Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

A bunch of MIT students got $100 of free bitcoin in 2014 – some got rich, some wasted it on sushi
CNBC ^ | 14 Aug 2021 | MacKenzie Sigalos

Posted on 08/14/2021 4:16:37 PM PDT by DUMBGRUNT

In 2014, MIT computer science student Jeremy Rubin offered all undergraduate students on campus $100 worth of bitcoin. Seventy percent of the student body participated in the free bitcoin giveaway. Some ended up wasting their coin at a sushi restaurant that took bitcoin. Others launched side hustles helping classmates set up crypto wallets.

“One of the worst things and one of the best things at MIT is this restaurant called Thelonious Monkfish,” said Phu. “I spent a lot of my crypto buying sushi.” rabucco now runs Alameda Research, which manages over $1 billion in digital assets and trades up to $10 billion per day across thousands of products, including all major coins and altcoins, as well as their derivatives.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Chit/Chat; Education
KEYWORDS: bitcoin; btc; sushi
Navigation: use the links below to view more comments.
first previous 1-2021-37 last
To: Travis McGee

10,000 bitcoins for two pizzas.

A single Bitcoin sells for about $47k today.


21 posted on 08/14/2021 5:07:41 PM PDT by Vermont Lt
[ Post Reply | Private Reply | To 2 | View Replies]

To: Travis McGee

That ship has sailed.

The tax revenue potential far outweighs the bad.

Less than 3/10’s of a percent of Bitcoin transactions are for illegal/ransom issues. If you want to screw up illicit activity, ban the $100 bill.


22 posted on 08/14/2021 5:09:50 PM PDT by Vermont Lt
[ Post Reply | Private Reply | To 13 | View Replies]

To: heavy metal

—a lot of men throughout history have spent money trying to acquire a certain something that smells like sushi...”

And you can buy candles that claim to be reminiscent of a famous actress.


23 posted on 08/14/2021 5:11:54 PM PDT by DUMBGRUNT (("The enemy has overrun us. We are blowing up everything. Vive la France!"Dien Bien Phu last message)
[ Post Reply | Private Reply | To 16 | View Replies]

To: Travis McGee

Probably will come true. AS is, the wealthy use bitcoin to launder money, but the second it becomes a patriot tool it will be banned.


24 posted on 08/14/2021 5:12:39 PM PDT by CodeToad
[ Post Reply | Private Reply | To 13 | View Replies]

To: painter

14k


25 posted on 08/14/2021 5:12:51 PM PDT by DUMBGRUNT (("The enemy has overrun us. We are blowing up everything. Vive la France!"Dien Bien Phu last message)
[ Post Reply | Private Reply | To 18 | View Replies]

To: DUMBGRUNT

i don’t believe the candles would pass the taste test...


26 posted on 08/14/2021 5:18:46 PM PDT by heavy metal (smiling improves your face value as well as making people wonder what the hell you're up to... 😁)
[ Post Reply | Private Reply | To 23 | View Replies]

To: toddausauras

My gut feeling is that we will see gold and silver sales tracked and taxed. The majority of physical gold and silver profits and transfers are not taxed or monitored and one can assume much of the gains goes untaxed.


27 posted on 08/14/2021 5:27:39 PM PDT by MSF BU
[ Post Reply | Private Reply | To 6 | View Replies]

To: heavy metal

Might pass the burning ring of fire test?

https://www.theguardian.com/film/2021/may/19/gwyneth-paltrows-goop-sued-vagina-scented-candle

“Currently out of stock, the candle is described on Goop’s site as having “a funny, gorgeous, sexy, and beautifully unexpected scent … to put us in mind of fantasy, seduction, and a sophisticated warmth”.”


28 posted on 08/14/2021 5:30:28 PM PDT by DUMBGRUNT (("The enemy has overrun us. We are blowing up everything. Vive la France!"Dien Bien Phu last message)
[ Post Reply | Private Reply | To 26 | View Replies]

To: DUMBGRUNT

wonder if she uses the remnants of her certain area waxing procedures to obtain the smell for the candles...


