How I lost 5307 satochi’s on Freebitcoin

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For about half a year I had been claiming free bitcoin satochi’s from the free faucet on freebitcoin. At first I got 25 satochi’s per roll, but it started to drop after a while and the last few days it had lowered to only 7 satochi’s per roll.

I had accumulated 5307 satochi’s and realized that at this rate it was going to take ages to reach 30.000 satochi’s, which is the amount you need to be able to withdraw it, or get 4% interest on it. Which would make it grow by itself.

Every single time you use the free roll, you get a pop-up that says you can multply your BTC holdings by up 4750 times by playing the high/low multiplier game. After ignoring that for half a year I decided to check it out.

It is a betting game, where you bet you will get a high or a low roll and if you are correct you will at least double the amount you wagered. Now I had heard about a system that supposedly was a good system for this type of game.

The idea is you start with the smallst wager possible, if you win, then you do the same again. In this case 1 satochi. If you loose, you wager 2 satochi’s instead in order to win back your loss from the last wager. If you loose again, you raise it to 4. Then 8, 16, 32, 64, 128, 256, 512, 1028, 2048, 5096. As soon as you win, you return to wagering 1 satochi.

This is likely the best system you could be using to play this game, since this method lowers the risk quite significantly. It does however not eliminate it. Hold that thought.

Freebitcoin even has a automatic roll system that you can set up to fully automatically use this method. When I realized that, I decided to try this out and I got lucky. After 10.000 automatic rolls using this method, I had almost doubled my satochi’s and was thinking to myself “this cannot be true”. Why would Freebitcoin provide such a system if it is this profitable?

I then decided to let the system do 100.000 roll’s with these settings, but then in very quick succession I lost 2048 satochi’s three times, since I had set that as my maximum bet. I then lowered the maximum bet to 1024 satochi’s (which increased my chance of loosing) and then proceeded to loose all the rest of my satochi’s until I literally had 0 satochi’s left.

The most addictive thing in gambling is not winning, it is loosing. When you loose you feel so awful, that you want to do anything to make it stop. So you keep playing until you’ve got nothing left. Or at least I did.

Then I started making some calculation’s. I am not the best at probability mathematics, but I do have an ok sense of how to calculate my chances of winning. I should have done that beforehand... The method I used, does indeed increase the chance of winning, but it does not eliminate the chance of loosing. At first that chance of loosing is pretty low. But when you roll for 100.000 times, then the chance of you still getting a positive result goes down dramatically. The more you roll, the lower the chance is that you will have a profit. At some point you’d better buy tickets in the lottery, because your chances of winning would be higher.

The chance of winning is at maximum 47,5% per roll, not 50%. So with every roll you have a 52,5% chance of loosing that roll. You lower that with the system I used to a very small chance of loosing. But do that 100.000 times and you will have increased your chances of loosing to an astronomical level.

Freebitcoin has been around for many years. They have a very sound and profitable system. So the fact that they provide you with this automatic roll system, that you can even set up with this method I used, means that they have done the mathematic calculations. The House always wins

So, the games that are available at freebitcoin are indeed all casino games that will inevitably cost you your money or satochi’s.

The best way to make money using Freebitcoin is by getting referrals. My referrer will have got about 4K-5k satochi’s from my little adventure yesterday. 40% of the total amount I wagered. I don’t remember who it is, but cheers mate! I hope you use it more wisely than I did.

I have learned my lesson, hopefully this will spare some of you the same fate.



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21 comments
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:) it happens, you loose it pretty fast :) dogecoin I used to play a lot but that is no more available, never took a risk of playing with btc though :) Gambling is tempting!

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It does indeed. I just go back to creating content. It’s a much safer bet.

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The House always wins

Lesson learned! I had a similar adventure 2 years ago with Tron casinos and trying to "mine for dividends"... There is no math that can change the quote from the beginning of this comment...

If user will win, the house wouldn't last too long... :)

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That indeed! In the end it was only 60ct but I did accumulate it over a couple month’s. So it’s a bummer.

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There is no math that can change the quote from the beginning of this comment.

I agree with you completely, @ph1102. That's the truth.

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Yeah, we should be careful with programs like that.
We maybe should be careful about promoting programs that is clearly gambling and casino type sites.
Since we might lead people with gambling addictions into ruin in worst case.

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Yeah, I’ve been thinking about that too. I’ve been using the startearning.today funnel at the bottom of my posts, but I think I’m going to switch that to another program.

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That's why I never gamble. I am firm believer of "A bird in the hand is worth two in the bush".

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It's funny that you mentioned this, as it's the first program we have in Start Earning Today.

In the years I've been a member of it, I've never once used the gambling side of it. I've always just stacked the faucet satoshis and moved on.

If you joined through StartEarningToday, let me know your userID...If I'm your upline, I'll transfer the satoshis back to you.

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Yeah, I had ignored it so far as well. Without much trouble. But when you try it, it is really addictive as long as you think that you can win back what you lost.

Now that I made the calculations I have realized how silly that was. So I will not feel the temptation to try that again.

It is a very generous offer you make. I did try to find it, but I see no user-Id as some sort of number?

My username though is elbrava, perhaps that is what you meant?

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yeah it's a big long code...I'll send ya the Hive equivalent regardless.

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Thank you, that is truly awesome! Let it return to you a hundred fold.

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Freebitcoin can be a tricky program, I made a post to help get more out of it from the free rolls you can see it here just watch the video and I go over it. You're right the referrals can make you a safer passive income but I do use the Hi - Low game pretty much everyday and I use the auto-bet feature. I use a set up that over time gets you earning more, you need to keep your % up so you are not just making .00000007 every roll. Check the picture below and these are the setting I use 2 times every day, some days you will be a little behind to start out but over all if you roll often you will be going forward all the time.

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Hi Mike, I tried your settings, but it didn’t work so well for me.

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The purpose of doing this isn't to win from the Hi Low game its to get your % up so that you are making more the .000000007 per roll. I always get between 000000017 and 00000018 per roll and my % is still growing. If you follow the post I put in the first comment you will make even more. In 2 months I have made over .00015000.

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Ah is that it? Ok, then I understand. I did watch the video.

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Betting like this where you win or lose, you will always lose at the end. You might win and feel great. So you want to win more and do better. You start playing, then you lose eventually.

You lose and you feel awful. You want to recover your loss, so you keep playing, you might win sometimes, but again you will lose at the end. No matter which strategy you follow, you are going to lose.

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