Topic: losing 50 bitcoins gambling - page 12. (Read 7917 times)

Quote from: Soranith on October 14, 2017, 12:10:00 PM

How would you feel if you lost 50 btc after gambling... https://nitrogensports.eu/betslip/92ff9f2dmRCeSttM0U0a1dPZ0tTSDd4OW4vZz09/r/2744 What's the biggest loss you've taken before, and do you have any good coping strategies? I do wonder if it's better or not to express anger or to just try and ignore it as best as possible. Personally I just get angry and yell some swears, but curious how other people react when losing and any tips on coping.

In the event that I lost 50 bitcoins in a gamble, then I would inevitably be depressed and reflect on my actions as an individual with priorities. That is primarily the reason why gambling has the potential in destroying your life when it comes to decision making. It creates this endless illusion of you betting and betting again regardless of your winnings or losings. Gambling can never be profitable in the long-run and that link is the living example of it especially when YOU DO NOT KNOW WHEN AND HOW TO STOP gambling.

Can you imagine losing something close to 300k dollars in a few hours? I will be devastated, that amount of money is enough in my country to buy several properties, and if you hold for a long time and the price of bitcoin becomes higher that could be enough to retire and never have to work again.

Only rich people can gamble so much money like that in few hours and if it's a rich person there is much more money besides the 50 BTCs lost on gambling game. So I think this person wouldn't become mad about it... Probably this person would recover the 50 BTCs really fast with investments or income from any kind of rentable business. We think this is extreme because we don't have much money on our pockets like these big gamblers. Cheesy

But how rich you need to be to be able to lose 50BTC and not regret even if someone had like 1000BTC losing 50 BTC is still 5% of your whole net worth and that is always going to hurt no matter who you are, so unless that person is a whale then he felt that loss.

Getcoinsite

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When he losses 5 btc.he should have realize that luck wasnt on him.and stopped right away.why waited for 50btc .its a big loss that can change life for good.if he only valued the BtC as fiat

milewilda

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Quote from: milewilda on October 14, 2017, 12:00:29 PM

Quote from: equator on October 14, 2017, 10:36:08 AM

Quote from: marlboroza on October 14, 2017, 09:29:37 AM

Quote from: paul00 on October 14, 2017, 09:12:37 AM

If i lost 50 bitcoins in gambling with the current rate now, oli would probably call myself an addict. Funny but it's already equivalent to millions in our currency and being able to lost that much is not a good thing. Maybe regret that i lost it thru that and for sure will make a lesson for me to always set limitations especially in gambling for it's really tempting.

Yes, but this was in may 2016. when bitcoin price was 400$, $20K can't be compared to $300K.
Probably this player had $20K which he could afford to lose, I know it sounds big to you and me and most people here, but rich people are gambling too and this is probably nothing to them.

What you told is correct as this bet is in btc that is why it make difference because of when the bet was made that time btc price was very low and if you calculate in usd then that much of bet as usually made by big gamblers so it wont have affected him, but thinking of betting with this much high bet you wont have guts to bet it. and even the gambling site also wont support that much high bets.

On those times those gamblers wouldnt really be affected but yet 50 bitcoins on those times is still big and only a whale could afford to do make such betting. If we do try to look on its current rate on that 50 bitcoins it is almost $285k which it is really too much on wasting up playing gambling and for sure gambler would remember this moment will surely regret on how much cost did he lost up.

They probably did not think that bitcoin price will skyrocket and only bought bitcoin for the sake of gambling. And yes even if bitcoin at that time is just $400 its still a big money to waste he must be very rich man who throw away his $20,000 money in gambling.

This is reality which there are really people who can really take the risk on putting or using huge money in gambling we cant really force them not to so such thing since they do really have the capability on playing on those ranges which it is actually have the advantage if you have bigger bankroll but the risk is more higher.Even throwing $1000 on gambling already give me the hesitation how much more on that amount.

Caladonian

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Quote from: acquafredda on October 20, 2017, 05:46:52 AM

I think to gamble my bitcoins has been my worst mistake in the crypto life so far. I should have never used them to play casinos and stuff.
On the long run the house always wins.

good for you to have this lesson in life and make sure that you will able to quit and never to come back, gambling is not for everyone those who can survive
with this activity are those who can afford to control their emotions and knows what is there limitations.

Betwrong

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Quote from: michkima on October 20, 2017, 05:42:36 AM

Quote from: cockers on October 20, 2017, 05:33:50 AM

Quote from: serjent05 on October 20, 2017, 01:29:51 AM

Quote from: mirakal on October 17, 2017, 09:08:33 AM

Quote from: acquafredda on October 20, 2017, 05:46:52 AM

If I'm not mistaken 1 bitcoin way back 2016 is $800 (correct me if I'm wrong at this). And by computing 50 bitcoins x $800 = $40,000 dang that's a lot of money thinking about the price was at that rate. It's even more hurtful if you'll trying to compare the price right now 50 bitcoins x $5,500 = $275,000 look at the difference that's totally a lot of money. I'll never do such a mistake just like this, felt sorry for niagwai.

