my favorite is the 8000, with initial bet of 0.001 and increasing by 20% after the first lost, and 15% each time thereafter. the first pays for the tx fees, the other times, well, it sucks to bet 10 and only win a little over a bitpenny
I tried it your way, 3 times. I started at 0.015 and added on 15% each time.
The first 2 went pretty quickly, but the 3rd took 20 turns before I won. Seems like a lot of stress and effort to make a profit of 17 bitcents.
Ahh, yes.... I only managed to do it for a couple of hours myself. Profit was around 2BTC, as I recall...
If I just knew how to make a script for it....
Set up a wallet with 5 BTC, let it run for 12hrs, then check to see if you're at 0. If not, send anything over 5BTC to a diff wallet, restart script.... As long as you didn't stray from that plan (i.e. never bet 'endlessly') it seems to me like it'd take some astronomical odds to not come out ahead.... I suppose you could scale it up if you had more bitcoins initially. I started out with ~3BTC, which is why my starting bet was so low.
Near the end (was getting bored), I did a bit of a variant where I'd place my initial bet on something like "under 2000" or "under 3000", second bet on "under 4000" or "under 6000", then the rest on "under 8000" as normal. That way you get something a little more significant if you win in your first few turns. =p
Dude, don't confuse a lucky streak with a what would on average happen streak. I played the under 8000 strat. Won .37BTC first time, lost it all the second time (.65BTC). Maybe my bankroll wasn't big enough.