Double your bitcoin or lose all of it?

[kotajikikox]

Bitcoin is a topic of everyone these days considering how much it is pumping. I wonder if you would take such a bet where someone offers to double the amount of bitcoin you have based on a coin toss. If you lose, you lose all your bitcoins. Would you take this bet?

[Gozie51]

No I won't go for such toss bet where I will put my hodling at risk of losing all if the toss didn't go to my favour, it is such a high risk. It is looking like staking a very high amount maybe a 100% risk and the general parlance about gambling is not to bet what you can not afford to lose. I can't afford to risk a Bitcoin for two, No. I rather wait for it to appreciate just as it is going currently.

[Oshosondy]

Can you tell us the exact reason for this question? I asked because despite the house edge in casino, I have not seen anything like this before. I mean for someone to have a chance of winning 50:50 but if he wins, his money will double but at any point he lose, all his money would be lost. No one will accepts that.

But if it is just once, I will accept it. It is 50:50, so I will accept it.

[OgNasty]

There is no force on heaven or earth that could possibly make me gamble my entire stack.  If you would, my advice to you is to stack harder because you don't own enough.

I don't care if it was a bet that LeBron James could beat me in basketball.  Not doing it. 

Being in Bitcoin is winning in itself, you don't need more.  But BTC and wait.  That's literally all you have to do.  Tell people you got rich gambling if you want, but if you but Bitcoin and hold it for 8 years, it will most likely be a life changing decision.

[Oshosondy]

There is no force on heaven or earth that could possibly make me gamble my entire stack.  If you would, my advice to you is to stack harder because you don't own enough.

I think OP did not explain it better. If it is about gambling with all my bitcoin, I will not accept that. But I think he meant that irrespective of the amount that you have, just for you to put certain amount down for the bet. Like $100 to be doubled to $200 and so on or the person will lose the money if he did not win the bet.

[batang_bitcoin]

Bitcoin is a topic of everyone these days considering how much it is pumping. I wonder if you would take such a bet where someone offers to double the amount of bitcoin you have based on a coin toss. If you lose, you lose all your bitcoins. Would you take this bet?

No thanks. I can do that for a few bucks but I won't risk and bet all of the btc's that I am holding. It makes no sense for me to hold all of those years and bet it with a toss coin and the 50/50 chance of doubling it. I'd go to the route of having a hard time and longer process of accumulation of doubling it than that. There is no need for me to aim for that quicker doubling when all I have is what I am risking to.

[Mrbluntzy]

I won't take such a bet because it's a very high risk bet. Coin toss can be very risky because the chance of guessing it right is 50/50, if I guess it wrong, my Bitcoin will be taken which I will not be very pleased with such a sudden disappearance of my coins which must have took me a long time to accumulate. It's the character of greed that will make me want to accept such bet and double my Bitcoin holding so absolutely, come with so much risk, right? I can't accept because I don't have the mind to.

[JunaidAzizi]

First of all, I will not put all my Bitcoins at risk for a 50/50 chance of winning or losing. It's not like other currencies that you can gain from anywhere, it's very hard earned money, and only a fool would engage in such stupidity.

In gambling, you cannot put all your assets at once. First, you can start with a little, and then again and again, to avoid instantly losing all your money at once. But as per the OP, if you lose, all your Bitcoins will be gone. So at this point, it's not a profitable bet, in fact, it will lead to a great attack if you lose. So it's better to hold rather than risk everything.

[Findingnemo]

Bitcoin is a topic of everyone these days considering how much it is pumping. I wonder if you would take such a bet where someone offers to double the amount of bitcoin you have based on a coin toss. If you lose, you lose all your bitcoins. Would you take this bet?

I won't, for that matter, I won't engage in the friendly bet with real wagering because we will never know the other person is capable of fulfilling his promise and do as he said, it's another extra risk other than a 50/50 chance.

Instead I will take my chance with slots where the potential is greated than 2x and no need to worry whether will get my money even if I win.

[Hazink]

Bitcoin is a topic of everyone these days considering how much it is pumping. I wonder if you would take such a bet where someone offers to double the amount of bitcoin you have based on a coin toss. If you lose, you lose all your bitcoins. Would you take this bet?