If we only know what will happen in the future then we will not gamble that money will just hold it, the thing is at the time we gamble we only think of it's value in fiat that's why we allow it to be spent, but who would think of losing, it's just happen that we are unlucky at that time.
It's not actually on my range, I never spend that big number of bitcoin for gambling, I would even cry hard if I lose 1 btc in gambling.

There's no way to know what will happen in the future and everything is just speculation when it comes to the price of bitcoin. And we as gamblers we have to be responsible with our funds and we should make sure that we are doing the right thing about it. It's why limiting ourselves when we gamble is the right thing to do and you are not the only one that will cry if you lose 1 bitcoin and even me at 0.5 BTC.

I agree the problem with player that have no control over themselves is that they keep on going as long as they have fund. Going all out then regretting when his bankroll got depleted. We as a gambler should be responsible just like what bhadz stated. We should act accordingly and adjust our selves in a way that we can minimize losses. Let us not make ourselves be drifte on the river of greed and drown on the idea of chasing losses.

Yeah the guy is stupid to think he would win that bet. I would not have risked a lot of money to do this.

There are three things to be considered here. The gambler that did this bet would either be an early adopter of bitcoins with thousands and thousands of bitcoins in his wallet, or he is super rich and has a lot of money to waste in gambling (probably he's bill gales, lol), or maybe he is an addicted gambler that tried his luck at it and miserably failed to do so.

He's one of the early adopters most likely. I think some of those guys have so much BTC we can't imagine. So we shouldn't compare their feelings when they lose 50 BTC to what we would feel being on their place because probably that's much less than 1% of what they are holding.

romero121

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I think to gamble my bitcoins has been my worst mistake in the crypto life so far. I should have never used them to play casinos and stuff.
On the long run the house always wins.

On the long run house makes the winning compared to the profiting that users experience. With gambling I've gained good experience about the money management as well the skills required for the goodness of gambling. As the thread states, losing such a bigger amount is not fair, because with the current price user could easily lead an much sophisticated living.

acquafredda

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I think to gamble my bitcoins has been my worst mistake in the crypto life so far. I should have never used them to play casinos and stuff.
On the long run the house always wins.

michkima

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Quote from: cockers on October 20, 2017, 05:33:50 AM

Quote from: serjent05 on October 20, 2017, 01:29:51 AM

Quote from: mirakal on October 17, 2017, 09:08:33 AM

Quote from: serjent05 on October 20, 2017, 01:29:51 AM

If I'm not mistaken 1 bitcoin way back 2016 is $800 (correct me if I'm wrong at this). And by computing 50 bitcoins x $800 = $40,000 dang that's a lot of money thinking about the price was at that rate. It's even more hurtful if you'll trying to compare the price right now 50 bitcoins x $5,500 = $275,000 look at the difference that's totally a lot of money. I'll never do such a mistake just like this, felt sorry for niagwai.

If we only know what will happen in the future then we will not gamble that money will just hold it, the thing is at the time we gamble we only think of it's value in fiat that's why we allow it to be spent, but who would think of losing, it's just happen that we are unlucky at that time.
It's not actually on my range, I never spend that big number of bitcoin for gambling, I would even cry hard if I lose 1 btc in gambling.

There's no way to know what will happen in the future and everything is just speculation when it comes to the price of bitcoin. And we as gamblers we have to be responsible with our funds and we should make sure that we are doing the right thing about it. It's why limiting ourselves when we gamble is the right thing to do and you are not the only one that will cry if you lose 1 bitcoin and even me at 0.5 BTC.

I agree the problem with player that have no control over themselves is that they keep on going as long as they have fund. Going all out then regretting when his bankroll got depleted. We as a gambler should be responsible just like what bhadz stated. We should act accordingly and adjust our selves in a way that we can minimize losses. Let us not make ourselves be drifte on the river of greed and drown on the idea of chasing losses.

Yeah the guy is stupid to think he would win that bet. I would not have risked a lot of money to do this.

There are three things to be considered here. The gambler that did this bet would either be an early adopter of bitcoins with thousands and thousands of bitcoins in his wallet, or he is super rich and has a lot of money to waste in gambling (probably he's bill gales, lol), or maybe he is an addicted gambler that tried his luck at it and miserably failed to do so.

cockers

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Quote from: mirakal on October 17, 2017, 09:08:33 AM

If I'm not mistaken 1 bitcoin way back 2016 is $800 (correct me if I'm wrong at this). And by computing 50 bitcoins x $800 = $40,000 dang that's a lot of money thinking about the price was at that rate. It's even more hurtful if you'll trying to compare the price right now 50 bitcoins x $5,500 = $275,000 look at the difference that's totally a lot of money. I'll never do such a mistake just like this, felt sorry for niagwai.

