$100 in Bitcoin Going to Every MIT Undergrad

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April 30 (Bloomberg) -- MIT Undergraduate Jeremy Rubin and MIT Bitcoin Club Founder Dan Elitzer discuss plans to give MIT undergraduates $100 in bitcoin. They speak on Bloomberg Television’s “Bloomberg Surveillance.” (Source: Bloomberg)

This fall.

At the giant social experiment spearheaded by two i'm i.t. -- to m.i.t. students.

Thanks for joining us.

What is your best case scenario here?

Thanks for having us.

Best case narrow, we want to see building on some things and the role of the coin in the world.

M.i.t. is a constant bit of innovation.

We are excited to see what will come out of this.

What are you going to do with your bitcoin?

I'm not getting bitcoin for the six pyramid.

We are only targeting undergrads at this point.

Is the goal to make people aware or to see what they do with that?

To convert the faithful?

Bitcoin isn't really too much of a hot topic at m.i.t.. it's a bit of a shame.

M.i.t. should be focusing on this.

It should be the center of the bitcoin world.

If that is what we are hoping to a couple share.

Are these guys girl magnets?

Because they are in the bitcoin club?

How is that working out, guys?

My fiancee -- all over the bitcoin.

No complaints.

What kind of demand is there from the student body at m.i.t. for bitcoin?

Is it a topic of conversation that you're trying to get started or were there percolation's already?

There was already some conversation going on on campus but we got the m.i.t. bitcoin club kicked off in january.

We really want to make it more of a focus and get people more educated.

There is a mix of a few people who really understand bitcoin and a lot people who are just approaching it for the first time and are very curious.

They start at the point of, what is bitcoin?

We want to educate people.

Education is one thing.

But practicality is not appear china has made it illegal to transact bitcoin, as has russia.

Beyond education, how do you get people to trust this thing in the way that sovereign countries have not?

As a leading engineering institution, m.i.t. is the king of practicality.

That is part of the spearman.

Seeing what real-world applications we can build that people will end up trusting.

Such as?

There is a number of things we can do that would be very important.

For example, you could build a decentralized kick starter for crowd funding.

You could build a micro-payment solution which would be approved for news media in terms of online newspapers.

Having a solution for their content.

I'm curious, have any professors at m.i.t. torn you to shreds on this?

Do they look at the theory of bitcoin and forget about the efficiency and say the bitcoin club has got it wrong?

I would say that most professors are pretty excited about this project and seeing where it goes.

There are plenty professors who have questions about it.

Most of the questions tend to come from the economic side.

People understand the code and technical aspect of bitcoin and a pretty enthusiastic about it.

Jeremy and dan at m.i.t. fascinating conversation.

Good luck with that.

Thank you so much.

They are so cute.

Those guys are scary.

They go futures show little change

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