$200,000 to the first person to break Telegram

Re:$200,000 to the first person to break Telegram by poolpool on Wednesday December 18, 2013 @06:30PM (#6931726)

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.

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Re:$200,000 to the first person to break Telegram by paveldurov on Wednesday December 18, 2013 @06:41PM (#6931791)

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.

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Re:$200,000 to the first person to break Telegram by vasilipupkin on Wednesday December 18, 2013 @07:02PM (#6931944)

Вы офигенно придумали. Молодцы!

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

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Re:$200,000 to the first person to break Telegram by citricsquid on Wednesday December 18, 2013 @06:37PM (#6931767)

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.

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Re:$200,000 to the first person to break Telegram by Sambdala on Wednesday December 18, 2013 @06:34PM (#6931746)

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

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Re:$200,000 to the first person to break Telegram by eknkc on Wednesday December 18, 2013 @06:35PM (#6931756)

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

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Re:$200,000 to the first person to break Telegram by igindin on Wednesday December 18, 2013 @06:36PM (#6931758)

200k USD will be paid in BTC

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