Bitcoin Forum

So I recently received an email from freebitco.in faucet that are now offering an annual investment for their user.
It promises a 4.08% of annual interest with a minimum of 30k satoshi to be able to participate.

What do you guys think about this?

This is the actual email from them:

I have my doubts about the real reasons of this, but it doesn't sound like a bad offer. It's coming from a long running and the most popular Bitcoin related site, so that gives it some sort of credibility to start with.

I personally won't make use of such offers as I at all times want to remain in full control of my coins. But I am fairly sure that there are enough people willing to store their coins there for 4% per year.

I just wonder, no one gives out free money just like that ~ Is this to fund their dice game bank roll? Or am I missing something here? They must be using people's money in one way or another. That's what I am curious about.

Huge advantage is that you can liquidate your investment there whenever you want. Great advantage.

i think i read on their site the first time i received the email that it was for their mining operation. and there is actually a signature from a bitcoin address that they received the mining rewards in. and if you follow the transactions backwards you can see it coming from newly generated coins (that doesn't prove much though they could have bought them!)

p.s. i am with you with not trusting anyone with my coins and i'll never do it for such a small profit either.

Big time doubts, too high rate and no explanation what will they do with the money.

It is just next level for this service. @wetsuit - owner of freebitco.in - explain that they already opened own Bitcoin farm, and in that way they will cover costs of users annual earnings.
From long time he build reputation in Bitcoin community, so I don't see reason to not trust him, but of course everyone have take own decision about investment like this.
In my opinion 4.08 % for cryptocurrencies is not much, so i will not take this service as good investment or even saving method.

Edit: You can read more about that here: https://bitcointalk.org/index.php?topic=320959.msg18109501#msg18109501

4% annually is very low. It'd be better to invest in a casino's house at this point.
It's not really a bad thing though, feels like a bank.

Dice bankroll I assume.

I've suspended my withdrawals from the website and let it earn interest until the end of the year, and maybe start promoting again to gain some more referrals.

I see the first effects of this idea ^^  ;D
Is not that clever? People wanting to save Bitcoin and earn Bitcoin (this annual 4.08%) deposit them in gambling service! He is genius!

did you even read the email or the website. it's very clearly explained.

Even though their services are legit and It's probably the longest running faucet that exists, I wouldn't take such a risk and this could even be seen as a red flag, you should think of all scenarios.

I agree, there could be many reasons for this that are not clear at first, the hope is that users of the faucet will just leave their coins there long term.  4% is not bad in banking terms but in the crypto world there are other ways to get a larger return.

I would suggest caution.

Which other ways to get a larger return?

Investing in one of the gambling sites or investing in altcoins would provide a better rate, of course everything is a gamble but I would rather invest in some altcoins then wait a year in the hope that my money is still there for a 4% return.

I think it's not an Annual investment may be it's just another additional source of profit.
because all the money in my account is from roll and REFERRALS
That's my opinion.  :D 

Yes, those are a gamble and require a lot more study and work than just let your coins sit there while you do nothing...

Don't get me wrong, I do trade altcoins and invested in casino bankrolls in the past. :)

What are you talking about?
It doesn't matter if Bitcoin in your Freebitco.in wallet is from faucet, referrals or from deposit.
The only condition to receive 4.08% annual profit is keep in wallet more than 30k satoshi, nothing more.

So where is the catch? How freebitco.in will earn from this? Will they use the money to invest, fuel their own faucets, bankroll or something else?
If I invest 1 Million Satoshi in this investment after a year I should get 1041641.38 Satoshis, is that right?
Calculated if we have principal amount = 1000000, annual rate = 4.08% and we have 365 compounds per year.

Why 1041641.38 Satoshis? If you invest 0.01000000 BTC and keep it 365 days, in your wallet will be 0.01048000 BTC
I don't know if there is any catch, but for sure question how they want use deposited money is very good!
I ask this question in his main thread:
https://bitcointalk.org/index.php?topic=320959.msg18294644#msg18294644

This has been discussed several time in many other threads here. 4% is nothing compared to risk you have to bear in putting your bitcoin in their online wallet which is comparatively insecure than other traditional online wallets and you will also not have complete control over your bitcoins.

It's very hard to think that a faucet site will surely retain its fame for the long time and 1 year i quitely to far to be happen and surely we cannot assure that we can get some profits if dividends happen. And if they are giving only 4% per annum roi per year to us i also think its truly better or shall i call best if we invest on banks while they are giving 8% per 2 years payout with plus additional income from dividends, Just inquire to BDO i believe theirs a bank near you to clarify that.

It seems to me that Bitcointalk is not the best place to advertise bank services :)
Anyway, income from deposited Bitcoins on Freebitco.in is added to the balance everyday, so you don't have to keep your money all year. You can withdraw funds in any moment with earned BTC.

Freebitco.in is only faucet i still visit and in my opinion, it is best faucet ever. This daily interest they are paying is not big thing for it self, but it is great to see new options on site. I trust them with my pocket money so i will start to hoard dust there and earn that interest LOL.

Yes they are using those deposited bitcoin as bankroll for their dice game which have 5% house edge which pretty much make sure they will be in profit. And recently they have also announced , they will be opening mining farms and to build it they will be using those deposited bitcoins. I am actually concerned about how secure their wallet is.

actually there is an explanation on the site if you checked it out. and someone even explained it above your comment :)
https://i.imgur.com/Cgugb23.jpg

now lets talk about whether it is a Ponzi scheme or if it is going to be the run away plan.

I don't say it is fully ponzi scheme, but in any case site owner faces significant losses from these bitcoin mining businesses then anything can happen. So your coins or investments are at high risk on these kinds of sites. Until now they are paying on time for all their faucet users, but at the same time, they never explained how they are picking up the lottery winners even those many times people request on this forum. It shows that they are not entirely honest in doing business, so your investments are always at high risk.

It is not Ponzi scheme. @wetsuit show in public their Bitcoin mining address, their power and pools where they are mining.
You can read about that in Freebitco.in main thread:
https://bitcointalk.org/index.php?topic=320959.msg18109501#msg18109501

Yeah it is not a Ponzi scheme but all your investment is at a high risk because freebitco.in can turn back a scam if it receive many deposit, and i think why freebitco.in add a new way like mining is to attract more investor, Anyways Goodluck..... :)

this is one of the oldest faucet site which is still exist untill now and i think a lot of people here had been visited this site and claiming the faucet and aiming the new feature is to get investor at there but with annual profit i'm pretty sure people will not too interested because usually for investment options people more likely to choose daily or monthly profit

Maybe the mining farm that they say is the sign that freebitco.in will scam people soon and how could a site offer such  long time profit while they cannot give any strong facts that they can sustain their site for such a long time, 1 year waiting is to much for unsure situation and surely if we will used our bitcoin properly we will gonna earn double from it in 1 year time span. But for now i will just stay away from them since i don't see any legalities from them.

IDK what you are talking about.  Annual interest is at 4.08%, but 0.0109589% is calculated every day and you get that in your account first day you have more than 30K sats in your main account.

Yes, they could show us their mining farm pictures. But I must say their site is working fine since some years ago and never scammed anyone. Also you don't need to let your money there for one year, the interest is paid daily and you can withdraw it anytime.

