Bitcoin Adoption: Universities now Accepting Bitcoin for Tuition Payment?

globalcitizen

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Quote from: Smeet on December 08, 2020, 10:21:15 PM

In my opinion, the biggest factor limiting the educational institutions from accepting crypto in general is the volatility of the market prices. Since the facilities have to use the tuition payments to pass on further for salaries / funding different departments, they have to liquidate the bitcoin that they would get as payment almost instantly to avoid losing any money from the volatility.

Another burden that they would have to face would be trusting an exchange to convert the tuition payment into local currency quickly without paying much fee and trusting that the exchanges have good security measures in place as well.

I'm not saying I don't agree with Universities accepting crypto for tuition, but I believe that they have many downsides to doing so which will prevent many universities all over the world from doing this.

Your point of view is actually as good as mine. In as much as many organizations, businesses, and individuals would want to accept or spend Bitcoin, the hurdle therein is still how to overcome the highly volatile nature of bitcoin and other crypto assets. Except those who are well informed in Fintech, forex, and crypto, it will be very hard to believe crypto.

Smeet

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In my opinion, the biggest factor limiting the educational institutions from accepting crypto in general is the volatility of the market prices. Since the facilities have to use the tuition payments to pass on further for salaries / funding different departments, they have to liquidate the bitcoin that they would get as payment almost instantly to avoid losing any money from the volatility.

Another burden that they would have to face would be trusting an exchange to convert the tuition payment into local currency quickly without paying much fee and trusting that the exchanges have good security measures in place as well.

I'm not saying I don't agree with Universities accepting crypto for tuition, but I believe that they have many downsides to doing so which will prevent many universities all over the world from doing this.

globalcitizen

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Quote from: Gotumoot on December 05, 2020, 05:24:19 AM

At least they don't have to go out and stay in line anymore.
I think they started to accept it due to the virus to help everyone stop the virus to avoid physical contact.
I am happy about the news and I think it is only the beginning of it more school would soon accept it too.

All the schools listed in the OP started accepting Bitcoin long before 2020 and as far back as 2013. That shows that those institutions were interested in being part of the early adopters of the innovative payment system. Obviously, not as a result of pandemic. I just hope many more universities join the movement in no distant time.

globalcitizen

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Quote from: chanler on December 06, 2020, 06:48:59 PM

First, many people in the world accept Bitcoin.
Then, many more companies also accept Bitcoin.
Now, universities accepting Bitcoin are also increasing.
Another niviersity recently accepts BTC is FPT University in Vietnam.
The use of BTC in many sectors proves that actually, this world has been ready for the adoption of cryptocurrency.

Yes, it seems the number of universities that are accepting Bitcoin for tuition and fees payment is increasing. That's so encouraging I must say. Good to know that a university in Vietnam is in the gang of early adopters even since 2017. Thanks for the revelation and permit me to update the list with the new addition.

bryant.coleman

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Quote from: crypticj on December 06, 2020, 12:38:50 AM

I cant find any normal university in this list, adoption in universities is still yet to come

Acceptability is still very limited. A handful of universities are accepting payments in Bitcoin, but that is mostly for ideological purposes. Don't expect global acceptability for Bitcoin at least for the next 5 years. For now, you can make the payments after converting your coins to fiat using any cryptocurrency exchange or peer-to-peer platform.

chanler

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First, many people in the world accept Bitcoin.
Then, many more companies also accept Bitcoin.
Now, universities accepting Bitcoin are also increasing.
Another niviersity recently accepts BTC is FPT University in Vietnam.
The use of BTC in many sectors proves that actually, this world has been ready for the adoption of cryptocurrency.

globalcitizen

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Quote from: ololajulo on December 05, 2020, 06:04:26 AM

My question still remain; Is it sustainable? will this continue in the bear market? A volatile coin cant be used to stuffs like this, this are exploit to acquire bitcoin in the bull. It is a selfish move not for long term benefit of the space, I saw this in 2016/2017 not even in 2018.

