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Author Topic: Micro startup/investment class project/experiment in China  (Read 4730 times)
Nefario
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February 23, 2011, 05:10:56 AM
 #1

So the college semester has begun, and I think I have done something cruel to my classes.

I have 3 English/Business major's and this semester I am doing something different with them.

I have given them a project, worth 35% of their final mark.


They must form a bitcoin company.

I give the company 2BTC as a startup fund
To pass the company must have over 8BTC at the end of the semester
Extra marks are given for anything over this amount.

Each company must have a CEO, the ceo's final mark is 100% related to the amount the company has, nothing else. So the CEO's success is connected to the success of the company.

Each company must have a CFO, this person is responsible for all the money, the are also responsible for paying staff (although the CEO decides what to pay). The CEO chooses the CFO, the CFO cannot be changed. Also the CFO gets paid.

Staff- everyone else is staff, they must get the companies to give them a job, every staff member must be paid each week. The staff negotiate with the CEO for their pay.

The CEO can hire and fire anyone(except the CFO, they're stuck with them) at anytime.

Non-CEO's mark for this project depends on how much btc they can earn before the end of the semester.

Anyone without a job when we have class(once a week) loses marks, not from their project but from participation(worth 40% of the final mark). Go unemployed for too long and they fail the class.

Companies can trade with each other, borrow, lend, beg, steal, I don't really care.

Each week the CEO must present a report on their company, how much the have, what they spent, who works there etc.


This does a few things, firstly it forces the CEO to push the company to succes, or they fail the class. This means they will fire staff who are lazy, try to hire good ones etc. Making sure lazy students are thrown out od the group

It forces lazy students to work hard, they can't stay in a company if they don't work and bring something to it. And they can't stay unemployed without failing the class.

And because they must get their BTC from outside China they will be forced to interact with others in English.

It also turns the class into something of a market, hopefully it will be great experience for all those involved.

I have 3 classes doing this, each class has about 100 students, which is split into 6 companies.

So I must opologise, over the next few weeks and months there will be an influx of users to the forums with quite poor English trying to do, what will most likely be fairly small amounts of business.

This is a kind of experiment, I want to see what kind of return I get if any, I also want to see what these kids do, and if they will make any kind of difference to the bitcoin economy.

What do you think?

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February 23, 2011, 05:21:31 AM
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It seems there are only 5 Bitcoin nodes in mainland China, excluding Hongkong and Taiwan.

http://maps.google.com/maps?q=https://smsz.net/btcStats/bitcoin.kml

I've been watching this map for a while now, the growth rate there is one of the lowest too. With active member like you, I'd expect more.
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February 23, 2011, 05:29:21 AM
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What do you think?

So you're a professor at a university in China?

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February 23, 2011, 05:36:07 AM
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I have 3 English/Business major's and this semester I am doing something different with them.
...
They must form a bitcoin company.
I give the company 2BTC as a startup fund
To pass the company must have over 8BTC at the end of the semester
Extra marks are given for anything over this amount.

I think this is a fantastic idea, and I look forward to seeing the experiment unfold!  Do they get to keep the BTC they earn? 

"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history." --Gandhi
Nefario
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February 23, 2011, 05:39:17 AM
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What do you think?

So you're a professor at a university in China?

Yes and no. I'm not a professor(professors do research), I just teach at a university. I develop the materials and classes, I'm certainly the bes English teacher here at least.

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Nefario
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February 23, 2011, 05:40:24 AM
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I have 3 English/Business major's and this semester I am doing something different with them.
...
They must form a bitcoin company.
I give the company 2BTC as a startup fund
To pass the company must have over 8BTC at the end of the semester
Extra marks are given for anything over this amount.

I think this is a fantastic idea, and I look forward to seeing the experiment unfold!  Do they get to keep the BTC they earn? 

I will get my initial "investment" back, plus 25% of anything else they make, the rest is theirs.

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February 23, 2011, 05:44:52 AM
 #7

25% seems a bit much, but I like this idea. Did you already start this? I want to know how it goes.

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February 23, 2011, 06:10:29 AM
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25% seems a bit much, but I like this idea. Did you already start this? I want to know how it goes.

It's high-risk venture capital.  25% is not a lot.

"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history." --Gandhi
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February 23, 2011, 06:33:43 AM
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2 BTC is an awfully tight budget... One small mistake could cost them their entire company. That's a hard assignment.

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February 23, 2011, 07:49:27 AM
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2 BTC is an awfully tight budget... One small mistake could cost them their entire company. That's a hard assignment.

Not really, the startup capital is to allow a market environment to develop in the class. Staff would be paid 0.0001BTC a week or something like that.  Of course this will trend upwards for the best staff, and downwards for the worst. So it could be 1,100,1000,or 10,000BTC it doesnt matter. The companies would be able to pay each other to do work.They can also beg or borrow from each other. With the exception of the CEO's and CFO's not being able to leave the company it's a completely free market, with no rules only that those with more money win.

They probably wont be spending the btc to the west but among each other.

As for when I will be starting, today already. I've already introduced the whole idea to two classes, one seemed interested, the other not so much. It seems that they're put off by how difficult it will be for them more than anything. The next class will be tomorrow.

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February 23, 2011, 07:55:58 AM
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Oh, I had assumed that they were going out in the wild. If they are just trading with each other, the amount of money is irrelevant.