I'm not greedy, and I'm not in a hurry to look for fast money, so I can't take such a risk. The risk is too expensive. to imagine all your years of hard work and all your time used to buying and investing in Bitcoin has just gone because you took the risk of trying to double it, the risk is too much, and I can't agree to partake on such bet.

[Powerjumboo]

Bitcoin is a topic of everyone these days considering how much it is pumping. I wonder if you would take such a bet where someone offers to double the amount of bitcoin you have based on a coin toss. If you lose, you lose all your bitcoins. Would you take this bet?

I would never make such a bet because when I have one bitcoin, I will go ahead with that one bitcoin. I would never be overly greedy and agree to take the toss to double it with one bitcoin. And it's not just me, I think no one would agree to make such a bet because there is no 100% chance, there is a 50% 50% chance that no one would agree to bet to double their bitcoin because bitcoin is already a valuable asset and if this money is lost, I don't think anyone can live normally.

[Bright0515]

Bitcoin is a topic of everyone these days considering how much it is pumping. I wonder if you would take such a bet where someone offers to double the amount of bitcoin you have based on a coin toss. If you lose, you lose all your bitcoins. Would you take this bet?

If the game is offline, there is a high chances that there might be a scam during the process of the game. But if it is online and from a reputable crypto casino with good informations and conditions, it will be better safer than offline gambling. Doubling your money through gambling is risky, so there is no different when you gamble with Bitcoin. It is even better to lose them while you are trading than to lose all your Bitcoin through gambling. When you lose your Bitcoin through trading, there are some knowledge you might get but you won't learn anything when you lose your money through gambling.

[Patikno]

Bitcoin is a topic of everyone these days considering how much it is pumping. I wonder if you would take such a bet where someone offers to double the amount of bitcoin you have based on a coin toss. If you lose, you lose all your bitcoins. Would you take this bet?

I don't think the bet as you mentioned is a wise bet in gambling, because for me it is very risky, and betting using all of my Bitcoins is a tough decision for me, or I consider it as "The money I can't afford to lose", if I were to use just a small portion of my Bitcoin, I don't think it would be a problem, but even then, I would think twice about using it. By the way, I personally would exchange my Bitcoin for altcoins before playing, I will do this to protect my most valuable possession, so I will avoid using Bitcoin directly.

[Ultegra134]

Absolutely not. Over the past few years I've managed to accumulate a decent sum of Bitcoin; it has taken me years of hard work. Taking such a risk is extremely irresponsible, and it would be a shame to blow it all away just for the greediness of acquiring more money. I'm grateful for what I've accomplished, and I'm totally okay with abstaining from such a bet. The only way I'd consider it is if I had a small amount of BTC, such as 0.005 to 0.01, which is a plausible amount for a bet, even though I tend to place smaller ones when gambling myself.

[Cityhunter34]

Bitcoin is a topic of everyone these days considering how much it is pumping. I wonder if you would take such a bet where someone offers to double the amount of bitcoin you have based on a coin toss. If you lose, you lose all your bitcoins. Would you take this bet?

Honestly this is not something to try at all, even though Bitcoin in that matter. Despite the fact that we often take some risk in gambling, there are somethings that are not suppose to mention when talking about gambling because this is a game that luck plays a significant role in determining the final outcome. However, I would never in any way in my life try such thing in gambling because is not something to rely on, already have never thought of doubling my money before in gambling.

[Royal Cap]

Bitcoin is a topic of everyone these days considering how much it is pumping. I wonder if you would take such a bet where someone offers to double the amount of bitcoin you have based on a coin toss. If you lose, you lose all your bitcoins. Would you take this bet?

Like everyone else, my answer is not. Because I like to be happy with little. If I take such a big risk, I might have a heart attack before I win, haha. Mathematically, it doesn't increase your expected value at all, you have a 50 percent chance of getting the same amount or losing it all. Once you lose everything, it's almost might be possible to recover but that mental stress is what breaks many people. I'd rather try treading than do that. Because even if I lose, I'll learn something while doing trading.