Newbie question regarding the usage of Bitcoin address on multiple faucets - page 2.

ethantaylor

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@Machine Funk,

Because some other members seem to think being tracked can result in privacy issues:

Quote from: ABCbits on April 07, 2017, 05:11:40 AM

Actually, you can use an address multiple times without real danger. But, people easily could track your bitcoin movement if you use your bitcoin address many times.

Quote from: Wusolini on April 07, 2017, 09:44:54 AM

Agree, the privacy reasons are more relevant for traders rather than faucet users.

The reason behind not recommending the single address for faucets is the "dust transactions" (a very small BTC payments). So after some time your BTC address would contain a lot of small transactions and when you decide to move them you will be surprised with a very high transaction fee. (this was issue in the past when most faucets were sending the payments directly to your wallet ... but using micropayment platforms like faucethub will minimize it).

You can safely use single address for faucethub (as the hub will unite your small rewards and send them to you in bigger chunks) ... still not optimal but better.

Machine Funk

member

Activity: 144

Merit: 10

Why don't you want people to trace the transactions ? You could set up a new wallet every week or every month for each faucett and do that. Then you would have many wallets and addresses making it much harder to track.

ethantaylor

full member

Activity: 280

Merit: 100

@Machine Funk,

But doesn't using the same address again and again make it easier for people to track your transactions?

@slikmov,

Thank you for the guide. Some info on your website might need updates though. For example, BitMiner has been pointed out to be a doubtful company so I wouldn't recommend it.

@everyone,

Could you please help checking if my understanding below is correct?

If I want to use a faucet which asks me to register on Faucethub.io and to link a Bitcoin address, the steps I will have to do are:
1. Get a Bitcoin address from Blockchain.info.
2. Use that address to register on Faucethub.io.
3. Submit that address to that faucet.
4. Forget about the address thing and keep using the same address on that faucet forever.

slikmov

newbie

Activity: 3

Merit: 0

i been using faucets for about 6 months now, they been working great. some have gone away but all have paid me..

to answer your question: Does "wallet address" mean Bitcoin address? Excuse me, but I don't understand the second sentence of yours. I found a page on a Bitcoin wiki that says reusing the same address is not recommended.

The bitcoin address is found in side your wallet. Login to your wallet: go to your receive payment and there they will give you a big number with letters. Thats your bitcoin address that you give out... Wallet address is what you use to login to your wallet..

there are new wallets you should look into. they hold multplal coins and they exchange it using changelly all in there for you. Also theres a great wallet that uses your email address to receive payments and its great with some faucets..

i keep my payment in the faucets until it reaches 40,000 to 500,000 satoshie. some faucets are faster then others but they pay. visit slikmov.com and tons of faucets and the wallets that you could use..

Machine Funk

member

Activity: 144

Merit: 10

You can use the same address for both faucets. No problems.

ethantaylor

full member

Activity: 280

Merit: 100

Can someone please answer my question at #15?

Quote from: btcdiggingmaster on April 08, 2017, 06:40:45 AM

Quote from: ethantaylor on April 07, 2017, 04:38:18 AM

Does "wallet address" mean Bitcoin address? Excuse me, but I don't understand the second sentence of yours. I found a page on a Bitcoin wiki that says reusing the same address is not recommended.

Off course right but if you secure your wallet perfectly then you can use your wallet address multiple times. Every time it is not possible for you to keep changing your wallet address continuously, in this case you will loose your earning.

Thank you.

btcdiggingmaster

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Activity: 644

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Transact Safer / Chase Better

Quote from: ethantaylor on April 07, 2017, 04:38:18 AM

Quote from: pacifista on April 07, 2017, 02:36:55 AM

You can use one wallet address into different faucets. If the first faucet is the same to the 2nd one you can generate another wallet on your blockchain wallet .

Does "wallet address" mean Bitcoin address? Excuse me, but I don't understand the second sentence of yours. I found a page on a Bitcoin wiki that says reusing the same address is not recommended.

Off course right but if you secure your wallet perfectly then you can use your wallet address multiple times. Every time it is not possible for you to keep changing your wallet address continuously, in this case you will loose your earning.

ethantaylor

full member

Activity: 280

Merit: 100

Quote from: Zz on April 08, 2017, 02:36:31 AM

A common payment point used by many faucets where they want to be a member. So you will be able to get a payment from one of the taps' hops using one address.
This is how the FaucetHub Micropayment Platforms work.

