In 2015, faucets are bad for bitcoin - page 18.

Kakmakr

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Quote from: dollarneed on October 30, 2015, 01:31:10 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.

dollarneed

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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

uwichii

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Do you realize how little BTC faucets give you? It takes weeks to have any amount to spend on something. I guess it's as wasteful as walking around all day dropping pennies on the ground because most people don't have the patience to accumulate enough bitcoin to do anything with so it ends up sitting in a wallet in < $1 balances.

The gambling component of faucets often allows the BTC to go back to the faucet user and then the facets ads are viewed at the same time (which is the real business faucets are in, advertising.)

Kevin77

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Quote from: e1ghtSpace on October 30, 2015, 12:14:12 AM

Quote from: JeWay on October 30, 2015, 12:03:06 AM

I think faucets is good for Bitcoin, especially for Blockchain.
And it would be even better if they giveaway a big rewards
Who doesn't like free money, right?

Dude, faucets suck, I would rather go into a raffle with 100 people for the chance to win 0.01 btc than stay at a faucet for a year and finally get the 0.01 btc.
Raffles are in my opinion better if they are free.

Yes if it free then it's worth in collecting them. But Anything comes free ate not getting it's own worth just because of it's free nature. Faucets come with a little work, captcha solving and people are collecting it with the thoughts of future price of bitcoin.

e1ghtSpace

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Quote from: JeWay on October 30, 2015, 12:03:06 AM

I think faucets is good for Bitcoin, especially for Blockchain.
And it would be even better if they giveaway a big rewards
Who doesn't like free money, right?

Dude, faucets suck, I would rather go into a raffle with 100 people for the chance to win 0.01 btc than stay at a faucet for a year and finally get the 0.01 btc.
Raffles are in my opinion better if they are free.

JeWay

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I think faucets is good for Bitcoin, especially for Blockchain.
And it would be even better if they giveaway a big rewards
Who doesn't like free money, right?

asusZ

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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

cellard

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OP is simply wrong. Over time, when the price goes up the faucets will adjust their rewards. At the end of the day, you will never be able to make any relevant money off faucets, so let people enjoy some symbolic amount of Bitcoins for free to test it, thats good.

zimmah

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Quote from: countryfree on March 07, 2015, 01:51:11 PM

When BTC started, nobody had any and it was worthless, so it was right to give away thousands of BTC to make it popular. All that has changed. Now that BTC's worth something, now that companies are building on BTC, now that serious business transactions are made with bitcoin, it's about time for faucets to adapt.

BTC is real. It's money, and you've got to work to earn some. I hope all faucets will disappear in 2015. 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.

faucets give out fractions of bitcoin, often you only make a few cents per hour, worse than the worst paid job.

You can do captchas for dollars at about the same rate (you can also do captchas for satoshi).

The value of bitcoin gained is often so small, they announce it in satoshi, because 0.00000100 bitcoin would look to small, but 100 satoshi looks like a lot.

So it's still good for publicity and to experiment with it. Give people some free bitcoin (paid with ads) and let them play with it.

It also shows that bitcoin can be used to pay in small amounts for small services.

Betwrong

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Quote from: visual111 on October 29, 2015, 12:25:07 AM

I don't think faucets are bad. they encourage people to play a bit with their coins; maybe that's how they get into BTC

I agree, kids especially, they are the future to tell the truth, but they don't have any money sometimes, so faucets are a very good start with Bitcoin for them.

upsidedown75

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Quote from: snipie on October 29, 2015, 11:46:59 AM

No OP sorry but you are wrong.
Faucets are attracting many new users in the btc world.
When you solve a captcha you win ''free'' money but the faucet owner wins also money from the traffic.
Nowadays there is plenty faucets and you need to select and make a list containing the best and this takes too much time.

Faucets will not vanish unless there is no more adsense and its similar that pays with bitcoin.

Yes faucets are entry point for every new bitcoiner. The attraction of free money in bitcoin ecosystem is still possible only with faucets even we are not having CPU mining right away. So, faucets are prime factor on bictoin ecosystem for ever.

