Reddit recalls the former “Bitcoin tap website”: 19,700 BTC given away for free

Reddit reminds of the former “Bitcoin tap website”: 19,700 BTC given away for free

What sounds too good to be true today was real in 2010: Back then, software developer Gavin Andresen gave away free BTC to encourage acceptance.

Reddit reminds of the former "Bitcoin tap website": 19,700 BTC given away for free

The Reddit community r / Cryptocurrency got an interesting piece of Bitcoin on Sunday (BTC) History rediscovered. A new thread reminds the time when the American software developer Gavin Andresen gave away 19,700 BTC.

In a thread created by “uGroundbreakingLack78” started the Reddit community is talking about June 2010, when Andresen first launched the so-called Bitcoin tap website. At the address “freebitcoins.appspot.com” Andresen offered visitors to earn 5 BTC per day by simply solving a captcha. A captcha is a program that is supposed to differentiate between humans and bots.

The user “uGroundbreakingLack78” explains:

“Andresen filled the first tap with 1,100 BTC. After these had been given away, the tap was refilled. Early Bitcoin miners and whales also donated coins.”

The creator of the website quit his “really stupid” idea of ​​giving away BTC for free in the now infamous Bitcointalk forum in a post on June 11, 2010. His motivation: “[…] “I want the Bitcoin project to succeed, and I think it will be more likely to succeed if people can get a handful of coins to try that out.”

Andresen played an important role in Bitcoin development during its creation. He was the lead software developer for the BTC reference implementation. He joined the core development team in 2012 after Satoshi Nakamoto, the Bitcoin founder, announced he was leaving the project.

Although the Bitcoin tap website is no longer active, a screenshot of the homepage shows a very simple website where users can earn BTC and set up their digital wallet. The Bitcoin tap is said to have given away 19,700 BTC to users because they solved a captcha. These BTC are worth nearly $ 1.2 billion at today’s rates.

The Bitcoin Tap website in 2010. Image on Reddit

With Bitcoin on the verge of yet another bull market, many investors would be only too happy to have 5 BTC. But that is easier said than done with the current courses. Given the BTC scarcity on the major exchanges, the most popular digital currencies could soar higher in the short term. On-chain data shows that it is up to the strong Bitcoin surge could take months. That means investors remain overwhelmingly optimistic.

The Bitcoin price reached an all-time high of just under $ 62,000 in mid-March. Then the rally stalled and the altcoins followed suit. Bitcoin’s market capitalization is currently over 1 trillion. U.S. dollar. Large institutions and companies have invested in the digital asset, among other things as a hedge against inflation.

  • #Bitcoin
  • # Cryptocurrencies
  • #Reddit
  • # Bitcoin rate
  • #Gavin Andresen

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