Discussion about 10,000BTC Bet (Official)

[Fluttershy]

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

[Littleshop]

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

16irVweTdcKiVxzvY2VZW2JGbYKtb6sWCT

[bitcoiners]

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.

[myrkul]

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)

[PinkyPie]

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...

[bitcoiners]

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.

[Matthew N. Wright]

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

[Fluttershy]

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

[PinkyPie]

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.

[bitcoiners]

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.

[myrkul]

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.

[Hexadecibel]

my sock puppet

[JoelKatz]

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?

[bitcoiners]

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)

Lol, what a simpleton way of looking at it.  Yes money will be lost.  I've bought pirate debt to hedge this bet.  I would be in the hole from this if both default.  I am also thinking about taking out insurance.  Don't know yet.  That will cost me.  So yes, money will be lost.

[myrkul]

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.

Now that's a good point (as I've come to expect from you). But if you make financial decisions based on a bet, I have no sympathy. A bet is not a hedge, it's another risk.

[Matthew N. Wright]

I've bought pirate debt to hedge this bet.

Talk about irresponsible. 

[myrkul]

my sock puppet

Ah. right idea, wrong Brony. 

[bitcoiners]

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.

Now that's a good point (as I've come to expect from you). But if you make financial decisions based on a bet, I have no sympathy. A bet is not a hedge, it's another risk.

It's not a financial decision.  It's a gamble.

This bet has cost me money if both default.  I was proving you wrong.  I want no sympathy.  I've already said what my concern is.  Whether these are fugazi BTC being bet.  Like I said I wasn't worried before.  I've just been reading a lot of things on Matthew since this bet that have me wondering.  


This is a thread about discussion on the bet right?

Edit: And yes, Matthew has promoted this bet as a way to hedge for a pirate default.  It could cost original "investors" of btcst BTC as well, as JoelKatz has pointed out.

[myrkul]

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.

Now that's a good point (as I've come to expect from you). But if you make financial decisions based on a bet, I have no sympathy. A bet is not a hedge, it's another risk.

It's not a financial decision.  It's a gamble.

Exactly. You made other gambles based on your gambling here, and if you lose those bets, you're out money.

But your bet with Matthew will lose you no money if he skips out on paying, you'll still have the money you "risked", just not the amount he promised you.

If your Bitcoins are not in your control, they're not your Bitcoins.

F'king recursive bets.

[Come-from-Beyond]

5. Matthew wins the bet, gives the money back because he's awesome like that.  

I have a strong gut feeling that this is what is going to happen. Matt and Pirate are somehow in this together, and decided to put on a huge show by faking a default notice and waiting for all the papers to smear it as a ponzi scheme. Then he repays...

Seems to me u still believe in miraculous "7% per week". This is quite funny.