Get one btc right away or 5 btc with a bet? - page 8.

wxa7115

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Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

If we were to apply game theory, the correct answer is to pick the 5 BTC with 2 to 1 odds, the reason for this is that out of the three possible outcomes you can get, two are negative, meaning you do not get anything, and one of them is positive, so you get the 5 BTC.

This means that on average your EV is 1.66 BTC for every single time you were offered to make this choice, which is higher than the 1 BTC that you were being offered by not taking any chances.

Bitinity

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Although it is just like an imaginary question since it will not happen in real life (may happen but in 1:1billion), I believe that most people will take 1btc away than take the chance to gamble for 5btc. 1btc is a decent amount for most people and with the current rate, it can be a life changing amount so I think those who will take the chance to gamble for 5btc are those who consider 1btc as small amount of money only aka rich people. Anyway, I do not really understand what is the main purpose of this question. Is it to know whether we are real gambler or not?

Lanatsa

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Quote from: arwin100 on March 12, 2024, 05:42:39 PM

Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

That's no brainer question and will provably take the 1 BTC since that is sure profit already. There's a lot of things we can buy from that so there's no use to gamble that and gain nothing. Although its quiet good to gamble that 5 BTC but I don't want to get nothing at the end so most provably 1 BTC is enough for me then I cash it out then enjoy it.

I'm a gambler but will not spend any time to get stress and worried if there's something left in my hand and I believe many will pick the 1 BTC since there's no other effort just to be done and you have sure money on hand.

If there would really be no strings attached into this one then i would really be definitely getting that 1 BTC any day and this is something that would really be a common thing. It is really just that there are
people who would really be taking the other option and play with it.I do agree into those points above that playing with higher amount could really be making your bets to be more versatile or something that
you could really be able to say that you could play even more, having the chance to make adjustments on which it could make that 5 btc to bit more higher and this is something that others been seeking that kind of possibility. This is why choices will differ into those people who are really that greedy and to those people who are tending to secure money for other purposes which it isnt really that a bad choice.
For those who are thinking investment then it is a wise choice in compared to those who are thinking about doing gambling.

danherbias07

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Get that 1 Bitcoin and run away.
I don't like taking more risk if there's another offer where it's safer. Let the gamblers do the gambling. With the value of Bitcoin today, just 1 will suffice to make me pay for things that need to be paid and maybe have a comfortable life for another 5-10 years. That should be enough to save more money for the future of my kids.
It's not about how big the other offer is, it's what is in front of you that needs to be considered. If you are a family man and that money would help "right now" then I'd rather take it.
Sure, 5 BTC will be a game changer but if there's a word "gamble" then glued with it is a risk and the probability to lose is higher than winning.

Orpichukwu

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Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

Are you really asking this question? I would rather take the 1 BTC and walk away without looking back than take a risk for which I don’t know what the outcome will look like.

This is gambling we are talking about here and not something we can be fully sure of, so instead of losing all the money because of my greed for the 5 BTC, I would rather take the 1 BTC and walk away without placing a bet.

arwin100

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Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

That's no brainer question and will provably take the 1 BTC since that is sure profit already. There's a lot of things we can buy from that so there's no use to gamble that and gain nothing. Although its quiet good to gamble that 5 BTC but I don't want to get nothing at the end so most provably 1 BTC is enough for me then I cash it out then enjoy it.

I'm a gambler but will not spend any time to get stress and worried if there's something left in my hand and I believe many will pick the 1 BTC since there's no other effort just to be done and you have sure money on hand.

AmoreJaz

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Quote from: Jaycoinz on March 12, 2024, 05:02:33 PM

For me I think I will definitely choose 1btc that requires no stress at all although I must admit that this is just an expression offline because I know alot of person would definitely be tempted to choice the 5btc and besides your greed is still there and some people can just really get out the fact that the figure is much more fatter and bigger than 1btc but the truth is that the possibility that comes with enjoying the 5btc is slim since it involves gambling it.

