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Bitcoins is a payment system introduced as open-source software in 2009 by developer Satoshi Nakamoto. The payments in the system are recorded in a public ledger using its own unit of account, which is also called Bitcoins. Payments work peer-to-peer without a central repository or single administrator, which has led the US Treasury to call bitcoin a decentralized virtual currency.Although its status as a currency is disputed, media reports often refer to bitcoin as a cryptocurrency or digital currency.

Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for fiat money, products, and services. Users can send and receive bitcoins electronically for an optional transaction fee using wallet software on a personal computer, mobile device, or a web application.

Bitcoin as a form of payment for products and services has seen growth, and merchants have an incentive to accept the digital currency because fees are lower than the 2-3% typically imposed by credit card processors.The European Banking Authority has warned that bitcoin lacks consumer protections.Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and chargebacks are impossible. Commercial use of bitcoin is currently small compared to its use by speculators, which has fueled price volatility.

A Faucet gaves people free bitcoin. You can win bitcoin at a bitcoin faucet by solving things. To get free bitcoins or win free bitcoins you also can referrel with a multiplier of 0,2 to get free Satoshis for just placing a link.

More Information on Bitcoin Wikipedia article Bitcoin (Symbol ฿) is a digital asset and a payment system, created and held electronically, invented by Satoshi Nakamoto who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to-peer, users can transact directly without an intermediary. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using softwares that solves mathematical problems. It’s the first example of a growing category of money known as cryptocurrency.

Bitcoin - with capitalization, is used when describing the concept of Bitcoin, or the entire network itself. For example: "I was learning about the Bitcoin protocol today".

bitcoin - without capitalization, is used to describe bitcoins as a unit of account. For example: "I sent ten bitcoins today". It is also often abbreviated BTC or XBT.

What is Bitcoin Faucet?

Bitcoin faucet is 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 (1/100 divided by 1/1.000.000 = 0.00000001 BTC), for visitors to claim in exchange for completing a captcha or task as described by the website. There are also faucets that dispense alternative cryptocurrencies. Bitcoin faucets were developed by Gavin Andresen in 2010.

Faucets are a great way to help introduce new people to Bitcoin, or to alternative coins (altcoins). A majority of faucets provide information to new users as well as offering them some free coins so that they can ‘try before they buy’, experimenting with a test transaction or two before putting real money on the line. Since this whole experience is so new and a bit complicated to people, who perhaps don’t quite trust it with their hard money, this is a beneficial way to promote digital currency and bring in new users.

(Source: Wikipedia)