Topic: [CLOSED] S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx - page 8. (Read 316363 times)

So I can't help but notice that there is no "news" or announcement at BitFunder about this.  Does anyone with knowledge of pass-throughs know what we as shareholders through such services have to do in this case?  Do we have to sell our shares (for less than the buyout value based on their spread), or can we just sit tight, and wait until our assets magically just disappear and our account balance goes up?

It also could have been the new owner.

Of course it was him.  Remember when he was going to steal all the dividends last month too?  Dude knows how to extract bitcoins from the community. He has probably acquired the majority of the float on MPEX over the last month.

Dividends

Seriously??? I am really shocked to see most of you are so happy with this ending.

Apparently, Erik really know finance and really good at misleading people by his knowledge. What happened here is someone took over Erik's shares at a discount price - 0.00126315. Then Erik told us that your share is worth 0.00126315 but I will add another 0.00223685 because I am responsible. Come on! Look at MPEX, the past 30 days average is around 0.0025. I believe this is how they value shares at real life stock market.

This is not the only one. When Erik tried to offer the shares at first, the shares are valued at 8 P/E ratio. Afterward when people start to losing money and blame Erik, he was like - don't too focus on price movement, please look at
annualized return, the P/E ratio is 8! Now when he try to buy back those shares, he seems forget to mention P/E at all - its time to look back to price! Wow! What a generous guy! If we give the 8 on current earning, the price will be at least 0.0045.

Is this fair???

If we ignore all the noises - the buyout thing, the 0.00126315 and the new owner - no one know if they are really exist. What we are 100% sure is Erik issued shares at around 0.0035. Now he buy back at same price. What he got? A business with public recognition through IPO. What shareholders got? Nothing.

Is this fair???

I'm sure that both a) he has a significant interest in the new company, and b) he didn't get out at a crazy low price, because of a).

I suspect he has effectively sold 30-50% interest somewhere between -30% and +10% of the prevailing market price (0.0021 BTC say).

Oh no. What will MPEx do now? They don't have anything real on their exchange now.

Yeah, and the new company buyer just got his BTC from ... thin air right?

Hmm.  The "new company" thing is kind of vague; including whether Mr Voorhees has any stake in it.  Given the numbers below I think it's almost certain he is getting such a stake.  But ignoring that for now and assuming he doesn't....

Let's guess that Erik holds 80% of shares, IPO was 10%, others unknown own the remaining 10% of which some was subsequently sold publicly.

The way I read this is that Erik has willingly cashed out 80% for 0.00126 per share, when it was trading above 0.0020 per share in the open market.  Let's assume he's compensated the whole 20%, not just the publicly traded part, as disclosed above.

He receives 80m * 0.00126 = 101,052 BTC.  However he's paying out a premium (ignoring minor refunds he mentions in his post) 20m * .00223685 or 44,737 BTC.

So he's pocketing only 56,315 BTC net for 80m shares, or 0.00070394 BTC per share.

This is clearly ridiculous, even given tough competition like Just Dice, given that he could undoubtedly successfully offer another 20m shares at say 0.002 BTC each given the market price (40k BTC total) and still be left with 60m.

So this looks to me like 2 things: a) an opportunity to reduce his stake, given the lack of focus and increasingly tough competition, and b) at the same time retain significant, but substantially reduced, interest via a stake in the "new company".

Shareholders should consider themselves lucky, I really doubt it would have ever reached something like 0.0035 BTC again on the open market.

niet

LMAO gg

Oddly, no

Just curious, did you receive payment in bitcoins or in some other currency (e.g. USD)?

Congrats on finding your long lost invisible twin brother Eri, and I do hope he will keep running sdice as efficiently as ever.

Well done Erik! I hope you will have the same success with coinapult.

Regards,
Michael

As someone who "lost" more than most on this deal, I'm still happy for Erik and will be happy to see him focus on other efforts like coinapult (international numbers soon, kthx!)

Congrats Erik, if there was ever a time to scream this and mean it, its now: http://www.youtube.com/watch?v=Rs6kT_0H1MI

Congrats Erik. You did a good job despite of the trolls.

this

I hope you will continue as a patron advocating Bitcoin. 

As IPO investor I'm glad for this happy ending, though I planned to hold the shares for much longer. It was a nice ride. Thanks Eric and good luck in your future endeavors.

Congratulations Erik. One of the people I think really deserves this.