Topic: [CLOSED] S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx - page 23. (Read 316363 times)

Not only is it incredibly poor form to make such announcements unilaterally, whether the proposed measure is ever implemented or not, it'd seem on the surface that what you are contemplating is plainly in breach of your contract with MPEx.

....keep up the good work because accounting can be difficult.

I agree the financial statements I create in google docs aren't ideal. I'm not an accountant, after all. I will find someone by the end of June to prepare more formal statements, so that starting in July the finances are documented properly. It won't be anything elaborate, just something more professional. If any of you have an example of simple financial statements which you'd like me to use to model the SD statements, please link them here or send to me.

Quick announcement - This month is progressing well with site performance. I am going to take this opportunity to have SD retain up to 4k in earnings for June at the end of the month. This means that dividends on earnings up to 4k won't be paid for June (ie - if the site earns 5k, then dividends will be paid on only 1k of earnings).

Before you yell and scream, let me explain the purpose.

Currently I have, personally, provided an ongoing interest-free loan of roughly 6100 btc to SD that is used by SD as its betting pool. This is money that is at risk of hacks and losses, but I've permitted SD to use it because it needed a capital pool. The risk to me was tolerable when Bitcoin was $10-12 each. Now, however, that's a ton of money, and I would like to withdraw the loan.

Thus, earnings for this month (June) will be retained by SD for the purpose of replacing this pool. The pool needs to be roughly 3-4k btc, so the site is on track to earn this amount this month. It's thus a perfect time to do the swap.

Note that because these earnings are retained and owned by SD, if and when they are ever paid out or released from SD, they will go to all shareholders. Thus the betting pool held by SD will from now on be an asset of SD instead of a liability owed to me.  Therefore MPEX holders will, after June, own 13% of the betting pool fund assets. If the site is ever closed down, sold, etc, these funds would be liquidated out to shareholders.

Hopefully that's not too confusing. Please let me know if you have questions about it.

Kind regards,
-Erik

I keen to hear about the new games/development. I'm no interested in the IT salaries as they are the least important. The site and service are solid in the past one and half month, sdice employees are deserved of what they're paid.

Well, kindly look back to where I instantiated my core questions (all of which are yet be answered in a suitable manner). My tone of writing should not make the content of it invalidated... reading so shallowly into it will always yield an inferior understanding of whats it aims are/were.

...

I 100% agree that there is always room for legit questions, and the showing of support for them to be answered...when they become ignored. +1 to to those who see that the information being supplied is insufficient.

(SD PR, halo??)

Ssh it was peaceful
Well actually always room for legit questions

+1

I'm looking to invest but would like to see up to date financials to have a better understand of where SatoshiDICE is at...

Thanks,
Eric


BTW - having read through this thread over the past few hours to get more background on what has been going on, regarding Abu22:


Quite true, my eyes started bleeding a little

+1 if you dont mind telling

Evorhees, can you please publish SDICE balance sheet too? Nothing fancy, just a summary of company's assets, liabilities and shareholders equity. As of May 31 is OK.

Thank you.

So who is the systems operator who appeared in April along with the head I.T person and also in the preceding month? Why has the pay doubled from the original 5k cap?

Why did you hire a PR who is about as active as you...This defeats the purpose of them.

Why do you still avoid giving any mention to the 'announcement'. It's quite over due, is your word really that little?^{Not that it isn't self evident enough.}

Are you going to provide any tx records as payment proof.

My mentions of dilution, inside trading etc. where not accusations of your actions, they are simply matter of fact things that are available to only you as an alternate to a paid wage.

These threads would be shorter, my responses more polite and the general overall benefit of SDice share holders would be better off... If you replied in a reasonable time frame with answers that covered the questions at hand. Not your current method, of a 2 minute write-up giving no detail and expecting that to be an acceptable answer to the various raised important and multifaceted issues.

I've got him on 'ignore' ..and it's amazing how small the thread pages are after that.

He may have a good point or two on occasion, but it's so far buried in a wall of troll text that there's never really a point in reading it.

The IT guy is paid $10k per month. It's typically paid on the first couple days of the month, using the exchange rate at the time of payment.

In general, I pay bills when I get them and use the exchange rate at the time of payment, but I'll pay them whenever I wish. Deal with it.


