Bitcoin Forum

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I found this old screenshot showing how players used to gamble in full Bitcoin units. As you can see, bets were in the hundreds of BTC,  win or lose in just one click.

At that time, 160+ BTC might not have looked insane. But if you think about it today, that kind of stake is already worth tens of millions of dollars.
Stories like  Nakowa’s (https://www.ccn.com/biggest-winners-losers-bitcoin-gambling/), where someone won or lost 11,000 BTC, would now be worth over a billion USD if those coins had just been held.

It just proves how different things were back in the early days.

Back then, gambling sites didn’t use decimals or sats, it was whole Bitcoin bets.
The value wasn’t as “precise” as today, people threw around BTC the way we throw around a few bucks now.
Now that Bitcoin has grown so much, gambling in full BTC is almost unthinkable. Everything is already calculated in fractions (mBTC, sats).

So for discussion purposes,
 Do you think the players back then had no idea about the future value, or they just didn’t care?

Back the amount of Bitcoin is so low that even I bet 1BTC or more on a dice game. But that amount is already considered a whale gambler since 100BTC+ is already hard to accumulate back then when I first involved on Bitcoin specifically dice game.

Those people betting that amount will sure not bet that same amount of Bitcoin today but looking back on betting history sometimes regretful especially if most of it just lost in the casino.

But no one will know that Bitcoin price will skyrocket to the current price so we don’t need to feel bad about it because back then we are still enjoying on the new found entertainment with the use of Bitcoin.

Those players back then contributed to Bitcoin growth. There was data shared on this gambling board which shows the amount of transactions back then which flowed through the casino. Then the value was very low, and they could have used anything worth that value if Bitcoin was not an option.

We don't need to start thinking about what they could have been worth now, as the coin did not go to waste, and it went straight into the hand of another who might have also spent it, sold it, or held it in a private wallet waiting for when to cash out.

When you have something in large quantity, losing some won't actually bite that much. That was what they had to gamble with and they did. Them doing that doesn't mean they they didn't believe in the future of bitcoin, they were only using bitcoin in the other purpose it was also intended for, which is payment for good or services rendered.

I’ve never tried betting a whole btc, just 0.5btc on a single dice bet. Looking back now, that was super dumb, lol. For real, I could’ve been a millionaire by now. But that’s nothing, before Hupplepuff, there was AKcoinminer, who had already won hundreds of btc but didn’t stop until he was down by 500–700 btc. I remember watching him bet 12 BTC per roll, and I don’t think he was even pre-rolling, just straight up rolling nonstop. At least thinking about that helps me console my own biggest “what if” in crypto.

I can imagine how they thought Bitcoin won't amount to nothing good, but the years upon years of regrets may stay with them for life. People did so many unnecessary things with hundreds and thousands of Bitcoin at a stand, and If we look at the value of each of these coin today, that's just incredible!

Sometimes I feel like Bitcoin started off in the wrong hands, with the wrong people.. The real essence of HODLing for long-term wasn't part of their plan, but who knew the value would rise this high? We all know of someone else that bought a pizza with thousands of it.

That was insane. I was around in the early stages too, but I never bet a whole Bitcoin. My max was 0.5 BTC, and that was on sports betting, not the famous dice games. I used to play on SafeDice back then, with that divest/invest feature that was really popular at the time. The site is technically still active, but when I tried to check my old bet logs, I couldn’t log in anymore. Maybe it turned into a scam already, if I’m not mistaken.

There’s always that “what if.” I didn’t lose that much in gambling, but I still spent a lot of Bitcoin back then - just like many others.
If I had just held, I could have been a millionaire in USD by now.  :)

Bettors were using BTC to speculating the short term profit, not long term. At that time 1 BTC means nothing. That's why they didn't even care with the potential future value of Bitcoin, but it's not their fault at all. They might be using lethal amounts of BTC to gamble with the hope to earn fast money. It's because not many people were financial freedom at that time.

Just like when i sold some btcs for a few hundreds buck each.  I did it caused by i was not financial freedom and i need the money.  ;D ;D ;D

Well, perhaps we can reverse the perspective. Let's think about how it might seem in the future that betting with millibitcoins is normal. Although if the price rises significantly in the future, and millibitcoins seem like a fortune, looking back to that point where people were betting whole bitcoins will be even more impressive. But the fact is that this is many years away. Normally, people who bet with bitcoin are thinking about the equivalent value in dollars or the fiat currency of where they live at the time. If you think about what it might be worth in the future, you HODL.

The majority of early Bitcoiners would have held their coins if they had prior information that the coin would grow to this level. Why would someone gamble off a fortune just like that? In those early days, it was easier to own hundreds of Bitcoins that was why it was also easy to spend them. And many people saw the coin as a means of getting entertained, which was why gamers and gamblers constituted a high population of early adopters of Bitcoin.     

Thats facts, the reason why they were able to use such amounts of Bitcoin is because they had a lot in their possession...even till this day there are gamblers that still lose huge amounts of Bitcoin...people gamble within their capacity, it's only a problem when you go out of your comfort zone...But I can say that some of these gamblers would be reminiscing on the current price of btc and what they would have gotten if they hadn't lost their tokens

We cannot blame them for their actions as at then, no one know we could have achieved to this extent with bitcoin, moreover as at then, the value is worth nothing to compare to what we have today, many were able to get it from as at then, some hold it, some gamble it and some also give to others as gift while the last category were those that couldn't account for how it got missing over time, everyone has one or two things to point out regarding bitcoin in the early days and in relation to gambling that we have done in the past.

I think there are many possibilities. First, they know about future value, but they ignore it, either to gamble or to multiply their money (to get bigger results in the future). Second, they don't know at all, so they simply gamble without any consideration. Well, those are some of the possibilities I have considered. Furthermore, I also believe that every gambler should gamble or bet without involving valuable goods or assets, especially those with the potential for future price appreciation. It should be better to gamble with goods or assets they can afford to lose, or indirectly, exchange them beforehand. This is intended to avoid future regrets, as it would be different if they had gambled with something other than Bitcoin.

