My response to the community

[Rassah]

I don't see why Matthew should have to leave or exit or whatever. His reputation is now well established, rightfully labeled, and he will be treated accordingly on this forum. So if he stays, time will pass, people will calm down, forget, or forgive, and he'll just have to rebuild his rep from scratch.

There will be no rebuilding his reputation until he pays the coins he owes. There is no probability of that happening, so he is fucked for life as far as I'm concerned. And I really hope any potential business partner or employer he engages with in the future finds these forums and finds out about his scam.

Why would he pay out the fractions he is able to? Would it really improve your opinion of him if he paid you 1/1000th of what you bet, assuming all his money is distributed proportionally? To me his money won't matter. Only thing that will is the rest of his actions.
Maybe I'm just biased, but this whole incident looked to me as someone doing something stupid, not evil, even if it hurt people just the same. That's why I don't see a problem with him still being around. He got a massive kick in the pants for what he did, and I guess, for some reason, I still have faith in him. Not trust (aside from trusting he'll do something stupid again), just faith.

[Rassah]

But all that has nothing to do with the fact that Matt's "bet" was obviously a 100% trollish prank and people were saying so all along, only to be ignored by the gambling addicts.

No. It wasn't. Not at first. If it's a trollish prank, it has cost Matthew hundreds in escrowed bets. Since you obviously weren't there, please stop commenting as if you know everything. Judging by the deep brown color of your ignore, I doubt anyone is listening anyway.

Clues for the Clueless Volume XXII
1) Matt is a minor and can't legally sign a contract
2) Matt had not visible means of repayment
3) Matt is a jocular, arguably immature fellow who likes to make his points via escalation
4) NO ESCROW (yes I am screaming that)

WTF?

1) He is an adult, I think in mid to late 20's, living on his own in Korea
2) He owns and is involved in many businesses, and has worked at a few high profile, non-bitcoin related businesses. It wouldn't be surprising for him to have $100,000 worth.
3) True. Although in this case his point was "Why can't you leave pirate alone?!"  
4) There was AT LEAST $400 worth of escrow, which Matt lost in the end.

This pretty much solidified for me that YOU HAVE NO FUCKING CLUE WHAT YOU ARE TALKING ABOUT.

[JoelKatz]

Maybe I'm just biased, but this whole incident looked to me as someone doing something stupid, not evil, even if it hurt people just the same. That's why I don't see a problem with him still being around. He got a massive kick in the pants for what he did, and I guess, for some reason, I still have faith in him. Not trust (aside from trusting he'll do something stupid again), just faith.

I believe you are operating on the assumption that he meant it as a joke from the beginning and knew that the chance of him winning his bet was effectively zero. Assume, for the sake of argument, that he originally expected to win the bet and collect every Bitcoin he could from those who bet against him and to pursue scammer tags for anyone who didn't make 100% payment. Under those assumptions, would you still say it's stupid, not evil?

Prior to this stunt, I trusted Matthew. You can probably find me vouching for him in public and I did the same in private. And despite my friendship and trust, I still believe that Matthew initially expected to win his bet and would have collected had he won. If you have any reason to believe that is not so, please share it. Pirate debt was selling for 35% to 50% at the time Matthew made his bet, so there were certainly many people who didn't think Pirate debt was worthless.

No. It wasn't. Not at first. If it's a trollish prank, it has cost Matthew hundreds in escrowed bets. Since you obviously weren't there, please stop commenting as if you know everything. Judging by the deep brown color of your ignore, I doubt anyone is listening anyway.

Isn't that more proof that he considered it quite possible that he would win and would have collected if he had?

[dissipate]

I don't see why Matthew should have to leave or exit or whatever. His reputation is now well established, rightfully labeled, and he will be treated accordingly on this forum. So if he stays, time will pass, people will calm down, forget, or forgive, and he'll just have to rebuild his rep from scratch.

There will be no rebuilding his reputation until he pays the coins he owes. There is no probability of that happening, so he is fucked for life as far as I'm concerned. And I really hope any potential business partner or employer he engages with in the future finds these forums and finds out about his scam.

Why would he pay out the fractions he is able to? Would it really improve your opinion of him if he paid you 1/1000th of what you bet, assuming all his money is distributed proportionally? To me his money won't matter. Only thing that will is the rest of his actions.
Maybe I'm just biased, but this whole incident looked to me as someone doing something stupid, not evil, even if it hurt people just the same. That's why I don't see a problem with him still being around. He got a massive kick in the pants for what he did, and I guess, for some reason, I still have faith in him. Not trust (aside from trusting he'll do something stupid again), just faith.

