Happy Bitcoinween everyone!

My costume will be a Bitcoiner. A bankers worst fear.

There are almost what, 8 Billion people on earth? Not accounting those part of some lost tribe who do not have internet and live in some backwoods area with absolutely 0 contact to civilisation, I would say we definitely have not even seen the beginning of what price Bitcoin can reach. But Bitcoin is slowly but surely becoming adopted worldwide by everyone and at some point I truly believe it will become the one and only global money. So 1 million per Bitcoin is the smallest estimate I can give you. I don't doubt it will go beyond even that. Only time will tell though.

I think most people here have the mental ability to quit whenever they want. However we should not say that lightly since there is a considerable amount of people who happen to have huge addiction problems when it comes to gambling and cannot just up and leave when they want.

Losing or winning any amount of money has shown in the past to not be relevant when it comes to wanting to feeling just another rush from the risk of losing or winning money in some gambling game. So I really doubt that will convince most people to stop. Even millionaire winners seem to always come back to gambling.

As far as wives go... Well. That might be an effective way to stop gambling when your marriage is on the line.

Well, seeing as you are asking this kind of question in a forum dedicated to users who invest in cryptocurrencies, especially Bitcoin, because they know them to be the future, I would say most of people here would invest a large portion of their winnings into crypto. At least, that is exactly what I would do. And since I gamble with crypto in the first place, I would not even have to do anything other than hodl in order to achieve that.

A part would go to my family. I would buy them everything they need, obviously. I mean whats the point in having money if you don't spend some of it to improve the lives of the people you love?

Not sure about the 3 other things I would do.

Congratulations on your very nice winnings! 10.5k profit is really nice but since your winnings are so large I would wager a guess that your bets are also quite grand. I feel like you might be leaving out the amount you lost when before that :S But I do not want to bring your mood down, so I will just say congrats.

I also applaud the incredibly smart decision to step away from gambling for a while so you can cool down from the excitement of winning that much money. It would be in human nature to continue gambling because you "feel" as if you are on some sort of "lucky streak". And consequentially losing all your money by doing so. I know thats exactly what I would do in your position. :S

I have been seeing Dogecoiners absolutely giddy about Elon Musk and over whether he will integrate Dogecoin into some Twitter-profit-scheme. This has led to a superficial pump in speculative nature. Why do people believe that Elon is not going to simply drop Dogecoin in the future?

Lets take a look at a similiar memecoin and its history:

Shiba Inu.

SHIB is in the top 13 on CMC and must therefore be a good investment, right? Wrong. It's trading at less than 15% of its ATH and is barely surviving.

Remember when it first came out? The idea was to do what most shitcoin devs were doing at that time and send most of the tokens to the wallet of a famous personality (Vitalik Buterin) in order to prove that the SHIB devs could never rugpull their investors and crash the price - they thought Vitalik would never touch SHIB as if there was supposed to be some unspoken, sacred bond between him and this ERC-20 token. Nobody expected Vitalik to donate the shitcoins/memecoins sent to him and crash the markets. Yet he did. Not all of them. Nonetheless the concept of a rugpull-proof memecoin failed. Vitalik did not care about the value of SHIB or the investors of SHIB. And so SHIB crashed and today has yet to recover even a fifth of its ATH price.

Now we have history repeating itself. Except this time with Dogecoin and Elon Musk as its only pillar of support.

I believe Musk is an egomaniac who only cares about the attention he gets from doing things like buying Twitter, making unsustainable cars or half-baked self landing rockets. He is just a bored multi-billionaire who wants more attention. Do people really believe DOGE can survive without Elon Musk backing it?

I for one will not be wasting my time or money just because some useless memecoin did what all cryptocurrencies do every now and then by pumping a decent 50+%.

Congratulations on your very first purchase of Bitcoin! Remember not to make the mistake of selling out of panic, as you will definitely feel a bit scared whenever we have gigantic dips or pumps in price. And do not trade too often (if you are considering day-trading), as those trading fees can grind away all your money before you notice it. Those two things (emotional trading and trading too often) are really the biggest traps to watch out for.

If you ever need help or information feel free to post in the correct segment on this forum and we will try to help you out as much as we can!

Other than that, have fun and welcome to the world of Bitcoin!

I would probably split the prize and walk away with a decent 0.05 BTC. Anything else seems a bit too greedy and somehow feels like it would go wrong. In fact, if you were to use that 0.05 BTC to keep gambling, why on the same game? You could easily win more if you played it smart.

But this thread does raise the question of how much is considered a non-risky amount? At what point does splitting become a better option?

That probably might be different for everybody depending on their financial status such as their income and their capital. If I were a millionaire, I would not care about losing 1k. I would probably keep going and reroll.

Honestly after spending years in this forum, 90% of all scam accusation posts made here on the gambling subforums is just people wanting to vent about getting caught breaking the rules and facing the consequences. It is quite tiring but understandable. I would probably want to vent to if I lost my account/money. I would think its best to just follow the rules, though. That way you can keep playing without having to worry.

Although I am still very much against having to store your money on a third party wallet on some gambling website. All gambling should be decentralised. Otherwise who knows when some gambling website decides to go rogue? It happens. Rarely. But it happens.

