As a professional designer seeing this makes me laugh so hard 
I have 7-8 logo gigs per month beside web & app design and my prices for logos are between 200-500$ sometimes also over 1k$ (big companys), it's really sad to see that you are offering literally spec work to earn 100$ and there are at least 15-30 "designer" only one of you will get this price.
Had also already 5 logo jobs on bitcointalk.
I can't even think about to offer free work for anyone.. My time is way too costly for this kind of stuff.
Better do free logos and improve your portfolio & skills than offering spec work "these competations" are just there to rip you off.
In the time you can earn more money on fiverr or freelancer (i don't use those scam sites though).
But whatever have fun !
HiI have 7-8 logo gigs per month beside web & app design and my prices for logos are between 200-500$ sometimes also over 1k$ (big companys), it's really sad to see that you are offering literally spec work to earn 100$ and there are at least 15-30 "designer" only one of you will get this price.
Had also already 5 logo jobs on bitcointalk.
I can't even think about to offer free work for anyone.. My time is way too costly for this kind of stuff.
Better do free logos and improve your portfolio & skills than offering spec work "these competations" are just there to rip you off.
In the time you can earn more money on fiverr or freelancer (i don't use those scam sites though).
But whatever have fun !
I am not entirely sure what are you trying to tell us.
Is it OP that makes you laugh for offering small $ for a job that is worth much more?
Or, all the participants of this contest makes you laugh for wasting time, after a small price,
that can be won by someone else?
No body is forced to do this, if you so good at your work
embarrass us with glorious logo of your own