They only did so because they never thought or imagined that the value of Bitcoin would go so high that it is now compared to the time they used to play and honestly I don't blame them, I never thought Bitcoin would go so up in value during these few years it has been with us. I used to gamble myself in 2014 0.2 to 0.5 Bitcoin quite some times that when I think about such stupid things I have done I feel extremely sorry for myself because if I had like 2 or more Bitcoin nowadays would be my pass to financial freedom as I don't think I will be able to have 250.000 dollars net value profit in the years remaining to me to work, wow now I am even more sad than I am normally.

Both point taken, they have no idea of how much Bitcoin will be in the future and those 3 digits of bitcoin spent on a casino are like a few hundreds maybe and even lower depending on which year it had happened.

And just like us, we've probably spent a couple of Bitcoins with our older bets not knowing that it's going to be this 6 digits value per bitcoin.

If we have already regret on the amount we used to gamble before and that is because we have no idea on how much it will be in the future just like them.

You're right, blaming them isn't right because most people then never believes in Bitcoin, they never thought that Bitcoin will amount to the value as we have seen in the recent time, sometimes i really give kudos to those that judiciously hold their Bitcoin from then till Bitcoin becomes very valued that's not an easy task, it requires very high discipline for anyone to journey through that part, although some gambled with it and won with it too and some weren't lucky to win, if we keep remembering some of this events that took place in the past, some people will get more devastated because if they tell the story of their own Bitcoin it will look as if they were jokers.i think by gone should be by gone let's face the future.

it’s pretty insane looking at it now lol i almost got a heart attack seeing the numbers but remembering that this was a long time ago and therefore bitcoin wasn’t valued as the same now

if we convert it now, 165 bitcoins would be 18814235.58 usd that’s insane to think about!!

Still there are some high rollers even today who bet on thousands of dollar even hundreds of thousands if you look in the leader board or even the recent bets of the casino homepage. I guess what you are saying though, once it wasn't valued that much but today it is the most hot topic when it comes to internet or money for the last few years and just be happy that we are fortunate enough to be a part of the bitcoin's journey when it is valued at 100K and I am here from 1000 dollars but in the next 10 year the value might be 1 million right?

So what we bet today will be huge in the next decade.

No one knows what will happen to the value of Bitcoin in the future. Back then, its value was not like it is now. It was very easy for those who had Bitcoin to bet it in large amounts. Now, of course, we would think twice about staking that much. 
If you were at that time, wouldn't you also still stake your Bitcoin? At least for the amount you are willing to risk. 
If you only have Bitcoin to wager, then you would still use it to gamble. There’s no need to sell it on an exchange to get fiat, then go to a casino.

High rollers will always bet huge amount of money, no matter what the price of bitcoin is. But the situation before was totally different as the value of btc was very small and think of it that betting 1 btc was very small of value, which you can't even consider a high roller. Definitely, if they even had the idea that it will go much thousands of dollars in price, I would say, they won't be using it to bet but of course, they will be securing it to their vaults. But no one knew at that time.
I also had some few bitcoins way back in 2015 and I exchanged it as I need it. Who would have thought that it will fetch a very good price in the market in the next few years? So I guess, those who kept their BTCs and remember where they stored are very lucky.

I also like a d appreciate bitcoin for one thing, it renders free and equal opportunities for everyone using it over time, which means, all these we see today as missed opportunities of the past can still be reclaimed back, if we take advantage to invest and hold for some more time to come, because bitcoin increases in value over time and we can't afford not to invest today against the future coming tomorrow, if we have truly missed it in the past, then the future can be determined by the choice or decision we made today on investing, while gambling with your Bitcoin should not be seen as a loss as well, because we have achieved the fun targeted in it as at when we played.

I think my highest bet back in those days was 0.1 BTC, and I am already hurt whenever I lost the bet in Dice.

Those who bet on a whole Bitcoin were the Beta owners, and I believe it's valued much less because no one really wanted to have Bitcoin, or they were just playing with what they had earned.  :D For me, I was trying to double my Bitcoin so I could cash it out because it's already valued at a decent amount when I started.

Thank you for sharing that.

If I had known back then that Bitcoin would reach more than $100k, I would have used other coins and saved as much Bitcoin as possible. However, people back then had no idea; all they cared about was depositing, playing, and trying to win. They were so involved in gambling that they were not speculating on the price.

There were very few people who believed that Bitcoin would reach six digits; they are the ones who changed their lives because of Bitcoin and have reaped the rewards for holding to that belief.

Those are early adopters and the most bitcoin promoter, because they where using bitcoin even when no one know about Bitcoin yet they where using bitcoin and they contributed significantly to the growth of bitcoin.
If i were one of those that gambled with 70 BTC even if i lose at the moments i still be proud to have been a part of some as significant as bitcoin.

People did not have idea of the future value of those wagers, actually, that is likely what happen in most occasions and with most gamblers out there, but we also need context of the whole situation when Bitcoin was at its peak on Bitcoin exclusive casinos. People did not want to gamble with fiat and there were not so many alternative options and stablecoins as there are today.

Ironically, there could be many people in a few years who will regret to have spend some thousands of Satoshis on casinos today, as Bitcoin continues to increase in value.

Such a huge amount to gamble. I don't think there's still someone willing to bet such a big amount of BTC nowadays. I think even big holders won't waste some of their BTC to gamble in the present.
In the past BTC was not worth much; that's why they don't bother to spend such a big amount like this to gamble.


About the future value maybe they don't actually know the future of BTC since some of the people I chat with give me a large amount of doge, around 1b, based on my experience, but sell it for a cheap price. If I knew the future of dogecoin, I would already have a Lambo. Same to them; they don't know the future, and they think BTC is useless.