You could try to double your BTCs in one year, but I think it's too risk, as all legit investments don't offer much interest percentage. With gambling the risk is high also.

it's paying daily and it's compounding. your math does not really apply here. you're earning much more than linear 4% per year

I don't think it will be, it's actually not an unusual rate at all.  For example, bankrolling good Bitcoin casinos can sometimes earn upwards of 30% per year.  The difference is that they're guaranteeing this rate and that's the only thing which anyone should find strange.

To be honest I am quite doubt, the sites itself is quite popular site and got a lot of player, most of the bitcointalk forum member even played in that sites, but the site review is quite bad and to risk my money for 4% a year, it is a bit too low and too much risk

i've got email from them too and i think its good for the member but the rewards is too low at least we can still make profit from investing with them. as long as our fund is safe then i think its worth to try as we know freebitcoin is the old site that still legit until now and they are really makes their member satisfy with their service especially with the faucet.

It depends on where these 'bad' reviews are pointed at since freebitco.in has a wider field of options that they offer people. Mind sharing a link to the reviews you were reading?

I have been reading through their explanation of why they need the funds, and I must say that it's quite doubtful. They use people's funds, but still guarantee that they can withdraw their coins at any time.

That's what I consider to be a weird thing. It's not for nothing that they ask for people to fund their. If the funds are in use, it means that not everyone will be able to cash out. Especially not when it comes to the largest funders.

Yeah I received that too, but its only useful for people who keep large amounts of BTC on the site for gambling only then it's somewhat profitable. For 30k satoshi its really worthless, 4.08% would be 1.2k sats in ONE year if you just use the faucet there everyday for 1 year you would have 50 times that lol.

Well Wetsuit did explain that they are channelling money from their Bitcoin mining project to cover this interest. He is using your money to buy

more miners. I think it is a brilliant idea to draw more people to his site. I am going to try it out and use the interest to gamble on the site. No

need to use the faucet, if you getting daily income from the interest on your money.   8)

Although I also have doubts concerning this new service that is being offered by Freebitco.in but in all sincerity, if there is any faucet site that have stand the test of time, freebitco.in is one but I really try to understand the rationale behind it which is the fact that they have low patronage and its because of the satoshi you get when you roll every hour due to the increase in the price of bitcoin so in other to encourage people then you just invest...

%4 is nothing near big and it certainly isn't worth taking the risk. No matter how reputable the freebitco.in owner is, accidents do happen from time to time. To remind you; Mt.Gox used to be a reputable exchange too, until they ain't.

 I would rather have my bitcoins in my own local wallet.

It's of course always better to store your coins locally, but people have been shouting about them wanting a Bitcoin bank just because of the interest it would offer over their coins. This basically wipes out the need for such a "bank" as people can get their so loved interest here. In the world of crypto 4% is nothing in terms of annual returns, but it doesn't require people to do anything -- it's all passive. Whether or not it's completely trustworthy, that remains to be seen. People must be aware of the risks they expose themselves to.

The rate is realistic. The only other rates we've seen have been 10% a day high-yield investment plan scams. A 4% interest rate is very sustainable.

As for how they'll use the money, they've provided very specific explanation on their website.

This is the explanation directly from their website:


I transferred some coin over to them to try out their offer. I've had zero trouble. They've paid me every day since deposit as promised. The payments are made at random times each day. They track your estimated daily, 7 day, and 30 day and 365 day interest payment. They track your interest earned. And they shows 7 days of history of interest payments.

They have a lot more to lose than they do to gain if they cheat us. Give it a shot!

the rate is quite reasonable, and they got pretty famous name for a faucet site, but I still not really 100% trusting my investing in the site, maybe when more people give their testimonial then I will consider for investing, for now I still doubt to invest in the site

Hahaha, so you'd be willing to risk your hard earned BTC if the interest rate is bigger? They have a name for those programs - high-yield investment plans - most of them were ponzi schemes.

The thing that makes this offer legit is the fact that they aren't offering a big rate of return, which is totally unrealistic. The high-yield investments were completely unsustainable because they "promised" a high rate of return!

Well i don't understand why are people busting their ass off for a %1/month or %4/year profit at all. You can easily make 5%-10% in a month if you have the patience. Not me. I am retarded. If you check my earlier posts, you'll see that i knew the 1270bubble and i knew the 950bottom before everything is started (ETF decision) yet i'm out with %3 fucking loss.

Fuck it, i'll try again properly when the next bubble makes its appearance.

More to add: And freebitco.in's %4/Year interest rate doesn't mean shit if bitcoin's price don't move or move negatively. So it's definitely a shit idea. Trading or Holding is much better.

No, you are not. You are earning exactly what it says - 4.08% annual.

You can use this calculator https://dicesites.com/tools if you don't believe me. It is pretty much accurate - just put 1BTC base bet, balance 1000, multiply on loss 1.000109589, bet payout 1 and just look at bet amount.
It will show your earnings.

 

I think it´s reallistic value, and and site with some reputation. If people are looking for risk free investment, there is no such thing. If people want to use the site with lesser risk just claim the faucet and withdraw. For me it can be another way to diversify.

What's busting their ass off? You don't have to do anything...just leave your coins in their account and earn your 4%, compared to 0% in any other wallet.

Where are you getting 5-10% in a month? Are you talking about trading? Trading comes with a lot of risk, in the general terms of the banking market (not the bitcoin market), this 4% is  the risk-free rate.

And actually the 4% interest means THE MOST if Bitcoin's price "don't move". If it's not moving the interest is the only gain you're making. How can you say "trading or holding is much better" when those things are literally opposite?

Your thought process is lacking something.

The difference here is, with MtGox you could buy a plane ticket and go protest in front of MtGox's offices and wait for Mark to show his face and publicly shame him for stealing your money. The people behind Freebitco.in is 100% anonymous, so if something goes wrong, you will not be able to face them.

If this was not Bitcoin, would you still invest in a company with 100% anonymity?  ^hmmmmmmm^

Not entirely anonymous. Bitcointalk.org member Wetsuit is regularly present and answering questions about developments with Freebitco.in. He speaks as if s/he is the owner or representative, although his username and profile information don't explicitly say so.

Here's his profile: https://bitcointalk.org/index.php?action=profile;u=154142 (https://bitcointalk.org/index.php?action=profile;u=154142)

Here's the Freebitco.in thread he started and frequently posts on: https://bitcointalk.org/index.php?topic=319540.0 (https://bitcointalk.org/index.php?topic=319540.0)

Yes, If i were to take risks, i would take them with trading. That 4%/year from freebitco.in isnt risk free. Don't spit out wrong information.

And yes if bitcoin's don't move; you'll only get %4/year. I don't call that a big profit. It might be enough for some people.

If you hold bitcoins and wait them to grow, lets say you made %30 profits by doing so, what difference will another %4 make? Is it worth for the risk? No. I wouldn't trust my coins in that website even if they were giving 100% ffs. Here you have it.

Don't misrepresent what I'm saying.

Let's test your logic...where do you keep your coins? What wallets do you use? Which exchange do you use? Do you spend or hold? Do you trade?

If you're honest with me, I bet you'll find that you risk just as much in your world as one does with Freebitco.in.

I'll be honest with you, the coin I have on deposit was with Coinbase. Do I take on more risk by having deposits at Freebitco.in rather than Coinbase? No. Same risk. Same lack of control over my coins (really)...just like we all take on with the fiat we leave in a bank account. Except with Freebitco.in I get compensated for my risk...that's the 4%. And with every tenth of a bitcoin I earn in interest, I expand my base to earn more profit when the price of bitcoin grows 30% (using your example.)