Evil has religious connotations so I won't say what he did was 'evil', but it was certainly malicious and wrong. As many others pointed out, if Pirate had paid out and Matthew won the bet, he would have collected every last Bitcoin from the people he bet with. And if they didn't pay, they would have received scammer tags. Hence, what he did was steal from those he bet with. He is a thief, plain and simple. He shouldn't be trusted to do anything but the most menial blue collar jobs where trust isn't a factor, as far as I'm concerned.

I have a theory about this bet which I'm not sure others have stated yet. I don't think Matthew ever intended to pay out if he lost, but I think as time went on and it became more apparent that he was going to lose the bet, he kept increasing the bets more and more to make the whole thing look like a ridiculous prank. Look at all the people now saying 'But all of you KNEW he wasn't going to pay out 80,000 BTC'... The bet increases were a ploy to make the whole thing so absurd that only a 'fool' would have expected him to pay out.

[Rassah]

To clarify, when I say evil, I meant intentionally trying to steal or cause harm. I fully believe his initial bet was real. What I meant was that I believe when things went south for him, he panicked, and tried to do something stupid to get out of it. JoelKatz, I agree with you completely. This was at the least an act of cowardice. I just can't see Matthew being so bad (evil) that we would set up a scam like this from the start. What dissipate said +1
And no, I'm anti-religious.

[smoothie]

In hindsight, I no longer see this bet as being funny and I think it was in horrible taste. The community members who were my friends who are standing up against this are right in doing so I and I have no place in the bitcoin community as I clearly don't take it as seriously as everyone else. I am happy to have learned so much from Bitcoin and I'm glad to have shared in many experiences as well, but I cannot discount the claims that I have some issues with manicism as there is no other explanation for my often irrational behavior. I'll be seriously looking at my life and exiting from the community with my sincerest apologies.

Mihai Alisie will be speaking for the Bitcoin Magazine at the London conference. I am in the process of exiting the company completely equity and all in addition to already having resigned as a director and Editor in Chief, as it seems the right thing to do for the future of the magazine.

Ellet's IP is being handed over to a more capable party and I will be exiting any involvement with it.

DCAO is being dismembered and the existing heads will start another organization a bit more seriously toned.

I will not be involved in any businesses in this community any longer. It is clear my immaturity is hurting the community more than I am helping it, and the position I have been in has only resulted in hurting myself and those around me. I'm glad to see that many people did get my joke, but I ask that they not defend me as even I see now that it was crossing all sorts of lines that should never have been crossed and I have absolutely no excuse for it.

I'm sorry I let so many people down that I never even realized actually cared and I hope I can somehow serve as an example of what not to do so that all of this was not a complete waste.

I will now leave how I came.

DELETE YOUR ACCOUNT AS YOU CAME WHEN YOU CREATED IT...AND BE GONE!

[blablahblah]

I have a theory about this bet which I'm not sure others have stated yet. I don't think Matthew ever intended to pay out if he lost, but I think as time went on and it became more apparent that he was going to lose the bet, he kept increasing the bets more and more to make the whole thing look like a ridiculous prank. Look at all the people now saying 'But all of you KNEW he wasn't going to pay out 80,000 BTC'... The bet increases were a ploy to make the whole thing so absurd that only a 'fool' would have expected him to pay out.

Ahh, I was wondering why the thread referred to 10kBTC, yet everyone was talking about 80kBTC. Whatever his "real intentions" were, this lynching just keeps getting sadder. I don't even know the guy, but I sure hope he's OK.

[smoothie]

I don't think Matthew is sorry for anything other than losing the bet.
Below is a not so private skype conversation he initiated with me earlier today.

[9/10/12 3:47:49 PM] Matthew N. Wright: Just wanted to say that I'm sorry for any negative backlash my prank might have caused. I had never intended to take that bet seriously and was laughing for 3 weeks straight for which I honestly thought would be an easy "fuck you", but it turned out I was shortsighted and hurt a bunch of people. That really wasn't my intention and I feel awful. I took the necessary steps for the businesses I'm involved in and have decided to take a back seat to everything from now on.

[9/10/12 3:48:51 PM] Roger Ver: I saw your posts and listed to you on DonkDown Radio.   I don't believe you.

