Bitcoin @ MIT

[ndnh]

Any impact on price??

[CoinRocka]

You should be a millionaire by Monday.

[rickmontier]

There will be impact on long term plan do not expect anything fast

[SomethingElse]

It is very exciting because instead of bitcoin getting a random bakery in London and then 5 kilometers down the road a beer joint accepting bitcoin, in Boston every store with in a couple of square miles will accept bitcoin.  It will be the first time bitcoin has successfully developed and existed in its own little micro-economy.  If the MIT experiment works, the is the first real step to Bitcoin being a real currency verses a payment system or commodity. 

[jamesc760]

I think it's an exciting news, needs to be posted across the Interweb more. Nerds rule!

[waldox]

the next generation adopting bitcoin is a great sign.
mit is the leading technology school in the world
they are the future tech executives and decision makers
this is a great sign

[DeboraMeeks]

You should be a millionaire by Monday.

I wish, the price wont budge much.

[keithers]

No impact on price whatsoever because it was such a small amount of money used to buy the BTC for all the undergrads.   What will be more interesting are the business and products that get invented out of those students, because MIT has some of the brightest people on the planet.

[TrailingComet]

None whatsoever, we are talking about 4,000 coins
Drop in the ocean

[TrailingComet]

Longer term impact may be to get some very bright MIT undergrads interested in innovating in the ecosystem

[ndonnard]

That experiment with micromodel of bitcoin-based economy MIT undergrads launched seems really brilliant. Hope the results will be good.

[JazzCouncil]

"Students can cash out their Bitcoins if they like, and the project intends to have some mechanism for them to readily buy their way back in."
http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/

SO glad to see this. Perhaps the distribution will skew to current Bitcoiners who buy it up from their classmates, but maybe less than expected if there's an "official" alternative that the students know is available should they want to offload them without any trouble, and simultaneously a means for them to get back in if and when the buzz really catches on.

[keithers]

That experiment with micromodel of bitcoin-based economy MIT undergrads launched seems really brilliant. Hope the results will be good.

It is almost impossible for the results to be bad.   What is the worst case scenario?  If every single person sold off their holding at the same time, it still would not be enough to even impact the prices at all.   On the flip side, introducing BTC to probably the heaviest concentration of geniuses, can only result in some good results...

[bryant.coleman]

Right now there are less than 1,000,000 people who own Bitcoins (and a very large part of them have less than BTC0.01 each). Adding 4,000-5,000 people to this pool is very impressive growth. 

[tabnloz]

I think it is a very smart initiative from the 2 MIT guys.

Borrowing from the facebook example (where it gained traction on campus before hitting the wider public), this gets a whole lot of Next Gen kids not only into the possibilities of bitcoin, but, as said upthread, it should create a bitcoin based economy in the MIT area. Then of course, there are the long term benefits where the new users innovate the shit out of the space.

[lyth0s]

Yeah I think the additional benefit from possibly creating a micro bitcoin environment is that these students may very well create new innovations and services that are bitcoin based. MIT doing this could very well be the beginning of something big

[Pony789]

Right now there are less than 1,000,000 people who own Bitcoins (and a very large part of them have less than BTC0.01 each). Adding 4,000-5,000 people to this pool is very impressive growth. 

And those 5000 people are *hopefully* smart and well-educated.

[bitsmichel]

I watched the whole conference. If you want a brief summary (or video link) check bitprize.org
In general there were 4 topics: intro, legal and technical. The last part shows a starting information on how to make bitcoin products/services, which is the most interesting. If you are in the US, then the legal part is also very interesting  

Price influence is long term. From a presentation:



We are now in the early adaptors phase according to one of the presenters, so we are in the investors, crypto-anarchists or the creators.   If you are a day trader this has no influence.

[upal]

If u missed the show, watch out here => https://www.youtube.com/watch?v=tqlvk51uS1M

[Snax]

mit is the leading technology school in the world

Excuse the fuck out of me, but have you heard of CalTech which consistently ranks higher than MIT?

So much MIT fanboy dick-hoping here, jesus control your tits everyone.