Scammer: Matthew N. Wright

[bigasic]

All i have to say is that this is HUGE black eye for Bitcoin Magazine.. I'm sure that if he already isn't relieved of his "Editor-in Chief" title with them, I would be very surprised.

I, for one, will not subscribe to the Bitcoin Magazine until this mess is taken care of or that Bitcoin Magazine comes out and lets us know that he has nothing to do with the Magazine any longer.. Sorry Matthew, you made your own bed on this one...

Mainly because I was going to use my winnings that I bet with Matthew to subscribe to the Magazine, lol..

I do realize that Bitcoin Magazine did not condone this bet. But, it's still a black eye, nonetheless...

So if I were to place another ad with Bitcoin Magazine I presume it would look bad for my company.  I had an ad in issue 1.

Note. I am responding to the above poster...

I, personally, will never knowingly help, contribute to a known scammer/liar and that means every business that person/organization is involved with. It's truly unfortunate for this to happen. I was looking forward to subscribing. I know that my one little subscription wont make a dent. but, when I tell 2 people and so on and so on.. Why do you think network marketing companies do so well?

I can never trust that person or company again. Unless they cut all ties and do what they can to minimize the damage.. I wonder if the latest scam will be in their issue, lol.. I won't know because I won't read it..(Unless they distance themselves from him, then I will gladly be back)..

I guess the balls in Bitcoin magazines court.. I totally understand that they got shafted, but you are only as honest as your "Editor-in-chief"....

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[Littleshop]

All i have to say is that this is HUGE black eye for Bitcoin Magazine.. I'm sure that if he already isn't relieved of his "Editor-in Chief" title with them, I would be very surprised.

I, for one, will not subscribe to the Bitcoin Magazine until this mess is taken care of or that Bitcoin Magazine comes out and lets us know that he has nothing to do with the Magazine any longer.. Sorry Matthew, you made your own bed on this one...

Mainly because I was going to use my winnings that I bet with Matthew to subscribe to the Magazine, lol..

I do realize that Bitcoin Magazine did not condone this bet. But, it's still a black eye, nonetheless...

So if I were to place another ad with Bitcoin Magazine I presume it would look bad for my company.  I had an ad in issue 1.

I will make it my mission to avoid anyone supporting that magazine.  That includes advertisers.

I figured as much.   I have no pending ads right now.  Of course they could do a Bruce W and keep running ads.

[AndrewBUD]

So if 1 dude fucks up at a Company you crap on the entire company.. That's not fair....


You should wait and see what happens, he may not be involved with bitcoin Magazine any longer.

[nimda]

So if 1 dude fucks up at a Company you crap on the entire company.. That's not fair....

That's part of business. You might not know it, but the better service you have at your local Red Robin affects how much money you spend there and what you tell your friends about it. One waiter is rude, you "crap on" the whole establishment. The company knows this, and will do their best to hire good people and fire bad ones. Perhaps keeping MNW on-board after seeing his juvenile antics was a mistake; the company must absorb the loss from that mistake.

On the other hand, some people were saying that they would buy a magazine as soon as he was fired, because they were only keeping from buying one while he was on-board

[repentance]

This is the probably the most blatant large-scale scam I have seen here to date.

And yet no-one lost a single Bitcoin in this one.

[nimda]

This is the probably the most blatant large-scale scam I have seen here to date.

And yet no-one lost a single Bitcoin in this one.

Bullshit. I will repeat myself again:

lol why is anyone pissed?

everyone knew he wasn't going to pay up.
no one lost money.
and he got the scammer tag.

probably a lot of people's bets were for 10 times more bitcoin then they actually had, you know just for the off chance that MWN is retarded and did pay out.

I bet (heh) that people did lose money.

1. Investor notices the bet thread
2. Investor notices TYGRR-BOND-P is trading at 0.1 BTC
3. Investor buys 1 share
4. Investor bets 1 BTC
5. MNW exposes the "loophole"
6. Investor is forced to sell his share again, at a loss of 0.04 BTC.

