Topic: For the newbies - page 2. (Read 1875 times)

I will definitely like to trade but in small amounts.

The transaction fees at popular exchanges puts me off

Bittfinex: ~15%
Polniex:~25%
Kraken:~20%

How do you then make profit when you are only trading small amounts?

I think only a few newbie who wants to buy bitcoin. And most of them definitely want to get it for free with a bitcoin faucet or other things. And you need to remember if this newbie does not have the skill of how he could get bitcoin of the services they provide?

But I strongly agree with the second option, to stay away from Ponzi sites like cloudmining and HYIP or in other forms. thanks

For newbies there are just 3 rules
1)dont do faucets
2)dont invest in cloudmining
3)keep your BTC on your wallet

If you want to gather BTC with out capital get some from services here, or try to do some hobby mining, in the meanwhile learn how to trade. There is no other path to Bit-ctory (aka Victory)   

do you know what dust is?
these micro transactions that you keep receiving from faucets, even if you wait to accumulate a lot and then withdraw it is still so many transactions.

i just spent a long time teaching a poor bitcoin newbie on another forum (not bitcoin related) what dust is. the poor guy was mad because he had to pay $7 fee for a $10 transaction. and that is what faucets give you.

Yeah, all that true actually, same with faucets. making even 20$ from faucet is a very long , boring haul so it is not worth it at all.
Actually doing btc without some particular skill is hard, if you dont have bitcointalk account. However you can try looking for newbie sig campaining.

I like how you spent time in explaining the newbies why they should not use faucets and guiding them how to earn with signature campaigns. Bit they will probably keep using them and not look into this thread. They will use them and when they actually see that there is no earning with it they will stop. I hope that they will actually see your post as it is very helpful to them.

Apparently, you think that by quoting me out of context by omitting parts of my post and keeping only the parts that fit your agenda, you can somehow change the facts, all while making yourself look good at my expense. Maybe try it on someone less knowledgeable than yourself next time?

The concept of Bitcoin faucets was developed by Gavin Andresen, as he created the first Bitcoin faucet which gave away 5 Bitcoins to every user. According to him, he did that because he wanted "the Bitcoin project to succeed, and I (sic) think it is more likely to be a success if people can get a handful of coins to try it out". A single bitcoin wasn't worth $600 back then, but he was still giving out more than anything he could get back even if the site was ad-supported (which I don't think it even was originally).

It's true that faucets nowadays are mostly created to generate small amounts of income for their operators, which is what my post said before you omitted the parts which didn't support your biased arguments. But you already knew that, didn't you?

Faucets are okay but don't spend a ton of time in them as there are a couple that will give you a decent sized reward with an average of 180 minutes wait times. Just do some of the ones on www.faucetbox.com and you'll see which ones I'm speaking about. I do them in my free time (about 1.5hr total a day) about three times a day and I can net around 30k satoshi in a day. I'm not saying this is a lot but it ads up, and that's what this is all about right?


The reality is, your best bet if you want to earn BTC is you have to do exactly that, earn it. Do your research on BTC itself, contribute as best you can to the forum, and hopefully you will be able to get into a signature campaign. If you have an interest in sports spend a couple mBTC and try your hand at some sports betting. There's a couple of sites around with free faucets that also offer lotteries you can save up tickets and enter at no cost. If you're feeling real lucky you can mess with dice / casino sites. Find some good ways to invest your bitcoin once you have a somewhat decent amount (Casino bankrolls, Lending/Escrowing trades here on the forum, open up your own faucet, etc) Please do your research when it comes to investments, just because your money is in a different form, treat it the same. There's plenty of people trying to scam bitcoin users out there, too many to count.


There's many ways to earn BTC but thing you have to understand as quickly as possible (for everyone's sake) is that there's no BTC fairy that's going to buzz it's way by and drop free money off into your wallet with a little glitter left behind. You have to work for it and earn it.

Faucet will work if you have bot. If not, I recommend to search another way to get bitcoin.
bitcoin same as 'real money'. Its mean: you will get more money if you work harder.
Do not put big hope to faucet or another site that give you free satoshi. Or if you are the great referral fisher, you can use the faucet to beginer btc earner.
I do not recommend to invest your btc, because there are many 'baby site' which never grow up as "adult" or legit site. but, if you are risk taker, you can choose "hit and run" method. Just play for once or twice then find another "baby site".

So does gambling, you can make money/btc by gambling, but don't put big hope from them. From my experience I lost much btc from gambling.

the problem is that the faucet owners aren't really earning that much money either. there is only one successful faucet that i know and that was freebit.co that has suffered like others ever since google ads blocked them.
even faucet owners are earning a tiny amount after deducting the cost of domain+hosting+payment to the users. in the end there is only a tiny amount left for themselves.

Nice tips you have. One thing I found that is wrong - from my perspective.

"You can get payed a few cent's for signature promotion"

This only applies to low rank (which is the targeted user of this thread). You should also add that with higher rank, they can earn a much higher payout from signature campaign. I remember that I earn about ten USD worth of Bitcoin per week when I was Full Member. I started earning 50 USD per week when I was Senior Member.

Entirely false. Faucet sites are made so that the owner of it can make money out of the advertisements. Faucet owners never had the interest of helping newbies out there. In the first place, it's never their responsibility to do so. Faucet sites use those "dust" to make an illusion that the newbies are making money even if ultimately they aren't.

If you calculate the electricity expense and the internet bills that a newbie is consuming, you'll come up to a conclusion that what you have earned from a non-stop all day faucet session is really really little compared to what you have consumed.

Here's a tip for newbies out there that wants to explore faucet sites: "Don't."

Faucets were never meant to be a source of income anyway. Faucets were conceived to help get newbies acquainted with bitcoins and the Bitcoin client. The idea was to provide newbies with some dust which they could then use to learn about sending, receiving, transaction fees, and all those other concepts that Bitcoin users need to know about. However, along the way, the concept got twisted into what it currently is by people who think that Bitcoin is free Internet money that they could get rich from while being a NEET. It's pathetic, really.

This is the first thing that newbies should know about bitcoin: bitcoin is not free money. Some got rich by being early adopters, some by being skillful (lucky) traders, and some by more dubious means. None of those have anything to do with people giving away random amounts of bitcoin dust. Invest, work or trade -- that's how you increase your bitcoins.

I recommend the faucet for newbies in bitcoin to get to know how the wallet/bitcoin works. But dont expect high amount of bitcoin in faucet. Trading bitcoin to alt coin is best way to get a profit in bitcoin.

Thats what i thought when i register here. I thought i can easily earn some bitcoins. But its not. Its a long run for me to earn that. Maybe if you have capital to invest in a investment sites or maybe buy it. It take a lot of time but im not losing my patience. Im gonna earn it and thats my goal.

Agree with the part about faucets. They will make you work from dawn till dusk for weeks, before you make your first $10, so not worth bothering with.

There's something that may throw a newbie in an illusion that they can get a hold of a lot of btc in a short time, well you can't. You need to work just as for the real money. You can get payed a few cent's for signature promotion or offer your skills (if you've got some that are in demand here) to earn a lot more.

Also, don't be fooled by the faucets and such websites, they all may give out something per hour, day or minutes but that is so low that it wil ltake a lot more time to get something than to rank up a little and join a signature campaign. Don't be fooled by that.
If you plan on investin your btc in sopme cloud mining or some other website, your best choise is to ask here for the opinions, because someone may have already been scammed or actually profited so they can guide you with that.

At the end of it, keep your wallet safe, don't rush with the faucets and offers they give, consult here for possible scams and keep on spreading the good word of BTC. Good luck!