Challenge: What's the best way to win 1 BTC with 1 BTC?

[knowhow]

Well im confused and well why to trought away 1 btc into the dice games ? Why not to choose others methods as altcoins,i understand you wanna to double it but i guess you choosing the fast way to loose it .

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[Chemistry1988]

The less riskiest way to do it is:

1. Pick a dice site with the LOWEST house edge for a bet profit of 1BTC.
2. Roll 1BTC at 2x.

Done.


For say a dice site of 0.1% edge, it would only be 0.001BTC house edge.


It is actually the BEST strategy there and of course still negative EV but the only thing wrong with it is, it takes the fun part out.

Regarding step 2, making one single all-in bet is a very good strategy but it is in fact NOT the best strategy. Take a look at dooglus' post in https://bitcointalk.org/index.php?topic=939776.60 and you will see an example constructed assuming a 1% house edge that gives the player a winning chance of 49.649% (compared with 49.5% in a single all-in bet with 1% house edge).

[Superhitech]

0.01 on 100x i think if your lucky you can hit it twice in 100 rolls.
but everything depends on luck
regards.
-Katerniko1

I actually think this is the best way to go about playing dice... bet low with very low odds of winning so your winnings will be 1000X more... better than slowly losing over time, than to just risk it all over a couple of bets which could pay out big time.

The odds are actually very close whether you bet one big bet or martingale/small slow bets. Really it comes down to if you want a long period of entertainment or not.

[mtnsaa]

This is what I did some weeks ago with a smaller amount, it was about 0.1 BTC I think but in another cryptocurrency. I had it in a dice wallet and as I had to transfer it to my main one and then back to BTC so I thought what the hell, let's try to double it. I'm not a betting guy, that's very important since you have to be very cold and be prepared to lose it all.

The strategy may have been mentioned before and it's very simple: Bet 50%, if you win, you're out (I know that's not your goal, but you can try again next day or when you feel like it) if you lose, try again to regain the money (now you reallly are at risk of lose it all).

I've won on the first play and never gamble it again. So if you are lucky you would have 1.5 BTC, bet again in the next days to achieve your goal or go back to square one. It's basically like playing it all at once, but with a safety net, you won't be dead if you lose it all in the first play. You also avoid exposure to the house edge.

All other systems that require hundreds of bets are useless when you consider the house edge, you'll LOSE. Setting up some rules and limits like this will clear your head and you won't be exposed in the heat of the moment.

[dinda22]

looks simple, but you can also lose more quickly. yeah playing dice with odds x2, before you bet 1BTC maybe you can fish numbers with small bets

[panjul07]

0.01 on 100x i think if your lucky you can hit it twice in 100 rolls.
but everything depends on luck
regards.
-Katerniko1

I have tried those method and I hit 100x more than twice in 100rolls but on other day I tried the same and I did not hit in 500rolls even once. So yes, its all about luck.

[coinableS]

Wait for a decent price move with momentum and bet 1 BTC on secondstrade binary options. I've been having pretty good luck lately playing with the binary trading. I haven't bet a whole BTC though, I'm not a highroller  Better than just random luck with dice in my opinion.

[knowhow]

Well those method is much more risky ,but well the prediction can turn into 75% more with lower risk then dice ,or similiar risk,anyway .

[rizkyhiw]

0.01 on 100x i think if your lucky you can hit it twice in 100 rolls.
but everything depends on luck
regards.
-Katerniko1

"if lucky" it's not make sense to math, luck can not be calculated.
so it was clearly enough that it's not the right way or a strategy at all.
the best way to win 1 BTC with 1 BTC for me is play minesweeper in satoshimines once using 5 mines hit once too and withdraw your chance to win almost 70%.
do it again in dice sites. once per one dice site on 70% chance to win.

[LFC_Bitcoin]

You need to minimise your risk so I'd advise against making multiple smaller bets because you're likely to mess up that way.

My idea could fail too but I'd make a single bet on something quite likely that offers smaller odds.

