I made 100BTC with Satoshi's dice. Is this normal?

[stoppots]

shill much?

https://bitcointalk.org/index.php?action=profile;u=57646;sa=showPosts

What's your point?  His only 7 posts are on this thread.  Is that suspicious?

Wouldn't call it suspicious. His 7 post are in the thread he created titled,

"I made 100BTC with Satoshi's dice. Is this normal?"

Is this normal?

My point being its shilling.

according to mtgoxlive + google, 100 btc is exactly 11802.8 shillings.

What's your point?  His only 11802.8 shillings are now gone.  Is that suspicious?

[burtan]

I bought my first 30 BTC the other day, and decided to try my hand at Satoshi's dice on the 50% slot. Kept betting 3BTC, if I lost I bet 6 BTC, and if I lost that then I bet 12BTC. If I won, I kept betting 3BTC. I believe this is called the martingale strategy. In the last 3 days and over 600 transactions, I've made over 100 BTC. I'm amazed.

This seems incredibly easy and too good to be true. What am I missing here? The coins are confirming and all is well, but I can't imagine how this site stays profitable giving away $1000+ to a user. Does everyone usually win this much?

The Martingale betting system can only work if you have an infinite bankroll. Even if you are playing a game that is even 50/50 odds. Over the long run the Martingale betting system sill only leaves your odds at 50%, because the odds of flipping a coin say 7x heads is 128 to 1 and you have to risk 128x your original bet on the 7th flip. At a game that is less than 50/50 (which allcasino table/slot games are) the odds get even worse.

[stoppots]

shill much?

https://bitcointalk.org/index.php?action=profile;u=57646;sa=showPosts

What's your point?  His only 7 posts are on this thread.  Is that suspicious?

Wouldn't call it suspicious. His 7 post are in the thread he created titled,

"I made 100BTC with Satoshi's dice. Is this normal?"

Is this normal?

My point being its shilling.

according to mtgoxlive + google, 100 btc is exactly 11802.8 shillings.

What's your point?  His only 11802.8 shillings are now gone.  Is that suspicious?

Appears satoshidice has been unresponsive to several unpaid winning bets going on 4 days now. Is that suspicious?

[purpleplastic]

Nice one !

[dooglus]

Appears satoshidice has been unresponsive to several unpaid winning bets going on 4 days now. Is that suspicious?

It's worrying if nothing else.

[carlos_y]

you are the one lucky bastard 

[drakahn]

Appears satoshidice has been unresponsive to several unpaid winning bets going on 4 days now. Is that suspicious?

It's worrying if nothing else.

Seems to have caught up (for me at least) now, the tubes just needed some rattling

[burtan]

The simple fact is that if the house has an edge no betting strategy will ever change that unless your bank is bigger than their bank (Good luck with that). The only way to ever win in the long run is to have the edge in your favour. The only Casino game that I know of that this is possible to achieve (without cheating of course) is Black Jack (counting cards), but now days with continuous shuffle this is no longer possible. If you want to gamble and make money find a skill based game where you control the edge and EV (Poker, Gin, Sports etc..) Hard work  and good maths is unfortunately the only way to ever profit in the long run

[dooglus]

The only Casino game that I know of that this is possible to achieve (without cheating of course) is Black Jack (counting cards), but now days with continuous shuffle this is no longer possible.

Take a look at strikesapphire.com.  Their blackjack was very beatable until recently (dealing 65% to 75% of the way through 6 decks before shuffling and allowing a spread from $0.10 to $5.00) and probably still is, but to a much lesser degree.

[bcbuck]

dooglus,

Just wondering - if their blackjack was beatable - did you clean them out?  If not....why not? 

Cheers

[dooglus]

Just wondering - if their blackjack was beatable - did you clean them out?  If not....why not? 

I didn't clean them out, because I liked the site and didn't want it to fail.

I played for the minimum stakes of 10c-$5 rather than the bigger tables, and ended up only winning about $300.  I taught my girlfriend how to count too, and she won about the same amount.  That wasn't all on blackjack; some of it was on the weekend tournaments which were also "beatable" in a way - there was a $20 or so prize for winning the most each weekend which made some high stake 50-50 roulette bets really worth playing.

Then the owner of the site banned us both, and all my friends.  He started making crazy accusations, like that my girlfriend didn't exist even though he had spoken to us both on Skype already.  It was funny because he knew we were counting cards all along, and kept telling us we were doing it wrong.  I'm still not clear why we were banned.  The owner has admitted that neither of us broke the site's terms and conditions.  But I reported a lot of bugs, and I think the owner took it personally, rather than seeing it as my attempt to help him fix his site.

I kind of wish now that I had cleaned them out, but at the time I thought the owner was a decent guy and wanted to see his business really take off.  Now, not so much.

[RodeoX]

The Martingale strategy has worked well for me in blackjack. Though not as profitable as hard work.

[UnitClick]

Well, after a couple week break from Satoshi dice, I decided to buy another 30 BTC and try it again. I don't know if it's good luck or a good strategy, but after betting many, much smaller sums I ended up making 58 BTC.

I am determined not to lose this. I beat the odds twice and I'm not going to be a poor gambler and try to double or triple it like I did last time. I'm more informed about the odds of satoshi dice and know that the odds will get even worse if I put these coins back into the system. So, where do you guys think I should put these coins? I've been thinking of putting it all into either pirate bonds or the gamma bitcoin fund, but don't know if there's a better option out there.

Is there something like Satoshi dice where you can instantly or near instantly speculate on the bitcoin market? I want to get out of playing with chances and start making informed bets where skill matters.

[finkleshnorts]

Starfish BCB

[Bitobsessed]

Oh also, the best way to play SatoshiDice is using an ewallet account from Blockchain.info/wallet.  Inside the wallet, click on the Send Money tab, then on the left side you'll see a SatoshiDice link. The transactions are usually processed faster through this method, and Blockchain.info made a really nice interface IMO.

Blockchain.info also has an Android app for a wallet.  Now I play SD all the time!  Even at work.

[hotdealdave]

I don't think the OP was shilling, or he wouldn't have stated that he lost the coins later in the thread. On a side note, I played SD myself once, and thought it was really fun and slick. I never got into the black, but made a few rolls and ended up with less than a 1BTC loss. I may try it again.

[Meddol]

Lucky bastard haha

[drakahn]

Its amazing how close to "expected" my latest satoshi dice bot is doing, if perfect i would be 140% up in 12000 bets, but with a few loss streaks longer than is worth chasing i am only 20% up, if i had of stopped at the last 'loss' i would be 2% down... of course, the earlier versions of it are all 100% down

[zoinky]

Oh also, the best way to play SatoshiDice is using an ewallet account from Blockchain.info/wallet.  Inside the wallet, click on the Send Money tab, then on the left side you'll see a SatoshiDice link. The transactions are usually processed faster through this method, and Blockchain.info made a really nice interface IMO.

I've looked at this tab but I am curious if the funds that are used to play the game are randomly chosen from your addresses?  I wouldn't want funds from my Savings address to be pulled to play, can your tell blockchain.info which address you'd like to use?  I don't see it, atleast without committing to betting.

[nrb]

Given the following parameters:

Starting Bankroll: 30BTC
Starting Bet: 3 BTC
Bet Increase Factor: 2
Game: "lessthan 32768"

Running some simulations came to approximately a 13% chance of ending with 150 BTC. In which case it's probably better to just play "lessthan 12000" which gives you a 18.3105% at 5.335x your money.