M.I.T's Bitcoin Project

[Tech_Dreamer]

We've all heard about Casinos and certain universities accepting bitcoin,Now a major player has entered into the crypto currency game , but its not accepting, but rather giving out Bitcoins to its Students for free.

 

 

Brand new news surrounding Bitcoins emerged, as the Massachusetts Institute of Technology is experimenting with the cryptocurrency, MIT officials are now offering their new undergrads upto 100$ in bitcoin money as a part of a project they're developing. given they're not accepting any currencies as of now, but its a project on work/devolopment.

 

the project is working under "MIT Bitcoin club" the goal of the project is to create a small community of bitcoin users who then use it to create a small crypto coin economy and experiment with benifits and cons of this non-government backed currency as weather it will trend or sustain the economy for a certain amount of time.

 

We’re trying to seed an ecosystem and see what emerges - Dan Elitzer

 

a community with an understanding of Bitcoin - Jeremy Rubin

 

(courtesy:yahoo.com)

 

Current project manager Jeremy Rubin (sophmore/Left side of the picture above) and Dan Elitzer (MBA candidate/president of MIT BTC Club) raised 500,000$ from alumni and ofcourse from bitcoin community to fund this project, the plan is to expand the economy from the small community to the whole university , it's a "hit or miss" as the project devolopers know the risks underlying the murky crypto currency and its trust value,

 

 

 

 

What's interesting about Bitcoin is that it allows provisionless innovation, so you don’t have to go through a central authority & could allow direct interaction between buyers and sellers without the overhead of a middleman

 

                                                                                                       - Dan Elitzer

 

 

Project devolopers are saying that they will be doing the bitcoin exchange in a secure fashion. :blink: (yeah, like that'll work) , one of the goal is to explore the benifits crypto currency has on the society., as time progresses several units and area stores will be made within the campus community where students can trade bitcoins for products/services, thus expanding the community to a larger base.

 

 

 

sources:

 

 

http://btcnews.com.au/mit-bitcoin-project.html

https://news.yahoo.com/mit-undergrads-100-bitcoin-digital-money-trial-210708727--sector.html

& many others..

 

Post your comments and rants down below and dont forget to rate this thread,

 

this is my first time posting a topic on this thread , so Criticism (bad & good) and epic rants are welcome,

 

Thanks for reading so far, here have a cookie

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

a ninja always tread lightly

[CtW]

This is actually really cool.

[JLCitadel]

I'm going to get a bit coin or two.. just incase they become super rare someday and valuable.

[dragosudeki]

Good idea. Using it for what it actually was intended to be, instead of everyone just mining it to transfer it back to their currency.