a bitcoin faucet is a site that gives users free bitcoins. The original Bitcoin faucet was operated by Gavin Anderson, bitcoin foundation's chief scientist. It started out around late 2010 and it gave users five bitcoins for free. Of course back at that time Bitcoin was worth something like $0.08
the general idea of today's faucets is this:
1. drive massive amount of traffic to the site by promising free Bitcoins
2. place a disturbing amount of ads on their website
3. hand out insignificant amount of bitcoins so they wont have to pay you because they know you wont be able to withdraw the coins. there is usually a minimal amount you need to reach before you can withdraw
4. keep you on the page for a certain amount of time
5. make you keep coming back by promising you more bitcoins
Friday, 27 July 2018
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