Discussion about 10,000BTC Bet (Official)

[BadBear]

Matthew is a lot of things but I do think he's honest.
No idea why he made this bet though.

18 pages of chatter about something none of the posters are involved in. You don't understand why I made this bet?  

EDIT: Okay now someone involved posts  

I have some ideas why, based on your posts about the community., don't want to spoil your fun though.

[1714698769]

1714698769

[1714698769]

1714698769

[Blind]

On 9th, anger will flood the streets.

[Matthew N. Wright]

On 9th, anger will flood the streets.

And it's gonna drizzle Satoshis

[repentance]

On 9th, anger will flood the streets.

The 9th is nearly over in many parts of the world.   

[bitcoinBull]

On 9th, anger will flood the streets.

And it's gonna drizzle Satoshis

I'm more looking forward to a statement about your *real* motivations for the bet. Its difficult to accept that you were entirely honest about believing that "pirate will pay" (was stupid then, and obviously stupid in retrospect). How you gonna spin it?

[smoothie]

On 9th, anger will flood the streets.

And it's gonna drizzle Satoshis

I'm more looking forward to a statement about your *real* motivations for the bet. Its difficult to accept that you were entirely honest about believing that "pirate will pay" (was stupid then, and obviously stupid in retrospect). How you gonna spin it?

If he pays he won't have to spin it.

[bitcoinBull]

On 9th, anger will flood the streets.

And it's gonna drizzle Satoshis

I'm more looking forward to a statement about your *real* motivations for the bet. Its difficult to accept that you were entirely honest about believing that "pirate will pay" (was stupid then, and obviously stupid in retrospect). How you gonna spin it?

If he pays he won't have to spin it.

But he would just look rich and stupid. He can spin it to seem generous instead.

[smoothie]

On 9th, anger will flood the streets.

And it's gonna drizzle Satoshis

I'm more looking forward to a statement about your *real* motivations for the bet. Its difficult to accept that you were entirely honest about believing that "pirate will pay" (was stupid then, and obviously stupid in retrospect). How you gonna spin it?

If he pays he won't have to spin it.

But he would just look rich and stupid. He can spin it to seem generous instead.

Just wait until the 9th.

[makomk]

I read either znort or D&T put the amount owing at 100000 BTC, and I have no idea of the total amount paid back yet.

Fewer insults, if you please.

Actually, I think Pirate owes about 100000 BTC just to BTCMAX and their account-holders alone.

[JMAHH]

What if... Pirate and MNW were colluding!  

As in, Pirate does have the money, and they're tricking people into thinking he doesn't, eventually resulting in a massive bet win for MNW when P does pay out?

PIRATECEPTION

Nevermind me. Just kidding. Please proceed.

[JMAHH]

#6 What drugs are you on at the moment? List Legal and Non Legal.

I've never done drugs (at least not knowingly) in my life, nor drank nor smoke. I'm a workaholic though.

I detect some vanity (?). Hyperboled: if you have enough time to determine you're a workaholic, you're not a workaholic.

[labestiol]

Beware of the man who does not drink

[Matthew N. Wright]

Beware of the man who does not drink

..for he may have imagination and not need to be chemical dependent to have a good time.

[yjacket]

Jesus, i just read through 8 pages. Unless i missed something big and are retarded(which is possible) i didn't see anything. Just post a link please.

Since you evidently need it, the TL;DR version:

Matt would not have made the bet if he didn't think he would win.

That is all. All you need to know, all he's said. Check back on the 9th.

So he didn't post  why he thinks pirate is legit. thanks.

Did you read the very first post in the actual bet thread?

Yes. He doesn't mention anything about Pirate's business model.

Thanks for playing!

[yjacket]

Beware of the man who does not drink

..for he may have imagination and not need to chemical dependent to have a good time.

but he certainly doesn't hold himself above those that do.....

[labestiol]

Beware of the man who does not drink

..for he may have imagination and not need to be chemical dependent to have a good time.

I don't really see the point about imagination.
And FYI, needing alcohol != enjoying alcohol

[Matthew N. Wright]

Beware of the man who does not drink

..for he may have imagination and not need to be chemical dependent to have a good time.

I don't really see the point about imagination.
And FYI, needing alcohol != enjoying alcohol

The saddest thing is when a grown man cannot enjoy himself without consuming a substance, and then defends it instead of admitting the sickening state of the chemically dependent socially retarded world we live in.

BAM! In your face suckas!

[labestiol]

Beware of the man who does not drink

..for he may have imagination and not need to be chemical dependent to have a good time.

I don't really see the point about imagination.
And FYI, needing alcohol != enjoying alcohol

The saddest thing is when a grown man cannot enjoy himself without consuming a substance, and then defends it.

Never said it was the case (In fact it's not). I like both. Anyway, probably a sterile discussion
Let's go back to your bet 

[kneim]

Thank you everyone for showing a huge amount of integrity to bet for your beliefs instead of just arguing, defaming, accusing, aggravating, etc. Many of you truly believe Pirate is a ponzi, many of you are simply utilizing my offer for hedging, and still others are simply happy to take a 50/50 chance bet on anything. Regardless, we are at the 10,000BTC mark and thus I am locking the thread so that no more bets can be received here.

I still believe there is a very high chance that Pirate is just doing a business which we don't understand, and my sinking gut, although questioning his lack of professionalism, lateness, etc, reminds me that no one is perfect and it may all just be a series of bad coincidences. I hope I am right and that I am able to prove to the community once and for all that what we don't understand is not always a scam. If I happen to be wrong, I'm happy to have enjoyed this entertaining time with everyone, and I've actually made quite a lot of new friends (as you can imagine).

The original OP states that the bet ends 3 weeks after August 19, 2012, 04:49:20 PM, so that means it ends on September 9th, 2012, 04:49:20 PM KST (Korean Standard Time, local to me). I think I had mentioned a slightly longer deadline elsewhere on IRC out of confusion (September 12th perhaps?), but this is incorrect as you can clearly see. The bet will also end if Pirate has provided proof of paying back all (not 99.9%) of his obligated debts and interests per agreements, whichever comes first.

Good luck to everyone and thank you for participating in this monumental lesson for all of us.

As I wrote in another topic, pirate could be seen as an honest hedgefund trader, who simply invested inaccurate and with too much leverage, and this failed now (as any other hedgefund could). Perhaps you can not prove pirate guilty, ask Matthew, I think he knows it.

And that doesn't make Matthew a better guy, his reputation is nothing worth any more. He thinks he has won his bet, it's a big loss of trust for the Bitcoin community altogether.

[bg002h]

Well now Matt, when will you pay?

If I lose.

What are the conditions?

https://bitcointalk.org/index.php?topic=101751

I think its pretty clear that pirate has defaulted.

Pirate defaulted before I even made the bet. I couldn't agree with you more. The bet is not about defaulting.

Describe, if you please and in detail, the type of payment you anticipate winning the bet on...