Quote from: evoorhees on June 01, 2013, 07:23:30 PM

Quote from: pikeadz on June 01, 2013, 01:35:32 AM

I remember the point when SD started going downhill. It was in early February right when voorhees issued all those shares which halved the value of everyone's stock. Remember when he said the price would recover to the true value (which was about .0076/share at the time) within 2 days? Yeah, still waiting for that lol... I am so glad I sold this trash before it tanked. The asset, the site, and the management. What a joke.

Ahhhh early February... you mean right before BTC went up 10x?

This is a question to shareholders who are very critical of me. Do you realize that when the BTC exchange rate goes up 10x, it means site earnings measured in USD must go up 10x as well in order to maintain the same share price?

All else equal, the fact that the exchange rate went up 10x and the site earnings in BTC did not drop to 1/10th means the site is growing in real terms. The fact that such extreme BTC appreciation makes it nearly impossible for nominal share price to increase is unfortunate, but is this the fault of SD?

You do realize that if measured in a more stable store of value like USD or gold, SD's earnings have consistently increased over time, despite hordes of competitors, despite PR smear campaigns, and despite now a US blockage.

I understand people are upset because they haven't seen any visible movement (no new site, new features, etc.), and this is reasonable criticism that will only be put to rest once you see the new site. However, increasing site earnings by 10x over the course of 2-3 months in tandem with the exchange rate is an impossible task.

The USD-measured valuation of the shares at IPO was reasonable, and the USD-measured valuation of the shares today is reasonable. Indeed, the USD-measured valuation of the shares since IPO has increased, not decreased. Yet... the BTC exchange rate went up 10x and so the nominal share price is down, and this is what people see, unfortunately.

What I'm saying is, I think the criticism here is out of hand. The site is growing, it has avoided hacks of all shapes and sizes, it has navigated legal waters that threaten its very existence, it has maintained its position despite throngs of competitors, and it has done all of this with extremely low overhead.

I do not take a salary from SD. I am paid dividends per share like every other shareholder here, and yet I front all money for development, I have thousands of personal BTC on zero-interest loan to SD, at risk every day, to provide depth for SD's betting pool which shareholders receive the benefit of for free. I've paid significant legal expense out of pocket, for which SD shareholders receives direct benefit for free. Still, some shareholders seem to think I've "shitted on them" because the share price hasn't increased nominally along with a 10x exchange rate increase. Tough crowd.

I'm not asking for people to be happy with the fact that the nominal share price has fallen. I'm simply asking for people to consider the context in which this has occurred - crucially, a 10x increase in the exchange rate.

Some understanding from your side might be helpful here. Shares were dumped at a bad time for shareholders, and people who invested during that time lost a great deal of opportunity cost; incidentally, that value was transferred to you, in a way, due to timing. Additionally, there's been no attempt to even pretend you want to redeem shareholders. Instead you're apparently asking for sympathy, poorly: "I have thousands of personal BTC [...]." Really? I'm told running a business is hard, but I'm not going to weep. In fact, I (as a shareholder) feel like you used me as a cash grab, intentionally or not, for the sin of believing in you.