Wednesday, 22 January 2014


"The University of Cumbria in northwest England has become the first public university in the world to experiment with accepting bitcoin as tuition payment. It follows a similar move made by a private university in Cyprus at the end of last year.

The university announced its intention to accept the online currency as payment on Tuesday.

“We are accepting bitcoin as a way of experimenting [with] how it works for a major organization with many departments,” said Professor Jem Bendell, director of the university’s Institute for Leadership and Sustainability (IFLAS).

Initially, the bitcoin payments will only be accepted for two courses at the university. As with Cyprus, the payments will complement the course subject matter. The two courses to begin accepting the payments will be the “Certificate of Achievement in Sustainable Exchange” and the “Postgraduate Certificate in Sustainable Leadership.” Both are already validated and accepting students. The Bitpay system for the payments is already up and running.

“We believe in learning by doing, and so to help inform our courses on complementary currencies, we are trialling the acceptance of them,” said Bendell.

However, the university released a statement: “[Students] should only use this facility if they already have bitcoin, or can receive Bitcoin donations in order to pay their fees,” it said, warning its students off purchasing Bitcoin specifically for the purpose of paying tuition fees." Continues.

But who holds the MOST bitcoin; here's number one and two accounting to Russia Today:
"When the FBI shut down the Silk Road, an internet black market, in October it also seized the accused owner’s assets and inadvertently became one of the wealthiest bitcoin operators in the world.

When the FBI shut down the notorious online marketplace it made international headlines and began a worldwide discussion about how stable the future of bitcoin really is. Investigators have admitted that they seized hundreds of thousands of bitcoins from the Silk Road and its operator Dread Pirate Roberts, allegedly the online persona of one Ross Ulbricht.

A new report from Wired magazine indicates that the FBI is now in control of two addresses, or wallets, holding bitcoin worth as much as $120 million. That total would make the law enforcement agency the second-largest bitcoin holder in the world behind only Satoshi Nakamoto, the currency’s inventor, who is thought to have mined one million bitcoin in the technology’s earliest days.

There is a total of 12 million bitcoins in circulation and the FBI’s haul from the Silk Road raid means the bureau has more than even Cameron and Tyler Winklevoss. The Winklevoss twins, who became famous when they sued Mark Zuckerberg for allegedly stealing their idea for Facebook, said in July of this year that they had taken control of roughly one percent of all bitcoins.

As of October, the FBI owned 1.5 percent of all the world’s bitcoin, Forbes reported. Less than a quarter-million people own a single bitcoin, although the number of accounts holding one bitcoin has grown from 159,916 to 246,377."  Continues.
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