Another difference that another 4% makes is that while your bitcoin sits idle, when there isn't appreciation in price, actually means you're losing value as the cost of everything in the world raises. I get to offset that with this interest...that's my worst case (all things being equal).

It's funny how people believe in fiat with all the faith and trust in the world but fail to carry that trust over into Bitcoin - a currency that has no less safety than fiat and espouses the ideal that it will be better than fiat, less corrupt.

Maybe if we all started giving a few more fucks we could build trust in this system that's truly worthy of it, rather than squander that trust in a government controlled fiat system.

But we must know the different kinds of risks we are taking. The risk to lose coins stored in CoinBase is lower than the risk to lose BTCs stored in FreeBitco.in, considering Coinbase safer. I believe most people think this way, people don't trust a faucet site very much to store a big BTC amount.

But if we compare the risks between trade and FreeBitco.in it's safer to invest to earn the 4.08% annual as the money generates passive income and we don't need to take the risk everytime selling and buying Bitcoins, with average losses risk.

It's upon to each one of us. It depends the personality of each one of us, for some one option is better, for anothers the other option is better...

You can't really compare Coinbase with FreeBitco.in when it comes to "storing" coins. Mainly because of the fact that Coinbase is properly insured against all sorts of thefts. It gives people a safe feeling.

FreeBitco.in purely relies on the reputation that they have been building up throughout the years. It won't do anything in case there happens to be a theft or whatever other scenario that would make them lose their coins.

But yes, if you compare a "guaranteed" form of passive income to the potential profits that trading allows people to make, then sure, the 4% offered as annual interest is the safest option.

I use electrum wallet. I some times take them to btc-e and make trades there. But this event is very rare and only if i see a very obvious bubble. I sell my coins and rebuy them from a lower price. That's my trading strategy. It has one downside though. I can be wrong and may get trapped in a bulltrap. In this case my FIAT money will be staying on the exchange till i get the price i expected earlier. Sometimes i panic rebuy and fuck up my strategy but it is not because my strategy is bad. It is because i decide to become a pig sometimes. And you know why? Because i am afraid of exchange hacks. I don't want to wait longer than i expect. That's why i take my loss and leave. So unless i get my profit in a month or two, trading ain't worth it. You better hold your coins in somewhere safe.

Coinbase, freebitco.in, poloniex, btc-e, citibank, hsbc, deutschebank, xxxxdice... it doesn't matter where you put your money. All same.

Unless you have full control of your money you are at risk. Waiting for 1 year to get a 4% profit?? This is MADNESS.

That's my logic.

Edit: Actually i'm now thinking to transfer my funds into a offline/cold paper wallet and i won't ever move them till they become massively big. (i mean as big as a house :))

I didn`t know about the farm, after calculating how much I can risk there and how much profit I can make in a year I decided to not invest nothing there. By the way I received same mail weeks ago, I also opened a new thread about it https://bitcointalk.org/index.php?topic=1826156.0 (https://bitcointalk.org/index.php?topic=1826156.0).

I wish to pay attention on argue in this thread between some members and Mindtrust. I agree with Mindtrust, I will rather risk my coins on something else where I can make better profit. To just keep my coins on freebitco.in and to get 4 % is too big risk, how much coins do I need to make some good profit, I need to invest too much and that is a big risk to keep all that coins there.

Whether someone decides to invest in Freebitco.in is the private choice of every person.
I agree that keeping coins in online wallet is always a risk, no matter how much confidence this service has.
In this situation, each person must individually calculate and evaluate the investment risk. For me ~ 4% per year, compared to the risk associated with online wallet is too little.

Yeah even i got an email like that i would recommend you to refraim from actually taking advantage of this offer as there is a high chance the site isn't in profit anymore so they want to grab as much as bitcoin possible and suddenly disappear. Plus bitcoin gives a annual return of 20% per year so extra 4% would be worth it.

Sounds like it's not the risk you're concerned about, but rather it's the low return that keeps you from getting interested in this. That's fine. But realize that in the world of investing a low rate = lower risk. So if THIS opportunity is too risky for you, so should every other opportunity that offers you a greater return...aside from simply holding bitcoin.

I'm actually not. Investing in any kind of investments isn't my thing. Also the fact that it gives a 4% annual profit isn't that promising for me. I'd rather use the money in trading than to put it in them even if they do have a reputation to hold. If you'd think about it you'll get more profit in trading than this in a shorter period of time.

Owner of freebitco.in already confirm, that they have mining rigs and quite big power.
They without any problems can cover annual interest of their clients. I don't see any reason to accuse them that they can't pay interest for their users. Anyway, many years he don't have problem with that.
Other thing is risk in keeping deposits in online wallet. Everyone have to decide by himself if annual 4% is worth of risk.

Freebitco.in is probably one of the oldest bitcoin faucets out there and the most well known. Personally I have used their service ever since i was a bitcoin newbie, and every time they have paid on time without any problems.

The interest rate isn't that bad at all, it is actually higher than a lot of country's commercial bank interest rates which means that if you believe in bitcoin and you hold bitcoins anyway, this is a great way to accumulate even more ;)

I personally feel that their offer might be to short bitcoin because of the high price point when they put the ads out, but the offer is definitely legit. The interest rate isn't high enough for them to be a scam.

Is it me or it seems their faucet payouts have been decreasing big time recently. This does not have mean anything but it might be a sign of trouble of shift in their investments. If they keep doing this, people will switch to something else.

Investing in freebitco. in is a bad idea because they are paying a very low % of interest per year. We will make more profit through trading, 4% yearly interest is very less amount.

It's more likely that the decrease in faucet payouts comes from the price that has gone up. It also depends on how much coins at what price they bought to supply their faucet.

If they bought a load of coins a few months ago, they could keep offering somewhat of a higher than average payout (in faucet terms), which could explain their recent payout decrease.

Or, people are emptying the bankroll of FreeBitco.in through the dice game that they offer. It's not for nothing that they offer an 'investment' option where you are promised a fairly decent interest rate.

Trading can be a thing for sure but trading has some sort of risk in it. But if you compare with the offer freebitco
is providing us then i think it is actually better to trade as 4% per year is not that much and they also aren't sharing
with us that what they are actually going to do with that money.

You are not right. Freebitco.in rewards is always same - $0.002-$200. It always same value in dollars. 
And if Freebitco.in wouldn't able handle investments and guarantee interest, I don't think he wouldn't offer to invest. He said that he have more plans for his website and I don't think that he want to screw up his perfect reputation. But I understand why people are looking suspicious in this investment system - there was so many scam attempts that people don't believe in legit investment websites.

Yes, the rewards change all day long, proportionally to the BTC price variations. Looks their system is very sustainable as they are working fine since some years ago without reports of scam attempts or other nasty things.

The only thing about lowered rewards I know is that people trying to cheat Freebitco.in receive halfed prize, I saw some complains about it, but I think only who tries to cheat the site receive these rewards.

I recived that email too, the thing that baffles me is how people could trust anyone holding their coins for a mere 4% per year.
The level of risk in crypto could never be so low that people could conisder such risk/reward ratio as interesting

For now I don't trust other site when you are going to invest even little satoshi. Just keep satoshi for yourself or take the risk of investing it to them for a year. Take note of 1 year=365 days, so goodluck for that my friend.

The lower rate is precisely why this offer has been developing and building trust with members who are taking part in the offer.