Those that have gambled as at then enjoyed the benefits of using crypto for the purpose, which they see as a big development since it could be used to gamble the same vein we make use of fiat in gambling, I have also seen some recent threads on gambling discussion about how gambling has contributed to the massive growth of bitcoin as gamblers make use of bitcoin for the same purpose, which helped the increasing adoption rate we have altogether.

Those that have gsmbled away alot of Bitcoin in the past like the gambler that staked around 70 Bitcoins will be regretting by now if he lost that bet, and for some reason I don't no why the screenshot did not include the outcome of those bets but I am sure that is not all the bets that ended up winning in the end, so there is already heavy losses from those Bitcoin.

At the time of the bet, the price of Bitcoin was relatively low and affordable, but as it stands any of those gamblers that look back at the wallets by now will be mavel on how much Bitcoin they have wasted if they have hold on to they Bitcoin.

A lot would probably have known that the value of bitcoin would increase in the future but the anonymity feature that comes along with bitcoin lokely helped sway people into using it. It being a digital medium of exchange added to the reason why people back then played with over 1 bitcoin.
Perhaps someday in the future when the price of bitcoin would have gone insanely high, people would be wondering why and probably talking about how we're currently using some few satoshis to place bets.

I can't really guess if they had no vision of bitcoin reaching an unthinkable price but fore I think the price at that point was just worth gambling with, it just money anyways, just a difference of appreciation and depreciation that is bitcoin Vs fiat.

If we have to keep bitcoin without spending it then, it's not longer money which my opinion those who gambled with the amounts of bitcoin had it enough but the pricing was not too expensive for them to hold onto it as a asset that can't be risked. Some also had a good amount saved while gambling with a small amount, so 160+ then would probably be a little piece that can be done away with.

There are two fundamental differences between use cases and investment assets. Bitcoin is not only an investment asset with the potential to increase in value, but also a means of payment or currency. Gamblers spend their Bitcoin as a currency or means of payment, not as an investment asset. Therefore, I don't think it's a good idea to judge how they spent their Bitcoin in the past just because the price of Bitcoin has risen to its current level.

Some of them may be aware about the potential future price increase of Bitcoin, which is why we find them investing in it and holding on to it for as long as possible. Such people certainly get a worth it return, but those who spent all their Bitcoin as currency in the past shouldn't be considered bad either.

Do players today, or anyone for that matter, have any idea about the future value of Bitcoin?  No. And neither did the players back then.

Are you asking if the first Bitcoin users were dumb and had zero clue about what was coming?  Perhaps.  But without them, would Bitcoin be anything today?

The truth is that people are still gambling with their Bitcoin till now, noing fully well that Bitcoin have a great future ahead. Honestly, I don't see any reason of blaming someone for their own Bitcoin, even though nobody know that Bitcoin would get to this extend. So there is no need for alarm because gamblers are not the same, as long as you are gambling with your money you have 100% right to whatever thing you want, it doesn't consigns anybody.

The truth is that this gambling activity that was done with the use of bitcoin then also add up to growth of bitcoin today , utilizing it and all that yes am sure that most those users know the potential of bitcoin but am sure , no of them ever picture bitcoin getting this far and funny how bitcoin is still going to keep growing , even now those small unit you are using to gamble will also turn up that way , bitcoin surging in prices and those unit you spent for gambling will be more valuable than the way it is now .

Imagine if those people behind those days are still into bitcoin and holding it, imagine how big the money they're holding right now. Of course, some of them used if for gambling and for sure, they profited a lot of it since they can accumulate hundreds of BTC in those times, they own those BTC that can't be owned that time normally. It's just a decade difference but look, massive money, that's a life changing value for me, and those who've believed in the past until now are winning in life atm!

When I was new to Bitcoin back in 2011, I used to have a group of friends from this forum that would play Monopoly online for bitcoins.  We used to play with a 1 or 2 BTC buy in and it was always a friendly game.  Nobody ever didn't pay or complained.  We just had fun.  I don't think any of us knew just how high stakes those games were and I'm glad to say that I won once.  Reliving those late night Monopoly games now with the knowledge of how valuable those coins would become would be crazy anxiety now.

They don’t have idea about it and even though some of them believe to have idea that the future value will increase, they’d hope to get some of them back by buying bitcoin back or after winning big in this bets, they can use the profits to buy back and hold. The more fact about this is that the value was also insignificant and was still within the price range they can risk, so they don’t mind about it.

Just wait, in many years to come, if Bitcoin reaches a million dollar per one as envisioned by many, the price people use today to gamble will become a very big amount then that would not be used by most gamblers to risk on just a game. As time changes, so is the condition of everything does. This happening in the future and looking back today won’t be a surprise again.

Those people were using bitcoin for it’s
Purpose, bitcoin was created to serve as alternative currency, and those people were gambling with their bitcoin, so they were helping bitcoin during that period. The reason why they were gambling with so much bitcoin then was just because bitcoin price was still so cheap, and they were able to accumulate much bitcoin at that moment, so it’s really a huge amount of money now, but it might not be so much then.

You saying maybe those people don’t know bitcoin future value, I agree with you because most people don’t believe in bitcoin when the price was still so low, but you should know that people that gambled with bitcoin definitely win some bitcoin, do you know if they decided to hold the bitcoin which they won?

That feeling is mutual! But guess what? Even we were the ones back then that had the opportunity, we’ll probably do worse, no one could just see the future or predict the future while some had a little belief in it some had it so much that they don’t need much task to earn at least 10 to 20 BtC in a day hence gambling with 160+ was just like staking 160 bucks in today’s USD value. Crazy how bitcoin turnout but it definitely was worth it for them in the early days.

It was still considered normal back then because the standards were different then and now, especially in terms of value. Therefore, I still consider it reasonable that many people risked their bitcoins, even in the hundreds, in the past, as some of my friends also experienced exchanging their bitcoins for game consoles. (I wasn't involved in Bitcoin at the time), and this is similar to what happened with Dogecoin a few years ago, where those who experienced it might have burned thousands or even millions of Dogecoin in the game, so the benchmark isn't much different for me.

