Mindblown: a blog about philosophy.
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How faucets work
Any website owner can now create a bitcoin faucet by funding a cryptocurrency wallet with BTC and connecting it to a simple script that runs on their website. Faucets are quite easy to set up; there are even WordPress plugins that automate the process. The wallet is programmed to pay out Satoshis at predetermined intervals,…
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Birth of the bitcoin faucet
In 2010 a Bitcoin developer called Gavin Andresen had the idea of creating something called a bitcoin faucet, to do just that. This was essentially a mechanism for drip-feeding small amounts of BTC to anyone willing to claim it. The faucet took the form of a simple webpage with a captcha to prevent spam or…
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Faucets and the free crypto myth
If you commute into a city or a big town you’re probably used to being offered tasters of new products such as soft-drinks, shampoo or energy bars. It is a low-cost and effective alternative to online or TV marketing for a completely new product – putting it directly in the hands of a large number…
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What you`ll learn
What you`ll learn : What a bitcoin faucet is The history of bitcoin faucets How bitcoin faucets work Risk vs reward of bitcoin faucets
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DYOR
There are many memes that you’ll pick up as you learn about crypto. DYOR – do you own research – is one of the most important. You are doing it now, by reading this article. DYOR is fundamental to crypto because in its naked form, the responsibility is all on you – that is a…
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Setting off with your eyes open
As you’ll remember, cryptocurrency is a new type of internet money, creating trust and security without a central authority. One of the biggest earning opportunities, but with the greatest risk and complexity, is playing a direct part in running the system.. With Bitcoin, for example, there is no head office, it functions through a dispersed…
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Earning by Stacking
Stacking may not sound the most appealing way to earn crypto, but don’t worry it doesn’t evolve filling supermarket shelves, just adopting a similar methodical approach to earning cryptocurrency. Stacking sats is a common mantra within the community and done right it is a good passive way to build a portfolio with moderate risk. We…
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Earning by Learning
The opportunities that focus on earning crypto simply by learning will be your starting point along the path of earning cryptocurrency, as though the returns are modest, you can earn your first Sats for no initial investment, very little risk and just a modest amount of effort. As important as earning your first crypto, you’ll…
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Crypto economy: risk, reward and safety
To get the most out of this section you’ll need a basic understanding of Bitcoin and how it works. Read this chapter first if you need to get up to speed. Economic incentives are central to how cryptocurrencies can function without a central point of control. The novel use of incentives also extends to how…
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What you`ll learn
What you’ll learn Why crypto uses incentives Learning, Staking & Speculating Risk vs Reward The importance of DYOR
Got any book recommendations?