In 2015, faucets are bad for bitcoin - page 17.

Kprawn

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Quote from: deon on October 31, 2015, 02:59:39 AM

Kind of frustrating when you try to spend bitcoin from all those micro-transactions.

I Sad

Then you doing it wrong. Only use faucets that use the Xapo wallet. Every payout from each of these faucets go to your Xapo wallet and it's all off-chain. Once you have built up

enough coins, you transfer one amount to a online wallet and it becomes part of the blockchain. This way you create no dust in your account and you can spend almost everything

you own from these faucets. I do this and pay no fees on any of my transactions. You just need to do it right. Roll Eyes

lixer

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Quote from: dollarneed on October 30, 2015, 10:16:15 PM

Quote from: Lover of Coin on October 30, 2015, 12:05:57 PM

Quote from: dollarneed on October 30, 2015, 12:54:34 AM

unfortunately iam not a early adopter, so i couldn't earn much bitcoin from them i've tried a lot of faucet like freebitco, moonbitco, landofbitco etc but its so hard to make 1$, and then i found altcoin faucet, i've earned much coin was, when the price is low, so far just earned bitcoin from my referrals on freebitcoin

Do you earn altcoin from faucet and sell it for bitcoin? That is a good way to earn some bitcoin. That is not good for the adoption of altcoin.

Yes i was earned much altcoin from faucet of course i earned when the price was low, then sell them when the price was high, so far there are some altcoin's faucet is working right now like clams and dogecoin, collect them and sell high is the key.

Alt coin faucets are not good enough like bitcoin faucet. Because they are paying like the bitcoin amount of Satoshi in alt coin also. That is very bad intention like cheating the faucet users. I do not prefer to go for alt coin faucets at any recommendations.

deon

newbie

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Kind of frustrating when you try to spend bitcoin from all those micro-transactions.

I Sad

makcik

full member

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Bitcoins have gained too much popularity nowadays , they are turning our to be an amazing cashless currency . Faucets are a basic method for earning some small btc. But, they've become useless and bad..here's why
(1) They pay very very very low-- They pay 100-200 satoshis at once which is very low...
(2) Time consuming-- They eat up your time, paying you nothing in round off figure
(3) Some websites are fraud-- Some websites make you click wrong ads for their own good and pay you nothing, hence cheating you.

ranochigo

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Quote from: dothebeats on October 30, 2015, 04:03:10 PM

Quote from: lumeire on October 30, 2015, 12:26:23 PM

Quote from: bitgolden on October 30, 2015, 01:58:13 AM

Quote from: winguard on October 30, 2015, 01:47:28 AM

To be fair faucets are not that bad.. They advertise and attract newcomers to try out bitcoin, and from faucets they learn how micro transactions work.

Yes. Faucets are for new bitcoiners. If you want someone to get into bitcoin means showing faucets will work better for them to understand how bitcoin system fundamentally works and how to receive payments from that how we can send payments all there are possible with virtually free money.

But they all sprout like mushrooms here and there, and often with so many ads you can't even see the claim button.

Besides, it takes a long while before the btc you get there is even withdrawable, which afterwards you see the tx fees eat em all up.

Plus if you have too many dust transactions in your wallet, you are likely to have a problem on fees. Check this link to find out more.

Such situations can arise if one of the output is less than 2730satoshis as of now. It doesn't matter how much fees you pay. Due to the amount of inputs, the fees would be high. Some faucet APIs allow users to set withdrawal threshold which can reduce such occurrences. Alternatively, use a online wallet which pays the fees for you or use faucet that pays directly to your online wallet. Note that I do not recommend storing coins in online wallet for extended period of time.

cjmoles

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Hmmm. I got started with faucets. I've never bought bitcoin and I don't have a bank account. I started small, made some wise investments (some very bad one's too), and am doing alright. I invested small faucet earnings into some interesting alternative coins, learned the dynamics of trading, and ended up learning enough to keep a steady profit margin going. I think faucets are great.

dollarneed

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Quote from: Lover of Coin on October 30, 2015, 12:05:57 PM

Quote from: dollarneed on October 30, 2015, 12:54:34 AM

unfortunately iam not a early adopter, so i couldn't earn much bitcoin from them i've tried a lot of faucet like freebitco, moonbitco, landofbitco etc but its so hard to make 1$, and then i found altcoin faucet, i've earned much coin was, when the price is low, so far just earned bitcoin from my referrals on freebitcoin

Do you earn altcoin from faucet and sell it for bitcoin? That is a good way to earn some bitcoin. That is not good for the adoption of altcoin.

