How Will BTC Faucets Deal With A $50,000 Bitcoin Price? - page 3.

bitart

hero member

Activity: 1442

Merit: 629

Vires in Numeris

Quote from: CoinEraser on December 03, 2017, 01:28:33 PM

Quote from: rivercityjon on December 03, 2017, 01:18:01 PM

As the USD price of Bitcoin increases, the rewards that popular Bitcoin faucets payout decreases accordingly. Sites that would pay 50-70 satoshi per claim last year are now paying between 15-20 satoshi per claim.

If the price of Bitcoin continues to climb to $50,000 USD, the value of 1 satoshi would conceivably be higher then these faucets could afford to pay out (per climb) compared to the ad income they generate.

Any thoughts on how will these faucets deal with payouts when 1 satoshi is worth too much?

I think some faucets change to another coin or maybe the user of the faucet has to claim 10 or more times to get 1 satoshi. Roll Eyes

1 satoshi is the technical minimum limit of the bitcoin, but a faucet can say that 1 click worths 0,1 satoshi, and you can claim your earnings when you reach 1 satoshi, no problem and most of the people will understand easily. There's no need to switch to another coin, and people will be more happy with 0,1 satoshi per click instead of some alt because they only need to look for the BTC/USD price and don't need to calculate with the alt/BTC exhange rate as well.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

You are absolutely right about the decrease in claims from faucets as bitcoin price increases. I once experienced this with dogecoin when I started newly in crypto. It used to be two doges per claim until it was decreased to 0.5. But really, faucets are a complete waste of time if you asked me.

tora

member

Activity: 532

Merit: 13

Not only would they have to reduce the value of each claim they would also have to reduce the value of the withdrawal limit.

phreakk

sr. member

Activity: 307

Merit: 250

Let's start with the fact that at $50,000 USD per BTC means that 1 Satoshi is worth $0.0005, or about 0.05 cents... 1/20th of a cent! I feel like faucets should be able to pay at least 1/20th of a cent per claim, as going below that means you're truly paying nothing.

Anyways, what if the price of Bitcoin reaches such a height, that paying 1 Satoshi per claim would be too much?

A points system. Example: A faucet could give 1 point per claim and you'd need 100 points to obtain 1 Satoshi. It's that easy!!! Wink

Another option is that they switch to a different coin or they make it a gambling thing. "5% chance to win 1 Satoshi" for example.

CoinEraser

legendary

Activity: 1988

Merit: 1768

Quote from: rivercityjon on December 03, 2017, 01:18:01 PM

As the USD price of Bitcoin increases, the rewards that popular Bitcoin faucets payout decreases accordingly. Sites that would pay 50-70 satoshi per claim last year are now paying between 15-20 satoshi per claim.

If the price of Bitcoin continues to climb to $50,000 USD, the value of 1 satoshi would conceivably be higher then these faucets could afford to pay out (per climb) compared to the ad income they generate.

Any thoughts on how will these faucets deal with payouts when 1 satoshi is worth too much?

I think some faucets change to another coin or maybe the user of the faucet has to claim 10 or more times to get 1 satoshi. Roll Eyes

rivercityjon

newbie

Activity: 16

Merit: 0

As the USD price of Bitcoin increases, the rewards that popular Bitcoin faucets payout decreases accordingly. Sites that would pay 50-70 satoshi per claim last year are now paying between 15-20 satoshi per claim.

If the price of Bitcoin continues to climb to $50,000 USD, the value of 1 satoshi would conceivably be higher then these faucets could afford to pay out (per climb) compared to the ad income they generate.

Any thoughts on how will these faucets deal with payouts when 1 satoshi is worth too much?

Topic: How Will BTC Faucets Deal With A $50,000 Bitcoin Price? - page 3. (Read 1107 times)