Reflections on Bitcoin – 5
Bitcoin continues to be volatile, having its ups and downs, just like a baby during infancy. Will BTC learn to walk, run, sprint? I think so. I always hedge my statements about BTC by saying it could go the way of Napster. It could, but I do not think it will. Mainstream bankers and others see it as a fad that will (they hope) go away. I do not think it will. Neither do two students at MIT (see MIT Students Plan to Give Every Campus Undergraduate $100 in Bitcoin). Jeremy Rubin and Dan Elitzer have raised more than a half million dollars that will be distributed as 100 dollars of BTC to each of the 4,528 undergraduate MIT students to spend in any way they want. The goal, however, is to inspire innovative ways to offer goods and services that students can buy with BTC. MIT students are among the brightest technical minds, and with all of their classmates about to have access to BTC, it seems likely that more than a few students will build interesting ways that fellow students can spend it. Meanwhile, innovators around the world are enabling BTC holders to book flights, buy apartments, and eat and drink their way through most of the world’s major cities.