Thank you. Please allow me to confirm with you again because I'm really new when it comes to Bitcoin faucet. So if I want to use a faucet which asks me to register on Faucethub.io and link a Bitcoin address, the steps I have to do are:

1. Get a Bitcoin address from Blockchain.info.
2. Use that address to register on Faucethub.io.
3. Submit that address to that faucet.
4. Forget about the address thing and keep using the same address on that faucet forever.

Am I understanding it correctly?

Zz

legendary

Activity: 1820

Merit: 1077

A common payment point used by many faucets where they want to be a member. So you will be able to get a payment from one of the taps' hops using one address.
This is how the FaucetHub Micropayment Platforms work.

ethantaylor

full member

Activity: 280

Merit: 100

By the way, I'm encountering an issue cashing out the satoshis I earned from my first faucet. It keeps saying "Daily budget reached, try again later". And the emails I sent to its admin have gotten no reply. After searching for its information on the internet, I surprisingly found that its admin is one of the members at here.

I will ask him the question in his thread.

ethantaylor

full member

Activity: 280

Merit: 100

@pooya87,

Thank you. Regarding the high fee issue, my understanding might not be very accurate because I'm still quite new to this field, but faucet caches such as ePay.info or Faucethub.io have solved the high fee issue, haven't they?

pooya87

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Quote from: ethantaylor on April 07, 2017, 04:38:18 AM

Quote from: pacifista on April 07, 2017, 02:36:55 AM

You can use one wallet address into different faucets. If the first faucet is the same to the 2nd one you can generate another wallet on your blockchain wallet .

Does "wallet address" mean Bitcoin address? Excuse me, but I don't understand the second sentence of yours. I found a page on a Bitcoin wiki that says reusing the same address is not recommended.

read that page completely and you will understand what it means.
the privacy reasons are obvious ones.
about the security you have to know that when spending bitcoin you are spending the transactions you have received (UTXOs) and spending means cryptography signing the transaction with your private key.
as the wiki explains, there has been cases (fixed now) that could lead to finding the private key from the signature.

these are rare cases. what you will face is a high fee. when you receive a lot of payments by the time you want to spend 0.01BTC-0.1BTC you will end up paying a huge fee of 0.05BTC for example. because fee is calculated based on the size of tx in bytes https://en.bitcoin.it/wiki/Transaction_fees

ethantaylor

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Activity: 280

Merit: 100

Quote from: Wusolini on April 07, 2017, 03:48:48 PM

Quote from: ethantaylor on April 07, 2017, 10:42:17 AM

@Wusolini,

Thank you very much.

Since using the same address for Faucethub.io is still not optimal, what's the better way?

There is no better way, maybe you can raise the payout limit to 1mBTC and more (not sure if this is possible with facethub). Such amounts are reasonable to use (but it will take ages to earn it with faucets).

so the best advice is not to use faucets.
It's not worth using faucets ( unless you have bunch of referrals ) because with the hard earned satoshis you can't buy anything ( almost half of them you are going spend on transaction fees). Trust me, I've been there (would say most of users found the same sooner or later).
Faucets are good just to test your wallet is working, but no further. Find a better way to earn BTC like selling items you don't need, offer your skills ...

Thanks for your suggestion. Maybe I would give it up eventually...

Wusolini

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no need to carry heavy money bags anymore

Quote from: ethantaylor on April 07, 2017, 10:42:17 AM

@Wusolini,

Thank you very much.

Since using the same address for Faucethub.io is still not optimal, what's the better way?

There is no better way, maybe you can raise the payout limit to 1mBTC and more (not sure if this is possible with facethub). Such amounts are reasonable to use (but it will take ages to earn it with faucets).

so the best advice is not to use faucets.
It's not worth using faucets ( unless you have bunch of referrals ) because with the hard earned satoshis you can't buy anything ( almost half of them you are going spend on transaction fees). Trust me, I've been there (would say most of users found the same sooner or later).
Faucets are good just to test your wallet is working, but no further. Find a better way to earn BTC like selling items you don't need, offer your skills ...

Quote from: Digitalbitcoin on April 07, 2017, 02:08:52 PM

Using same bitcoin address for multiple faucet or multiple payment receiving option can be acceptable.

But the address which you have for receiving Bitcoins must have its private key too. And blockchain is only who provide private key for wallet service. But drawback of blockchain is it takes fees. Better to use coinbase top receive faucet payments. Coinbase don't charge fees on transactions.

