I was a bit surprised, I was watching the exchange on another stock S.Dice last time and when the price went up to 200/btc the share prices plummeted and when the price dropped the share price rose. So assumed that the price would actually go up because it cost more in BTC to maintain that share price
One view is that the majority of gamblers consistently devout a certain amount of money to put towards their favorite games. It makes sense that as BTC rises, that these casual players put the same fiat amount of their disposable income into btc for gambling purposes. This equates to anticipated less revenue for s.dice and would lead to a sell off on exchanges. As bitcoin gains in acceptance, more users may play s.dice, but the price may continue to go up long term due to demand. If this view is correct, s.dice could struggle to experience any substantial revenue growth despite a growing user base.
That would explain the variance, with ASIC it is about the network and mining as measured in bitcoin while S.Dice is different
Good observation thanks