This rate is realistic. It's sustainable. It's relatively easy for Freebitco.in to pay the rate out, which enables the company to engage in the growth and business endeavors without risking the ability to meet their interest payment obligations to all of us.

If the rate was 10% or 20% it would be completely unsustainable. It would be akin to the various high yield investment programs that have popped up and disappeared so quickly later.

Finally, put this offer in perspective. This is possibly the longest running and arguably most well known bitcoin faucet...do you really think they'd want to burn the business with this 4% interest offer?

(If this was some grand final move they'd offer more interest so all of the skeptics can be lured into participating following similar logic as yours: the higher the rate the more I'm willing to risk!)

Give this offer a shot with your existing faucet balance - if they pay consistently, consider them as a good location to deposit a balance beyond faucet and gambling winnings!

Lol, its a simple psychological thing. Many many users will simply use at some point dice option, out of 100 users 10 of them will actually keep their coins and make that 4.08 percent regularly, 90 users wont be that patient and at some point will start to use dice game option.....

Yes, that may be correct. Because recently admin has posted a comment saying that most of the profit he gets from a dice game. So it is a clever way of asking people to keep money in their wallet so that they can easily play the game. Also their dice game house edge is quite high compared to other dice game sites.

Love the discussion, just want to add two points. All businesses are in business to make money, from Bitcointalk.org to Google.com. However most companies don't give back to their loyal customers. Freebitco.in is giving back 4% on deposits to loyal customers and you don't even have to place a bet to get it! That's better than Vegas, baby!

The Admin did post the following about the state of the business in another thread. The business certainly doesn't need the money, and is well funded to cover the interest owed on deposits made...have confidence in that!

well. it depend on their profit graph. if they make a super huge annual profit than 4% is also not bad. but yeah there is always doubts on these kind of investment. I would never prefer to invest in such schemes.

that is one of the biggest reasons why i can't wrap my head around this investment.
this site has a high house edge (i believe it is 5%) and people are are real gamblers know this very well and won't play there. instead they will choose other better places with low house edge of 1% and lower.

the only players remaining will be faucet users and they won't deposit to play, they just use the faucet payment and that means site doesn't really make money since their advertisement is almost nonexistant these days.

It's you and it's not! Yes, it has been decreasing over time, but only because Bitcoin price has been increasing over time. You seem to know about their faucet payouts but perhaps have not been paying attention to what you're actually getting. The payouts are fixed at a fiat price in USD. So the amount of satoshi you get changes each hour based on the price of BTC at the time.

Have you seen our stats page? We have a lot more volume than some people may think.

%4 profit for yearly is realy low.

More than my Coinbase account is paying!   ;D :D 8)

The thing i like the most is the 25% commission off the interest my referrals are making.

Are you referring to bsave.io? If so, then sure, FreeBitco.in offers a better annual interest rate (4% vs 2.5%).

But I am not exactly sure how everything at bsave is set up regarding the insurance of their digital assets as they are linked to Coinbase.

Coinbase is fully insured, and if the bsave assets also fall in that category, it gives bsave a huge security advantage, which is obviously not the case with FreeBitco.in.

Some times less is more. ;)

No i'm talking about Coinbase proper, which pays zero interest on any balance. Same appkoes to Circle and Xapo.

That said, "sometimes less is more"...i just want everyone to be aware of the options to make the decision wisely.

Yes, 4% yearly is very low but then Freebitco.in has been there for many years and they have no intention of scamming people. So they are giving rates which they can really pay. Remember hyip sites which pay 4% daily are scams only.

Bsave has nothing to do with coinbase. They just take coins from your coinbase account and lend it on Bitfinex. So, when bitfinex got hacked, savers had to take a 30% haircut (https://bitcointalk.org/index.php?topic=1316621.msg16016421#msg16016421). They are just misleading people into thinking that they are somehow affiliated with coinbase when they just link your coinbase account to their service (which any service can do using coinbase API).

It seems that you are indeed correct. I was struggling to find out exactly what ties they have with Coinbase, but it didn't result in anything.

Now with your information input it makes sense that they just want to give people the impression that they are affiliated with Coinbase.

Bitfinex is a shady exchange as they lost the trust from a lot traders in the whole Bitcoin industry at the time they suffered a massive loss due to a "hack".

Any service risking people's coins at the platform that Bitfinex operates is a direct no go for me, and so should be for others.

I believe this is only good if you have spare bitcoins you don’t know what to do at the moment. Otherwise 4% yearly is lower than most banks.

If I am investing in bitcoin I would expect a lot more than 4% a year, I mean it is even riskier considering we don’t know if it will be hacked or not, I mean “hacked” or not. I would rather just exchange it to USD and put it in a bank that gives %10 to %13 where I live.

Tough 4% just gives the vibe that they are not after scamming people, 4% is a doable and believable investment return to actually be realistic.

10-13% interest where you live, where's that, Brazil? I need to get in on that game!

Here's a list of interest rates from around the globe: http://www.global-rates.com/interest-rates/central-banks/central-banks.aspx (http://www.global-rates.com/interest-rates/central-banks/central-banks.aspx)

The countries with savings interest rates (no lock in period, no risk) that exceed 4% are Brazil, China, India, Indonesia, Mexico, Russia, South Africa, and Turkey.

SO...if you live in these countries you can leave your money in the local currency in a savings account and likely make more interest than the 4% from FreeBitco.in.

BUT...you'll lose out on the appreciation opportunity that Bitcoin offers.

Don't confuse Bitcoin (a currency) with an investment in a company (a stock). If you have a Bitcoin balance, it should be earning interest, period. There's only one place I know of where that can happen: FreeBitco.in

 I live in one of those countries and I get like %13 in savings plus a ton of benefits as well like retirement funds. So %13 interest plus big bonus when I retire and something like a salary afterwards is great for me to ignore.

 HOWEVER, I think bitcoin is a greater investment, not the %4 part but BITCOIN in general is a lot better to keep until retirement, I think it will grow a lot more than %13 a year 30 years from now. So I want to keep my coins instead of turning it into fiat.

 Since I want to keep my coins in fiat and since this is the only realistic place I can get interest %4 is as good as I can hope for. Yeah there are places who offer you %100 monthly or like %10000 daily or whatever, but do you really trust those places? Those are all scam, we know freebitco.in, its old and trustworthy and it has many users, they don't even request a seperate account, just have 30k satoshi on your account and thats it, you get interest. You can use them as a wallet if you want and if you need your coins withdraw it anytime you want and if you don't need your coins just keep it there. Using them as a wallet brings more coins than any wallet out there.

 So yeah, if you believe bitcoin will increase in price, this is the best and most realistic offer you will ever get. If you want to risk getting scammed than yeah there are other places, if you want fiat, than yeah there are other places, if you want to keep bitcoins and get interest, this is as good as it gets.

May I know where you live? It must be a country with an upcoming industry/economy as it isn't a joke to promise people 10-13% interest annually. The money they hand over to people must come from somewhere. Another thing, does the government guarantee people's money to a certain amount? I personally don't even get 0.5% interest over the money I have in my savings account. Other than saving for the purpose of having money aside for when you need it, there is no point into letting your money in your savings account.

Where I live I can earn more than 8.4% annual interest safe mode. But the inflation is high and the money becomes less valuable each new month, so it's not adviced as the best deal to do... I'm sure the same applies for the country that guy says.

The good point by receiving the 4.08% annual interest here is that we are receiving interest in BTC, what means our money become more valuable each new day, much better than fiat saving accounts.

