I assume part of the point is to offset your number 4 with the above number 3: if BTC are stolen because the process of securing them is too difficult, one of the students might come up with a better method of securing them.
BTC has a lot of problems to solve before it can have a chance of becoming mainstream. Giving 5000 undergrad hackers an incentive to solve those problems is genius.
BTC has a lot of problems to solve before it can have a chance of becoming mainstream. Giving 5000 undergrad hackers an incentive to solve those problems is genius.