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$200,000 to the first person to break Telegram

telegram.org

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Re: $200,000 to the first person to break Telegram

#21

Post by Sambdala »

poolpool wrote: post #18
logicallee wrote: post #13

Earlier quoted context omitted.

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.

Re: $200,000 to the first person to break Telegram

#22

Post by eknkc »

poolpool wrote: post #18
logicallee wrote: post #13

Earlier quoted context omitted.

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.

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

Re: $200,000 to the first person to break Telegram

#23

Post by igindin »

poolpool wrote: post #18
logicallee wrote: post #13

Earlier quoted context omitted.

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 USD will be paid in BTC

Re: $200,000 to the first person to break Telegram

#25

Post by flurpitude »

nwh wrote: post #17
StavrosK wrote: post #16

Earlier quoted context omitted.

Unfortunately, this doesn't mean that it's secure. If someone breaks it, it means it's broken, but if nobody breaks it, it doesn't mean someone else can't break it (or hasn't already).

It actually makes things worse really "no hackers can break this!" sounds good on paper, but it could just mean your adversary has more to gain by the system not being publicly broken.

I don't see how it makes things worse. Surely it shows more if you gave hackers a big incentive to crack your encryption and they still didn't, compared to them not cracking it when there was no incentive. It is evidence that the reason they did not crack it was the difficulty of the problem, not just indifference.

Re: $200,000 to the first person to break Telegram

#26

Post by citricsquid »

poolpool wrote: post #18
logicallee wrote: post #13

Earlier quoted context omitted.

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.

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.

Re: $200,000 to the first person to break Telegram

#28

Post by asperous »

jd007 wrote: post #11

Is that $200,000 in BTC valued at the time that the award will be given, or valued now? With the way things are going, not sure which would be better...

At the time of the reward. This is implicitly stated by the fact that he didn't specify the number of BTC. $500 is still a ton btw, two months ago a Bitcoin was worth $200.
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