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    I hear the term Bitcoin faucet a lot.  What does it mean?

    free bitcoin faucet

    Daily Free Bits - Bitcoin Faucet

     Daily Free Bits occurse interval: every 1 hour!
     Win 100 - 1200 Satoshi every time you claim free reward
     Wallet: https://faucetbox.com/en/check/
     Payment as soon as you reach cashout threshold of just 3500 satoshi

    Daily Free Bits™ is a Bitcoin faucet. A Bitcoin faucet is a website that offer its users small amounts of Bitcoins for doing nothing. Normally you have to enter your Bitcoin address and a captcha(to prevent bots) and get paid. Faucets are usually sponsored by advertisements but these ads only work to keep the faucet alive and cover the costs. Usually early birds in Bitcoin phenomenon use faucets to get started i.e to get some small amounts of Bitcoins.

     

    How many bitcoins will there eventually be?  

    Since bitcoins are being regularly rewarded to miners, will the number of bitcoins continue to grow indefinitely, or will there be a maximum total number of bitcoins in existence? And if there is some kind of limit, what is it and how is it enforced?

    A pre-defined schedule limits the total number of bitcoins so that they gradually approach a total of 21 million (ignoring those that have been lost through deleted or misplaced wallet files). The limit of 21 million bitcoins is "hard-wired" in to the protocol, and there will never be more bitcoins than this

    Every block introduces 50 new coins in the system. This quantity (50) halves every 210,000 blocks. So, getting the limit of coins it is possible to generate is quite easy : it's the sum of a geometric series.

    latex formula

    Also, note that this is an upper bound ; the actual quantity will probably be a bit lower due to rounding issues (BTC has a finite number of decimals, 8).

    Best Bitcoin Faucet - Daily Free Bit

     

     

    Payments are processed via Faucetbox.You can check your withdrawals here https://faucetbox.com/en/check .Tweet us @Dailyfreebits for feedback. Average faucet payout is set at 400 satoshi per claim. Transfer to new host is completed.

     

     

     

     

     


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