Billionaire Tim Derber is one of those who own large amounts of bitcoin, as according to some estimates, he owns about 30,000 bitcoin units, or about $228 million.

Recently, an initiative was announced by Tim Draper, represented in distributing $1 million in bitcoin to attendees and participants in the “Los Angeles Blockchain Week” summit, by distributing $100 in bitcoin but a participant.

While similar operations can be considered a special scam that first requires sending a certain amount of money, but with Tim Draper announced it is completely legitimate and true.

Accordingly, at the Los Angeles Blockchain Week Summit, each participant will receive $100 in investment capital from the Tim Draper and Alon Gorin Foundation.

Read:Decline and decrease in trading volumes on decentralized trading platforms… Details here

I told the management of the venture capital corporation Source It is ready to offer more than a million dollars in total, in an attempt to impress and attract users.

Alon Guren, co-founder of Draper Guren Holm, said:

There is no limit at the moment, but we hope to reach the $1 million in bitcoin offered.

Getting to know Bitcoin is about owning some, using some, and seeing its power first hand.

After we give Bitcoin to everyone, we will provide them with tutorials on how to spend it, how to save it, how to send it to family members on the other side of the world, how to invest it, etc…

Previously, Tim Draper bought 30,000 bitcoins at an auction in 2013 from US authorities, paying just $19 million.

The value of this amount now, as indicated in the introduction to the article, is $288 million.

The event, which is set to start on October 6, has registered 1,000 participants so far, however organizers are expecting more than 20,000 attendees.

The process of providing $100 of bitcoin to participants is not completely free as the eToro trading platform offers a free ticket to this event, but provided that you are a resident of the United States of America and buy at least $50 of cryptocurrencies from the eToro platform, as for those who already have an account and owns Cryptocurrencies on the eToro platform where you can collect a ticket for free and provide a minimum of $50 in Bitcoin.

Read:Crypto project “Harmony” suffers from $100 million hack and ONE cryptocurrency affected by the event

This adoption tactics and strategy is not new in the crypto world. In 2010, developer Gavin Anderson created a Bitcoin faucet that rewards you for completing some simple tasks. The idea was to attract interest in Bitcoin and motivate users.

In the early days of 2010 the faucet used to pay 5 bitcoins per person (at that time 5 bitcoins were worth $1), today it is about $50,000.

Read also:

Nine billionaires reveal how much bitcoin they have in their wallets

In numbers … Learn about the fortune of the founder of Ethereum “Vitalik Buterin”