Free BTC at MIT

[Beliathon]

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?

Because charity is unethical - it only serves to legitimize the utterly repugnant system that is capitalism.

[factor280]

Very cool idea and hopefully something ingenious comes out of this!

[Nerazzura]

This is a great promotional as it will bring more young people to know and use Bitcoin.

I agree. Along those same lines I gave my young nephew a paper wallet loaded with a little bit of BTC for his birthday.

yes you can also use for greeting big days like Christmas. Halloween and so on. that's one way to introduce them to their bitcoin accustomed

[Harley997]

This is a great promotional as it will bring more young people to know and use Bitcoin.

I agree. Along those same lines I gave my young nephew a paper wallet loaded with a little bit of BTC for his birthday.

Doing this could end up teaching your nephew some bad lessions about security and keeping private keys safe.

[BillyBobJoe]

Doing this could end up teaching your nephew some bad lessions about security and keeping private keys safe.

I wrote him a note explaining the basics and how he does not want to lose his "wallet". I closed the note by telling him to talk to me about what software to use and how to do it. Which he did, and he is good to go. He swept the wallet into our wallet of choice successfully. But you are correct, next I do need to make sure he has it backed up. He does live a distance from me, I can not hold his hand the whole time, and he does have parents who do understand the need to backup computer data.

Edit: And the value, while may be substantial to him at his age, is not a great deal if it is lost.

Regards,

[meowdea]

And I couldn't have more respect for MIT, since bitcoin is often associated with drugs, and I could see negative media articles published about how MIT is "enabling" students to purchase illegal things...But they are smartly looking beyond that possibility.

You know I hear cash has been used a couple times to buy drugs.

[STAyre]

And I couldn't have more respect for MIT, since bitcoin is often associated with drugs, and I could see negative media articles published about how MIT is "enabling" students to purchase illegal things...But they are smartly looking beyond that possibility.

You know I hear cash has been used a couple times to buy drugs.

Are we really going to correct the guy who said that he is glad that for once people can see past the prejudice, by explaining to him how the prejudice, which he is glad people are seeing past, is wrong?

[STAyre]

And I couldn't have more respect for MIT, since bitcoin is often associated with drugs, and I could see negative media articles published about how MIT is "enabling" students to purchase illegal things...But they are smartly looking beyond that possibility.

You know I hear cash has been used a couple times to buy drugs.

Don't you think he knows that prejudice is wrong? Don't you think that's what he was referring to? Don't you think we are all smart enough to understand what he's saying?

[montreal]

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?

I think you misunderstood the situation. Giving the students $100 in btc was not a charitable donation. Most of these students don't need handouts.Instead they are trying to draw more bright young minds into BTC. A lot of valuable contributions, startups, and innovation could come from a select group like this.

[ShakyhandsBTCer]

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?

I think you misunderstood the situation. Giving the students $100 in btc was not a charitable donation. Most of these students don't need handouts.Instead they are trying to draw more bright young minds into BTC. A lot of valuable contributions, startups, and innovation could come from a select group like this.

A $100 "donation" to MIT students will likely go a lot further then giving $100 to a homeless person/shelter. The MIT student will likely eventually contribute to society in some way (hopefully this project will make some of them make their contribution somewhat bitcoin related). On the other hand the homeless simply drain from society

[Harley997]

Doing this could end up teaching your nephew some bad lessions about security and keeping private keys safe.

I wrote him a note explaining the basics and how he does not want to lose his "wallet". I closed the note by telling him to talk to me about what software to use and how to do it. Which he did, and he is good to go. He swept the wallet into our wallet of choice successfully. But you are correct, next I do need to make sure he has it backed up. He does live a distance from me, I can not hold his hand the whole time, and he does have parents who do understand the need to backup computer data.

Edit: And the value, while may be substantial to him at his age, is not a great deal if it is lost.

Regards,

I would be interested to know if the bitcoin is sold/traded for something or if it is just held

[BillyBobJoe]

I would be interested to know if the bitcoin is sold/traded for something or if it is just held

I wrote a brief paragraph pointing out the history of BTC values and what they may or may not do in the future.

[hodap]

100 dollars is chunk change compare to the amount of tuition the students pay.

[Harley997]

I would be interested to know if the bitcoin is sold/traded for something or if it is just held

I wrote a brief paragraph pointing out the history of BTC values and what they may or may not do in the future.

It sounds like you got him a lot more then $250 worth of bitcoin. From what it sounds like you gave him a vast amount of knowledge regarding bitcoin.

If enough young people get interested in using bitcoin then many more merchants will likely start to accept bitcoin as many companies look to trends of the youth as they have a lot of discretionary income (be it either from their own earnings or from their parents). 

[nahtnam]

Where did they get 1/2 a million dollars?

[Leina]

I would be interested to know if the bitcoin is sold/traded for something or if it is just held

I wrote a brief paragraph pointing out the history of BTC values and what they may or may not do in the future.

It sounds like you got him a lot more then $250 worth of bitcoin. From what it sounds like you gave him a vast amount of knowledge regarding bitcoin.

If enough young people get interested in using bitcoin then many more merchants will likely start to accept bitcoin as many companies look to trends of the youth as they have a lot of discretionary income (be it either from their own earnings or from their parents). 

Young usually also mean gullible. And yes, if you enough gullible people join the currency revolution, it will happen.

[JypsiCreme]

And I couldn't have more respect for MIT, since bitcoin is often associated with drugs, and I could see negative media articles published about how MIT is "enabling" students to purchase illegal things...But they are smartly looking beyond that possibility.

You know I hear cash has been used a couple times to buy drugs.

also by MIT students

[illymoka]

And I couldn't have more respect for MIT, since bitcoin is often associated with drugs, and I could see negative media articles published about how MIT is "enabling" students to purchase illegal things...But they are smartly looking beyond that possibility.

You know I hear cash has been used a couple times to buy drugs.

also by MIT students

I misread that at first thinking you said people were buying MIT Students.
I've not slept for some time.

[CoinMode]

He said "a homeless shelter"

You completely changed the topic.

No, that doesn't change my message at all. Giving bitcoin to homeless shelters is not going to spur innovation either. MIT students are far more likely to start some sort of program for the homeless using bitcoin than some overworked shelter which barely has enough manpower to hand out soup and blankets.

You are living in a fantasy world. Give it to the students who will create the innovations in the network that will allow it to serve the homeless population well. Homeless shelters are not really known for technological innovation, in case your dumb ass didn't notice.

You think anymore than maybe 1% or 2%, if even that, on these boards are using it for innovation? No they are no even spening it. They are holding and bullshitting about how rich and eliet they will be someday.

You dumb ass.

When did I say we should give $100 worth of bitcoin to people on this board? You seem confused, in general.

[BillyBobJoe]

When did I say we should give $100 worth of bitcoin to people on this board? You seem confused, in general.

I didn't say you did, DUMB ASS.