fenced countries such as Spain, Italy, Belgium and the U.S.A.?

BitcoinFlush
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October 17, 2013, 10:28:15 PM
 #40

Excellent criticism in here. OP, listen to these people. And see here.
Yes, I still remember that you helped me to set up a GPG code in the past, Mircea. Thing was that I didn't have the time to find out how all these systems worked and with the first investor requesting specificly to be listed on bitfunder, I chose not to go through the hassle and get listed there instead of on mpex. I will always listen to founded criticism and there are indeed some valid questions in this post, which is why I take time to answer them. Thanks for your starters guide. You know who some of the investors behind Satoshi Poker are, so if you don't mind I'll pass on reading it completely.

Good luck with mpex!

I'm not Mr. P. My name's Hannah.

Anyway, taking the cheap and easy way out is likely to land you in mud, which is alright I guess if you're only responsible for yourself, but it gets a lot less harmless once you start soliciting third parties for funds.
I apologize, I thought you were Mircea. I'm not taking the cheap and easy way out, I'm not landing in mud and so far I have been responsible for over 2000 player's funds. I don't understand the point you wish to make with this remark.

Let's color the MOON: Y1Dxt2kmHoRRWPBEeKv9rzCfcA7EvrWv82
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