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Nefario
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February 23, 2011, 08:22:31 AM
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Oh, I had assumed that they were going out in the wild. If they are just trading with each other, the amount of money is irrelevant.

Exactly, but at the same time, they're going to be trying to offer goods or services to those on this forum.

I gave them 2BTC, their company needs 8BTC to pass, they're not going to get this just trading with each other. At least not without most companies losing and only one winning, which may happen.

I have no idea what they're going to come up with. But one thing is for sure, a good few of them will be on here.

Oh also, this won't expand nodes in China, at least not yet as they will be using mybitcoin accounts at first. Most of these kids don't have computers, they'll be using the college libraries.


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Nefario
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February 23, 2011, 09:12:12 AM
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here goes your anonymity

Possibly. However I still have a chance, unless someone is actually looking for me and questioning the students as they start showing up on the forum.

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February 23, 2011, 09:17:37 AM
 #14

Is this even legal in China? 0.0

(I dont always get new reply notifications, pls send a pm when you think it has happened)

Wanna gimme some BTC for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX Smiley

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February 23, 2011, 09:30:44 AM
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Is this even legal in China? 0.0

Well, bitcoin itself, being used as a currency for normal goods and services in China no it's not.

Giving students "play money" to "trade" with each other and with foreigners online for educational purposes I think is ok. Anyway, it would take the government to come out and specifically state "You can't use this" to make it illegal. As long as I'm not operating an exchange(which I no longer do  Tongue ) then it's fine.

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February 23, 2011, 09:44:30 AM
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So the college semester has begun, and I think I have done something cruel to my classes.

I have 3 English/Business major's and this semester I am doing something different with them.

I have given them a project, worth 35% of their final mark.


They must form a bitcoin company.

I give the company 2BTC as a startup fund
To pass the company must have over 8BTC at the end of the semester
Extra marks are given for anything over this amount.

Each company must have a CEO, the ceo's final mark is 100% related to the amount the company has, nothing else. So the CEO's success is connected to the success of the company.

Each company must have a CFO, this person is responsible for all the money, the are also responsible for paying staff (although the CEO decides what to pay). The CEO chooses the CFO, the CFO cannot be changed. Also the CFO gets paid.

Staff- everyone else is staff, they must get the companies to give them a job, every staff member must be paid each week. The staff negotiate with the CEO for their pay.

The CEO can hire and fire anyone(except the CFO, they're stuck with them) at anytime.

Non-CEO's mark for this project depends on how much btc they can earn before the end of the semester.

Anyone without a job when we have class(once a week) loses marks, not from their project but from participation(worth 40% of the final mark). Go unemployed for too long and they fail the class.

Companies can trade with each other, borrow, lend, beg, steal, I don't really care.

Each week the CEO must present a report on their company, how much the have, what they spent, who works there etc.


This does a few things, firstly it forces the CEO to push the company to succes, or they fail the class. This means they will fire staff who are lazy, try to hire good ones etc. Making sure lazy students are thrown out od the group

It forces lazy students to work hard, they can't stay in a company if they don't work and bring something to it. And they can't stay unemployed without failing the class.

And because they must get their BTC from outside China they will be forced to interact with others in English.

It also turns the class into something of a market, hopefully it will be great experience for all those involved.

I have 3 classes doing this, each class has about 100 students, which is split into 6 companies.

So I must opologise, over the next few weeks and months there will be an influx of users to the forums with quite poor English trying to do, what will most likely be fairly small amounts of business.

This is a kind of experiment, I want to see what kind of return I get if any, I also want to see what these kids do, and if they will make any kind of difference to the bitcoin economy.

What do you think?

Great Plan, not sure it's entirely moral... perhaps a little Evil even.... a Great Evil Plan indeed Doctor Nefario. Mwa-hahaha.



At a stroke you've engaged hundreds of young, bright, motivated Chinese people with the bitcoin economy.

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February 23, 2011, 09:48:03 AM
 #17

I have 3 English/Business major's and this semester I am doing something different with them.
...
They must form a bitcoin company.
I give the company 2BTC as a startup fund
To pass the company must have over 8BTC at the end of the semester
Extra marks are given for anything over this amount.

I think this is a fantastic idea, and I look forward to seeing the experiment unfold!  Do they get to keep the BTC they earn? 

I will get my initial "investment" back, plus 25% of anything else they make, the rest is theirs.

Evil. Mwa-hahahah.

1Q1yKUsSXr4KrxriJ4VRxhs6iS1WqBVL93

For your daily bitcoin updates, all you need are these...
http://thebitcoinsun.com/ and http://bitcoinweekly.com
Nefario
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February 23, 2011, 09:59:30 AM
 #18

Yes this is where I got my forum name. I think it is sad that Toy Story 3 won the award and not Despicable me.

I really like that movie.

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February 23, 2011, 10:31:56 AM
 #19

This is borderline psychological experiment.

(I dont always get new reply notifications, pls send a pm when you think it has happened)

Wanna gimme some BTC for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX Smiley

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February 23, 2011, 10:42:21 AM
 #20

Good stuff! I wish there would be more enlightened professors like you all around the world.

He's not a Proffesor, he's an evil mastermind. and lecturer.

It'd be great if more bitcoiners were in a position to do something like this. I might try suggesting a competition on other forums I'm involved with. Merely a challenge to make as many bitcoins as possible in a month. Winner is the Winner, all participants of course get whatever bitcoins they managed to get. No venture capital as the world is your oyster. Fight!

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