Bitcoin company acquisitions begin: Gambling site SatoshiDice sells for $11.5 Million (126,315 BTC)
Blockchain-based betting game SatoshiDice has been sold for 126,315 BTC, which at the time of writing was worth around $11.47 million. SatoshiDice (S. DICE), which claims to be "the most popular Bitcoin betting game in the universe", was launched by its operator Erik Voorhees in late April 2012. The company's shares have since been traded on MPEx, the Romanian Bitcoin securities exchange. Yesterday evening (17th July), Voorhees announced the sale of the company, stating: "I believe this to be a solid, desirable, and fair outcome for those who have put their trust in S. DICE." This is....
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Over one year ago, the launch of Erik Voorhees' SatoshiDice marked the moment that Bitcoin gambling took its first major step into the mainstream. The site offered a level of convenience unmatched by any Bitcoin gambling site - indeed, any online gambling site regardless of payment method, in history: users send money to a Bitcoin address, and if they win they immediately get more money back. The site was an instant hit, rapidly growing to such a point that roughly 50% of all transactions on the Bitcoin network were to or from its addresses. By the beginning of 2013, the site was earning....
Citing legal advice, Bitcoin gaming site SatoshiDice is closing to US players, moving to block all US-based IP addresses from the website. Posting on Bitcointalk and the Bitcoin reddit page, satoshidicepr, an official representative of the site who asked to remain anonymous, said the decision, which is effective as of today, was taken following "extensive legal counsel." "The best way to limit legal risk for SatoshiDice, and thereby protect its stakeholders, is to block US players," the post states. The company adds that the decision does not mean that online gambling is illegal in the US,....
When it comes to online gambling versus traditional bricks-and-mortar casinos, the internet has the upper hand. Online casinos don't have to hire a bunch of employees, build fancy edifices or wow gamblers with marketing tactics to bring them in. On the other hand, internet gambling in the United States operates in a grey legal area. Online casino operators get away with it by hosting their sites outside of US borders in places like Costa Rica. It's a profitable business to be in: according to the American Gaming Association, online gaming is a $4-6 billion market. That's precisely why....
Bitcoin gambling site SatoshiDice has recovered after being felled for several days by a DDoS attack. The site went down several days ago, and was inaccessible from the Internet. Erik Voorhees, who created the site and sold it for $11.5 million in July, no longer runs the site, but naturally still has insights into how it operates. DDoS attacks happen a lot to bitcoin gambling sites, he said. "They largely wasted their money," he said of the attackers, pointing out that the website isn't needed for the placing of bets. It simply provides information about bet statistics, and bitcoin....
Moreover, it does not appear as if any of the platform's investors have made a complaint about their money being used to pay out winner earnings. Bitcoin and gambling are two peas in the same pod. One of the more popular bitcoin gambling platforms goes by the name of SatoshiDice. However, it appears this service is no longer operational for some unknown reason. One user mentions how the platform also stole investor funds, although that’s not been officially confirmed as of right now. It is never good to see platforms such as SatoshiDice suddenly rebrand without much of a warning. The....