ARE BITCOIN FAUCETS BENEFICIAL TO ADOPTION & AWARENESS?
When people ask me about Bitcoin, one of the first questions to come up is how and if they can get their hands on free Bitcoins in some way. My answer is usually no, but there are ways to start earning them such as signature campaigns on BitcoinTalk, which do not involve too much effort from the user. Furthermore, that way you learn more about Bitcoin, the protocol and everything else you need.
However, there still are a ton of Bitcoin faucets in existence, and more and more are being added on a weekly basis it seems. So why would you need recommend those to your friends? For the same reason I don’t believe in coin giveaways : people who want to get involved in Bitcoin need to put in some effort before we hand them digital currency.
GIVING OUT ‘FREE’ MONEY
While you can have a debate about my stance until we are 100 years old, there is no right or wrong approach to Bitcoin faucets. Bitcoin faucets do have their use and value, as they allow users to slowly gather some free coins by entering their Bitcoin address. Some sites even require you to click some links, or enter an email address. Micro tasks for micro rewards, the way it should be done.
This post was published at Crypto Articles on January 11, 2015.