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Former Twitter CEO and long-time Bitcoin promoter Jack Dorsey is teasing the return of the Bitcoin faucet, a widely remembered early feature of the cryptocurrency’s history, via his X account. Details on the new initiative from Block remain limited until its launch.
In June 2010, Bitcoin was still largely an experimental project known to a small group of cryptographers and early cypherpunks. Gavin Andresen, one of Bitcoin’s earliest and most prominent core developers, helped enable public access through the original Bitcoin Faucet.
The faucet functioned as a free distribution site: visitors could obtain BTC to test the software. To receive coins, users had to complete a basic CAPTCHA to prove they were human.
Under the original setup, users could claim 5 full Bitcoins per CAPTCHA. At the time, 5 BTC was described as practically worthless. Andresen funded the faucet himself, loading it with 1,100 Bitcoins mined by him.
By today’s standards, the value of those early claims would be far higher—described as worth hundreds of thousands of dollars for the 5 BTC granted per claim.
The original faucet operated for a couple of years and distributed tens of thousands of BTC. It was later drained and shut down as Bitcoin’s price began to rise.
While it is not stated that the revived faucet will replicate the original terms, the return of the concept is framed as a nod to Bitcoin’s grassroots origins. The article notes it is “incredibly safe to assume” the new version will not give out 5 whole Bitcoins to every visitor.
In brief\n\nBitcoin dropped to about $93,000, falling back below the EMA50 and putting its recent golden cross at risk of invalidation. The global crypto market cap stands at $3.15 trillion, down 2.38% in 24 hours. On Myriad Markets, 82% of the money is betting on Bitcoin pumping to $100K before…
