Bitcoin gambling website SatoshiDice sells for USD11.4m

Payout for asset holders

Bitcoin gambling service SatoshiDice has been purchased by an anonymous source for 126,315 bitcoins (USD11.4m). The website, also known as S.DICE, was launched last year. The firm runs a gambling platform that involves users placing bets by sending bitcoins to an address. Once sent, a generator determines how much money is made or lost. SatoshiDice describes the system as trustworthy and nearly instant in payment.

SatoshiDice founder Erik Voorhees made the announcement on a message board in which he informed asset holders of a payout. Voorhees adds that the unidentified buyer will take over ownership, operations and management. He co-founded BitInstant and claims to store his assets as bitcoins.

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