317500+ entries in 2.261s
smickles: it's
a complete shit analogy: pokerchips and bitcoin
mjr_: since poker is
a game of skill in
a lot of jurisdictions
Namworld: BTC is virtual token with no fixed value. Some people happen to want to buy it. They don't have
a definite USD value however, they're just valueless tokens unbacked by any entity.
ThickAsThieves: also its
a good example because casinos are exchanging fiat for chips anyway
tiberiusiv: poker night is allowed as long as its not
a regular occurance
Namworld: They're
a proxy for USD for easier use at the table
Namworld: Casino chips have
a fixed USD value and are sold/bought by the casino
tiberiusiv: and have someone operate
a cashier service in another town
mjr_: mpoe might be around 10%
a year...not sure
tiberiusiv: theres no other BTC firms that are paying 10%+
a year...
smickles: I really don't think what SD is doing is illegal, and I'd like to have
a firm grasp of why some people do
mjr_: but yeah, nice comparison to
a NYSE DOW JONES COMPANY
tiberiusiv: thickasthieves:
a simple example,
a US blue chip like johnson and johnson will tend to have
a lower dividend yield then
a lesser quality firm
tiberiusiv: sdice is more profitable then mpex yet is
a less valuable firm for
a reason
mjr_: by your logic...with
a 0% return on investment...it must be the best deal ever
tiberiusiv: you purchase
a stock for its future income.
tiberiusiv: smickles: great. hes
a major player with his name everywhere..
mjr_: and who see your FUD for what it is...know that this is
a bargain
mjr_: i think your FUD and others ignorance will keep it trading low for quite
a whiloe
tiberiusiv: if i was wrong, sdice would be 2-3x higher and still offering
a great return
mjr_: tiberiusiv: i work at
a broker dealer...am i operating
a broker dealer?
mjr_: operating is
a strong word
tiberiusiv: voorhees is
a US resident operating
a US based cashier service that allows US residents to gamble on an illegal site
mjr_: thought they were
a good investment
mjr_: guys, such
a stupid point
tiberiusiv: jurov: the probability of mpex being around in
a few years time is much higher then satoshidice, hence the lower risk profile
tiberiusiv: thicky: people that tend to be married to
a stock usually get wiped out
tiberiusiv: i dont fall in love with
a stock like you do
ThickAsThieves: so tiberius, does this mean you think sdice is
a sound investment?
tiberiusiv: someone paying me 30%
a year in income on my capital
tiberiusiv: 30% return in
a deflationary currency like bitcoin is massive
mjr_: i know
a lot better than you it would seem
tiberiusiv: mjr: the point is its HIGH for
a reason, if it was such
a A+ asset, much more people would be willing to pay
a higher price for it
mjr_: ok it is
a good return, and i've been quite happy
tiberiusiv: so how is
a 30% yield of BITCOINs not high?
tiberiusiv: 30% yield on
a deflationary asset isnt?
mjr_: tiberiusiv: that is not
a great return
mjr_: tiberiusiv: it's easy, at the end of the day, to say why things won't work...it only costs you your time on this forum (probably largely offset by the enjoyment you get from trolling), but it's
a lot harder to do things that do work
tiberiusiv: jurov: my point was, the market is indicating
a unnaturally high risk factor for sdice going forward.
smickles: tiberiusiv: i opend
a french and
a UK bank account just
a month ago
mjr_: smickles: it's gotta be
a troll
tiberiusiv: satoshi can be taken down, and
a new one will take its place i agree
mjr_: and yet the market found
a way to bring what was requested
smickles: how did i pull off opening
a foreign bank account?
mjr_: and that is
a physical substance
tiberiusiv: theres
a reason americans cant open foreign bank accounts
mjr_: they can't stop
a guy smoking
a joint or downloading
a song
tiberiusiv: no im being realistic in
a world dominated by government.
mjr_: can't keep
a good man down i guess
mjr_: i would love the price to fall
a bit more
mjr_: and they will not be
a part of that
mjr_: <tiberiusiv> as long as satoshidice managers are openly operating an illegal casino while having
a cashin service in the United states, and
a presence in the united states satoshidice is not cheap
tiberiusiv: especially since they openly bragged about the profits
a few months ago too
tiberiusiv: as long as satoshidice managers are openly operating an illegal casino while having
a cashin service in the United states, and
a presence in the united states satoshidice is not cheap
smickles: i think they launched in ireland because, if in the future what they are doing is legally considered gambling, they can get
a license
tiberiusiv: mjr: probably if satoshidice obtains
a real gaming license the price will double or tripple
tiberiusiv: you only truely "invest" by buying on primary market ie an ipo to raise capital for
a firm
mjr_: they can't run healthcare...but they could prob insert
a chip into every american
smickles: tiberiusiv: you mean gambling, right? from what i've read, the lawyers over there see playing satoshi dice with bitcoin as
a game, not gambling
smickles:
a game of monopoly must fucking suck to get started
smickles: tiberiusiv: ireland requires
a license to play games?
mjr_: and its just
a server
mjr_: iirc you can't freeze
a bitcoin account
tiberiusiv: being
a prisoner in
a embassy is being free?
smickles: < tiberiusiv> yes because its an illegal gambling site. <<< iirc, it's
a legal irish gaming company
tiberiusiv: operating an illegal casino is still
a massive fine/punishment even in ireland.
benkay: and lock you in
a room
tiberiusiv: it doesnt matter his name is everywhere and he is
a US citizen
tiberiusiv: voorhees should have never been
a memeber of the cash in service as well
mjr_: i have
a lot of faith in the long term prospects of that company
tiberiusiv: the gambling friendly regions require
a license.
tiberiusiv: because even
a 10% annual dividend in BTC is alot
tiberiusiv: mjr: i dont have to keep going, the market is indicating
a 30% dividend for
a reason, if it was safe the price of satoshi would be 2-3x what it is now.
tiberiusiv: 2) hes also
a memeber of the "cash in" service bitinstant
mjr_: and that is
a very small window
tiberiusiv: the reason its not is because satoshi dice has
a huge event risk
tiberiusiv: hence why it has
a 30% dividend yield.
tiberiusiv: satoshi dice has
a 30% dividend yield for
a reason
ThickAsThieves: "In the case where VirtEx is bought out by another company or VirtEx pays
a dividend to its shareholders, Bitcoin shareholders will get paid in Bitcoin at the Canadian dollar equivalent rate using the best market prices at the time"
tiberiusiv: how do they have 0 profit when hes collecting 2-3% off of $150k
a day?
tiberiusiv: unlike most other btc firms hes
a fully incorporated company
tiberiusiv: well his IPO had
a fair valuation imo $3mil market cap for entire company
smickles: mjr_: also, i caught that. and it reminded me of the video of the guy who recorded the crash from 30 to 0 which was eventually rolled back due to it being caused by
a hack
ThickAsThieves: i can sell you
a code for Bioshock Infinity & Crysis 3
mjr_: easy way to make
a shit ton of money if you caught that bottom...
mjr_: ThickAsThieves: those estimates won't mean anything till we get
a bigger sample size