Jimmy Song and Joe Lubin on 69.74 Bitcoin bet: 'Joe doesn't want the bet'

14 May, 2019
by Richard Allen
Jimmy Song and Joe Lubin on 69.74 Bitcoin bet: 'Joe doesn't want the bet'

Former Bitcoin developer, Jimmy Song and ConsenSys and Ethereum co-founder, Joe Lubin sat down with CoinDesk to discuss a bet the two made last year.

During Consensus 2018, Lubin bet Song “any amount of Bitcoin” the availability of decentralized apps with real user traction would become widespread within five years. Song felt that from 2013 to 2018, companies like Factom and Mastercoin hadn’t done anything, and five years from then nothing would be done either.

Now, a year after the bet was first made, Song is arguing that the terms of the bet still have not been agreed upon, leading him to believe that “Joe just does not want to bet.” Joe fires back saying, “I will agree with you that the priority of getting this bet done has been much lower for me than it has been for you,” stating that a “detailed document” has been made. Additionally, a time frame has been set as have the amounts in Ether and Bitcoin.

The revised terms of the bet are as follows:

“Fifteen unique dApps achieve 10,000 DAUs (daily active users) and 100,000 MAUs (monthly active users) for any six calendar months in any 12 calendar month period up to and including the 31st of May 2023 all of which have to be on the main Ethereum network. Jimmy Song will pay 810.8 Ether to Joseph Lubin if this condition is not met. Joseph Lubin will pay Jimmy Song the amount of 69.74 Bitcoin,” based upon the prices at the time they shook hands.

With the two having reached an agreement and the bet going ahead, time will tell who the winner is.

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