What is a faucet
A faucet is a site that allows people to earn bitcoin (BTC) virtual currency by completing simple tasks, such as viewing a webpage for a specified amount of time, viewing ad content, even solving CAPTCHAs and playing games.
The payout from each faucet task is generally quite small, but over time as you accumulate bitcoin currency through multiple tasks, and as the value of the BTC increases relative to other currencies (which it is expected to do), the earnings from bitcoin faucets could be substantial.
Because bitcoin currency is being released on a deflationary schedule, due to laws of supply and demand, it is expected to grow stronger over time compared to other currencies.
There are 4 ways to get Bitcoin.
1. Mine it
2. Be a Merchant that accepts it for goods or services.
3. Buy it by converting an existing FIAT currency for it.
4. Receive it as a gift
Regardless of the method of obtaining it, Bitcoin is sent to a public address that you own the private key for.
1.- How do i mine Bitcoins?
Mining is the process by which the unconfirmed transactions become confirmed.
You mine bitcoin by either installing the bitcoin-qt software or joining a mining pool and then running a mining software (like cgminer) that uses your CPU/GPU/ASIC cards to solve hashes.
What you are looking for with this software, is the Nonce that is used to provide the proof-of-work for the block that confirms the block as valid.
Mining uses difficulty, to scale the network so that on average, there is a block found every 10 minutes. See (Mining Difficulty)
You can see who has mined each block, by viewing the Hashrate Distribution chart.
2.- Whats exchange to use?
Up until 2014 - the most used Exchange was Mt. Gox which was based in Japan - it however, was proved to not be solvent and closed in January 2014.
Exchanges's I've used are:
Cryptsy - allows USD deposits if using a verified account - used to trade Alt-Coins
MintPal - clean site - used for Alt-Coins
BTC-E - run anonymously
Bitstamp - used to Buy Bitcoin and exchange to US dollars - requires verifying identity - uses ForEx for money transfer if used.
Poloniex - used for many newer Alt-Coins
3.- Buying bitcoin
You buy bitcoin via an exchange, or from another person. If you live in the US, the most widely used method of purchase is Coinbase.com
The other alternative is from an exchange like Bitstamp. Many exchanges will tie to your bank account and transfer funds using ACH transfers, which you then use to purchase coins at the current exchange rate.
Another method, is to buy it from another person. You can do this with your friends, or setup a meet with someone on a website such as LocalBitcoins.
4.- Receive it as a gift
You receive bitcoin, using your public address. This address will look something like this: 18dAhXSeeazgVSmYF78o4z34Z9XUpN7Njj
People send bitcoin to this public address, and once confirmed, the coins are then associated with this address and not with their previous address.
Playing bitcoin games, completing faucet task, downloading apps are another ways to earn bitcoins.