Topic: Project 1BTC - page 4. (Read 1205 times)

I like the challenge you have taken but the process to achieve it is what I don't trust. I was reading Op and saw that you made $21 and it grew exponentially, and I was about believing your process until it crashed back to zero. This thread is teaching us something important, other than achieving 1BTC.

I am not comfortable in the whole process. It looks like accumulation of risks;
Owning BTC is a risk,
Playing Poker is a risk,
Investing in meme coins is a risk;
Trading is a risk;
The whole process is full of risk. Let's see how it goes.

I've been watching the thread and I think you've been playing without having the necessary bankroll, so I think it's good that you've cashed out. The goal you set for yourself is very high, and extremely difficult to achieve with freerolls. Now you say that you are going to combine several things to get there but if you invest/bet in something relatively safe you are going to get little profitability and if you do it in something risky you can be lucky and win a lot of money in a short time as it has happened to you now but you have a proportional risk of losing your money.

I see your plan, and it's not too risky if the amount is manageable. As a gambler, I know you’re good at managing risk. So far, you've already made a profit by day 4, which is impressive! Keep it up and keep impressing. One BTC might seem far off, but it’s definitely not impossible if you consistently save and stay disciplined.

For sure, I need a lecture (especially from an experienced member like you). I am just a newbie, and 'I know very well that I don't know' (Socrates) .
Most of my cryptocurrencies are stored in physical wallets. The reason I decided to have this  on an exchange is just for ease of access in the initial stages, as I have to move and convert funds frequently.
Although I have just converted my funds to SOL as I will be investing in some meme coins. Thanks for showing vigilance, as I completely agree with you that one should not store their cryptocurrencies on any centralized exchange, especially large amounts (subjective).

I don't think you need to be taught that you shouldn't keep your funds on the exchange. I can see you smiling( ), and I think you don't expect advice on storage. However, how about getting a hardware wallet and starting to invest bitcoins in it, with some amount that will be the initial investment on the way to success?

                                               DAY 4 UPDATE

The day started with losing every tournament I registered for. But then I played at cash tables and waited for some fish to catch. After waiting and grinding for many hands, I finally stacked one loose aggressive player.

This increased my total balance to $213. Now I have decided to cash out the whole amount since 200 USDT is the minimum cash out (if you are not depositing anything). I will now invest small amounts in different avenues. I want to invest in three different places, $50 each, and will continue playing poker with the remaining amount.
If you have any interesting suggestions, I would be much obliged.

Small update: I have received my cash out in my binance wallet.

You must have thought about 'Infinite monkey theorem' while supporting my vision for the challenge .



Joke aside. it feels so good that highly reputed members like you are paying attention to my thread. Your guidance and encouragement means so much to me. 

Possibly your skills at futures trading are better than your poker skills but that might not be true for everyone nor in particular for the O.P.

I could just as well claim that one has more chance using pasts of ancient vintage coins and years of experience working with their various generations of teams over long years, but has the O.P. that set of skills, knowledge and background?

I could see saying one would be better off using one's day-profession but the O.P. already informed us he or she already did that, that this adventure is a side-gig basically... Thus presumably one anyone who typically profits over time playing some game or other, at least if it is at least partly a player versus player game rather than a player versus "house odds" game, could hope to emulate.

-MarkM-

When I saw the title I thought 0 to 1btc from freerolls is going to be a long journey, but obviously I read the 1st post and saw that you will also be playing buyins. Still going to be a long journey, but 1 that can be achieved for sure with some patience, skill, and of course a little luck. We all know best hand preflop does not equal best hand on river.

Good luck, i'll be watching from time to time and see how you progress.

Is it all going to be generated from gambling? Sorry in advance not to be patronizing but I think trying to do with collecting bitcoins from gambling that is done I don't think it will go well because after all we know how gambling schemes are so although it is still possible if you are really good at it but I don't feel that it will be a realistic thing.

It would be better to try to make money with other methods than by doing it with gambling because after all even a big win can be wiped out by a big loss so even if you are still confident and excited but honestly I am skeptical that something like this can happen.

But this is just a form of advice because after all you are doing it yourself so you are free with the money you have to do bitcoin collection with whatever scheme you try to do but do try to slightly consider the suggestion to replace the method not with gambling.

Day 3 was a busy Sunday. I cashed out two tournaments for around 41$ (bought in with money earned through free rolls).
 
Then I played at cash tables and managed to win some decent hands which increased by bankroll to 130$+. I also secured a 5$ free bet for just participating in DG bet freeroll and I also have one unused from previous tournament.
.Surely, I am all ears! Thank you for your continuous support. Right now, I am focusing on poker for seed capital, but things will change as this challenge progresses.

From what he wrote, I wouldn't conclude that the OP has no money, but that he wanted to set a challenge with the goal of one day being able to have 1 BTC that way. Maybe any association with gambling is negative, but I can agree with the OP that poker is still a game of strategy and luck, and there are professional poker players in the world who make millions $ from it.

Maybe the OP should consider combining poker, signature campaign and DCA to achieve his goal - I think it's better to look at all possibilities than to focus on just one.

