Largest Bitcoin deal: SatoshiDice online casino sold for $ 11.5 million equivalent
The Bitcoin payment system continues to gain momentum: now even such large transactions as the purchase of companies are paid through it. The Next Web reports that the gambling site SatoshiDice has been sold to an unnamed buyer for 126,315 bitcoins, which at the current rate corresponds to approximately 11.5 million dollars.
SatoshiDice is an online casino that uses bitcoins for transactions. The site was launched in April 2012 and calls itself "the most popular Bitcoin game in the world." In January of this year, the project’s income was estimated at over $ 50,000 per month.
The game system in SatoshiDice is as follows: users send bitcoins to the site and select a number. The “Satoshi Ghost” rolls a dice and those who choose a number that is more than the dropped out win.
To date, 5.3 million bets have been made on the site, of which more than 3.9 million have won. According to the company, the winning amount is transferred within 30 seconds, while a small commission is charged from each bet.
SatoshiDice shares were listed on the Romanian MPEX Bitcoin exchange. Founder of the project, Eric Voorhees, said that shareholders will receive 0.0035 bitcoins per share, which is 277% more than the selling price and 175% of the company's estimated value on MPEX.
As Voorhees wrote on the Bitcoin forum, he hopes these payments will offset the frustrations of those who bought S.DICE stocks for the long term.
This transaction is the first significant buyout of a Bitcoin company and demonstrates how much money is spinning in this area. Bitcoin has already attracted the interest of US authorities this year when they launched an investigation into Mt.Gox, the largest Bitcoin exchange. In May, authorities froze transfers between Mt.Gox and the Dwolla payment system for conducting an “unlicensed money transfer”.