Bitcoin is a cryptocurrency and a payment system invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto. Bitcoin was introduced on 31 October 2008 to a cryptography mailing list, and released as open-source software in 2009.
The system is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain, which uses bitcoin as its unit of account. Since the system works without a central repository or single administrator, the U.S. Treasury categorizes bitcoin as a decentralized virtual currency.
Bitcoin is often called the first cryptocurrency, although prior systems existed and it is more correctly described as the first decentralized digital currency. Bitcoin is the largest of its kind in terms of total market value.
Bitcoins are created as a reward in a competition in which users offer their computing power to verify and record bitcoin transactions into the blockchain. This activity is referred to as mining and successful miners are rewarded with transaction fees and newly created bitcoins. Besides being obtained by mining, bitcoins can be exchanged for other currencies, products, and services. When sending bitcoins, users can pay an optional transaction fee to the miners. This may expedite the transaction being confirmed.
Short Answer: Yes!
Bitcoin is money for the Internet. It is a scarce digital commodity used as money by millions around the world. People buy coffee with Bitcoin at local shops. Others get paid in Bitcoin and use it to shop online. Friends use it to settle with whoever paid for dinner. Workers send Bitcoin back home to help family, regardless of where they live.
Since its start in 2009, Bitcoin has provided an alternative to traditional government-issued money. No single government, corporation, or nation controls Bitcoin. There is no need for a Bitcoin bank. People store Bitcoin in software called a wallet, which is available for almost any device.
Long Answer: Bitcoin is More than MoneyBitcoin is more than a system to store and transfer value from one person to another. Bitcoin is a protocol, a computer network, and much more.
Obtaining bitcoins works just like obtaining any other currency. You can sell something you already have for them. You can ask your existing employer to pay you in Bitcoin. You can use a Bitcoin based payroll service like Bitwage without your existing employer even needing to know. You can start accepting them as payment at your current business. But the easiest way is simply to buy them on one of our trusted Bitcoin exchanges.
Why would you want to spend bitcoins? How about 20% off everything at Amazon using Purse.io? Or how about 20% off every purchase you make at Starbucks thanks to Foldapp.com? Or you can find a local place near you that already accepts Bitcoin at coinmap.org The possibilities are endless, so get started today!
Find merchants that accept Bitcoin here.
Choosing a wallet is easy, but there are lots of different options. The most important distinction is whether you control your own bitcoins just like a physical cash wallet or you have to trust someone else to hold your bitcoins for you. There are advantages and disadvantages of both approaches, but in general we think it is best for users to hold their bitcoins themselves.
You can have as many different Bitcoin wallets as you want, but it’s easiest to get started with a wallet for your iPhone or Android device so you will have your bitcoins with you wherever you go. Choose your wallet here.
Bitcoin faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website.
Bitcoin & Faucets was built in order to help people get to know Bitcoin better and earn some Satoshis along the way.
However since some people tend to take advantage of such websites the following rules must be followed by all users:
- Your bitcoin address must be a faucetHub.io address;
- You cannot have any type of adblock activated;
- You can only claim once every 5 minutes;
- You are not allowed to claim more than 120 times per 24 hours or you will get banned. You can check how much you’ve claimed through the balance page;
- Bots are not allowed on the faucet;
- You are not allowed to use a VPS or VPN to connect to the site;
- You are not allowed to have more than one account/wallet per IP or any type of scam, we actively check all the claims;
- Opera Turbo users not allowed;
- Captcha solving services or software is not allowed;
- Broadcasting ban is enabled;
- Breaking one or more of these rules will get you banned.
If you feel you’ve been banned be mistake or have any other inquiry regarding the rules of the site please contact us. But keep in mind that if you break one of these rules you will be banned for ever.
Each time you use the site you gain “seniority”. According to how long you’ve been a user you’ll get a bonus on your payouts. So the longer you use the faucet the more you can earn.
If you don’t use the faucet for 30 days the seniority resets. It means you need to claim, referring other addresses doesn’t count as usage.
You seniority can be checked on the balance page.
Our faucet rewards its loyal users by giving them bonuses on their payouts. The longer you are an active user, the higher bonuses you’ll get, just remember to use it.
Up to 29 days of using the faucet – no bonus
From 30 days to 59 days – 3% bonus on all direct payouts
From 60 days to 89 days – 6% bonus on all direct payouts
From 90 days to 119 days – 9% bonus on all direct payouts
From 120 days to 149 days – 12% bonus on all direct payouts
More than 150 days – 15% bonus on all direct payouts
Payouts are done automatically on Sundays to addresses with over 10.000 Satoshis. The exact payout time varies.
When you claim Satoshis they aren’t sent directly to your wallet. Instead they are accumulated on your account and once you reach the minimum threshold (10.000 Satoshis) they will be sent to your wallet. You can check your address balance here.