Your question is a difficult one to give a straight answer. The high volatility of Bitcoin is basically the reason the sustainability of such move would be questioned owing to the fact that no business would want to lose money to the thin air when they've got other option to adopt and evade any foreseeable loss. That's why most businesses and institutions today are still dragging their feet from adopting Bitcoin as a means of payment. But as the industry grows and the ecosystem begins to witness less volatility I believe that massive adoption will follow. However, to be fair to those of them that are already accepting it, I think they deserve commendation because it's definitely a bold move. And of course, some of them are still accepting it for tuition and fees today.

globalcitizen

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Quote from: shield132 on December 03, 2020, 10:48:08 AM

Quote from: DdmrDdmr on December 03, 2020, 04:00:55 AM

Perhaps there’s not that much of a big deal in the acceptance itself, which may not apply to all courses and grades (at least the University of Cumbria stated that they were running this as an experiment on a set of two courses – see https://99bitcoins.com/university-cumbria-uk-bitcoin/), as to the awareness that it could creates amongst university students, teachers and collaborators.

Nevertheless, I’ve tried to take a look into a couple of them, to see it the payment method is still accepted, global or delimited in scope, and the placement of this information on their information sites, but have come out empty handed …

Just checked and they state following:

Quote

Despite the open support to cryptocurrency, the university is warning future students against buying Bitcoin just to pay for the tuition due to the high volatility risk. The institution believes that students should only pay in cryptocurrency if they already own it.

From University of Cumbria is UK's first to step into the Bitcoin world
https://99bitcoins.com/university-cumbria-uk-bitcoin/

So it seems that they accept bitcoin but at the same time are against it's adoption. It's still good that they accept bitcoin but the proposal that comes after that seems like it's a bad coin and users should only use if they accidentally bought it.

Quote

Personally, I think that while adopting bitcoin or accepting bitcoin payments, universities should add Bitcoin and Blockchain technologies as a subject for those who study finances and informational technologies.

[/u][/color] But university that accepts it but warns students against it, seems very illogical for me and such university will never include a quality syllabus for this subject.

Some Universities are already introducing Bitcoin and Blockchain technologies courses into their Finance and Tech related programs. Here's an example I saw in the curriculum of an Information Systems MS program in one of the top business schools in the US.

CIS 9551 - Blockchain Technologies and Applications
Graduate | 3 Credits | 3 Hours
This course will trace the history of cryptocurrencies and explicate the relationship between cryptocurrencies and blockchain. It will focus on not only explaining the components of blockchain technologies but also surveying the competing platforms available as well as trade-offs among them. It will then examine potential applications of blockchain technologies and various societal, legal, and monetary implications of these technologies. Blockchain has the potential to be a successful technology platform to overcome trust barriers among different parties over the Internet. This is a significant value proposition ? one that this course will seek to unpack ? that has attracted significant flow of capital and talent into the blockchain space.
Prerequisite: None.

Yatsan

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It is just so good to know that there are lots of certain institutions like universities who are already taking part of the massive adaption of Bitcoin usage on which they are taking part of it as they adapt on using Bitcoin as their payment option for paying tuition fees on their university proper. It is just so good to see that they are now recognizing the essence of the existence of Bitcoin and they are now accepting it into their institution so their students as well as parents will be able to know Bitcoin more and adapt on using it since they have introduced it as the new mode of payment. But still it will be good to take it slow and have fiat still on the option for there might be other families who still cannot take part of the adaption taken by the universities so it will still be good to think of the welfare of the students as well.

crypticj

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I cant find any normal university in this list, adoption in universities is still yet to come

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Now that's great to hear by the way. I can see that schools are starting to adopt cryptocurrencies for enrollment, tuition fees, etc. This is a great thing, but I wish that the schools in the Philippines are going to adopt this one day.

AicecreaME

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I guarantee you that those universities OP had mentioned for sure have a good educational system. Understanding how complicated yet have a of benefits Bitcoin have is a very applaudable matter, especially if it is a university. Bitcoin adaptation may be slowly progressing as we are approaching the future of the technology but soon we could have that cashless society which I find cool and convenient. By accepting Bitcoin as a payment for tuition, those universities would indeed going to have a bright future ahead, especially whenever Bitcoin makes an ATH.

Innerpumper

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I hope it will be used as the standard of universities around the world, seeing the development of bitcoin and its technology that is blockchain is quite good in developing the financial industry. It is also likely that bitcoin will be applied in all payment methods and banks as well as taxation in the next 5 years.

Wisbrown

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Bitcoin as be come the hope of future, now that universities are taking it, as a tuition payment. so, there is an assurance of making higher profit when invest.

Quote from: ?? on ??

Quote from: Wawa2013 on December 05, 2020, 03:19:34 PM

This is great news, because it can make Bitcoin useful. Hopefully, the number of universities that accept Bitcoin continues
to increase for tuition payments. This also provides an opportunity for those who earn from Bitcoin, can directly use the Bitcoin
they have without the need to cashout first. It is also very helpful for increasing people's awareness of Bitcoin.

