Out of Thousands of MIT Students That Got Free Bitcoin in 2014
One of the many headaches of being a student at MIT is that there is a plethora of different student clubs that you have to join in order to get any use out of the Harvard campus. Many of these clubs provide free meals, free booze, discounted tutoring, and other great perks for students. In 2014, the MIT Bitcoin Club was one of the many clubs that got a whole bunch of free Bitcoin in the form of the MIT Bitcoin Airdrop. Many of the students chose to spend the newly acquired digital wealth on pizza and beer, while others created Bit-Bay, a new cryptocurrency exchange platform that allowed students to mine Bitcoins and send them to friends.
According to recent research, thousands of MIT students have received free bitcoins this year. The research was conducted by oDesk, a freelance job board that connects thousands of freelancers and employers around the globe, who conduct a survey on the number of MIT students who have received free Bitcoin. The survey was conducted from May to October 2014.
At the end of 2014, MIT students walked into the offices of MIT’s Bitcoin Club on campus and received a small amount of Bitcoin in the mail. Each of them would turn around and each of them would receive a small amount of BTC. There were more than 10,000 students enrolled at MIT that year.. Read more about bitcoin price and let us know what you think.
More than six years ago, some scientists at the Massachusetts Institute of Technology (MIT) handed out $100 in bitcoins to 3,100 students. According to several participants who have since owned major crypto assets, students have experienced returns of 13,000%.
MIT graduate who earned 13,000%: Most of us thought it was a joke
MIT has long experimented with and supported bitcoin (BTC), the leading crypto asset in terms of market capitalization. In 2014, two computer science students, Dan Elitzer and Jeremy Rubin, gave away $100 worth of BTC to thousands of MIT students. After leaving MIT, Rubin and Elitzer continued to work in the field of cryptocurrencies. On Friday, several students who have owned BTCs for more than six years said they have seen significant gains. One student, Mary Spangers, told Bloomberg that she still has BTC and keeps it in her stash. According to Spangiers, she could have made about $20,000, or a profit of about 13,000 percent, on 100 BTC before the market crashed in May. At first, Spangiers said, many students thought it was just a joke. It’s really great, Spangers said in the interview. Most of us thought it was a joke. Elitzer, an MBA student who started the Free Bitcoin initiative, also founded the school’s Bitcoin club, but he and Rubin don’t know how many people have stored or sold BTC. But if every MIT student kept their digital assets, the total revenue would be about $60 million. A student working at a cryptocurrency company called Ontology, Eric Pinos, ended up selling his free bitcoins. However, Pinos said today that he is keeping all of his funds in the crypto economy, further emphasizing: I fully support crypto-currencies.
Unknown number of MIT alumni sold
Sam Udotong, a former MIT student who developed an app called Fireflies, eventually sold the digital asset. If I had kept that bitcoin, it would have been worth between $300 and $400 per delivery, Udotong noted. Former MIT student Marilynn Bach eventually kept her cryptocurrency, saying: Sometimes when my friends or colleagues talk about crypto-currencies, I say: Oh, yeah, I get it. Robotics engineer Selam Gano of Pendar Technologies said he sold his BTCs for $300 worth of products when they tripled in value. It was free money, I don’t regret it, Gano said in the interview. I graduated from MIT, that’s the most important thing to me, Gano said. Two years later, an article in the Boston Globe found that only 14% were still actively using bitcoin after the experiment. When the MIT Bitcoin Club was founded and distributed bitcoins, a few years later MIT COOP, a store for the public, students and faculty, stopped accepting BTC for purchases. The Liberty Teller brand bitcoin machine that was in the COOP was also removed from the building a few years later. How about the MIT students who kept their bitcoin and those who sold their property shortly after receiving the free currency? Let us know what you think in the comments below.
Tags in this story
Bitcoin (BTC), Bitcoin Club, BTC, cryptocurrency, Dan Elitzer, free bitcoin, Jeremy Rubin, Massachusetts Institute of Technology, MIT, MIT bitcoin, MIT students, students Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.In 2014, TechCrunch (et al) reported that MIT students were invited to participate in a contest to learn about Bitcoin from a team of MIT students. What they didn’t report was a very important fact: tech geeks from around the world were invited to enter the contest as well, and many of these non-MIT students were also given Bitcoin.. Read more about mit bitcoin experiment and let us know what you think.
bitcoin pricebitcoin price 2014mit bitcoin 2014mit bitcoin experimentmit bitcoin projectwhen did bitcoin come out,People also search for,Privacy settings,How Search works,bitcoin price,bitcoin price 2014,mit bitcoin 2014,mit bitcoin experiment,mit bitcoin project,when did bitcoin come out,what did bitcoin start at,when was bitcoin at its lowest