Topic: [CLOSED] S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx - page 89. (Read 316363 times)

Haha that's great! Yeah it was a fun panel, one of the best turnouts of any event at PorcFest. It's very fulfilling to see someone in the audience who has a question and then, after hearing the answer, just has their eyes light up with possibilities. Once someone grasps the power of Bitcoin, there's almost a physiological reaction

Yay, I am a bad ass
I am maintaining the pass through, it's basicly just a matter of buying backing when necessary and paying out dividends when Erik does
I hope you enjoy my service and I will do my best to provide a high quality pass through.
//DeaDTerra

Thanks buddy

PS: Watching the Porcfest bitcoin talk! exciting to put usernames to faces!

Yeah it's being maintained by DeaDTerra, who is basically an all-around badass and I'm very happy he's set it up.
https://bitcointalksearch.org/topic/gsdpt-satoshidice-on-the-glbse-103654

No need to get your panties in a bunch. I guess it was not clear to me that the seller is you in person and not the SatoshiDICE.
Fair enough.

Any idea who is maintaining the pass through for this? Is it yourself Erik?

Nope. That would be dishonest of me, and it's written in the contract that such cannot happen.

There are 100,000,000 ownership shares. 10,000,000 of these are up for sale via MPEx (and via a proxy on GLBSE). As per the contract, shares cannot be diluted, so these are all the shares that exist and can ever exist unless I bought up the shares again (which is very possible).

Of course. Each share created represents one one hundred millionth of dividends. It doesn't matter how many are sold. The owner of each share gets that amount.

Sorry I have no idea what you're talking about 

If I were to buy shares, could my shares be diluted at a later time?

So this is more a large shareholder selling off a portion of his holding, rather than the comapny issuing new stock. I thought that was settled several pages ago?

The shares originate in my account - I'm the owner. Why are you suggesting it's fraud if they remain under my ownership when they're under my ownership currently? 

You don't seem to understand the concept of marginal utility. I'm happy to sell 10% for the IPO price, but I would not sell the next marginal 10% for the same amount (I would be unwilling to sell it unless the price was higher).

So the first 10% of shares are worth less than .0032BTC to me (their marginal utility is lower), but the next 10% are worth more than .0032 to me and thus are not being offered at that price. In the same way, an investor with 1000 btc might value his first 100btc less than X amount of SD stock, but wouldn't value his next 100btc at that same price, and thus he'd be willing to trade 100btc for the X amount of stock, but no more than that. 

Nonsense. The shares which are not yet sold are still owned by me. They are in my personal MPEx account, just as if I had bought them. Dividends thus go to me.

No. You misunderstood me or I was not clear enough.  

Lest say you have a Co and you own 100% shares. Lets call those shares "S". If "S" has right for divs, you get 100% of the divs. There are 100 shares of "S" outstanding and those shares are all yours.
Now, you decide to take your Co public. Co (not you!) usually issues additional shares of "S" and sells those to the public.
Why? To rise capital for expansion and give your existing shares additional value and liquidity, Or get you out of the business so you can go and drink yourself to death in Tijuana... what ever rocks your boat. (there are lost of reasons why to go public/sell your Co).

What ever rights the S had, additional S will have that too. Lets say Co issued 100 new shares of S @ 10. Your outstanding shares of S is now 200 and you hold 50% of S.

Your Co can have lots of different types of stock issued, privately or publicly and with different bells and whistles attached. This is all equity and when issued by Co (not you), money (or equivalent) must change hands. You can not just invent equity out of this air.

Now, lest say your Co also issues shares called "S.nv" (non voting) @ 10 and those shares will represent 10% of your total equity (200 shares of S).
S.nv also has rights for dividends. Now you have total outstanding S - 200 shares and 20 shares of S.nv.
When the div day arrives, S gets 80 and S.nv get 20% of dividends.  

If you want those shares as a owner of S, you need to buy them or have the Co buy those for you (bad for all the other stock holders).
You can not just take those "S.nv" shares for yourself because you are the majority owner of S.

Some people might expect the revenue to increase at least in the short term. Some people might view this as less risky than other investments in bitcoin.

Bob - The whole thing seems more of a gentleman's agreement than something solid from the investor's POV.  From the seller's POV it's a sweet deal for sure.

Which IMO means another 50% discount should be demanded.

Quite why anyone would be happy with the terms, given what their legal and contractual exposure, and expected returns might be, (and post a 20 BTC arrogance tax!), is surprising indeed.  I may be missing something though....

The proof is in the pudding and I look forward to its baking.  A bit of sugar might be nice 

I see 66000 now     Wanna buy 100?  It might go up, you know?  Just gotta find another 65,900 buyers before it has a chance.   

You are correct. 10% vote can never win 90% and this was pointless clause.  
I guess those shares offered are not the same shares what Evoorhees owns at the moment.  In this case, are those a new issue of stock and issued by SD for the IPO.
Can someone clear this up a bit?