^^^ Exactly

Hell, this FreeBitco.in interest and the 25% commission (both paid DAILY) off the interest your referrals make is more lucrative than a signature campaign.

Countries having high interest rates also have high rates of inflation so the purchasing power of your money there usually depreciates rapidly. High interest rates are usually set to encourage people to save rather than spend and thus bring inflation down back under control.

The thing is, people will believe and invest if a hyip is giving them 4% daily but won't invest in a company like this.
They'll not even think or imagine about how those sites will pay that much higher and won't even think for a second that they'll scam.
I think freebitco.in is a trustworthy site and investing would give you some extra money rather than keeping it in wallet.

Thanks for your endorsement - we appreciate it!

If you want to get normal profit from freebitco, than you need to invest serious amount of bitcoins here since their 4% is low but they are very trustworthy not only here but in internet, simply many people's first step in bitcoin started from freebitco. And now thereis no doubt that some people prefers saving bitcoins in cold wallet because investing of huge amounts is still risk despite their reputation and with 1 btc, profit is so low, it doesn't worths to my mind.

At least you are getting interest from a reputable member of the forum as well as a proven admin. Instead of investing in some dodgy ass bitcoin bank run by somebody in China that you have never heard of.

This is awesome if you are betting on bitcoin over the long run. I mean you get 4% stagnant doing nothing a year, on top of any profits that you would have made if you invested in the rise in bitcoin's price.

So don't complain too much, it is what it is, although poloniex and bitfinex lending will probably yield you a lot more.

But you should ask also if it is really worthy to spend our money in their since in this case 1 year is pretty far to wait and the only profit we can get is only 4% and we doesn't know on how long they would last since at the first place it is an online investment and we don't have any people to sue of if something bad happens to them. Maybe for short tempered people its not really suit for them to stake on this kind of investment type and also maybe it will be good to those risktakers who can afford to lose and can gamble what they have.

I think it's actually pretty good.

You're getting interest on your bitcoin, like the interest rate although some people say it is bad, but is actually higher than lots of commercial banks all around the world so i don't think you can complain much about it.

Say bitcoin rises by 50% in value in 1 year like it did last year + this year after the halving and all that. You'd be getting 4% on top of 50% profit, which is awesome :D

What you saying is true, but site owner isn't a completely unknown person. His site is running since 2013 and paying all users, never heared any complain about his site. The profit as he said is coming from the mining activity and the rates of interest can change any moment (decrease), if it happens, users will be notified with 30 days of precedence. But there is always some risk...

I don't think you actually understood what the offer was exactly. You will have to deposit bitcoin on freebitco and after a year 4% of the bitcoin will increase. Example if.you deposited 1 btc after a year it would 0.04 btc increase. While the price of bitcoin keeps changing you can expect a return of 19% a year which is way more than your bank

Ok, let's clear ALL the misconceptions here.

Here's how it works.

You deposit bitcoin with FreeBitco.in - either new deposits or that which you've earned from the faucet.

THE INTEREST: The annual percentage rate offered is 4%, so your balance left in the account for a year will have paid 4% (actually a tad more)

THE PAYMENTS: The interest is paid daily. Which means that each day you are paid 1/365th of 4% on the balance you have that day...this is your daily percentage rate. So, you are paid 0.0109589% each day. Payment timing is randomized each day to keep people from only depositing money for the interest payment and then withdrawing the money the same day.

THE COMPOUNDING (of interest): If you leave your balance untouched the interest you earned today will add to your balance upon which you'll earn interest tomorrow. If you do this for a year you'll actually earn more than 4%, you'll earn 4.08%...this is your annual percentage yield.

THE APPRECIATION: And while your bitcoin is in the account with FreeBitco.in it will benefit from the price appreciation (or depreciation) that naturally occurs in the market over that year. If bitcoin value goes up 20% this year you also gain that 20% appreciation in the bitcoin you have on balance with us (or in any wallet). Your balance with us is yours, you're not selling it to us.

To see the amount of interest you've earned go to the "EARN" menu. You'll see (1) a weeks worth of interest payment history, (2) your current balance, (3) the interest payment you'll expect to receive tomorrow, (4) the interest you'll expect to receive over the next 30 days, (5) the interest you'll expect to earn over the next 365 days, and (6) an interest calculator so, for example, if you want to deposit BTC10 of your holdings you can immediately calculate how much interest you'll earn daily, monthly, and yearly.

Does this clear up what we're offering here? There's been several comments that indicate some confusion. I'm happy to answer any and all questions!

Yes, I agree with you because there are many sites paying higher percentages daily and scamming the people in days only. Freebitco.in is paying a lower percentage and also they are paying yearly it seems they will pay on time because they are paying low percentage to investors.

Your interest payments are paid DAILY...every single day. So you get paid as you earn, no need to wait.

It's been a month since FreeBitco.in started paying 4% interest on balances.

Who's taking advantage of this offer? What are your thoughts so far? Daily payments hitting accounts as expected?

I have a really small amount there. The interest is coming in smoothly.
4% is not a lot, but as far as it being less than any bank... It depends on what part of the world you are. For europe right now with Euribor in negative values most banks are paying 0% interest on the deposits.

This is a ver low interest, for those who want to invest in freebitcoin to earn 4% anual Liqui.io is offering 24%  annual returns. This is a trusted company and great developers if you don't believe me because I'm a newbie check the daily volume in exchangewar or coinmarketcap

https://coinmarketcap.com/exchanges/liqui/
https://exchangewar.info/

4% interest is quite a decent figure in current times. Especially if you consider that freebitco.in is a long time player that has had enough time to build up a certain level of trust among people here. Liqui is indeed offering 24% annually, but this exchange can't justify handing over people such a massive interest rate every year. I rather go for the 4% that freebitco.in offers, than something so unrealistic as the 24% from Liqui.

Liqui is highly depending on their trading volumes in order to gain the required amount to pay people. It's a tiny exchange with most likely a high level of fake volumes. Definitely a no go when it comes to the annual interest aspect. As far as trading goes, it's up to the people to decide whether or not they want to make use of it.

What makes this site "trusted"? They state they're new, so what reputation have they built?

Do you have money invested with them? If so, for how long? Have you tried to withdraw yet?

I hope this is a reputable site, but I caution that you don't get left as one of the last with money in their bank. There have been PLENTY of offers like this, where rates are higher than are possibly sustainable, they last for a month and then they're gone. A few people make money by getting in early and getting out early, and the rest are left leaving sorry posts of regret on this forum.

Good luck to you!

But freebitco.in is serving bitociners for years and if I am correcly recall liqui is here for less than one year and when some new bitcoin mixing services hit the market (namely hybrid mixer, I am not sure though) people were talking about their links with one of the owner/admin of liqui exchange. Sticking with lower paying opportunity seems good rather than risking with new services.

Currently I am having balances of 0.001 (all the balances are from faucets) bitcoins in freebitco.in and earning 11 satoshi daily. I am not having any plan to withdraw them. Let me see how it goes !

24% annually is WAY harder to maintain. Liqui.io is not an established exchange and they depend on trading volume to be able to pay out.
Freebitco.in has been around for 4 years at this point and is therefore much more trustworthy.
4% also beats quite a few banks depending on the country, so it's actually just the right amount of interest (perfectly feasible as well).

24% is insane.
4% is manageable but 24% is screaming scam.

Trusted company? What does it even means "trusted" in the bitcoin world. A company that has been around for 1 , 2 years makes it trusted?

