Topic: [CLOSED] S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx - page 71. (Read 316448 times)
February 05, 2013, 01:28:30 AM
Well it's about as serious a breach of contract as you can get - underselling the market when the contract specifically prevents you from doing so to any significant extent. It'll be interesting to see how MPEx handle this - on the one hand they obviously don't want to lose an otherwise excellent investment such as S.DICE. But on the other side of the coin they can't really allow issuers to blatantly break their contract if they intend to continue to be taken seriously.
February 05, 2013, 01:25:30 AM
What puzzles me is this:
From the S.DICE prospectus (referring to issuance of further shares):
"and b) at a price no less than the higher of the 1 day average price and the 30 day average price then current on MPEx "
Was the 1 day average price on MPEX REALLY .0044 or less?
NO.
The prospectus contained a clause specifically to avoid this. I presume MPEx will now delist S.DICE for breaking its contract. GG all.
From the S.DICE prospectus (referring to issuance of further shares):
"and b) at a price no less than the higher of the 1 day average price and the 30 day average price then current on MPEx "
Was the 1 day average price on MPEX REALLY .0044 or less?
NO.
The prospectus contained a clause specifically to avoid this. I presume MPEx will now delist S.DICE for breaking its contract. GG all.
Shit. now I'm confused
February 05, 2013, 01:22:33 AM
What puzzles me is this:
From the S.DICE prospectus (referring to issuance of further shares):
"and b) at a price no less than the higher of the 1 day average price and the 30 day average price then current on MPEx "
Was the 1 day average price on MPEX REALLY .0044 or less?
NO.
The prospectus contained a clause specifically to avoid this. I presume MPEx will now delist S.DICE for breaking its contract. GG all.
From the S.DICE prospectus (referring to issuance of further shares):
"and b) at a price no less than the higher of the 1 day average price and the 30 day average price then current on MPEx "
Was the 1 day average price on MPEX REALLY .0044 or less?
NO.
The prospectus contained a clause specifically to avoid this. I presume MPEx will now delist S.DICE for breaking its contract. GG all.
*rolls a 1 on SD*
EDIT: but seriously this is a pretty obvious breach of contract in that case
EDIT2: Actually it isn't, since no new shares were issued. Really all that happens is evoorhees is selling his own shares on the market which he is perfectly entitled to do. This part of the contract refers to *new* shares only.
February 05, 2013, 01:18:56 AM
What puzzles me is this:
From the S.DICE prospectus (referring to issuance of further shares):
"and b) at a price no less than the higher of the 1 day average price and the 30 day average price then current on MPEx "
Was the 1 day average price on MPEX REALLY .0044 or less?
NO.
The prospectus contained a clause specifically to avoid this. I presume MPEx will now delist S.DICE for breaking its contract. GG all.
From the S.DICE prospectus (referring to issuance of further shares):
"and b) at a price no less than the higher of the 1 day average price and the 30 day average price then current on MPEx "
Was the 1 day average price on MPEX REALLY .0044 or less?
NO.
The prospectus contained a clause specifically to avoid this. I presume MPEx will now delist S.DICE for breaking its contract. GG all.
February 05, 2013, 01:06:04 AM
Considering that he's pulled in in like $350k a month, and owns 90% of the business, it's no skin off his back to sell a small % to shareholders.
I do hope he has expansion plans in mind though, marketing can go a long way for this business...
Water this plant and watch it grow.
I do hope he has expansion plans in mind though, marketing can go a long way for this business...
Water this plant and watch it grow.
the question is WHY
what is the point of dumping shares 37% below market price, screwing over your shareholders, just to get 4400btc (chump change) when operating income is 5000btc per week
drop the share price by 38% in exchange for 7 days operating profit? WTF?
He wants to give people a good deal - a second chance to invest in S.Dice for cheap. Since he's getting so much flak for this, I expect him to sell the other blocks at a high price.
February 05, 2013, 12:56:35 AM
Considering that he's pulled in in like $350k a month, and owns 90% of the business, it's no skin off his back to sell a small % to shareholders.
I do hope he has expansion plans in mind though, marketing can go a long way for this business...
Water this plant and watch it grow.
I do hope he has expansion plans in mind though, marketing can go a long way for this business...
Water this plant and watch it grow.
the question is WHY
what is the point of dumping shares 37% below market price, screwing over your shareholders, just to get 4400btc (chump change) when operating income is 5000btc per week
drop the share price by 38% in exchange for 7 days operating profit? WTF?
February 05, 2013, 12:44:24 AM
Considering that he's pulled in in like $350k a month, and owns 90% of the business, it's no skin off his back to sell a small % to shareholders.