Yes i was earned much altcoin from faucet of course i earned when the price was low, then sell them when the price was high, so far there are some altcoin's faucet is working right now like clams and dogecoin, collect them and sell high is the key.

Blue_Tiger73

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Activity: 112

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Quote from: countryfree on March 07, 2015, 12:51:11 PM

Faucets are hurting bitcoin by making some people believing you can get it while doing nothing sitting in your home. No, BTC isn't like that, and it shouldn't be any easier to get than any fiat currency. Even for small amounts.

I agree. When I started bitcoin I used to use faucets. But they pay soo little and you just sit at home pressing "Are you a human" for days. Faucets take advantage of people, the amount of ads that they have on the pages earns them far more than what they're paying you. I also believe that faucets should slowly fade away in 2016 as 2015 is coming to an end and I don't think that many faucets are going to stop. Just get a job, even at like McDonalds or something, you'll earn way more in one hour of working compared to spending the whole day on faucets.

dothebeats

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Quote from: lumeire on October 30, 2015, 12:26:23 PM

Quote from: bitgolden on October 30, 2015, 01:58:13 AM

Quote from: winguard on October 30, 2015, 01:47:28 AM

To be fair faucets are not that bad.. They advertise and attract newcomers to try out bitcoin, and from faucets they learn how micro transactions work.

Yes. Faucets are for new bitcoiners. If you want someone to get into bitcoin means showing faucets will work better for them to understand how bitcoin system fundamentally works and how to receive payments from that how we can send payments all there are possible with virtually free money.

But they all sprout like mushrooms here and there, and often with so many ads you can't even see the claim button.

Besides, it takes a long while before the btc you get there is even withdrawable, which afterwards you see the tx fees eat em all up.

Plus if you have too many dust transactions in your wallet, you are likely to have a problem on fees. Check this link to find out more.

Wapinter

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Hire me for Bounty Management

Quote from: lumeire on October 30, 2015, 12:26:23 PM

Quote from: bitgolden on October 30, 2015, 01:58:13 AM

Quote from: winguard on October 30, 2015, 01:47:28 AM

To be fair faucets are not that bad.. They advertise and attract newcomers to try out bitcoin, and from faucets they learn how micro transactions work.

Yes. Faucets are for new bitcoiners. If you want someone to get into bitcoin means showing faucets will work better for them to understand how bitcoin system fundamentally works and how to receive payments from that how we can send payments all there are possible with virtually free money.

But they all sprout like mushrooms here and there, and often with so many ads you can't even see the claim button.

Besides, it takes a long while before the btc you get there is even withdrawable, which afterwards you see the tx fees eat em all up.

Yes some faucets deliberately hide the claim button I remember on one such faucet I couldn't find any genuine claim button unless I clicked all fake claim buttons.Thats very frustrating I came back to faucetbox and gave that faucet thumbs down .I hope its owner take note of it and keep from using too many fake claim buttons

lumeire

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Next-Gen Trade Racing Metaverse

Quote from: bitgolden on October 30, 2015, 01:58:13 AM

Quote from: winguard on October 30, 2015, 01:47:28 AM

To be fair faucets are not that bad.. They advertise and attract newcomers to try out bitcoin, and from faucets they learn how micro transactions work.

Yes. Faucets are for new bitcoiners. If you want someone to get into bitcoin means showing faucets will work better for them to understand how bitcoin system fundamentally works and how to receive payments from that how we can send payments all there are possible with virtually free money.

But they all sprout like mushrooms here and there, and often with so many ads you can't even see the claim button.

Besides, it takes a long while before the btc you get there is even withdrawable, which afterwards you see the tx fees eat em all up.

Slark

legendary

Activity: 1862

Merit: 1004

Quote from: asusZ on October 29, 2015, 08:33:09 PM

I suppose it depends on one's viewpoint and I think faucet is good for beginners like me

, i hope faucet have a long life Grin

And may I ask how much you earn weekly from faucets? I bet it is not more than $50 cents. Do you still think faucet are 'free money'?

tiggytomb

legendary

Activity: 1848

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Faucets are good for those just coming in that are unsure whether to spend their money and buy BTC it gives them the chance to get some for free and then become familiar with how it works and then sending to other wallets and so on, when I first came upon bitcoin I used faucets initially but they really are not worth it beyond an introduction into bitcoin.