Seems a long shot & unlikely situation where you’re able to reach one Bitcoin this way. You’re far more likely to reach your goal by simply working hard & buying Bitcoin regularly, over a long period to get as much Bitcoin as possible. You probably have more chance using futures markets to get to one Bitcoin than winning in poker. I think the best option is just to DCA & keep building towards your goal though.

Yes, my updated balance ($21) is the profit even after an initial loss of $10 on day one, since I have not deposited anything in the first place.
Poker is definitely not gambling; it is a skill-based sport, and I can prove it to you mathematically. It is a PvP skill game where you can make +EV decisions every time, which is not possible in traditional gambling (you could argue for blackjack, but no matter how soundly you play, you cannot beat the house edge, assuming you are not counting cards). The same is the nature of meme coin investing; you have to research a lot to be profitable.
I know BTC and cryptos are different. All I want to show is that I have other coins apart from BTC, and to summarize, I used 'crypto' as a general term.
Thanks for showing continuous interest in this thread. Stay tuned.
 

If you subtract from that $20 the amount you lost in previous rounds that day, are you still in profit or did the day end with you spending more than you won?

Poker is gambling. Meme coins are get-rick-quick schemes.

I said bitcoin, you said crypto. Those are two different worlds and philosophies. Both use a blockchain in one form or the other, but they were created by their developers for different reasons.

You're welcome.
Consistency is the key here, no matter how long it takes as long as you get something everything whether it's low or mid-range amount per day. That's how you'll be able to make it. I'll check this thread once in a while and see how you're progressing with this journey that you have started.

Day 2 was average. I lost a couple of big ones but managed to get in the top 50 in a $1000 GTD and won $20. I also secured $1 in another freeroll.



Wow! Thanks for the much-needed motivation. You presented my approach to this challenge in a clear-cut sense (I have to admit even I could not have presented it this well). The way you philosophize—I mean, I always get so much positivity from you (if you remember our previous conversation). Thanks a lot!

I am trying to learn many things from this wonderful forum through wise and experienced members like you. Although I get the point, I will try harder. Regarding my starting point, I was indeed pondering many options like 0.001 to 1 BTC, 0.01 to 1 BTC, etc., but I thought it would be more interesting and relatable to the majority if I start with zero. BTW, you have a valid point here.
And about me losing $10 in winnings on the first day, it's just how poker works—you win some and you lose some—but if you make more right decisions, you will be in the green in the long term. So I will keep doing that until I reach a couple of hundred bucks.

Poker is not gambling; the same could be argued for well-researched investment opportunities like meme coins. I am not sure about your conceptual understanding of gambling, but mine says stay away from -ve and invest in +ve. Thanks for your insightful feedback. Stay tuned.



I do and I am invested in crypto for a decent part my portfolio.

Anything that can go wrong will go wrong, and at the worst possible time.' - Murphy's Law.
My only add-on is that it could also be said for 'right'.

I agree; with gambling, it will be too hard to achieve that. I wish I could find solace like you with my present financial condition.

At least it will be a wonderfully grounded start.

Thanks for the best wishes  . I will definitely try my best to be consistent.

I will be adding more graphs and screenshots later on as I will have more data. Thanks for the positive vibes.

Haha, I consider myself a barely average player (who knows a thing or two about the game ). Thanks for following my other threads.

Thanks for such hopeful words.

Thank you for believing in me that I can achieve that level of success (thousands of dollars ). I've definitely experienced what you're describing in gambling. In fact, it's possible in any financial endeavor, but gambling accelerates the process significantly. Poker, trading (especially the kind I suggest), and gambling share a similar nature in this regard. That's why I'm here among wise and experienced people like you to navigate the challenges that would be difficult for someone with an average IQ like me.

Not at all! I like it hard and rough . Thanks for making a distinction between poker and gambling. Many people usually miss that.




 

It may seem like discouragement to OP but literally the best advise. Using money gotten from gambling to invest is not to be condemned but that should not have to be the best possible option to build a Bitcoin portfolio. With what OP mentioned, this means all his time and means of earning will likely depend on gambling or meme coin which both are of great risk and require quite a good management.

Not just will OP find it difficult to make it as he outline but severe repercussion will be faced, some like addiction and quick losses, since he remains desperate for a win, this will intrigue him into going in full to be able to make huge wins and only cost him to return back at zero.

The fact you are on your journey to gather 1 BTC and you start your day 1 with gambling is enough explanation that this will never be a positive result. You using your poker skills to get you started in this journey is the worst decision byfar I have ever seen. Sorry for being somewhat rude but this is more like a fun post then a serious journey. The chances of you making it to 1 BTC from playing poker or gambling is 0%, yes, you heard it right. Good Luck though!

Project to 1 BTC from gambling...? freerolls

I smell that this plan is a bit crazy “sorry to say so” because I know that some people plan to get more bitcoin not in gambling but in other ways and in general buy regularly.

Even if you have skills in poker games for many years, it doesn't matter if you can prove in the future, but I'm not sure you will be consistent.

When it reaches thousands of dollars what if you are addicted and the money has been earned so much that it is played and lost?
Gambling is like that... it will always be hot and want to play when there is a lot of money let alone get it for free.