Although if someone has something REALLY amazing you'd probably want to keep it to yourself instead of handing over the rights to another company for only $10,000 
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. Actually no you are false about that
Quote from: http://bithackathon.com/terms.html
Grant of License: All Contest submissions shall remain the property of the submitting Participant. Each Participant agrees that Coinbase may, without any limitation or further compensation, use his or her name, voice and/or likeness in any and all media for the purpose of advertising and promoting Coinbase or the Contest. By submitting an App, the Participant acknowledges and agrees that Coinbase may obtain many entries in connection with this and/or other competitions staged and/or promoted by Coinbase, and that such entries may be similar or identical in theme, idea, format, or other respects to other entries. Participants waive any and all claims they may have had, may have, and/or may have in the future, that any Participant and/or other works accepted, reviewed and/or used by the Participant may be similar to his or her submission, or that any compensation is due to the Participant in connection with such submission. By submitting an App, the Participant grants permission for the App to be posted and/or linked to on a Coinbase website.
