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Topic: Free BTC at MIT (Read 6047 times)

quone17 (OP)

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Free BTC at MIT

April 29, 2014, 02:17:03 PM

http://bitcoin.mit.edu/announcing-the-mit-bitcoin-project/

Wow $100 for free, like the students at MIT need more free money. How about giving it to a homeless shelter instead?

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BitCoinDream

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Re: Free BTC at MIT

April 29, 2014, 02:20:20 PM

Quote from: quone17 on April 29, 2014, 02:17:03 PM

http://bitcoin.mit.edu/announcing-the-mit-bitcoin-project/

Wow $100 for free, like the students at MIT need more free money. How about giving it to a homeless shelter instead?

The matter of the fact is a homeless does not make or break a Bitcoin business, but an MIT student does. So business reaches out to their prospective customers.

p.s. Same thing happen at the time of election for the homeless. Political parties woo them with gifts for vote.

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durrrr

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Re: Free BTC at MIT

April 29, 2014, 02:23:07 PM

now how would a homeless person use 100$ in bitcoin and also the fact that all of these mit students are going to learn about bitcoin is going to open the eyes to a whole new amount of people and its going to be good for bitcoin overall and hopefully will spread more knowledge as well

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windpath

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Re: Free BTC at MIT

April 29, 2014, 02:37:29 PM

VERY cool!

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When the distribution happens this fall, it will make the MIT campus the first place in the world where it will be possible to assume widespread access to Bitcoin

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nescio9

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Re: Free BTC at MIT

April 29, 2014, 02:52:28 PM

Nice project! Will be fun to see what the students will do with it. This will probably spark some bright minds, or just

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blatchcorn

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Re: Free BTC at MIT

April 29, 2014, 03:04:10 PM

Slowly but surely this baby is going mainstream Cheesy

durrrr

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Re: Free BTC at MIT

April 29, 2014, 03:50:13 PM

Quote from: blatchcorn on April 29, 2014, 03:04:10 PM

Slowly but surely this baby is going mainstream Cheesy

this is completly right think about how many big things in the news weve heard and yeah its not that major but its steps in the right directions. believe and hodl and bitcoin will be booming soon

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bryant.coleman

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Re: Free BTC at MIT

April 29, 2014, 03:53:21 PM

Are they going to give Bitcoins to the students, or are they going to convert the coins to fiat cash, and then distribute the proceedings among them? I hope they don't convert the coins.

Jcw188

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Re: Free BTC at MIT

April 29, 2014, 03:55:24 PM

Quote from: bryant.coleman on April 29, 2014, 03:53:21 PM

Are they going to give Bitcoins to the students, or are they going to convert the coins to fiat cash, and then distribute the proceedings among them? I hope they don't convert the coins.

They are giving them BTC I assume. Hmm I wonder how they are going to give them to the students though. Like would they force everyone to install qt or give them a blockchain account? I got the impression they are going to buy the BTC though, that was my point, they're using fiat to buy BTC.

bryant.coleman

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Re: Free BTC at MIT

April 29, 2014, 04:20:58 PM

#10

Quote from: Jcw188 on April 29, 2014, 03:55:24 PM

I got the impression they are going to buy the BTC though, that was my point, they're using fiat to buy BTC.

Nope... they got the coins mostly through donations from the alumni. A total of $500,000 worth of coins... that must be some BTC1,100 to BTC1,200. Pretty impressive... have to say. Grin

Chemistry1988

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Re: Free BTC at MIT

April 29, 2014, 04:45:32 PM

#11

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The organizers admit they do not know how students will decide to use their bitcoin. However, they plan to use the time between now and when the bitcoin is distributed to build up the Bitcoin ecosystem at MIT. This will include working with members of the MIT Bitcoin Club to educate merchants around campus and help them get set up to accept Bitcoin payments.

Not only they will give away $100 bitcoin to each student, they are planning to boost merchant acceptance around the campus.

