New experiment gives all MIT undergrads $100 in Bitcoin
— By Tyler Falk on April 30, 2014, 3:14 PM PST
What an absurd waste of $100 per student! Just three of the BETTER alternatives come to mind:
1) Give each student $100. of canned vegetables with an attached coupon for a discount price on further purchases at a local Boston area shopping chain and then collect the coupons to see if local stimulation of food markets causes a cascading response in food sales. Or in other words, will people take free food given to them by students seriously enough to be responsible to a feat of book keeping for their project. That information would at least serve to determine whether any form of survey, has a chance of being effectively distributed amongst any but special interests.
2) But $100. of condoms for each student and then track STDs and pregnancies through the University's medical group to see if their having easy free access makes a difference in the frequency statistics.
3) Give each student an ARDUINO controller, a three axis gyro sub-module, two small stepper motors, a protoboard and a handful of sensors, batteries, wires, switches, and other hardware, and then hold a contest for the best, more community serving application that one student with one batch of parts can build from them.
Not particularly sure what this achieves, other than keep the self-serving "Bitcoin Community" bandwagon rolling in the media.
Whilst there are events like the MtGox bankruptcy/theft, other shenanigans in the works, wildly (suspiciously?) varying exchange rates, it being used for shady/unlawful/laundering? purposes and no-one prepared to guarantee this alleged 'currency' or virtual wallets - most normal people will not touch them with a bargepole.
From me, as it's MIT, I would have thought something like an MSDN annual subscription would be great.
@Neil Postlethwaite I agree, but since M.I.T. endorses BitCoins, I'm now going to invest my entire life's savings in them!... yeah sure.
I guess M.I.T. HATES the Federal Reserve?