I have just under 1BTC and need to make about .1-.2 more. I have stuff to sell, but I am thinking about using martingale on PD. I don't know if I really should though. If I did, I would martingale with a base of 10k sat.
Thoughts? Could you present some findings why it would be a bad idea? Alternatives?
What is martingale? Is it some betting strategy? Can you please explain, more or less, how does it work?
I might try it too.
Thank you.
So martingale is a strategy you can use on a few gambling games. It's used a lot on dice. So the way it works is like this:
Bet a low amount. If you win, continue betting that amount. If you lose, double and bet. If you lose again, continue to double up and so on. If you win, return to your base bet. This works in theory because your win will cover any inccured losses, and people think it is unlikely to lose many times in a row. The problem is that events are independent, so the chances of winning is the same as losing. Basically:
WLLLLWWLWLWLWWLLW would have the same probability of occurring as LLLLLLLLLLLLLLLLL
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. I shall find a reference post!
