Discussion about 10,000BTC Bet (Official) - page 57.

JoelKatz

legendary

Activity: 1596

Merit: 1012

Democracy is vulnerable to a 51% attack.

Quote from: myrkul on August 30, 2012, 06:27:39 PM

Even if he doesn't pay, no money is lost. None is gained, but that's not a loss. Nobody's actually risking anything here. (Except their reputations)

You are incorrect. Money will be lost. There are people who made financial decisions based on Matthew's bet acting as a hedge against their possible Pirate losses.

For example, say someone had a 100 BTC Pirate account. They had the option of selling it for 30 BTC. But instead, they bet 100 BTC with Matthew. Now, consider what happens if Pirate defaults and Matthew does not pay:

1) With Matthew's bet: Thee 100 BTC Pirate account is worth zero. They get 0 BTC from Matthew. They wind up with 0 BTC.

2) Without Matthew's bet: They have to 30 BTC they got from selling their Pirate account.

So in this case (which is not atypical) Matthew's failure to pay off the bet would cost this person 30 BTC. If he loses but does not pay, money will be lost.

ObLegal: Promissory estoppel, detrimental reliance, favete linguis.
Estne volumen in toga, an solum tibi libet me videre?

Hexadecibel

vip

Activity: 571

Merit: 504

I still <3 u Satoshi

my sock puppet Wink

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

Quote from: PinkyPie on August 30, 2012, 07:13:50 PM

Quote from: Matthew N. Wright on August 30, 2012, 06:56:33 PM

Wait wait wait...you mean...PinkiePie and Bitcoiners, two SomethingAwful trolls don't appreciate me? WHO WOULD HAVE GUESSED THAT. lulz.

It's not that we don't appreciate you, its just that we want you to grow up.

Also, not a somethingawful troll.

Nope, just another Brony sockpuppet.

bitcoiners

sr. member

Activity: 322

Merit: 250

Quote from: Matthew N. Wright on August 30, 2012, 06:56:33 PM

Wait wait wait...you mean...PinkiePie and Bitcoiners, two SomethingAwful trolls don't appreciate me? WHO WOULD HAVE GUESSED THAT. lulz.

Funny thing is, I've never been to that site. I have no idea what it even is, nor do I care.

What I do care about is whether you are actually betting with "real" btc as many people have suggested you are not.

PinkyPie

newbie

Activity: 21

Merit: 0

Quote from: Matthew N. Wright on August 30, 2012, 06:56:33 PM

Wait wait wait...you mean...PinkiePie and Bitcoiners, two SomethingAwful trolls don't appreciate me? WHO WOULD HAVE GUESSED THAT. lulz.

It's not that we don't appreciate you, its just that we want you to grow up.

Also, not a somethingawful troll.

Fluttershy

sr. member

Activity: 420

Merit: 250

Matthew, how nervous are you about losing all that money?

Matthew N. Wright

hero member

Activity: 588

Merit: 500

Hero VIP ultra official trusted super staff puppet

Wait wait wait...you mean...PinkiePie and Bitcoiners, two SomethingAwful trolls don't appreciate me? WHO WOULD HAVE GUESSED THAT. lulz.

bitcoiners

sr. member

Activity: 322

Merit: 250

Quote from: PinkyPie on August 30, 2012, 06:33:15 PM

I have to say, after seeing how matthew behaves on IRC and the forums I look at Bitcoin magazine differently...

He should just make a sock puppet account if he wants to act so unprofessional.

Im actually embarrassed for the members of that rag. I wonder why no one has reined him in...

Same.

PinkyPie

newbie

Activity: 21

Merit: 0

I have to say, after seeing how matthew behaves on IRC and the forums I look at Bitcoin magazine differently...

He should just make a sock puppet account if he wants to act so unprofessional.

Im actually embarrassed for the members of that rag. I wonder why no one has reined him in...

myrkul

hero member

Activity: 532

Merit: 500

FIAT LIBERTAS RVAT CAELVM

Quote from: bitcoiners on August 30, 2012, 06:22:59 PM

Quote from: P4man on August 30, 2012, 04:57:56 PM

Matthew isnt going to pay, period. Either something extremely unlikely happens or he will wear his scammer tag with pride.

So he burns pirate investors twice. What a nice guy.

Even if he doesn't pay, no money is lost. None is gained, but that's not a loss. Nobody's actually risking anything here. (Except their reputations)

bitcoiners

sr. member

Activity: 322

Merit: 250

Quote from: P4man on August 30, 2012, 04:57:56 PM

Matthew isnt going to pay, period. Either something extremely unlikely happens or he will wear his scammer tag with pride.

So he burns pirate investors twice. What a nice guy.

