In the time - honored custom of giving people things they otherwise do not require for free , the MIT Bitcoin Project will be handing every undergraduate $ 100 in Bitcoin next semester . The campus , the project ’s creators hope , will become a giant societal and economical experiment for Bitcoin .
MIT Sophomore Jeremy Rubin and first - year MBA student Dan Elitzer raise over half a million one dollar bill from alumni and members of the Bitcoin community for the projection . The sum will be separate among the school ’s most 5,000 undergraduates , with the remainder going toward the price of maintain the program .
By put Bitcoin in every digital wallet , the project get to make “ an ecosystem for digital currencies ” at MIT . Students might be inspired to work on projects such as secure pocketbook or microtipping services . “ I think that MIT should be absolutely the nerve centre of the bitcoin universe of discourse , ” Rubin told MIT’snewspaper The Tech . “ As a school that ’s a loss leader in technology and scientific discipline bailiwick … it ’s kind of a shame that we ’re not already at this level . ”
College campuses , with their ego - check economies , do seem like ideal places to try out with a Bitcoin saving — especially a tech - savvy campus like MIT . But , ashigh - profile Bitcoin mishapshave shown , it ’s all a lot more complicated than get by with the normal old banking company . There ’s prices wildly vacillate , exchanges evaporate , digital billfold getting steal — let ’s just say we ’re peculiar to fit in a class from now . [ The TechviaThe Wire ]
Top image : Great Dome at MIT viaJohn Phelan / Wikimedia Commons
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