If we only know what will happen in the future then we will not gamble that money will just hold it, the thing is at the time we gamble we only think of it's value in fiat that's why we allow it to be spent, but who would think of losing, it's just happen that we are unlucky at that time.
It's not actually on my range, I never spend that big number of bitcoin for gambling, I would even cry hard if I lose 1 btc in gambling.

There's no way to know what will happen in the future and everything is just speculation when it comes to the price of bitcoin. And we as gamblers we have to be responsible with our funds and we should make sure that we are doing the right thing about it. It's why limiting ourselves when we gamble is the right thing to do and you are not the only one that will cry if you lose 1 bitcoin and even me at 0.5 BTC.

I agree the problem with player that have no control over themselves is that they keep on going as long as they have fund. Going all out then regretting when his bankroll got depleted. We as a gambler should be responsible just like what bhadz stated. We should act accordingly and adjust our selves in a way that we can minimize losses. Let us not make ourselves be drifte on the river of greed and drown on the idea of chasing losses.

Yeah the guy is stupid to think he would win that bet. I would not have risked a lot of money to do this.

serjent05

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Quote from: mirakal on October 17, 2017, 09:08:33 AM

Quote from: michkima on October 19, 2017, 10:27:16 PM

If I'm not mistaken 1 bitcoin way back 2016 is $800 (correct me if I'm wrong at this). And by computing 50 bitcoins x $800 = $40,000 dang that's a lot of money thinking about the price was at that rate. It's even more hurtful if you'll trying to compare the price right now 50 bitcoins x $5,500 = $275,000 look at the difference that's totally a lot of money. I'll never do such a mistake just like this, felt sorry for niagwai.

If we only know what will happen in the future then we will not gamble that money will just hold it, the thing is at the time we gamble we only think of it's value in fiat that's why we allow it to be spent, but who would think of losing, it's just happen that we are unlucky at that time.
It's not actually on my range, I never spend that big number of bitcoin for gambling, I would even cry hard if I lose 1 btc in gambling.

There's no way to know what will happen in the future and everything is just speculation when it comes to the price of bitcoin. And we as gamblers we have to be responsible with our funds and we should make sure that we are doing the right thing about it. It's why limiting ourselves when we gamble is the right thing to do and you are not the only one that will cry if you lose 1 bitcoin and even me at 0.5 BTC.

I agree the problem with player that have no control over themselves is that they keep on going as long as they have fund. Going all out then regretting when his bankroll got depleted. We as a gambler should be responsible just like what bhadz stated. We should act accordingly and adjust our selves in a way that we can minimize losses. Let us not make ourselves be drifte on the river of greed and drown on the idea of chasing losses.

mharz

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Quote from: mrcash02 on October 19, 2017, 09:49:35 PM

Quote from: South Park on October 19, 2017, 02:59:30 PM

Quote from: qwertyup23 on October 14, 2017, 10:57:58 PM

Quote from: mrcash02 on October 19, 2017, 09:49:35 PM

How would you feel if you lost 50 btc after gambling... https://nitrogensports.eu/betslip/92ff9f2dmRCeSttM0U0a1dPZ0tTSDd4OW4vZz09/r/2744 What's the biggest loss you've taken before, and do you have any good coping strategies? I do wonder if it's better or not to express anger or to just try and ignore it as best as possible. Personally I just get angry and yell some swears, but curious how other people react when losing and any tips on coping.

In the event that I lost 50 bitcoins in a gamble, then I would inevitably be depressed and reflect on my actions as an individual with priorities. That is primarily the reason why gambling has the potential in destroying your life when it comes to decision making. It creates this endless illusion of you betting and betting again regardless of your winnings or losings. Gambling can never be profitable in the long-run and that link is the living example of it especially when YOU DO NOT KNOW WHEN AND HOW TO STOP gambling.

Can you imagine losing something close to 300k dollars in a few hours? I will be devastated, that amount of money is enough in my country to buy several properties, and if you hold for a long time and the price of bitcoin becomes higher that could be enough to retire and never have to work again.

Only rich people can gamble so much money like that in few hours and if it's a rich person there is much more money besides the 50 BTCs lost on gambling game. So I think this person wouldn't become mad about it... Probably this person would recover the 50 BTCs really fast with investments or income from any kind of rentable business. We think this is extreme because we don't have much money on our pockets like these big gamblers. Cheesy

I guess that's true, only rich people gamble this much. But there some people that believe their bet is a sure win because they studied it well or they think the bookies made a mistake or that they have some sort of insider tip, but in the end they lose. Because of the advantage they think they had, they bet a big amount and just lost it.