Lover of Coin

newbie

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Quote from: dollarneed on October 30, 2015, 12:54:34 AM

unfortunately iam not a early adopter, so i couldn't earn much bitcoin from them i've tried a lot of faucet like freebitco, moonbitco, landofbitco etc but its so hard to make 1$, and then i found altcoin faucet, i've earned much coin was, when the price is low, so far just earned bitcoin from my referrals on freebitcoin

Do you earn altcoin from faucet and sell it for bitcoin? That is a good way to earn some bitcoin. That is not good for the adoption of altcoin.

YuginKadoya

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Activity: 3038

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Quote from: bitgolden on October 30, 2015, 01:58:13 AM

Yes. Faucets are for new bitcoiners. If you want someone to get into bitcoin means showing faucets will work better for them to understand how bitcoin system fundamentally works and how to receive payments from that how we can send payments all there are possible with virtually free money.

Yup! I totally agree with you dude, if there are newbie's to bitcoin I am always introducing them to faucet just to have a slight crypto in their bitcoin wallet, and I think even though faucet only give small amount there is no 1 bitcoin if it weren't to 1 satoshi

CoinThug

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Faucets is just annoying, because it takes so long. Sad

bitgolden

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Leading Crypto Sports Betting & Casino Platform

Quote from: winguard on October 30, 2015, 01:47:28 AM

To be fair faucets are not that bad.. They advertise and attract newcomers to try out bitcoin, and from faucets they learn how micro transactions work.

Yes. Faucets are for new bitcoiners. If you want someone to get into bitcoin means showing faucets will work better for them to understand how bitcoin system fundamentally works and how to receive payments from that how we can send payments all there are possible with virtually free money.

winguard

member

Activity: 112

Merit: 10

To be fair faucets are not that bad.. They advertise and attract newcomers to try out bitcoin, and from faucets they learn how micro transactions work.

Corealz

full member

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Quote from: Kakmakr on October 30, 2015, 12:48:27 AM

Quote from: dollarneed on October 30, 2015, 12:31:10 AM

i think so, since faucet site give a small reward it looks like wasting our time there, i prefer earned bitcoin from altcoin fucet like applebyte (now artbyte),and clams i can make much bitcoin from them, earned bitcoin from bitcoin's faucet it so hard except if you have a lot of referrals

Bitcoin faucet also paid out a lot more when they started. The difference between now and then is this :

~ There are millions of Bitcoin users now.
~ Bitcoin has increased in value
~ Early adopters mined a lot more coins and they were more willing to dish it out, because the value was low.
~ The goal of faucets then, was to increase adoption, now it shifted to a income potential for poor people.
~ There are also lots more faucet sites now, and a standard payout has been set by the bigger faucets.

The Alt coin faucets are now in the early Bitcoin stage, where they need to make bigger faucet payouts to increase adoption.

The faucets back in the day paid out more because bitcoins back then were only worth pennies compared to now.

dollarneed

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Activity: 742

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Quote from: Kakmakr on October 30, 2015, 12:48:27 AM

Quote from: dollarneed on October 30, 2015, 12:31:10 AM

i think so, since faucet site give a small reward it looks like wasting our time there, i prefer earned bitcoin from altcoin fucet like applebyte (now artbyte),and clams i can make much bitcoin from them, earned bitcoin from bitcoin's faucet it so hard except if you have a lot of referrals

Bitcoin faucet also paid out a lot more when they started. The difference between now and then is this :

~ There are millions of Bitcoin users now.
~ Bitcoin has increased in value
~ Early adopters mined a lot more coins and they were more willing to dish it out, because the value was low.
~ The goal of faucets then, was to increase adoption, now it shifted to a income potential for poor people.
~ There are also lots more faucet sites now, and a standard payout has been set by the bigger faucets.

The Alt coin faucets are now in the early Bitcoin stage, where they need to make bigger faucet payouts to increase adoption.

unfortunately iam not a early adopter, so i couldn't earn much bitcoin from them i've tried a lot of faucet like freebitco, moonbitco, landofbitco etc but its so hard to make 1$, and then i found altcoin faucet, i've earned much coin was, when the price is low, so far just earned bitcoin from my referrals on freebitcoin

Topic: In 2015, faucets are bad for bitcoin - page 17. (Read 25980 times)