throwaway123



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NewbieActivity: 13Merit: 0 Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx March 29, 2013, 01:52:30 PM #1241 Quote from: rini17 on March 29, 2013, 01:12:36 PM

broker allows everyone to participate on MPEx directly and online without paying 30BTC for a seat. There are also other offline brokers.



From passthroughs only Havelock has the possibility of automatic transfer of S.DICE from/to MPEx, all others involve request to human PT operator.



Yes, CoinBr uses extra machine to store/access GPG key, with passphrase that must be entered manually on startup and stored in memory only.

CoinBr broker allows everyone to participate on MPEx directly and online without paying 30BTC for a seat. There are also other offline brokers.From passthroughs only Havelock has the possibility of automatic transfer of S.DICE from/to MPEx, all others involve request to human PT operator.Yes, CoinBr uses extra machine to store/access GPG key, with passphrase that must be entered manually on startup and stored in memory only.

I guess we're getting offtopic here, but this sounds quite cool and it's good to know.

So, you're saying that if I put a sell order on CoinBr, it will show up on MPOE, and you don't have your own internal exchange? That's nice. I guess we're getting offtopic here, but this sounds quite cool and it's good to know.So, you're saying that if I put a sell order on CoinBr, it will show up on MPOE, and you don't have your own internal exchange? That's nice.

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LegendaryActivity: 1008Merit: 1005Democracy is the original 51% attack Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx March 29, 2013, 04:50:47 PM #1244 Quote from: throwaway123 on March 29, 2013, 10:47:58 AM

...





throwaway and thoughtfan, excellent comments from both of you. I wish all the discussion on BitcoinTalk was of this level



I'll comment on a few points.



1) I do know who one of the whales is, as he recently made himself known to me. I have no idea whether he will return in the future, but there is no reason for him not to. While there have been many wild theories on who or what he is, I'll say that in this case at least reality is far less interesting than the imagination And for the 50,000th time, no the whales aren't me nor anybody who works with me, nor any person doing such deception on behalf of the site in order to puff up numbers in any way whatsoever. Additionally, SD has never and will never run bots on itself, other than for small narrow testing purposes. There was some speculation that the last jackpot winner (~1900ish btc) was an SD bot. Not true at all, and in fact the winner of that contacted me since his payment had gotten delayed. It was fun chatting with him and learning what he plans to do with the money, nothing crazy, just somewhat inspiring and very nice to hear.



2) The wild exchange rate of Bitcoin is absolutely going to effect SD share price in one way or another. While it seems that SD maintains a reasonable floor of usage in nominal BTC terms, I think if the price of BTC doubles the amount wagered at SD will be lower in BTC terms (though not half). We can call this the "elasticity of wagering" perhaps In any case, I think people should expect that to some degree, if Bitcoin price skyrockets, the nominal price of shares (whether SD or otherwise) should fall somewhat. Does this mean it's better to invest in BTC than in shares of BTC companies? Not necessarily. It depends on your risk preferences.



3) Contrary to how it may appear, I'm spending a lot of time on SD. Much of this is in the legal world, and in putting a small team together to build it more professionally. These things aren't apparent on the surface, but they're happening. When some of this foundational stuff is in place, the visible aspects of SD will be built up further. While I have increased advertising for SD in the last couple weeks, I am also wary of making the site too high profile too soon. Read into that what you will, but it's done with purpose.



4) This wasn't mentioned in the recent comments here, but has obviously been a hugely hot topic - the matter of SD and "blockchain spam." While in general I believe that altering SD merely to coddle and soothe the blockchain is bad policy (because it enables the community to retain a false sense that the issue of dust/spam is not urgent), I am working on a couple things which will indeed alleviate some of the strain on the blockchain. These things are being done mostly for user experience, so the fact that they take burden off the blockchain is but a bonus. Regardless, hopefully some of the wild critics of SD will be happy with the move, though I assume most will continue launching attacks at me personally, saying I've been consumed by greed and don't care about the community, blah blah blah. I guess if you're not making enemies, you're doing it wrong. My intention though is not to be combative, and while I disagree with the thesis of my opponents, I nevertheless respect (most of) them as members of the community and don't want to cause unneeded angst. I guess this was a long way of saying, SD will be developing in a way that should make some critics somewhat happy. Ultimately, it is a profit-making enterprise and will act in every ethical way toward that end, and Bitcoin better be able to handle such enterprises.



