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Author Topic: Gambled away my tuition bitcoins  (Read 4215 times)
Nathonas
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January 29, 2014, 03:36:27 AM
 #1

I feel like a fool right now and I really need to just talk about this. This isn't an attempt solicit donations.

I didn't lose a ridiculous amount of money. In fact, I *only* lost about 7.7 bitcoins, which would currently equate to about 6000 dollars. But the problem is that as a full-time university student, this was 90% of my savings. And since student loans don't cover the full cost of my expenses, I don't have any money after this semester.

I was never a gambler. I've never gone to a casino. I've never played poker. Hell, I never even bought a lottery ticket. But for some reason when I saw a post about a website called just-dice.com, where you can bet bitcoins on a dice game, I was immediately hooked. I created a plan for myself - I said that I would play careful and control my bets. I would withdraw BTC after winning 50% of my initial deposit. Everything was going rather smoothly; although I went down a few times, I ended up hitting 9.5 bitcoins yesterday.

But then I couldn't control myself and thought that I could keep going, even in face of mathematical logic. I lost 1.5 bitcoins. Then I deposted two more. I lost those too. Then again the same. Until I saw all my money vanish and I realized the horror of what I had done. In case anyone is curious, here is the image of my loss (-7.7btc).

http://i.imgur.com/RjPodBl.jpg

I didn't sleep last night and all I could think about during class today was how much of a loser and moron I am. I just hate myself for throwing away my own hard-earned money.

edit: updated to final lost value of money from 5.7 to 7.7 I'm a broke ass fool.


All we have to decide is what to do with the time that is given us - Gandalf
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Mivexil
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January 29, 2014, 03:38:49 AM
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*sigh* just as I've withdrawn my invest.

Well, that was stupid, but at least it will teach you something about gambling (namely: don't do it).
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January 29, 2014, 03:40:59 AM
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we all make mistakes. Unfortunately this mistake is hard to recover. Just learn from your actions and move on. Dont beat your self up and forgive yourself.

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January 29, 2014, 03:42:41 AM
 #4

Gambling is bad, gambling with money you can't afford to lose is worse.

Get a part time minimum wage job preferably a really crappy one like flipping burgers.  The 600+ hours you will need to work will provide some negative reinforcement which should last the rest of your life.


(Before someone complains about being an ass, I worked crappy jobs through college, it sucked but it didn't kill me and it won't kill the OP either). 
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January 29, 2014, 03:47:53 AM
 #5

Learn not to gamble OP. $4800 is a cheap lesson if you remember it for the rest of your life.
BTCisthefuture
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January 29, 2014, 03:48:15 AM
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Chalk it up as a good life lesson.  

Gambling should be thought as something you do for fun and entertainment.... just like you wouldn't spend your life savings on dinner and a movie or a night of entertainment at the club , don't spend money you can't lose on the entertainment that is gambling.

You're young enough that it's not that big of a problem, might not feel like it to you right now but it's really not "that bad".  At least youre not older with a morgage, a wife, and kids , etc etc.

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
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January 29, 2014, 03:50:02 AM
 #7

You are doing it wrong!
Always play on *2.1 or higher payout and always double the bet if you lose!

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January 29, 2014, 03:55:58 AM
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Learn not to gamble OP. $4800 is a cheap lesson if you remember it for the rest of your life.

This is a very good point.  My buddy ended up losing his condo. His g/f left him, and ended up with custody of the kids.

If you think you might have a gambling addiction, go and talk to someone. It's a slippery slope that can spiral out of control really fast.
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January 29, 2014, 03:57:04 AM
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Am I seeing a pattern here?

I gamble... with hopes of winning (of course), but with realistic expectations that I might not win. But recently there's been a number of posts relating to a particular type of gambling - dice. I've tried it a few times, totally not my thing. I guess I'm wondering if dice is a different kind of beast?  

OP, it's happened to most if not all of us who engage in risky behavior such as this. This is definitely a life lesson for you... an experience/wise words you'd be able to offer to your children one day and perhaps deter them from a similar fate.

And you're in school anyways... how is sleep even an option for you! Tongue  jk

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January 29, 2014, 03:57:34 AM
 #10

You are doing it wrong!
Always play on *2.1 or higher payout and always double the bet if you lose!

PLEASE IGNORE!!!

Nathonas
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January 29, 2014, 04:04:42 AM
 #11

Yeah you guys are absolutely right. I googled some horror stories of people losing everything to gambling...I got off easy.

You are doing it wrong!
Always play on *2.1 or higher payout and always double the bet if you lose!

lol

All we have to decide is what to do with the time that is given us - Gandalf
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January 29, 2014, 04:05:00 AM
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Here's an idea:  Take a year off and get a job.  If you make sure to wear a raincoat you'll have a chance to get back in and finish it up if you want.


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January 29, 2014, 04:08:24 AM
 #13

You are doing it wrong!
Always play on *2.1 or higher payout and always double the bet if you lose!

lol, another winning "strategy"  Wink
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January 29, 2014, 04:17:32 AM
 #14

Gambling is a bad idea overall, but if you can afford to lose then do what you want. If you can't afford to lose then you're dumb as fuck.

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January 29, 2014, 04:34:29 AM
 #15

I feel like a fool right now and I really need to just talk about this. This isn't an attempt solicit donations.