I remember the long lines and time effort in lining to pay. It's indeed a good idea to do transactions. This will create also transparency in their accounts too as crypto is decentralized and they can see whether how much money the school accumulated.

globalcitizen

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Quote from: michellee on December 03, 2020, 02:52:47 AM

The university's movements to accept bitcoin for tuition payment is a great step in the education world. If that can integrate without any problem, the other universities will follow this step. We need more universities to accept bitcoin to be used for education or in schools and universities. We know that the young generation is now aware of the new technology. Maybe sooner or later, we will see that the university has a lesson about crypto to attract more young people to studied more about crypto. The popularity of bitcoin to young people will also increase because they will learn how to use bitcoin before using bitcoin to pay their tuition.

I agree with you totally. We need many more universities to adopt this innovative technology that gave birth to bitcoin and also accept bitcoin itself as a mode of payment for most of their programs and services. It will be the most popular to spread the message of bitcoin to the young generation since many young people are tied to these institutions. I'm happy that progress is being made with these ones that are already in.

Also, I can say that many universities are already offering courses and programs on blockchain, cryptocurrencies, bitcoin, and FinTech and this I believe will increase the popularity of bitcoin and cryptocurrencies in years to come, especially, as many more institutions introduce more of such programs and course. We will get there soon.

erikoy

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They are only doing their business and that accepting bitcoin as an option of payment could be mean nothing and are just part of business. In the end if we ca see the transaction then definitely we can see transaction like btc-btc directly fiat value in which probably most establishment who accept btc will going to accept it to after receiving it another platform will be used to convert btc to fiat. Of course, if you are a business owner and wanted to get clear or net profit then you shoulf a stable currency which is more likely the fiat unless also tge teachers wanted to receive salary as btc but the value should not be pegged to stable currency and that means that the teacher salary will not be fixed and will depend on the btc market value and that would be complicated.

globalcitizen

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Quote from: bitterguy28 on December 03, 2020, 02:58:26 AM

really meaning Some university are almost part of early adopters?as they have accepted Bitcoin since 2013,2014 and 2017?

SOrry but i think i missed that part of crypto history.

It's always been so proud if Thread like this was being created because this boost my trust and longing to Have more bitcoin that i have now.

Yes, those universities were part of early adopters and they are still strongly connected to bitcoin and blockchain development. Particularly, University of Nicosia in particular, popularly acclaimed the first university to adopt still maintains its stronghold on the cryptospace by starting the first MS in Digital Currency program and sponsoring an annual cryptocurrency gathering before pandemic struck. It's a great history and inspiring one for that matter. I'm so proud of where we are going in this ecosystem.

globalcitizen

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Quote from: cryptomaniac_xxx on December 03, 2020, 02:37:05 AM

As the link that you have posted, some universities have been accepting bitcoin as payment way before this bull run in 2020, so yeah it's closer to mainstream adoption as you can get. And there could be more universities that we are not aware that started as well, in 2018-2019. And maybe you can add this one to the list,

https://news.bitcoin.com/french-university-accepts-fees-in-bitcoin-for-blockchain-technology-courses/

Awesome. Thank you @cryptomaniac_xxx for this update. That's exactly what I wanted. I know there are many more institutions that are already accepting bitcoin for tuition and fees that we need to include in the list. I will update the post with this latest addition while I expect the list to keep coming.

TedMosby

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https://bitcointalk.org/index.php?topic=5274318.0

This is a good news for the crypto adoption on a mainstream sector. But I am not sure if using bitcoin is a good choice to pay tuition payment. Because bitcoin become an asset now. That is something that you expect to grow.

“Di you know that I paid 4 million usd for my degree?”
“How come?”
“I used bitcoin back then”

This could be the dialogue for the future. Grin

Lordhermes

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Quote from: ololajulo on December 05, 2020, 06:04:26 AM

My question still remain; Is it sustainable? will this continue in the bear market? A volatile coin cant be used to stuffs like this, this are exploit to acquire bitcoin in the bull. It is a selfish move not for long term benefit of the space, I saw this in 2016/2017 not even in 2018.

There is a possibility that the payment of tuition fee with bitcoin in colleges and universities will bring out problems, there would be an unfair different amount paid by each student depending on the state of the market, this probably will cause confusion and arguments between students and staff,. So the only solution to this is to make use of stable coin for payment of tuition fee. Irrespective of the market status, stable coin like usdt will be good n transacting with that.

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