From Mining to Gambling: A Rollercoaster Ride in the Crypto World

[B3albakii]

Hey everyone, I wanted to share my experience diving into the world of mining and crypto. I purchased three L3+ machines and enjoyed a nice profit from hashing on Nicehash for Bitcoin mining. However, with minimal knowledge, I delved into futures trading, following a paid signal WhatsApp group with just $500. I would enter trades with $200, experiencing some quick wins, making $50 or $100, but ultimately losing it all. Despite earning around $3,000 worth in BTC from mining, I lost it all in futures trading.

Then, I stumbled upon a crypto casino online. I deposited $20 and started playing various original casino games, winning about $350, all in USDT, only to lose it shortly after. Despite winning and losing amounts like $500 or $1,000 from subsequent deposits, I eventually found myself with just $50. I decided to play keno, choosing 10 out of 40 numbers. Luck seemed to be on my side as I made over $100,000 in 14 days. That night, I moved $85,000 to a cold wallet and left $7,000 in the casino to make a daily profit of $200. Additionally, I had $5,000 in Binance. The following morning, I eagerly joined the casino only to watch in dismay as I lost $7,000 in just 10 seconds. Frustrated, I deposited $10,000 from the cold wallet, only to lose it in less than a minute. I continued with a deposit of $20,000, experiencing the same outcome. Observing my substantial losses adding up to over $48,000, I then withdrew the remaining $43,000 from the cold wallet and wagered it all in the casino, losing it. Binance also suffered, and in the span of 3 minutes, I lost over $100,000.

That's my story, and I apologize if it was lengthy. I went to bed wealthy and woke up poor again.

[KennyR]

You've shared your story. More hidden stories were there with most of the bitcointalk users. I don't know how why you did this. One should never chase the loss. What you've lost at the beginning is very small amount. Atleast you should have left it for the day. Maybe you could've got it back if you had tried it the next day. Anyhow your wrong choice had made things worse. In the fast moving world it is really hard to survive. Opportunities shouldn't be left, and you've missed a great opportunity and I don't know whether you'll get similar luck again or not. Take this a learning and focus on something else, if not you're gonna loss more and more as you've lost all the money won.

[PrivacyG]

You learned a powerful lesson the hard way.  It hurts but we all learn things the hard way some times.

It is a very usual occurrence to win a lot at Casinos and then slowly depositing incremental values from reserves.  It is why gambling is so addictive and successful to the owners of Casinos.  Now get back into Bitcoin Mining or start Dollar Cost Averaging.  You did not lose much from your own Wallet.  Imagine you never lost over 100 thousand but only the money you deposited from your Mining and what ever else you had that was not a Casino income.

Stay safer next time.  Never risk this much again.  Or at least if you can not help it but continue the addiction and luck is on your side again, hand the reserves to some body else you trust and love.  Tell them out loud, NEVER hand me reserves for purpose of gambling.  If you can not help yourself, ask some body else to help you out.

[B3albakii]

You've shared your story. More hidden stories were there with most of the bitcointalk users. I don't know how why you did this. One should never chase the loss. What you've lost at the beginning is very small amount. Atleast you should have left it for the day. Maybe you could've got it back if you had tried it the next day. Anyhow your wrong choice had made things worse. In the fast moving world it is really hard to survive. Opportunities shouldn't be left, and you've missed a great opportunity and I don't know whether you'll get similar luck again or not. Take this a learning and focus on something else, if not you're gonna loss more and more as you've lost all the money won.

After my initial loss, I found myself torn between two mindsets. One part of me reasoned that it was okay, and I could try again later, while the other urged me to deposit more funds in order to recoup my losses. When I realized that I had lost half of my funds, I felt overwhelmed and began making reckless bets, driven by the desperate need to win them back. In that moment, I was unable to think rationally about my actions. The shock of going from 100k to 0 was incredibly difficult for someone in my situation. The following day, I managed to make 3k, but I ended up losing it because I was still focused on recovering my losses. As a result, I have made the decision to stay away from that site because I cannot afford to continue playing, and I refuse to borrow money for this purpose. Additionally, I no longer believe that I will be lucky in that regard.

[Nwada001]

So what's now stopping you from moving into requesting a loan from your neighbours, spouse, family, or anyone else that's close to you that can offer you one, or even moving to the bank to get a larger amount depending on your credit worth?
 
