Topic: How do free faucets pay ? (Read 4531 times)

Faucets are good when you're starting out, to test your wallet and such.

faucet completely wasting time, especially if no referral program there
if it have great referral program, we can try and see how much we got
faucet owner get $ from advertising and pay us with BTC

Faucet owners don't earn a lot, just enough to keep their faucets running with a small profit.. Really not worth it imo.

No.
They pay by donation (people who believe in bitcoin and want to spread it...), but mainly from the ads that are present on the website.

This is why, you will not get a lot of btc, and it is not really worth your time ^^

I did not get your point !!!

Are you saying faucets pay by mining ?

There use to be some "altruistic" faucets out there, run by guys who just wanted to spread bitcoin. These were generally funded by a mining rig, one GPU maybe in 2012, and I know there was one guy with a BFL single doing it 6 months or so back... but high demand and rising difficulty meant they went from millibits to dust over a couple of months. Then even when they "bottomed" at 100 satoshi or so, they'd be all out within an hour of midnight or whenever they reset.

Nope, I used to visit faucets back when the price was ~$90 and saved up 0.0025BTC (from 2 months of faucet visiting) and when the price spiked up to ~$1200 it was only worth ~$3. Moral of the story: faucets are a waste of time

They believe the dusts will still worth a lot when btc price go up 1000x 

Yes and it's always newbies that fall in for that trap thinking that the tiny bits faucets give you can turn into something really big

+1

Faucet make money by donations and ads. And most of have minimum limit for payout.Most people will not reach payout. So their expense is very less.

You should read GAML's post: https://bitcointalksearch.org/topic/m.5883030

Faucets is complete waste of your time.

From www.CoinLearn.org home page...


So u r 1000 Satoshi less than the threshold. Once you reach the threshold, dont expect to be paid immediately. They'll move it to the pending. On their next payment schedule they'll pay u off. In the mean time u may increase your pending amount by spending more time on the site. I used to earn myself till mid of march. Now, as I have been a little busy, I am relying on some good referrals made at reddit, FB and twitter. Interestingly, their referral payout is better than freebitco.in ....at least in my case.

Most faucets earned from donations and advertisements.

There was an app or website that would take you to each website and what have you. Something to do while you're bored I guess.

Hi thank you and thank you for pointing this out.  I must be doing something wrong in that case.  I have over 9000 satoshi on my coinlearn account back have never been able to find information or a check box or anything to get them paid out?  Is there a set limit I am missing to enable auto payment?  I also sent you a DM 

@GAML U have made a really good post clarifying why earnings from free faucets matter. I just disagree with u on one point, when u say CoinLearn.org does not pay. CoinLearn.org and FreeBitco.in are the 2 faucets from where I have received payement. CoinLearn.org payment proofs on blockchain are on their site too and u may also verify the same from other posts in the forum. For freebitco.in... u have already spoken the truth.

It's mostly from ad revenue. And it's not much either. Waste of time if you ask me.

Hi

I used coinlearn.org and it has never paid out.  Freebitco.in does pay out Freebitco.in  

Qoinpro multicoin faucet that credits your account various coins every 24 hours.

Bitvisitor Also pays out.

http://www.thediabloguide.com/ is a good place to start as are the faucet listing threads on here.  Be open minded.  It isn't all about free bitcoin; there are many other coins with faucets that are worth using too.

I completely disagree with anyone who says faucets are a waste of time.  Yes it can take a while to build up some satoshi but it is what you do with the satoshi that counts.  Choose a solid coin to invest in, trade it on the exchanges and apply compounding.  

When it comes to choosing a coin to trade in / invest in; it is very important to pick a coin that has any combination or all of the following attributes:
A good development team behind it.
Is innovative in some way.
Has a use or is useful.
Has a unique feature.
Has good branding or is well branded.
A strong community who believe in the coin and can give valid justification of why.
Scarcity of the coin.
Has a strong affinity with something productive / positive [ Could be a movement or ideology + what are the community saying about it?]

These things add value.  A combination of; or all of the aforementioned properties are more likely to make the coin increase in value over time, resulting in a stable market that grows and has good prospects for medium to long term investment.  Avoid mindless "shitcoins", they only end up getting dumped and you will lose your hard earned satoshi.

Watch the markets and look for gradual organic growth, a nice steady natural increase in price.  When you see massive spikes then drops that is people doing pump and dumps.  Look how they market behaves after the pump and dump.  If it starts growing naturally again you know it is a pretty safe market to invest in.

Avoid public pump and dumps as these are often scams where the organisers will dump on you or encourage you to buy as they are dumping.  I personally do not join private pumps because I don't like the idea of dumping on people to profit for myself and I think pumps devalue the market long term.  If a pump comes along when I am trading I will capitalise on it but i will discuss that later in this post.

I like to trade by myself, based on research and informed decisions.  There are lots of free videos, seminars and credible articles on day trading.  Read up on day trading and apply those same techniques.  Read up on compounding and "the rule of 72" as well.  Banks us compounding and the rule of 72 and it is how they generate such massive profits.

I know some people might read this and think "whatever!" so I will give a real example of a trade I did on Mintpal.  In one day of trading I made a 250% return on investment through small incremental trades.  

