[PRIVATE BET] Luceo & Xisalty: Bitcoin vs Litecoin Price Bet

[Luceo]

This is a bet between Luceo and xisalty, to be settled at 23:59 UTC on 31st December 2012.

Update: Paid to yet another address requested by xisalty (http://blockchain.info/tx-index/40498248/0ca8fc93244bd6389e5f576f370bc2361cbe0df86f7cdf23861af0434789ac73) on page 2. Congrats xisalty on winning the bet.

If the last traded price on BTC-e in the pair LTC/BTC is lower than 0.004 BTC per LTC at the time of settlement, xisalty will send 10 Bitcoins to 1NywtxytKx1LLHTMT475hkKoCdZPZJYpsB.

If the last traded price on BTC-e in the pair LTC/BTC is equal to or higher than 0.004 BTC per LTC at the time of settlement, Luceo will send 10 Bitcoins to 1Gsx5wKDaSDuEyPeNg5W9EGXRTLrg9nkaA*.

In the event that BTC-e is no longer trading at the time of settlement, the bet shall be declared a draw.

I will wait for xisalty to confirm this. Putting this here in public so that it doesn't get forgotten, or the terms reneged upon, or anything else of that nature.

* Note (SEPTEMBER 17TH 2012 04:23 UTC): xisalty requested an address change in post 11 which Tittiez quoted in post 12, this is why the address which appears here is different to that quoted below by deego.

[1715260964]

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[1715260964]

1715260964

[1715260964]

1715260964

[1715260964]

1715260964

[FreeMoney]

This is a bet between Luceo and xisalty, to be settled at 23:59 UTC on 31st December 2012.

If the last traded price on BTC-e in the pair LTC/BTC is lower than 0.004 BTC per LTC at the time of settlement, xisalty will send 10 Bitcoins to 1NywtxytKx1LLHTMT475hkKoCdZPZJYpsB.

If the last traded price on BTC-e in the pair LTC/BTC is equal to or higher than 0.004 BTC per LTC at the time of settlement, Luceo will send 10 Bitcoins to 1EBW2cYHAC6LqTf9c5EfFh2rVHZPpwH2gr.

In the event that BTC-e is no longer trading at the time of settlement, the bet shall be declared a draw.

I will wait for xisalty to confirm this. Putting this here in public so that it doesn't get forgotten, or the terms reneged upon, or anything else of that nature.

That's a longish bet.

Just out of curiosity are you holding the 10 bitcoins or will you go to market near that time? If you are holding the 10 it might be a better deal to get a buttload of LTC for it and bet that way, no counter-party risk and a lot more potential upside assuming you think LTC will actually be going way up beyond .004. A way to get that upside and still do a bet is to make him payout in LTC, probably set the amount equal to the 10BTC at the current rate.

That's all just random thought, gl.

[SaltySpitoon]

I should mention that I am not Xisalty, but I was witness to the bet, and everything was fairly done/agreed upon.

[Luceo]

That's a longish bet.

Just out of curiosity are you holding the 10 bitcoins or will you go to market near that time? If you are holding the 10 it might be a better deal to get a buttload of LTC for it and bet that way, no counter-party risk and a lot more potential upside assuming you think LTC will actually be going way up beyond .004. A way to get that upside and still do a bet is to make him payout in LTC, probably set the amount equal to the 10BTC at the current rate.

That's all just random thought, gl.

I always have enough BTC on hand to pay out this kind of volume without an issue, so I'll be holding 10 BTC. I'm betting against LTC and he's going long on LTC, which is why I've elected to do it this way. Sadly there's no options to short LTC without counter-party risk at the moment.

[xisalty]

This is a bet between Luceo and xisalty, to be settled at 23:59 UTC on 31st December 2012.

If the last traded price on BTC-e in the pair LTC/BTC is lower than 0.004 BTC per LTC at the time of settlement, xisalty will send 10 Bitcoins to 1NywtxytKx1LLHTMT475hkKoCdZPZJYpsB.

If the last traded price on BTC-e in the pair LTC/BTC is equal to or higher than 0.004 BTC per LTC at the time of settlement, Luceo will send 10 Bitcoins to 1EBW2cYHAC6LqTf9c5EfFh2rVHZPpwH2gr.

In the event that BTC-e is no longer trading at the time of settlement, the bet shall be declared a draw.

I will wait for xisalty to confirm this. Putting this here in public so that it doesn't get forgotten, or the terms reneged upon, or anything else of that nature.

I am posting here to confirm that these are the terms of the bet.
Good Luck Luceo.

[Luceo]

Good luck to you too, sir. ^^

[FreeMoney]

That's a longish bet.

Just out of curiosity are you holding the 10 bitcoins or will you go to market near that time? If you are holding the 10 it might be a better deal to get a buttload of LTC for it and bet that way, no counter-party risk and a lot more potential upside assuming you think LTC will actually be going way up beyond .004. A way to get that upside and still do a bet is to make him payout in LTC, probably set the amount equal to the 10BTC at the current rate.

That's all just random thought, gl.

I always have enough BTC on hand to pay out this kind of volume without an issue, so I'll be holding 10 BTC. I'm betting against LTC and he's going long on LTC, which is why I've elected to do it this way. Sadly there's no options to short LTC without counter-party risk at the moment.

Oh, I see I had it backwards.

