Damn it I just lost all my bitcoins | Bitcointalksearch.org

boumalo

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Quote from: trashymonkey on May 27, 2014, 08:52:37 PM

So I just lost all my btc saving (1.6 btc) by gambling, in about a half hour. I lost just a little bit, and of course I gambled a little more trying to make it back. I lost even more, so I started putting even more to try to make up. Eventually I found myself down to .4, and I put it all down, and thought maybe I would double my money, and just stop at .8.

Well I lost that too, so now I am completely broke. I feel like such a schmuck. I honestly don't feel that I have a problem with gambling (probably have maybe 3-4 hours of online gambling experience under my belt) and one trip to Atlantic City, where I spent 50 bucks (which was "fun money" that I already figured was spent). I've never done anything so foolish before!

Now I'm flat broke. Like I have 5 dollars in my wallet, and that is it.

I don't really know where I'm going with this, I just feel like a jackass Sad

If you never gamble more than you can afford in your life it will be a very cheap lesson; if you only do your big mistakes once you will become extremely rich and happy

Try to save again and buy some BTC and you will forget about this story

Quote from: Gimmelfarb on May 27, 2014, 08:59:30 PM

when it comes to gambling -- and i don't recommend it -- you need to have bankroll management. betting 1/2 or all your bankroll at once is a sure way to lose it all, every single time (because once you win once, twice or even a third time you will eventually lose it all)

If you play at a casino game, the more you play the more you expect to lose; no betting strategy is going to help your expected return, it can only help having more fun

DrG

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If you gambled it away wasn't it more like throwing it away rather than losing it since that's what ends up happening to gambling money in the end. Having said that I lost $3.2K on a bad blackjack hand once. I was counting on couple decks and I had 20 and dealer had 12... of course 21 shows up ...fuuuu

Ron~Popeil

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Activity: 406

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Quote from: bitbaby on June 06, 2014, 10:28:58 PM

Quote from: trashymonkey on May 27, 2014, 08:52:37 PM

So I just lost all my btc saving (1.6 btc) by gambling, in about a half hour. I lost just a little bit, and of course I gambled a little more trying to make it back. I lost even more, so I started putting even more to try to make up. Eventually I found myself down to .4, and I put it all down, and thought maybe I would double my money, and just stop at .8.

Well I lost that too, so now I am completely broke. I feel like such a schmuck. I honestly don't feel that I have a problem with gambling (probably have maybe 3-4 hours of online gambling experience under my belt) and one trip to Atlantic City, where I spent 50 bucks (which was "fun money" that I already figured was spent). I've never done anything so foolish before!

Now I'm flat broke. Like I have 5 dollars in my wallet, and that is it.

I don't really know where I'm going with this, I just feel like a jackass Sad

Why were you gambling when you already had 1.6 BTC? you should have just hodled it. what strategies were you playing with?

Chasing losses will always bit you. I have seen people dropping 10 btc bets on some of these sites.

bitbaby

hero member

Activity: 812

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Quote from: trashymonkey on May 27, 2014, 08:52:37 PM

So I just lost all my btc saving (1.6 btc) by gambling, in about a half hour. I lost just a little bit, and of course I gambled a little more trying to make it back. I lost even more, so I started putting even more to try to make up. Eventually I found myself down to .4, and I put it all down, and thought maybe I would double my money, and just stop at .8.

Well I lost that too, so now I am completely broke. I feel like such a schmuck. I honestly don't feel that I have a problem with gambling (probably have maybe 3-4 hours of online gambling experience under my belt) and one trip to Atlantic City, where I spent 50 bucks (which was "fun money" that I already figured was spent). I've never done anything so foolish before!

Now I'm flat broke. Like I have 5 dollars in my wallet, and that is it.

I don't really know where I'm going with this, I just feel like a jackass Sad

Why were you gambling when you already had 1.6 BTC? you should have just hodled it. what strategies were you playing with?

snaildvorak

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read this story https://bitcointalksearch.org/topic/pizza-for-bitcoins-137
I'm sure you will feel much better

leepsteer00

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Activity: 574

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Quote from: junshong on June 01, 2014, 02:28:24 AM

Never bet what you cannot afford to lose.

