Erik Vorhees – SatoshiDice.com

Erik Vorhees operates SatoshiDice.com.  This is a gambling site that is essentially a high/low game.  This site is very controversial not only due to the fact that it was the first large Bitcoin gambling site, but it has also been accused of disrupting the Bitcoin network.  The way the site used to work was a very small “dust” transaction verified all bets.  A “dust” transaction is a very small fraction of a penny and cannot be spent without generating more fees that the value of the transaction.  the funds can be spent if you have technical know-how but it is generally not worth the effort.

The “Satoshi Dust” transactions account for the majority of Bitcoin transactions.  This situation led to a problem in the network known as a “hard fork.”  Due to the pressure that Satoshi dice placed on the network updates were rolled out without enough testing to detect a bug.  While some blamed SatoshiDice.com for the problem, others say it is a good that the network is being stress tested and the bugs detected now rather than later when the system has many more users.

Interview on Let’s Talk Bitcoin

Bitcoin  – The Libertarian Introduction – Erik Vorhees

Bitcoin Casinos Release 2012 Earnings

What Is Bitcoin? Tom Woods Talks to Erik Voorhees – March 2013

[youtube]http://www.youtube.com/watch?v=yi2WgeJ73IE[/youtube]

2013 Bitcoin Symposium – Erik Vorhees

[youtube]http://www.youtube.com/watch?v=YbLYmjXsydM[/youtube]

 

 

 

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