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Cyprus University Accepts Bitcoin For Tuition Fee Payments

Posted by timothy on from the sound-in-ads-needs-to-die-die-die dept.

An anonymous reader writes "The University of Nicosia has begun accepting bitcoins as payment for its courses, as well as launching a Master of Science degree focusing on digital currencies. The announcement is part of a proposal set up by the university to develop the Mediterranean island into a hub for bitcoin trading, processing and banking, as use of the virtual currency continues to gain traction." Warning: Auto-playing ad, with sound.

3 of 157 comments (clear)

  1. Re: Good thing I didn't invest. by Anonymous Coward · · Score: 5, Insightful

    Normally I'd respond with snark about tulips and CROX, but Cyprus is a financial post-apocalyptic wasteland where neither the people nor the institutions trust the kleftes, the bankers and the Russians who now run the smoldering remains of the bank. Plus, Cyprus has been in corralito since the meltdown, which effectively means the Cypriot Euro is worth less than the EU Euro, since the two are not functionally interchangeable across the capital control lines. In Cyprus, Bitcoins actually make sense for all parties to a transaction, because nothing else is safe (Cyprus even lost its gold during the meltdown).

  2. Just Great... Cyprus University? Really? by bobbied · · Score: 4, Interesting

    http://en.wikipedia.org/wiki/University_of_Cyprus

    This is a "close cover before striking" diploma mill in the middle of the Mediterranean Sea. Taking BitCoin is just out of a desire to avoid the costs of getting money into/out of Cyprus which is in serious trouble. Looking at their website though proves that it's all Greek to me...

    --
    "File to fit, pound to insert, paint to match" - Aircraft Maintenance 101
  3. Re:When will people accept it's not a real currenc by MickyTheIdiot · · Score: 4, Insightful

    Neither is a ponzi scheme:

    Wikipedia: "A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation."

    This is what Madoff did exactly. He got new investors, skimmed money, and paid off other investors to make it look like money was being earned.

    Bitcoin (or any national currency) doesn't fit the definition in any way. If you want to argue that Bitcoin is a scam then do it with facts, but arguing that it's a "ponzi" scheme is an attempt to scare with loaded words and it's a fallacy.