Tone Vays has put his money where his mouth is as he looks for takers of a $250,000 bet that Bitcoin will dip below the $2,000 mark before the 2024 halving.

The settlement of the bet will be in the form of 100 BTC that will be locked in escrow and paid out to Vays if the price drops below $2,000 at any point from the start of the bet until the halving five years from now (approximately).

Here is my bet offer as I take off on a 17hr flight:

If #Bitcoin drops under $2K you give me 100 $BTC = $200K that day.

If it does NOT drop under $2K, I give you $250K or 1 BTC (whichever has a higher $ denominated value)

I have until 2024 halving to be sure $2k won't happen 🙂 — Tone Vays [#Unconfiscatable] (@ToneVays) March 5, 2019

When Vays was challenged about not having $250,000 to pay the potential winner by the 2024 halving, he answered: “That might be true, but I will by 2024 halving :)… I can also sell my NYC apartment that just sits empty since I am no longer there.”

Don't make this Bet. It's the same bet Doug Polk was offering me and I changed it to $10k. You can make it 5k if you like. But it's a rip off for you. If you win you only win 1.5k, but if you lose you lose 6.5k. denominate the bet in USD! — Tone Vays [#Unconfiscatable] (@ToneVays) March 5, 2019

Tone did not approve of Leah Wald’s recent bet to win one Bitcoin for herself and Lucid Invemsnets. He said, “It’s the same bet Doug Polk was offering me and I changed it to $10k. You can make it 5k if you like. But it’s a rip off for you. If you win you only win 1.5k, but if you lose you lose 6.5k. denominate the bet in USD!”

Already $10,000 up

Vays also recently won a $10,000 bet with Doug Polk that Bitcoin would drop below $6,000 before the end of 2019. Polk’s followers believed that he would win at the time (the bet was placed in May 2018, when the price of BTC was $9,400), but he soon lost that bet just a month and a half later.

However, the derivatives trader has upped the stakes quite considerably for his latest bet. Based on Vays’ 0.1 BTC priced “trading courses”, the sum of 100 BTC could represent a huge windfall for one of the oldest Bitcoin maximalists in the space.

Bet accepted?

One person has seemingly already taken Vays up on his bet. Twitter user @Spongecoinbob accepted the terms, and Vays was quick to reply to let him know about the “escrow” requirements for the 100 BTC “lock up”.

Let me know when you are ready to lock up 100 BTC in escrow — Tone Vays [#Unconfiscatable] (@ToneVays) March 5, 2019

However, the profile has no links and has only amassed 214 followers since the account’s creation in June 2014, so the legitimacy of the deal is questionable.

Vays is just about to catch a 17-hour flight, so we will have to wait and see which “crypto influencers” out there want to take him up on his bet.