However, we won’t experience or see this kind of thing again now because the value is already too high. Ultimately, we need to think twice about whether it’s still healthy to do that (betting large amounts of Bitcoin at current values :D).

If you look at it from the price of Bitcoin today, it will be unfair because as at the time of making these bets, Bitcoin was still very cheap and just like the normal money we use in gambling today. The question is, were people richer then than now? The answer is no, people were gambling with what they can afford to lose and then people could lose 100 BTC without being worried. I have the confidence that in 20 years from today, we will also look at how much we gamble with today in terms of Bitcoin and wish we saved them rather than use them in gambling.

Don’t like dwelling in the past, i see everything done then as past .. only the future matters now. Yeah, no one know it was going to make a huge difference in just 4 cycles but i believe some actually do have more than enough bitcoin to even spare that much to gamble/ while some might just gamble it all ..  Yet, that’s if most of them are still holding today anyways, even though they might had enough then.  

This holding of a thing actually takes alot of discipline and pure belief  :)

On May 22, 2010 - Laszlo Hanyecz spent 10,000 bitcoin on 2 pizzas, imagine the price now?
At that time, Laszlo used his bitcoin as a medium of exchange ^{[money or means of payment]} without considering the potential price in 2025, as it is today. So where are the similarities between Laszlo and the gamblers who use bitcoin?

Players might consider bitcoin as a digital currency, this is not about value although back then bitcoin had zero value rather the main purpose was bitcoin is a currency. The fact bitcoin was used in exchange for goods and products most especially gambling as stated shows they care a lot about bitcoin, just few bitcoin holders had the faith concerning bitcoin value not everyone had the trust viewing the low value.
At that point where a gambler used whole bitcoin to gamble I guess they had positive intention not towards the market or the value instead generally bitcoin was just bitcoin nothing serious attached, for those who held their bitcoin definitely people never doubted bitcoin capacity till date they’re on the better side now.

Kudos and maximum respect to those heroes who had fun with millions of dollars in today's world. The image in the OP does not contain an actual date, but with the amount being used in gambling,  it is obvious that they were part of the early adopters of Bitcoin. Of course, no one had an idea of what the future would look like. Who knows what you or I would have done if we were in their shoes?. I guess this is the true definition of 'gambling for fun', while indirectly promoting Bitcoin.

I think that nobody knew that Bitcoin was going to have the price it has today from the beginning, that's why they spent it like that, since people had hope in the project, but I think that the expectations at that time were far exceeded. I don't think that anyone at that time would have believed that Bitcoin would cost more than 100k.

The awareness and value has grown beyond such thinking now, people has seen and understood the importance of bitcoin and how profitable it will be to them when holding such amount of bitcoin now compared to that time .

The future of bitcoin was not that very clear and  so gamblers seems bitcoin as the same as other currency that can be used anyhow, but right now bitcoin has beaten a lot of persons imagination in performance and so people sees it as more valuable than gold now therefore should not be spent anyhow but keep for the betterment of their future.

I believe this has always been the generational thing. When a new development is introduced at the early stage, it wont get the needed acknowledge, and price just like we see at the early stage when gold was used as a medium of exchange the same thing happened with BTC during the stage you pointed out and it is not that those gamblers back then had no idea how important BTC would be in the future. But they pay the price for us to use BTC for gambling, payment for goods and services
If they don't understand or visualize the future of BTC, why would most of them spend their time mining it or using it online?

What we see here is the price paid by early adopters. Laszlo Hanyecz paid the price of using 10,000 Bitcoin BTC for payment of physical items (pizza), and it is something that paved the way for BTC to be used for real item payment.

I don't think so or perhaps they thought of doubling their Bitcoin amount to increase their portfolio because of the speculation of Bitcoin price in the future, and unknowing to them that doubling of hustle in crypto is the greatest scam of the century. If they had known, they would have not tried it. But they where tempted to gamble just like people of nowadays are still Gambling and hoping to win more crypto and HODL. The truth of the matter is that people act according to their understanding and the value of money at the current time and not think about the future. If they can be doing things and thinking about the future, they wouldn't have been making some financial mistake. One thing now is that we keep complaining about the 100s of Bitcoin that was gambled away those day and the current value today, but we don't also consider the amount we are gambling away today in fraction and what the outcome will also be in future. What make us think that people will not still regret again in the nearest future when Bitcoin will have hit $1m? Because definitely history will repeat itself again.

A long time ago, the water was waterier, the grass was greener, and the sky was bluer. That's how you can answer the OP's question. It's equally naive, and perhaps not entirely wise, to ask whether players knew about the future value of Bitcoin yet spent it in frivolity. It's right to remember the past, but wrong to think about what could have been... I think no sane person would spend the amount of Bitcoin presented by the OP if they were told the future. We'd all be millionaires if only God had allowed us to see what lies ahead.

The annoyance I do have anytime I see how I have wasted good opportunities makes me want to go back in time but it's no possible. I don't bother myself over things I can't control, whatever life brings at that particular time, I just go with the flow.
From OP image, Bitcoin price was low back then which is why the amount was high but let's not forget that people that bet win and there were people that loss too, we don't have to focus on the loss and not look at the amount people won.

A Bitcoin is worth $114k today, I think someone will come again in the future and say people were using 1 btc to bet Bitcoin many years ago and it's worth millions, that's how time flies. If you are alive, do the one you can in your time because you will not be here forever.and if it's worry you about the quantity, used a stable coin instead. I believe there wasn't even any stable coin that period, only Bitcoin was the option for deposit and withdraw at that time.

Dwelling on the past doesn’t change anything what matters is what we do now and in the future back then bitcoin felt cheap and people used it freely for things like gambling or everyday transactions because it didn’t carry the same weight it does today those who held on showed incredible discipline and belief while others spent or gambled it without thinking much about the long term. Opportunities missed will always sting a little but they’re part of everyone’s journey no one could predict with certainty how much bitcoin would grow in just a few cycles and like you said for every person who lost bitcoin on bets or trades there were others who also won or gained value from using it in that moment it’s all perspective.

