I think to have bitcoin would be good in whatever way you get it, but you may get bitcoins much faster by working or other methods. I mean, it's not like facuets takes all of your time either - it's just a really slow method. you are selling your time for say 0.0001 BTC per day, which would be about 0.003 BTC per month. In a year you would get 0.036 BTC from a faucet. Given that bitcoin price would be at $1 million, this would be a lot of money- but I think the bitcoin price will go to 10.000$ or 100.000$, not 1 million.
Topic: Would faucets be worth it if you thought Bitcoin will reach $1-10 million? - page 3. (Read 2961 times)
August 01, 2014, 09:31:21 AM
August 01, 2014, 09:28:49 AM
Faucet's dust will never be worth 30$/h simply because bitcoin value won't reach 10 millions.
I believe in bitcoins, but that price is too unrealistic in my opinion, but I hope I'm wrong
I believe in bitcoins, but that price is too unrealistic in my opinion, but I hope I'm wrong
August 01, 2014, 09:23:35 AM
I think theyre just a good way for complete beginners to get involved, see what bitcoin is about, pickup some satoshis, get access to the blockchain and to read it - who knows what their future worth is, but if youre a bored student then claiming a few satoshi in your worst class might not be the worst idea in the world even.
August 01, 2014, 09:19:55 AM
What do you think? I know there isn't strictly speaking, a right or wrong answer for this question since it's really a matter of opinion, but it's still something to think about. Back in the early days, faucets gave out whole bitcoins per day. Now that the price of Bitcoin has skyrocketed, nobody would argue in retrospect that these faucets weren't worth using.
In one of their exchanges, Satoshi and Hal Finney discussed the maximum upper limit for the price of a single Bitcoin. Finney believed it was $10 million USD (or more specifically, the purchasing power of $10 million in 2009 US dollars):
Now, this is assuming that Bitcoin replaces the fiat currency of every single country in the world. I've also seen estimates of $1 million USD per Bitcoin if it manages to replace the fiat of a single large country or group of countries (e.g. the Eurozone), or $300,000 if it manages to attain a status equal to that of gold or silver.
So if you do the maths, a faucet like Freebitco.in pays out 300-400 satoshis per hour depending on the exchange rate. Most faucets pay a bit less than this, and some faucets might pay a bit more. But using the figure of 300 satoshis or 0.00000300 BTC, one gets the following calculation:
1 BTC = $10,000,000
10,000,000*0.00000300 = $30
So those 300 satoshis would be worth $30.
Or $30.00/hr
If you manage to complete 10 faucets an hour, then you would be making the equivalent of $300 per hour. Or roughly the equivalent of a team of surgeons or a single Fortune 500 CEO. If someone believes that Bitcoin will replace fiat, then it's hard to deny that getting the equivalent of a full-time job (or better yet, 10 full-time jobs) for doing essentially nothing isn't a good deal.
What do you think?
In one of their exchanges, Satoshi and Hal Finney discussed the maximum upper limit for the price of a single Bitcoin. Finney believed it was $10 million USD (or more specifically, the purchasing power of $10 million in 2009 US dollars):
Quote from: Hal Finney
As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million.
So the possibility of generating coins today with a few cents of compute time may be quite a good bet, with a payoff of something like 100 million to 1! Even if the odds of Bitcoin succeeding to this degree are slim, are they really 100 million to one against? Something to think about...
Hal
So the possibility of generating coins today with a few cents of compute time may be quite a good bet, with a payoff of something like 100 million to 1! Even if the odds of Bitcoin succeeding to this degree are slim, are they really 100 million to one against? Something to think about...
Hal
Now, this is assuming that Bitcoin replaces the fiat currency of every single country in the world. I've also seen estimates of $1 million USD per Bitcoin if it manages to replace the fiat of a single large country or group of countries (e.g. the Eurozone), or $300,000 if it manages to attain a status equal to that of gold or silver.
So if you do the maths, a faucet like Freebitco.in pays out 300-400 satoshis per hour depending on the exchange rate. Most faucets pay a bit less than this, and some faucets might pay a bit more. But using the figure of 300 satoshis or 0.00000300 BTC, one gets the following calculation:
1 BTC = $10,000,000
10,000,000*0.00000300 = $30
So those 300 satoshis would be worth $30.