I wouldn't invest in something that "guarantees" 15% , anything else above this margin is risky as hell.

That is not true, they pay out your interest daily, but it is around 4.08% annually.
Many people on this thread are saying that this 4.08% every year is a very small gain from money saved, but on the contrary you should take a look into the banks offer.
I know a lot of banks where you can get smaller yearly interest, even with as big amount as 10,000$, so freebitco.in might be a good alternative for bank placement.

It is fairly better to choose earning 4,08% every year, than choosing 5% monthly, because there is a really high chance that this investment will just make your money vanquish- it will turn out as a ponzi or a scam.

even its annual? not monthly.. but 30k sat annualy 4% only 1.2k sat/year  ;D

but annual its a long time idk they will be last longer in next year

I find it interesting how much talk people make about the rate and whether it's enough or not.

The reality is that if you own bitcoin and it's not with FreeBitco.in you're leaving free money on the table, that never comes back with each day that passes.

zero percent?!...even in fixed deposit?

That's good for us as another choice for stable investment.
hope freebitco keep good and other reliable website got chance like this.
 

Im actually really amazed that freebitco.in has given us such a opportunity, to earn 4.08% annual interest through investing into their website.
I remember that I have been using it a little bit, through short period of time. It was developed as a really good faucet, which has had many great additional features.

But I would never expect such a change, I hope that it won't turn them into some kind of a ponzi, or scam.
I heard somewhere that they are planning to launch wallet service, however I hope that is not going to happen. Nobody should hold their funds on some unreliable website, without having access to private keys.

Fixed deposits. I can give you an example. In Santander bank, portuguese branch. An online fixed depsoit for 6 months or 1 year as a rate of 0,05 to 0,1%. And that is gross rate...
You can get around 1% in a fixed deposit in one or two banks to atract new clients or new capital. The inflation rate will be between 1,1 and 1,5....so 4% on freebitcoin is not that bad comparing to this reallity:)

It looks like a really good idea to add that option in their site but I dont prefer investing money there because everybody can earn more money with paid to click sites and revenue share.

But the FreeBitco.in investment intention is to pay you passive income, what means you are doing nothing, your money is working for you. With a decent balance you will earn much more than what you earn clicking ads on PTC sites or any other thing like this.

It's not possible to compare a passive income investment with a PTC site task/job/hobby.

I see that many people complaining that 4.08% yearly interest is low. I don't agree. If you say that interest is low, pleaee offer something better. For example, if I would put my money into bank, I would get 0% interest.
Offcourse, you can invest into HYIP's which gives high profits, but it's too risky to invest, because we will just loose our money.
I think it's better to deposit bitcoins to freebitco.in than just hold bitcoins in wallet. Profit isn't big, but it's safe to invest and we can earn some passive income.

There is no guarantees that you will earn passive income in any kind of investment. There is always a risk to lose our investment by some cases such as site getting hacked or other things. I dont really understand how the investment on freebitco.in works but I guess they cant give you guarantee of profit. It will be suspicious if a site offering guaranteed profit on investment.

Offcourse, every investment have risk, but Freebitco.in can't be compared with various cloud mining websites, HYIP's, ponzi schemes and etc. I trust in Freebitco.in because it's trusted website which already many years in business. They clearly provided how their investment system works and how they will use invested money. It's imoortant that they provided proofs of their mining operations. I see only one risk - that someone hacks freebitco.in website and steal bitcoins. But as owner said, they keep biggest part of bitcoins in hardware and paper wallets.

Hi Panjul07, you ask some good questions...we have some answers for you.

We've been very open about why we're offering interest on balances and what your deposits are helping us achieve.

How do we make money to pay you interest?

When you hold money in your FreeBitco.in account, we split it into 3 parts - the first part is used to cover user withdrawals, the second part is used to bankroll our MULTIPLY BTC game and the third part is used to expand our bitcoin mining operation (which is currently 6.541 Petahashes or 0.175% of the total hashpower of the bitcoin network). We make a profit and assume the full risks of our businesses and in return for you saving your money with us, we give you a risk-free fixed rate of return.

On the FreeBitco.in site at the Earn BTC menu we have signed a message using our bitcoin address that is used to collect payments from our bitcoin mining operation.

And if you're concerned about solvency, about us having enough funds to cover deposits you can check the balance of FreeBitco.in's wallet. Here's just a little something to prove that we don't really "need" the investments: http://www.coinig.com/?adr=12Q18uwjHJo13UCws46xKyyeuZomZwdywB&msg=Bitcoin+address+owned+by+bitcointalk+user+wetsuit&sig=G0MOX5pavwdw260GHWeOfiL14on8%2FwF6A8gcFTxyPCxbBJMzT5aN%2Fya%2BFLAhwE9y1f6HitkmqOeDaLWdYZZpCt0%3D (http://www.coinig.com/?adr=12Q18uwjHJo13UCws46xKyyeuZomZwdywB&msg=Bitcoin+address+owned+by+bitcointalk+user+wetsuit&sig=G0MOX5pavwdw260GHWeOfiL14on8%2FwF6A8gcFTxyPCxbBJMzT5aN%2Fya%2BFLAhwE9y1f6HitkmqOeDaLWdYZZpCt0%3D)

Take the verified bitcoin address in the link above to Blockchain.info to check the balance, and therefore FreeBitco.in's solvency.

I am not saying anything against the site but the annual interest is low. I am making between 10-20% per annum.

4% isn't low. It's what they can justify paying out to people.

I much rather prefer services to offer a (in relative terms) lower interest rate which they can pay out without any problems, than having services advertise with insane returns that are impossible to maintain.

Instead of just saying 'this is low because I earn this or that', you can also provide more information as to what exactly you're doing to earn between 10-20% per year. Mind sharing?

At least its better than holding on a wallet. Its a question about risk managment at all.
But i would never say 4% is bad.

You're making this much from a bitcoin balance? If so, you should share where so others can get on board!

Why do you want him to reveal his precious secrets?
It is not alright, you can find many "money-making guides" over here, in this forum, but they are just something that might help you to get the grasp on how to earn bitcoins through internet.
But this is not so easy, cryptocurrency can be converted to fiat money, which means that people in here treat it as a regular cash.

You need to make up your own idea, or at least improve some way of getting bitcoins if you really want to get returns only thanks to using your PC.
Im sure that you wouldn't share your great way to make 10-20% yearly, neither do I.

4 percent seems like a pretty lowball number with the amount of risk involved in leaving it in their wallet, so I'll have to agree with ya on this one that it's a pretty horrid interest rate.

For 4 percent there is some risk involved but with the amount of sites that get "hacked" and lose everything I wouldn't even want to risk it with this. The only way the owner could get this to work is if he put in some safeguards or escrow accounts with customers money though then it would defeat the purpose of him having customers money to be able to do stuff with within his site.

Maybe just offer higher interest amount with no escrow and see if he can get more business, that'd be all from me.

Well 3003 bitcoin will cover most of the investments that would have to be covered by this investment scheme. Is this the Net profit after all deductions was done, because I only see 3 deposits and no deductions. ^smile^

I think I am lucky enough to receive higher interest than 4% per year on my investments on fixed deposits at banks, so this is not a option for me, but I reckon some people might not be this lucky and would grab a opportunity like this.

Not having to deal with banks, would have been great, but the interest is a bit low.