Looking at today with btc above $114k it’s almost certain that in the future people will laugh at how “cheap” it was in 2025 just like we now look back at the early days when people gambled or bought pizza with entire coins time moves fast and value perception changes with it. The best mindset is what you pointed out—do what you can in your own time instead of getting stuck in regret if holding feels stressful there are safer ways now like stablecoins which weren’t around in the early days they give flexibility without the volatility that made people use btc so casually before. At the end of the day the story of bitcoin shows how discipline patience and perspective matter more than chasing what’s already gone every cycle creates new chances and the real win is staying ready for them.

You have to change this mentality buddy. Not because you have so much in your possession you dont mind losing any amount. Nothing last forever, so learn to cherish everything you own because if you are in a position that you cant own that big you will value every penny you have. I have seen the mighty fallen.


We gamble with value of the currency not the currency alone. Back then the value of those Bitcoins used was very low. Now the value is high, people only gamble with fractions of it. And yeah, if in the future Bitcoin price hits $1M or $2M. People will regret why they gamble with the amount they did with now.

Back in those days, BTC value was not so high so people would easily bet many Bitcoins. I don't think they will do the same now especially if they see how high Bitcoin's value is. They will prefer to hodl Bitcoin or sell Bitcoin and make a big profit. Those players don't care about Bitcoin so they spend many Bitcoins on their bets. They think that they can make more Bitcoin from their winning. But there is no guarantee they can make a profit from gambling.

Gambler is only a gambler which mean they only care about how to used their bitcoin to gamble and i think basically they didn't care about the value of bitcoin in the future whether it will be so high or not because all they know is if have bitcoin then immediatelly to gamble using that coin and in my opinion they have no attention to considers bitcoin as investment asset that's why i am sure the gamblers mostly don't have bitcoin into their wallet because they didn't interested to hold bitcoin for long term purposes and indeed if we look back when bitcoin prices is still cheap it is very easy to spend 0.1 - 0.5 bitcoin everytime to gamble which if we see from the current price and probably didn't used that for gamble i am sure we have already to became an the millionare

I don't understand what you're driving at here, I didn't say someone should burn all his possessions in gambling. What happens with gambling with what you can afford to lose? Those guys gambled with few bitcoins they could afford to lose what's the big deal there? Now let me ask you this question, you gamble with fiat or usdt today is it not from your abundance that you took a few out to gamble with? Does it mean you are burning everything away in gambling? What's the difference between that and those guys that gambled with few of their many bitcoins in their possession?


Can you undo what you did in the past? What's the essence of regretting something you did willingly and derived satisfaction from. So are you directly saying that people should stop gambling with bitcoin today so they won't regret tomorrow when the price of bitcoin hit $1M or $2M in the future? People still have a choice to do whatever they want with their bitcoin that's my submission.

I'm sure that in those days 1 Bitcoin was what they could afford to loose and if they lose it in gambling it won't affect them in anyway. Today some of us can conveniently gamble with a few sats and not feel anything if we lose it but in the future when Bitcoin can reach $1m some might have regrets. If we focus on this mindset about Bitcoin I don't think that we can use it to buy anything because we will always think about what the value will be in the future. It is not a problem if you don't want to gamble with your Bitcoin, there is stablecoins and even fiat so you can continue to hodl your Bitcoin for as long as you want.

Actually this isn't the case of the mighty fallen because there was no way even 11000 BTC as at that time in value would have made the owner look mighty, and if you do your calcu perhaps it wouldn't be more than $1k. So just as the op questioned that could it be due to their I don't care mindset or an uncertain about bitcoin future. I think the worth of BTC that time made 10 BTC not satisfied to have and it would be for many today, hence the owners then had to gamble to increase the numbers.


No need of regretting. It was what they could afford to lose as at then. What about the casinos that use to dispense BTC faucets as rewards to customers, should they be regretting too?

Definitely, they had no idea at all because Bitcoin was being traded in a small community back then, and they thought it was just an experiment in online currency.
It's not taken seriously; they thought it would only circulate in a small community for a long time and would never be adopted by big companies, large institutions, or even the country.
However, I'm fairly certain there are groups that have gained insight and accumulated Bitcoin. I read stories about these people; it's essential to have insight and be among the first to adopt something new that has potential for the future.

If you talk about gambling betting using digital or bitcoin currencies, I personally first when the price of Bitcoin often places bets with Bitcoin, Unfortunately, but I never keep in Bitcoin, winning gambling I immediately made a withdrawal to USDT or Fiat, that was the problem.

I am sure here on average they place bets in Bitcoin and maybe they also do things like I do it into fiat or cash withdrawals, even though they have it maybe not for a long time, because Bitcoin will be betrayed again and there is a defeat and there will be a defeat and a defeat and there will be a defeat and there will be a defeat and there will be a defeat and there will be a defeat and there will be a defeat and there will be a defeat and there will be a defeat and there will be a defeat and there will be a defeat and there is a defeat and there is a defeat andof course.

All we understand the current price and the price when Bitcoin is cheap, but that is the problem never keeps until now, if it is stored at this time, of course the story will be different.

They actually knew that Bitcoin's value would increase in the future, but with the advent of various gambling platforms offering Bitcoin betting options, they naturally enjoyed it because it wasn't as difficult to acquire BTC as it is now. Their goal was, of course, to increase their Bitcoin holdings, but after calculating the amount they'd bet, it turned out to be quite substantial, especially considering the current price. They knew the value would increase, but once they placed their bets, they didn't care how much they'd lost.