Just because MNW didn't gain doesn't mean others didn't lose. If I break your window, neither of us gain. I'd still be an asshole though, especially if there's no recourse you have against me.

[Vladimir]

Konichua, get in touch with me and we will figure it out.

Done.

This matter has now been resolved. Please read an article by Konichua in Bitcoin Magazine, issue #3.

[JoelKatz]

And yet no-one lost a single Bitcoin in this one.

Say I promise to buy 1,000 pounds of shrimp from you on a particular date at $10/pound. You turn down other deals on that same day. You take out a loan to buy the shrimp. You buy the shrimp. You rent a truck to deliver the shrimp to me. Then when you get there, I say "Sorry, I don't want the shrimp." But you gave up other jobs, took out a loan, bought 1,000 pounds of shrimp and rented a truck. How can I say "You didn't lose any funds"?

Matthew's bet pushed up the price of Pirate debt. This caused some people to acquire Pirate debt at inflated prices to hedge against the risk that Matthew would win his bet. It caused people acquiring Pirate debt to pay more than they should have. And it caused some people not to sell Pirate debt when they should have, believing that Matthew knew something they didn't.

Effectively, it manipulated the secondary Pirate debt market at a time when a number of Pirate victims were trying to mitigate their losses. It may even have enriched Pirate directly, at the expense of his victims, by allowing him to sell off his own debt longer and at higher prices.

[1l1l11ll1l]

So if 1 dude fucks up at a Company you crap on the entire company.. That's not fair....


You should wait and see what happens, he may not be involved with bitcoin Magazine any longer.

Unfortunately Matt used his position at bitcoin magazine to shore up his alleged ability to pay. Many entered into the bet trusting his position with the magazine.

[DigitalHermit]

So if 1 dude fucks up at a Company you crap on the entire company.. That's not fair....


You should wait and see what happens, he may not be involved with bitcoin Magazine any longer.

Unfortunately Matt used his position at bitcoin magazine to shore up his alleged ability to pay. Many entered into the bet trusting his position with the magazine.

Indeed, he is no longer employed with the Magazine http://bitcoinmagazine.net/announcement/.

[SysRun]

That's interesting. Would have been useful info before committing to a hedge more than I had already. Looks like a downwards spiral.

[Serenata]

And yet no-one lost a single Bitcoin in this one.

Say I promise to buy 1,000 pounds of shrimp from you on a particular date at $10/pound. You turn down other deals on that same day. You take out a loan to buy the shrimp. You buy the shrimp. You rent a truck to deliver the shrimp to me. Then when you get there, I say "Sorry, I don't want the shrimp." But you gave up other jobs, took out a loan, bought 1,000 pounds of shrimp and rented a truck. How can I say "You didn't lose any funds"?

Matthew's bet pushed up the price of Pirate debt. This caused some people to acquire Pirate debt at inflated prices to hedge against the risk that Matthew would win his bet. It caused people acquiring Pirate debt to pay more than they should have. And it caused some people not to sell Pirate debt when they should have, believing that Matthew knew something they didn't.

Effectively, it manipulated the secondary Pirate debt market at a time when a number of Pirate victims were trying to mitigate their losses. It may even have enriched Pirate directly, at the expense of his victims, by allowing him to sell off his own debt longer and at higher prices.

Very well said! +1

So, what lessons do we get so far?
1) Trust is like an illusion when bitcoins (money) is involved
2) Scam can come from even the most "reliable" and "trustworthy" people, or even close friends
3) Instead of curing the consequences of a scam, it's better to prevent it from happening (not implying anything for anyone in particular) Though I'm not sure how Matthew's scam could be avoided.... >.<

[legolouman]

And yet no-one lost a single Bitcoin in this one.