[9/10/12 3:51:15 PM] Matthew N. Wright: Don't believe the posts?
[9/10/12 3:51:37 PM] Matthew N. Wright: Or don't believe that I'm sorry for the backlash of this troll?

[9/10/12 3:51:52 PM] Roger Ver: I don't believe that you intended for it to be a prank from day one.
[9/10/12 3:52:07 PM] Roger Ver: I'm sure you are sorry that you lost the bet.

[9/10/12 3:53:31 PM] Matthew N. Wright: I had discussed the prank with johnthedong, Vicente, and several others beforehand. It was all a show. I heard the arguments as to why it "must have been a scam", but regardless of how it looks, I was caught up in the entertainment.
[9/10/12 3:54:09 PM] Matthew N. Wright: I'm not sorry for trolling the community (it really needed it and I believe I have helped push through some new changes), I'm just sorry so many people who I thought would laugh at it ended up just getting hurt by it. That wasn't intentional.

[9/10/12 3:56:20 PM] Roger Ver: I think your best course of action at this time would be to stop lying about it being a joke from day one.  Then post an apology on the forum telling everyone that you thought you were going to win the bet,  and that you are sorry that you never had the money to make good on your half of the bargain.

[9/10/12 3:59:16 PM] Matthew N. Wright: cbeast has suggested the same thing but I am not sure what an apology would do. Although I know I stepped over a line of sorts, there are people trying to use what I say against me legally at this moment (including Vladimir) and I am not sure what an apology to the community would result in

I call bullshit. One user admitted that he had escrowed 40 bitcoins with a third party on the bet with MNW and has received those bitcoins.

Matthew believed he would win. Just listen to his first interview with Micon: http://www.donkdown.com/media/DDRadio-2012_08_22_19_00_07.mp3

[smoothie]

And nothing of value was lost.

1. 40 bitcoins that were escrowed
2. Anyone attempting to hedge with Matthew's bet because they were invested with pirate.
3. Anyone who was buying pirate debt at higher prices lost.
4. Matthew's job as EIC at bitcoin magazine was lost.
5. Bitcoin Magazine will likely suffer some tarnish to their rep as they were directly involved with him.
6. ........

Need I say more?

Get your facts straight.

[dayfall]

Why would he pay out the fractions he is able to? Would it really improve your opinion of him if he paid you 1/1000th of what you bet, assuming all his money is distributed proportionally? To me his money won't matter. Only thing that will is the rest of his actions.

But trying to get out of a bet when you think you might lose?   He is a cheater.  Admitting it should be his first action. 

Paying what he can would be the next action.  Yes, I think it would help.  How about a personal written apology, then?  Hmm, nope.  Nothing in my inbox even.

He could have won the bet.  That is not to be taken lightly.  He thought he would; now, if he thought he was going to lose then it would be completely different.

"Boy, have I been taken
 Oy, I'm so forsaken
 I should have seen what came to pass
 I should have known to watch my ass!
 I feel like Othello
 Everything is lost
 Leo is Iago
 Max is double-crossed!
 I'm so dismayed.
 Did I mention I'm betrayed? "

[bitcoiners]

In hindsight, I no longer see this bet as being funny and I think it was in horrible taste. The community members who were my friends who are standing up against this are right in doing so I and I have no place in the bitcoin community as I clearly don't take it as seriously as everyone else. I am happy to have learned so much from Bitcoin and I'm glad to have shared in many experiences as well, but I cannot discount the claims that I have some issues with manicism as there is no other explanation for my often irrational behavior. I'll be seriously looking at my life and exiting from the community with my sincerest apologies.

Mihai Alisie will be speaking for the Bitcoin Magazine at the London conference. I am in the process of exiting the company completely equity and all in addition to already having resigned as a director and Editor in Chief, as it seems the right thing to do for the future of the magazine.

Ellet's IP is being handed over to a more capable party and I will be exiting any involvement with it.

DCAO is being dismembered and the existing heads will start another organization a bit more seriously toned.

I will not be involved in any businesses in this community any longer. It is clear my immaturity is hurting the community more than I am helping it, and the position I have been in has only resulted in hurting myself and those around me. I'm glad to see that many people did get my joke, but I ask that they not defend me as even I see now that it was crossing all sorts of lines that should never have been crossed and I have absolutely no excuse for it.

I'm sorry I let so many people down that I never even realized actually cared and I hope I can somehow serve as an example of what not to do so that all of this was not a complete waste.

I will now leave how I came.