Greed is human nature, so no doubt a lot may opt for aiming the 5BTC with a bet. I, on the other hand, if I already have 1BTC, I may explore the business aspect, even if it is small to generate passive income. Also, I will add tangible assets that I can fall back into in case something goes awry with my investments.

Quote from: boyptc on March 12, 2024, 03:58:07 PM

Go away with 1 BTC and don't gamble? If this is it, I'll choose the safer option.

I might have 5 BTC but if the condition is to gamble that all then it makes no sense because I might just lose them all. Unlike with taking 1 BTC away and just go home effortlessly, that's what I'll choose.

So if the only condition is not to gamble or play then I'd be happy to accept that 1 BTC. Cheesy

But if you have the option to gamble some, maybe. But if it is either you take 1BTC or bet it to make 5BTC? It is understandable that many will choose the 1BTC already, as there is already assurance that you have money that way.

Onyeeze

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Quote from: cengsuwuei on March 11, 2024, 06:31:14 PM

My choice from the one you gave is that I will not use the 1 BTC I have just to gamble whatever the reward offer is as big as whatever the reward is, I will not use it to gamble. if for spot trading is ok.

gambling is a gambling and then when you give me such amount of BTC to enroll in gambling I don't think that I can use such values of BTC or amount of BTC to gamble because I know quite well that the dumpling is all about a risk and it is come the profitable by you or you lose whatever thing you have if I have such opportunity to gamble with the such amount of bitcoin I think that I will divide it into three and take one part of it to gamble in case if the gambling is against me then I will still have something to make use of it weather I use it for investment or I use it for driving I think that will be more profitable for me than using everything that I've been issues to me to gamble at once

Jaycoinz

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For me I think I will definitely choose 1btc that requires no stress at all although I must admit that this is just an expression offline because I know alot of person would definitely be tempted to choice the 5btc and besides your greed is still there and some people can just really get out the fact that the figure is much more fatter and bigger than 1btc but the truth is that the possibility that comes with enjoying the 5btc is slim since it involves gambling it.

Stable090

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Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

Yes, I am a gambler, and if I am given this kind of offer, then I will be going for 1 BTC without gambling rather than choosing 5 BTC with gambling. I know the risk involved in gambling, and I won’t want to lose everything to gambling. I know the 5 bitcoin is kind of much, and it’s ridiculous to choose 1 bitcoin over 5 bitcoin, but sometimes we don’t have to be greedy, and when taking risks, we should be careful, we shouldn’t take risks blindly, and we should know that when gambling, there is no assurance of winning, anything can happen at any moment, so I can’t just take that risk, I will rather go away with 1 bitcoin than lose the 5 bitcoin later.

Wexnident

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Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

I'd take it. I ain't dumb enough to lose money that's already in my hands to, well, more money that's NOT in my hands. Besides, in my current financial living situation, both of them pretty much equate to "big money" so rather thank taking the risk, I'd take the guaranteed one. I'd probably use a part of it to fuel my gambling which should be a pretty small part of it imo, and should be more than enough to satisfy my cravings.

The better idea for these types of questions is to get may be idk, 200-300% of their monthly income and then use that as the final (the one you're going to win if you bet) and their monthly income itself. That way the playing field is leveled/equal. I mean I reckon someone who can spend 1BTC in gambling in a month can have the luxury to afford to bet that 1BTC for 5, unlike us where 1BTC CAN be life changing.

Rabata

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Quote from: SmartGold01 on March 11, 2024, 06:30:31 PM

Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

It's said a bird at hand is worth more than a million in the forest; meaning I would rather take one bitcoin and walk away than spending them in the gambling site which I am not sure of my winning so why would I do that after knowing the rules and regulations of gambling. Even as they said gambling is a game of luck and chances and you expect me to go miss my chances of having one bitcoin to go gamble for the sake of winning of 5 bitcoin, is this normal if I may asked?

