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BitcoinSV Livebook

0002-faucet.livemd

BitcoinSV Livebook

Part 2 - Using a faucet

Receive bitcoin at a new address

Our wallet starts empty, because the keys it manages have not received any transactions.

Like cash, our initial bitcoin must come from somewhere. In practice, one person gives bitcoin to another, for goods or services. For this demo, we’ll use a “faucet.”

A faucet is a website somebody maintains, funded with coins, that allows people to have small amounts of (testnet) coins. Like a sip of water, from a faucet. We’ll use the faucet provided by https://faucet.bitails.net to get some satoshis to use.

Fortunately, a small amount of bitcoin can go a long way.

On the bitails.net faucet site:
  1. Enter the public_address you created in Part 1, and complete the captcha, to receive the bitcoin.
  2. You’ll receive a confirmation message. The confirmation message will include a transaction ID. Make a note of the Transaction ID.

Keep a note of the transaction ID and keep the public address handy, as we’ll use it next time.

Next time, we’re going to use our newly acquired testnet satoshis to create a Bitcoin Transaction and send it somewhere - to a friend, or back to ourselves (as practice).