UPDATE July 18, 2013: SatoshiDICE was sold in full to a private party. S.DICE has been delisted and closed. S.DICE holders were paid .0035 BTC per share at close. In liberty, -Erik

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Admitedly, MPEx is a bit more complicated to use than GLBSE.Here's the FAQ http://polimedia.us/bitcoin/faq.html It's run by Mircea Popescu (you can contact him with questions: mircea_popescu on IRC http://webchat.freenode.net/?channels=bitcoin-assets

The FAQ mentions about having to pay a 20 BTC amount to register your GPG key with them.So does this mean that it would cost each person 20 BTC just to put in a bid for the shares?

Yes.Also by the end of next week GLBSE will have options available (and the ability to make options) on all assets listed on GLBSE.

The FAQ mentions about having to pay a 20 BTC amount to register your GPG key with them.So does this mean that it would cost each person 20 BTC just to put in a bid for the shares?

So...all the public shares have a total of 10 millions, that's 10% of total shares. Let's say I buy 1 million shares to get 1% of satoshidice. 1 000 000 x 0.0032 = 3200 BTC. It costs 3200 BTC to buy 1%. Expected to have 2700 BTC / month in total profit. 1% of 2700 BTC = 27 BTC. It cost me 3200 BTC to get 27 BTC / month and it would take me around 118 months to recoup my initial investment, or around 10 years. I like satoshidice and I appreciate its potential....but I'm not sure at all.

Given the figures of 65BTC/day, 10% across all shares, and so on, I got about 0.5%/month return. With your figures I got about 0.8%/mo. I understand that under most business plans 7%/wk is a clear scam, but this seems like the other side of crazy.

So...all the public shares have a total of 10 millions, that's 10% of total shares. Let's say I buy 1 million shares to get 1% of satoshidice. 1 000 000 x 0.0032 = 3200 BTC. It costs 3200 BTC to buy 1%. Expected to have 2700 BTC / month in total profit. 1% of 2700 BTC = 27 BTC. It cost me 3200 BTC to get 27 BTC / month and it would take me around 118 months to recoup my initial investment, or around 10 years. I like satoshidice and I appreciate its potential....but I'm not sure at all.

BTW, it seems that a couple of people made the mistake. In the IPO, the shares are valued at 0.0001 BTC each for a total of 10 000 BTC. But they sell at 0.0032+.

what is stopping someone from coding up a clone of satoshi dice over a weekend and taking a piece of the pie... thus reducing your profits. it seems that is a major threat i would love to hear countered.

I am convinced you are not a ponzi scheme - mainly because the returns are so unattractiveThere is at least 1 clone of SD: http://btcdice.com/And a "themed" clone of satoshidice: http://satoshiroulette.com/ with the market expected to grow I dont see people ever getting their ROI.Also Id like to know what bank SD has behind the casino

So...all the public shares have a total of 10 millions, that's 10% of total shares. Let's say I buy 1 million shares to get 1% of satoshidice. 1 000 000 x 0.0032 = 3200 BTC. It costs 3200 BTC to buy 1%. Expected to have 2700 BTC / month in total profit. 1% of 2700 BTC = 27 BTC. It cost me 3200 BTC to get 27 BTC / month and it would take me around 118 months to recoup my initial investment, or around 10 years. I like satoshidice and I appreciate its potential....but I'm not sure at all.

did i read the fine print right, 100,000,000 shares at .0032 or 3,200,00 btc or more than 30 million usd? that is insane...

Your math is a little broken there, but as they say practice makes perfect.Me too. Cause of the math. In general money people are good with numbers.I'm not a tech, but I would guess the same thing is stopping someone today that stopped someone up until today. And also the same thing that stopped all the groupon clones from becoming groupon and all the facebook/twitter clones from becoming facebook/twitter. In the words of the once-famous Jerry Seinfeld,Go with the flow, hate less, live longer.

what is stopping someone from coding up a clone of satoshi dice over a weekend and taking a piece of the pie... thus reducing your profits. it seems that is a major threat i would love to hear countered.

did i read the fine print right, 100,000,000 shares at .0032 or 3,200,00 btc or more than 30 million usd? that is insane...

A very good point, SD did get its name out there and establishedCare to elaborate what mistake was made with the maths.

I'm not a tech, but I would guess the same thing is stopping someone today that stopped someone up until today. And also the same thing that stopped all the groupon clones from becoming groupon and all the facebook/twitter clones from becoming facebook/twitter. In the words of the once-famous Jerry Seinfeld,