Clearly every amount they lost was what they could afford at that time when Bitcoin was not really high in value. Imagine someone losing BTC In a day now, no matter how rich the person might be the impact of that loss would be felt. No one knew Bitcoin would increase exponentially even though some experts predicted it, not many people took it seriously back then. There are definitely those that regret losing those amounts in the past

Back in the days, it's easier to mine and get bitcoins so people don't really care at all with what might happen in the future.

But until they see how volatile it was and reached ATHs, I think that has alarmed them and for the wise one. If they have been gambling with it, that has limited them to do so and saved their bitcoins.

Everyone who's got to spend it too early have their remorse. That's the same for us, for everyone who have used their 0.01, 0.001, 0.1 BTCs and even 1 and more with one dice, one spin, one slot.

Of course, today it looks funny and hilarious, if you translate it into today's exchange rate. But at the time, it wasn't like that, so I take things in stride. Even if we were to go back to that time now, we'd be playing and making such frivolous bets very easily. Because few people thought Bitcoin would reach the heights it has today. Back then, it was like candy canes that you wouldn't mind betting and losing. I'd like to see those players today, but I think they're doing fine and aren't too worried about it.

It's pointless having regrets, you only get one life so embrace your decisions and let go of the past. If you don't then it can start to consume you and it'll only make you depressed thinking about it, that doesn't help anyone. Pretty much nobody could have foreseen bitcoin growing from being worth cents each to a hundred thousand dollars - it was worth what it was at the time. Of course anyone who had the choice to swap how they spent bitcoin in the past would trade it for the value it has today, that's obvious. Who knows, it may have made someone very happy at the time and a few people might have even increased their bitcoin holding then kept hold of it until they could cash out at todays prices.

Most of the players I used to play with were gone after the 2013 run up to $1,100.  The rest of them sold on the way to $20K.  These days I can't recall seeing any of the names I used to play with.  Some in several cycles now.  I think most of them moved on with their lives and carry regrets, but it is hard to be mad when all of them realized gains and decided that was enough for them.  Sometimes in life you can become as rich as you want to be, you just have to believe and do the right things.  Abandoning Bitcoin was not the right call, so I'm not sure I'd say those players are all doing fine, but I'm sure they got what they deserved as everyone does when it comes to Bitcoin.

At the time I entered the forum, the price was so low that it didn't reach $1,000, so I easily took 0.03 BTC and bet, if I remember correctly it was worth $50, so I didn't believe it when I read price predictions that said Bitcoin would reach $100,000 in 2025, that's because it was 2017, it was a prediction for 8 years later, I didn't even believe it, after the price rose to $20,000 I stopped playing with Bitcoin, I think that if I didn't believe that the price would rise much, then I don't doubt that other people also didn't believe that the price would pass $100,000

You are talking about events that happened 12-13 years ago, right? It is unlikely that many people plan their lives (really, not just choosing a general direction and going with the flow) even 5 years in advance. And here the time span is almost three times longer. Try imagining yourself in 2038 and guessing what will be valued and what life will be like? It is unlikely that anyone will be able to answer or even guarantee that bitcoin will even exist. Therefore, looking into the past and evaluating actions from the point of view of today is frivolous.

It seems because they have no idea at all how Bitcoin will be in the future, not because they don't care, and actually it's not just Bitcoin because Dogecoin is one of the coins also widely used for gambling, and at that time gamblers would bet thousands of Dogecoin on a single wager, which compared to its current price would be worth thousands of dollars for one bet.
The future is not something that can be known precisely, even when trying to predict it, it may not be accurate. This is especially true in the case of Bitcoin, which was truly unexpected by many of its owners at the time.

It could be possible that those people who were gambling and considered whales at the time also had investments in Bitcoin. It’s not right to just assume they were wasting Bitcoin, what if they separated what was intended for investment and what was intended for gambling?

Either way, these people were a big reason for Bitcoin’s growing adoption. It’s very clear that in the past, aside from the dark web, gambling was one of the major uses for Bitcoin transactions.

Lots of early gamblers in Bitcoin maybe don't know the value of BTC in the future. They felt it was a cheap, an internet money to experiment on, as a result betting with full coins was a normal thing. Though some may have thought of the future growth, yet the tradition was more of fun, risk, and checking out the new technology rather than long-term holding. Briefly: they were not really careless, but they didn't think of the possible growth it could have later

The question, how many people at that time who knew that bitcoin price will be something like what we see in the recent days?
If they knew it earlier, no one will be wasting their BTC on gambling as they will just keep and hold it for years but the fact is there is none who knew the future.
Some people might predicted that bitcoin price will grow but I doubt there are people who predicted that its price will reach like what it is now.

Most of them then were so skeptical that Bitcoin will not amount to the value that it has gotten to today, and some people too then didn't care, but them not caring was still on the cause that they never believed that Bitcoin will get to $120k. If only they were 100% very sure that Bitcoin would have gotten to $120k, they would not spend 160+ Bitcoin on gambling. They also didn't care because the value of Bitcoin then was very low.

I don't think they didn't care about Bitcoin's future value, and I don't think that was the cryptocurrency's initial focus. After all, they were created to be used as a form of payment for the acquisition of services and/or goods, not for current speculation. If Laszlo had known this, would he have bought two pizzas for 10,000 BTC?  :D

Of course, they must regret it greatly today, but at the time, they did what they were supposed to do: use Bitcoin as currency...

They didn't know the future value of Bitcoin and it's not because they didn't care about Bitcoin I think it's because they have a lot of Bitcoin in their possession so playing with a few won't hurt them, back in the day Bitcoin wasn't valued as it is now and they were not aware of the millions they were playing with. I have looked at the way they used Bitcoin to gamble and buy worthless things in the past and it just makes me wonder how the future works making us unaware of how valuable the things we have could be in times to come. Bitcoin's price is mind blowing now compared to the past years and these players were unaware of the future of Bitcoin.