I didn't lose a ridiculous amount of money. In fact, I *only* lost about 6 bitcoins, which would currently equate to about 4,800 dollars. But the problem is that as a full-time university student, this was 90% of my savings. And since student loans don't cover the full cost of my expenses, I don't have any money after this semester.

I was never a gambler. I've never gone to a casino. I've never played poker. Hell, I never even bought a lottery ticket. But for some reason when I saw a post about a website called just-dice.com, where you can bet bitcoins on a dice game, I was immediately hooked. I created a plan for myself - I said that I would play careful and control my bets. I would withdraw BTC after winning 50% of my initial deposit. Everything was going rather smoothly; although I went down a few times, I ended up hitting 9.5 bitcoins yesterday.

But then I couldn't control myself and thought that I could keep going, even in face of mathematical logic. I lost 1.5 bitcoins. Then I deposted two more. I lost those too. Then again the same. Until I saw all my money vanish and I realized the horror of what I had done. In case anyone is curious, here are images of the majority of the dice bets. (-5.57 total bitcoins) http://imgur.com/a/taf7G

I didn't sleep last night and all I could think about during class today was how much of a loser and moron I am. I just hate myself for throwing away my own hard-earned money.



You have my sympathy. You are a gambling addict but didn't realize it until it was too late. Go and get some support if available in your area. Don't think "the money has gone, I don't need support now". That is the addict trying to trick you. You will have money again in the future. If you don't get support, the pattern will repeat itself, believe me. I was married to a gambling addict .....
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January 29, 2014, 04:35:04 AM
 #16

OP - you dumbass!
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January 29, 2014, 05:04:30 AM
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Congrats on trying to win big, and for taking the kinds of risk most people here clearly don't have the balls to do. If you have a small amount left I would play it again and try to get more of your money back. Just consider that 4g's gone and maybe your luck will change.

I probably wouldn't do it again though. At least now you know better and it's just money at the end of the day




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January 29, 2014, 05:29:28 AM
 #18

You are doing it wrong!
Always play on *2.1 or higher payout and always double the bet if you lose!

That's terrible advice. You would need a huge bankroll and nerves of steel for that to be profitable. You are much better off taking this in as a learning experience...
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January 29, 2014, 05:31:22 AM
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Damn man everyone makes mistakes but that is a really bad mistake you made. I feel bad for you OP. Undecided
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January 29, 2014, 06:45:39 AM
 #20

Player    Number    Target    Bet size    Profit
Herminus (330377)   02.8036   <33.0000   0.00000004   +0.00000008
Herminus (330377)   46.5257   <33.0000   0.00000002   -0.00000002
Herminus (330377)   48.2695   <33.0000   0.00000002   -0.00000002
Herminus (330377)   78.3290   <33.0000   0.00000001   -0.00000001
Herminus (330377)   01.3940   <33.0000   0.00000001   +0.00000002
Herminus (330377)   08.0847   <33.0000   0.00000002   +0.00000004
Herminus (330377)   32.6580   <33.0000   0.00000001   +0.00000002
Herminus (330377)   09.1414   <33.0000   0.00000008   +0.00000016
Herminus (330377)   73.6157   <33.0000   0.00000004   -0.00000004
Herminus (330377)   90.3140   <33.0000   0.00000002   -0.00000002
Herminus (330377)   55.1715   <33.0000   0.00000002   -0.00000002
Herminus (330377)   91.2975   <33.0000   0.00000001   -0.00000001
Herminus (330377)   12.1702   <33.0000   0.00000002   +0.00000004
Herminus (330377)   80.3163   <33.0000   0.00000001   -0.00000001
Herminus (330377)   14.7930   <33.0000   0.00000004   +0.00000008
Herminus (330377)   40.2683   <33.0000   0.00000002   -0.00000002
Herminus (330377)   42.8177   <33.0000   0.00000001   -0.00000001
Herminus (330377)   28.7208   <33.0000   0.00000004   +0.00000008
Herminus (330377)   56.4517   <33.0000   0.00000002   -0.00000002
Herminus (330377)   69.6440   <33.0000   0.00000001   -0.00000001
Herminus (330377)   19.6360   <33.0000   0.00000001   +0.00000002
Herminus (330377)   21.2790   <33.0000   0.00000002   +0.00000004
Herminus (330377)   93.9323   <33.0000   0.00000001   -0.00000001
Herminus (330377)   29.2923   <33.0000   0.00000004   +0.00000008
Herminus (330377)   86.9031   <33.0000   0.00000002   -0.00000002
Herminus (330377)   74.4436   <33.0000   0.00000001   -0.00000001
Herminus (330377)   05.9175   <33.0000   0.00000008   +0.00000016
Herminus (330377)   36.6315   <33.0000   0.00000004   -0.00000004
Herminus (330377)   50.6931   <33.0000   0.00000002   -0.00000002
Herminus (330377)   93.6458   <33.0000   0.00000001   -0.00000001
Herminus (330377)   04.3561   <33.0000   0.00000002   +0.00000004
Herminus (330377)   57.2832   <34.0000   0.00000001   -0.00000001

As you can see there is a winning strategy you just need to be calm, play stress free and the winning will come
The only thing you need to know is when to STOP!
Take a break and continue the next day or never if you decided you won enough!

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