Totally agree with that. Unless you have plenty of money waiting to be given out to the casino.

beetcoin

sr. member

Activity: 434

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i made a bet with keithers.. so i may have lost .1 btc. but it's okay, i can deal with losing that. that's the mentality i think the OP should adopt.

sj2199

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BBOD fast, non-custodial & transparent Exchange

i also lost 0.1btc gambling but thank god ,a power cut saved my rest of money

ahmedjadoon

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Quote from: ashe on May 31, 2014, 03:02:10 PM

Quote from: ahmedjadoon on May 31, 2014, 02:35:09 PM

I feel sorry for you.I guess that's why gambling in prohibited in my religion Islam.

Oh really? I didnt know gambling is religion specific.

So what happens if you are from Islam, american born raised and you gamble? do you go to hell or something?

Or is it more of a shame on your kind of thing.

Gambling, drinking etc are prohibited due to self harm and other evils associated with them and Islam is same for all its followers living everywhere in world.

junshong

full member

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Hi!

Never bet what you cannot afford to lose.

Kluge

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Quote from: ashe on May 31, 2014, 03:02:10 PM

Quote from: ahmedjadoon on May 31, 2014, 02:35:09 PM

I feel sorry for you.I guess that's why gambling in prohibited in my religion Islam.

Oh really? I didnt know gambling is religion specific.

So what happens if you are from Islam, american born raised and you gamble? do you go to hell or something?

Or is it more of a shame on your kind of thing.

A fair number of Christian denominations don't gamble, either, sometimes justified with a story that Jews gambled on how long Jesus would live on the crucifix, which makes it particularly vulgar to some sects. It's basically considered a waste of precious life, and usually harmful to self, sometimes an addiction. Generally, self-harm (and unnecessary harm in general) is considered an insult to God, disrespect toward His creations. He probably won't eternally damn you just on that, though (for those believing in Hell). Fwiw.

ashe

newbie

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Quote from: ahmedjadoon on May 31, 2014, 02:35:09 PM

I feel sorry for you.I guess that's why gambling in prohibited in my religion Islam.

Oh really? I didnt know gambling is religion specific.

So what happens if you are from Islam, american born raised and you gamble? do you go to hell or something?

Or is it more of a shame on your kind of thing.

ahmedjadoon

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I feel sorry for you.I guess that's why gambling in prohibited in my religion Islam.

Nobitcoin

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In holiday we trust

Well join the club! Lost around 3btc to primedice (my favourite place to lose). Hope you feel better now Grin

onlinepro

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Activity: 714

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Well, I hope you learned your lesson, never gamble.

Argwai96

legendary

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Thug for life!

When I played dice, I used a variant of Martingale and did alright. Took profits early on every good run because inevitably you always, always end at zero (since you don't have a never-ending roll). Sorry to hear...

keithers

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Activity: 1456

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This is the land of wolves now & you're not a wolf

Quote from: ArbatDeli on May 30, 2014, 03:51:13 PM

if you gamble, you have to have a better system. google "bankroll management" to see what % of your bankroll you should use on any one bet

This sounds like advice coming from an online poker player Wink

Phinnaeus Gage

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Bitcoin: An Idea Worth Spending

Quote from: ARGpentem on May 30, 2014, 07:14:54 PM

did the SAME exact thing myself about a year ago. never rolled dice like that again....

I remember my first Omaha8 session and sweeping two back-to-back monster posts, both times with Quad Jacks. I thought I mastered the game as I was up over a grand. Later that night I went bust. Now, I can play and beat the game sans even looking at the cards (quasi-literally).

I knew of a team that traveled the country playing $1 slot machines via $2 token with the machine only registering 1 credit ($1), and were making a killing... Til they got arrested - twice. The first time, a judge tossed out the case because he won't accept the fact that the casinos were losing money with such a crazy proposition. The prosecutors did a better job the second time around in getting the charges to stick.

These guys were so good at their craft, that they pulled off this scheme right in front of security that they buddied up with, but would have turned them in if they had a clue as to what was up.

Sans any foreign objects used (just the coins, one a time, played regularly like a normal token), can you figure out how such was accomplished? It's genius once you learn how.

Kluge

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Low-stakes poker with friends. Everything else can go to Hell. (except Dragon's Tale, where I had the odd opportunity to buy an account once where it was nearly ev neutral and came out ahead, then gave the account back without a second thought)

Nathonas

sr. member

Activity: 280

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Knowledge is Power

Quote from: ?? on ??

It's hard to bash gambling when many of us have signatures promoting it.

Haha. The way I look at it though, there is nothing wrong with gambling with money that you can afford to lose. But people like OP (and myself) were gambling with money they couldn't afford to lose.

Topic: Damn it I just lost all my bitcoins (Read 3290 times)