The Sceptical Chymist

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Quote from: Kakmakr on October 29, 2015, 02:19:00 AM

Something that everyone might be missing with faucets is this. When newbies start out with Bitcoin, they do not trust the technology. They will be hesitant to drop their own money on something they know very little about. There are also so much negative reporting in the media, and this increase the uncertainty.

Faucets offer these newbies a risk free option to use none of their own money to experiment with Bitcoin. It makes adoption so much easier, if you can experiment with some else money. ^hmf^

Not only are people not missing this, it's been stated over and over in this very thread. You ought to try reading first.

snipie

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No OP sorry but you are wrong.
Faucets are attracting many new users in the btc world.
When you solve a captcha you win ''free'' money but the faucet owner wins also money from the traffic.
Nowadays there is plenty faucets and you need to select and make a list containing the best and this takes too much time.

Faucets will not vanish unless there is no more adsense and its similar that pays with bitcoin.

leex1528

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Quote from: ranochigo on October 29, 2015, 05:47:06 AM

Quote from: YuginKadoya on October 29, 2015, 05:10:44 AM

Quote from: USB-S on October 29, 2015, 04:54:21 AM

To ban faucets from bitcoin, you need to ban all PTC sites from the internet and that really does not make sense.

Yup! that is right, OP really is mad about faucets why does he? Huh

maybe some faucets site have scam him and he didn't get a single satoshi after collecting much of it then his going to cash out, but never attain that said satoshi from the faucet site, maybe?

and there are certain scam sites so be very careful

They aren't scamming most of the time. However, the payouts are so low that it equates the the transaction fees most of the time. Hence, most would have a minimum withdrawal which can take sometime to hit.

There are definitely sites out there that have scammed people. I used to do a faucet when I first started and it eventually stopped paying out even know I was still doing tasks for them. The name escapes my mind at the moment but I was working for free back then!

YuginKadoya

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Quote from: ranochigo on October 29, 2015, 05:47:06 AM

They aren't scamming most of the time. However, the payouts are so low that it equates the the transaction fees most of the time. Hence, most would have a minimum withdrawal which can take sometime to hit.

But there are some reports of scamming just a few, I am not referring to all faucets because I my self is using faucet to gain certain amounts of bitcoin but it is very time consuming to faucet satoshi.

ranochigo

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Quote from: YuginKadoya on October 29, 2015, 05:10:44 AM

Quote from: USB-S on October 29, 2015, 04:54:21 AM

To ban faucets from bitcoin, you need to ban all PTC sites from the internet and that really does not make sense.

Yup! that is right, OP really is mad about faucets why does he? Huh

maybe some faucets site have scam him and he didn't get a single satoshi after collecting much of it then his going to cash out, but never attain that said satoshi from the faucet site, maybe?

and there are certain scam sites so be very careful

They aren't scamming most of the time. However, the payouts are so low that it equates the the transaction fees most of the time. Hence, most would have a minimum withdrawal which can take sometime to hit.

YuginKadoya

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Quote from: USB-S on October 29, 2015, 04:54:21 AM

To ban faucets from bitcoin, you need to ban all PTC sites from the internet and that really does not make sense.

Yup! that is right, OP really is mad about faucets why does he? Huh

maybe some faucets site have scam him and he didn't get a single satoshi after collecting much of it then his going to cash out, but never attain that said satoshi from the faucet site, maybe?

and there are certain scam sites so be very careful

USB-S

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To ban faucets from bitcoin, you need to ban all PTC sites from the internet and that really does not make sense.

TTMNewsMJ

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Why is it bad??

Kevin77

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Quote from: Kakmakr on October 29, 2015, 02:19:00 AM

Something that everyone might be missing with faucets is this. When newbies start out with Bitcoin, they do not trust the technology. They will be hesitant to drop their own money on something they know very little about. There are also so much negative reporting in the media, and this increase the uncertainty.

Faucets offer these newbies a risk free option to use none of their own money to experiment with Bitcoin. It makes adoption so much easier, if you can experiment with some else money. ^hmf^

Yes the part faucets playing with newcomer of bitcoin ecosystem is very much essential to make the bitcoin community to grow further. I believe that faucet earning are good enough to pay fees for my transactions. So, little is good instead of nothing earning over time.

Topic: In 2015, faucets are bad for bitcoin - page 18. (Read 25921 times)