Forgive me my nitpicking, but how is this strategy similar to martingale but very different at the same time? That beats me, it seems that it has nothing to do with martingale. Though never mind. So you are risking 1 BTC with a 93% chance to win how much exactly?
Well in martingale I would usually double or multiply my bets after loss, and heavily rely on gambler's fallacy. its the same here, except for that I am not making the middle bets. But am betting exponentially higher.
The rolls are independent to each other, so the previous rolls should not affect the future rolls. Given the fact that you have 7 losses now, the chance of having another loss is the same as ever.
Yes they are. But in the simulation I have never got more than 8 rolls ever. Even though it has the same probability but to satisfy the trend or statistics, it hopefully should never happen. THe probability of 7 losses is already very low. 9 in a row is almost 0. But anyways, I have never had a loss, so I am not sure of it , I might be wrong, but it has worked till now.
