New to Bitcoin, lost nearly all of initial investment on SatoshiDice :(

[mitchfultz]

Hey all,

My name is Mitch and I'm new to the Bitcoin scene.  I heard of Bitcoins after reading an article online about its success and decided they would be better than leaving my money sit in a low interest savings account.  

I'm a college student at an elite University and am already beginning to be swamped with student loans so I thought it would be a good idea to 'invest' the money I earned from my work study job into Bitcoins.  I planned on holding on to them and selling them at a later date when I needed to make payments or when the market made it seem like the correct time to sell.

I purchased my coins through MtGox and then stored them on blockchain.info and all was well until I saw the 'Games' tab under send money.  I began playing SatoshiDice and in what seemed like a second I had lost my initial investment of $800-$900..  

What do you guys suggest I do to try and get at least some of this money back?  I understand SatoshiDice was not the best idea and I should not have 'gambled' my coins away.

I am up for any advice as to how to proceed from here.  I don't like to ask for help but lacking the knowledge some of the veterans around here have I have no choice since I lost nearly all of my money I had saved up.

Am I, to put it simply, screwed?  I hope there is some way to recoup what I have lost; in any way.  I have a powerful laptop, free electricity, and free access to Internet that showed to be faster than 99% of all other tests performed, according to speedtest.net.  Mining on my Nvidia GT540M graphics card seems pointless, and although my CPU is great mining with that is out of the question it seems.

Thank you all a ton for whatever advice you can give me.
I believe my Bitcoin address is in my signature if anyone cares to donate.  That'd be great to build my spirits up a bit, but only do so if you can afford to do so, I do not want you in a tough situation as well.

Thanks again, Mitch.

[DeathAndTaxes]

I hope there is some way to recoup what I have lost; in any way.

No.  Future actions don't change the past.  The money you lost is gone.  Even if you were able to mine (or work, or trade) and generate a profit you would have been able to do that even if you didn't lose the money you lost. 

It is called gambling for a reason. 

I have no choice since I lost nearly all of my money I had saved up.

Of course you have a choice, you have a choice to not beg. 

[sal201987]

Hey man Ive lost plenty too, it can be addictive just hang in there and don't play with anything you cant afford to loose.. on the other hand i have stock in satoshi dice so everyones loss is my dividend  

[twix]

Of course you have a choice, you have a choice to not beg. 

Ouch

[battmann]

Well besides investing in a gambling rehab center; you could join my mining pool on triple mining. Message me if you don't know how to set up your computer to mine bitcoin. Its not gonna be fast, but it's better than nothing. Also you could go to www.getfreebitcoin.com and join the raffle/use the sites listed to get small amounts of BTC free.

You could probably get enough to win some of that coin back on satoshi dice 

[Raoul Duke]

So, what do you want exactly? Pitty, bitcoins or money?

[battmann]

So, what do you want exactly? Pitty, bitcoins or money?

psy you're like the Maddox of BTCtalk. 2006 Maddox; don't worry its a compliment.

[Bitobsessed]

Gotta be honest here, this just sounds like a troll to put a bad name on Satoshi Dice.  If not, well, you need a lot more college.

[Mike Christ]

Gambling's bad, mmkay

[zeocrash]

That money's gone.
I'd put that one down to experience, that pure luck based gambling isn't a good investment.
Next time you buy some bit coins for the long term, lock them away. If you can't do that then you should seriously consider gambling rehab.

Also until you have some experience in something, don't go investing your life savings in it, especially in something that's essentially pure luck.


Hope you have better luck in future

[mccorvic]

SD SHOULD BE BANNED! SD SHOULD SEND THIS GUY ALL HIS COINS BACK!

But seriously, the best thing you can do is to provide a good or service in exchange for BTC. 

[MysteryMiner]

Mining on laptop is not worth in long term. The laptop does not have enough mh/s to make 900$ of coins in reasonable time and also the additional heat might accelerate the death of GPU chip or mainboard. But if You have desktop computer with dual HD5870 cards and free electricity it can be a reasonable way in long term to get the coins back trough mining.

SD SHOULD BE BANNED! SD SHOULD SEND THIS GUY ALL HIS COINS BACK!

An Silk Road must be banned too, right? How technically it might be possible to do? He lost his coins in gambling because of bad luck or stupidity, what the SD have to do? Some people have big wins there. SD is the most transparent and honest way to gamble that I ever seen.

[wtfvanity]

SD SHOULD BE BANNED! SD SHOULD SEND THIS GUY ALL HIS COINS BACK!

And Vegas should be shut down! And Poker Stars! And the horse track! And slot machines should be banned. Call your senator today.

