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Comment by poolpool | Hacker News Reader

This is $200,000 in bitcoins, not actually $200,000.

what do you think the definition of "$200,000 in bitcoins" is?

I think it means its 200k in "bitcoin" thats near impossible to cash out at such volumes. So I think this is a PR stunt and nothing more.

Rolling your own encryption has always been proven to be the worst idea.

$200k in Bitcoin is relatively easy to cash out without affecting the market much these days.

You can easily cash that out today. $200k is not a huge deal.

200k USD will be paid in BTC

There's more than enough volume on any established exchange. $200,000 is roughly 380 BTC at the current price on Bitstamp (~$530). If you were to sell 380 BTC now on Bitstamp there are enough buy orders for the entire sell to be filled before the price got to $525.

If you don't like BTC and other cryptocurrencies, we will be happy to transfer regular 200,000 USD to you after you win. It's up to you.

Вы офигенно придумали. Молодцы!

I personally think it's great that people are trying various solutions. Disclaimer: I know little about cryptography

Well it's $200,000 today, $386,000 tomorrow, $120 the day after that...

Pick a good day for brilliance.

Apparently we don't read here on HN. From http://core.telegram.org/contestfaq:

> Q: What if I don‘t trust bitcoins and don’t want them as a prize?

>If the winner prefers conventional money over bitcoin, we will be happy to transfer them 200,000 regular USD instead of BTC.

Reply on news.ycombinator.com