I do hope he has expansion plans in mind though, marketing can go a long way for this business...
Water this plant and watch it grow.
I do hope he has expansion plans in mind though, marketing can go a long way for this business...
Water this plant and watch it grow.
February 05, 2013, 12:38:10 AM
Any of the fundamentals change... or is someone just willing to give us a deal in order to move some volume?
Far as I can tell, CHEAP SHARES
!
Far as I can tell, CHEAP SHARES
!I don't see why it would be in SD's interest to auction off shares this much below the market price. Is there any immediate need for a cash infusion? Is some kind of expansion being funded?
February 05, 2013, 12:30:36 AM
As a long term investor, it doesn't bother me ... as long as I can get some of that .0044 action before it goes 
^ This is how you make a fortune folks. Now if lightbox wakes up so I can get a private block.. :3
February 05, 2013, 12:27:08 AM
As a long term investor, it doesn't bother me ... as long as I can get some of that .0044 action before it goes
February 05, 2013, 12:25:55 AM
Hey all,
S.DICE will be releasing another 5% stake starting now in five tranches of 1,000,000 shares each. Each tranche will be priced higher than the last. All tranches will be higher than the IPO price but lower than the current market price of around .0071 btc per share. Same rules apply to these shares (100% of net earnings from SD).
First tranche is 0.0044 btc per. Listing is live.
First come first serve
S.DICE will be releasing another 5% stake starting now in five tranches of 1,000,000 shares each. Each tranche will be priced higher than the last. All tranches will be higher than the IPO price but lower than the current market price of around .0071 btc per share. Same rules apply to these shares (100% of net earnings from SD).
First tranche is 0.0044 btc per. Listing is live.
First come first serve
Why are you listing so far below the current market price?
Two reasons:
1) Because 5m shares is a significant amount and I caught alot of flak during the IPO for pricing too high and having shares sit on the market too long.
2) Because I thought buyers might appreciate the opportunity to get shares cheaper, thus higher dividend yields for them. I'm selling for profit, don't get me wrong, but I like the buyers to feel they're getting a good deal also.
Perhaps, that's great for you. But you are screwing your shareholders. I just lost 40% of my investment in your crappy stock. It will probably take 2 years to break even from dividends.
And thus your .007 share price was legitimate? If so, then you won't be buying at .0044 and profiting 30% when it reverts back to proper market price in three days? You are not thinking properly about this.
February 05, 2013, 12:09:32 AM
Hey all,
S.DICE will be releasing another 5% stake starting now in five tranches of 1,000,000 shares each. Each tranche will be priced higher than the last. All tranches will be higher than the IPO price but lower than the current market price of around .0071 btc per share. Same rules apply to these shares (100% of net earnings from SD).
First tranche is 0.0044 btc per. Listing is live.
First come first serve
S.DICE will be releasing another 5% stake starting now in five tranches of 1,000,000 shares each. Each tranche will be priced higher than the last. All tranches will be higher than the IPO price but lower than the current market price of around .0071 btc per share. Same rules apply to these shares (100% of net earnings from SD).
First tranche is 0.0044 btc per. Listing is live.
First come first serve
Why are you listing so far below the current market price?
Two reasons:
1) Because 5m shares is a significant amount and I caught alot of flak during the IPO for pricing too high and having shares sit on the market too long.
2) Because I thought buyers might appreciate the opportunity to get shares cheaper, thus higher dividend yields for them. I'm selling for profit, don't get me wrong, but I like the buyers to feel they're getting a good deal also.
February 05, 2013, 12:04:12 AM
Pricing is definitely a blow but the current shares are not being diluted nor dividends.
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
February 04, 2013, 11:58:07 PM
Hey all,
S.DICE will be releasing another 5% stake starting now in five tranches of 1,000,000 shares each. Each tranche will be priced higher than the last. All tranches will be higher than the IPO price but lower than the current market price of around .0071 btc per share. Same rules apply to these shares (100% of net earnings from SD).
First tranche is 0.0044 btc per. Listing is live.
First come first serve
S.DICE will be releasing another 5% stake starting now in five tranches of 1,000,000 shares each. Each tranche will be priced higher than the last. All tranches will be higher than the IPO price but lower than the current market price of around .0071 btc per share. Same rules apply to these shares (100% of net earnings from SD).
First tranche is 0.0044 btc per. Listing is live.
First come first serve
Why are you listing so far below the current market price?
February 04, 2013, 11:32:06 PM
Hey all,
S.DICE will be releasing another 5% stake starting now in five tranches of 1,000,000 shares each. Each tranche will be priced higher than the last. All tranches will be higher than the IPO price but lower than the current market price of around .0071 btc per share. Same rules apply to these shares (100% of net earnings from SD).
