Ninjastic
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Re: S.DICE - Want a piece of SatoshiDICE? IPO this week before new site launch!
by
evoorhees
on 27/08/2012, 17:14:21 UTC
Quote from: EskimoBob on August 27, 2012, 07:56:34 AM
Quote from: evoorhees on August 27, 2012, 05:33:30 AM
Quote from: cedus on August 27, 2012, 12:22:30 AM
Quote from: evoorhees on August 21, 2012, 07:39:57 PM
So it is thus accurate to say that I prefer 32k BTC instead of 10% of SatoshiDICE, but I would not prefer 15k BTC instead of 10% of SatoshiDICE. My investment preference only shifts to the BTC at the 32k for 10% exchange rate. Further, I wouldn’t sell another 10% for an additional 32k btc, for at that margin my preference shifts back to SD.

If some portion of the Bitcoin investment world has a matching inverse time preference to to mine, and is thus willing to pay 32k BTC for 10% of SD, then we all have a deal and the exchange is made. Otherwise, my exchange preference and that of the market do not align, and we continue on as we were.

Are you planning to call off this IPO since the second tranche is practically untouched after 24 hrs and the third one should also be released by any moment now? Seems like your conditions above (emphasis mine) are not going to be met.

What price you're going to use when buying back shares? I mean, if someone is now buying in for .0034 and then you decide to cancel the IPO and buy back for .0032 there's immediate 6% loss (plus possible MPEx/GLBSE fees etc). Didn't find a clause for this when glancing over the conditions.

No intention of "calling off" anything. If shares don't get bought, then I get to keep the dividends to myself. No biggie.

Actually it is a biggie to you and not for the investors.
If you do not buy those shares personally from the IPO, you can not get the dividends. As simple as that.
If part of the IPO is not sold out, shares will be "bought back" or more like held by the company (not you as a person) and those shares become so called treasury stock. Treasury stock will be excluded form dividend payments and have no voting right etc and are not part of the SD equity (in your balance sheet). 
Option #2 is, you cancel the left over shares and by that you reduce the number of the total outstanding shares.
Option #3 You cancel the whole issue and return the money to IPO participants at the price they bought the shares. 
Like I mentioned before, you got greedy Smiley and this moron, who advised you on your IPO, has no idea what he is doing or did.



Nonsense. The shares which are not yet sold are still owned by me. They are in my personal MPEx account, just as if I had bought them. Dividends thus go to me.