martingale odds?

[miffman]

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?

[fast2fix]

damn say NO to gambling you'll probably lose your 1 bitcoin for trying to make .2 lol

[you]

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.

[Remember remember the 5th of November]

Your odds? 100% loss odds. I have martingaled before, from 0.00001 to 1.20 btc loss, after I had a consecutive 16 streak loss.

This is why people call it martinfail.

[miffman]

Your odds? 100% loss odds. I have martingaled before, from 0.00001 to 1.20 btc loss, after I had a consecutive 16 streak loss.

This is why people call it martinfail.

Shit! Thanks. I needed to hear something like this. Sorry about your loss.

[fast2fix]

i think you should buy peercoin it might be pumped because of nubits ann..

[Katekyo]

i think you should buy peercoin it might be pumped because of nubits ann..

Or better Darkcoin, as RC5 has been a success.

[miffman]

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

[miffman]

i think you should buy peercoin it might be pumped because of nubits ann..

Or better Darkcoin, as RC5 has been a success.

I don't wanna get involved in alt currencies again. I lost over 2BTC already.

[Katekyo]

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

I sometimes do that with autobet. But I always use the money from their free faucet. Once I went from 600 satoshi to a little more than 10000 satoshi, but then it started loosing till 0...

But, anyway, I keep trying.

i think you should buy peercoin it might be pumped because of nubits ann..

Or better Darkcoin, as RC5 has been a success.

I don't wanna get involved in alt currencies again. I lost over 2BTC already.

Sorry to hear about that.

[miffman]

Yeah I try to martingale my way up to the minimum amount for withdrawal. I'm thinking it might be easier to do with dogedice, but obviously it will take long to rack up any real value.


And thanks

[1Referee]

If you need some money then don't gamble and risk the money you already have.

Sell some stuff, better option  If you want to continue with the gambling thing, then good luck