🕰️ Flashback: June 2010 — The First Bitcoin Faucet

In an effort to spread awareness and adoption of Bitcoin, Gavin Andresen, one of Bitcoin’s earliest core developers, launched the first-ever Bitcoin faucet on June 11, 2010.

🛠️ What Was It?

A website that gave 5 BTC for free to anyone who:

• Visited the site

• Solved a simple CAPTCHA

That’s it. No KYC. No fees. Just a few clicks.

🎁 The Purpose:

• Bootstrap adoption — back then, BTC wasn’t worth much and had no clear utility.

• Andresen said:

“I wanted to create something that would attract newbies and help them get their first coins easily.”

💸 The Numbers:

• Total BTC Distributed: ~19,700 BTC

• BTC Price at the Time: ~$0.008 per coin

• Total USD Value Then: ~$157

• Total USD Value Now (at ~$65K/BTC): ~$1.28 billion (at ATH: ~$2B+)

👨‍🔧 How It Worked:

• The faucet initially drew BTC from Gavin’s personal stash.

• Later, it was replenished with community donations.

• It served as a turning point in Bitcoin’s early user growth.

🤯 Perspective:

If you claimed just 5 BTC in 2010:

• You got it for free

• Today it’s worth ~$325,000

• At BTC’s all-time high (~$69K), it would’ve been worth $345,000+

🧠 Why It Still Matters:

• This was one of the first user-friendly BTC onboarding tools.

• It showed the spirit of open access and community that helped Bitcoin thrive.

• It’s now a piece of crypto lore — proof of how early believers gave away fortunes just to keep the dream alive.

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