The oscars are masters at escaping piranhas in the wild because they are smart and have lots of hiding places and escape routes. If you keep an oscar with a piranha in a tank, the escape routes will be a LOT fewer in number, and the piranha will eventually figure out that the eyespot is just a "dummy". My vote: piranhas, if we're talking about this proposed tank, but my vote would be "don't do it" if I am forced to choose between having this tank setup or not.