Category Archives: Bitcoin faucet

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McAfee Builds App for Bitcoin Exposure Using Trivia Quiz Game

McAfee Builds App for Bitcoin Exposure Using Trivia Quiz Game

Tech mogul and major crypto proponent John McAfee is at it again, however, this time, he’s not handing out free predictions on future Bitcoin prices, but free Bitcoin through his new app called Bitcoin Play.

Well, maybe not free Bitcoin, as users will have to answer trivia questions to be rewarded – think who wants to be a millionaire, only this time the rewards are in Bitcoin fractions, Satoshis.

McAfee told his numerous Twitter followers about his new app which engages the intellect of players through trivia questions and reward gaming:

My “Bitcoin Play” app is now available for Android. Family friendly option as well as the adult friendly option featuring my voice cursing at your ineptitude. Earn Satoshis while being harangued by me. Educational as well:https://t.co/gzWbAS87ho

— John McAfee (@officialmcafee) May 4, 2019

The game features a test of knowledge through a multiple-choice quiz, with thousands of questions made available on the platform, but limited to only 25 questions per user per day. The more wins the player gets the harder the questions the more the rewards. The app also allows users to compete against each other in John McAfee’s Weekly Competition League in order to win extra rewards and prizes. The developers also included an 18+ commentary feature which allows users to hear McAfee’s voice in response to their performance.

In the Tweet, McAfee seemed to be having fun and was as sarcastic as always as he responds to several comments. About a hidden mining bot, he responded: “Nope. My next app maybe”; to another comment about he being the sole developer of the app or being aided, he responded: “I prayed, and God simply manifested it.”

The app is currently only available for Android users and McAfee has said that the iOS version will be out soon. So far, the app has a ranking of 4.1  from 33 reviews and has been downloaded by more than 500 users according to Google Play Store. Overall, it appears the app had quite the reception and had achieved the primary purpose of engaging the masses into a stimulating atmosphere of trivia gaming while using Bitcoin payouts as an incentive model.

Perhaps a remake of the first generation faucets, McAfee may have given trivia game addicts a second chance at earning cryptocurrencies in meager amounts, and who knows, if his price prediction of USD 1 million per Bitcoin kicks in, he’d be making millionaires out of trivia addicts.

Speaking of faucets, Bitcoin News recently reported a Lamborghini giveaway as a price by one of the oldest yet surviving Bitcoin faucets in its ongoing contest.

On the more positive note, efforts towards mass Bitcoin exposure continues to grow, and while the price of Bitcoin has soared astronomically over the years, becoming a barrier for new entrants into the ecosystem as well as smaller retailers, efforts like those of McAfee’s app, might someday level the plane, the question however, is how many Bitcoins has McAfee staked in the game for long term sustainability, as very few Bitcoin faucets are in existence, with most dying out over the years or implementing heavy advertising to stay alive.

 

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World’s (Likely) Oldest Bitcoin Faucet is Giving Away a Lambo

World's (Likely) Oldest Bitcoin Faucet Giving Away a Lambo (1)

One of the oldest surviving Bitcoin faucets in the world, possibly even the oldest, has just announced a giveaway featuring the car most associated with the crypto world: the Lamborghini Huracán.

Speaking exclusively to Bitcoin News, Freebitco.in owner “wetsuit” has confirmed that the site is ready to present the iconic luxury car to a single winner by the time the contest ends in six months time on  31 October 2019. The winner will be determined by a provably fair (via cryptographic hash results) lottery drawing and can also request for USD 200,000 in Bitcoin, in lieu of the physical prize.

The most anticipated contest is finally here.
The #GoldenTicket #Lamborghini giveaway is LIVE!
1. Play the Game
2. Collect Golden Tickets
3. Win a Lamborghini #FreeBitcoin #BTC #DiceGame #Lambo #Giveaway 💸🎰🎲pic.twitter.com/EEGpQNoHMm

— FreeBitco.in (@freebitco) May 2, 2019

From humble faucet to Lambo giveaway

Freebitco.in started in October 2013 as a faucet and claims over 19 million registered users, making it one of the oldest and largest Bitcoin-related sites online.

Faucets are scripts that give out free crypto for typically simple tasks such as solving captchas. The rewards are typically worth less than a cent, usually in the smallest denominations such as satoshi for Bitcoin. Faucets were synonymous with Bitcoin and crypto, especially in the early years when Bitcoin use was not as widespread.

