Choose: Walk The Plank or Keelhaul

[pirateat40]

Howdy,

As most of you know the infamous Vandroiy and myself entered into a wager for 5,000 each (10,000 BTC total).  If you missed it, you can check it out here https://bitcointalk.org/index.php?topic=91661.0.

With the knowledge of what he was up against I must say that I respect Vandroiy’s commitment of following through and placing his money where his mouth is.  It’s rarely seen on the Internet and I commend him for it.

With that said, I simply wouldn't have made the wager unless I knew exactly what the outcome would be.  So the time has come for Vandroiy to make his final decision.

Vandroiy has the following (2) options to choose from:

• Concede the wager to me (pirateat40) per the details below.
  
  • Vandroiy: Signed document confirming the action to concede the wager.
  • pirateat40: Signed document accepting Vandroiy’s action.
  • pirateat40: Will donate the entire wager balance (10,000 BTC) to a charity of the forums choosing.

• Don’t concede the wager and chance the outcome of Aug 14th.
  
  • pirateat40: Nothing changes and pirateat40’s winnings (5,000 BTC) go to the charity of the forums choosing.

Vandroiy has until Thursday at 5:00PM CST to make his decision.

Let the fun begin.

-pirate
 

[1713555170]

1713555170

[1713555170]

1713555170

[1713555170]

1713555170

[1713555170]

1713555170

[jamesg]

I am pirateat40 and I approve this message. 

[koin]

As most of you know

the reason we know is because this crap percolates into the trading forum rather than off-topic or gambling where it belongs.

[DeathAndTaxes]

How is this a trading discussion?  What trade are we discussing?

[BlackBison]

is the wager money in escrow? if not this has to rank as the worst bet i have ever seen someone make (Vandroiys)..

[copumpkin]

is the wager money in escrow? if not this has to rank as the worst bet i have ever seen someone make (Vandroiys)..

Yes, it is.

[BlackBison]

ah ok, scratch that comment then 

[BTCurious]

[Tomatocage]

• Don’t concede the wager and chance the outcome of Aug 14th.

Wait, I thought Vandroiy said something about you folding before the end of the year.  Where did he say by August 14th?  Granted, I didn't read through that entire thread.

Nevermind, I was thinking of the BetsOfBitco.in bet: http://betsofbitco.in/item?id=433[/list]

[Bjork]

Howdy,

As most of you know the infamous Vandroiy and myself entered into a wager for 5,000 each (10,000 BTC total).  If you missed it, you can check it out here https://bitcointalk.org/index.php?topic=91661.0.

With the knowledge of what he was up against I must say that I respect Vandroiy’s commitment of following through and placing his money where his mouth is.  It’s rarely seen on the Internet and I commend him for it.

With that said, I simply wouldn't have made the wager unless I knew exactly what the outcome would be.  So the time has come for Vandroiy to make his final decision.

Vandroiy has the following (2) options to choose from:

• Concede the wager to me (pirateat40) per the details below.
  
  • Vandroiy: Signed document confirming the action to concede the wager.
  • pirateat40: Signed document accepting Vandroiy’s action.
  • pirateat40: Will donate the entire wager balance (10,000 BTC) to a charity of the forums choosing.

• Don’t concede the wager and chance the outcome of Aug 14th.
  
  • pirateat40: Nothing changes and pirateat40’s winnings (5,000 BTC) go to the charity of the forums choosing.

Vandroiy has until Thursday at 5:00PM CST to make his decision.

Let the fun begin.

-pirate
 

Why would he concede.  If he really thought he was going to lose he could just invest in BS&T as a hedge and win no matter the outcome.  Just my .02 btc

[bpd]

Nonsense post is nonsense.

[Serge]

If Vandroiy's determined you're going to default by sometime in October 2013, why would he give up so early in the game?
Even if he changed his mind and thinks he already lost, it would not make sense to concede

[davout]

As most of you know

the reason we know is because this crap percolates into the trading forum rather than off-topic or gambling where it belongs.

Hahaha, this, a million times.

[dooglus]

Don’t concede the wager and chance the outcome of Aug 14th.

What's the significance of that date?  The bet is until October 2013 or so isn't it?

[myrkul]

Don’t concede the wager and chance the outcome of Aug 14th.

What's the significance of that date?  The bet is until October 2013 or so isn't it?

That was, I believe, the date of the Vegas meetup. The bet was, If I recall correctly, that pirate would default by then.

The October bet is something else. (see my sig)

[Tomatocage]

Wait, so we've got three separate bets going on here? 

