Topic: Lost $350k / 54 BTC gambling, need help :( - page 2. (Read 16124 times)

Damn that's hard to read, although I must say I've been there myself. Not with your amounts, because I didn't get into bitcoin early, so I can't even imagine those numbers, but in terms of % of risk, based on my own bankroll I would say I lost the same and I did some crazy things.

I'm ok now, and I even got back to gamble from time to time, but I do it just for fun, and it's working for me. If you want to stay away from gambling, then I think you should, specially if you can't control yourself very well. Another thing you can do, in the future, is to create a gambling bankroll, a very small one, that you can afford to lose, and then just use that. If you feel calm with what you are risking, then you will not feel the need to recover it, if you lose it, since you are just doing for fun, and with that mindset, gambling becomes just another hobby.

That's a good choice holding your bitcoin until the price increase to the higher price compared to gamble it for nothing. That is why if you are feeling bored you can gamble but gamble that you can afford to lose and don't gamble day by day because it can affect your life behavior that may lose more bitcoins.

Anyway, to OP sorry for your lose and I hope you learn about your mistakes.

I have only 5 bitcoin’s & I cherish them, I’d never gamble with them. I am HODLING them until one day maybe they reach $100,000 each. I feel for you OP but at least you still have lots of money. Don’t make the same mistakes again!

Yes, I am Mannton456, I’m going to post it on the crypto-Games chat to prove it’s me. This is my story of loss.

I’ve always had a inclination for making reckless decisions. While I don’t gamble on a regular basis and prided myself on making sensible decisions, like investing in the bankroll of a bitcoin casino (to benefit from +EV), one day I decided to gamble with 3 BTC.

I won some bitcoins, and called it a day. The next day, I was bored and decided to give it another go. Lost everything. Now I don’t like losing, so my only strategy was to deposit almost 10x the amount - 20 BTC, and try to win it back again. I did and managed to turn it to 30 BTC. My heart was shaking and the adrenaline I had was incredible. I reinvested it in the site, and went to bed happy.

Unfortunately, the next day I decided to just do one bet of the entire balance, at 97% odds. I lost. Shit. I was operating in automatic mode and deposited a further 50 BTC, and tried to bet again. Lost again. I felt like ending my life.

I did something even more stupid and deposited another 70 BTC, almost the last remaining bitcoins I’ve had. Thankfully I was able to win back 30 BTC before I stopped and withdrew; putting my net loss at -54 bitcoins.

This is worth $350k USD. I am at a loss. I don’t think I will ever gamble again, but this is such an expensive lesson for me. I could’ve bought a house or apartment for that money. I could’ve bought 7 Tesla’s!

It’s also the first time I’ve lost anything more than $20 gambling. I don’t gamble a lot, and when I do it’s always with small amounts. But it was easy to see bitcoins as “not money” and that you’re just playing a game... with real money, and real life consequences.

I am someone in my 20s who got into cryptocurrency early. Thankfully, I do still have about $1.5 million in crypto and other investments, but losing 350k and 20% of your net wealth in the span of an hour is just... devastating to me. How did I end up risking $350k for a $18k loss?!

I’m having thoughts of going “all in” and trying to win it back. I know it’s a bad idea, a real bad one, but I’m someone who likes going big or going home.

I don’t know what to do at this point. I know I will survive, at least I’m not in debt, but fuck, I’m upset. I’m really depressed, and thoughts of killing myself have floated my mind.

The best at this time would be to take break and go out with friends or to some relatives place and get back to your life normally. It may take time but will be easier with known ones who will help you and advice for betterment and sooner the OP forgets about it and do not think much will help him to get normal in life.
 

The fact you ask help after huge losses means you actually don't want to kill yourself and face your problem.

The fastest way to solve your emotional problem is by keeping yourself busy, either with hobby, job or build deeper relationship with those you know. Even though asking for professional or family help would be better. You might want to use application such as https://freedom.to/ which block/hide application and websites and it's not limited to help gamblers, but many other addition as well.

I think I’ve accepted my loss and ready to move past.

I’m certainly not going to be chasing this loss, or gambling for money again. Any gamble like that is going to be things like poker night with my friends, with a $20 buy in.

The only thing that’s slightly bugging me, especially after the crypto crash, is... do I have “enough” money? Is $1.5m good enough? I know that amount of wealth puts me at the 10% in the US, and probably the top 1% for someone in my 20s, but god...  I was in the 1% once, and I want to be there again.

Maybe I need some perspective. Idk. Once you go from “spend money, ya have practically infinite money” (I gave away more than 100 BTC to family [good reason, don’t regret it one bit] and an ex [fuck I was dumb ]), to shit, money is finite and you only have a million and change... it’s an unpleasant realization but I think I’m missing perspective there.

That and whatnot. I’m going to continue what has worked out well for me, and what has allowed me to build this wealth that I had. Along with time and hopefully another crypto rally, I’ll be the 1% again. It’s only $10 million. 

But I will make it there. Through hard work, savings, and smart investments. Never gambling.

~snip~

I think I’ve accepted my loss and ready to move past.

I’m certainly not going to be chasing this loss, or gambling for money again. Any gamble like that is going to be things like poker night with my friends, with a $20 buy in.

The only thing that’s slightly bugging me, especially after the crypto crash, is... do I have “enough” money? Is $1.5m good enough? I know that amount of wealth puts me at the 10% in the US, and probably the top 1% for someone in my 20s, but god...  I was in the 1% once, and I want to be there again.

Maybe I need some perspective. Idk. Once you go from “spend money, ya have practically infinite money” (I gave away more than 100 BTC to family [good reason, don’t regret it one bit] and an ex [fuck I was dumb ]), to shit, money is finite and you only have a million and change... it’s an unpleasant realization but I think I’m missing perspective there.

That and whatnot. I’m going to continue what has worked out well for me, and what has allowed me to build this wealth that I had. Along with time and hopefully another crypto rally, I’ll be the 1% again. It’s only $10 million. 

But I will make it there. Through hard work, savings, and smart investments. Never gambling.

What if I can't stop gambling?
Gambling can become an addiction that can have serious negative effects on your life. If you lose more than you planned to, please check these sites for information that can help you: Help Guide, Wikipedia. Or, you can contact us and we'll block your account and/or IP address. We truly value our players and do not want our Casino to negatively affect their lives.

I'm saddened to hear you lost quite a few bitcoins gambling.  At least you were able to cut your losses before you lost everything.   One of the worst mistakes a gambler can do is to keep chasing their losses until they end up broke.

If you still have good health and a loving family your already rich.  The money can be fun but without health and relationships it really doesn't mean much.  Be grateful for what you have and don't take anything for granted.