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> In the unlikely case something very bad happens to bitcoins between now and then (or ours are stolen or become unavailable for reasons outside our control), w
by matthuggins 14y ago
> In the unlikely case something very bad happens to bitcoins between now and then (or ours are stolen or become unavailable for reasons outside our control), we reserve the right to pay $2,000USD instead.
Does this go both ways? What if Bitcoins are worth $500 USD at come award time? Will you still be paying in BTC, or will you just pay $2,000 USD instead?
- glomph 14y agoPresumably they have the 10btc set aside. It would be a bit stingy to hold it back if btc goes up, but I guess they might.
- malgorithms 14y agoNope, I will pay in bitcoins. I fully intend to pay in bitcoins (which I have set aside), regardless of the value, but reserve the right to pay in cash in case something happens to mine AND they become ridiculously expensive. I would pay $500/coin to buy them back in the case you describe. I would not pay $10,000/coin, however, if my 10 were stolen. Just protecting myself and my family from a crazy event.
- matthuggins 14y agoFair enough, just thought I'd ask. :) I can't even view the site properly because of my work proxy, but I'm interested in taking a look later and perhaps participating.
- seanalltogether 14y agoMight I suggest transferring the 10 btc to a custom wallet with a single address in it, encrypting the wallet and simply putting it online for everyone to see/download. The winner gets the password to the wallet.