Topic: In 2015, faucets are bad for bitcoin - page 25. (Read 25980 times)

Pretty much considering that they need to visit the faucet maybe 20 to 30 times before they can claim its mostly free ads
In addition they might forget for a month or two and need to start all over if it resets
So pretty much a tiny revenue generator for its owner.

Yeah, you could make quite a bit if you're super super lucky 

Plus some faucets like mybitmine are becoming more like games rather than just pure faucets, so some of these are becoming more fun to mess around with. Why not entice new users with them

It's not about wasting time. It's kind of fun doing faucets liek freebitcoin. You roll and hope you get something other than the minimum. And when you do, you feel happy.

Just because it might not be the highest paying thing ever, doesn't make it bad for bitcoin.

Okay, how many of us whenever we joined the BTC-world started cause we saw you could get some of this new fangled BTC stuff and it was worth a buck or two if you managed to get a full BTC?

Yes, we're now (at time of this message) at about 290x-300x that single dollar evaluation, but for some newbie to get his first 5460 satoshi or god forbid 0.0001 to get their feet wet in the bitcoin world is not then, now or forever more a bad thing. The more acceptable and use of our Bitcoins the better it is for absolutely everyone, and puling up a way for that to happen after you've gone through would be wrong, not just for yourself, but for the cryptocurrency community as a whole.

In my experience, you might get 10-20 cents per week from a faucet. Even using your analogy, I would say that spending a week to get a coupon that saves you 10 or 20 cents is not a good use of your time.

That being said, I'm guilty of using faucets myself although I just stick with Freebitco.in these days. They might have some limited value for paying transaction fees if you manage to save up enough and withdraw all of it at once, but I still think they're a waste of time.


It's an interesting theoretical exercise but nobody really knows if Bitcoin will reach $1 million or not and the question of whether or not it's a good idea to use faucets is debatable even if you are fairly certain that the BTC price will reach stratospheric levels. I posted an old topic about this very subject almost a year ago and the responses I got were pretty interesting:

https://bitcointalksearch.org/topic/would-faucets-be-worth-it-if-you-thought-bitcoin-will-reach-1-10-million-720087

It's also unlikely that Bitcoin will be experiencing the same rate of growth that it had in 2009-2013. As I mentioned previously, going from a $4 million market cap to a $4 billion one is fairly easy. Going from a $4 billion market cap to a $4 trillion one is bloody hard. So you might have to wait decades before your 300 satoshis is enough to buy even a soda.

False. Those pennies could be worth hundreds of dollars if it's held onto for a long period of time. 1 -  10 bitcoins used to be given out by faucets when bitcoin was first released.

absolutely right. you can't be rich if your income from faucet
almost impossible, except if you have a ton of referrals
people using faucet usually to pay fees if want to send btc
so it's not a big deal at all

LOL, no people will be rich from faucet, faucet only gives a penny, with about 200-1000 sat once, once per hour.

Some people try faucets because they wanna accumulate a few btc to buy a little things or gamble, not to be rich, dude.

Nobody won't work and live in faucet money.

I think faucets are helpful for newbies. and also useful for people starting and need to test out sending/receive of bitcoins.

What are you using them for then? I'm sure you'd be able to make much more from a signature campaign as Jnr Member so you're probably wasting your time with them unless it's something you enjoy doing, but regardless of that you'd still be better doing something else with your time.

Well, I am having a ball with "faucets" 

Such a great way to make passive income and to test your creativity. {Example : I started with faucets and I grew a small referral network... now I have enough referrals to pay for my weekly advertizing costs}

I also give some coins back to my referral network... so they not only receive coins from the "faucet" but also from what I am giving back to them.

Some of these faucets have nice features to automate this, so I am doing nothing... just filling my adverticement account balance, from my income from the faucet.

Some of these faucets are a kickstarter to bigger things.... There are users, who used the faucet income to gamble, and from that, they have won jackpots to fund bigger projects.

Yes... 500 Satoshi per hour might not be worth it for some people.... but it's a beginning for others... Just create the opportunities and people will prosper. 

While I agree with this, we could also stretch it out to say that using coupons is a waste of time, that waiting for freebies is a waste, doing mail in rebates is a waste, etc. In all of these cases, you could be spending your time on something more valuable. The whole point is to have a relaxed method of earning (or saving), rather than doing "normal" work.

The value of what is received from faucets today may possibly be wroth more in the future, however you should not rely on the value of the bitcoin received from faucets increasing in the future when determining if it is a good idea to use a faucet, the reason for this being that you could invest your time in other ways to earn income and then use that income to purchase bitcoin on an exchange

i don't think any user will rely on faucets for too long. everyone will eventually realize that it is not worth the time spent.
and i totally agree with the dust problem, although the problem can be minimized by increasing the withdrawal limit in faucet payment handlers.

I play and withdraw from faucets all the time. Its neither bad nor good.  I doubt anyone seriously uses them as the rewards

I did the calculations and it's actually worse than I expected. A high paying faucet might give out 1,000 satoshis per hour. I know Freebitco.in gives out 600. If you used the faucet 8 hours per day, you would get 8,000 satoshis per day. Since 1 BTC is equal to 100 million satoshis, it would take 12,500 days (34 years) to make 1 BTC. By then, it's likely that the BTC price would be much higher than today so it's possible that you will never reach 1 BTC at all (since faucet payments tend to drop as the value of BTC rises).


The problem of dust withdrawals can be mitigated somewhat by using services such as Coinbox.me and Microwallet.org. You can visit a number of different faucet sites and wait until you have a significant amount of BTC which can then be transferred to your actual wallet. Earning enough from faucet sites to make 0.01 BTC would be hard, but 0.001 BTC could be possible.


If a faucet doesn't pay out despite promising that it would then I'd say it's dishonest and a scam - albeit a scam for pennies. While you don't actually lose any of your own money, you do waste your time solving captchas and clicking buttons and the faucet owner does get a tiny bit of money from ads. A faucet that does pay out, on the other hand, would not be a scam. Even if it only paid out tiny amounts (as long as the pay rates are displayed clearly on the site).

I've used faucets too, when I discovered BTC, but after a few weeks, I got serious and I bought BTC via an exchange. Today, BTC's much larger, and all newspapers and magazines have written stories about it, so someone discovering BTC can easily find tons of info about it. So in addition to my past arguments, faucets aren't needed anymore.

More than anything, if someone wants to experience BTC, he needs to buy some. Or do some work.

But that's not a scam. You know exactly how much you are receiving. There's no lie anywhere.

By definition its a week clicking nonstop with max ~8min intervals for minimum payout

Agree with what you say. Like a school that has levels. they may not immediately become a college student.they be surprised and hate. So all the needed process.Let beginners start of faucets