I've never diluted shares. If you're referring to the 3% sold a few months ago, that was non-dillutive, and those weren't even my shares. I was selling them for another private owner. In fact, my position net increased, because I bought more than 3% from him and only sold 3%.

You're really obnoxious. Please sell your shares and stop making this thread such a miserable place to spend time.

Psst, SD PR... You still there? I know it's probably very easy to get away with doing nothing in your PR role because Erik never checks if anybody is posting here himself...but do you have any further clarifying information? Or are you the once a month active kinda PR..Only active when Erik is online...making your position null and void.





~~le sprite of sashimi wishes you many happys and no sads~~~

'all depends on the days the bills are paid'
This then depends on the proof that the bills were actually payed that day, at that time. Otherwise while in cahoot's with my employees I can say wait till the end of the month I'll then pick the best day to have done this tx (after evaling the months flucs). Then writes that on the page 'yeppp 12/5 that was the day I paid em' alright'. Are you that thickheaded that you can't think past one step of your purported answer. A salary for employees does not need to be payed sporadically each month, Nor does it need to be payed to the Head I.T person and the systems contractor for doing seemingly the same thing...Just another deficit to add to the balance sheet to make it appear like the money is going to somebody rather than skimmed out.

This alleged 'the bills are payed on a random day and that's the price' bullshit doesn't even match up with the previous months calculations that are (for the ~100 btc payment {meant to be capped at $5000 value}) ...Tell me what day on April was the sys operators 91.7 btc payed that matches the price of $54.52/btc. Aww was there a convinient typo made while sending out the payments?

(context: page 73)

Ok, you brick headed shit. Him not taking a salary for SD, therefore has no obligations to run this site with any integrity is retarded logic. His salary is from diluting shares, being an inside trader when he knows things are going to change and from whatever costs he claims to exist.

The market is flooded with assorted btc denominated gambling sites right now. It's not that there needs to be another site that draws players in, SD just needs to stop pushing players away. And in response to your (crudely constructed and context-less) pass through quip, it wasn't to do with not understanding how a pass through works (if you had any reading comprehnsion skils at all) it was to do with the doubling of shares on the bitfunder pass through... Where it turned out to be because deadterra had bought more and was just keeping it at a 1to1 ratio... Not that the contract for that asset forbids any kind of that extra share creation. It could easily still happen, while all we have to rely on is the good nature of deadTerra.

Unless you have something worthwhile to contribute, keep your head low.

Actually over 11% of the "Tradable" shares (1.442/13=11.09%)

Erik told already that it all depends on the day the bills are paid. Second, he has outlined before what stuff they are working on, if you don't have patience, you shouldn't ever invest in anything. I've told you this before, but you just won't listen.


Erik said very recently that he is just a shareholder, he isn't paid a salary and has no obligation whatsoever.

Where are the days that you didn't even understand the concept of a pass through! Why don't you go develop something that will blow us away and make SatoshiDice users run to your service? Instead of wasting your time repeating the same questions over and over again.

I find your character to be pitiable and small. All you do here is attempt to make childishly reasoned critiques while offering nothing to the discussion of any intellectual substance.

If you cannot provide any justifications for why the matters I've brought up are of no interest to those with a vested interest in the operations of SDice, then kindly refrain from your delusional demeanor that is making obvious of your superiority complex.

Do you too not wonder where this money is going and why there are these phantom beneficiaries... Or why there is a 7 day+ delay on Mays big announcement (That likely doesn't even exist yet)

If you're not concerned about these matters, I'd love to know why. And no, 'because if Erik doesn't want say he doesn't have to' is not a sound response. If Erik wishes to conduct his business in that manner, privately, he should do a buy back. Whilst he has it offered as a public asset he certainly does hold a level of accountability to those whom he is in business with.

Just tellin' it like it is.

Why minus? No minus.


Every right to voice it, sure. No right whatsoever to expect your voicing has any value or any importance. No right whatsoever to expect any particular venue is interested in having your voicing.

Here this is fair game do the math
https://docs.google.com/spreadsheet/ccc?key=0Aolrf3NsfbUrdExVWUNMUnZtQ21kQnZzQmFfRmc0WEE#gid=0