You're right. A pre-loaded wallet is a bad idea. But asking someone to make a wallet and sending coin to that wallet would still be a better teaching experience.
One could argue that it would be better to give them the incentive to learn more about Bitcoin, Blockchain and how to make a wallet and send Bitcoin to that wallet for themselves. It would definitely suit the ultimate goal of adoption of Bitcoin better to have informed coiner newbies rather than coiners who only know how to use Bitcoin through third party apps and third party wallets. It would definitely help them out in the long run and learning by doing is really the best kind of learning.

But yeah, unless they transfer the coin to a new wallet there would be a security risk. Again, something the Bitcoin newbies should learn for themselves. But that's just how I think about it.

I am happy to see people trying to find different ways on to use Bitcoin and how to spread that coin happiness to others. So kudos to you!
However you must forgive me but your proposal seems like a lot of mental gymnastics to come to the same result as giving someone the seed phrase to a wallet with the gifted Bitcoin on it?

Either way they will have to download either a wallet, or on this case, your app? And you do not need KYC for Bitcoin wallets so that argument makes no sense.

Really anything they want to do they already can do without your app. Perhaps your apps use case should be that it simplifies the process? So instead of going to multiple places to do things with their coin (trading, buying amazon giftcards, etc.), they can outsource it all to one app?

99.9999% of the people claiming to give trading signals in return for paid subscriptions are scammers who have no idea what they are doing but they pretend like they are making a lot of money. If they truly made so much money with their trading, don't you think that they would not be asking for money from strangers?

I would suggesting staying far away from these "influencers" who offer something in exchange for your money. Its never worth it.

The only way to make money trading is by learning how to trade. And if you need to practice then there are money sites that offer dummy-coins on a dummy-exchange that you can practice with. Or just do thought-trading by looking at charts and documenting your "virtual" trades.

When you feel certain enough that you can make money, then and only then should you trade with real money.

I would not say that Martingale needs huge capital to begin with, as long as you choose a game with the lowest bet-in and scale your funds to that bet-in. So in reality, you could scale down to pennies if you wanted to and the Martingale strategy would, mathematically, still make just as much sense as with larger bets. However if that would be profitable is an entirely different question that I cannot really answer. Maybe over a very long period of time? Perhaps it would become profitable.

However bad luck will always stand in your way no matter what kind of strategy you wish to deploy. Really thats the main argument for not using the Martingale strategy in the first place...

I think at the point where gamblers sell their assets and properties is way beyond the point of simple panic. The panic comes immediately after losing. In my experience if you can hold out the panicky feeling without trying to win your lost money back by doubling down then that panicky feeling settles down and you feel alright again. Or if you are out of money that you have with you at that moment, same result.

The people who take out their assets and properties belong in a different class of panic-gambler. I think. As they do not calm down, even days or weeks after gambling.

I would not be so hasty in listing which countries have made gambling legal or illegal. Because the truth is, in every single country on earth, gambling takes place. Whether in a grey area or in a illegal black area of the law, it still happens.

Lets take a look at Japan, as an example:

Japan officially declared gambling as immoral and illegal, however despite all that the Japanese gamble. How? They simply do not gamble for "money". But rather "tokens" which can be exchanged for something worth a lot of money. For example gold. And that later gets exchanged for actual money. They do this in front of the authorities and everyone knows that the gambling laws are just a big sham that do not work.

China has a lot to lose if they would allow even a smidgen of freedom for their people. Once the Chinese people get a taste of freedom, especially financial freedom through cryptocurrencies, they will definitely want more. And this is completely contrary to the ruling party strategy of controlling their people down to the tiniest detail. So obviously they will do everything in their power to prevent this. Not that they can, fully, with crypto. At some point the "ban" on cryptocurrencies will show cracks and more and more information will leak out about the world adopting cryptocurrencies. They cannot stop it.

All they are doing is prolonging the inevitable and losing out on profits from taxes.

The two worst things is in order of hating on it like crazy:

1. Getting asked for KYC when withdrawing winnings or some other nonsense stalling strategy which the online gambling casino is using in hopes that your money will be forfeited to them.

2. Bad user experience design. I absolutely hate it when the user experience is made as if by a toddler. Nobody knows which button does what and where you have to figure out everything as if learning a new language. And if they make the entire graphical design so awful it actually drys out your eyes in seconds just by looking at their site.

There are other things I would want to rant about, but those two things are the worst. At least for me.

I do not think its a good idea to train yourself to bet for social media clout to become popular.

When it comes to betting, there is no such thing as "the most popular" way to bet. Its just not possible because the only thing that decides if you win money or lose money is luck. Or more clearly said, mathematical probability.

The probability of winning in the lottery or sports betting is much lower than winning in simpler games, such as Blackjack. So this might be "most profitable".

But either way, you should not go into gambling with a "I am doing this to make myself a social media star" mindset. You are only setting yourself up for failure and catastrophic, emotional betting after said failure.

I think if more traders decided to do their trading with a business mindset, as OP mentioned, then we would definitely see waaay less emotional decision-making that ruins lives of traders because they got too greedy and too fearful.

It is quite understandable. I mean just look at the altcoin traders. For example, Luna. Anyone who was not quick enough to back out lost everything to that shitcoin scam. But then again, anyone who makes bad investment decisions is not going to be interested in serious trading in the first place. At some point trading becomes gambling. Which almost always ends badly.