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Student who held up ´send
Bitcoin´ sign during College
Game Day TV show gets
$24,000 in donations from strangers

Daily Mail [UK], by Staff

Original Article

Posted By:Judy W., 12/3/2013 6:11:17 AM

It was a money-making opportunity that could have gone either way - and could have only have been pulled off by the most tech-savvy of people. A college student has somehow been able to amass over $24,000 by waving a sign at a television camera. The hopeful venture started on Saturday with the ESPN show College GameDay, a football program that is filmed at a different campus each weekend and was in Auburn, Alabama. The student came armed with a banner that had seemed to plea for money from his mother. It also included the logo for Bitcoin, a US payment network, and a

Comments:
I´ve been trying to understand Bitcoin because I think it´s important -- an alternative, non-government-controlled currency -- and this story is a little helpful.

      


Post Reply  

Reply 1 - Posted by: cThree, 12/3/2013 9:05:25 AM     (No. 9638011)

I remember years ago (many years ago, sheesh...) someone ran a classified ad in a newspaper that simply said something like, "Send $1 to this address...."

A lot of money come in, and it seemed fair to me, but a court decided that the advertisement implied that there would be something in return, and the clever fellow was found guilty of something or other and fined.

The same logic would apply here, I should think. But still, it seems fair to me that if someone asks for money and people voluntarily hand it over, it´s no more criminal than panhandling.

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Reply 2 - Posted by: Rama41, 12/3/2013 9:22:40 AM     (No. 9638040)

I was intrigued by the idea of the Bitcoin and recently read a few articles about it on the Internet. Last week, I read another in the Economist. I am now prepared to say, without hesitation, that I haven´t the faintest idea of what it is or how it works.

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Reply 3 - Posted by: joew9, 12/3/2013 9:42:11 AM     (No. 9638077)

Here´s is how I understand Bitcoin.
Ebay sells stuff and the money is frequently exchanged via PayPal. If you sell you have dollar credits in your PayPal account. If you buy you have a debit in your PayPal account. You can transfer credits or debits into and out of PayPal using your local bank checking account or credit card or whatever.

Bitcoin is very similar but instead of dollars, they keep track with "bitcoins". You can convert bitcoins to dollars and vice versus at some exchange rate. PayPal accounting for US citizens is done directly in dollars so there is no exchange rate. A dollar is a dollar. Bitcoin is treated as a different currency so there is an exchange rate that can vary with the market. You can buy things over the internet directly with bitcoins and avoid ever working with dollars. This is a threat to governments that like to control banking by controlling the dollars or pounds or yen, etc.

The student was holding a sign that spoofed and old popular joke sign "Hi Mom and Dad, Send Money"

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Reply 4 - Posted by: ColonialAmerican1623, 12/4/2013 1:01:33 AM     (No. 9639279)

Good for him for donating part of the money.

The last paragraph ruins it all.
If only hackers and thieves could put that much energy into a real job.



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