But seriously.

Buy another $800-$900 of bitcoins. What are the chances you'll lose it all twice? 

[Raoul Duke]

So, what do you want exactly? Pitty, bitcoins or money?

psy you're like the Maddox of BTCtalk. 2006 Maddox; don't worry its a compliment.

Still don't understand what you mean with it.

In case you're wondering, if the dude's looking for any of those 3 things, then he will get none of them from me

[battmann]

So, what do you want exactly? Pitty, bitcoins or money?

psy you're like the Maddox of BTCtalk. 2006 Maddox; don't worry its a compliment.

Still don't understand what you mean with it.

Maddox? Holy hell...hold on let me link you. The new stuff is meh, but the replies to hatemail and older posts are golden.

http://maddox.xmission.com/

[MysteryMiner]

Buy another $800-$900 of bitcoins. What are the chances you'll lose it all twice? 

The same chances as with first batch of 900$ of coins. http://en.wikipedia.org/wiki/Gamblers_fallacy

[boozer]

Buy another $800-$900 of bitcoins. What are the chances you'll lose it all twice? 

Either he will lose it all or he won't... so 50/50?   

[thefiniteidea]

Seems like this guy has more than just gambling problems:

https://bitcointalk.org/index.php?topic=146243.0

We donated an entire thread to this BS already...

Aight so that title might have been a bit missleading, but I have some thoughts here.

I have NEvER ever gambled in my life earlier, well that was until I discovered bitcoins.. To me it seems as if bitcoins might be a kind of gateway to gambling addiction.

It started not long ago when I got my blockchain wallet. I was going to send some coins and all of a sudden I saw "SatoshiDice" under "Games" and though woot is this. So I pressed it and saw a cool interface with odds and so on. I had some coins so I bet 0.01 on different odds and experimented with it, but then forgot it. Some weeks later I saw a thread here on the forum about the martingale betting system, and got really hooked. I started martingaling on 48% odds and won minimal ammounts (0.01) but still I won and won and won. I didn't care about googling martingale or think any more about it, because I won you know? So I started betting 0.1 btc and that's when it escalated pretty quickly. Lost 10 btc in about 10 transactions.. I promised to myself that I would never do it again.

Next time I logged into my wallet I saw that stupid SatoshiDice again, but I felt the URGE to play again, I couldn't stop myself. I told my buddy to stop me but he just laughted it off. So I started with 0.01 again since I didn't even had a coin. I left the wallet with a small profit again.

So some days ago I sold some stuff on bitmit (http://bitly.com/VIrA2o) and had 10 coins again, ofcourse you can guess what happened next. Lost it all. However, now I've sold some stuff again and got about 20 btc and I really feel the urge to bet it all on 50% odds to weigh up for the total loss of 20btc I have right now. I don't know what to do to stop myself, I'm 17 years old and have never been gambling before and now all of a sudden it's a serious addiction for me.

Please help out guys? Do you know how to stop myself from gambling? I would switch wallet but I really love the blockchain wallet exept for the fact that gambling is only 2 clicks away. Also, what do you think about bitcoins opening up a world of gambling to young people that normally would not even think about gambling?

[mitchfultz]

I am aware Bitcoin transactions are irreversible.  

The purpose of this post was to simply ask if options other than gambling are available to multiply the few Bitcoins I do have left.

So, what do you want exactly? Pitty, bitcoins or money?

I do not want your pitty and I think it is extremely rude the way you responded, psy and DeathAndTaxes.  As for begging, I reread my post and it does not seem like a beggers post to me.  My choices caused this situation and I know that, I was just throwing the possibility of a little help out there.  It isn't easy for me to post asking for help.  Your replies are the reasons why.  Why tear me down further when I know what mistakes I have made?

I would have never expected those type of responses on this forum.  

As for the guy who thinks this is a "troll" on SatoshiDice, no, this isn't me simply trolling.  I made the mistake of choosing to gamble my Bitcoins.  Many people have had major gains from that site and many people have had the complete opposite, like myself.

Be a little more professional in your responses, please.  

Seems like this guy has more than just gambling problems:

https://bitcointalk.org/index.php?topic=146243.0

Donate with caution.

And just because I chose Eminem as my avatar makes you believe I am the same person who made that post?

Thanks

[thefiniteidea]

Seems like this guy has more than just gambling problems:

https://bitcointalk.org/index.php?topic=146243.0

Donate with caution.

And just because I chose Eminem as my avatar makes you believe I am the same person who made that post?

Thanks

You're right... The fact that you also lost money gambling on Satoshi Dice has nothing to do with it.