Sirlibz
A race sponsored by Bitstamp allows bikers from South Africa and other parts of the world to compete and winners get paid in Bitcoin (BTC). The race is known as Munga MTB and is directed by Alex Harris.
The race for this year will commence in the first week of December and top 3 winners get to share from the pool of 1.5 BTC in prize money. Last year the money was 1.5 BTC and was divided into 3: men, women and the development category which involves the non-white bikers.
The racers run across more than 1000 kilometers through the semi-desert Karoo and get to rest, eat and get mechanical aid in 5 different race villages.
The director of Munga MTB race Harris explained that their sponsor Bitstamp had initiated the idea of using Bitcoin as a form of payment; this made them convert the prize money as at that time to the equivalent in Bitcoin. Harris goes on to further explain the distribution of the price money to the winners. He explains that the Bitcoin goes to the “Munga Bitstamp account” since the South Africa Reserve Bank (SARB) is yet to regulate cryptocurrency. The winners of the race gets to decide if they want the Bitcoin or ask for the coins to be sold and fiat sent to them