Or $30.00/hr
If you manage to complete 10 faucets an hour, then you would be making the equivalent of $300 per hour. Or roughly the equivalent of a team of surgeons or a single Fortune 500 CEO. If someone believes that Bitcoin will replace fiat, then it's hard to deny that getting the equivalent of a full-time job (or better yet, 10 full-time jobs) for doing essentially nothing isn't a good deal.
What do you think?
Still no.
If bitcoin will one day be worth 10 million, you will definitely regret why you have spent your precious time on getting 300 satoshi an hour on a faucet instead of getting 60000 satoshi a post in PD sig campaign.
August 01, 2014, 05:56:05 AM
You'd still be better off getting a job and buying bitcoins with fiat in the same amount of time, unless you are somewhere in the world you literally earn 1c an hour
This is good advice. You're banking on bitcoin becoming worth a ridiculous amount which will probably never happen so you'd still be waisting your time. Find alternative ways to earn bitcoins or money then buy coins with the money you earned.
August 01, 2014, 05:47:57 AM
You'd still be better off getting a job and buying bitcoins with fiat in the same amount of time, unless you are somewhere in the world you literally earn 1c an hour
August 01, 2014, 05:46:17 AM
What do you think? I know there isn't strictly speaking, a right or wrong answer for this question since it's really a matter of opinion, but it's still something to think about. Back in the early days, faucets gave out whole bitcoins per day. Now that the price of Bitcoin has skyrocketed, nobody would argue in retrospect that these faucets weren't worth using.
In one of their exchanges, Satoshi and Hal Finney discussed the maximum upper limit for the price of a single Bitcoin. Finney believed it was $10 million USD (or more specifically, the purchasing power of $10 million in 2009 US dollars):
Now, this is assuming that Bitcoin replaces the fiat currency of every single country in the world. I've also seen estimates of $1 million USD per Bitcoin if it manages to replace the fiat of a single large country or group of countries (e.g. the Eurozone), or $300,000 if it manages to attain a status equal to that of gold or silver.
So if you do the maths, a faucet like Freebitco.in pays out 300-400 satoshis per hour depending on the exchange rate. Most faucets pay a bit less than this, and some faucets might pay a bit more. But using the figure of 300 satoshis or 0.00000300 BTC, one gets the following calculation:
1 BTC = $10,000,000
10,000,000*0.00000300 = $30
So those 300 satoshis would be worth $30.
Or $30.00/hr
If you manage to complete 10 faucets an hour, then you would be making the equivalent of $300 per hour. Or roughly the equivalent of a team of surgeons or a single Fortune 500 CEO. If someone believes that Bitcoin will replace fiat, then it's hard to deny that getting the equivalent of a full-time job (or better yet, 10 full-time jobs) for doing essentially nothing isn't a good deal.
What do you think?
In one of their exchanges, Satoshi and Hal Finney discussed the maximum upper limit for the price of a single Bitcoin. Finney believed it was $10 million USD (or more specifically, the purchasing power of $10 million in 2009 US dollars):
Quote from: Hal Finney
As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million.
So the possibility of generating coins today with a few cents of compute time may be quite a good bet, with a payoff of something like 100 million to 1! Even if the odds of Bitcoin succeeding to this degree are slim, are they really 100 million to one against? Something to think about...
Hal
So the possibility of generating coins today with a few cents of compute time may be quite a good bet, with a payoff of something like 100 million to 1! Even if the odds of Bitcoin succeeding to this degree are slim, are they really 100 million to one against? Something to think about...
Hal
Now, this is assuming that Bitcoin replaces the fiat currency of every single country in the world. I've also seen estimates of $1 million USD per Bitcoin if it manages to replace the fiat of a single large country or group of countries (e.g. the Eurozone), or $300,000 if it manages to attain a status equal to that of gold or silver.
So if you do the maths, a faucet like Freebitco.in pays out 300-400 satoshis per hour depending on the exchange rate. Most faucets pay a bit less than this, and some faucets might pay a bit more. But using the figure of 300 satoshis or 0.00000300 BTC, one gets the following calculation:
1 BTC = $10,000,000
10,000,000*0.00000300 = $30
So those 300 satoshis would be worth $30.
Or $30.00/hr
If you manage to complete 10 faucets an hour, then you would be making the equivalent of $300 per hour. Or roughly the equivalent of a team of surgeons or a single Fortune 500 CEO. If someone believes that Bitcoin will replace fiat, then it's hard to deny that getting the equivalent of a full-time job (or better yet, 10 full-time jobs) for doing essentially nothing isn't a good deal.
What do you think?
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