There are few good aspects of freebitco.in, to get those 4% of returns you never need to invest your hard earned money. Just use their faucets in your free time and accommodate above 30k satoshi and start earning one or two satoshi daily. Everything will be free of cost so why not just give it a try.

If it is from some other company, then I will never think about it. Feeebitco.in is serving to bitcoiners for years with no complaints as far as I am concerned.

I do not have any plan to invest with them, but will make use of their faucets in free time and I will never withdraw my balances (until it will grow near 0.01 bitcoins) to see how their this investment plan will work.

I am not sure why they are doing it since they have 0.175% of total hashrate.
I would personally only mine and do nothing else.

It's a good idea, but you will receive too low interest over your faucet earnings (if you don't have referrals). I believe takes too much time to get 0.01 BTC there only using faucet and when you get this amount, you will earn a bit more than 100 satoshis daily interest. Better than nothing, but it can be much better if you deposit a big amount, let it generating some income for few days or weeks, so withdraw your initial deposit and continue growing your money only with what the site gave you.

Not from a Bitcoin wallet you're not.

Business breeds business. If we want to grow, we need to expand beyond earnings from the faucet. Mining is one of the options available. It's nothing more than basic organic business growth.

We're no less risky than bitcoin banking with Coinbase...which, I'll remind you, is not paying you interest on your balance and IS now charging you fees for transactions. If you're going to use an online wallet, we offer the best deal with one of the longest running reputations.

This day's about to end...I just received another interest payment from FreeBitco.in, did you?

Exactly, it is not predictable because they are making through only one option that is through advertising, but they can't make millions and millions in a year. It is not possible then how can they pay interest yearly for the people who invest in it, even they didn't mentioned any guarantee towards your investment.

There are no guarantee in Bitcoin, but I figure if they have some banks with a higher interest rate than 4.08% per annum, they could just

do that and pay interest to their investors. So 4.08% is low for people that are getting 10%+ from long-term fixed deposits. You only need to

pay some money from your own pockets, until these long-term deposits yield returns.  ::)

Yes, but people making this much interest don't have their deposits in bitcoin and are missing out on ALL APPRECIATION!


And an update on the mining power we've attained, our mining operation is at almost 9 PH now (8.88 PH to be exact).

Username wetsuit at https://slushpool.com/stats/hall-of-fame/ (https://slushpool.com/stats/hall-of-fame/) and https://www.miningrigrentals.com/rigs/35192 (https://www.miningrigrentals.com/rigs/35192)

Yes, there are no guarantees in bitcoin. I'm sure that Freebitco.in would get more trust if they insure users deposits. But it's impossible, because bitcouns is always circulating - users can deposit and withdraw bitcoins whenever they want.
In my country, it's impossible to earn interest from bank deposits, because banks aren't paying interest due to Euribor.
In past I remember some banks paid high interest rates, like 10%, but they bankrupted later. And people lost their deposited money, because only deposits lower than 100k Euro were insured.

That is why they got bankrupted because of the higher interest paid! Here in my country banks offering only not more than 2% per annum of your savings which they can earn more than of that by using your money in lending.
While in freebitco.in interest is really small but it is good for the trusted site which they do not like to be bankrupted they utilized to be stronger due their good services.

We're approaching a HUGE Rewards Points bonus weekend >>>>> 3x Rewards Points starts tonight!

For 48 hours, we'll pay you 6 Rewards Points for a free roll, 3 Rewards Points for a multiply roll, and 3 Rewards Points for a referral roll!

Follow us on Twitter to get more announcements of great promotions > https://twitter.com/freebitco (https://twitter.com/freebitco)

These reward points anyway linked to annual investment program ? I heard these reward points could be redeemed for bitcoins but threshold limit is unrealistic ? 

I just wonder how freebitcoin is affording to provide these many benefits just by showing some ads. I mean they are consistently providing 50% referral earning along with these point system and finally now they are coming with annual investment program too.

It is good to have by I cannot resists myself to stay cautious at the same time wanted to alert people here.

You should be happy that freebitco.in did not give any kind of guarantee of returns, at least that is what I think.
If they would tell us about some "guarantee" of returns, im sure that many people would leave this investing programme.
It is because of that every smart investor or traders knows that there is nothing such as risk-free investment.

Every single thing that involves any investing activities also contains risk. You cannot avoid this, and every website which claims having "risk-free way to earn money" shouls be considered at least as a shady service.

We're a business, and we make a profit like all good businesses do. I think we're fairly transparent with how we do that on our site. We offer gambling, we have a mining operation, etc.

And because of this business we're able to give back to our loyal users. We do that by way of the daily interest we pay, the referral bonuses we pay, the weekly lottery, and the reward points. Reward points in particular are meant to reward loyalty to our site, this correlates to the payout thresholds. I have almost 1600 RPs in my account and I'm not playing every hour, I don't have a huge number of referrals...I'm an average user/account.

You'll notice that the goods and gift certificates have higher payment thresholds. The free BTC, lottery tickets, and RP award bonuses have lower thresholds...and those thresholds don't go up in an exponential way. You can get a 10% bonus on free BTC payments for as few as 32 rewards points.


Bitcoin, in itself, is not risk-free. Bitcoin (like any currency) requires trust among its users that there is value to be had. And specific to bitcoin online wallets (such as FreeBitco.in, Coinbase, etc.) you're trusting a company with the private key for your wallet. That's a BIG DEAL! And we take it very seriously.

Once trust is broken, it's very hard to earn it back...the last thing we want to do is break the trust we've built with each of you.

We're approaching another BIG Rewards Points bonus week >>>>> 2x Rewards Points starts tonight!

Starting at 12:00 UTC on Wednesday, we'll pay you 4 Rewards Points for a free roll, 2 Rewards Points for a multiply roll, and 2 Rewards Points for a referral roll!

Follow us on Twitter to get more announcements of great promotions > https://twitter.com/freebitco (https://twitter.com/freebitco)

If there will be no change with annual interest rate of 4.08% in coming months and when bitcoin will be having value like $2000/$5000 or $10k levels, I guess freebitco.in's this program may beat lending business as daily interests are being paid in BTC value not in fiat equivalents which may grow along with bitcoin value.

Is there any possibilities that freebitco.in will not change their interest rate so that I can have some higher-end plans for passive income generations ?

The offer from freebitco.in has already beaten basically any lending service. If you look at the operations from freebitco.in, then their revenue mainly comes from the gambling side of their platform, and another part of their revenue comes from mining operations. If everything goes well in all aspects, then they have basically no reason to lower the rate. But if things aren't playing out entirely in their favor, then the interest rate might see a drop -- don't rely on that 4% too much.

I can't guarantee any thing about the future regarding the rate - to do so would be foolish, because one never knows what the future will hold!

What makes this interest payment plan sustainable is not the bitcoin to fiat conversion price (i.e., bitcoin being $2000 or $50000), but the rate that we pay. It's the rate level that makes this sustainable.

If anyone wants to make higher-end plans for revenue generation I'd highly suggest they start earning interest from our site TODAY! Every day that goes by is a day you didn't get paid. And enjoy the fact that as the price of BTC goes up the fiat value of your interest payments go up.

There's a nice arbitrage opportunity going on here!

This makes me interested to try at the same time I just want to know what are the measurements you are following to act as a bank with public funds.

Did your services being insured in any manner and what about the confidentiality of investors and their funds details. Are you following encryption methodologies like a major exchange/web wallet services are doing ?

