Investing in SatoshiDICE actually peaked my interest. These returns are ridiculous though...
0.0033278 BTC for 1/100M of 10%? Are you insane?
Topic: [CLOSED] S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx - page 107. (Read 316363 times)
August 20, 2012, 01:02:56 AM
August 20, 2012, 12:52:53 AM
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did i read the fine print right, 100,000,000 shares at .0032 or 3,200,00 btc or more than 30 million usd?
that is insane...
that is insane...
Your math is a little broken there, but as they say practice makes perfect.
I dont see it - checks out fine.
August 20, 2012, 12:47:40 AM
I'm not a tech, but I would guess the same thing is stopping someone today that stopped someone up until today. And also the same thing that stopped all the groupon clones from becoming groupon and all the facebook/twitter clones from becoming facebook/twitter. In the words of the once-famous Jerry Seinfeld,
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No Resources, No Skills, No Talent, No Ability...
A very good point, SD did get its name out there and established
Care to elaborate what mistake was made with the maths.
First, I am not knocking the website/business. I think it was clever, well executed, and they deserve credit.
Comparing them to facebook is ludicrous when trying to infer they have a wide moat around their business model
that is impenetrable from others looking to take a piece of the pie.
As soon as a clone is polished up, offers better payouts for the same exact bet, SD will have to match it
(thus reducing profits) or admit they cannot control the market for this type of gambling. Word of mouth is
strong in bitcoin land and most users know where to get the best bang for their btc. A simple add on this website
and a few others would reach many users over a one week period getting the clone's name out there immediately.
August 20, 2012, 12:40:44 AM
I'm not a tech, but I would guess the same thing is stopping someone today that stopped someone up until today. And also the same thing that stopped all the groupon clones from becoming groupon and all the facebook/twitter clones from becoming facebook/twitter. In the words of the once-famous Jerry Seinfeld,
Quote
No Resources, No Skills, No Talent, No Ability...
A very good point, SD did get its name out there and established
Care to elaborate what mistake was made with the maths.
August 20, 2012, 12:30:58 AM
Quote
did i read the fine print right, 100,000,000 shares at .0032 or 3,200,00 btc or more than 30 million usd?
that is insane...
that is insane...
Your math is a little broken there, but as they say practice makes perfect.
Quote
yeah, i was like lulz....
Me too. Cause of the math. In general money people are good with numbers.
Quote
what is stopping someone from coding up a clone of satoshi dice over a weekend and taking a piece of
the pie... thus reducing your profits.
it seems that is a major threat i would love to hear countered.
the pie... thus reducing your profits.
it seems that is a major threat i would love to hear countered.
I'm not a tech, but I would guess the same thing is stopping someone today that stopped someone up until today. And also the same thing that stopped all the groupon clones from becoming groupon and all the facebook/twitter clones from becoming facebook/twitter. In the words of the once-famous Jerry Seinfeld,
Quote
No Resources, No Skills, No Talent, No Ability...
Go with the flow, hate less, live longer.
August 20, 2012, 12:28:17 AM
did i read the fine print right, 100,000,000 shares at .0032 or 3,200,00 btc or more than 30 million usd?
that is insane...
that is insane...
So...all the public shares have a total of 10 millions, that's 10% of total shares.
Let's say I buy 1 million shares to get 1% of satoshidice.
1 000 000 x 0.0032 = 3200 BTC.
It costs 3200 BTC to buy 1%.
Expected to have 2700 BTC / month in total profit. 1% of 2700 BTC = 27 BTC.
It cost me 3200 BTC to get 27 BTC / month and it would take me around 118 months to recoup my initial investment, or around 10 years.
I like satoshidice and I appreciate its potential....but I'm not sure at all.
Let's say I buy 1 million shares to get 1% of satoshidice.
1 000 000 x 0.0032 = 3200 BTC.
It costs 3200 BTC to buy 1%.
Expected to have 2700 BTC / month in total profit. 1% of 2700 BTC = 27 BTC.
It cost me 3200 BTC to get 27 BTC / month and it would take me around 118 months to recoup my initial investment, or around 10 years.
I like satoshidice and I appreciate its potential....but I'm not sure at all.
I am convinced you are not a ponzi scheme - mainly because the returns are so unattractive
There is at least 1 clone of SD: http://btcdice.com/
And a "themed" clone of satoshidice: http://satoshiroulette.com/
with the market expected to grow I dont see people ever getting their ROI.
