$100 worth of bitcoins - free!

[kaiuk]

... if you're an MIT student

In order to create a crypto-currency economy at MIT they are going to give each student $100 worth of bitcoin (which is about a fifth / quarter of a coin). There isn't a huge amount you can do with it at the moment, but they're hoping 1 genius at least can do something constructive.

Do you think it will take off or will they just sell it to buy beer at the bar?

 

[Jordan]

I read this up online. Was interesting. $100 is still $100. There are already lots of services that accept it online and I would be glad to get a free $100 Can buy 11 domains with that. or pay for a month of server bills.

I personally believe bit coin to be to unstable IMO though to accept it myself as a payment on any of my websites.

 

[kertha]

For me, I have never really seen enough things online that accept bitcoin as payment to warrant the use of it. I prefer my paypal and job.

 

[Jordan]

For me, I have never really seen enough things online that accept bitcoin as payment to warrant the use of it. I prefer my paypal and job.

I'm not a bitcoin fan, but more and more online ventures have been popping up to accept bitcoin. I still think it is highly unstable for me to accept them personally. With prices going over $1000 per single bit coin down to $100 on a daily occurrence, there is just to much at risk.

I know a lot of tech companies, domain registrars, and hosting companies accept bitcoin. Other than that, the general internet market is still in the dark with them.

 

[Drago]

I still don't even understand bitcoins, or believe that bitcoins equal out to real money. If that was the case, why haven't people gotten rich off them yet?

 

[Jordan]

I still don't even understand bitcoins, or believe that bitcoins equal out to real money. If that was the case, why haven't people gotten rich off them yet?

People have got rich off them xD Bit coins has value for the same reason why a lot of digital items have value. People want them.

 

[!]

I still don't even understand bitcoins, or believe that bitcoins equal out to real money. If that was the case, why haven't people gotten rich off them yet?

Here is a 3 and a half minute video to explain what they are:

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[juliaintheclouds]

Literally every week there are companies popping up that accept bitcoin, there are interact type machines being developed for commercial use. I think bitcoin is definitely going to become more commonplace and everyone will be using it at least to pay for things on the internet if not in person.
There are also payment options available that allow you to accept bitcoin, but convert it immediately to dollars. That way the price volatility won't affect your business.

 

[MisterRay97]

One can easily cash them out to real money using exchanges or directly buy stuff online. Bitcoin is widely accepted at a lot of places. I doubt anyone would use it constructively, but since it's MIT and spending an extra $100 on each student hoping for something good shouldn't be a huge loss for them.