Today Bitcoin got a rather big boost thanks to Snapcard’s promotion of a $500 sweepstakes. The company will open the winner a wallet on their own platform and provide them with the money. Presumably there would then be nothing stopping the winner from moving the money to their own Bitcoin wallet. The contest seems aimed at newcomers to the Bitcoin space rather than veteran Bitcoiners who know their way around the system.
While Bitcoin is widely considered a technological tour de force and a truly revolutionary application of economics, the technology has not spread widely to common people as of yet. By going out and giving away significant sums of bitcoins, such as Snapcard has done here, companies and individuals can truly spread the word. Even nominal sums, such as in the case of faucets, have managed to stimulate interest and bring in new members of this community. Certainly free money buys a lot of interest.
Microsoft has recently embraced Bitcoin more and more, as a whole. The company began accepting it for some digital products awhile back, and more recently the Bill and Melinda Gates Foundation announced a pioneering project in Africa that would involve Bitcoin.
Last modified: May 21, 2020 11:03 AM UTC