the terms: lose 20 pounds within 5 months (February-July 2014) in a healthful way. participants cannot do anything that will be detrimental to their health; crash dieting, for example, would be an automatic disqualifier. the bet is operational on the honor principle.
the costs: the bet loser has to do something personally abhorrent to them. for me, that would be abstaining from my smartphone and/or social media for personal use.
the 1/4 of this bet: http://criticalmas.com/2014/02/fat-loss-bet/
and: the FUCK IT diet