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[EN] The Book of Satoshi by Phil Champagne (beta)
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  • The Book of Satoshi : The Collected Writings of Bitcoin Creator Satoshi Nakamoto by Phil Champagne
  • About the Cover Picture
  • Acknowledgements
  • Who This Book is Intended For
  • Foreword
  • 1. Introduction
  • 2. How and Why Bitcoin Works
  • 3. The First Post on Crypto Mailing List
  • 4. Scalability Concerns
  • 5. The 51% Attack
  • 6. About Centrally Controlled Networks Versus Peer-to-Peer Networks
  • 7. Satoshi on the Initial Inflation Rate of 35%
  • 8. About Transactions
  • 9. On the Orphan Blocks
  • 10. About Synchronization of Transactions
  • 11. Satoshi Discusses Transaction Fees
  • 12. On Confirmation and Block Time
  • 13. The Byzantine General's Problem
  • 14. On Block Time, an Automated Test, and the Libertarian Viewpoint
  • 15. More on Double Spend, Proof-of-Work and Transaction Fees
  • 16. On Elliptic Curve Cryptography, Denial of Service Attacks, and Confirmation
  • 17. More in the Transaction Pool, Networking Broadcast, and Coding Details
  • 18. First Release of Bitcoin
  • 19. On the Purpose For Which Bitcoin Could Be Used First
  • 20. "Proof-of-Work" Tokens and Spammers
  • 21. Bitcoin Announced on P2P Foundation
  • 22. On Decentralization as Key to Success
  • 23. On the Subject of Money Supply
  • 24. Release of Bitcoin Vo.1.3
  • 25. On Timestamping Documents
  • 26. Bitcointalk Forum Welcome Message
  • 27. On Bitcoin Maturation
  • 28. How Anonymous Are Bitcoins?
  • 29. A Few Questions Answered By Satoshi
  • 30. On "Natural Deflation"
  • 31. Bitcoin Version 0.2 is Here!
  • 32. Recommendation on Ways to Do a Payment for An Order
  • 33. On the Proof-of-Work Difficulty
  • 34. On the Bitcoin Limit and Profitability of Nodes
  • 35. On the Possibility of Bitcoin Address Collisions
  • 36. QR Code
  • 37. Bitcoin Icon/Logo
  • 38. GPL License Versus MIT License
  • 39. On Money Transfer Regulations
  • 40. On the Possibility of a Cryptographic Weakness
  • 41. On a Variety of Transaction Types
  • 42. First Bitcoin Faucet
  • 43. Bitcoin 0.3 Released!
  • 44. On The Segmentation or "Internet Kill Switch"
  • 45. On Cornering the Market
  • 46. On Scalability and Lightweight Clients
  • 47. On Fast Transaction Problems
  • 48. Wikipedia Article Entry on Bitcoin
  • 49. On the Possibility of Stealing Coins
  • 50. Major Flaw Discovered
  • 51. On Flood Attack Prevention
  • 52. Drainage of Bitcoin Faucet
  • 53. Transaction to IP Address Rather Than Bitcoin Address
  • 54. On Escrow and Multi-Signature Transactions
  • 55. On Bitcoin Mining as a Waste of Resources
  • 56. On an Alternate Type of Block Chain with Just Hash Records
  • 57. On the Higher Cost of Mining
  • 58. On the Development of an Alert System
  • 59. On the Definition of Money and Bitcoin
  • 60. On the Requirement of a Transaction Fee
  • 61. On Sites with CAPTCHA and Paypal Requirements
  • 62. On Short Messages in the Block Chain
  • 63. On Handling a Transaction Spam Flood Attack
  • 64. On Pool Mining Technicalities
  • 65. On WikiLeaks Using Bitcoin
  • 66. On a Distributed Domain Name Server
  • 67. On a PC World Article on Bitcoin and WikiLeaks Kicking the Hornet's Nest
  • 68. Satoshi's Last Forum Post: Release of Bitcoin 0.3-19
  • 69. Emails to Dustin Trammell
  • 70. Last Private Correspondence
  • 71. Bitcoin and Me (Hal Finney)
  • 72. Conclusion
  • Bitcoin: A Peer-to-Peer Electronic Cash System
  • Terms & Definitions
  • Index
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42. First Bitcoin Faucet

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Last updated 12 months ago

42

First Bitcoin Faucet

GAVIN ANDRESEN, currently Lead Core Bitcoin Developer, announced that he has written a “Bitcoin faucet” giving away 5 bitcoins per customer for free. Satoshi replies that he has had the same idea in mind if nobody else came up with it.

Re: Get 5 free bitcoins from freebitcoins. appspot.com

Satoshi Nakamoto June 18, 2010, 11:08:34 PM

Quote from: Gavin Andresen on June 11, 2010,05:38:45PM

For my first Bitcoin coding project, I decided to do something that sounds really dumb: I created a web site that gives away Bitcoins. It is at:

Five B per customer, first come first served, I’ve stocked it with B1,100 to start. I’ll add more once I’m sure it is working properly.

Why? Because I want the Bitcoin project to succeed, and I think it is more likely to be a success if people can get a handful of coins to try it out. It can be frustrating to wait until your node generates some coins (and that will get more frustrating in the future), and buying Bitcoins is still a little bit clunky.

Please try it out and get some free coins, even if you already have more Bitcoins than you know what to do with. You can get some and then donate them right back; the address is: 15VjRaDX9zpbA8LVnbrCAFzrVzN7ixHNsC

Excellent choice of a first project, nice work. I had planned to do this exact thing if someone else didn’t do it, so when it gets too hard for mortals to generate 50BTC, new users could get some coins to play with right away. Donations should be able to keep it filled. The display showing the balance in the dispenser encourages people to top it up.

You should put a donation bitcoin address on the page for those who want to add funds to it, which ideally should update to a new address whenever it receives something.

Later, as the value was going up. Satoshi suggest reducing the bitcoin faucet to 1 BTC (1 bitcoin)

Re: Donations to freebitcoins. appspot.com needed!

Satoshi Nakamoto July 16, 2010, 02:02:07 AM

Quote from: Gavin Andresen on June 12, 2010,07:15:46PM

The Bitcoin Faucet is handling the slashdotting really well... except that I’m running out of coins to give away. over 5,000 have flowed out of the Faucet since I refilled it last night.

Any of you early adopters who generated tens of thousands of coins back in the early days, are you willing to send a few to the Faucet to be given away so more people can try out Bitcoin? I know that most of them are likely to be lost (I suspect there a lot of slashdot lookey-loos who won’t stickaround long enough to spend their 5 bitcoins), but if that’s the case then that’ll just increase the value of your other bitcoins, anyway...

Fountain donation address is: 15VjRaDX9zpbA8LVnbrCAFzrVzN7ixHNsC

Depending on donations and how long the slashdotting lasts, I might have to start giving away bitnickels...

5 BTC seems like a lot these days, maybe the normal amount should be 1 or 2 BTC.

This is an important service so new users can at least get something if generating is too hard.

https://freebitcoins.appspot.com/