[xisalty]

Just to update with Luceo and the others, I recently lost access to my address used in the bet. Just posting so that the first post can be updated with a new address to be used. 1Gsx5wKDaSDuEyPeNg5W9EGXRTLrg9nkaA is the new address.

[Tittiez]

Just to update with Luceo and the others, I recently lost access to my address used in the bet. Just posting so that the first post can be updated with a new address to be used. 1Gsx5wKDaSDuEyPeNg5W9EGXRTLrg9nkaA is the new address.

Quoted

[Luceo]

Just to update with Luceo and the others, I recently lost access to my address used in the bet. Just posting so that the first post can be updated with a new address to be used. 1Gsx5wKDaSDuEyPeNg5W9EGXRTLrg9nkaA is the new address.

Accepted. Will addendum the first post.

[Luceo]

If someone can re-quote my modified original post for completeness sake I would appreciate it.

[stepkrav]

This is a bet between Luceo and xisalty, to be settled at 23:59 UTC on 31st December 2012.

If the last traded price on BTC-e in the pair LTC/BTC is lower than 0.004 BTC per LTC at the time of settlement, xisalty will send 10 Bitcoins to 1NywtxytKx1LLHTMT475hkKoCdZPZJYpsB.

If the last traded price on BTC-e in the pair LTC/BTC is equal to or higher than 0.004 BTC per LTC at the time of settlement, Luceo will send 10 Bitcoins to 1Gsx5wKDaSDuEyPeNg5W9EGXRTLrg9nkaA*.

In the event that BTC-e is no longer trading at the time of settlement, the bet shall be declared a draw.

I will wait for xisalty to confirm this. Putting this here in public so that it doesn't get forgotten, or the terms reneged upon, or anything else of that nature.

* Note (SEPTEMBER 17TH 2012 04:23 UTC): xisalty requested an address change in post 11 which Tittiez quoted in post 12, this is why the address which appears here is different to that quoted below by deego.

[smoothie]

I'm with Goat on this one. Price is gonna be above 0.004btc/ltc on Dec 31st. Any takers?

[BitcoinINV]

It's already there lol

[Luceo]

The bet was never on whether it would 'get there' (it was over 0.005 when we bet) but whether it would be there on that day, after ASICs and the block reward halving hit.

[420]

Poor Luceo...

Everybody else put your wager!:

http://betsofbitco.in/item?id=797

[Luceo]

I still feel confident. Litecoin has been stable in the 0.006/0.007s before and plummeted back down to the 0.002s.

[420]

I still feel confident. Litecoin has been stable in the 0.006/0.007s before and plummeted back down to the 0.002s.

Then reap more profits off my bet

http://betsofbitco.in/item?id=797

[The Koolio]

I LIKE TRAINS

[420]

I LIKE TRAINS

and turtles

[laSeek]

hmm.. id bet it is above .004.  anyone want to take the other side of this?

hard to bet with/against somebody who owns a large chunk of ltc and likes to influence the price :p

[smoothie]

This might be a close bet. Interesting lol

[420]

This might be a close bet. Interesting lol

[Luceo]

Hi,

xisalty (maybe) wrote this in IRC:

Code:

00:38:59    xisalty | Luceo, I'm goiing to be out at the time of bet conclusion, but if I win can you send the winnings to
                    | 1MisakifjKcG2KWKgY4XES1bkAxdU4ozSE, recently lost access to my last address due to a failing hard drive.
                    | Me thinks he knows what the winnings will be spent on.

Can you please confirm this was you, as I don't want to send the coins to someone else (or to your lost address).

I'm assuming I'll lose so just waiting for your official confirmation in thread for where to send coins.

[420]

$6kUSD to <0.005 just to touch it... no one's doing that today

[Luceo]

Yeah just waiting for xisalty to come and confirm address, since he (or someone claiming to be him) claimed on IRC that he'd lost access to the original address in the thread. I asked him to confirm on the forum.

[xisalty]

Hi,

xisalty (maybe) wrote this in IRC:

Code:

00:38:59    xisalty | Luceo, I'm goiing to be out at the time of bet conclusion, but if I win can you send the winnings to
                    | 1MisakifjKcG2KWKgY4XES1bkAxdU4ozSE, recently lost access to my last address due to a failing hard drive.
                    | Me thinks he knows what the winnings will be spent on.

Can you please confirm this was you, as I don't want to send the coins to someone else (or to your lost address).

I'm assuming I'll lose so just waiting for your official confirmation in thread for where to send coins.

Just posting here to confirm that it was me who posted that in the irc chat, I can confirm that I want the bitcoins sent to 1MisakifjKcG2KWKgY4XES1bkAxdU4ozSE, and would like to pass on my condolences to you upon losing . Hope you have a great new year mate and have a good 2013.

[Luceo]

Congrats on your win!

Well someone had to, and it was swinging both ways up until a couple of weeks ago. Have a great 2013.

0ca8fc93244bd6389e5f576f370bc2361cbe0df86f7cdf23861af0434789ac73

[420]

Congrats on your win!

Well someone had to, and it was swinging both ways up until a couple of weeks ago. Have a great 2013.

0ca8fc93244bd6389e5f576f370bc2361cbe0df86f7cdf23861af0434789ac73

confirmed
http://blockchain.info/tx/0ca8fc93244bd6389e5f576f370bc2361cbe0df86f7cdf23861af0434789ac73