Bitcoin Faucet Relaunch Teased by Early Developer Charlie Shrem
Charlie Shrem announced the relaunch of the Bitcoin Faucet, a concept from Bitcoin's early days. This faucet previously distributed 5 BTC per user to solve a CAPTCHA when Bitcoin was valued under a cent.
Key points:
- The original faucet was created by Gavin Andresen in 2010.
- Andresen funded it with 1,100 BTC.
- The current value of 5 BTC is nearly $500,000.
- The site is not live yet and holds no BTC as of Monday morning.
- It aimed to onboard new users when acquiring or mining BTC was complex.
- The faucet contributed significantly to network growth, providing early exposure to thousands.
The cultural legacy of the faucet remains impactful, especially as BTC prices increased over the following decade.