This is really a shameful act. Chasing losses to start with is every gambler's first mistake, and you were lucky enough to even win a large amount as a result of chasing your losses and also being reasonable enough to withdraw some of the winnings out of the casino and leave about $7,000, which you plan to use for another lucky try. When you end up losing the entire $7,000, did something not tell you that your lucky day has been exhausted and you should call it a day and move over to other life activities?
 
I just hope you learn your lesson from your experience, and I believe it's the first time you're trying this out, and you should also consider it the last time you make such a mistake; if not, you will end up turning into an addict, which might be as bad as selling your properties if you no longer have money to bet with.

[B3albakii]

You learned a powerful lesson the hard way.  It hurts but we all learn things the hard way some times.

It is a very usual occurrence to win a lot at Casinos and then slowly depositing incremental values from reserves.  It is why gambling is so addictive and successful to the owners of Casinos.  Now get back into Bitcoin Mining or start Dollar Cost Averaging.  You did not lose much from your own Wallet.  Imagine you never lost over 100 thousand but only the money you deposited from your Mining and what ever else you had that was not a Casino income.

Stay safer next time.  Never risk this much again.  Or at least if you can not help it but continue the addiction and luck is on your side again, hand the reserves to some body else you trust and love.  Tell them out loud, NEVER hand me reserves for purpose of gambling.  If you can not help yourself, ask some body else to help you out.
[/quote


Certainly, thank you. I no longer feel as interested in gambling as I used to. I've come to understand that easy money disappears quickly, very quickly. I've been reading about Dollar Cost Averaging and I hope things will improve. Thank you for your support.

[Silberman]

Hey everyone, I wanted to share my experience diving into the world of mining and crypto. I purchased three L3+ machines and enjoyed a nice profit from hashing on Nicehash for Bitcoin mining. However, with minimal knowledge, I delved into futures trading, following a paid signal WhatsApp group with just $500. I would enter trades with $200, experiencing some quick wins, making $50 or $100, but ultimately losing it all. Despite earning around $3,000 worth in BTC from mining, I lost it all in futures trading.

Then, I stumbled upon a crypto casino online. I deposited $20 and started playing various original casino games, winning about $350, all in USDT, only to lose it shortly after. Despite winning and losing amounts like $500 or $1,000 from subsequent deposits, I eventually found myself with just $50. I decided to play keno, choosing 10 out of 40 numbers. Luck seemed to be on my side as I made over $100,000 in 14 days. That night, I moved $85,000 to a cold wallet and left $7,000 in the casino to make a daily profit of $200. Additionally, I had $5,000 in Binance. The following morning, I eagerly joined the casino only to watch in dismay as I lost $7,000 in just 10 seconds. Frustrated, I deposited $10,000 from the cold wallet, only to lose it in less than a minute. I continued with a deposit of $20,000, experiencing the same outcome. Observing my substantial losses adding up to over $48,000, I then withdrew the remaining $43,000 from the cold wallet and wagered it all in the casino, losing it. Binance also suffered, and in the span of 3 minutes, I lost over $100,000.

That's my story, and I apologize if it was lengthy. I went to bed wealthy and woke up poor again.

Without a doubt the path you have walked through is one that I would not wish to anyone as the losses you have suffered after having luck on your side are staggering, however I hope that you can recognize the the person that has been responsible for such a difficult journey is yourself and no one else, since you have taken a series of decisions that we often warn against in the forum, like following signals or gambling more than what you can afford to lose, so think about what you did and learn from it, because if there is a next time you could lose every single asset you have to your name if you are not careful.

[GreatArkansas]

I remember myself with you but mine is different, I lose my Bitcoins not because of gambling but because of random altcoins I bought using my earned Bitcoin on my different internet gigs before. I was new before in cryptocurrency market and these random altcoins lured me and also trading without proper knowledge made me lost also lot of Bitcoin instead of just holding it.

[B3albakii]

So what's now stopping you from moving into requesting a loan from your neighbours, spouse, family, or anyone else that's close to you that can offer you one, or even moving to the bank to get a larger amount depending on your credit worth?
 
