Will Satoshi Dice be a better investment than Bitcoin coming half year?

chriswilmer

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Quote from: Rampion on June 14, 2013, 03:56:33 AM

Well, everybody is saying "no", shares are plummeting, but still SD counts for 50% of all the transactions in the network.

Great opportunity, I'm buying - does somebody know if I can buy avoiding MPOE?

Havelock investments sells SD shares... probably some kind of pass through thing... I am just learning about all of this recently.

Rampion

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Well, everybody is saying "no", shares are plummeting, but still SD counts for 50% of all the transactions in the network.

Great opportunity, I'm buying - does somebody know if I can buy avoiding MPOE?

True___Blue

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Quote from: Crypt_Current on June 11, 2013, 06:30:50 PM

All that aside, unless you're prepared to legally defend your ownership in some court, the mathematically provable ownership of bitcoins trumps any shares of anything.

This makes a lot of sense. I too have been skeptical of any "shares" of bitcoin companies.

RationalSpeculator

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bump for more poll votes

Crypt_Current

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Quote from: BIGMERVE on June 11, 2013, 06:27:51 PM

Quote from: justusranvier on June 11, 2013, 05:56:41 PM

Quote from: BIGMERVE on June 11, 2013, 05:35:58 PM

Satoshi dice is a gambling website. It is subject to much more risk than bitcoins. The website can be taken down or hacked.

This is not true.

Satoshi dice is a service that operates entirely on the blockchain - the web site only serves the purpose of providing customers the list of 27 bitcoin addresses which make up the game, and taking down that web site would do nothing at all as far as stopping the service.

That list of 27 bitcoin addresses never changes so as long as the people who want to play have a means of getting that list the service can continue to operate. The server which actually processes the bets could be located anywhere in the world, only connect to the Bitcoin network via Tor, and be otherwise impossible to track down and take offline.

I understand your point, but as far as I know the satoshidice server is not connected via tor. Also the current owner is a somewhat public figure who can be traced. Yes it's possible to make satoshidice untouchable, but currently it isn't.

All that aside, unless you're prepared to legally defend your ownership in some court, the mathematically provable ownership of bitcoins trumps any shares of anything.

BIGMERVE

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Quote from: justusranvier on June 11, 2013, 05:56:41 PM

Quote from: BIGMERVE on June 11, 2013, 05:35:58 PM

Satoshi dice is a gambling website. It is subject to much more risk than bitcoins. The website can be taken down or hacked.

This is not true.

Satoshi dice is a service that operates entirely on the blockchain - the web site only serves the purpose of providing customers the list of 27 bitcoin addresses which make up the game, and taking down that web site would do nothing at all as far as stopping the service.

That list of 27 bitcoin addresses never changes so as long as the people who want to play have a means of getting that list the service can continue to operate. The server which actually processes the bets could be located anywhere in the world, only connect to the Bitcoin network via Tor, and be otherwise impossible to track down and take offline.

I understand your point, but as far as I know the satoshidice server is not connected via tor. Also the current owner is a somewhat public figure who can be traced. Yes it's possible to make satoshidice untouchable, but currently it isn't.

RationalSpeculator

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Quote from: Crypt_Current on June 11, 2013, 05:38:21 PM

Until one can prove ownership of shares and transact them without counter-party risk, I say "no" to OP question.

That would be great indeed!

justusranvier

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Quote from: BIGMERVE on June 11, 2013, 05:35:58 PM

Satoshi dice is a gambling website. It is subject to much more risk than bitcoins. The website can be taken down or hacked.

This is not true.

Satoshi dice is a service that operates entirely on the blockchain - the web site only serves the purpose of providing customers the list of 27 bitcoin addresses which make up the game, and taking down that web site would do nothing at all as far as stopping the service.

That list of 27 bitcoin addresses never changes so as long as the people who want to play have a means of getting that list the service can continue to operate. The server which actually processes the bets could be located anywhere in the world, only connect to the Bitcoin network via Tor, and be otherwise impossible to track down and take offline.

kokojie

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sdice is a good investment only if you expect BTC value to stay the same or drop.

RationalSpeculator

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This bull will try to shake you off. Hold tight!

Quote from: BIGMERVE on June 11, 2013, 05:35:58 PM

No. Satoshi dice is a gambling website. It is subject to much more risk than bitcoins. The website can be taken down or hacked. Bitcoins cannot (for the most part).

I agree that the risks are much higher for Satoshi Dice than for Bitcoin, but if a much higher reward is also given than it's worth it.

I would also agree that on average Satoshi Dice cannot offer a higher reward than bitcoin, so on average I don't think it's a good speculation/investment compared to bitcoin.

Today however bitcoin just did an amazing run since January whereas Sdice did not. Sdice was a horrible investment compared to bitcoin and lost 3 quarters of it's value. I think chances are high for this to reverse. Bitcoin doing poorly this time while sdice going strong. I might be proven wrong. We will know at the end of the year.

Crypt_Current

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Shame on everything; regret nothing.

Until one can prove ownership of shares and transact them without counter-party risk, I say "no" to OP question.

BIGMERVE

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No. Satoshi dice is a gambling website. It is subject to much more risk than bitcoins. The website can be taken down or hacked. Bitcoins cannot (for the most part).

RationalSpeculator

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This bull will try to shake you off. Hold tight!

I think sdice will prove to be a better investment than bitcoins the coming half year, but I'm wondering how many people agree, disagree, are not sure, or don't care.

Current price of bitcoin: $108
Current price of Satoshi Dice: 0.0022 BTC per share ( x 100 million shares = 220,000 btc market cap)

Topic: Will Satoshi Dice be a better investment than Bitcoin coming half year? (Read 1235 times)