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Credited bonus of 0.01 BTC to both!
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I'm really interested in recent news from freebitco.in. Again, it prooves that it's more than faucet. But there one thing isn't clear for me - is is these 4.08% annual interest rate is fixed or it can change in longer period?
And, can I create second account on freebitco.in? I want to use one account for faucet and another for investment.
The interest rate is fixed at 4.08% and if we plan to lower it, we shall give atleast 30 days notice via the website and twitter ( https://twitter.com/freebitco). I'll add that to the FAQ soon. Yes, you can create a separate account but just play the free roll from 1 account and you will have no problems. |
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What are the risks using Freebitco.in as saving account?
If a hacker attack the site is there risk to lose our money?
We keep most of our liquid bitcoin in a mixture of paper and trezor wallets. You just need to keep your account secure with a strong password and 2-fa. The investment program sounds interesting. I just hope, it is not a "silver bullet" before closing the faucet  lol, it definitely isn't. If we wanted to do a runner we would probably offer some unreasonable rate of return like 120% to attract a lot more money. We changed our wallet and it started double-spending. We have fixed most of those transactions, only 6 more remaining. Please be patient as we need the network to confirm atleast one of those transactions and then we can manually re-send the other one. sorry for the inconvenience. serje and Mahdirakib please pm me your user id's for a bonus for reporting the bug. Just to be clear, the interest rate is fixed at 4.08% and if we plan to lower it, we shall give atleast 30 days notice via the website and twitter ( https://twitter.com/freebitco). I'll add that to the FAQ soon. |
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Sorry about that. We changed our wallet because the old one had become massive and it started double-spending from old outputs that were already sent before. We are trying to fix this asap and all payments will be resent as soon as possible. |
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Hi..is the freebitco 2017 apps owner are the same with website owner?
We don't have any apps. |
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I saw the new option, the one that let me earn interest, and what I find strange is that I have the interest rate the same as the RP number
That means if I stack RP I will also get a higher interest rate?
Thanks!
Sorry, I do not understand. The interest rate is fixed for all, regardless of RP. Also there is now an option in PROFILE to disable interest for those who may wish to do so for religious reasons or otherwise. |
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Now you blow up my mind! So I understand that mining is to cover interst of deposits/account balance, right? Or maybe you think also about renting some power - I mean something like cloud mining?
We buy and own all our miners, we do not rent "cloud mining" power because 75% of them are ponzi's and the remaining 25% are almost always unprofitable. You misunderstood me I know that miners are yours. I'm asking if you think to open in future something like cloud mining service and rent your power? Simply buying cloud mining power will most certainly not be profitable for users because they usually do not hedge against price and difficulty increases. We would prefer to manage everything ourselves and just give a fixed return to the user so that the investment is truly passive and risk-free for them. |
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Now you blow up my mind! So I understand that mining is to cover interst of deposits/account balance, right? Or maybe you think also about renting some power - I mean something like cloud mining?
We buy and own all our miners, we do not rent "cloud mining" power because 75% of them are ponzi's and the remaining 25% are almost always unprofitable.
With 4.08% interest annually, it's higher than interest on bank (around 2-3% annually).
Is there any assurance if something bad happened (hope not) with our money?
We plan to expand quite conservatively and do hedge against the bitcoin price rising too quickly or the mining difficulty jumping to ensure that we always make a profit in bitcoin (not only in USD). This way, growth is slower but profits are consistent and fairly predictable. If you mean that we could run away with your money, that is always a possibility but we probably stand to make more by running a honest business than by scamming. Also, it is a bit difficult to "run away" with a million dollars+ worth of equipment weighing a few tons. It wouldn't be too difficult for someone to track us or our miners. We have already invested over 1,000 bitcoins in the mining operation and unlike most other cloud mining service we do provide actual proof of mining. |
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"Your FreeBitco.in account is now also a bitcoin savings account!"
Congratulation Freebitco.in and @wetsuit! Very interesting idea! I am impressed with your marketing skills!
This is an example of how much can be done with patience and consistent actions!
I wish you many years of management like this and many further great ideas!
Well done!
Thank you for the kind words! We have now updated the page to include a signed message from the bitcoin address that we use for mining to prove that we actually do mine. You can also see our mining power at https://slushpool.com/stats/hall-of-fame/ (bottom left table, with username wetsuit) and at https://www.miningrigrentals.com/rigs/35192. The total of both places should be around 5.3 Petahashes but we have another 1.3 PH ordered and awaiting delivery (should be active in 7-10 days) and then another 0.6 PH in 1-2 weeks after that which should bring us to more than 7 PH. The additional capacity will show up at Slush pool when it has been installed. Also, below is a signed message from the address that we use for mining (also available in the website in the EARN BTC page): Address: 176sh81PQupUsFyX6hNL2PTYydSuL7Wu73 Message: This is the FreeBitco.in mining address where payouts from our mining operation are received. Signature: G/9zZX+eSDxwZ78L9IIpEabi2BDdzAH67/mGRxozOsSdWxWhunooqPEBlEVKdkS735hN/AbYTXssD57TLsrSO5k= Can be verified using your bitcoin client or at http://www.coinig.com. |
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Anyway, keep walking..
