
"BitHack" Hackathon by Coinbase - irunbackwards
http://blog.coinbase.com/post/76553987867/introducing-bithack-hackathon-by-coinbase
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Robin_Message
From the rules:

> Coinbase must be the sole bitcoin payment method included in the app.

So, is it a hackathon to make something cool with bitcoin, or to make
something cool with Coinbase?

Anything anyone does to make bitcoin bigger, better, and more mainstream, will
benefit Coinbase in the long run. So it might be a bit short-sighted to
restrict this unless there is a really good reason.

~~~
hngiszmo
So they put 18k USD on the top 3 applicants that provide their closed source,
coinbase only solution? They already got attention worth more than that by
having us read the terms and coditions. Why not do something cool and
respected. I have no problem with the coinbase API having to be used but the
exclusiveness is so anti bitcoin spirit.

~~~
vdaniuk
Consider the volatility of hackathon ROI for Coinbase. Ofcourse they want to
strengthen the ecosystem of its company and good for them! Their goals are
aligned with the general bitcoin ecosystem. Discovery and adoption of
repeatable, scalable model of generating value with hackathons would be
_absolutely great_ for ecosystem, while benefiting Coinbase. Other companies
would copy and imagine how hundreds of hackathons are held by many startups,
all benefitting bitcoin ecosystem.

I assure you that this is a good thing in the long run, even if may be
considered anti-bitcoin in spirit by some.

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chazandchaz
"All materials submitted in connection with this Contest will not be returned.
By participating, you agree to be bound by these Rules including all
eligibility requirements. Participants acknowledge and agree that all entry
materials submitted in connection with this competition are submitted on a
non-confidential basis and may be used by Coinbase, its agents, subsidiaries,
and related companies, for advertising and promotional purposes. Coinbase
reserves all rights, including the right to edit, publish, use, adapt, and
modify proper names, likenesses, and photographs for advertising and
promotional purposes in all media (including, but not limited to, the
internet) without additional compensation, expect where prohibited by law."
-[http://bithackathon.com/terms.html](http://bithackathon.com/terms.html)

This seems like a pretty brilliant way to get tons of apps for only 18k

~~~
snarkyturtle
I like the part where they say they reserve the right to edit and modify
names, likenesses and photographs. Basically they could take your product and
say that their internal team made it if they wanted to.

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ck2
Why would you award a US dollar amount of bitcoin?

The point is to adopt bitcoin as it's own entity.

Awards should be 10, 5, and 3 bitcoin.

Or if you like big numbers call it 10 million satoshi, 5 million satoshi, 3
million satoshi ?

~~~
simonebrunozzi
1 BTC = 100,000,000 satoshis.

~~~
ck2
Even better then

    
    
        first prize:  billion satoshi
        second prize: half-billion satoshi
        third prize:  300 million satoshi
    
    

Very large numbers, almost sounds like dogecoin.

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aoxfordca
Hey all,

I'm a student who is looking to join a team for the [BitHack
Hackathon]([http://bithackathon.com/](http://bithackathon.com/)) - are any
groups out there looking for someone to help with team coordination, app
testing, user experience, etc.? My background is not technical in nature, but
I've found that I always find a way to contribute in hackathons. I'm not in it
for the money (although that does sound very nice) as much as I am for the
notoriety.

Get at me!

My previous hackathon experience includes:

● Atlanta Govathon (2013) Finalist: Created a web app which scrapes local and
state government websites to centralize public hearing and election
information

● Hack for Cystic Fibrosis (2013) Finalist: Created a mobile responsive web
app called Track*d which helps CF patients track, visualize, and broadcast
medical compliance

● Random Hacks of Kindness (2013) Participant: Created a simple gradebook app
for the Peace Corps which can be easily modified to reflect the language of a
host country

~~~
durkie
Hey -- I might be interested. And I'm in Atlanta. Let's talk!

~~~
aoxfordca
Sure. Email in my profile

~~~
durkie
Is it? I don't think it's visible -- mine is craig at concrete-jungle.org

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siculars
Aside... I use Coinbase. But am I the only one concerned they built a
transactional system on top of MongoDB?

~~~
owenversteeg
Nope. I'm very concerned. That said, I don't use Coinbase (I use
blockchain.info for storage.)

~~~
siculars
Coinbase's buy mechanic is very easy and allows you to not have a bunch of
money stuck inside an exchange. You pay for the pleasure, of course, but if
you aren't dealing in big money the fee's are negligible. Once you have your
btc you can move it anywhere. I'm fully verified so I can insta-buy $1000 in
BTC a day if I like which is more than enough for me ($1000/wk instant buy
limit).

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dmix
Hackathons with cash prizes need to die. It's no longer a "hackathon" when
money is involved. It's an app building contest with cash prizes.

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archerabi
I am interested in working with someone for this hackathon. I don't have an
idea myself. I am a developer from NY/NJ. I have experience developing web and
mobile apps. email me at archerabi at gmail.com

~~~
ashraful
I am interested in participating in this hackathon too. I'm primarily a
designer and was looking for a developer to team up with. I'll email you.

~~~
lnanek2
I'm interesting in teaming up as well. I'm a coder myself, but happy to work
with designers and other coders. I'll email you three.

I'm not glued to any particular idea, but was thinking a fun, one click
trading app might be fun. E.g. some default settings like sell/buy in one
minute or at a set price and then you just click if you think it will go up or
down every once in a while. Like how binary options made trading stocks so
simple and fun. ZoomTrader is a good example of a successful company doing
that.

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Cynddl
"No 24h time limit. No pain. Yes, with $18,000 in prizes.."

A bitcoin hackathon with prizes in dollar? Even if the winners are rewarded in
bitcoin, it's still weird.

~~~
pkinsky
It makes sense. The payoffs are going to show up on Coinbase's balance sheet
in USD, and they don't want to commit to buying $X BTC if the market changes.

On the flip side, if BTC crashes, this is good for participants.

~~~
Roedou
They could just convert the prize money to BTC today, advertise it in that
currency, and not have to worry how the market changes?

~~~
ilya89
Problem there is that you're exposing the participants to volatility risk. if
btc drops in price then people might be less likely to participate. Many view
bitcoin as a great new technology but its price is still too unstable to
actually quote products/prices/prices in. Quote in dollars, delivery bitcoin
and everyone wins

~~~
Roedou
I guess I imagined that being exposed to volatility risk is something that
anyone involved in Bitcoin came to terms with a long time ago.

~~~
pkinsky
Yes, but the smart ones learned to minimize their exposure.