This is really a shameful act. Chasing losses to start with is every gambler's first mistake, and you were lucky enough to even win a large amount as a result of chasing your losses and also being reasonable enough to withdraw some of the winnings out of the casino and leave about $7,000, which you plan to use for another lucky try. When you end up losing the entire $7,000, did something not tell you that your lucky day has been exhausted and you should call it a day and move over to other life activities?
 
I just hope you learn your lesson from your experience, and I believe it's the first time you're trying this out, and you should also consider it the last time you make such a mistake; if not, you will end up turning into an addict, which might be as bad as selling your properties if you no longer have money to bet with.

 I can't do that. If I lose that money, it will have serious consequences and I cannot afford to recover from it. It would ruin my life and the lives of my family. When I lost that money, I convinced myself that I could easily win it back because it had happened many times during previous winning periods. For example, if I lost $3000, I would take another $3000 from my wallet and end up winning $7000 every time. I had placed my trust in this pattern, but it turned out to be a bad decision. I've been involved in this for about a year, and I don't feel like I'm addicted at this point. Yes, I used to think that I was truly addicted, but after the negative situation I experienced after losing "not my money," I realized how bad the situation could have been if it had been my own money.

[hatshepsut93]

Every school should be teaching kids that gambling is not a money making method, it's a money losing method, the simple laws of math clearly predict that everyone who gambles will lose their money in the end. Trading is also a risky activity that has similarities with gambling - unlike with gambling the odds are not known so you can't prove that it's a losing game, but the common obeservation also shows that most traders go broke. People should learn from this and don't consider themselves to be one of those special gamblers or traders that will make money easily. If you want to make money, do something that has low risk and high chance of success, like mining.

[AmoreJaz]

Every school should be teaching kids that gambling is not a money making method, it's a money losing method, the simple laws of math clearly predict that everyone who gambles will lose their money in the end. Trading is also a risky activity that has similarities with gambling - unlike with gambling the odds are not known so you can't prove that it's a losing game, but the common obeservation also shows that most traders go broke. People should learn from this and don't consider themselves to be one of those special gamblers or traders that will make money easily. If you want to make money, do something that has low risk and high chance of success, like mining.

the OP should have stayed in mining. at least he has something to sell after certain period of time. going to futures as well is like gambling if you don't know yet about the market. i don't know how true that he got that kind of winnings, about 100k. but then again, he lost it all in gambling. he should not have followed his ego of playing it all. he didn't even set aside like few thousands of dollars. if he will continue his gambling habits, high likely that he will soon find himself in deep debt and trouble to those people he owed from. i understand a lot of gamblers are betting it all for the mere thought of recovering all the losses, but usually, what happens is the other way around. and it is already too late before you stop as there's no more left.

[PrivacyG]

Certainly, thank you. I no longer feel as interested in gambling as I used to. I've come to understand that easy money disappears quickly, very quickly. I've been reading about Dollar Cost Averaging and I hope things will improve. Thank you for your support.

They will improve quickly.  Take it as a lesson.  Not as a LOSS.  Accept this was your fate and step ahead.

Your first step toward the right path is this.  You acknowledged the loss.  You made a Bitcoin Talk account and you told your story listening to what we think.

Once you realize this was a LESSON instead of a LOSS you will understand the reasoning behind it and you will understand why it was important to you.  You could of worked for many years and earned 100 thousand the hard way then fall into a gambling addiction and lose it all.  You 'made' the money fast and lost it faster with little to no effort.  You are fine!

Dollar Cost Averaging is very simple.  Buy Bitcoin every now and then.  No matter how much.  Studies show even one coffee worth of Bitcoin invested a day for years has done wonders in the past.

[Zlantann]

I can't do that. If I lose that money, it will have serious consequences and I cannot afford to recover from it. It would ruin my life and the lives of my family. When I lost that money, I convinced myself that I could easily win it back because it had happened many times during previous winning periods. For example, if I lost $3000, I would take another $3000 from my wallet and end up winning $7000 every time. I had placed my trust in this pattern, but it turned out to be a bad decision. I've been involved in this for about a year, and I don't feel like I'm addicted at this point. Yes, I used to think that I was truly addicted, but after the negative situation I experienced after losing "not my money," I realized how bad the situation could have been if it had been my own money.

