Nukem Faucet
In Bitcoin We Trust!
Frequently Asked Questions
What is Bitcoin?
Bitcoin is a open source, peer-to-peer payment system introduced in 2009. It is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
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What is a faucet?
A faucet is a site where you can earn free bitcoins in exchange for advertising exposure or for completing small tasks. Faucets are a way for newcomers to get the feeling of earning, moving and spending bitcoins for free, even if in small amounts, so that they can try the system and, hopefully, get more involved with it.
Remember 1 Satoshi = 0.00000001 Bitcoin.
What is Paytoshi?
Paytoshi is a reliable Bitcoin micropayment wallet system. It allows users to cache Bitcoin micropayments and to receive them with very low transaction fees once balance reach a given threshold.
Why Bitcoin
Who created Bitcoin?
The first Bitcoin specification and proof of concept was published in 2009 by an unknown individual under the pseudonym Satoshi Nakamoto who revealed little about himself and left the project in late 2010. The Bitcoin community has since grown exponentially.
Satoshi's anonymity often raises unjustified concerns because of a misunderstanding of the open-source nature of Bitcoin. Everyone has access to all of the source code all of the time and any developer can review or modify the software code. As such, the identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper.
What is the Blockchain?
Who controls the Bitcoin network?
Nobody owns the Bitcoin network much like no one owns the technology behind email or the Internet. Bitcoin transactions are verified by Bitcoin miners which has an entire industry and Bitcoin cloud mining options. While developers are improving the software they cannot force a change in the Bitcoin protocol because all users are free to choose what software and version they use.
In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.
How does Bitcoin work?
From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and enables a user to send and receive bitcoins.
Behind the scenes, the Bitcoin network is sharing a massive public ledger called the "block chain". This ledger contains every transaction ever processed which enables a user's computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses therefore allowing all users to have full control over sending bitcoins.
Thus, there is no fraud, no chargebacks and no identifying information that could be compromised resulting in identity theft. To learn more about Bitcoin, you can consult the original Bitcoin whitepaper, read through the extremely thorough Frequently Asked Questions, listen to a Bitcoin podcast or read the latest Bitcoin news.
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