Bit_Happy

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Re: Free BTC at MIT

April 29, 2014, 04:47:24 PM

#12

Quote from: bryant.coleman on April 29, 2014, 04:20:58 PM

Quote from: Jcw188 on April 29, 2014, 03:55:24 PM

I got the impression they are going to buy the BTC though, that was my point, they're using fiat to buy BTC.

Nope... they got the coins mostly through donations from the alumni. A total of $500,000 worth of coins... that must be some BTC1,100 to BTC1,200. Pretty impressive... have to say. Grin

This is not just a great promo to boost the future price of BTC.
Also, bright young minds are turned onto the ideas behind "freedom money".

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C. Bergmann

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Re: Free BTC at MIT

April 29, 2014, 04:52:00 PM

#13

i think mit students are the least people in the world who need free money

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Jcw188

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Re: Free BTC at MIT

April 29, 2014, 04:55:23 PM

#14

Quote from: C. Bergmann on April 29, 2014, 04:52:00 PM

i think mit students are the least people in the world who need free money

Yeah that's what I was saying at first. I think they could do this project but what about giving money to some charities as well. Well I bet MIT is more interested in technology than people LOL

farlack

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Re: Free BTC at MIT

April 29, 2014, 05:06:34 PM

#15

Quote from: quone17 on April 29, 2014, 02:17:03 PM

http://bitcoin.mit.edu/announcing-the-mit-bitcoin-project/

Wow $100 for free, like the students at MIT need more free money. How about giving it to a homeless shelter instead?

So give it to a homeless shelter so homeless people cant spend it on their phones they don't have. Or give it to one of the top ranking schools in the world, with the top ranking intelligence in the world, with people moving into the most advanced sectors on the planet.

I will take MIT over a homeless shelter.

Chemistry1988

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Re: Free BTC at MIT

April 29, 2014, 05:10:33 PM

#16

Quote from: farlack on April 29, 2014, 05:06:34 PM

Quote from: quone17 on April 29, 2014, 02:17:03 PM

http://bitcoin.mit.edu/announcing-the-mit-bitcoin-project/

Wow $100 for free, like the students at MIT need more free money. How about giving it to a homeless shelter instead?

So give it to a homeless shelter so homeless people cant spend it on their phones they don't have.

The homeless people don't need a phone to be benefited from the donation, say for example, the bitcoin can be used for a charity organization to provide food for homeless people.

bitcoinerater

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Re: Free BTC at MIT

April 29, 2014, 05:14:00 PM

#17

I wonder where they got the bitcoins they are giving away? It wasn't clear in the article. Maybe they mined them in the beginning from MIT hardware? Cool idea! I wish my University did this.

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Re: Free BTC at MIT

April 29, 2014, 05:17:14 PM

#18

Quote from: C. Bergmann on April 29, 2014, 04:52:00 PM

i think mit students are the least people in the world who need free money

I don't think that this is about free money. This is about spreading knowledge and essentially some coins.

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Chemistry1988

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Re: Free BTC at MIT

April 29, 2014, 05:20:06 PM

#19

Quote from: bitcoinerater on April 29, 2014, 05:14:00 PM

I wonder where they got the bitcoins they are giving away? It wasn't clear in the article. Maybe they mined them in the beginning from MIT hardware? Cool idea! I wish my University did this.

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The bulk of funding for the project is being provided by MIT alumni with significant additional support from within the Bitcoin community.

Looks like the funds came from alumni donation mainly.

cr1776

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Re: Free BTC at MIT

April 29, 2014, 05:22:43 PM

#20

Quote from: LaudaM on April 29, 2014, 05:17:14 PM

Quote from: C. Bergmann on April 29, 2014, 04:52:00 PM

i think mit students are the least people in the world who need free money

I don't think that this is about free money. This is about spreading knowledge and essentially some coins.

And the people who donated the coins donated it for a purpose - getting it into the hands of a lot of very technically minded students who can do development for it. If someone else want to donate to a homeless shelter, no one is stopping them.

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