Everybody has his own story but the only difference is the lesson you have derived from them. You wasted a fortune on gambling that's the act, but the truth is that you cannot change your past. Put this failure behind you and face the future with much enthusiasm and not with regrets. Gambling is not a predictable activity which is why it is important not to trust a certain pattern. You won using a strategy doesn't guarantee that you will get theasme result in a few minutes.

In future avoid chasing losses and ensure you maximize such big wins. This fund could have been invested in something else like Bitcoin would have been profitable. I am also encouraging you to have a gambling plan with a budget. You wouldn't have gambled with all your wins if you had a budget that you followed strictly. In most cases, gambling addicts might not be aware that they are gambling irresponsibly until they lose heavily or start facing financial problems. There is always a need to evaluate how you spend your money so as to certain loopholes. A gambling plan is also another means of overcoming gambling disorder.    

[philipma1957]

Hey everyone, I wanted to share my experience diving into the world of mining and crypto. I purchased three L3+ machines and enjoyed a nice profit from hashing on Nicehash for Bitcoin mining. However, with minimal knowledge, I delved into futures trading, following a paid signal WhatsApp group with just $500. I would enter trades with $200, experiencing some quick wins, making $50 or $100, but ultimately losing it all. Despite earning around $3,000 worth in BTC from mining, I lost it all in futures trading.

Then, I stumbled upon a crypto casino online. I deposited $20 and started playing various original casino games, winning about $350, all in USDT, only to lose it shortly after. Despite winning and losing amounts like $500 or $1,000 from subsequent deposits, I eventually found myself with just $50. I decided to play keno, choosing 10 out of 40 numbers. Luck seemed to be on my side as I made over $100,000 in 14 days. That night, I moved $85,000 to a cold wallet and left $7,000 in the casino to make a daily profit of $200. Additionally, I had $5,000 in Binance. The following morning, I eagerly joined the casino only to watch in dismay as I lost $7,000 in just 10 seconds. Frustrated, I deposited $10,000 from the cold wallet, only to lose it in less than a minute. I continued with a deposit of $20,000, experiencing the same outcome. Observing my substantial losses adding up to over $48,000, I then withdrew the remaining $43,000 from the cold wallet and wagered it all in the casino, losing it. Binance also suffered, and in the span of 3 minutes, I lost over $100,000.

That's my story, and I apologize if it was lengthy. I went to bed wealthy and woke up poor again.

Find a gamblers anonymous meeting .

http://www.gamblersanonymous.org/ga/

G.A. is what you need. not BTC

[Yaunfitda]

Hey everyone, I wanted to share my experience diving into the world of mining and crypto. I purchased three L3+ machines and enjoyed a nice profit from hashing on Nicehash for Bitcoin mining. However, with minimal knowledge, I delved into futures trading, following a paid signal WhatsApp group with just $500. I would enter trades with $200, experiencing some quick wins, making $50 or $100, but ultimately losing it all. Despite earning around $3,000 worth in BTC from mining, I lost it all in futures trading.

Then, I stumbled upon a crypto casino online. I deposited $20 and started playing various original casino games, winning about $350, all in USDT, only to lose it shortly after. Despite winning and losing amounts like $500 or $1,000 from subsequent deposits, I eventually found myself with just $50. I decided to play keno, choosing 10 out of 40 numbers. Luck seemed to be on my side as I made over $100,000 in 14 days. That night, I moved $85,000 to a cold wallet and left $7,000 in the casino to make a daily profit of $200. Additionally, I had $5,000 in Binance. The following morning, I eagerly joined the casino only to watch in dismay as I lost $7,000 in just 10 seconds. Frustrated, I deposited $10,000 from the cold wallet, only to lose it in less than a minute. I continued with a deposit of $20,000, experiencing the same outcome. Observing my substantial losses adding up to over $48,000, I then withdrew the remaining $43,000 from the cold wallet and wagered it all in the casino, losing it. Binance also suffered, and in the span of 3 minutes, I lost over $100,000.

That's my story, and I apologize if it was lengthy. I went to bed wealthy and woke up poor again.

It was a nice read, unfortunately, it had a sad ending. And yes it was a roller coaster ride, as a fellow gambler, I know how you feel when you win that big and thought that you can continue to win or at least manage your own capital. But lo and behold, just like most of the gamblers here, most of the time we lost control of ourselves, our decisions behind clouded and all we want is to get back what we lost initially and chase it.