You truly are a piece of shit.  Everyone knows you're full of shit.  This wasn't a prank this was attempted robbery.  You were betting with money you didn't have.  You made Pirate victims not sell their debt and take your bet as a hedge.  You made people, including me, buy pirate debt based on this bet.  You made people lose money.  Period. 

This does not absolve you of anything.  You are in debt to me 1000 BTC.  I expect it to be paid.  You will never restore your credibility until all your 80k BTC debt is paid.

The fact you no longer have your fancy title at bitcoin magazine means nothing to me.  You still have stake in the company.  I will never buy one because of you.  In fact I will never buy anything you or your partners do, ever.  You have fucked many people in this bet not just the bettors but also business associates, lenders who have given you money, the businesses you still have equity in, and people that stood up for you.  They stood up for a scamming piece of fucking shit and will forever be on my ignore and I'm sure many others.

I would have respected you just a little more had you said this blew up bigger than you could handle and it turned into a scam.  The fact that you try and lie even now just proves how low of a human being you are.  Thing is, I don't think you even care.  You are just a drama whore who is now also a scammer.

Get Fucked.

[Gabi]

You truly are a piece of shit.  Everyone knows you're full of shit.  This wasn't a prank this was attempted robbery.  You were betting with money you didn't have.  You made Pirate victims not sell their debt and take your bet as a hedge.  You made people, including me, buy pirate debt based on this bet.  You made people lose money.  Period.

0/10 trolling

you bought pirate debt basing on a bet? oh LOL

[bigasic]

Why are there so many people saying its no big deal because technically no money passed hands directly? The only reason that he got away with this mess is because 1. He was a mod. 2. head honcho of Bitcoin mag. 3. Very good reputation.

When I play poker and I make a side bet, who ever looses pays, simple as that. No  money exchanged hands when the bet was made. The bets are made because of trust that both individuals will live up to their end of the agreement. Plain and simple.

He made the bet. Thinking he was going to win. (many bets were offered to be escrowed but were turned down by the forum better, (smart ones did though,lol). He was willing to escrow bets until he got up to the 5k coin range..

The fact that pirateat40 offered to buy him out and him refusing is another sign that he thought Pirate would pay.

Who cares if no money exchanged hands! Damages occurred as I have seen many analogies regarding this.

Matthew thought he was going to get rich of this scam and then he would have been trolling this forum with "told ya so's" for months.

His intentions were not honorable. He is a liar and a thief.. No two ways about it.. You can rationalize it all you want, but MNW did cause a lot of harm, not only to him, but to every bitcoin business he is/was associated with.

Good grief..

[repentance]

You made Pirate victims not sell their debt and take your bet as a hedge.  You made people, including me, buy pirate debt based on this bet.  You made people lose money.  Period. 

There are plenty of legitimate grounds for criticising Matthew, but he no more made people do the things you list than pirate or the pass-through operators made people give pirate their Bitcoins.  Buying pirate debt on the basis of someone else's actions is ridiculous - you have no way of knowing whether they're just trying to inflate the price for their own benefit.  People with true inside information try to hide it from the market because sharing their inside knowledge dilutes its value.

[bitcoiners]

man, my ignore list is filling up today.  keep supporting a scammer people

[JoelKatz]

Buying pirate debt on the basis of someone else's actions is ridiculous - you have no way of knowing whether they're just trying to inflate the price for their own benefit.

You're seriously arguing that if you take a loss because you trusted someone, it's your fault for trusting them? Or are you saying it was ridiculous for anyone to trust Matthew? Are you secretly trying to make him look worse?

[rynmln]

Please forgive my noobish ignorance... but I would never give BTC to a user with the name "pirate."

[BCB]

Please forgive my noobish ignorance... but I would never give BTC to a user with the name "pirate."

You'd think some of these quys would be smarter then that!

[rynmln]

Please forgive my noobish ignorance... but I would never give BTC to a user with the name "pirate."

You'd think some of these quys would be smarter then that!

Yes, but I think it speaks to our general desire as a community to be a community. To work for the common goal that BTC go mainstream is why we want to trust each other. It also raises interesting thoughts in my mind about humanity as a whole and our desire for trust, need and acceptance... but I wont go into that here. I can't speak thoughtfully enough on the matter in question to do it any sort of justice.

[TheBible]

You'll operate under a new account and remain secretly involved in your businesses.

Free Market, where reputation is paramount!  (unless you just change your name.)