29 Nov '14, 2pm

Free bitcoin for students: how will they spend it?

Free bitcoin for students: how will they spend it?

Students are receiving $100 of free bitcoin to try and spur acceptance of the cryptocurrency. Will it succeed? WHAT happens when you hand college students free cash? That's the question behind an experiment playing out in Cambridge, Massachusetts. Starting this month, $100 worth of bitcoins are being given to students at the Massachusetts Institute of Technology. Bitcoin has been heralded as the future of money , an anonymous way to purchase anything from a coffee to illegal drugs. But it has struggled to make the transition to common currency. By injecting bitcoins into a real-world community, the MIT Bitcoin Project hopes to spur acceptance of the cryptocurrency among people who might not otherwise try it. "We're cultivating an ecosystem," says Dan Elitzer at MIT Sloan School of Management, who runs the project along with Jeremy Rubin and Richard Ni. "We've got that dens...

Full article: http://www.newscientist.com/article/mg22429972.400-free-b...

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