The reason it fails as a contract is because a contract has historically been comprised of 3 things.
Offer, Consideration and Acceptance.
Yes you made an offer (next time don't run your mouth)
Yes they accepted the offer side (they took a similar risk by accepting)
But the whole thing is missing consideration.
You should have taken the next part of whatever law course you flunked out on (or, more likely, read a few more Google results).
A consideration can be a promise to do/pay something (and it can be conditional) - it doesn't have to actually be transferred or escrowed to be a consideration. The purpose of the requirement for a consideration is NOT to say that contracts aren't binding until something has changed hands - but rather that there must be an agreed
intent for a transfer of some value.
If I make a contract with you to exchange X for Y then your horribly flawed contention is that until one of us has sent there's no consideration and so there's no contract. That's just totally wrong.
You're joking right?
Sadly no you're not, you just focused on 1 part of my posting and used that to try and attack the concept wholesale starting with an ad hominem attack on me.
Ok so let's start from the top and examine why this is in fact, NOT a contract.
Contracts 101.
Any agreement whether verbal, or written is considered a valid contract binding on both parties unless it fails certain criteria.
It must actually be constructed as a contract.
For something to be constructed as a contract it must have 3 things.
Offer, consideration and acceptance.
Both offer and acceptance are only considered valid if it can reasonably be determined that a meeting of the minds has occurred.
For an offer to even be a valid offer there has to be a demonstrated intent. This intent must be one that a reasonable person would believe to be serious.
This is where it begins to fail as a contract because a reasonable person would not believe that he was serious based upon a post in a random forum on the internet.
Therefore it fails.
But let's say this wasn't a random forum on the internet, it still doesn't pass the reasonable person test because a reasonable person would understand that if the offer is to do something illegal it is automatically invalid. Gambling is pretty much illegal in most places including the USA. I say the jurisdiction is USA because it is not otherwise specified and the whois information for the domain bitcointalk.org is not valid information, thus the jurisdiction would likely fall to the region of the gTLD and .org is USA.
Therefore it fails again.
But let's say it had met all the previous criteria, then what?
Some types of offer are prima facia invalid regardless of the legality of the action. One of these contract types is a contract to gamble.
The only jurisdiction where a contract to gamble is held as legal is Nevada (at least in the USA), however there are some fairly serious stipulations involved and none of those were met, because in Nevada a contract to gamble is considered an aleatory contract and thus one of the parties must be a regulated entity.
Therefore it fails again.
But what if bitcointalk.org were in fact a properly registered and regulated entity?
If we treat this as a contract to gamble i.e. an aleatory contract that is not itself invalid, then it still constitutes an aleatory contract and money actually needs to be on the table, a promissory note is sufficient but a verbal or written "ok" is not. Since bitcoin does not really have a concept of a promissory note there would have needed to have been escrow.
Therefore it fails again.
My WHOLE point rests upon the assertion that no reasonable person could be held to this offer because no reasonable person could believe intent from the circumstances of the situation. I have shown at least 4 places where this admittedly stupid mistake fails to meet the standards of a contract. Your assertion that it was valid sans escrow is technically correct when taken in complete isolation of all other facts, but misses the point of it not being a contract.
Now if he had accepted funds and not returned them it would be a different story, my theory is founded upon the fact that no one sent him money for this or that if they did they were returned ALL of the money they sent. Thus for all intents and purposes no consideration changed hands.
Therefore it fails again.
Ok, now your turn.
p.s. I am not a lawyer and this is not legal advice, just armchair analysis.