There could be several reasons for this:
- Make sure your bitcoin address is from faucetHub.io;
- You did not go over the 10.000 Satoshis threshold (Check balance);
- You went over 10.000 Satoshis after we sent finalized payments;
- Your address was banned due to violation of one of the rules;
- You entered an invalid Bitcoin address that we can not send payment to (try pasting your address into blockchain.info and see if you receive an error);
For more information please contact us. Try to provide a good amount of information.
There are several reasons:
- They provide a anti-fraud system (known has anti-bot);
- Referral abuse;
- Multi-address abuse;
- Multi-accounts abuse
- and more…
“One of the problems we have in the faucet industry is bots, or more specifically fraudulent activity which causes faucet owners to lose their money quicker than they should. This is usually done by the same person claiming more from the same faucet using various methods. It’s one of the biggest challenges for faucet owners (and the whole world) to identify individual users with only a bitcoin address and ip address. Without using any personal information there is no way to pin point a fraudulent user before they do it. Even with personal information, this does not stop them from committing the activity.
The beginning of FaucetHub’s Anti-Fraud system
FaucetHub launched on December 1st, 2016. Since then our database collected a lot of IPs, addresses & e-mails from users who use faucets on our network. Most importantly we collected a lot of fraudulent activity as well.
From now on this “anti-bot” feature will be called “anti-fraud”, and this was only the start.
What exactly do we consider to be fraudulent activity?
We consider fraud to be any kind of activity which harms faucet owners. Any activity which a faucet owner would not approve of a user doing on their site:
Self-referring yourself on faucets with multiple addresses to boost your gains. This one is the easiest types of fraud for any user to perform, and equally the hardest to detect by any faucet owner. This is considered to be FRAUD by FaucetHub.
Using multiple addresses which are added to your FaucetHub account, and then claiming on the same faucet to get more than you should and bypass any limits they set on their faucets. With or without using scripts or multiple IPs this is considered to be FRAUD by FaucetHub.
Creating multiple accounts on FaucetHub and claiming from the same faucets 1-2 times on each, then moving on to another account to do the same thing. This is another form of Multi-address abuse and is much harder to detect. It’s considered to be FRAUD by FaucetHub and when detected will result in the same penalties.
These are 3 of the most common types of faucet fraud which end up bleeding faucet owners dry of all their funds, and most of the time they have no idea.
Thanks to the Anti-Fraud “group by user” statistics that I mentioned earlier you can see users who are doing Multi-address abuse and act upon their accounts on your site. But let’s face the facts; you don’t want to worry about botters and fraudsters every day. You don’t want babysit your faucet forever. So we came up with a solution to help protect faucet owners balances.
FaucetHub Transparent Anti-Fraud System
The system is designed to directly combat fraud committed by users on faucet’s using our platform, and recover stolen funds and send them back to the faucet owners. We do not profit in any way from this system, the funds are refunded 100% to where they belong, providing they were not already withdrawn. We chose the name “transparent” because we do all the work on the FaucetHub side regardless of your faucet script or website. To benefit from this system no additional code is needed on your site.
The system has been rolled out slowly and is live since last night. It caught 50-60 users so far, some of which have committed some very large offences.
The “Fraud Report” in more detail
Users who get caught will be “frozen”. This blocks any of their addresses from receiving a payout and they are not able to make any claims using them. When they access FaucetHub they will see a message. At the bottom of that page is the Fraud Report. Here’s an example from 1 user who thinks he did nothing wrong and should be allowed to continue using FaucetHUB:
– Caught doing fraudulent activities 34 times, last checked Just now.
– They have 51 coin addresses linked to their account of which 25 were used to make 352 faucet claims.
– Found doing multiple address claims on 1 faucets using 23 coin addresses.
– Found doing referral address fraud on 4 faucets a total of 15 times.
– Has been linked to 103 other accounts via IP address at least once (IPs won’t be displayed here)
We show all the relevant numbers to users who got frozen.
What FaucetHUB is providing you is an end to your loss of coins which a minority abuses. This minority most of the time is able to claim/”earn” more than 100 normal users would do in a day.”
For more information please contact us. Try to provide a good amount of information.
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All attempts of scam will be permanently banned.
This is in issue with SolveMedia, the captcha provider.
We can nothing do about it, try again or clean your browser cache because usually it works.
Please check your spam folder and allow a couple minutes for the email to arrive. If you still can’t find it feel free to contact us with your email address and we will investigate.
You can click on the “Lost password” link on the login screen in order to reset your password.
After that please check your email inbox.
Bitcoin wallets will sometimes change your address as an anonymity feature. However in order to reserve your balance you have to keep using the same address. You can still use your old wallet’s address and the coins should reach your wallet, so make sure not to change addresses each time you get a new address from your Bitcoin wallet.
You can change your Bitcoin Public Address anytime on your profile page but we recommend you to do that after you receive the Sunday payment to avoid issues.
Your seniority will remain since it’s based on your username registration.
Updated in 20/02/2017.