Coinbase don't charge fees on transactions ONLY BETWEEN COINBASE ACCOUNTS. But when sending out you are charged with standard fee.

Digitalbitcoin

hero member

Activity: 1568

Merit: 502

Using same bitcoin address for multiple faucet or multiple payment receiving option can be acceptable.

But the address which you have for receiving Bitcoins must have its private key too. And blockchain is only who provide private key for wallet service. But drawback of blockchain is it takes fees. Better to use coinbase top receive faucet payments. Coinbase don't charge fees on transactions.

ethantaylor

full member

Activity: 280

Merit: 100

@Wusolini,

Thank you very much.

Since using the same address for Faucethub.io is still not optimal, what's the better way?

Wusolini

legendary

Activity: 1190

Merit: 1000

no need to carry heavy money bags anymore

Quote from: ethantaylor on April 07, 2017, 07:01:29 AM

Quote from: ABCbits on April 07, 2017, 05:11:40 AM

Actually, you can use an address multiple times without real danger. But, people easily could track your bitcoin movement if you use your bitcoin address many times.

Thank you. I just tried to get a new Bitcoin address from Blockchain.info, but Blockchain.info "generated" the same Bitcoin address for me. Is that because that Bitcoin address haven't been used by my first Bitcoin faucet for paying me (because I haven't been able to cash out)?

Yes, the wallet (blockchain.info) will offer you this address until it receive first transaction ... but still you can generate a new one ( in settings/addresses/manage ... you can generate as many as you wish).

Quote from: ABCbits on April 07, 2017, 05:11:40 AM

Quote from: ethantaylor on April 07, 2017, 04:38:18 AM

Quote from: pacifista on April 07, 2017, 02:36:55 AM

You can use one wallet address into different faucets. If the first faucet is the same to the 2nd one you can generate another wallet on your blockchain wallet

.

Does "wallet address" mean Bitcoin address? Excuse me, but I don't understand the second sentence of yours. I found

a page on a Bitcoin wiki that says reusing the same address is not recommended.

Actually, you can use an address multiple times without real danger. But, people easily could track your bitcoin movement if you use your bitcoin address many

times.

Agree, the privacy reasons are more relevant for traders rather than faucet users.

The reason behind not recommending the single address for faucets is the "dust transactions" (a very small BTC payments). So after some time your BTC address would contain a lot of small transactions and when you decide to move them you will be surprised with a very high transaction fee. (this was issue in the past when most faucets were sending the payments directly to your wallet ... but using micropayment platforms like faucethub will minimize it).

You can safely use single address for faucethub (as the hub will unite your small rewards and send them to you in bigger chunks) ... still not optimal but better.

ethantaylor

full member

Activity: 280

Merit: 100

Quote from: ABCbits on April 07, 2017, 05:11:40 AM

Actually, you can use an address multiple times without real danger. But, people easily could track your bitcoin movement if you use your bitcoin address many times.

Thank you. I just tried to get a new Bitcoin address from Blockchain.info, but Blockchain.info "generated" the same Bitcoin address for me. Is that because that Bitcoin address haven't been used by my first Bitcoin faucet for paying me (because I haven't been able to cash out)?

ABCbits

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Crypto Swap Exchange

Quote from: ethantaylor on April 07, 2017, 04:38:18 AM

Quote from: pacifista on April 07, 2017, 02:36:55 AM

You can use one wallet address into different faucets. If the first faucet is the same to the 2nd one you can generate another wallet on your blockchain wallet .

Does "wallet address" mean Bitcoin address? Excuse me, but I don't understand the second sentence of yours. I found a page on a Bitcoin wiki that says reusing the same address is not recommended.

Actually, you can use an address multiple times without real danger. But, people easily could track your bitcoin movement if you use your bitcoin address many times.

ethantaylor

full member

Activity: 280

Merit: 100

Quote from: pacifista on April 07, 2017, 02:36:55 AM

You can use one wallet address into different faucets. If the first faucet is the same to the 2nd one you can generate another wallet on your blockchain wallet .

Does "wallet address" mean Bitcoin address? Excuse me, but I don't understand the second sentence of yours. I found a page on a Bitcoin wiki that says reusing the same address is not recommended.

Topic: Newbie question regarding the usage of Bitcoin address on multiple faucets - page 2. (Read 4165 times)