I agree with your reasoning of the deferred payments, but as a FH user, I'll give you my input. There are many sites/faucets that allow for an earnings balance to be held in-game until you're ready to cashout. Even then, it's hard to save up any kind of considerable amount that makes it worthy enough to initiate a transaction to your address/wallet without incurring fees for when you are ready to SPEND those btc that you've earned.

I like FH because it's an aggregator/consolidator for many of the faucets and sites that I visit. I can easily save up to my personal threshold of 0.01BTC before requesting one withdrawal, vs. the dozens and dozens of other withdrawals I would have had to request to total the same amount.

"But, Joe, what does it matter? I don't mind paying the fees when I make a withdrawal from these faucets."

The problem is when you try to SPEND those earnings. Your transaction size will become huge from the dusty inputs. At an average of 200sat/B, you're looking at a very healthy fee to be able to send an aggregated 0.01BTC that came from dozens, if not hundreds, of sources. I guess what I'm trying to say is that FaucetHUB is a great buffer between all of the web's more popular faucets and your wallet. It acts as a sort of "payment gateway" or mixer, in a sense.

Does this answer your question? I could go on and on, but for the sake of keeping it simple, I'm going to stop it here lol

And @wetsuit, I wouldn't mind having FaucetHUB as an option for withdrawal on your sites. BTC and DOGE Consider this another vote/request for FH to be implemented into your site. And I'm willing to bet that mex would work out a custom fee/cost structure for you, given your volume as the largest bitcoin faucet at the moment.

Well you have some point about in paypal disadvantage vs bitcoin. As i can say Bitcoin is much more realible than paypal because as what we see now. You can determined that bitcoin have been incresing its community. Many countries recognizes bitcoin now so its plus in demand of bitcoin

With a large transaction fee like that, of course I and other users will not use bitcoin transactions frequently, A large fee would be disturbing
So I'm sure users will still use dollars or fiat to transact

I think poloniex is a trusted site. They've been in the bitcoin world since the inception of bitcoin. So it's practically safe. I will not withdraw my capital from there. Unless there is a big problem

It will atleast take a couple decades for people to actually adopt bitcoin as a payment method and for governments to approve of it. Right now, it has taken 10 years since bitcoin's inception for a major government to approve of bitcoin (Japan). 5 years is definitely not enough time for bitcoin to reach all people around the world.

Bitcoin is more than a currency, bitcoin has risen to an asset for one's investment, because many people get big profits from current price spike. Demand for bitcoin is increasing, giving extra benefits to bitcoin owners who hold it.

Credit card is different from bitcoins. Credit card might also be digital but it's all about credit. People are addicted on using credit card because they are able to buy stuffs right away even when they cannot afford it yet. Bitcoin, on the other hand, is like the counterpart which is the debit card. Imagine a debit card that allows you to send money abroad without doing that much and without paying much. That's how bitcoin is.

But even when people aren't relying on cash nowadays, there's rarely people that's switching to using bitcoins because it's not that convenient enough to most people. There's very few places in the world where you can buy stuffs directly using bitcoins, meaning without converting your bitcoins to fiat first. The merchants are kind of the problem to some but the number of merchants accepting bitcoins will not increase unless the number of bitcoin users has increased tremendously.

Thinking of rarity in the way you do is meaningless

In other words, you can't possibly say that Bitcoin is rarer than gold (or the other way around). You can say that there are only 21M bitcoins (which somehow seems not a big deal) but I can easily challenge that point and claim that there are in fact 21¹⁴ satoshi which are intuitively not as rare as measly 21 million bitcoins. I hope you can see now that numbers alone taken only by themselves don't mean a lot in respect to scarcity

We need to understand a thing. Precious metals as well as cryptocurrencies have their own advantages.

If you want a long term conservative investment, then precious metals are at your disposal.

If you want to ride the price movements and to be protective at the same moment.

Then Hedge.

Total availability of gold : Total availability of bitcoins

Find out the ratio and form a discipline. Invest in either when cheaper and also set a stop loss.

You are good to go. Don't be more greedy. Always get out of expensive assets as soon as they reach the reasonable highs and move your money to cheaper ones.

