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Bitcoin is a payment system introduced as open-source software in 2009 by developer Satoshi Nakamoto.

The payments in the system are recorded in a public ledger using its own unit of account, which is also called bitcoin. Payments work peer-to-peer without a central repository or single administrator, which has led the US Treasury to call bitcoin a decentralized virtual currency. Although its status as a currency is disputed, media reports often refer to bitcoin as a cryptocurrency or digital currency.

Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for fiat money, products, and services. Users can send and receive bitcoins electronically for an optional transaction fee using wallet software on a personal computer, mobile device, or a web application.

Bitcoin as a form of payment for products and services has seen growth,and merchants have an incentive to accept the digital currency because fees are lower than the 2-3% typically imposed by credit card processors. The European Banking Authority has warned that bitcoin lacks consumer protections. Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and charge backs are impossible. Commercial use of bitcoin is currently small compared to its use by speculators, which has fueled price volatility.

Bitcoin has been a subject of scrutiny amid concerns that it can be used for illegal activities. In October 2013 the US FBI shut down the Silk Road online black market and seized 144,000 bitcoins worth US$28.5 million at the time. The US is considered bitcoin-friendly compared to other governments. In China, buying bitcoins with yuan is subject to restrictions, and bitcoin exchanges are not allowed to hold bank accounts.

If you want to know more then check out the full Bitcoin Wikipedia article

During the last years the Internet attracts users by more and more various ways to earn within the network. To count them, one probably must write a dozen of volumes. Among them, there is one method that doesn’t require a call for money, a lot of efforts and bright intellectual abilities. I mean Bitcoin faucets, where free coins are distributed.

How one can earn Bitcoin? Let’s look into main options:

Bitcoin mining. You have to install specific software on your computer, and you have to buy powerful hardware. After that, you can start mining. However, the times when it was profitable to mine at home, have passed – right now Bitcoin appears too expensive.
Open an exchange point and take commissions for transactions. To earn Bitcoins, you have to invest a sufficient sum at first.
Stock market game. It works with the analog of the well-known Forex, but here the main item is Bitcoin. To use this method, you have to understand the main principles of stock market functioning and possess strong analytical skills.
Storage. You can buy a certain amount of crypto-currency and store it for some time, waiting for its possible rising in price. Experts make prognosis that Bitcoin will only grow in price, however, it is not so straightforward, and there is still a risk to lose everything.
Trading. A perfect way to receive earnings – sell items for Bitcoins in the online market, for example. If you invest in advertising, you have good chances to earn from crypto-currency lovers.
Lotteries and casino. Recently, many gambling resources have appeared, which use Bitcoin and Satoshi as stakes.
Using Bitcoin faucets. This method is especially popular among newcomers.
The principle of Bitcoin faucet work is quite simple. You just have to visit a website, enter your Bitcoin wallet, click on the button like “Receive Reward” and type captcha to ensure you are not a bot. If we get things straight, the user receives free coins for watching the advertising. The faucets owners receive their earnings from the ads placement, and the part of their earnings are distributed among users for the visiting of their website.

There are also other types of faucets in the network. They count Satoshi as well, but they are basically Bitcoin generators. They work on the principle of a counter, the peculiarity is that every minute the number of stored Satoshi increases, but the speed of their storage, on the contrary, decreases. This means that the best time for getting your earnings is at the start of new counting.