Tournament with Bitcoin Prizes

Are members of Lichess community allowed to host a tournament ( in different rating categories ) with Bitcoin Prize fund ? 1 hour of Bullets and Prize for Top 3

Also should someone open a Bitcoin account so that everyone can add 1 or 2 $ worth bitcoins to Grow the Prize Fund ?

Or everyone can send their donations to the Organizer's Paypal and he will convert it to Bitcoins and do all the stuffs .

This also applies to lichess , First collect the fund to host the tournaments and then host them .

Ofcourse different kind of bugs might appear in this system but We are always willing to Fix them .

We should really look forward to make this happen rather than finding flaws .

Feel free to send any suggestions in the forums or PM .
Thank You !

And what about cheating? Now it is just some rating points, no big deal, but then cheating is stealing money... Who can guarantee the integrity? Now the site moderators do a good job to keep the site as fair as possible, but then they get a responsibility over money.

Hyperbullets would work well . Even bullets .

Before giving the prize to the winners , the games of those winners can be double checked by the Mods and the winners will get their prizes before 24 hours .

I have paypal. J want to participate.

Should we contact lichess mods regarding this ?

Lichess mods watching this .....

I like the idea....

I mean lichess is currently holding a cash prize tournament, so definitely possible. Cheating is handled like every other competition I assume