Post
Topic
Board Gambling discussion
Re: Get one btc right away or 5 btc with a bet?
by
Ever-young
on 22/03/2024, 20:01:37 UTC
It's not always easy to make the right decisions. Are you a gambler? If you're offered 1 btc without playing or 5 btc by playing (with a chance of 2 to 1). What do you do?

You know what they say about a bird in hand being worth more than two in the bush.
For me, I wouldn’t need much time to deliberate on this as I would certainly go with taking one bitcoin. I’ll prefer to go with something sure. The 1 bitcoin that’s being offered is certain while there is the possibility of losing out entirely while trying out your luck to get 5 bitcoins.
There may be people willing to risk it and go for the 5 bitcoin. I wouldn’t exactly say some people amongst those bunch are motivated by greed to do so but it’s obvious the thought of having 5 bitcoins could be tempting.
The "bird in the hand" and "two in the bush" concepts are very relevant here! I believe that the decision to pick the most secure choice (1 bitcoin) or to take a risk in the hope of receiving a larger payoff (5 bitcoins) can be influenced by a variety of circumstances. For example, a risk-averse person may constantly go for the safe option, but a risk-taker may opt for the larger prize.