Gambling

IdleRich

IdleRich
Do you do it? Or have you ever done it? Why/why not? What did you bet on, how much did you risk, have you ever had a massive win or loss? Does it make sport more exciting? etc etc
 

luka

Well-known member
One vice I've never been one bit attracted too. Did work at Romford dog track for three years though
 

luka

Well-known member
You see the same lot trudging in night after night hangdog expressions knowing their about the gamble away the grocery money
 

IdleRich

IdleRich
I used to go to the dog track every week when I was at uni... and after that I've been in Walthamstow and Oxford and Wimbledon. I really enjoy it but I only bet very small cos I've never had the balls to put the rent on it. I do like the vice as a whole but never quite dived in fully I guess.
Also been horse racing a few times (but I much prefer the griminess and high turnover of the dogs) and played small stakes poker with friends. Oh and when I used to work in Swindon and didn't know anyone there I used to go to the bookies at lunch time and bet on whatever was on with the locals. That was actually a nice vibe, kinda like a pub with regulars who go there all the time. If someone won a load of money then everyone cheered for them, even the staff. Also, one time this guy said he had had a tip from the stable, his exact words were "I'm told this horse cannot be beaten" and he basically insisted that I bet on it (along with most everyone in there)... and it won! I always wonder if it was just a fluke or if the race was really fixed and he knew.
 

luka

Well-known member
My brother got addicted to the virtual roulette wheels they have in bookies for a bit.
 

IdleRich

IdleRich
The FOBTs? This is what they keep arguing about these days. I've never been into machines to be honest, I like betting on football cos it does make it more exciting, but that's different from horse and dog racing which no-one would watch (wouldn't even exist) without gambling, so it's obviously the case that I enjoy betting for the sake of it... but the machines seem totally empty to me.
I read those books by Simon Raven and they always play chemmy (which is Chemin de Fer I guess) which apparently has literally no skill, the game is automatic... that makes less than no sense to me.
edit: actually looks as though I'm wrong, you do have choices in the chemmy version but not in other versions of the game https://en.wikipedia.org/wiki/Baccarat_(card_gam)
 

pattycakes_

Can turn naughty
had a short fling with sports betting a couple of years ago. was mostly south east asian female basketball games. they'd have nice odds like 70/1 on the favourite team having less than 20 points at half time and i'd put maybe 2 quid on that. i'd do a bunch of those plus some lower returns and managed to do quite well for about a week. but would you believe it, by the end of week 2 i'd lost it all! haven't been back since.

a week after that i bought into bitcoin when it was about 30% of the way up to the first surge to 1000eur but i didn't have that much cash so i didn't do too well. it corrected not long after and went back down to a bit above my buy in price. Over time i started getting into trading alt coins and i think at my peak i had about 9 btc in my wallet. managed to burn that down to 3 on stupid trades and so i decided to stop trading and just held on to the 3 for ages. one day a mate convinced me to sell him one when they were worth about 350eur and he bought a fear and loathing care package from the dark web and we had a... fun month. few months later the price rose to maybe 700 and i sold my last 2 to cover a bill or something. was fun being a day trader for a while though, so much to keep up with and the buzz is crazy!
 

luka

Well-known member
The reason idle rich is called idle rich is he made a million plus as a trader and promptly stopped working. Hasn't had a job since the age of about 24. He was a child maths prodigy and went to Oxford university.
 

IdleRich

IdleRich
Well spread betting and trading are closely related I guess. But with all the hedging we used to do it wasn't really betting in the same way... although you can do hedging with with betting of course. I used to always enjoy kinda playing off the Tote vs the actual bookies at the track and I love the idea of actually finding a proper "middle" although I guess it doesn't really happen these days.
 

pattycakes_

Can turn naughty
i most definitely did not have the head for trading. my maths is no good. plus it was all insider groups anyway. gave me a good insight into how the stock market works if anything. was cool to be part of bitcoin's initial burst into the mainstream with all the twitter action, irc chats and forums. looooads of scandals and scams. high times.

oh yeah, at one point i managed to wangle my way into one of the pump and dump groups too. check this out:

fyi cryptsy was an altcoin exchange

December 10th, 2013
Operation DGC (DigitalCoin) on Cryptsy

Current price of DGC: ~0.00025
Pessimistic price target: 0.0005 (2x)
Sensible price target: 0.00075 (3x)
Optimistic price target: 0.001 (4x)



HOW TO BUY:

Small incremental buys slightly above market value. If market value is at 0.00025, buy at 0.00026, for a small amount, wait a while, and buy again. A good example is, if you want to invest 2 btc, to put 0.1btc every hour that you're in front of your computer, which should spread nicely over two days.



WHEN TO SELL:

If you're afraid, put a sell order for half of what you bought at 2x the price you bought it. This way, you break even, and whatever you have left is « free ». Example: You bought 1000 at .0003, sell 500 at .0006. Hold the rest, cherish it like your firstborn child.

Other than that, you can sell any time really, we are looking into injecting enough volume through hype that it won't matter whether we keep it or sell it.



