Will the MIT experiment bring a spike in price?

zimmah

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Quote from: franky1 on May 02, 2014, 05:05:06 PM

students themselves wont be putting their own fiat into bitcoin. the reason: because they're students and cant afford it.

what will happen is you will see alot more apps on itunes and google play that are bitcoin enabled. you will see lots of shopping cart extensions, payroll software and other financial gadgets,widgets and apps. all bitcoin enabled for everyone to use.

well thats the short-medium term things to see.. as for the long term you will see the students graduate and start their own businesses, thus bringing a new-wave of bitcoin related businesses.

.............. or, they will just cash out bitcoin for fiat and buy pizza and beer

I am pretty sure that if the MIT hands out $450 000 in bitcoin to their students, the students will be required to write an essay about bitcoin or something, selling off bitcoin immediately would probably not be a smart idea because they might not learn from it.

Mythul

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More brainpower to the network Grin

MercyC

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Very cool! Doubt it'll put much of a dent in price but perhaps will encourage other universities to replicate this and start incorporating virtual currencies in their curriculums...and cafeterias?

knightcoin

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Stand on the shoulders of giants

mit students shoud be like ..

.
https://www.youtube.com/watch?v=GUEZCxBcM78

TERA

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all of the adoption related news is nothing in comparison to the sheer weight of china and all the huge blocks of coins in the market. it causes tiny green candles amidst a sea of large red candles. this adoption will raise the price eventually but not right now.

galbros

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While I think this is a great idea I expect the students will quickly sell their btc. If they sell it by opening coinbase accounts or something like that it may at least help the community. However, more likely they will sell to friends or friends of friends. Still I think it gets bitcoin into a community that is in position to have some positive influence going forward.

UglyTroll

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Only virus spread like this Grin

knightcoin

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Stand on the shoulders of giants

well thanks ... in mind was just like ...

mobile4ever

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Quote from: knightcoin on May 04, 2014, 02:06:29 AM

As academic research .. would be nice if each student keep tracking in a database and report what they did with the coins .. could be a nice statistical data sample... just a opinion Wink

That is a great idea. Surely they are going to do it, since this is termed "an experiment".

mobile4ever

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Quote from: Bit_Happy on May 03, 2014, 11:59:34 PM

The project is also getting local businesses to accept BTC.
Who cares about a (temporary) "spike in price", this exciting experiment is part of the massive long-term uptrend.

Traders care about those temporary spikes. That is how they make money. The spikes and ebbs of the BTC price can be taken care of. This year has been nothing but "ebb" so far.

ElectricMucus

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Marketing manager - GO MP

The only thing that will happen, there will be more stoned nerds shortly after that.

Stoned nerds are good for Bitcoin!

knightcoin

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Stand on the shoulders of giants

spike?? where? in witch MONITOR Huh

The Outer Limits - 1963 Seasons - Intro
https://www.youtube.com/watch?v=FCcdr4O-3gE

;

UglyTroll

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This is great, student load money will get doubled in Bitcoin market in weeks Grin

DustyRah

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Does it look like it is? The only thing that will make the value of BTC go up is when you go out there and spend your BTC and buy more of it.

pening

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Have to say if MIT students aren't already commonly using Bitcoin, it doesn't a great deal positive for Bitcoin. What does anyone expect them to create that they couldn't already do so using a few 0.01 bitcoins themselves (or mine, or an altcoin)? Only experiment i see from this is how quickly they will sell them or use them to otherwise buy something, expect Overstock to report a spike in Bitcoin sales.

upal

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Quote from: mobile4ever on May 02, 2014, 04:36:27 PM

MIT is giving 4500 undergrads $100 in BTC this Fall. What will happen to the price?

https://bitcointalksearch.org/topic/2014-04-30-rt-bitcoin-field-day-mit-freshmen-to-get-free-cryptocurrency-590587

Not sure... but when some MIT students will dropout to build their dream around bitcoin, price will definitely surge.

knightcoin

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Stand on the shoulders of giants

As academic research .. would be nice if each student keep tracking in a database and report what they did with the coins .. could be a nice statistical data sample... just a opinion Wink

Bit_Happy

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A Great Time to Start Something!

The project is also getting local businesses to accept BTC.
Who cares about a (temporary) "spike in price", this exciting experiment is part of the massive long-term uptrend.

mobile4ever

hero member

Activity: 546

Merit: 500

Quote from: Yakamoto on May 03, 2014, 08:40:52 AM

I don't know what will happen, but over the long run it may convince other Universities to do the same, and thus the price will eventually rise as the demand by "higher-ups" increases for experiments such as these. I honestly is anyone's guess, but I think that it may only increase in the long run.

I agree it will rise. I did not want to be making predictions at the start of the thread. Plus, the reward halving again in 2016 will surely make it rise even more.

Yakamoto

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I don't know what will happen, but over the long run it may convince other Universities to do the same, and thus the price will eventually rise as the demand by "higher-ups" increases for experiments such as these. I honestly is anyone's guess, but I think that it may only increase in the long run.

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