Bitcoin Gambling

I used to like to say that "of the three major things Bitcoin is associated with (ransomware, dark markets, and gambling) I have experience with two of them." I have experience with ransomware from tinkering with code, I have experience with dark markets from research, but I never until now have experienced bitcoin gambling. This blog is what my first experience with bitcoin gambling was like.

I chose the site MegaDice for my first attempt. I chose MegaDice because of the dice rolling's clean interface, fair algorithm that you can cryptographically verify, and the account security such as email verification for withdrawals and 2FA login. I'll include a referral URL for those who would like to give it a test run like I did, and bets that are bigger than 0.00001000 BTC help me out. http://megarefer.com/?a=258034840

https://supload.com/HyNR4k6se

I personally have an addictive personality, so I told myself; tonight I am going to only spend .01BTC from my hotwallet. If I lose it all, so be it, I was expecting it. If I didn't lose it, I would move at least .01 back to my wallet, to make up for any potential loss. And I told myself one final rule, I will never move money from my HODL wallet.

I moved some from my KeepKey.

I started small. I was thinking in quantities of hundreds, but in reality I was only betting pennies at a time. It was fun. Eventually the thought of "money" left my mind, and I just started thinking in decimals. How many decimals do I have left, how many will I get with this bet, what's the likelihood of winning this bet.

For those who don't understand the system, your goal is to bet on how low the number will go. The max is 65535, so if you bet that it will go lower than 10000, then you have a ~1.5% chance of winning and a 63x payout. Meaning, if you bet .0016BTC at 10000 and won, you would win 0.10048BTC, or about $103USD profit.

https://supload.com/SyFivJTog

Eventually you start getting riskier and riskier. You bet more at a time. You reduce your odds. Most of the time you will fail. But sometimes you win big! On a really lucky roll I made .0188BTC from a .001BTC bet. I had to get less than 3276 (5% chance) and it rolled 1244. It felt amazing, and the first thing I did was move that .01 back to my KeepKey to make up for that initial loss. And I still had .088BTC left!

That .088 didn't last long though because I got cocky. In the end I'm glad I tried it, I had fun, and I think as long as I stick to my system of moderation I will play again in the future.