Gambler's fallacy. Doesn't matter whether your bet is 0.00001 or 0.1, the odds are the same of losing. "Prebets" are absolutely worthless statistically.

Best strategy if you're gambling: bet all your bankroll on whatever payout you want, but do it once and leave afterwards.

The more you bet, the more you lose [statistically]. Hence, you go all-in with what you're willing to lose. As you bet, the house edge clips winnings from you until you go broke.

Best strategy: don't gamble

Name: actmyname
Rank: Sr. Member
Post count: 1039
Slack username: actmyname
Bitcoin address: 1ActBTCi5XUMjqnyFxVWgSfE5xWicj8g3o

I look forward to your judgement.

Let's add some more to the table:

ImHacked's Recent Posts are filled with one-liners.

Fraxinus's Recent Posts are much of the same.

Looks like Betcoin.ag finally changed the "Last updated" on their ToS.

I'll go for 0.1 at 9%. Let's undercut!

(Expecting by July 8th, 0:00 UTC)

I too, bet on Wales, but towards the 88' mark I hedged on a bet for Portugal winning 2:0. Still lost some on that game, but managed to win some coins for a net profit on others.

Do you think someone with 10 alts would care?

The answer is no.

Only Gambling? What about:
Economics
    -> Speculation
Bitcoin Discussion (there's still some crappy threads)
Auctions (useless replies asking for information 5 times)
Mining (yes, some ignorant people have found a way)
    -> Mining speculation
Service Announcements
    -> Micro Earnings (oh god no)
Service Discussion (some reply saying "oh x is good because the design looks nice"
Off-topic (which is just a goner)

And that's where I'll leave it off. Those are the sections I've seen the most bland replies and topics.

Zoom out

If you're desperate enough, you'll just spam with accounts. Takes no effort and gets you earnings. Why wouldn't you run as many alts as you can?

I'm glad you managed to win this bet, but unfortunately this still only leaves you with 136.2 mBTC left. Your bet on Gorodeja v BATE ended with losing 200 mBTC.

You're at less than 10% of what you had a week ago. Seriously, going all-in like this is going to have you end up at 0.

Seek safer ways to invest? I don't know. I'm only sure of one thing: don't do gambling strategies to attempt to increase your wealth. No matter how great they seem, they always have the exact same return value of 0 eventually.

Just wait, then. Statistically, it takes 100,000 rolls for you to reach a loss streak provided that the house edge is zero. With PD's 1% house edge though, it takes 99501 rolls to [statistically] arrive at 5 losses in a row while it takes 1,000,000 rolls to actually double your initial deposit for safety.


In fact, instead of succumbing to the house edge, you might as well go all-in on your deposit to theoretically save more money [since you plan on doing this for a long time]

It works until you lose your deposit eventually due to the house edge. Unless you have an infinite bankroll, you're going to lose at some point or another due to a long loss streak. This is basically just a martingale system with 1.1x which succumbs to losses quickly.

"THis guaranteed works guys" is the worst lie in the face of mathematics.

In fact, even without a house edge, the variance could make you lose on a streak regardless.

How do you imagine that it [gambling] would bring down the price? That would only be in the instance if the coins were to be dumped, and if satoshi wished for that to happen, then of course that would've happened a long time ago. That, or satoshi held the coins to wait for a higher price or for bitcoin to be used at the point where it's feasible to live off of it directly.

Neither of those options lead to a price decline.

I'm not so sure. Everyone has thoughts that the price will double (or at least a large part of the loud demographic that's posting here) and I expect that that's all they're going to be - thoughts. Not many here even have 1 BTC, and so I doubt that much action is going to be caused through the hype, but rather wealthier parties. However, the halving does not signify a price boom. In fact, the effects were already felt [at least by some degree] in the months leading up to it. I don't expect a large jump in the price. Perhaps a 5-20% increase, maximum, from what we have right now?

But who knows? Markets can be unpredictable*

That's all they are - estimates. It's only a simple algorithm based on the "post quality" which is based on average characters per post, the amount of posts and activity, and some other factors that don't matter as much as if you were to review the account yourself.

Wait, so this "giveaway" essentially involves you not actually paying anything and in reality it's just a lottery system? That's what it seems like is happening right now.

I mean, at least it's the bustabit game, though without a visual it's kind of boring (albeit I do enjoy the 0.5% h.e.)

Imagine what happens if young children become addicted to gambling. They might start using money from their parents, perhaps even get their families into financial trouble. It's just like normal gambling but likely even more volatile than with adults. Their self-regulation is not at the same level as matured people.

You shouldn't allow them to gamble just because they are able to. You should attempt to prevent the problem before it comes, or else it's too late.

Everybody states how they will sell their coins, but well before the price reaches $1,000,000, there would probably be a large amount of merchants accepting bitcoin due to its popularity. Why sell what you can use directly? Either bitcoin is used worldwide and is the top currency or everything else has inflated to such extremes that bitcoin is the only reasonable option in the event that the price reaches that high.