I'm not sure that's really possible.  Bitcoin addresses are hashes of public keys, which are created from the private keys.  You can generate the private key from a passphrase (so called 'brain wallets'), and derive the corresponding public keys and addresses from there, but I don't see how you can generate an address or a public key from a passphrase without also having the private key be derivable by everyone who knows the passphrase.

Looks like he pretty much broke even:

Are you holding the majority of customer deposits in an offline 'cold' wallet, to protect from hackers, etc.?

It's surprising how quick the bet size increases when you're doubling.  I was aware of myself rushing to bet as quick as I could so I wouldn't have time to stop myself.  And also aware of how stupid I was being.

I got lucky, and really hope I can hold on to my winnings.


Isn't that exactly the right time to stop?

I'll post an updated graph once the script finishes running, in an attempt to get us back on-topic. 

That's not how it works at betfair, as far as I remember.

If I try to back at 1.51 for $0.01, then there will be $0.01 exactly available to lay at 1.51.

The stakes get matched exactly.

Your exposure changes though, which I guess is what you were displaying.

I think I was prepared to go up to the maximum bet.  Even if you have lots of coin you still run up against the house limits eventually.  I was only 2 doubles away from the 250 BTC max (which is why I started at 0.122 - it reaches just less than 250 BTC if you keep doubling).

I've often posted logs of silly martingale sequences in the past, marvelling at how anyone could be so foolish as to keep doubling their bet over and over.  I never before experienced it first hand - until now.

I was physically shaking as I entered the last couple of bets.  I've never before bet over $600 on the roll of a dice.  I got lucky, and really think I ought to retire from this game now.  It's quite a buzz, but too dangerous for my liking:

Available to back Man City:

5.4
(0.00227272727273 BTC)
1AthfWf966g3jgAbytSposbzPdWYWgfgSR

I don't know where you're getting that number of BTC from, but BTC is only divisible to 8 decimal places.

I get the impression that people are tired of all the scams that have been happening recently, and so don't want to be sending coins to yet another anonymous newcomer.

Maybe that's just me though.

I just tried a cash-out to see how well it worked.

I requested a withdrawal of 132 chips.  It told me it would take a couple of hours, but when I looked at my bitcoin client the payment was already there.

Very impressive - it couldn't have taken more than a minute.

Looks like it has been paid out now.  Enjoy your 8 cents. 

You're welcome.

A while back somebody asked whether anyone had ever rolled a 0.  I found a bunch of examples of people rolling zeroes.

When you look at the 'details' page for a bet that rolled 0, you see a weird animation of a monkey wearing a human mask.  It's kind of creepy.  

Edit: found the post and an example 0 roll.

Savings and Trust?

Or, 16*16*16*16.

Or, 256*256.

Etc.

Thanks for having the courage to put your money where your mouth is.

Hopefully the strength of your conviction was enough to keep at least some suckers away from the scam.

It looks like the usual SD bug.  They think they've paid you out, but the transaction they used to pay you out was invalid, since it depended on an input that never confirmed.

It'll get fixed when they get around to it.  I guess fireduck's recent fix wasn't sufficient to nail this bug completely.

The 'lucky number' is pseudo-randomly chosen between 0 and 65535 inclusive.

There are 65536 different possible values for the lucky number.

When you play "lessthan 1" there is 1 chance in 65536 that you'll win.

It pays out 64000 times your bet.

When you lose, they pay out 0.005 times your bet.

From this we can see that the expected payout per bitcoin bet is (64000*1 + 0.005*65535) / 65536, or roughly 0.98156 BTC.  That's an expected return of 98.156%, as stated on their home page.

I made a few SD bets about 12 hours ago.  All of them were returned (win or lose) within a minute.

The site regularly has problems with bets "freezing" and it often takes several days until they get fixed, but they always seem to get fixed eventually.  Here's an example from the last time it happened, a week or so ago:
  https://bitcointalk.org/index.php?topic=77870.msg1184962#msg1184962