So hopefully, this could be a very expensive lessons for you and to other gamblers as well. I know it's hard to control our emotions, but just imagine what you could have done with that money that you already won without any sweat.

[adaseb]

Yeah I’ve been a miner also in the past and what you experienced basically happened to many miners in the past. Miners should just mine and nothing else.

Many tried to trade and they lost all their mined profits. And some even tried the crypto casinos and also lost it all on dice. It’s because mining doesn’t really pay as much as trading or gambling and why many get greedy and went up going bust.

[davis196]

1.Maybe you should move this thread to the Gambling Discussion forum, since you are writing about crypto gambling. This forum is about discussions that are directly related to Bitcoin.
2.I find it hard to believe your story. Can you post some kind of proof? Transactions of the blockchain? Screenshots from casinos?
3.I guess that you have formed some kind of gambling addiction. Winning 100K via gambling makes you think that you could win 1M, which is totally delusional. The casino always wins at the end of the day and gambling is supposed to be for fun only. This is not a way to make money consistently or to become rich quick. Quit gambling ASAP. This isn't a healthy behavior.

[Wapfika]

-

This story of yours is the typical result for people that gain quick rich since you will be more greedy on entering more risky investments because you accumulate your money in an easy way.

It’s very hard to get over on this kind of lose but this lesson will surely gave you a valuable experience in the future to be more careful when you start earning again in a regular way. I’m almost gonna experience like this but I always manage securing my initial investment when in profit so that I can’t lose it all just like what happened to you. Bounce back stronger!

[B3albakii]

Every school should be teaching kids that gambling is not a money making method, it's a money losing method, the simple laws of math clearly predict that everyone who gambles will lose their money in the end. Trading is also a risky activity that has similarities with gambling - unlike with gambling the odds are not known so you can't prove that it's a losing game, but the common obeservation also shows that most traders go broke. People should learn from this and don't consider themselves to be one of those special gamblers or traders that will make money easily. If you want to make money, do something that has low risk and high chance of success, like mining.

the OP should have stayed in mining. at least he has something to sell after certain period of time. going to futures as well is like gambling if you don't know yet about the market. i don't know how true that he got that kind of winnings, about 100k. but then again, he lost it all in gambling. he should not have followed his ego of playing it all. he didn't even set aside like few thousands of dollars. if he will continue his gambling habits, high likely that he will soon find himself in deep debt and trouble to those people he owed from. i understand a lot of gamblers are betting it all for the mere thought of recovering all the losses, but usually, what happens is the other way around. and it is already too late before you stop as there's no more left.

Why not true ?
Txid.   0xa602aa6ab5a8acf6d0d47c490d7c26b05c7b9f732fbfdafd35e9e610fb179125
Txid.   0xa387f42141f9632d36d4592b8eb6cf6e6a6a214a638ea3b9d276b184c57106f6
Txid.    0x6b0b0e4a6018d0cb3e50f2bc6692fbcf0e64ad553e974bc98c996be572941451


Still two transaction i made

[B3albakii]

Certainly, thank you. I no longer feel as interested in gambling as I used to. I've come to understand that easy money disappears quickly, very quickly. I've been reading about Dollar Cost Averaging and I hope things will improve. Thank you for your support.

They will improve quickly.  Take it as a lesson.  Not as a LOSS.  Accept this was your fate and step ahead.

Your first step toward the right path is this.  You acknowledged the loss.  You made a Bitcoin Talk account and you told your story listening to what we think.

Once you realize this was a LESSON instead of a LOSS you will understand the reasoning behind it and you will understand why it was important to you.  You could of worked for many years and earned 100 thousand the hard way then fall into a gambling addiction and lose it all.  You 'made' the money fast and lost it faster with little to no effort.  You are fine!

Dollar Cost Averaging is very simple.  Buy Bitcoin every now and then.  No matter how much.  Studies show even one coffee worth of Bitcoin invested a day for years has done wonders in the past.

I'm really grateful for your support, buddy. You're absolutely right, I'm taking this as a valuable lesson. It's tough when you need $100 for everyday needs and there's nothing in your pocket. I'm still processing how I ended up betting such a large amount, but I'm determined to learn from this experience. Your advice means a lot to me. Thank you.