WHAT IF THE PRICE DROPS:

Grow balls and buy some more. The growth must look continuous. If you don't have the balls, well, pester the others to buy some more I guess. If none of us have the balls, then fine. FINE. It's bound to go back up anyway once the hype train does its job.



TIMEFRAME:

Who the hell knows? I'm thinking with great hype this could be over with the usual monday price surge on december 16th. But christmas season is usually not good for cryptocurrency, let's see how it does this year eh.



SELLING POINTS / SALES PITCHES:

* DGC had a fair, non premined launch. This graph of the total supply during launch is proof: - Few coins can pretend to this

* The dev (Baritus) is active. The community ( http://digitalcoin.co/forums/ ) is alive. At least, we can pretend those two things are true.

* DGC will have a motherfucking BANK ( https://bitcointalk.org/index.php?topic=238882.0 ). If you don't like how DGC is doing, give some to the bank and let it invest somewhere else. Your DGC will grow in amount if the hedging does fine. They have a big and varied portfolio that can handle market crashes.

* And do you know where this bank will be implemented? In a MOTHERFUCKING EXCHANGE. Yes, you're reading this right. You're not dreaming. The future is right the fuck now ( https://bitcointalk.org/index.php?topic=277241.0 ) and we're part of it. Know what? It's already in closed beta, and should open anytime soon.

* With a proper fiat/DGC exchange and a bank service, DGC is not an altcoin. It's a fucking COIN. That's right, DGC is not BTC's little buddy, it's a direct competitor. 10000 DGC right now cost nothing, won't you feel good in a couple years when that's worth 10000 BTC?

* Oh, look, China's getting DGC soon ( http://www.btc38.com/altcoin/ ). Remember what happened with ZET? Yup, +1000% happened in 48h. DGC is getting on that website before the end of the year [that could be a lie, I don't know really], so buy some before they skyrocket. Let's say the DGC/fiat exchange gets the chinese erect on sight due to the banks not allowing to send fiat for btc purchases anymore and that's why they asked to have it. Sounds credible alright.

* The wall street journal talked about it: http://online.wsj.com/article/HUG1747591.html



WHERE TO HYPE IT:

On #crypto, of course. The average user follows our suggestions quite easily, and them buying into it makes value grow, so they like it as much as we do.

On twitter, whether you're a small time user or a poweruser. Once the growth is over, don't forget to post « told you so, guys » so that they follow your advice next time we long pump a coin.

Some naive sounding geniune interest posts could work a bit on the various crypto subreddits, look for them in the sidebar on the right of http://www.reddit.com/r/bitcoin

And of course, trollboxes all over the world of crypto. Here are premade phrases to copy/paste into trollboxes:
Heard a lot of people talking about DGC lately, know anything about it?
BTC-38 just added DGC, buy it before the chinese do!
Nice, DGC (Digitalcoin) is about to open an exchange, should boost its value in no time
Wall Street Journal talked about DGC, might be a good time to buy some
Saw on Reddit that Bill Still and Max Keiser will talk about DGC in their next interview, nice
DGC will be added tomorrom to BTC-38, little time left to buy some before the chinese do


felt so l337. was so funny how delusional it all was back then. people really bought into the idea that cryptocurrency was going to go mainstream any time soon.
 
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sadmanbarty

Well-known member
The reason idle rich is called idle rich is he made a million plus as a trader and promptly stopped working. Hasn't had a job since the age of about 24. He was a child maths prodigy and went to Oxford university.

that story makes me want to cry.

i have such a profound jealousy that i can't even acknowledge it. my mind doesn't even register it. i can't cope with even pondering how beautiful that life could be.
 

IdleRich

IdleRich
I mean a middle where you can't lose cos one bookie has made a mistake and you bet on both sides without fear of losing.
 

IdleRich

IdleRich
that story makes me want to cry.
i have such a profound jealousy that i can't even acknowledge it. my mind doesn't even register it. i can't cope with even pondering how beautiful that life could be.
You thought he was serious?
 

pattycakes_

Can turn naughty
The reason idle rich is called idle rich is he made a million plus as a trader and promptly stopped working. Hasn't had a job since the age of about 24. He was a child maths prodigy and went to Oxford university.

finally his life makes perfect sense.
 

sadmanbarty

Well-known member
he's told me that time a million times in person.

i thought the child prodigy/retired at 25 was exaggeration, but totally bought into you being loaded and carefree. you live in portugal, have a gorgeous russian girlfriend and go to restaurants every evening, which made it all so convincing.
 

pattycakes_

Can turn naughty
to follow on from the previous crypto post. this was distributed by a p&d legend in the alt coin scene back when i was active. he went by the name wolong.

i know it's not exactly gambling. but the brain chemicals are all the same
 

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IdleRich

IdleRich
The other day he claimed that I had a fridge purely filled with champagne - which i don't - but the other day I did go to my friends' house and they really did have a special dedicated wine fridge built into the wall of their (unbelievably massive) kitchen. It had a glass front and specially tilted shelves and (when I went there) it was completely filled with champagne. So it is a thing that is conceivably possible it turns out.
 
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