Such a gambler who were staking huge numbers of Bitcoin back in those days when Bitcoin was worthless will actually be regretting right now if he sees how much just a single Bitcoin will worth. It will even be worse if today the person find it very hard to earn a living. This are the reasons why gamblers shouldn't be betting too much of bitcoin right now because like we all know that they price of Bitcoin will be more valuable than the amount it is right now. Many of those gamblers that spent alot of Bitcoin to gamble those days didn't know what it will worth today that was why they actually spent a lot during that time. But tight now we all know that the future of Bitcoin is more promising, so we just need to spend little of it. It's even better to spend more altcoins on gamble than Bitcoin.

They just don't care, since it was too cheap back then.  During that time no one would think that this amount would be humongous today.  All they care about is that they want to play with Bitcoin, and I think that is another way of introducing Bitcoin as currency.  Without these bets, I do not think Bitcoin would be acknowledged by other platform. 

Maybe some who bet it this way are regretting it now, but I do not think it is the right attitude.  Remember, Bitcoin back then was not that expensive, and I believe they are betting in the equivalent of fiat currency, like the value of a dollar, not the amount of BTC.

No body can spend as much Bitcoin as many gamblers did before when the value of Bitcoin was still very low, right now, people with the knowledge of Bitcoin are more of investors, holding their Bitcoin for the purpose of making profit on the long run and like you said, people already knows that the value of Bitcoin will continue to grow, so they won't want to spend all their coins for gambling.

What do you think? I remember gambling BTC when it was worth around thousand dollars, had I knew back then what BTC is going to be worth in future (i.e, what it is worth now), my hands would shiver before placing the bet.

Many of them that gambled then never imagined Bitcoin to get to this point, they all thought it would die a natural death because the give is always putting pressure on clamping down on Bitcoin the hard way so I believe with that mindset, they thought the best way to layoff their Bitcoin Is to catch fun with it so they don't lose out. Currently, Bitcoin is now much valuable than they could imagine and I believe majority of them that gambled away their Bitcoin would be living in regrets now because they never believed in Bitcoin to get to this height it has achieved.

Same here, I remember my bankroll back then is above 10BTC while my minimum bet that time is 0.001BTC then I martingale it until I bet a whole Bitcoin and above.

I reach high level on Bitsler back then with a huge faucet claim per hour due to my wager until Bitcoin pump hard above 1K then it continuously rising to 5K, 10K and 20K that makes me already realized how valuable Bitcoin to be gamble.

It's very obvious mate that those early gamblers didn't know that the value will go thousands fold and they don't care about it. And that is why we said that gambling is the first use case of Bitcoin because of this.

And we it followed with giveaways and captcha solving that  give from 50 to hundreds of even thousands of Bitcoin.

But that is the our rich history, it's good to see and look back at this kind of stories. Maybe we can just laugh it right now or those who are involved early might regret it. However, no one really knows what the future hold and so we just move on with that and then just save as much Bitcoin as we can.

Most of the players and users back then had no real clue about the potential future value of bitcoin at that time bitcoin was not widely recognized as an investment but more like a digital token you could use to play around with gamble with or experiment on new tech ideas people were more excited about the innovation of peer to peer money than about how rich it could make them. If they had any serious foresight about it reaching the kind of prices we see today they probably would not have been so casual in giving it away through faucets using it for small bets or even losing it on simple websites for most it was just an online novelty something they could earn easily and spend just as easily so they didn’t care much about long term value.

This is also why gambling is considered one of the very first use cases for bitcoin it provided a real way to transact instantly without banks and that gave it purpose even before investors came in later giveaways captcha solving and faucets that handed out thousands of bitcoin now look insane in hindsight but back then it was nothing unusual because nobody could predict that one coin would be worth tens of thousands of dollars. Today these stories serve as both history and a lesson we can laugh about how much was “wasted” or feel regret about missed opportunities but ultimately no one really knows what the future holds the best approach is not to dwell on the past but to learn from it and to treat the present seriously we may be living in another moment people will look back on years from now wishing they had accumulated more bitcoin when it still felt accessible.

It's not don't care, but if keep thinking about its current value, they will stress out and continue to regret their decision to gamble with bitcoin in the past. Back then, the price of bitcoin was not what it is today, so it's better to just forget about it. I'm sure no gambler was thinking about the future price of bitcoin at the time, they gambled because they wanted to do it for entertainment (including me). I forgot and don't know how many bitcoin were bet in the past.

I remember back in the day, getting BTC was super easy from faucets. Some gambling sites even gave out free faucet claims, like 1-5 BTC every time. Most people betting with BTC never thought it’d get this expensive or have such a bright future. They just wanted to grab free BTC and double it by betting. So no one really regrets losing a few hundred or even thousands of BTC back then. But if those folks are still hanging around this forum, I bet they’d feel some serious regret now checking their old wallet histories.

That's absolutely true, many of them really thought that Bitcoin will just die off without them using it to benefit anything and since it was beneficial in using it for gambling, they started gambling with it and having fun. Many of them will regret it today if they look at their old wallet to see the value of Bitcoin they have spent for fun showing a great value in negative.

They might not know, or probably they were not just thinking about the future then; instead, they were all focused on the fun and the present value attached to it back then, which is what they will be calculating and rating their bet on and not how we are looking at the number of Bitcoin they spent on gambling. Bitcoin was very cheap then and easy to earn, not like what we have now.

Those who gambled with their Bitcoin holdings in the past are now regretting those things. But those who chose Bitcoin currency to make a deposit and bought Bitcoin with their money and deposited it for gambling do not regret it because they used their money for gambling and not Bitcoin. But I don't think all those people who love holding Bitcoin have gambled with their Bitcoin holdings.

Because those who think about holding never use their holdings for anything else. Especially Bitcoin holders will never use their Bitcoins for gambling. So I can't imagine what the value of Bitcoins to those who used them for gambling is today. Because they don't think about Bitcoin, they think about their stablecoin.

Back in college, we used to gamble some.217 Bitcoins for fun. We didn’t know how valuable it would become.
I even used my girlfriend’s Bet365 account to place bets
Looking back, it feels crazy — Bitcoin is worth so much now.