I think true gamblers will return to gambling no matter how big they win. If you give 1 btc to a ordinary gambler or a newbie then he will be calm with that btc because that btc is enough for him. But if a person who uses more than one BTC for gambling is told that he is satisfied with 1 BTC or not? I think the answer is no. That is, he expects more than that. This will be the case with almost every human being. If I say in my case like yours I don't need to gamble anymore if I get 1 btc. Also gambling is uncertain so I will try to passively earn that money by using it in some other way.

Ever-young

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Quote from: swogerino on March 12, 2024, 10:33:18 AM

Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

I am a gambler but also not stupid.I will take the 100% chance of 1 Bitcoin and out of it I will play max 0.25 Bitcoin to satisfy my gambling needs and stop after that.That second option may look much better but you have 50% chance and since I studied mathematics in university I learned that 100% is better than 50% no matter the value of 50% may be bigger.For me it is better a sure thing rather than gambling for x5 of that sure thing.

You know what they say, a bird in hand is better than 2 in the bush, but in the case, a Bitcoin in your wallet is way better than 5 Bitcoins you're not even sure of having. I believe the risk is just too much, and it goes against everything responsible gambling stands for. Gambling isn't a means to multiply your fortune or wealth, if you view it that way, you might end up loosing everything and left with nothing.

Only gamblers who allow greed cover their eyes would even dare to take such a risk.
In gambling, taking the sure thing over the risky option is like choosing a comfy couch over a bed of nails because you're simply playing safe and safe is very smart, not all risks are worth taking. Indeed the allure of a x5 win could be really tempting but your ability to control yourself, decide and stand your ground not to fall into that pit is what makes you a responsible gambler.

Becassine

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Quote from: acroman08 on March 11, 2024, 06:57:09 PM

I know this is just a hypothetical question thread but what do you mean by "with a chance of 2 to 1"? Do you mean that I can either get 1 btc or 2 btc if I chose the 5 btc after gambling it? if so, wouldn't the 5 btc be the best option since there was no mention of the possibility of not getting anything if you chose the 5 btc?

I'm sorry if my question was not clear.

You can have 1 btc without doing anything

or

Win 5 btc with 50% chance of winning (and 50% chance of losing everything)

Personally, I'm not gambling enough to risk missing out on a bitcoin. Bitcoin is too much precious Cool

Whether you're poor or rich (I'm not talking about the very rich), one bitcoin is already a lot. It's true that 5 btc can represent a family home, and even much more in some countries.

That's why I'm interested in your point of view. I like polls, they give you other perspectives.

Chibit01

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Quote from: rachael9385 on March 12, 2024, 03:27:46 PM

Quote from: Chibit01 on March 12, 2024, 03:20:56 PM

Quote from: DaNNy001 on March 12, 2024, 02:51:48 PM

Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

The more the merrier, I think I will definitely go with the 5btc besides there is no specification on the particular amount of games to be gambled on so I can choose to gamble it on a very low odd, maybe something like 0.5 goals not even caring about the odd.

But in the case where there is specification on what to do with the 5btc like a fix odd or a particular type of game then I will definitely choose the free money that doesn't require any risk at all.

Staking that huge amount of bitcoin is really a big risk which I know that with little odd of games that has high chances of winning you will definitely winning staking 5btc to even 1.0 odd is not bad you are still very safe to win such game 🎯 well I wish you good luck and with the strategy in which you are going to stake this game like your stated staking 5bitcoin with as low odd as 0.5 definitely you will win such staking I think so......

my reasons for laughing because there is no guarantee in winning mostly when it has something to do with gambling, gambling is all about luck and the odds you want to start are always against you.
Staking with 5 BTC on 1.0 odd is not also a sure stake because you might also loose the 5BTC as there is nothing like guarantee in gamble.
Gamble is all about luck and you can't do anything to win ones you aren't luck on your stakes.
However it's also advised to gamble with what you can afford to lose instant of gambling with what you can afford to lose.
Also it's advised to gamble with shitcoins instead of gambling with Bitcoin, Bitcoin is on the bull and when you gamble with Bitcoin you are losing more.
[/quote

chuuu comrade you are very right with all your comments because no gamble is sure no odd is easy to win but at least 0.5 odd has a very low risk of losing well like you said nothing is like sure in the world of gamble you only stake what you can bear to lose it is a game of chance and luck .....

boyptc

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Go away with 1 BTC and don't gamble? If this is it, I'll choose the safer option.

