Post
Topic
Board Securities
Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx
by
RationalSpeculator
on 13/06/2013, 12:10:18 UTC
Let me step back a bit here.

My last few posts were unprofessional. I apologize for the tone. Having a bad day dealing with government bureaucracy =/

I absolutely should have disclosed that there was a betting pool, and that this pool consisted of the loan from me. The reason I did not was because I figured since there was a liability (the loan) and an asset (the 6100 btc in the wallet) the two cancelled out and needn't be mentioned. Obviously this was retarded of me. Again, I apologize. And I understand why such disclosure is so important even if the asset remains there - for situations like this!

I understand also that as a shareholder, being asked to forgo a month of dividends in order to replenish a fund which you didn't know existed is upsetting. I should have recognized this before I posted.

I'll continue with the last plan I mentioned. My dividends for June will be retained by the site for the betting pool. S.Dice holders will receive dividends as normal. I'm sorry for the drama today, I can see it was largely because of me and how I approached the issue and responded to you guys.

Back to work.

Thank you Erik, I value you taking ownership for the mistake you made.

About the pool, it looks like we will continue to be very dependent on your generosity in case it comes short due to a very unlucky month. Generosity that at any point in the future can be justly denied by you. Say sdice ends up with a loss of 15k btc. And you cannot or do not want to lend those extra funds, then every shareholder will have to provide capital or new shares will have to be issued, otherwise it will go broke. I see a potential big drama unfolding.

Wouldn't it be in the interest of all shareholders to withhold some % of the dividend to build up a stronger capital base, owned by the company? Or is above scenario unrealistic?


(unrelated, if sunnankar is correct there should be still 3450 btc in reserve for a marketing campaign, owned by the company, maybe these funds can be used instead to start building a stronger capital base/pool, owned by the company? that way you solve 2 problems in 1 go)