Also Id like to know what bank SD has behind the casino
August 20, 2012, 12:25:16 AM
There are clones up and running
I'm working on a variant myself
I'm working on a variant myself
August 20, 2012, 12:21:22 AM
what is stopping someone from coding up a clone of satoshi dice over a weekend and taking a piece of
the pie... thus reducing your profits.
it seems that is a major threat i would love to hear countered.
the pie... thus reducing your profits.
it seems that is a major threat i would love to hear countered.
August 20, 2012, 12:20:43 AM
BTW, it seems that a couple of people made the mistake.
In the IPO, the shares are valued at 0.0001 BTC each for a total of 10 000 BTC. But they sell at 0.0032+.
In the IPO, the shares are valued at 0.0001 BTC each for a total of 10 000 BTC. But they sell at 0.0032+.
August 20, 2012, 12:14:44 AM
SatoshiDICE is worth 320,000 BTC or $3,200,000 at $10/BTC?
August 20, 2012, 12:14:27 AM
So...all the public shares have a total of 10 millions, that's 10% of total shares.
Let's say I buy 1 million shares to get 1% of satoshidice.
1 000 000 x 0.0032 = 3200 BTC.
It costs 3200 BTC to buy 1%.
Expected to have 2700 BTC / month in total profit. 1% of 2700 BTC = 27 BTC.
It cost me 3200 BTC to get 27 BTC / month and it would take me around 118 months to recoup my initial investment, or around 10 years.
I like satoshidice and I appreciate its potential....but I'm not sure at all.
Let's say I buy 1 million shares to get 1% of satoshidice.
1 000 000 x 0.0032 = 3200 BTC.
It costs 3200 BTC to buy 1%.
Expected to have 2700 BTC / month in total profit. 1% of 2700 BTC = 27 BTC.
It cost me 3200 BTC to get 27 BTC / month and it would take me around 118 months to recoup my initial investment, or around 10 years.
I like satoshidice and I appreciate its potential....but I'm not sure at all.
yeah, i was like lulz....
August 20, 2012, 12:01:32 AM
So...all the public shares have a total of 10 millions, that's 10% of total shares.
Let's say I buy 1 million shares to get 1% of satoshidice.
1 000 000 x 0.0032 = 3200 BTC.
It costs 3200 BTC to buy 1%.
Expected to have 2700 BTC / month in total profit. 1% of 2700 BTC = 27 BTC.
It cost me 3200 BTC to get 27 BTC / month and it would take me around 118 months to recoup my initial investment, or around 10 years.
I like satoshidice and I appreciate its potential....but I'm not sure at all.
Let's say I buy 1 million shares to get 1% of satoshidice.
1 000 000 x 0.0032 = 3200 BTC.
It costs 3200 BTC to buy 1%.
Expected to have 2700 BTC / month in total profit. 1% of 2700 BTC = 27 BTC.
It cost me 3200 BTC to get 27 BTC / month and it would take me around 118 months to recoup my initial investment, or around 10 years.
I like satoshidice and I appreciate its potential....but I'm not sure at all.
August 19, 2012, 11:58:08 PM
facebook lol
Facebook doesnt have a business plan apart from selling your personal info to other companies.
August 19, 2012, 11:53:16 PM
Here's the FAQ http://polimedia.us/bitcoin/faq.html
The FAQ mentions about having to pay a 20 BTC amount to register your GPG key with them.
So does this mean that it would cost each person 20 BTC just to put in a bid for the shares?
Yes.
Also by the end of next week GLBSE will have options available (and the ability to make options) on all assets listed on GLBSE.
August 19, 2012, 11:52:42 PM
facebook lol
August 19, 2012, 11:49:57 PM
Here's the FAQ http://polimedia.us/bitcoin/faq.html
The FAQ mentions about having to pay a 20 BTC amount to register your GPG key with them.
So does this mean that it would cost each person 20 BTC just to put in a bid for the shares?
August 19, 2012, 11:48:01 PM
So how could I bid?
Hopefully someone will setup a GLBSE passthrough so people dont have to deal with MPEX.
August 19, 2012, 11:41:12 PM
So how could I bid?
Admitedly, MPEx is a bit more complicated to use than GLBSE.
Here's the FAQ http://polimedia.us/bitcoin/faq.html
It's run by Mircea Popescu (you can contact him with questions: mircea_popescu on IRC http://webchat.freenode.net/?channels=bitcoin-assets )
August 19, 2012, 11:30:40 PM
So how could I bid?
August 19, 2012, 11:15:31 PM
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