First tranche is 0.0044 btc per. Listing is live.
First come first serve
S.DICE will be releasing another 5% stake starting now in five tranches of 1,000,000 shares each. Each tranche will be priced higher than the last. All tranches will be higher than the IPO price but lower than the current market price of around .0071 btc per share. Same rules apply to these shares (100% of net earnings from SD).
First tranche is 0.0044 btc per. Listing is live.
First come first serve
:/ I just bought in hard today... and DeadTerra is asleep for me to re-up
February 04, 2013, 11:11:24 PM
Hey all,
S.DICE will be releasing another 5% stake starting now in five tranches of 1,000,000 shares each. Each tranche will be priced higher than the last. All tranches will be higher than the IPO price but lower than the current market price of around .0071 btc per share. Same rules apply to these shares (100% of net earnings from SD).
First tranche is 0.0044 btc per. Listing is live.
First come first serve
S.DICE will be releasing another 5% stake starting now in five tranches of 1,000,000 shares each. Each tranche will be priced higher than the last. All tranches will be higher than the IPO price but lower than the current market price of around .0071 btc per share. Same rules apply to these shares (100% of net earnings from SD).
First tranche is 0.0044 btc per. Listing is live.
First come first serve
February 04, 2013, 09:08:34 AM
Here's an alternative scenario, hopefully we're not going too off topic...
Okay, it's November 2013, and ASICs have taken over the BTC mining scene. GPU miners have largely migrated to Litecoin, where a healthy but smaller community is thriving. BTC market cap has reached $1billion+.
But Litecoin value has also gone up, to say $10 each. Now, if you think of BTC and LTC as $100 bills and $10 bills, you've just dramatically increased the amount of currency available. If things evolved this way, you could have even more altcoins over the years. This would allow endless expansion crypto-currency value.
Slightly off-topic, I could also see each country adopting it's own cryptocurrency as a method of battling bitcoin and keeping control of things in their respective countries.
Okay, it's November 2013, and ASICs have taken over the BTC mining scene. GPU miners have largely migrated to Litecoin, where a healthy but smaller community is thriving. BTC market cap has reached $1billion+.
But Litecoin value has also gone up, to say $10 each. Now, if you think of BTC and LTC as $100 bills and $10 bills, you've just dramatically increased the amount of currency available. If things evolved this way, you could have even more altcoins over the years. This would allow endless expansion crypto-currency value.
Slightly off-topic, I could also see each country adopting it's own cryptocurrency as a method of battling bitcoin and keeping control of things in their respective countries.
February 04, 2013, 07:57:54 AM
The market cap of S.DICE (or even the aggregate market cap of all bitcoin denominated shares) can be greater than 21 million but it is not unlimited. There is some limit based on the 21 million bitcoin limit and the velocity of money (how many times the total bitcoin supply is recycled through the economy).
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
February 03, 2013, 09:56:09 PM
I have to to think about it some more. I admit I'm not an expert and could be wrong in my thinking.
I'm confident though that in practice S.Dice couldn't earn enough profits to justify a market cap more than the total number of bitcoins there will ever be.
Some relevant points in this article
http://mises.org/daily/4654
Let us consider the unlikely but possible scenario where the only thing bitcoins are useful for is to play satoshidice. Let us further suppose that the bitcoin market price drops by a couple orders of magnitude, but people want to play satoshidice even more than they do today. Could you see how these factors might push the total profit of satoshidice closer to or above the amount of bitcoins?
February 03, 2013, 09:46:28 PM
That mises article is about the US fiat monetary system. A system by which individuals determine the size of the monetary base. In this system it is true that the size of the monetary base is a very important and often overlooked factor, but we're in Bitcoinland now.
In Bitcoinland we know exactly what the monetary base is at all times. This "measuring stick" of the money supply must be constant in order to have sound economic activity. Bitcoin provides this, fiat money does not. You are comparing two different monetary systems to each other and are thus drawing false conclusions.
The market cap of SDICE can be any number of bitcoin, 1 million, 1 billion, 1 trillion, at some point it gets absurd but you get my point.
In Bitcoinland we know exactly what the monetary base is at all times. This "measuring stick" of the money supply must be constant in order to have sound economic activity. Bitcoin provides this, fiat money does not. You are comparing two different monetary systems to each other and are thus drawing false conclusions.
The market cap of SDICE can be any number of bitcoin, 1 million, 1 billion, 1 trillion, at some point it gets absurd but you get my point.
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