Lets do a simple example and say you get 25,000 satoshi from the links I posted above.  ROI = [(Payback - Investment)/Investment)*100.  
Let's say you purchased a coin called Pretendcoin at 400 satoshi each.  
That would mean for 25000 satoshi you would have 62.5 Pretendcoin.
Now lets say you have looked at the way the market is behaving and are confident that you can sell those coins for 600 satoshi.
You are correct   and they do sell.  You now have 37500 satoshi

ROI = (37500 - 25000) / 25000*100 = 50%

The next day [or even within the next hour] you take your 37500 and the market has dropped a bit; but you can still see growth in the patterns of the market candlestick charts.
[It always pays to watch the market behavior and plan your next trade]

You buy Pretendcoin again at 554 satoshi each.  37500 / 500 = 75 Pretendcoin

Now let's imagine you are watching the market and it suddenly goes crazy.  Going up very fast.  All orders are getting bought up and the coin is breaking out 550, 570, 600, 640, 700, 715, 750, 800

This behavior is the start of a pump. Those prices will hit a peak and then the dumping will start and it will go back down very quickly.  The trick here is to use your intuition, NOT BE GREEDY and have a guess how high it will rise and where YOU are HAPPY to sell.  No matter what happens; as long as you made profit BE HAPPY.  Do not look after and think I sold at 1000 and it went to 2000.  You made a good trade and are in profit.  If you look at what you could of made "If only I held out longer"  that is where mistakes can happen.  If you get trapped in the dump you will either have your satoshi tied up in a trade or coin that will take a while for you to get it back or will be lost.

If this happens and the market is dropping long term on a clear downward longer term trend; it is better to draw a line under it, sell at a loss and start over with what you have left.  FACT all day traders lose on trades.  No one can ever or has ever made a profit on every single trade they ever did.  Be wise and do not take big risks.  Being patient and making small regular profit will pay you well in the medium to long term through compounding.  What counts is being in profit at the end of the day, week or month.  Win some battles, Lose some battles but make sure you are winning the war so to speak.  The medium to long term game is what counts and you want to be in profit overall.

So back to the maths.  The market is getting pumped and you decide to sell your coin at 1500 each.  75 * 1500 = 112500 satoshi  
(The dump starts after the coin peaks at 2220, but we don't care about that do we?  We sold when we were HAPPY and WE MADE PROFIT remember   )

ROI = (112500 - 37500) /37500 = 200%

To put those examples into perspective; Forex markets move about 1% a day if you are lucky and are high risk, many noobies who attempt day trading without really learning or planning lose their entire investment though Forex trading.  US stocks move around 30% on a good day and are lower risk but require larger investment to start trading (One site I was looking at $3000 minimum investment to open an account).  The good news is there are so many great free resources to learn the technical theory and techniques used in day trading.  Those same tried and tested principles apply to cryptocurrency trading.  For example watch: VIDEO :  How to understand Candlestick Charts - http://youtu.be/OGFxp3Pixg8

Get a spreadsheet and do some compounding for fun.  Make up some numbers and have a play around compounding your trades; put some losses in there too if you want just for fun.  Be realistic but also treat yourself to some big wins (it will happen); by around the 15th - 17th trade you will find a very pleasant surprise at how much your faucet money has turned into   .  Even better, watch a market and put real trades you would have done on the spreadsheet without actually making the trades.  You won't make money but you will learn from this exercise, gain in confidence and any losses won't matter a single bit....coin  .


I have traded various coins; however the markets I am trading at the moment are:

Black coin [BC] / BTC
Fluttercoin [FLT] / BTC
BitcoinsCrypt [BTCS] / BTC
Karmacoin [KARMA] / [LTC]

Best advice I was given in regards trading (from a stockbroker turned day trader) was:  It is not about the size of the ROI on a single trade it is about making decent incremental gains at a pace you are happy with.  Do not take risks that you are uncomfortable with.  Yes you can put all of your satoshi in a single trade but do not get emotional about it.  If you lose it; it is lost.  Accept it and start again but look at the positive side too.  What did you learn from the experience?  Better to start off will small trades and realistic risks.  For example 10% of your satoshi and a 5% ROI.  This is good practice.  It will not take long for you to get a feel for the markets of the coins you choose and you can start making larger ROI with confidence because you are making informed decisions based on your knowledge, experience and intuition into that trade.  It is when people get caught up in the "buzz" of bigger and bigger returns that they take bigger and bigger risks.  Eventually one of those big risks will end in disaster.  Keep a day trading diary.  Whether trades go wrong or right keep a record of what you did?  What happened? Why did it happen?  Reflect on it and use it to enhance your insight and intuition.  Pattern recognition is a big part of successful trading and patterns repeat themselves; your diary can help you recognise these patterns in the future.  Markets are driven by human behavior and many behaviors are predictable.

Good luck with your faucets.  Keep collecting free satoshis but also remember to click adverts on those sites you are interested in.  If the faucet does not make money from the ads the free bitcoins will run out and the faucet will have to close.  By using those satoshi wisely you can earn some good money.

I know visiting faucets seems painfully slow going at first and can be a ball-ache, so I shall leave you with my quote of the day - "Nothing can be achieved without effort except for failure" - Anon.

P.S Don't waste those satoshi on gambling websites.  The house will always win in the long term and 0 satoshi = no trading opportunities.