I don't particularly disagree with your attitude

But you still seem to lack a proper understanding and deep insight into the matter of things, in this case into currencies and money. Personally, I would refrain from distinguishing between them here to avoid useless confusion. In other words, you describe effects without trying to delve into the causes of these effects. First of all, any currency (whether is backed up by anything or not) remains a matter of "a collective sense of what it's worth". More specifically, currency worthiness (as a currency) is defined exclusively by whether it is used as a currency or not ("money is what money does"). Gold is dear, but it basically has no monetary utility (read it is not money) because it doesn't and cannot circulate nowadays as a currency

Further, I don't agree that "a store of value is the only [function] bitcoin doesn't meet well". Not that I deny that it is factually wrong. It would be going against reality to argue to the contrary (at least, so far). What I mean to say is that Bitcoin's store of value advantage before fiat currencies gets heavily overridden and massively "run over" by external factors. Nevertheless, this built-in feature, its essence of sorts, is still showing through when we see attempts at instigating panic sell-off now and then, which still miserably fail. In other words, the kind of volatility we see today is not the volatility of some trash asset or money. It seems to be directed primarily upwards, and it is debatable whether we can call it volatility at all

I disagree with that stance

While gold may well fit into your set of beliefs (as of now) but Bitcoin is certainly not there. If we consider it as money (i.e. not as a speculative asset) since this is what you seem to be assuming yourself (by saying that it reflects value), we can't possibly deny the huge role that money plays in modern economy. As to me, invention of money is in the same line as invention of wheel and capture of fire. Money is certainly not a business (though there is whole financial sector in any economy), but this doesn't take anything from the role it plays or function it fulfills in the economy

Well, I appreciate your sentiment about businesses actually adding value, that is a very important point.  BTC and gold just retain value to a degree or another, and can also be used to transact, to a degree or another.

But, there are BAD BUSINESSES!!  Ones that lose money, are crooked, etc.  Running a business id usually very hard work for an uncertain return.  I have been involved a few businesses as a founder or other principal.  Getting involved with a couple of them turned out to be bad decisions for me.

Businesses can be very hard to sell, often quite illiquid.

Look very, very hard at buying or starting a business!  Yes, if they truly perform a needed market function, then it may work out great.

100 points or 100 percent? Please make some clarify of your statement, I know bitcoin could dump but I'm
not seeing it to dump at that level, that is pretty much alarming and will probably cause panic.

We had exchanged a few PMs and it's been a while since then. I thought I'd drop a message here, since you were worrying about FH being "new" and might have "security" issues when it first launched. It's been over 5 months since then, and we've taken over the faucet scene.

More than 60% of faucet industry coins are going through faucethub, and it can be seen on the stats page.
You remember that I offered you a direct withdraw option from faucethub to your site. That was the reason I approached today.

I'm not sure if your "community manager" consulted you before posting what he posted, but I find this very unprofessional and disappointing.

Anyway, forget I even asked you (wetsuit) to add FH as a withdraw option.

Wish you good luck with your business.

-mex

I cannot rule out the possibility of paper money to dissappear but it will take more than a century. Most digital currencies including Bitcoin are still in the middle stage and therefore cannot make paper money to dissappear so quickly.

That's what they have done. Saudi Arabia has cut production by some 600,000 barrels a day. Russia has also cut their output by some 200,000 barrels (they are aiming for a reduction of 300,000 bpd). Other nations such as Kuwait and Angola have also lowered their output.

I tend to disagree that they couldn't be flooding the market

Basically, I have no access to the data how much oil they have in their reserves left, and I guess no one here does, if anyone at all (apart from the KSA royal family, of course). These were just rumors, after all (though they have been circulating for quite some time now). Other than that, there are quite a few things in the world which are totally counterintuitive at first glance (close to incomprehensible) while at some deeper level they are quite logical and rational. For example, Saudi Arabia might be flooding the market with cheap oil like mad even if their oil reserves were near depletion because it would still be more economically justified. We could have even lower oil prices when Iran started to produce crude oil at their full capacity in a few years after upgrading their oil extracting infrastructure

I don't quite agree that it is considered wasting your bitcoin if you use it as a currency, because that is what it is primarily created for. What I do is allot a portiin of my bitcoins for holding and a portion also for spending. If everyone just holds their bitcoins andcthere is nothing leftcin circulation, it would defeat the purpose of its creation.