Early Bitcoin developer Gavin Andresen is credited as the creator of the world’s first Bitcoin faucet in 2010. Visitors would get up to 5 Bitcoins per dispense. Thanks to Bitcoin’s phenomenal rise in value since then, in comparison, Freebitco.in gives out between 35 satoshi to 0.035 BTC every hour (at time of writing).

Now over five years in existence, Freebitco.in said that they began life when two ideas had predominantly occupied the crypto space: Bitcoin faucets and Bitcoin dice:

“While the site was originally a Bitcoin faucet, seeing the growing need for Bitcoin gambling in the crypto-community, we built a Bitcoin dice platform around the faucet, that we’re proud to say is one of the biggest Bitcoin gaming websites on the internet today.”

And today, its primary goal remains the same: get a wider base of users into the crypto-community and, at the same time, ensuring existing users enjoys this innovation to the fullest. Commenting on the current giveaway, Freebitco.in says:

“Owning a Lamborghini is a crypto-enthusiast’s dream, and we could not think of a better prize to reward our users for supporting the novel technology of crypto currency through its ups and downs.”

Is there still a future for faucets?

Today, very few Bitcoin faucets are in existence, with most dying out over the years or implementing heavy advertising to maintain operations. Freebitco.in is one of the very few which has avoided this route:

“We started the website with the intention of monetizing it with advertisements; However, I personally have never liked getting blasted with ads every single time I visit a page. So, one day we decided to take a big risk and said, “No more ads!”… we have always prioritized user experience above everything else. Talking about lasting long, we aren’t just a Bitcoin faucet anymore – we are so much more than that, and that has helped us build this amazing community of crypto-gaming enthusiasts.”

Despite the bleak outlook for faucets, Freebitco.in still believes that “As long as there is a future for bitcoin, there is a future for faucets”. Faucets, they believe, have always been an entry point for newcomers, and there will always be new entrants to the industry looking to learn about cryptocurrency and looking to own their first units of crypto. They insist, “Nothing else does this as effectively and easily as a Bitcoin faucet.”

Five years may not be that long a time, but in the volatile and constantly evolving world of Bitcoin, where longevity is rare, Freebitco.in is perhaps one of the few that both old hands and newcomers will recognize. Prodded for a comment on price speculation, the owner said simply:

“Bitcoin has been through five cycles of boom and bust. Each time it not only recovered but reached new highs many times higher than before. I expect that pattern to repeat many times, but I am not making any predictions as to when.”

 

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The First Bitcoin Faucet Gave Out 5 Bitcoins Per Day

Currently, Bitcoin faucets give out a few satoshis per click, where a satoshi is 0.00000001 bitcoin. For example, one of the most popular Bitcoin faucets, 99 Bitcoins, has closed down after dispensing 12.795 bitcoins since November 2015. This pales in comparison to the first Bitcoin faucet launched by Gavin Andresen, one of the earliest Bitcoin developers, in June 2010. At that time Bitcoin essentially had no value or exchange rate, so the faucet gave out 5 bitcoins per day. As of 21 October 2018, 5 bitcoins are worth USD 32,000.

Gavin Andresen loaded up the faucet with 1,100 bitcoins, worth over USD 7 million as at the time of this writing, and asked for further donations to keep the faucet running. In total 19,175 Bitcoins went through the faucet, worth USD 124.5 million currently. Shockingly, despite the payout of 5 bitcoins per day for just a single click, a user complained: “What! Only 5 bitcoins?

The faucet appears to have run dry by the middle of 2011 based on Bitcointalk posts, likely due to Bitcoin’s increase in price, making people unwilling to donate to the faucet. Before the faucet was completely turned off, its payout was progressively reduced to 0.02 bitcoin, which is worth USD 130 as of this writing.

After this first Bitcoin faucet, other Bitcoin faucets depended on advertising revenue to fuel the faucet. This worked well for 99 Bitcoins until Google AdSense pulled crypto ads for all crypto faucets, after which 99 Bitcoins depended on advertisers that paid less money and spammed the site with poor quality ads. In September 2018, 99 Bitcoins shutdown, although numerous other Bitcoin faucets still exist.

However, no Bitcoin faucet has ever compared to the first Bitcoin faucet launched by Gavin Andreson. If someone used the faucet every day while it was active, they would easily be able to retire for the rest of their life and live comfortably. That’s of course if the faucet users HODLED their Bitcoin, which is probably unlikely since the times Bitcoin rallied to USD 100, USD 1,000, and USD 20,000 would have been extremely tempting times to cash out.

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