BG Loam Pox M15

[FTW]

This could be a deck in the future...

Life from the Loam
Raven's Crime
Thoughtseize
Smallpox
Waste Not
Bloodghast
Liliana of the Veil
Abrupt Decay
Maelstrom Pulse

Looking forward to newer printings to see what else could enable this deck. But discard and land destruction in the early game coupled with Loam+Crime lategame (fueled by Waste Not) sounds pretty powerful. Needs a good finisher.

[Spawnk]

The lists I were brewing were mono black so you don't have to worry about Relic of Progenisis or RiP

[Davran]

There's a guy at my local shop playing a worse version of this from time to time. He has Raven's Crime, Thoughtseize, Wrench Mind and Delirium Skeins for discard and eight copies of The Rack (both the original and Shrieking Affliction). It's pretty decent vs. the aggro decks running around, but the UWR matchup is pretty brutal for him. As far as I can tell, the biggest problem he has is running out of gas. Once you get the deck into topdeck mode he has a hard time actually winning the game.

For a finisher, what about Desecration Demon or Abyssal Persecutor? Smallpox gives you one set of outs to Persecutor, plus Liliana and Pulse. You could also try Phyrexian Obliterator...although it's much more difficult to cast. Truthfully though, this deck might just want Tarmogoyf.

You'll also want Deathrite Shaman for sure...

[evanmartyr]

Delirium Skeins is just something that competes with Liliana of the Veil for casting cost and deck space. There's an 8-rack deck wandering around on the MTGsalvation forums that is fairly polished, if somewhat underpowered. It relies a bit too heavily on Ensnaring Bridge for my taste, but it's not terrible.

I'm not sure Waste Not is a good fit for any sort of attrition-based control deck that doesn't focus on resource denial, since you're relying mostly on your opponent keeping spells/creatures in their hand, while actively stripping spells/creatures out of their hand, and the Rack and Shrieking Affliction are both generally better win conditions than it in any case.

In a deck with "each player draws and discards x cards" type effects, though, maybe.

Waste Not -> Burning Inquiry or Molten Psyche could be fairly explosive, since even if you're only gaining marginal utility off them you're probably generating a couple mana you can use to Raven's Crime or Thoughtseize afterwards, as well as pooping out some 2/2s. That new Cipher spell too, maybe? I dunno, could be a thing.

OP: Blood Ghast can't block and is worse as a win condition than the Rack effects. Life from the Loam doesn't get you very far without cycling lands, wasteland, or efficient manlands...Mutavault is as close as we get to efficient in Modern, and it's pretty size-limited. So Loam without Borborygmos or Seismic Assault is pretty meh.

[FTW]

OP: Blood Ghast can't block and is worse as a win condition than the Rack effects. Life from the Loam doesn't get you very far without cycling lands, wasteland, or efficient manlands...Mutavault is as close as we get to efficient in Modern, and it's pretty size-limited. So Loam without Borborygmos or Seismic Assault is pretty meh.

Loam is for Raven's Crime+Loam. Each land equals a discard effect. That seems good in conjunction with Waste Not. If they discard land, you get more mana to cast more stuff (i.e. retrace Crime or Worm Harvest or something). If they discard creatures, you get tokens. If they discard spells, you draw some cards. Either way, you can get a lot of mileage out of up to 3 Crime activations per turn. Loam basically guarantees their hand is always empty.

Bloodghast is because it's free when you're dredging around with Loam. Rack effects would get dredged through and ignored. Should probably play some Racks too, but it's nice to have something that comes online through dredging. If not Ghasts, then maybe Worm Harvest.

[Mr. Safety]

I think if you're going for Loam/Crime/Tectonic Edge and some sort of Smallpox/Liliana plan then Gifts Ungiven becomes really, really, really, really good. Waste Not is a fantastic value-based card with that entire game plan. Gifts also allows for flexibility in matchups where Waste Not isn't going to get you there fast enough (I'm thinking mostly RDW/Burn, Boros, or R/G Blitz)

If I were to do Waste Not with Loam it would be almost automatic that I'd want Gifts. That could be wrong but it certainly seems good. Waste Not is what Megrim/Liliana's Caress always wanted to be, as in NOT dissapointing.