I am sorry to say your site still looks like a faucet services but freebitco.in has grown incredibly up to the status similar to banks along with solid reputations with tracks of paying mammoth 0.1 million bitcoins so far. I suggest you to switch over to some attractive graphics if you people feel necessary.

Thanks for your comments, naidray.

Think of the investment opportunity as a way for us to give back to those who've shown us so much loyalty over the years.

We were a faucet first, we remain a faucet first, a gambling site second, and an investment opportunity third. The way we operate our business is inline with all other faucets and gambling sites in the business...except we do it better by paying interest on your balance.

The interest offer is barely 2 months old but we're excited about what the future holds. As with most successful businesses, real transformation takes time. As we evolve we'll be sure to let each of you know. And we'll always appreciate the advise, comments, feedback, and praise we get from each of you. Thank you!

not really. Total Rate = 66.75 %/year my current poloniex lending rate

With the growth of the fiat value of Bitcoin, it occurred to me that the fiat value of the 4% APR interest increases significantly...meaning that you're getting paid more than 4% on your balance in fiat terms.

Here's an example.

If you invested 1 BTC when it was worth $1000 and left it in the account for 1 year you'd earn BTC0.0408 or $40.80.

Now, a few months later 1 BTC is worth $2500, so while you're still earning BTC0.0408 after 1 year, it's fiat value is more like $102.

Obviously this assumes that the fiat value of bitcoin remains at the $2500, if it goes down the fiat value of the interest will go down, however if it goes up the fiat value of the interest will also go up.

The really important part is that the value of that interest (in fiat terms) doesn't just go up going forward but for all the interest you've earned!

Don't waste another day not getting paid!

The crypto sites are great no doubt and when it comes to freebitco it is even great site of all. But, the next question how long the business is going to sustain in the market? Is freebitco having solid proof of its investments and assurance that it will refund us back if anything goes wrong with the current scenario? Those are the questions first needs to be discussed on board and then we can think about being greedy of 4 % interest annually.

They were very trusted in faucets from the begining and also their new project is good idea but what do you think guys, do they have serious security on their website? As they claim that you can withdraw anytime, it means rhat they save bitcoins on their hot wallet so this seems a little bad for me. To my mind there will be a lot of investors still outside bitcointalk and so huge amount of btc would be better if hold on cold wallet.

You have got a point here. The fiat value is all depends on bitcoin price in the market. The interest paid like that way would be beneficial if held for long terms. We are getting liquidity in the bitcoin market due to its fluctuations in the price and if we take the opportunity to make 4% annual rate then we are actually adding more value to our fiat one. That will work as support for increase in value or to cover up any loss that occured during bitcoin price dump.

Don 't underestimate the power of compounded interest. If these guys really are as rock solid and with good intentions, then this is a very strong plan. My worries are not so much about fiat value but about the intentions... .

What would it take for you to strengthen your confidence in the intentions?

Im super concious on things happening on that and how could they produced some interest to their investor? Since theirs no strong fact that can boost my confidence and trust to look after them, Maybe i will just past this things up since the way i see that site is just a faucet and nothing any investment platform tracks that i can see on them.

Well, maybe start with a proper operating website, it is now displaying 502 bad gateway error messages for some hours, not exactly what we might expect from a serious organisation where we trust our bitcoins... .  :-[

Website is down by the way. Is this happening very often?

If i were holding my coins there for interests, i would be eating my finger nails right now.

Lol, indeed, I ate them already, now looking for something else to eat... .  :-[

Friends, we're back online now. Sorry for the outage yesterday! We had a server issue, it happens to the best of websites! Fortunately everything is backed up, enough so to ensure we don't lose data when these issue occur.

In the future you can always get real-time updates from our Twitter feed - https://twitter.com/freebitco (https://twitter.com/freebitco)

Or you can PM me directly!

And to compensate you all for the brief website outage, we're offering a MIND BLOWING Rewards Points bonus weekend >>>>> 5x Rewards Points starts Friday!

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Follow us on Twitter to get more announcements of great promotions > https://twitter.com/freebitco (https://twitter.com/freebitco)

Bumping this up because I want to share our thoughts on the August 1st situation that's looming. This, obviously, has implications on where each of us decides to hold our Bitcoin. And since we offer one of (if not the) first bitcoin wallet to pay interest (and DAILY!) I want you all to know where we stand.

A UASF hard fork seems very unlikely but if it does happen, we shall follow the longest chain as our primary coin and secondary coins will be made available for withdrawal for all users so you will get 2 coins for each one you have on balance with us.

I hope this gives everyone confidence that leaving your coins on balance with us, to continue to take advantage of the daily interest will allow you the opportunity to choose the Bitcoin version of your choice, post fork.

I'm happy to answer questions, directly or with insight from wetsuit.

Thanks all!

Freebitcoin is something we can trust on. For years it's been with us.
Bitcoin's price itself is rising and in freebitco.in we hold as well as get interest on our coins.
It's always better than holding your coins in wallet.

Yeah, these guys know how to manage a faucet/site decently.  :)

Thanks for this news, I believe as me, many other people are worried about the possible Bitcoin changes that may happen. People say to keep our Bitcoins somewhere where we have control over the private keys, but seems there is no problem to let our money in FreeBitco.in, I think you know how to take care well of it.

Thanks for the suggestion guys, I didn't think of this. Good to know :)
This faucet is one of the FEW sites I'd trust to park coins with.

I also will put some of my earning into freebitco. 
But what is meant by FEW?

thx

jackchun, I just meant this is one of only a very few faucet sites which are trustworthy.. :)

Thanks to each of you who has taken us up on this offer! You've put your trust in us, we know it and we take it seriously.

To demonstrate how seriously we take your trust, we want to offer you details on how we'll treat your hard earned bitcoin balance on August 1st and beyond. You'll find our statement on the potential for a hard fork, which was recently posted to the Free BTC landing page, below.


Are any of your other online or exchange wallets making such public statements to put your mind and your Bitcoin at ease?

Please help us spread the word about our loyalty to you.

So, you guarantee us 100% it will be safe to store our BTCs on FreeBitco.in site during the August 1 and subsequent events?

Are you prepared also in case hackers try invading the site to steal our money or any other imprevist?

There are many people who don't have where to store their Bitcoins safely, if you guarantee it these people will use FreeBitco.in to do it...

Yes, we can guarantee that users will get coins on all chains in case of a fork. The only responsibility of the user is to ensure that their account is secure - use a strong password, enable 2FA and secure their email account.

In which casino can you get "upwards of 30% per year" investing in BTC?

Freebitco.in always reminds me of neobux and their business model and professionalism. They were most serious business wise in PTC sphere few years ago just like freebitcoin is today in dice/faucet/btc...sphere. Too bad your house edge is 47,5% , too scary for me. peace&love! 8)

You can try, 4% annually sounds reasonable.

Just like other plans, study, and only put what you can afford to lose...

what is the similarities of freebitco and neobux ? And 4% annual interest is reasonable,  more than that may make me thought it as scam

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With the exception in FreeBitco.in there is a guaranteed interest rate when investing, while in Neobux you can lose money after investing and spending a lot of time on the site. After investing in Neobux for about 1 year, I'm really disappointed with the results... The opposite experience happened with FreeBitco.in, I like to see how these guys are growing their businesses, while being active, creative and reliable. Just stay away from the Dice tab and you will be fine.  ;)

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I have been trying to hack the lottery but it’s not working lol

Of course it's not working, unless you hack their server...