And this does reflect bad on Bitcoin Mag if this is true. Doesn't matter if the company approved of it or not. They've used it in a story already and he is the editor in chief there.

Guess we'll see.

Littleshop

legendary

Activity: 1386

Merit: 1004

I am sure it is closed, but if it is open I bet 20 BTC

16irVweTdcKiVxzvY2VZW2JGbYKtb6sWCT

Fluttershy

sr. member

Activity: 420

Merit: 250

Quote from: Matthew N. Wright on August 30, 2012, 09:29:25 AM

Quote from: el_rlee on August 30, 2012, 09:27:32 AM

Matthew, do you still believe in winning the bet?

Let's see, what did we know when I made the bet?

Potentially shady operation with no transparency whatsoever and a chance that no one would ever get paid back
Payments were late and would take time to be paid back

And what do we know now?

Potentially shady operation with no transparency whatsoever and a chance that no one would ever get paid back
Payments were late and would take time to be paid back

Since nothing has changed since I made the bet, and there is still plenty of time left on the bet, why would I feel any different? The only time I'll feel different is on September 10th.

Can I up my bet to 500 BTC?

Forgot to post my address. 1GtaD3PfgRfNjxCe1oYJyRNrSfPZZEux9t

sinner

hero member

Activity: 615

Merit: 500

Quote from: P4man on August 30, 2012, 04:57:56 PM

Matthew isnt going to pay, period. Either something extremely unlikely happens or he will wear his scammer tag with pride.

this. he also wants publicity for his magazine.

P4man

hero member

Activity: 518

Merit: 500

Quote from: bg002h on August 30, 2012, 04:46:42 PM

Why until the date he announced default? The terms said interest until the account was paid off...up to the hour...

I know, and thats why Matthew would technically lose the bet even if Pirate pays out with interest up until the moment he announced the default (and said he would no longer pay interest after that). But since that would still surprise me so much, I wouldnt mind foregoing my win and instead hand it to matthew. He could use it, since he would still owe 34995 BTC to everyone else

.

Quote

I missed the doubling down...but, it makes me firmly believe something other than a simple bet is going on.

Matthew isnt going to pay, period. Either something extremely unlikely happens or he will wear his scammer tag with pride.

bg002h

donator

Activity: 1466

Merit: 1048

I outlived my lifetime membership:)

Quote from: P4man on August 30, 2012, 01:07:55 PM

Quote from: muyuu on August 30, 2012, 09:33:19 AM

Except Pirate has now said that he would freeze the interest in any case. Do you think Pirate is going to pay MORE than what he just said he would? That would be a first.

Indeed, that alone makes this bet completely unwinnable for Matthew. However, should the next-least-likely thing happen, ie, Pirate paying out with interests calculated to the date he announced the default, while technically I would have won my bet, I will pay matthew my wager.
All of 5BTC

.

Why until the date he announced default? The terms said interest until the account was paid off...up to the hour...

I missed the doubling down...but, it makes me firmly believe something other than a simple bet is going on.

michaelmclees

hero member

Activity: 633

Merit: 500

Quote from: evolve on August 30, 2012, 04:29:07 PM

People are idiots, and I wouldn't be surprised if he somehow pulls a second hiest.

You're right about that.

If Pirate came on made a plea for some last minute Bitcoins, only about 50,000 BTC or so, because he has to balance his books to make the BTC S&T automated payments come through (system security you know Wink

), he'd quickly get it. People throw good money after bad all the time.

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Quote from: CoinCidental on August 30, 2012, 08:29:19 AM

Pirates rep is done and dusted now ,win lose or draw
i doubt he will ever be trusted again

Except its not. People still trust him and are using his services (gpumax) even though its a strong possibility that he is using that company to launder his stolen coins.

People are idiots, and I wouldn't be surprised if he somehow pulls a second hiest.

As for Matthew, as far as I'm concerned, he already lost the bet. Pirate stopped the interest payments that he stated would be payed up until the final day of payouts. If matthew wants to wait until the 9th for some 11th hour miracle, that's up to him. I'm not counting on him paying though (sorry Matthew, I trust greed over responsibility when it comes to monetary figures this large).

sinner

hero member

Activity: 615

Merit: 500

Quote from: Matthew N. Wright on August 30, 2012, 08:57:43 AM

Can't wait until September 9th.

It amazes me that somebody smart enough to have 10kBTC is dumb enough to make this bet.

Cant wait for either possible scenario:
- you pay out the bet
- you make up an excuse not to pay

These are the only 2 scenarios because you will not win this bet.

sinner

hero member

Activity: 615

Merit: 500

Matthew, do you realize that $100 earning 7% per week grows to more money than the world has in 8 years?

Topic: Discussion about 10,000BTC Bet (Official) - page 57. (Read 104472 times)