Some people make new ideas sound easy because that is how all ideas (good or bad) start. The idea that started in this thread has legs now. Guess why? Because I didnt have to write a whitepaper to get it published.
$1,000 $5,000 $10,000 would get the attention of no-one. Its like betting my little brother 50 cents I can run faster than him. WOW thats not a lot of confidence in my running skills. No media. No Hype. No Nothing. Go Big or Go Home. 
[quote=“BIGbtc, post:41, topic:5755”]
Some people make new ideas sound easy because that is how all ideas (good or bad) start. [/quote]
See, that´s the difference: I find that making things sound easy when they are actually (given present conditions) close to impossible will lead to the ultimate failure of the initiative. It´s nothing personal - just that you can see it everywhere, particularly in crypto-universe. Good things don´t start with “what if”, but with a person who just starts.
You are overdoing things. Your proposal doesn´t need a whitepaper. It just needs money and some guidelines, that´s it.
Ya, well, James Randi did it this way and I think he didn´t care about the concerns you try to set up. He simply did it, instead of talking what still has to be done, before beginning. Fact is, when you are really willing to put your money where yer mouth is, you need to PUT IT DOWN - that means: you will not be able to use it at all for as long as the contest goes - the longer, the better. This is not a common contest where you can win - it´s one that you are never going to have if everything goes right. If you believe you can crowdfund 10000$ spare money for that easily, I suggest you prove me wrong. I´d even bet 10$ against you as an incentive 
Incentive? My point exactly.
I’d see your $10 and add $20. See this is exactly the point of the post we’d essentially be building a decentralized gambling system, or as it’s commonly called these days “insurrence.” But at the end of the day a gamble is a gamble. And if we built the system right we could gamble on anything. We don’t need to build something specific for a million dollar bounty, or even a $100 bounty, or even bounties at all. We just need to build a platform for a decentralized gambling system that we could use, among other things, to take out gambles (inssurence) against the chance someone would find a bug in the network or that they would be able to hack the network. Such gambles would need to be able to be crowdfunded, in other words people would need the ability to add money to “the pot” over time. And as the pot grew so would the potential reward. But as I said such a gambling framework would be of use to other risk taking chances. Think of decentralizing the entire insurance industry here and getting rid of private companies and their insane insurance policies. You want to gamble you’ll get sick? No problem. You want to gamble on the weather? No problem. You want to take a bet out on the next horse race? Again no problem.
I realize this could be a topic all unto itself but the point HERE is that such a platform could be applicable to creating such a bounty, and other bounties, while having much wider community benefits. You want a million dollar bounty? Get people to take out a $10 bounty first and just keep adding money to the pot. It doesn’t sound like a lot but it’s easier to bet $10 or $20 than $100 or $1,000. And if you get a lot of people doing that it adds up.
You could even bet the other way, that someone will hack the SAFE network by x date or in y amount of time and when it doesn’t happen the people that bet that SAFE would be hacked will lose money and the network will gain more credibility and subsequently be more willing to put their money into the bounty wagers.
Why would? Do you add 20 or don´t you? And what about you @BIGbtc? Do you bet against or what? Let´s set up a deadline. I don´t like to theorize an ramble about what could be and want could not.