So for example I'd bet on a football/soccer match by picking a strong team at home to beat a smaller team. E.g. Man City to beat Norwich at the Etihad. You might get 'evens' as your betting odds so bet 1 bitcoin & if Man City win you win back your stake + another 1 bitcoin. Simple right?

Or it could come crashing down & you lose but no gambling is certain.

[leex1528]

The best way you can actually do this is to bet 1BTC at 2x.  Hope for the best.  There are no strategies that actually work like that.  If there is a bounty for telling you what the best way is please send to me now:)

[birdcat90]

to win 1 btc with 1 btc...i will try to use 90% chance for 10x rolls on dice with increase on loss 10x...

do it in sequences..10 rolls change seeds and so on until it hit 1 btc...

[dooglus]

Challenge: The person who provides the best way to win 1 BTC using a bankroll of 1 BTC. I will give 0.1 BTC to (payable to their moneypot account).

When does this competition end? The best 3 strategies I've seen so far, in reverse order, are:

leading to a 49.64716% chance of winning.

you have a 49.64812% chance of winning.

chance of winning =  100 * (1 - ((100 - 1.0664) / 100) ** 64) = 49.649475445976265%

So do I win?

[RHavar]

So do I win?

Yeah, yours is the best so far ! But a couple weeks before you posted that, I had already given the bounty to blockage 

On a side note, most of the replies to this thread are pretty hilarious. Seems like people don't like reading

[dooglus]

So do I win?

Yeah, yours is the best so far ! But a couple weeks before you posted that, I had already given the bounty to blockage 

Yeah, but you also said:

added 0.1 to blockage's account. If someone can beat his solution, I'll give them 0.1 as well.

On a side note, most of the replies to this thread are pretty hilarious. Seems like people don't like reading

Most people aren't very good at following instructions. Your OP is pretty clear. You want to maximise the chance of doubling 1 BTC using a well-defined sequence of bets. I'm glad you find it hilarious. Personally it makes me feel hopeless.

[RHavar]

Yeah, but you also said:

added 0.1 to blockage's account. If someone can beat his solution, I'll give them 0.1 as well.

Ahh touché, forgot I wrote that. I can't remember if you own dooglus on mp or if that's an imposter, so I've credited the 0.1 btc to dooglus on bustabit. Enjoy!

[dooglus]

Ahh touché, forgot I wrote that. I can't remember if you own dooglus on mp or if that's an imposter, so I've credited the 0.1 btc to dooglus on bustabit. Enjoy!

Thanks! I own both accounts by the way.

[Erza]

Well im confused and well why to trought away 1 btc into the dice games ? Why not to choose others methods as altcoins,i understand you wanna to double it but i guess you choosing the fast way to loose it .

Because dice is the fastest way and the easiest way to get your money. Throw 1btc in dice games will lead you into doubling your balance if you know how to play it. Mostly people are using 1.xx multiplier with higher balance, this is safer than do martingale although sometimes you will lose too but you have earned it before you lose it so it is worth to try

[BTCevo]

to win 1 btc with 1 btc...i will try to use 90% chance for 10x rolls on dice with increase on loss 10x...

do it in sequences..10 rolls change seeds and so on until it hit 1 btc...

But that is pretty scary too, if I do that 90% chances of win I will do it for 10 days or may be 5. Earn 0.1 or 0.2 each day, this is better rather than get it all just in one day. Dice is always the scariest game ever 

[Hazir]

Well im confused and well why to trought away 1 btc into the dice games ? Why not to choose others methods as altcoins,i understand you wanna to double it but i guess you choosing the fast way to loose it .

Because dice is the fastest way and the easiest way to get your money. Throw 1btc in dice games will lead you into doubling your balance if you know how to play it. Mostly people are using 1.xx multiplier with higher balance, this is safer than do martingale although sometimes you will lose too but you have earned it before you lose it so it is worth to try

When it comes to gambling fastest not always is the best option. Unless, of course, you want to lose your money fast.
Dice is easy, but it is risky, there is nothing you can do to influence the outcome, martingale is fiction, other 'strategies' or dice 'hacks' are just gambler's superstition.