Saturday, 14 December 2013

Nakowa's Loss- by Hidari

submitted  ago by HidariMigi
In the wee hours of the morning on December 14, the legendary high-roller known as “Nakowa” returned to the bitcoin gaming siteJust-Dice.com with a mission to take back his recent losses. Just days earlier, he had hit a streak of bad luck and was down 200BTC. Now Nak was back, and ready to roll.
Playing under the name “Whodunit” he began Saturday, just before 5:00 UTC, with small bets of 1BTC, playing at 49.5% which returned 2x each bet— a traditional ‘Martigale’ approach, played in what Just-Dice's founder Dooglus called "Nakowa style." The bets soon ballooned to 10, 20 and then 50BTC being dropped at a time. At 5:25, up nearly 150BTC, Whodunit lost his first 100BTC bet, then returning to smaller bets to try to rebuild his fortune. A series of bad rolls left him down nearly 100 before he took a break, after an hour of play.
He came back strong, winning a series of bets up to 8BTC, before his luck ran out again: another 100BTC was lost in next half hour, after which he took another breather.
Just ten minutes later, he returned with a vengeance: betting up to 50BTC at a time, and seemingly winning. And then he bumped his bets again: 60, and then 120BTC were flying by within moments. In the next ten minutes he bet 1000s in BTC, winning and losing, over and over. And then, he went even higher, at 6:24, he lost two consecutive 130BTC rolls — and went on to do a series of twenty 100BTC bets nearly back-to-back, unfortunately only half of which were winners.
He wasn’t making any progress, so he took his game to the next level: 160BTC at a shot. But horror! Two losses in a row!
And then, in seeming frustration, he did the unthinkable for most casual gamers: he started betting the maximum allowed: between 163 to over 168BTC— which for a brief time seemed to be bringing him back into the black. But no, the rolls turned against him, and with the last bets of 168 and then, 78.6999996, he blew out his current stake.
When all was said, Nakowa was down an astronomical amount - over 2300BTC, worth over USD$2.1 million at current exchange rates.
But he took it in stride. Back in September, Nakowa had won close to 11,000 bitcoins on Just-Dice, leading to instant Internet fame and his own AMA on reddit
After his loss, in the spirit of generosity, he delegated Dooglus to spread the wealth - 10 bitcoins were split up among the crowd of participants in the site’s chatroom, who had cheered and groaned as they watched the rolls come in. 68 users were gifted 0.147BTC each, leading to much good karma for the great Nakowa.
Addendum: I was among the group benefiting from Nak's 'rain' of .14BTC. Although I had a 'slow' system of play with very small amounts, the sudden influx of funds drove me to abandon reason; like him, I ran my stake up to an amount I should have stopped at -- .2BTC -- and then just as quickly lost completely. D'oh! If anyone wishes to tip me for this article, my BTC addy: 1GWJ5ybc4jMV5tanh6g619XohP6sjMLViF

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