Re: S.DICE - Want a piece of SatoshiDICE? IPO this week before new site launch!
I would love to have a pice of s.dice, but the deal sucks for everyone else except for you.
And I can't see how the company would keep it's value when bitcoin rallies against the other currencies..
thumbs down.
And I can't see how the company would keep it's value when bitcoin rallies against the other currencies..
thumbs down.LOL how does the deal suck? Cause it doesn't make 7000% per year? Man people have been spoiled
And, as mentioned, SatoshiDice volumes have GROWN while BTC appreciated against the dollar, meaning when the BTC was 2x as valuable as prior, the site had grown nominally in BTC, thus the actual growth of the site has been tremendous. Dividends are paid in BTC, so the extent to which BTC rallies against dollars is not as important as you're making it out to be.
Overall, I have nothing against your business model. Clearly you are large, have excellent growth, and are profitable.
However, A company dealing purely in BTC is ultra-risky compared to traditional investments. Therefor, a P/E of 10 seems unwarranted.
There are companies on major exchanges that, ex-cash, have a 10 P/E ratio + growth. Said companies are established and are in major industries, and are denominated in USD. While we all have our qualms with fiat currencies, the USD is much more stable than BTC, and therefor companies denominated in them are in general more stable.
Again, I think you have an excellent company, but the IPO does not seem reasonably priced for such major risks.