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Ratchet Bomb

 Playing a Two-Headed Giant game, and my teammate just activated the ability on Ratchet Bomb to force players to sacrifice all cards with a converted mana cost of four, because he had four charge counters on it.

Our opponents played Clockspinning to reduce the charge counter on it to three AFTER Ratchet Bomb was tapped with four charge counters on it.

So what happens? Does Ratchet Bomb's ability trigger with four counters on it or three?

1. Ratchet Bomb has an activated ability, not a triggered ability.
2. That activated ability has its costs paid before your opponent gets priority to respond. One of those costs is to sacrifice it. Therefore, it's no longer a legal target for Clockspinning , so this play is illegal.

If, however, they had targetted an untapped Ratchet Bomb that had 4 counters on it, then the Bomb could be activated in response, and force all nonland permanents with CMC of 4 to be destroyed. The Clockspinning would then fizzle for having an illegal target.

In short, they're pretty much damned if they do, damned if they don't.