[Serge]

wager terms from OP link:

Contract signed by me. Expect same contract signed by pirateat40 and vandroiy shortly. Once deposits are made, I'll post confirmation message.

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

This contract is a contingent payout agreement between irc user known as pirateat40 (otc gpg key fingerprint 067508A49BBE0E8216A61A94614DB74CFA5B357E) and irc user known as vandroiy (otc gpg key fingerprint 5BD4BBB2FAABBB6877396A720380BA6269B31D08).

otc user nanotube (otc gpg key fingerprint D8B11AAC59A873B0F38D475CE7F938BEC95594B2) will serve as escrow agent for the agreement, holding in his care the bitcoin contributions from both parties, until such a time as the contingency can be decided unambiguously.

The contingency in question is to be the default of by pirateat40 (defined below) on BTCST obligations. In case default occurs, the funds held by nanotube will be disbursed to an address of vandroiy's choosing. In case default does not occur, the funds will be disbursed to an address of pirateat40's choice.

pirateat40 and vandroiy shall each deposit with nanotube 5050 (five thousand and fifty) bitcoins, of which 50 (fifty) shall be a fee to nanotube, and 5000 (five thousand) shall go toward the contingent payout, for a total of 100 (one hundred) bitcoins fee to nanotube, and 10000 (ten thousand) bitcoins contingent payout.

=Definitions=

==Pirate default==

A default will be construed to have occurred, if at any time prior to October 1 2013, 00.01 UTC, BTCST will be late by at least 14 calendar days, in disbursing either any regularly-scheduled interest payment, or any withdrawal request, by a valid account holder of BTCST.

===Verification of default claims===

nanotube will hold in his possession a data set containing hashed usernames and withdrawal addresses of all BTCST account holders, and will be supplied any differences in such table at regular intervals, in case of account closures or creations. A user making a claim must submit to nanotube his BTCST account username, and registered BTCST withdrawal address, as well as any supporting documentation as to the payments that were due but failed to be disbursed.

===Unexpected contingencies===

In the event of any unexpected contingencies not explicitly described in this contract, or any ambiguities, nanotube shall have final discretion in the determination of contract outcome.

===Change in BTCST ToS===

BTCST has the right to change the terms of its outstanding deposits at any time, as long as there is advance notice of at least 30 calendar days. Such changes may include changes in promised interest rates (as long as interest rates do not go below zero), changes in interest disbursement frequency (not to exceed 1 month intervals), interest tiers, forced withdrawals. Such changes shall not be construed to be a default event.

The event of dissolution of the BTCST business and return of all owed funds to all account holders, also shall not be construed as a default event.

==BTCST==

BTCST is the business known as "Bitcoin Savings and Trust", currently being operated by pirateat40, with current web address of https://btcst.com/ .
-----BEGIN PGP SIGNATURE-----

iEYEARECAAYFAk/3W14ACgkQ5/k4vslVlLK1iwCcC/9DejW57u4Z+bLGnjKseEpN
GOEAn0vzfaCUYWlkW1mSyRRyRxsVpkmc
=CoVk
-----END PGP SIGNATURE-----

[dooglus]

The October bet is something else. (see my sig)

The 5000 BTC bet was for October 2013.  See https://bitcointalk.org/index.php?topic=91661.msg1013612#msg1013612

You're talking about the futures bet, 50 BTC at $11 each, but that's October 2012 and is entirely different.

[Coinoisseur]

Is this in trading discussion because Pirate is opening the doors to public deposits starting August 1st 13th (got the date wrong, my bad)? Pirate saying, see I'll still have funds coming in to beat your arbitrary date might as well fold now thanks to my clever maneuver to expand the funding base?

https://bitcointalk.org/index.php?topic=90327.msg1048502#msg1048502

[myrkul]

Wait, so we've got three separate bets going on here? 

No, apparently I was mistaken:

The October bet is something else. (see my sig)

The 5000 BTC bet was for October 2013.  See https://bitcointalk.org/index.php?topic=91661.msg1013612#msg1013612

You're talking about the futures bet, 50 BTC at $11 each, but that's October 2012 and is entirely different.

All the same, Based on the OP, I'd wager Pirate's going to end his deal, one way or the other, on August 14th. If the meetup is on the 13th (sorry, I can't remember), then that would indicate that Pirate wants out of his bet before then. The only reason I can think of is that he predicts that he will run out of money around that time.

Or, he could just be being nice, and offering a way for Van to save face.