DEVTOME.COM HOSTING COSTS HAVE BEGUN TO EXCEED 115$ MONTHLY. THE ADMINISTRATION IS NO LONGER ABLE TO HANDLE THE COST WITHOUT ASSISTANCE DUE TO THE RISING COST. THIS HAS BEEN OCCURRING FOR ALMOST A YEAR, BUT WE HAVE BEEN HANDLING IT FROM OUR OWN POCKETS. HOWEVER, WITH LITERALLY NO DONATIONS FOR THE PAST 2+ YEARS IT HAS DEPLETED THE BUDGET IN SHORT ORDER WITH THE INCREASE IN ACTIVITY ON THE SITE IN THE PAST 6 MONTHS. OUR CPU USAGE HAS BECOME TOO HIGH TO REMAIN ON A REASONABLE COSTING PLAN THAT WE COULD MAINTAIN. IF YOU WOULD LIKE TO SUPPORT THE DEVTOME PROJECT AND KEEP THE SITE UP/ALIVE PLEASE DONATE (EVEN IF ITS A SATOSHI) TO OUR DEVCOIN 1M4PCuMXvpWX6LHPkBEf3LJ2z1boZv4EQa OR OUR BTC WALLET 16eqEcqfw4zHUh2znvMcmRzGVwCn7CJLxR TO ALLOW US TO AFFORD THE HOSTING.

THE DEVCOIN AND DEVTOME PROJECTS ARE BOTH VERY IMPORTANT TO THE COMMUNITY. PLEASE CONTRIBUTE TO ITS FURTHER SUCCESS FOR ANOTHER 5 OR MORE YEARS!

Satoshi Poker Sold – Analyzation of Business

Satoshi Poker was recently put up for auction (and supposedly sold, although there is no verification of this information at this point). When I was going through the auction page (listed in this article at the bottom as the source), I ran in to a big problem with it. The numbers simply do not match up. While it is pretty hard to tell exactly what happened with the site and why, the simple fact is that based on the information that was given publicly, it just does not make any sense. Let us take a look at why this is.

  • Satoshi Poker was one of the more popular sites

While it did not have a massive player base, it was one of the more popular ones. As far as I am aware, it was behind only one: Seals With Clubs. Because of this, it clearly had some play on it and should have some income

  • The cost of running the site was estimated at $118.50 per month

Assuming we are just looking at 2014, we are at around 0.25 (at its lowest point, pretty much) BTC per month. At high points, even less than this. So essentially if the site is making at least 0.25 BTC a month, it should be in the profit.

  • The site was making 1.5 to 2 BTC per month this year in profit

Look at the last point and then this one. This means that the site was making, this year, at least 6x what it was spending. This puts it well in to the profit margin. If we look at last year, it is claimed to have made almost 100 BTC. This is some massive profit!

  • Total liabilities: 0

This means that no money is owed to anyone. What the site has is what it owns. No debt can come of it.

But wait, let us look at this a bit further, where we see that the player balances are not being paid out because the site does not have enough money for it. In other words, while the site is earning more money than it is spending, it is somehow actually in debt.

The problem here is that none of that makes any sense. The site owner is claiming to be selling the website so that he can pay off player balances and get the site zeroed out, but it should not owe anyone money to begin with. Being that it was earning more than it was spending, it should have more than enough to pay off all of the outstanding balances without any problems at all.

I did have one person comment that maybe the previous owner was withdrawing money from the site and just took out too much and ended up putting it in to debt, not as a business, but personally. This is definitely possible, but I can not see why someone would do that. The site should always have enough money on hand to pay off all of its debts to players and all expenses that may come of it. So it leads me to believe that there may be something much darker going on here that is not being disclosed. Of course, all I am able to do is speculate, as I was not given enough information (nor was the public as a whole) as to what happened to the poker site to bring it to the state that it is currently in. I just hope that the new owner gets the information they need, does their due diligence, and is able to help resurrect it and turn it in to the great site that it once was!

Source

Businesses


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