I have a suggestion for the sake of users. I strongly believe everyone agree with me on this.
At the moment any kind of bonuses is valid 24 hours after redemption - free BTC, lottery tickets or reward points.
What do i mean?
For me, presumably for every user, will be much better those bonuses to be valid for 12 hours, but at doubled stakes.
24-hours period is very long and nobody could use all 24 rolls effectively.
Contrary to this, a 12-hours period will be much more suitable for the regular user, who could not be able to utilize all 24 rolls round the clock.
Let's hope the admin of freebitco.in shall consider this proposal for the user's sake...
We are actually losing money with the free play redemptions even at 24 hours and it has a cumulative effect because over time more RP are collected and more bonuses are activated. If we make the bonuses last for only 12 hours, we would start losing money at an even faster rate which I feel would be unsustainable for us. Sorry, but I don't think this is something that we can implement anytime soon. Considering that you're losing money even at a 24-hour period, is this a feature that you'll consider removing from freebitco.in eventually? No we won't be removing it since the losses are sustainable. We also lose money with the lottery since most tickets are given out for free but the lottery and RP are both quite popular. |
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Anyway, keep walking..
I have a suggestion for the sake of users. I strongly believe everyone agree with me on this.
At the moment any kind of bonuses is valid 24 hours after redemption - free BTC, lottery tickets or reward points.
What do i mean?
For me, presumably for every user, will be much better those bonuses to be valid for 12 hours, but at doubled stakes.
24-hours period is very long and nobody could use all 24 rolls effectively.
Contrary to this, a 12-hours period will be much more suitable for the regular user, who could not be able to utilize all 24 rolls round the clock.
Let's hope the admin of freebitco.in shall consider this proposal for the user's sake...
We are actually losing money with the free play redemptions even at 24 hours and it has a cumulative effect because over time more RP are collected and more bonuses are activated. If we make the bonuses last for only 12 hours, we would start losing money at an even faster rate which I feel would be unsustainable for us. Sorry, but I don't think this is something that we can implement anytime soon. |
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Got an e-mail this morning about deposit bonuses for the pay to play section of the site. 100% deposit bonus for a 1 btc deposit. Is the bonus only for a 1 btc deposit, or is it a match up to 1 btc? Also, what are the restrictions on the bonus? For example, how are you protecting yourself from people who deposit to get the bonus, then withdraw the deposit amount to then play with the bonus money only?
The bonus is for deposits up to 1 BTC. The minimum is set at ~ $1. You don't even need to deposit, if you already have a balance more than the minimum, you can still claim the bonus. The bonus has a 40x wager requirement before it is added to your balance. The full terms are in the MULTIPLY BTC page. |
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Unfortunately when we were making Sunday payouts (and using the recommended fee for that time), the network congestion started and transactions have been stuck for 2 days now. We do however keep re-broadcasting transactions until they are confirmed so they will not drop off and will confirm eventually when the load is lower. Even if your wallet is not showing it as unconfirmed now because it's been a while, don't worry. It will appear after the transaction is confirmed.
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Hey, hello again, peoples I am a banned user, who was registered here a few days ago under the name Goldmacher. See my post above on this page! I would like to know why my previous account was locked after only 1 post. Probably the ideas, which i suggested, have been disliked from the user of freebitco.in & he has told to admin/moderator of this forum to ban me...? Who knows ? I don't know - first post in this forum ever with a few positive ideas for development or, at least, for consideration and ...boom  I wrote to the email-address , attached in message, informing for closing of the account, but after 2 days with no reply, decided to react in the topic. That's why i am very curious to hear from an administrator or moderator , which was the reason for suspending of my account ? Thanks for attention! Maybe you need to ask in the Meta section why you were banned. I have no authority in this forum and even if I did, why would I ban you for the post you made (and not delete the actual post)? |
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god damn my miners are on a roll!
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woo my lucky s9's hit a block in less than a week with ~ 500 TH!
I had these pointed at Kano before with ~ 560 TH and they found 5 blocks there in 2.5 months but my actual earnings from the pool was about half that, so I decided to try solo-mining and glad that I did!
wow! long time coming this block! congrats on your block! dont spend it in one place  your s9s are v1 or v2? They are v1 |
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woo my lucky s9's hit a block in less than a week with ~ 500 TH!
I had these pointed at Kano before with ~ 560 TH and they found 5 blocks there in 2.5 months but my actual earnings from the pool was about half that, so I decided to try solo-mining and glad that I did!
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Would it be possible for miners to set an email address to get notified if they hit upon a block? Maybe they could add it via the website using a signed message from the address they are mining to? It would be helpful for miners who mine long-term without them needing to check their wallet everyday.
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To compensate for the recent downtime we are running a 3x reward points promotion till the end of this week!
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To compensate for the recent downtime we are running a 3x reward points promotion till the end of this week!
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