29 posted on 08/14/2021 5:44:48 PM PDT by heavy metal (smiling improves your face value as well as making people wonder what the hell you're up to... 😁)
[ Post Reply | Private Reply | To 28 | View Replies]

To: Travis McGee
Bitcoin will be banned the moment it becomes a nuisance to the Great Reset shot-callers.

With BTC approaching a trillion dollar market cap, I guarantee "they" are already deeply concerned. But they need world totalitarian government before they could coordinate a ban that could possibly be effective. BTC will neutralize them before it can happen.

The ONLY thing BTC has to do to win it all, is to keep gaining value against the failing fiat currencies. The current financial syndicate has no defense to a $200K Bitcoin. If the syndicate can't kill a $50K BTC now, it for damn sure can't kill BTC at four times the price.

BTC is the gray goo of money. Some of you will get that.

30 posted on 08/14/2021 6:37:44 PM PDT by JustaTech (A mind is a terrible thing)
[ Post Reply | Private Reply | To 13 | View Replies]

To: heavy metal

—”wonder if she uses the remnants of her certain area waxing procedures”

As with all things Hollywood; FAKE.


31 posted on 08/14/2021 7:45:34 PM PDT by DUMBGRUNT (("The enemy has overrun us. We are blowing up everything. Vive la France!"Dien Bien Phu last message)
[ Post Reply | Private Reply | To 29 | View Replies]

To: DUMBGRUNT

No such thing as wasting money on sushi, unless you got it from Kroger.


32 posted on 08/15/2021 1:07:13 AM PDT by IgnorerOfLiberals
[ Post Reply | Private Reply | To 1 | View Replies]

To: painter

$100. in BTC in 2014 (depends on what month they bought it...price varied from about $425-$600 per) would be worth about $9,100 today.

https://www.coingecko.com/en/coins/bitcoin


33 posted on 08/15/2021 1:16:02 AM PDT by Drago
[ Post Reply | Private Reply | To 19 | View Replies]

To: Drago

I guess the writer considers $9,100 dollars to be rich /s!!!!!!!


34 posted on 08/15/2021 1:17:43 AM PDT by Trump Girl Kit Cat (Yosemite Sam raising hell)
[ Post Reply | Private Reply | To 33 | View Replies]

To: Trump Girl Kit Cat

Maybe once ‘onboard” they bought more?!? Who knows...0.20 BTC is a good start, but not “rich” territory. ;-)


35 posted on 08/15/2021 1:24:40 AM PDT by Drago
[ Post Reply | Private Reply | To 34 | View Replies]

To: IgnorerOfLiberals

—”No such thing as wasting money on sushi, unless you got it from Kroger.”

I used to enjoy a bit of sushi and more so if others were paying.

Then some big news in the local papers about an emergency landing at O’Hare.
Many of the passengers had been suddenly stricken with PROJECTILE VOMITING!!!
Many on the plane had attended a sushi dinner ...
Not a great number of parasites are successful across host species, as from fish to humans.

But there is one that that can move from tuna to humans.

My intake is now very limited.


36 posted on 08/15/2021 7:16:13 AM PDT by DUMBGRUNT (("The enemy has overrun us. We are blowing up everything. Vive la France!"Dien Bien Phu last message)
[ Post Reply | Private Reply | To 32 | View Replies]

To: Travis McGee

Bitcoin is a digital age tulip.

Governments hate competition- could outlaw Bitcoin. Also, if a company like Amazon offered a digital token, that was exchangeable into a commonly used service, like aws storage,
Bitcoin would go to zero.


37 posted on 08/15/2021 4:49:28 PM PDT by Triple (Socialism denies people the right to the fruits of their labor, and is as abhorrent as slavery)
[ Post Reply | Private Reply | To 13 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-37 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson