In 2015, faucets are bad for bitcoin - page 28.

jeffhuys

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Quote from: gadman2 on March 07, 2015, 01:20:05 PM

Faucets give people bitcoin to experiment with.

This is everything that needs to be said. When I first started, did I get thousands of bitcoin? No. I got 0.0001, and immediately gambled it every time. One time, I won 0.01, and that was the start of my "bitcoin career". I got it up to 0.74 or something before "investing" in f'n LABCOIN. I quit bitcoin around then, I was too pissed off. Now I'm back again. Hi!

futureofbitcoin

sr. member

Activity: 322

Merit: 250

Quote from: countryfree on March 08, 2015, 06:34:56 PM

There may be something even worse than faucets, and that's signature campaigns below posts on this forum. I'm using them, so I can't criticize much, but it's sad to see people writing new posts obviously without reading what's been said already.

Anyway, my case is solid. I gave 2 arguments why faucets are bad for BTC, and nobody so far have proved them wrong.

LOL. You have no idea what an argument is. You have no case at all, since you gave no argument. All you said was that faucets only give a very small amount of bitcoins.

How does that invalidate faucets in any way? We might as well get rid of all minimum wage jobs, since these people earn a lot less than CEOs and Bankers.

You have not logically shown how facuets are bad for bitcoin (and they aren't), thus you don't have an argument. Try again.

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Faucets are not bad, imho, because they give option to newcomers that never has a chance to deal with bitcoin to explore how its like.
They're not hurting BTC reputation, since anyone who tries out faucet will see its dust money, and it isnt giving away money for free.

U can do the same with fiat, placing a faucet that gives away fiat money, and manage to finance the site with ad revenue, would it hurt fiat if u did that ? i think not.
(actually u cant do that because minimum send is 0,01 when dealing with fiat , btc wins with k.o. again)

cheers

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: countryfree on March 08, 2015, 06:34:56 PM

There may be something even worse than faucets, and that's signature campaigns below posts on this forum. I'm using them, so I can't criticize much, but it's sad to see people writing new posts obviously without reading what's been said already.

Anyway, my case is solid. I gave 2 arguments why faucets are bad for BTC, and nobody so far have proved them wrong.

The signature campaigns wouldn't be an issue if the people running them would actually evaluate posts. Instead, they promote this idea that everyone should spam as much as possible to earn the most they can.

What they should be doing is:

1) Evaluating posts for quality
2) Removing low-quality posts from the payouts
3) Increasing pay for legitimate posts

This would boost forum post quality, increase earnings for those that aren't abusing the system, and still result in savings for whoever is running the campaigns.

The sad part is nobody wants to do this, and the forums are degrading more and more daily because of it.

countryfree

legendary

Activity: 3066

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Your country may be your worst enemy

There may be something even worse than faucets, and that's signature campaigns below posts on this forum. I'm using them, so I can't criticize much, but it's sad to see people writing new posts obviously without reading what's been said already.

Anyway, my case is solid. I gave 2 arguments why faucets are bad for BTC, and nobody so far have proved them wrong.

galbros

legendary

Activity: 1022

Merit: 1000

I think faucets are even more important now. New users need some bitcoins to experiment with and encourage them to learn about how to use it. Early on they could get some coins by mining but now that is impossible.

It is unfortunate that bots can exploit the faucets as I think they help our community grow.

calci

full member

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www.secondstrade.com - 190% return Binary option

Quote from: futureofbitcoin on March 08, 2015, 05:55:22 AM

Quote from: ?? on ??

Faucet is not worth time & enegry, but it needed to introduce newbie to understand bitcoin
But, after they realize faucet is not worth. They would search better way to earn bitcoin like gambling with faucet / do signature campaign

I think only owner of faucet & miner are the one who get profit from faucet

gambling is not a good way to earn anything. I agree faucets are not worth the time for people in developed nations, but it doesn't make it bad for bitcoin

Yes its definitely not bad. Its rather good for people who are new to bitcoin, and want just small amounts to play around with bitcoin and try it out.

calci

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Activity: 168

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www.secondstrade.com - 190% return Binary option

Quote from: futureofbitcoin on March 08, 2015, 05:55:22 AM

Quote from: ?? on ??

Faucet is not worth time & enegry, but it needed to introduce newbie to understand bitcoin
But, after they realize faucet is not worth. They would search better way to earn bitcoin like gambling with faucet / do signature campaign

I think only owner of faucet & miner are the one who get profit from faucet

gambling is not a good way to earn anything. I agree faucets are not worth the time for people in developed nations, but it doesn't make it bad for bitcoin

Yes its definitely not bad. Its rather good for people who are new to bitcoin, and want just small amounts to play around with bitcoin and try it out.

suman66

full member

Activity: 210

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faucets like moonbitcoin or 777bitcoin are earning very large amount daily simple they are 10 btc per day

but their is no reason that faucets are bad effect to the price of bitcoins but they are giving some money to the new user who want to earn some free bitcoins

futureofbitcoin

sr. member

Activity: 322

Merit: 250

Quote from: ?? on ??

Faucet is not worth time & enegry, but it needed to introduce newbie to understand bitcoin
But, after they realize faucet is not worth. They would search better way to earn bitcoin like gambling with faucet / do signature campaign

I think only owner of faucet & miner are the one who get profit from faucet

gambling is not a good way to earn anything. I agree faucets are not worth the time for people in developed nations, but it doesn't make it bad for bitcoin

futureofbitcoin

sr. member

Activity: 322

Merit: 250

What exactly is the damage faucets do? All you've shown is your dislike for faucets, which is fair, but you haven't given any convincing reason of why or how it's bad for bitcoin. It isn't.

countryfree

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Activity: 3066

Merit: 1047

Your country may be your worst enemy

Quote from: gadman2 on March 07, 2015, 01:20:05 PM

Faucets give people bitcoin to experiment with.

No. Not anymore. You don't experiment BTC with faucets. You experiment faucets. Nothing else.

Check this:
https://blockchain.info/address/1JQ82D4k5e7ciiLtUKX4Rkgbuwuqdqnqhc

That was more than 2 years ago, and that was real. The guy was giving away more than one BTC a day. Today, one faucet will only give its users a few satoshis. So few that they won't be able to transfer it to their own wallet, because the sum is below the minimum allowed for a transfer. So a newbie will have to stick using faucets for several days to get above that, only to discover that the fee to transfer all that dust will eat it entirely. Is this a nice way to learn about BTC?

Faucets were certainly useful, maybe up to 2013, but now, they should close for BTC'sake.

jacktheking

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Quote from: Q7 on March 08, 2015, 03:51:57 AM

Quote

Faucets are hurting bitcoin by making some people believing you can get it while doing nothing sitting in your home.

Well initially it might give the wrong impression but soon enough the person will realize that they are not making anything at all because it is merely there for them to try out how the system works. For example whatever dust payment earned, a large portion will eventually gets returned back to the network and they will realize what they have done so far leads to nothing. Time for them to buy if they think they are now convinced in the system. Depends on how you look at it.

Agree. At first, people might thought that faucets can make them a living. However, as time goes by.. they know what a 'faucet' really is. I'm one of those who still use faucets despite they give me 'dust' money.

Q7

sr. member

Activity: 448

Merit: 250

Quote

Faucets are hurting bitcoin by making some people believing you can get it while doing nothing sitting in your home.

Well initially it might give the wrong impression but soon enough the person will realize that they are not making anything at all because it is merely there for them to try out how the system works. For example whatever dust payment earned, a large portion will eventually gets returned back to the network and they will realize what they have done so far leads to nothing. Time for them to buy if they think they are now convinced in the system. Depends on how you look at it.

sakira

hero member

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faucet only to the person who first introduced bitcoin. My experience when I first played bitcoin yes rely faucet, but the result is not much. and the longer my knowledge increased, I finally left the faucet

chmod755

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

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.

It's not really worth visiting those faucets now. Better find some small tasks to earn BTC

(I was operating a bitcoin faucet in early 2013)

Fernandez

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Merit: 1000

Its neither bad nor good. Some farm them trying to earn something while the owners make some ad money. I doubt anyone serious uses them as the rewards are pathetic.

Nerazzura

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Activity: 378

Merit: 250

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

not everyone can immediately understand bitcoin. everything gradually .and there are degrees respectively. with faucet at least they could be encouraged.

ranlo

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Quote from: Berau on March 07, 2015, 09:22:41 PM

Quote from: coinableS on March 07, 2015, 08:41:39 PM

Quote from: Berau on March 07, 2015, 08:24:17 PM

Quote from: ranlo on March 07, 2015, 07:49:00 PM

Quote from: Berau on March 07, 2015, 06:45:00 PM

Quote from: coinableS on March 07, 2015, 05:30:01 PM

I have to agree with OP. I dislike faucets, they don't help the bitcoin ecosystem at all. They're just a haven for ads and captchas so the website owner can try to make a few bucks on advertising. "click this button once every hour and you might make 10 cents if you do it every hour, 24 hours a day for few weeks". What a joke.

Beginners will happily do that. Who would risk money into something that isn't guaranteed by anyone and with a entirely new concept?

And may I ask why it doesn't help the bitcoin ecosystem? IMO it attracts more people into the bitcoin system, and it rewards the faucet owners.

As a side note, it also directly benefits the miners, by offering more transactions and fees, which leads to stronger incentives to mine.

Exactly, faucets are a part of the bitcoin ecosystem.

I doubt anyone would join if we take this facility away. And that results in bitcoin prices dropping, and miners dumping their coins.

Respectfully, I disagree. The price would not be affected at all if faucets went away. I got started by buying $20 worth and playing with it, not a very risky investment. However, in favor of your argument, I can see how faucets can attract more people to the bitcoin ecosystem. No one has ever heard of playing a game and getting free money in return until bitcoin faucets came around... So I retract my statement that they offer nothing, but they don't offer much IMO.

Problem is first time people don't want to buy. They would rather spend their time in front of a computer screen than going to the bank.

But I respect your opinion, as you respect mine.

This is because to a lot of people, Bitcoin is still "funny money" or "Internet money." I know a lot of people that are familiar with it and have been since 2013, yet nearly every one of them uses Bitcoin as a joke, making remarks all the time about how it's a scam, it's a ponzi, etc. For people like this, getting in for free gives that "feel" that they aren't risking anything (though we could argue that time is money).

rayhan

sr. member

Activity: 378

Merit: 250

be your self

faucet just worth for newbie in bitcoin world i think. but not a few people who have long know bitcoin still play faucet too

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