I was thinking A, a weekend thing obviously, we can have first rounds extend over a couple of days, then when the 1st round has all matches done, the 2nd will begin, also for any lagging connections or null connections, we can have a 3rd party host to connect the 2 players so things can go smoothly.
Perhaps i pitched the idea to competively, it would more be a tourney for the people who post in your thread regularly (like atleast 5 times or so), it would be a cool way to organize everything and have fun at the same time, your prize is nothing but a job well done, rules would be pretty standard, If we can get a good amount of people I can organize everything, it is after all only online so no harm in it right