Cheers,

-Erik







throwaway and thoughtfan, excellent comments from both of you. I wish all the discussion on BitcoinTalk was of this levelI'll comment on a few points.1) Iknow who one of the whales is, as he recently made himself known to me. I have no idea whether he will return in the future, but there is no reason for him not to. While there have been many wild theories on who or what he is, I'll say that in this case at least reality is far less interesting than the imaginationAnd for the 50,000th time, no the whales aren't me nor anybody who works with me, nor any person doing such deception on behalf of the site in order to puff up numbers in any way whatsoever. Additionally, SD has never and will never run bots on itself, other than for small narrow testing purposes. There was some speculation that the last jackpot winner (~1900ish btc) was an SD bot. Not true at all, and in fact the winner of that contacted me since his payment had gotten delayed. It was fun chatting with him and learning what he plans to do with the money, nothing crazy, just somewhat inspiring and very nice to hear.2) The wild exchange rate of Bitcoin is absolutely going to effect SD share price in one way or another. While it seems that SD maintains a reasonable floor of usage in nominal BTC terms, I think if the price of BTC doubles the amount wagered at SD will be lower in BTC terms (though not half). We can call this the "elasticity of wagering" perhapsIn any case, I think people should expect that to some degree, if Bitcoin price skyrockets, the nominal price of shares (whether SD or otherwise) should fall somewhat. Does this mean it's better to invest in BTC than in shares of BTC companies? Not necessarily. It depends on your risk preferences.3) Contrary to how it may appear, I'm spending a lot of time on SD. Much of this is in the legal world, and in putting a small team together to build it more professionally. These things aren't apparent on the surface, but they're happening. When some of this foundational stuff is in place, the visible aspects of SD will be built up further. While I have increased advertising for SD in the last couple weeks, I am also wary of making the site too high profile too soon. Read into that what you will, but it's done with purpose.4) This wasn't mentioned in the recent comments here, but has obviously been a hugely hot topic - the matter of SD and "blockchain spam." While in general I believe that altering SD merely to coddle and soothe the blockchain is bad policy (because it enables the community to retain a false sense that the issue of dust/spam is not urgent), I am working on a couple things which will indeed alleviate some of the strain on the blockchain. These things are being done mostly for user experience, so the fact that they take burden off the blockchain is but a bonus. Regardless, hopefully some of the wild critics of SD will be happy with the move, though I assume most will continue launching attacks at me personally, saying I've been consumed by greed and don't care about the community, blah blah blah. I guess if you're not making enemies, you're doing it wrong. My intention though is not to be combative, and while I disagree with the thesis of my opponents, I nevertheless respect (most of) them as members of the community and don't want to cause unneeded angst. I guess this was a long way of saying, SD will be developing in a way that should make some critics somewhat happy. Ultimately, it is a profit-making enterprise and will act in every ethical way toward that end, and Bitcoin better be able to handle such enterprises.Cheers,-Erik

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LegendaryActivity: 1526Merit: 1008 Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx March 29, 2013, 07:37:36 PM #1248 Erik, thanks for the update.



There are some simple things you could do to reduce load on the chain. One is to (re)generate your keys to use point compression. Bitcoinj has supported this for some time and the patch can be backported by fireduck if need be. Even if you don't want to regenerate the wager addresses, the temporary addresses you could use be compressed. And I'd seriously consider regenerating the public wager addresses too. It's like a free 20% saving. The old addresses can of course still work.



Another is not quite ready yet, but when the payment protocol work Gavin is doing completes, you could drop the messaging micropayments and use real messages (with words!). A public commitment to do that work when it's feasible would be great to see.