Even he or she rich losing that value are very very high amount. In our country on that amount you can buy big house and also a sports car. Losing that amount was so unforgettable, maybe you can't sleep on that. Moreover I know that your plan is to back in gambling casinos and try to play again until you reach back the amount you loose.

michkima

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Quote from: South Park on October 19, 2017, 02:59:30 PM

Quote from: qwertyup23 on October 14, 2017, 10:57:58 PM

Quote from: South Park on October 19, 2017, 02:59:30 PM

How would you feel if you lost 50 btc after gambling... https://nitrogensports.eu/betslip/92ff9f2dmRCeSttM0U0a1dPZ0tTSDd4OW4vZz09/r/2744 What's the biggest loss you've taken before, and do you have any good coping strategies? I do wonder if it's better or not to express anger or to just try and ignore it as best as possible. Personally I just get angry and yell some swears, but curious how other people react when losing and any tips on coping.

In the event that I lost 50 bitcoins in a gamble, then I would inevitably be depressed and reflect on my actions as an individual with priorities. That is primarily the reason why gambling has the potential in destroying your life when it comes to decision making. It creates this endless illusion of you betting and betting again regardless of your winnings or losings. Gambling can never be profitable in the long-run and that link is the living example of it especially when YOU DO NOT KNOW WHEN AND HOW TO STOP gambling.

Can you imagine losing something close to 300k dollars in a few hours? I will be devastated, that amount of money is enough in my country to buy several properties, and if you hold for a long time and the price of bitcoin becomes higher that could be enough to retire and never have to work again.

Only rich people can gamble so much money like that in few hours and if it's a rich person there is much more money besides the 50 BTCs lost on gambling game. So I think this person wouldn't become mad about it... Probably this person would recover the 50 BTCs really fast with investments or income from any kind of rentable business. We think this is extreme because we don't have much money on our pockets like these big gamblers. Cheesy

I guess that's true, only rich people gamble this much. But there some people that believe their bet is a sure win because they studied it well or they think the bookies made a mistake or that they have some sort of insider tip, but in the end they lose. Because of the advantage they think they had, they bet a big amount and just lost it.

mrcash02

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Quote from: qwertyup23 on October 14, 2017, 10:57:58 PM

Quote from: qwertyup23 on October 14, 2017, 10:57:58 PM

How would you feel if you lost 50 btc after gambling... https://nitrogensports.eu/betslip/92ff9f2dmRCeSttM0U0a1dPZ0tTSDd4OW4vZz09/r/2744 What's the biggest loss you've taken before, and do you have any good coping strategies? I do wonder if it's better or not to express anger or to just try and ignore it as best as possible. Personally I just get angry and yell some swears, but curious how other people react when losing and any tips on coping.

In the event that I lost 50 bitcoins in a gamble, then I would inevitably be depressed and reflect on my actions as an individual with priorities. That is primarily the reason why gambling has the potential in destroying your life when it comes to decision making. It creates this endless illusion of you betting and betting again regardless of your winnings or losings. Gambling can never be profitable in the long-run and that link is the living example of it especially when YOU DO NOT KNOW WHEN AND HOW TO STOP gambling.

Can you imagine losing something close to 300k dollars in a few hours? I will be devastated, that amount of money is enough in my country to buy several properties, and if you hold for a long time and the price of bitcoin becomes higher that could be enough to retire and never have to work again.

Only rich people can gamble so much money like that in few hours and if it's a rich person there is much more money besides the 50 BTCs lost on gambling game. So I think this person wouldn't become mad about it... Probably this person would recover the 50 BTCs really fast with investments or income from any kind of rentable business. We think this is extreme because we don't have much money on our pockets like these big gamblers. Cheesy

South Park

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Quote from: ilovefeetsmell on October 19, 2017, 10:01:33 AM

How would you feel if you lost 50 btc after gambling... https://nitrogensports.eu/betslip/92ff9f2dmRCeSttM0U0a1dPZ0tTSDd4OW4vZz09/r/2744 What's the biggest loss you've taken before, and do you have any good coping strategies? I do wonder if it's better or not to express anger or to just try and ignore it as best as possible. Personally I just get angry and yell some swears, but curious how other people react when losing and any tips on coping.

In the event that I lost 50 bitcoins in a gamble, then I would inevitably be depressed and reflect on my actions as an individual with priorities. That is primarily the reason why gambling has the potential in destroying your life when it comes to decision making. It creates this endless illusion of you betting and betting again regardless of your winnings or losings. Gambling can never be profitable in the long-run and that link is the living example of it especially when YOU DO NOT KNOW WHEN AND HOW TO STOP gambling.

Can you imagine losing something close to 300k dollars in a few hours? I will be devastated, that amount of money is enough in my country to buy several properties, and if you hold for a long time and the price of bitcoin becomes higher that could be enough to retire and never have to work again.

milewilda

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