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Has anyone ever tried doubling a penny into a million dollars?

Discussion in 'Making Money' started by calmyotitz, Mar 20, 2013.

  1. calmyotitz

    calmyotitz Newbie

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    We've all heard about how if you double $0.01 28 times, it becomes one million dollars. You have to create 28 tasks in order to double your money each time and honestly it seems like it's possible. Has anyone ever tried?

    Task 1: $.01
    Task 2: $.02
    Task 3: $.04
    Task 4: $.08
    Task 5: $.16
    Task 6: $.32
    Task 7: $.64
    Task 8: $1.28
    Task 9: $2.56
    Task 10: $5.12
    Task 11: $10.24
    Task 12: $20.48
    Task 13: $40.96
    Task 14: $81.92
    Task 15: $163.84
    Task 16: $327.68
    Task 17: $655.36
    Task 18: $1,310.72
    Task 19: $2,621.44
    Task 20: $5,242.88
    Task[B] 21: $10,485.76
    [/B]
    Task[B][B] 22: $20,971.52
    [/B][/B]
    Task[B][B][B] 23: $41,943.04
    [/B][/B][/B]
    Task[B][B][B][B] 24: $83,886.08
    [/B][/B][/B][/B]
    Task[B][B][B][B][B] 25: $167,772.16
    [/B][/B][/B][/B][/B]
    Task[B][B][B][B][B][B] 26: $335,544.32
    [/B][/B][/B][/B][/B][/B]
    Task[B][B][B][B][B][B][B] 27: $671,088.64
    [/B][/B][/B][/B][/B][/B][/B]
    Task[B][B][B][B][B][B][B][B] 28: $1,342,177.28

    [/B][/B][/B][/B][/B][/B][/B][/B]
     
  2. incognito876

    incognito876 Regular Member

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    Yes, I tried it about 15 years ago. Got to something like $35, (sometimes I couldn't double it but might have almost doubled it) then stopped - as I couldn't find opportunities. My mum tried it too - she got to about the same as me.

    We read about it in a booklet - this was pre-internet days for most people and there were a few rules. The penny you start with has to be given (just ask someone for it) and you had to only use that money - so if you were out and saw an opportunity you had to use those notes and coins to buy - it wasn't allowed to buy with other money and then replace it. Something to do with creating energy round the whole thing I guess.

    Glad you reminded me - I will give it another go :)

    (probably the wrong place for this thread, BTW - welcome to the forum though)
     
  3. SeoWrecker

    SeoWrecker Jr. VIP Jr. VIP Premium Member

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    tell me more about it
     
  4. incognito876

    incognito876 Regular Member

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    Not much to tell really. You ask someone for a penny, then you go about doubling it. So go to your buddies tell and them you are doing an experiment and will they give you two pennies in return for your one penny. Do that several times - you'll probably get through the first 7 or 8 tasks just by doing that before they start saying no.

    Then with your couple of dollars, buy something that you can sell for twice as much. My mum bought fresh free range eggs, and sold them to people for twice what she was paying. So start just with a dozen eggs you buy for $2, the sell them for $4. Go back to the farm, buy $4 worth and sell them for $8, etc.

    I started buying cheap lighters and selling them in my friends bar for twice the amount.

    You have to follow the rules, so if you see a bargain for $20 you think you could sell for $40 but you only have $12 in your kitty you can't put in the extra $8 from other money you might have.

    Double your money 28 times and you have your million.
     
  5. sonicpunk32

    sonicpunk32 Regular Member

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    Why would you want to know about the stories of those who did NOT succeed in turning a few pennies into millions? I assume that's what ya mean by "tried."
     
  6. Paco De Lucía

    Paco De Lucía Junior Member Premium Member

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  7. GeoISSS

    GeoISSS BANNED BANNED

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    This was a game based website, not task.
     
  8. 1337Alec

    1337Alec Junior Member

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    Theres a book about someone who starts with a penny, trades it for something more valuable then trades that for something more valuable and so on until they reach something equal to $1 million. Wish I could remember what that book was called.
     
  9. gsy159

    gsy159 Power Member

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    roulette 1/(2^28) won't happen but it happens:D
     
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  10. incognito876

    incognito876 Regular Member

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    Because you can learn just as much by people who have failed as you can from those who have succeeded for example?

    Or did you want a "method"?

    OP just asked if anyone had tried it. Meaning he/shes gonna get better info for going forward than asking Hey - PM me if you have ever succeeded with this!!

    Not. :)
     
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  11. Panther28

    Panther28 Elite Member

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    If you search ebay, for each of the task amounts, you'll soon find out what you need to be selling to reach each one.
     
  12. jbinkley

    jbinkley Junior Member Premium Member

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    There is some truth within this thread.
    Think mindset ;)

    So to help out I will give a penny to the first 100 people that want to do this.
    Just make me one promise, make a thread where you all show your progress and let us keep you motivated.

    Since I'm a big spender (sponsoring 100 people) I think I'm entitled to ask this lol.
     
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  13. incognito876

    incognito876 Regular Member

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    Exactly - it is the mindset. Hence the importance of using the rules to create the right energy around the project.
     
  14. sonicpunk32

    sonicpunk32 Regular Member

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    OH, I see. I guess you're right. I'm sure there's tons of people here who've tried. No, there's plenty of methods here, lol.

    I tried a while back with forex. One of the things I did was take $1 and deposit it into a broker called Oanda. They had this special proprietary thing they called box options. Depending on how you set them up, you get anywhere from 0% to 400% if you won, and (negative) 100% if you lost. So I took that $1 and tried to double it, (60% to 80% at a time). I managed to get up to around $20. Then one bad decision, and poof, it was gone, even the original $1.
     
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  15. Gogol

    Gogol Elite Member

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    Better said than done ...

    Sent from my E310 using Tapatalk 2
     
  16. incognito876

    incognito876 Regular Member

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    :) Too true.

    But having said that, it certainly exercises your creativity muscle, and costs nothing to try...
     
  17. fabzz

    fabzz Junior Member

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    All on red.
     
  18. riskymonk

    riskymonk Newbie

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    there's no doubt you have to give something like this a try even if you are a hint sceptical.

    I've been getting a lot of inspirations from this site so I'd like to give a little back where I can.

    You'll be more disappointed by the things you didn't do than by the things you did. You're not a failure if you don't succeed, you're a failure if you don't try.
     
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  19. DanTe_0101

    DanTe_0101 Senior Member

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    never heard this thing before...
     
  20. GiorgioB

    GiorgioB Supreme Member

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    This is a fun little thing.. but anything past $5-10K is going to be difficult to take so lightly, as a game.. you've got to have some kind of business model, structure,.. and this seems only to apply to trading (how about if you make money from building a website.. take a domain + hosting ($50 for 1 year) and your client pays you $10 000..... ? does that still work?