I might have 5 BTC but if the condition is to gamble that all then it makes no sense because I might just lose them all. Unlike with taking 1 BTC away and just go home effortlessly, that's what I'll choose.

So if the only condition is not to gamble or play then I'd be happy to accept that 1 BTC. Cheesy

Dzigie

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Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

Even when I bet, I prefer matches that I think are safe. Likewise, when I invest, I invest in projects that I think are solid. In other words, I always prioritize safer choices in every aspect of my life. If I was in such a dilemma, I would choose 1 BTC without much hesitation. By the way, I have to admit that I still don't own 1 BTC and I'm trying to own 1 BTC. In other words, 1 BTC also has a symbolic meaning for me.

coolcoinz

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From the poll I conclude that most people here are poor and see 1 BTC as a big deal. Of course if you offer someone from the West a million dollars now or 5 million with a bet he will probably take 1 million now because it's such a large amount of money.

I don't see 1 BTC as a lot of money, so I'd risk the bet. Mathematically it's a much better option because you get 2:1, and with such odds you should be getting 2BTC, but you're getting 5, so 2,5x the base amount. Just do the math guys, trying for 5 BTC is so much better! No casino would offer you such trade because they know you'd have a huge advantage. I'm not even mentioning that you're getting free money without having to risk anything, but pure odds are great for this money.

rachael9385

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Quote from: Chibit01 on March 12, 2024, 03:20:56 PM

Quote from: DaNNy001 on March 12, 2024, 02:51:48 PM

Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

The more the merrier, I think I will definitely go with the 5btc besides there is no specification on the particular amount of games to be gambled on so I can choose to gamble it on a very low odd, maybe something like 0.5 goals not even caring about the odd.

But in the case where there is specification on what to do with the 5btc like a fix odd or a particular type of game then I will definitely choose the free money that doesn't require any risk at all.

Staking that huge amount of bitcoin is really a big risk which I know that with little odd of games that has high chances of winning you will definitely winning staking 5btc to even 1.0 odd is not bad you are still very safe to win such game 🎯 well I wish you good luck and with the strategy in which you are going to stake this game like your stated staking 5bitcoin with as low odd as 0.5 definitely you will win such staking I think so......

my reasons for laughing because there is no guarantee in winning mostly when it has something to do with gambling, gambling is all about luck and the odds you want to start are always against you.
Staking with 5 BTC on 1.0 odd is not also a sure stake because you might also loose the 5BTC as there is nothing like guarantee in gamble.
Gamble is all about luck and you can't do anything to win ones you aren't luck on your stakes.
However it's also advised to gamble with what you can afford to lose instant of gambling with what you can afford to lose.
Also it's advised to gamble with shitcoins instead of gambling with Bitcoin, Bitcoin is on the bull and when you gamble with Bitcoin you are losing more.

Chibit01

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Quote from: DaNNy001 on March 12, 2024, 02:51:48 PM

Quote from: Becassine on March 11, 2024, 06:22:38 PM

It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

The more the merrier, I think I will definitely go with the 5btc besides there is no specification on the particular amount of games to be gambled on so I can choose to gamble it on a very low odd, maybe something like 0.5 goals not even caring about the odd.

But in the case where there is specification on what to do with the 5btc like a fix odd or a particular type of game then I will definitely choose the free money that doesn't require any risk at all.

Staking that huge amount of bitcoin is really a big risk which I know that with little odd of games that has high chances of winning you will definitely winning staking 5btc to even 1.0 odd is not bad you are still very safe to win such game 🎯 well I wish you good luck and with the strategy in which you are going to stake this game like your stated staking 5bitcoin with as low odd as 0.5 definitely you will win such staking I think so......

Topic: Get one btc right away or 5 btc with a bet? - page 8. (Read 1633 times)