#TheQuin, you are missing my point.
With all due respect, I think you missed mine. If you have a balance of 0.00030000 you could deposit say 0.01 and then withdraw 0.01030000 and avoid collecting dust that way. Obviously, you need to wait for your moment like now when the mempool is empty and you can get a 1 sat/byte transaction through to do it, but it will save you in the long run.
My reply was not meant to offend you.
... Your method require two things. 1. Faucet users need 0.01 BTC <+/- $100> to do that, which most might not have, and 2. It requires two transactions < One to deposit the 0.01 from your Bitcoin address and one to move it back, which is subsidized by Freebitco.in with batching or subtracted from your balance? >
Mine only needs 1 transaction, but a longer waiting period to move it to your Bitcoin address. The problem is not with the tx from Freebitco.in, because the fee is usually low. The real problem come in when you want to spend it.
0.01 was just used as an example, it could be any amount. I was suggesting it as a way of combining inputs and withdrawing at the same time. I got a 1 sat/byte transaction confirmed in the first block this morning, so doing something like that would make sense.
As there's no minimum deposit amount at freebitco.in it can be a good dust collector from other faucets as well.
1 sat/byte is definitely on the lowest spectrum of the average fee for the last few months. This is why I added the URL :
https://bitcoinfees.info/ for you to see what the average was over a longer period.
Example : At the average Bitcoin price of $10 000, you can buy 9606 Satoshi for $1. The average miners fees has been about $1 and the likelihood of paying that with a Bitcoin address with multiple "dust" deposits is plausible. So, you need roughly
9606 Satoshi to cover your miners fees. < 9606 / 20 Sat/h = 480 hours or 20 days if you do this 24 hours of the day, with no sleep >
In your opinion, what amount of Satoshi would be sufficient to make it worth it to withdraw it from Freebitco.in?
https://bitcoinfees.info/You assumed average miners fees $1 at 9606 Satoshi, in fact the average wasn't based on that but satoshi/Byte
example below is when you withdrawn from Freebitco.in everytime you reach >30k sats balance
for every single utxo "dust" deposit the tx size will be ~192 bytes (148+34+10) with cheapest rate 1s/B like now
if you have 5 utxo worth 30k sats (=150k sats), ~790s tx fee at 1s/B, 790 sats (0.53%) to move 150,000 sats
it would be less if you're using segwit address to hold your "dust" deposits
so for every (minimum) 30k sats, you need ~192s fee which is 0.64% of amount transacted
don't consolidate your "dust" amount when the fee crazy high as in last december
I disagree that $1 was not the average miners fee for the last couple of months, but both of us wants to cherry pick numbers to prove our point. The fact of the matter is that faucet users should time their withdrawals based on the current miners fees to maximize their profits. They should not just withdraw their few Satoshi, when the withdrawal limit is reached.
Every Satoshi count, when you getting 20 Satoshi/hour from these faucets. I have stopped gathering Sat from faucets for years now, but I know some people still do that. We must help them to get the most out of that. Some of the Sat that I did get back then are now worth much more, so I more than made up for the miners fees, if I had to use it now.
