SatoshiDice, the largest Bitcoin online gambling site, has been sold in full for 126,315 Bitcoins. At the current exchange rate, that is approximately 11.5 million in US dollars.
One of the largest businesses in the Bitcoin economy, SatoshiDice couldn’t be simpler in design—players send bitcoins to a specific address, each with a different payout percentage. Send a bitcoin to address 1dice8EMZmqKvrGE4Qc9bUFf9PX3xaYDp, for example, and you have a 48% chance of doubling your money.
According to reports, SatoshiDice has taken more than $15 million in bets and, in January 2013, reported profits of $500,000. In May, the business blocked visitors with US IP addresses from accessing the site, but this does nothing to prevent US players continuing to send money to the SatoshiDice gambling addresses.
SatoshiDice is “floated” on the unregulated Bitcoin exchange MPEX, listed with ticker symbol S.DICE.