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NewbieActivity: 57Merit: 0 Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx March 29, 2013, 10:12:21 PM #1250



I recently created a page on Wikipedia about SatoshiDice, although it isn't advertising, it could spread the word about the website. However, it takes a lot of time for new pages to be reviewed on Wikipedia, so if you guys could help me edit it and/or get it reviewed I would be very happy.



http://en.wikipedia.org/wiki/Wikipedia_talk:Articles_for_creation/Satoshidice



Thanks for the update Erik and keep up the good work! Since you guys are talking about advertising I thought to post this:I recently created a page on Wikipedia about SatoshiDice, although it isn't advertising, it could spread the word about the website. However, it takes a lot of time for new pages to be reviewed on Wikipedia, so if you guys could help me edit it and/or get it reviewed I would be very happy.Thanks for the update Erik and keep up the good work!

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NewbieActivity: 13Merit: 0 Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx March 29, 2013, 11:09:20 PM #1251 It's interesting to hear the big Mircea's vision, sounds quite reasonable.



Eric - as for the whale being you, I prefer to trust mathematics. You'd have to spend around as much on dividends (like 5kBTC?) as you'd earn from the increase of the share price and re-IPO (~0.002 increase times 5M = 10kBTC). It would be a stupid & risky strategy.

As for the guy who recently won - he did a small AMA on reddit.com/r/bitcoin, I think, it's a nice read.



Thanks for the nice polemic, Eric, and MPOE_PR. I'm off for Easter now, cheers. As for people still loving MPOE - It's called a "stockholm syndrome" I thinkIt's interesting to hear the big Mircea's vision, sounds quite reasonable.Eric - as for the whale being you, I prefer to trust mathematics. You'd have to spend around as much on dividends (like 5kBTC?) as you'd earn from the increase of the share price and re-IPO (~0.002 increase times 5M = 10kBTC). It would be a stupid & risky strategy.As for the guy who recently won - he did a small AMA on reddit.com/r/bitcoin, I think, it's a nice read.Thanks for the nice polemic, Eric, and MPOE_PR. I'm off for Easter now, cheers.

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LegendaryActivity: 1008Merit: 1005Democracy is the original 51% attack Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx March 30, 2013, 04:45:21 PM #1255 Quote from: Mike Hearn on March 29, 2013, 07:37:36 PM Erik, thanks for the update.



There are some simple things you could do to reduce load on the chain. One is to (re)generate your keys to use point compression. Bitcoinj has supported this for some time and the patch can be backported by fireduck if need be. Even if you don't want to regenerate the wager addresses, the temporary addresses you could use be compressed. And I'd seriously consider regenerating the public wager addresses too. It's like a free 20% saving. The old addresses can of course still work.



Another is not quite ready yet, but when the payment protocol work Gavin is doing completes, you could drop the messaging micropayments and use real messages (with words!). A public commitment to do that work when it's feasible would be great to see.



We've been considering the compressed keys for a while now. We have some slight security hesitations, but I believe we will be implementing this eventually, if not for the main addresses then for every new address we'll be creating (and this will be more relevant due to other developments we have in mind...). It's possible we'll do it for the main addresses as well.



We would ABSOLUTELY LOVE to drop the messaging micropayments and use real messages. We'll absolutely integrate this, and if I can offer some funds to help with that development, I will. I've told Gavin that SD is willing to fund worthy dev projects and have encouraged him to reach out to me if he comes across such a thing.



The messaging potential of Bitcoin is an excellent solution to the SD dust problem, and I'll do whatever I can to assist with that. We've been considering the compressed keys for a while now. We have some slight security hesitations, but I believe we will be implementing this eventually, if not for the main addresses then for every new address we'll be creating (and this will be more relevant due to other developments we have in mind...). It's possible we'll do it for the main addresses as well.We would ABSOLUTELY LOVE to drop the messaging micropayments and use real messages. We'll absolutely integrate this, and if I can offer some funds to help with that development, I will. I've told Gavin that SD is willing to fund worthy dev projects and have encouraged him to reach out to me if he comes across such a thing.The messaging potential of Bitcoin is an excellent solution to the SD dust problem, and I'll do whatever I can to assist with that.