Shebeen Posted November 22, 2019 Share so the munga prize money has gone from R46k when you entered to ~R28k in bitcoin currently. Great move by the organisers, announce prize money, take entries and then reduce your costs before the race has even started!! Link to comment Share on other sites More sharing options...
nathrix Posted November 22, 2019 Share Good luck to all, can’t wait to follow the dots. Link to comment Share on other sites More sharing options...
JohanDiv Posted November 22, 2019 Share so the munga prize money has gone from R46k when you entered to ~R28k in bitcoin currently. Great move by the organisers, announce prize money, take entries and then reduce your costs before the race has even started!! Surely they have to give the R46k prize money worth of bitcoin on the day they hand over prizes? Then it would be to the winners advantage if the bitcoin price is lower, meaning he'll receive more bitcoin. Link to comment Share on other sites More sharing options...
Dusty Posted November 22, 2019 Share Surely they have to give the R46k prize money worth of bitcoin on the day they hand over prizes? Then it would be to the winners advantage if the bitcoin price is lower, meaning he'll receive more bitcoin. In each category 1st place receives 50% of 0.5 bitcoin2nd place receives 30% of 0.5 bitcoin 3rd place receives 20% of 0.5 bitcoin Edited November 22, 2019 by Dusty BigDL and Long Wheel Base 2 Link to comment Share on other sites More sharing options...
JohanDiv Posted November 22, 2019 Share In each category 1st place receives 50% of 0.5 bitcoin2nd place receives 30% of 0.5 bitcoin 3rd place receives 20% of 0.5 bitcoin Well that sucks!! Long Wheel Base 1 Link to comment Share on other sites More sharing options...
Long Wheel Base Posted November 22, 2019 Share Not knowing much about bitcoin, does the price fluctuate like the exchange rate? Can the winners cash them out? Link to comment Share on other sites More sharing options...
jdwet1980 Posted November 22, 2019 Share Not all countries exchange South African Rands. Maybe Ramses wants Bitcoin? Link to comment Share on other sites More sharing options...
Borborygmi Posted November 22, 2019 Share Link to follow the race please? Link to comment Share on other sites More sharing options...
Shebeen Posted November 22, 2019 Share Surely they have to give the R46k prize money worth of bitcoin on the day they hand over prizes? Then it would be to the winners advantage if the bitcoin price is lower, meaning he'll receive more bitcoin.What you have said makes perfect, rational sense. The organisers have not done that. JohanDiv 1 Link to comment Share on other sites More sharing options...
eddy Posted November 23, 2019 Share In each category 1st place receives 50% of 0.5 bitcoin2nd place receives 30% of 0.5 bitcoin 3rd place receives 20% of 0.5 bitcoin Well that sucks!!After giving it much thought, I decided that this has no impact on my ability or inclination to ride the race. It will in all likelihood also not affect my dot-watching next week so won't be able to summon enough outrage to get worked up about it. gogo@, Bat, nathrix and 4 others 7 Link to comment Share on other sites More sharing options...
Sbloomer Posted November 23, 2019 Share So the prize money is in Bitcoin.... which took a 10% dive yesterday, and looking to drop more. Link to comment Share on other sites More sharing options...
BigDL Posted November 23, 2019 Share Well that sucks!!Why? It is a currency like any other. If they paid a set amount of dollars or pounds or rands or yuan or rubles, the value in different currencies could fluctuate as well. Link to comment Share on other sites More sharing options...
BigDL Posted November 23, 2019 Share So the prize money is in Bitcoin.... which took a 10% dive yesterday, and looking to drop more.As with all currencies, bitcoin fluctuates in value compared to other currencies. Maybe a bit more than most at the moment, but it is still just a currency Link to comment Share on other sites More sharing options...
JohanDiv Posted November 23, 2019 Share Why? It is a currency like any other. If they paid a set amount of dollars or pounds or rands or yuan or rubles, the value in different currencies could fluctuate as well.It's a volatile crypto-currency, hardly a currency like any other. Fact remains they announced prize money in Ronds value, then changed it to bitcoin long after already receiving entries. Link to comment Share on other sites More sharing options...
BaGearA Posted November 23, 2019 Share i'd prefer the million dollars to be honest JohanDiv 1 Link to comment Share on other sites More sharing options...
Kranswurm Posted November 23, 2019 Share i'd prefer the million dollars to be honest Lol absolutely... That was a brain fart of note Link to comment Share on other sites More sharing options...
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