Charlie Shrem – one of the most pioneering and controversial figures in the Bitcoin community – has just announced a new project called 21million.com, aimed at reviving the 'Bitcoin faucet' model that helped spread this cryptocurrency in its early days.
The information was shared by Shrem on May 4 on the social media platform X. The project simulates the original Bitcoin Faucet website developed by Gavin Andresen – the first core developer of Bitcoin – in 2010. The 'Bitcoin faucet' model allows users to receive a small amount of free BTC after completing a CAPTCHA test – a simple mechanism to distinguish between real users and bots.
At this moment, the 21million.com page only displays a simulated CAPTCHA interface along with a Bitcoin wallet address input box. However, the BTC distribution feature has not yet been activated, and the website states that there is no BTC available. Nevertheless, Shrem asserts that users will not need to meet any conditions to participate. 'I want Bitcoin to succeed, so I created this small service to give you a little starting coin,' he wrote.
Charlie Shrem's bitcoin faucet website. Source: 21million.com
When asked about the development process, Shrem shared that he is programming the project by himself using a 'vibe coding' method – a term implying programming based on inspiration and AI-assisted tools, rather than working in the traditional way with a technical team.
The 'Bitcoin faucet' model played an important role in the early development of the BTC ecosystem. The faucet page created by Gavin Andresen is said to have distributed a total of 19,700 BTC – equivalent to approximately 1.86 billion USD at current exchange rates. At that time, users could receive up to 5 BTC per day just by solving CAPTCHAs, contributing to the motivation for thousands of people to create wallets and experiment with Bitcoin transactions.
Many other platforms like FreeBitco.in emerged during the 2011–2013 period, but the model gradually weakened as Bitcoin prices surged and transaction costs rose, making the rewards from faucets no longer economically viable.
Shrem's return with a nostalgic project also attracts attention due to his tumultuous past in the crypto space. In 2011, Shrem co-founded BitInstant – one of the first Bitcoin exchanges – with Gareth Nelson. At its peak, BitInstant handled up to 30% of global BTC transactions and received investments from names like Roger Ver, Erik Voorhees, and the Winklevoss twins.
Shrem is also a co-founder of the Bitcoin Foundation and has served as Vice Chairman since 2012. However, in 2014, he was arrested and convicted related to facilitating money laundering on the Silk Road platform via BitInstant. Shrem pleaded guilty to reduced charges and served a one-year prison sentence, being released in 2016.
After serving his sentence, Shrem continued to be active in the cryptocurrency field. He founded the consulting firm CryptoIQ, managed the Druid Ventures investment fund worth 13 million USD, and hosted the podcast The Charlie Shrem Show. In 2018, he was involved in a lawsuit with the Winklevoss twins over allegations of misappropriating 5,000 BTC, but the matter was settled privately in 2019.