Now, I want to do something smarter with Bitcoin instead of just betting it away.

Maybe he knows that BTC had some potential because why he engaged on it at the first place? And maybe he is only using BTC for its original purpose which is a medium of exchange. Laszlo brings a good contribution on Bitcoin, so I don't know on why some people are still harsh about him. On to your last question, I won't say similarity but rather say difference. The only difference is that Laszlo is not a gambler.

In fact, I already saw some insane predictions before for Bitcoin. Maybe some can be trippy only but there may also be some that mean it and actually sold on their target price or are continuously holding even up to this date. Another reason on why they can spend too much of Bitcoin before, is because the value of one Bitcoin before is only tiny.

Yes that's true, many of them would regret their actions then as they never trusted the system and followed the process to see the end of it. Many reckless and careless mistakes are now resulting to regrets. This is why it is good to always have an atom of patience in you to always trust a process and to also see it to the end what it offers.
I know there are lots of wallets which held huge volume of Bitcoin early years of Bitcoin inception but they never trusted the process but were in a haste to do away with it because of the government troubles and today I believe they would be looking at those wallets in regret and wishing they never used all of them.

The players just played as they do today regardless of the price of BTC. Many of us used BTC as currency when it was only worth a few hundred $ and there's no point in regretting it today, because the thing is, there's no point in keeping it forever. If the players thought like that, then today nobody would use BTC on gambling sites, because in 15 years the price of 1 BTC will be maybe 10 times higher.

For me, I wouldn’t really regret it if that’s the only increase it reaches. It’s nothing compared to the past, like when Bitcoin was just $1 and now it’s $125k, that’s a crazy multiplier. You can’t really compare what happened before to what will happen in the future.

And honestly, regret isn’t necessary because it just makes us stuck on past mistakes. What matters is we still have more opportunities ahead. Maybe Bitcoin won’t give that same massive profit anymore, but who knows, there are altcoins now that are worth less than a dollar and might hit $1k someday.

Sure we don't really have to blame those that gambled with thier bitcoin as at then because they never imagined the price going this far, the truth is Alot of folks was mistaken bitcoin for meme some shitcoin which is why they were moved to use thier bitcoin to do whatever. I could imagine the feeling when you don't know the future potential of a coin you will just see it very common, not until you sold it and then come back the following year and see that there are Alot of changes in the coin then you will start regretting why you sold it earlier. and yeah, this mistake is very common among people, I believe those who are victim of this would learn thier lessons.

If most people could predict the future when Bitcoin was $1 or even $100 I don't think it would've been used for gambling cause nobody would've want to lose an asset they know would grow from $1 to $125k the risk is too much, maybe only high risk takers with lots of Bitcoin would've risked gambling with some portions of it back then.

 Anyways the deed has been done and those who lost their Bitcoin to the bookies need not to regret but look for more ways to increase their discretionary and invest more money in Bitcoin cause the price could be more than what it is currently in the next 15 years.

Then most people never believed Bitcoin would come this far, and they spent money on many things that, if they had invested in Bitcoin, would have yielded huge returns for them by now. Another thing is that it is not as if those who gambled with 1 BTC were careless when it came to money.

The value of Bitcoin was very low back then, and I'm sure the value of Bitcoin is an amount that most people can afford to gamble with. But there is a lot to learn from those who gambled with 1 BTC then. As a gambler, don't put all your focus on gambling; as you gamble, also remember to invest because there is a future to live in after all the interest in gambling might have gone.

The days when the price could increase xx times in just one year are far behind us and this is one reality that people should accept. In fact, when it comes to crying over spilled milk, I have no doubt that there will always be those who will cry because today they bought something and paid with BTC, or gambled with it instead of keeping it.

However, I think that today there are many more who want to take their profit after years of waiting for the price to reach $100k or more, and therefore there are also those who are happy to gamble with their coins because it is easier, more comfortable and they feel in control. Anyone who has ever used BTC as currency knows it feels good.

That's a good point you made there about investments...it's true that most of them that misused their Bitcoin on gambling didn't know it would get to such a high amount but it didnt stop from saving whatever they know has potential for them to get something in the future ..even presently with the value of bitcoin and some altcoins some gamblers still use them to gamble forgetting about their future

I do not see any reason to even sit back and think of the price of bitcoin from then till now and have to regret about using it to gamble because if we are been true enough here, the chances that these persons would have held their coins from that time till this day is so slim that it is almost impossible, they would have spent it on something else or would have sold it when Bitcoin did got some few thousand dollars, so either ways they would have lost it only that in the later case they would have used it to achieve a very tangible something for themselves.

It might amaze some people that gold was also used for gambling a long time ago. Since antiquity, in some civilisations, gold has been used for betting on different games such as wrestling, hunting,.etc. The reason for that was that gold was available to almost everyone and the value was not high. This was also what happened to Bitcoin at the beginning. It was easy to have access to hundreds or thousands of Bitcoin, and many people felt it was good for gambling. 

I don't blame them either because nobody can predict the future. Some people kept their not because they knew Bitcoin would rise, they were just fortunate to keep hodling.

Let us put it this way - at that time, it was just like a play money to most, a new digital currency without much of value in the market. Of course, if they already had that notion that btc will like be more than gold in value, do you think they will just spend it carelessly? Or will forget where they stash those BTCs?

Do remember, in the early days of crypto, we used to collect those satoshis via faucets. A lot of faucets were offering like every minute or every hour of those coins, not only satoshis. I remember collecting thousands of satoshis not only from one faucet but a lot. That was way back then. But now, just look at freebitco -offering 1 sat every hour, where way back, it offered thousands of satoshis per claim. So no wonder why gamblers used BTCs just like that.

i think currently it’s good to ponder about these things and think about how far bitcoin has come since then someone mentioned about gold being used the same way before and look at it now, it’s hard not to think that bitcoin will end up like that too