Double or Nothing - page 2. | Bitcointalksearch.org

tabas

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Quote from: ghostbook on September 20, 2016, 07:59:05 AM

Here's a thought experiment

If I offered you $100, you could take it and walk away.
Or, you could double it or lose it all based on a coin flip.

Now, you're presented with a situation where if you take the double down, and you lose, have you really lost anything?
You never had anything to begin with until I made you this offer. Would you feel regret for not taking the $100 in the first place?

Thoughts? Grin

Well if I will become on that situation I will make the wisest decision, if the condition is to make it double by just coin tossing then I won't risk that money even that is just came from free giveaway or gift. I will just going to walk away and say thanks to you. And will invest into something better even though it will take a lot of time to make it double but I lesser chance of losing it.

joshv06

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Quote from: gabmen on October 25, 2016, 05:23:23 AM

Quote from: ghostbook on September 20, 2016, 07:59:05 AM

Here's a thought experiment

If I offered you $100, you could take it and walk away.
Or, you could double it or lose it all based on a coin flip.

Now, you're presented with a situation where if you take the double down, and you lose, have you really lost anything?
You never had anything to begin with until I made you this offer. Would you feel regret for not taking the $100 in the first place?

Thoughts? Grin

I think i'd rather take the money and walk away and then have something a little more productive to do with it. Yeah the money was not hard earned but you have it already why waste it in a coin toss where you're not sure of the result when you can spend it somewhere else

Even if its a free money we should always respect it and instead of wasting it in gambling its good to buy some useful things with it or spend it on some good food where it will give you a good level of satisfaction.

gabmen

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Quote from: ghostbook on September 20, 2016, 07:59:05 AM

Here's a thought experiment

If I offered you $100, you could take it and walk away.
Or, you could double it or lose it all based on a coin flip.

Now, you're presented with a situation where if you take the double down, and you lose, have you really lost anything?
You never had anything to begin with until I made you this offer. Would you feel regret for not taking the $100 in the first place?

Thoughts? Grin

I think i'd rather take the money and walk away and then have something a little more productive to do with it. Yeah the money was not hard earned but you have it already why waste it in a coin toss where you're not sure of the result when you can spend it somewhere else

ymer

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Quote from: geniusboy91 on October 25, 2016, 03:29:13 AM

even though i like to gamble, but i wont take the chance, i will keep the money in my pocket and walk away, even though I wont lose anything but i will feel regret if i lose the 100$, so i feel better accepting the 100$ rather than 200$ but has the chances of losing it all

Smart move will be to take $100 and walk away from there as something is always better then nothing and if we choose to gamble then we may win in first or second round and that will make us to gamble more which will result in loosing everything at the end of the day.

choppork

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I would probably just say thank you and then walk away. There's blessing already, all I have to do is take it. This situation is very similar to when a gambler goes to positive profit. Will he continue betting or not? If he lose the round, it's okay because he basically didn't lose anything since it was just his profit. But the point is that if you're going to continue having that mindset, then you'll be stuck in that loop and never be able to stop gambling unless you lose everything.

geniusboy91

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even though i like to gamble, but i wont take the chance, i will keep the money in my pocket and walk away, even though I wont lose anything but i will feel regret if i lose the 100$, so i feel better accepting the 100$ rather than 200$ but has the chances of losing it all

20kevin20

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I prefer talking the money and walking away with it. Double down means a 50% chance of win which is too low. And with the luck I always had lately.. I wouldn't go for it. Cheesy

I'm trying to stay away from gambling as much as I can.

Universat

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i am not in favour of double or nothing formula, to me you should always do gambling in a limit and never exceed that limit if you want to minimize your risk of loosing money, if you will play gambling on the formula Double or Nothing then you will only play a single game and will become out of money very soon.

The Sceptical Chymist

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I would absolutely take the $100. I have much better uses to put it to than to gamble it away--at least not in the way that OP suggested. I'd put it toward shares in a good dividend-paying stock and make it work for me. 50/50 is just chance, and I never liked those odds. Not in medicine, not in money.

HarryKPeters

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Quote from: tbterryboy on September 25, 2016, 12:53:55 AM

Quote from: Script3d on September 24, 2016, 11:08:20 PM

i would take the 100$ instead of gambling it because you might lose all and 100$ is a little bit big but for those who is greedy they would choose to gamble it instead i know its 49% chance of winning

You are right. Instead of risking our chances, going with immediate money must be a very clever option. Because gambling is known for losing all over bankroll at any point of time so going for gambling must be equalvanet to throwing out our money into fire.

