Quote from: Korbman on March 02, 2013, 03:10:25 PM

Quote from: Bitobsessed on March 02, 2013, 06:28:44 AM

Quote from: ianbakewell on March 02, 2013, 06:17:11 AM

So with the BTC rallying up, S.DICE is valued at ... 1 000 000 000 * .0062 = BTC6200000 @ $30 | $18,6000,000
Is this high? low? about right?

Hmm...I dunno. Just because BTC is at $30+ does not mean you can do calcs like that. Is it extremely valuable, yes. But to extrapolate like that, just does not make sense. Think about it a minute.

I thought it was only 100 million shares total, not a billion?

Even so, how does valuing a company in USD (or any currency that a Bitcoin can be converted to) not make sense? Just because they operate in Bitcoins doesn't mean we can't do some quick math to figure out their "real world" worth...

Yes, the correct figure should be 100 million shares, which would put the company somewhere around 1.8 million USD.

Doing these calculations is absolutely OK. One can sell (or buy), right now, a share of satoshidice for 0.0062 bitcoins, and one can sell (or buy) a bitcoin right now for $30 (or $35 or whatever the current rate is), so by using the intermediate of bitcoins you can sell one share of satoshidice for 0.186 USD, that is where the market puts the price of shares of satoshidice in USD. You can make similar conversions to EUR, GBP, JPY, XAU, or whatever currency you want.