Topic: Would faucets be worth it if you thought Bitcoin will reach $1-10 million? - page 2. (Read 2937 times)

This is useless mental masturbation
Even if you believed that, faucets are a waste of time as you would be better off getting a good job and converting a fixed % of your take into btc every month

If you are a newbie, a faucet might help get you introduced to bitcoins.
But otherwise, I just think they are a waste of time.

This is probably the best post in this that summarizes why faucets are bad.

I'd buy Bitcoins with money from a minimum-wage job as opposed to using faucets.

None of this faucet slaving stuff, it's not viable for much. Just good for literal experimentation.

Continuing to work and investing in bitcoins would be a lot more better than faucets in my opinion. Faucetting and hoping that bitcoin will keep raising in price is just assumption and to be fair doing things on assumption never really works out.

I think OP meant that if we use faucet now, will we be wasting our time, not in the future.
I don't think it is really profitable even if it really reach that high. Even a simple low paying signature campaign can pay far more than that. It isn't possible for BTC to reach that value. In order for that to happen, we have to first stop Money laundering and Terrorist Financing. That is necessary since large adoption is required for that to happen. Government cannot allow BTC to become a legal tender because you can launder money and use it for terrorist financing. We must also convince people that BTC is more convenient than cold hard cash which cannot happen as you need a internet connection. People also think that BTC have security flaws, thus avoiding them.

i think there is no more faucet if we reach that

No as you'd make more selling services!

I don't think you can complete the whole process (going to freebitco.in, login your account, enter the captcha) in just a second.
It probably takes you like 10-20 seconds for just 1 site.

While there are dozens of faucets out there, most of them pays just a fraction of 100 satoshi per claim.

You would probably be scolded by the McDonalds manager for stop working 5 minutes every hour.

Usually in the time it takes me to get through most the faucets, I could have earned a few bucks on mturk already. Even a simple receipt hit for 5 cents can be done in 30 seconds, vs a faucet which maybe what? .001?

Yeah, not worth holding faucet btc in hope it keeps going up for the next 30 years...

Still better to spend time elsewhere to earn and buy coin directly.

Hitting the faucet takes less than a second.  Sure, I can only go to freebitco.in once an hour, but I've spent a total of 2 mouse clicks of time in that hour.  How many faucets are there?  I really don't know the answer to that question, so I'm hoping someone can give a number.  Is there only 1?  Are there 10?  100?  Let's just say there are 10.  Now, I'm making 3000 Satoshi for about 10 seconds of my time per hour.

I'm pretty sure I can spare 10 seconds an hour... heck, I could even do that while wandering around collecting cans after I finished my shift at McDonalds .

Thats right sadly, faucets are waste of time

Unless the exchange rate shot up to the millions within a day of you participating in the faucet, the answer is a very clear, "No."


If you're talking about the fiscal value of the time and effort, then it really isn't a matter of opinion.  The math is plain and simple, and it is clear that there are very few (if any) situations where faucets make any fiscal sense to participate in at all.

Now, if you take some odd pleasure from participating in faucets, then opinion comes into play, since only you can determine how much that pleasure is worth to you.


That was in the VERY early days when dust sized transactions with no fees would be quickly and easily confirmed.  Also during that time, it was much more difficult to acquire bitcoins in any other way (none of localbitcoins, bitstamp, btc-e, coinbase, bitsimple, etc existed).  Therefore your only three real choices were to either figure out how to mine the bitcoins, figure out how to participate in bitcoin-otc, or try a faucet.

Even then, if you had the technical know-how to participate in any of the available methods of mining or purchasing bitcoins, then those faucets that were giving away 1+ bitcoins still weren't worth it fiscally.


I think you are forgetting to compare your faucet option to the available alternatives.

3000 satoshis per hour is about $0.018 per hour or $0.43 per day if you could keep it up 24 hours a day continuously without interruption.

If you spent those same 24 hours a day collecting recyclable trash from the parks, roads, and neighborhoods  and sold it all to a recycling center, you'd earn more than $0.43 per day (heck you'd probably discover more than $0.43 per day in actual loose change on the ground in many areas).

You could then use that money that you acquired from your activities (and I'll bet you can find an activity somewhere that will pay more than $0.43 per day) to purchase bitcoins directly.  This would result in acquiring MORE THAN 3000 satoshis per day.  So the time you are wasting on faucets is costing you future profitability.

Imagine you could manage to find a way to earn $1 per day if you just didn't waste all your time on faucets.  Next imagine that the bitcoin exchange rate eventually reaches your predicted 10,000,000 per bitcoin.

This means that spending time on faucets is costing you $397.67 per hour.

Do you really get enough pleasure out of the faucet process to justify paying $397.67 per hour out of your own future pocket, just so you can participate?

It's important to consider that it would be quite hard to have the balls to hold until a Bitcoin is worth 1M$. This would take many years; will you truly be able to hold when it's worth 100x of what it's worth now at 60000$? And if you can't, at that price the current faucet output would still give quite less than the minimum wage.

Even smart people make mistakes.

Think about it. Your wealth includes your house and car (assuming you own them). There are no dollars (or euros or yen) sitting in an account anywhere that represent the values of those assets.

Are you sure about that? Hal Finney is a pretty well-known person. He even has his own Wikipedia article. Although his specialty is in cryptography and computer science rather than economics.

I agree.

Faucets are a waste of time. You are much better off buying $100 worth today than clicking on faucets for a year.

It's a bit ironic for you to say that considering that you don't have a PD sig.

OP seems to have a PD sig already.

The future bitcoin price doesn't really matter here.
If you can get ~0.01 btc an hour for working in McDonalds or you can get ~0.0001 an hour from faucet sites, no matter how high the bitcoin price will be, you will always be better off with working in McDonalds.