I have to agree with this since chances you win are slim, no matter in which casino you play or make a play.
Going all in will not change your ods, and unless it is cards, you better be very carefull.

actmyname

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Spear the bees

Quote from: ghostbook on September 24, 2016, 11:24:17 PM

I seems pretty split between people who would take it and those who'd try and double it.

For those who would just take the money, what if I said, not double... but,

2.2x ? or 2.5x ?

Surely you'd take 3x?
Turn your sure thing of $100 and take a 50:50 chance to triple it?

What multiplier would you accept to take the bet?

Now, this actually changes things. Even x2.0001 changes it (if we're talking pennies as the lowest denomination.

Since it's now +ev to gamble, I would do so. It takes some detachment of emotion to gamble properly with odds in your favor. Sure, there's the chance that I lose. But out of the possible outcomes, the pros outweigh the losses. You would do it at those odds even if it were your money.

Originally, a 0 ev game would yield the same result on average whether you played or not: +$100

A +ev game here yields a slightly higher average: +100.01 (at 2.0001x)

Always choose the smarter option. Probability wins.

tbterryboy

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Quote from: Script3d on September 24, 2016, 11:08:20 PM

i would take the 100$ instead of gambling it because you might lose all and 100$ is a little bit big but for those who is greedy they would choose to gamble it instead i know its 49% chance of winning

You are right. Instead of risking our chances, going with immediate money must be a very clever option. Because gambling is known for losing all over bankroll at any point of time so going for gambling must be equalvanet to throwing out our money into fire.

deadlyunknown

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Quote from: ghostbook on September 20, 2016, 07:59:05 AM

Here's a thought experiment

If I offered you $100, you could take it and walk away.
Or, you could double it or lose it all based on a coin flip.

Now, you're presented with a situation where if you take the double down, and you lose, have you really lost anything?
You never had anything to begin with until I made you this offer. Would you feel regret for not taking the $100 in the first place?

Thoughts? Grin

Not bad, but the question is, are you generous enough to offer such amount? Everyone loves free money, you know.

molsewid

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Quote from: ghostbook on September 20, 2016, 07:59:05 AM

Here's a thought experiment

If I offered you $100, you could take it and walk away.
Or, you could double it or lose it all based on a coin flip.

Now, you're presented with a situation where if you take the double down, and you lose, have you really lost anything?
You never had anything to begin with until I made you this offer. Would you feel regret for not taking the $100 in the first place?

Thoughts? Grin

That's a very good offer that i ever heard on this forum the other thread will give us cancer because of sh*t post and replies if you are going to offered me $100 dollars i would accept that for sure and i will accept the fact that i need to risk $100 dollars to double it or to triple it maybe ? Coin Flip for me is 50/50

RoommateAgreement

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Bazinga!

Quote from: ghostbook on September 20, 2016, 07:59:05 AM

Here's a thought experiment

If I offered you $100, you could take it and walk away.
Or, you could double it or lose it all based on a coin flip.

Now, you're presented with a situation where if you take the double down, and you lose, have you really lost anything?
You never had anything to begin with until I made you this offer. Would you feel regret for not taking the $100 in the first place?

Thoughts? Grin

this sounds like a good experiment because of the free money Grin

but in all seriousness i think the real gamblers will take the bets instead of the money and those who said we take the money and go away are not gamblers and are only thinking about the money in all of this not the fun of gambling.

and by the way i think i am going to take the bets instead and make a couple of them.

ghostbook

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I seems pretty split between people who would take it and those who'd try and double it.

For those who would just take the money, what if I said, not double... but,

2.2x ? or 2.5x ?

Surely you'd take 3x?
Turn your sure thing of $100 and take a 50:50 chance to triple it?

What multiplier would you accept to take the bet?

Script3d

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i would take the 100$ instead of gambling it because you might lose all and 100$ is a little bit big but for those who is greedy they would choose to gamble it instead i know its 49% chance of winning

milewilda

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Quote from: chixka000 on September 24, 2016, 11:10:19 AM

I would take that $100 and i would gamble it as you wish too but i would only spend the 50% of it and then the other 50% would be invested in the same bankroll if lose then i still got my 50% lol haha am i just making sense here?

Well, you are just adjusting your bet amount. lol. You dont intend to put in all in single bet, if we decide to all in on $100 then loss then you have no chance to play again compare when you are betting with 50% which would somehow give us chance if we lose the 50% initially but it wont guarantee you to win the next bet since it does only matter on luck you had if the result is still the same then move on because its just a giveaway though. lol

Jerusalem.

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Double or nothing? This like depends to you how make 100$ be better. Much way to make this double or more than.

chixka000

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I would take that $100 and i would gamble it as you wish too but i would only spend the 50% of it and then the other 50% would be invested in the same bankroll if lose then i still got my 50% lol haha am i just making sense here?

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