Say I promise to buy 1,000 pounds of shrimp from you on a particular date at $10/pound. You turn down other deals on that same day. You take out a loan to buy the shrimp. You buy the shrimp. You rent a truck to deliver the shrimp to me. Then when you get there, I say "Sorry, I don't want the shrimp." But you gave up other jobs, took out a loan, bought 1,000 pounds of shrimp and rented a truck. How can I say "You didn't lose any funds"?

Matthew's bet pushed up the price of Pirate debt. This caused some people to acquire Pirate debt at inflated prices to hedge against the risk that Matthew would win his bet. It caused people acquiring Pirate debt to pay more than they should have. And it caused some people not to sell Pirate debt when they should have, believing that Matthew knew something they didn't.

Effectively, it manipulated the secondary Pirate debt market at a time when a number of Pirate victims were trying to mitigate their losses. It may even have enriched Pirate directly, at the expense of his victims, by allowing him to sell off his own debt longer and at higher prices.

Very well said! +1

So, what lessons do we get so far?
1) Trust is like an illusion when bitcoins (money) is involved
2) Scam can come from even the most "reliable" and "trustworthy" people, or even close friends
3) Instead of curing the consequences of a scam, it's better to prevent it from happening (not implying anything for anyone in particular) Though I'm not sure how Matthew's scam could be avoided.... >.<

However, I wouldn't label you a scammer if you didn't sell me my shrimp. If it sounds too good to be true, it probably is.

[JoelKatz]

However, I wouldn't label you a scammer if you didn't sell me my shrimp. If it sounds too good to be true, it probably is.

If I never intended to sell you the shrimp but repeatedly promised that I would sell you the shrimp and wouldn't weasel out of it and you contracted out a buffet, hired chefs and servers, and then I ddn't show up with the shrimp and said "Ha ha, sucker! What a great prank!" -- I'm pretty sure you would.

[bitlane]

I enjoy shrimp and would be mad if it was never sold to me.

I like it with cocktail sauce (basic horseradish & ketchup mix), although some people enjoy it with tartar sauce (another basic, green hot-dog relish and mayo mix).

I'm on the fence though, as to if I enjoy it more breaded and deep fired or simply sauted or cooked in a brine and served chilled.
Steak and Shrimp is nice, for the garlic sauted style, but having breaded/deep fried shrimp and french fries is also good, depending on my mood.

One think that bothers me most at times though, is if the shrimp are not cleaned properly (the poop-track left in, down the back-side), but at the same time, if too deep a cut is made and the shrimp ends up being butter-flied instead and doesn't stay together, or the body anyway.

I think that global region also plays a large role in how shrimp is/are prepared, if/when they are in 'season' and local cuisine's influence on the style of preparation of them.

As with everything, your tastes may differ, or vary.

[JoelKatz]

I enjoy shrimp and would be mad if it was never sold to me.

I like it with cocktail sauce (basic horseradish & ketchup mix), although some people enjoy it with tartar sauce (another basic, green hot-dog relish and mayo mix).

Now I really want some shrimp!

And everyone should make their own cocktail sauce. All you need is ketchup, horseradish, and lemon juice. You can add some cayenne pepper or hot sauce if you are so inclined. If it is too strong, add more ketchup. If it is too weak, add more lemon juice. If it is too mild, add more horseradish.

[AndrewBUD]

Seafood is gross.. I will not eat any seafood..... Shit doesn't agree with me.. Probably a mental thing but I hate the stuff...

[FLHippy]

Seafood is gross.. I will not eat any seafood..... Shit doesn't agree with me.. Probably a mental thing but I hate the stuff...

If you're eating shit then there is no wonder you're getting ill from it.

If someone told you shit was seafood when you were little, they lied to you. Give it another shot.

And don't do ass to mouth either.

[smoothie]

OP PLEASE CHANGE TITLE OF THREAD. HE IS OFFICIALLY A SCAMMER.

[Atlas]

OP PLEASE CHANGE TITLE OF THREAD. HE IS OFFICIALLY A SCAMMER.

I would if I could. I doubt the account is unbanned.