Thank you for clarifying this key point. The interest rate is 4% APR, which stands for Annual Percentage Rate (i.e., the amount of return you receive after 1 year). We pay 1/365th of that 4% each day so you start getting paid immediately and so your interest paid then earns interest going forward.



Exactly! And it's a lot more interest than banks are paying in many western countries. The EU is talking about negative interest rates. And in the US interest rates are at 1% or lower.

Randomguy, we have something better than that bonus now available - we pay 4% annual interest, paid daily on balances over 30,000 satoshi! If you need a link you can see my signature.

Join us!

Do you have a checking account with a bank? An online bitcoin wallet is no different. If you go to your fiat bank your money isn't sitting in a safe somewhere, it's just an online record of what the bank owes you and a promise to pay you back.

I realize that fiat banks have insurance and government intervention and such, but it's still just based on the trust you place in that bank that if something bad were to happen they'd honor the insurance they promise.

Online wallets have great uses...and obviously each person has a different threshold with the trust they need to use bitcoin, use an exchange, use an online wallet, and so on.

Whatever your threshold is, know that we're the only online wallet option paying you interest for the trust you place in us.

How did you arrive at 2-3 cents for the average roll? The top Free BTC roll prize is $200, it's fixed along with all prize levels below it, regardless of the price of bitcoin.

Feel free to chat about it here, keep the conversation on the Forum where everyone interested is hanging out!

Hi all, I thought I should introduce myself. I'm the Community Manager for FreeBitco.in.

Great thread topic here! And I like the variety of opinion in the discussion.

A few comments for you to consider:

(1) Offering interest on your a balance and referring to ourselves as an online wallet are really no different, as soon as you start to hold bitcoin in a single place you're using it as a wallet

(2) The reason we put up the notice about transaction confirmation times is because we want to recognize the latency that exists on the blockchain with some transactions - we offer TWO transaction options:

• Normal: fast as possible confirmation, with appropriate fee for the speed
• Slow: longer duration confirmation, with extremely low transaction fees

(3) We're a business and we need to grow and adapt with the market like every other successful business does

We're paying 4% APR interest - that's 4% on your balance each year and we pay a portion of that every single day. There's no minimum time frame, no contract, and the minimum balance is 30,000 satoshi.

No other bitcoin faucet or wallet is paying interest on your bitcoin holdings. So keep us in mind for the bitcoin you keep online!

Cheers!

Ahh, I'm with you. You can recruit as many referrals as you want! They just have to be honest referrals...you can't set up a bunch of accounts referred by you.

I've tried to get people to share their tips for gaining referrals, but that talk has faded some. Are you familiar with the referral URLs for your forum signature, website, or emails?

Referral team? Tell me more.

NDS17, I read your story and wanted to thank you for your business. Gambling is a lot of fun in so many ways, but it can be difficult too. If it's no longer fun to gamble, you should stop. And if you need help talking it through you should PM someone (including me if you want.)

And you should consider letting us give back to you a bit through the interest we offer on deposits. You don't need to go to the site for anything more than to deposit a balance. The interest pays every day, automatically.

We're talking about 4% APR, it adds up quickly. It's just a small sign of our appreciation of your business and that of others!

Good luck to you!

There's nothing like the original! But I love the idea...there should be several Litecoin faucets.

Just please remember which faucet is paying 4% APR on all deposits! 

Yeah, Mindragon, let's talk about lies.

Here's your first PM to me stating that you lost 1 BTC and want it refunded: http://imgur.com/a/RDFfU

You claim you thought the Multiply BTC bonus was a bonus just for depositing BTC with FreeBitco.in...and that the bonus was yours to gamble with.

I replied quickly with a message empathizing with your misfortune and sharing that the terms and conditions of the offer are very clearly displayed immediately below the "Confirm" button and that we don't refund gambling losses (unless there were some system error). I also mentioned that wetsuit was out of town for a weeks so it would take some time to discuss it.

Then you return with a new explanation of why you accepted the offer, accusations that we've hassled you for gambling, and a proposal for why we should refund you your money: http://imgur.com/a/BniJX

You were on the path to earning back, working for that 1 BTC you lost. And then you started crying "SCAM!" and "LIES!" and trolling us and this thread. You burn bridges faster than wildfire.

Stop your nonsense here, move on.

Yeah, Mindragon, let's talk about lies.

Here's your first PM to me stating that you lost 1 BTC and want it refunded: http://imgur.com/a/RDFfU

You claim you thought the Multiply BTC bonus was a bonus just for depositing BTC with FreeBitco.in...and that the bonus was yours to gamble with.

I replied quickly with a message empathizing with your misfortune and sharing that the terms and conditions of the offer are very clearly displayed immediately below the "Confirm" button and that we don't refund gambling losses (unless there were some system error). I also mentioned that wetsuit was out of town for a weeks so it would take some time to discuss it.

Then you return with a new explanation of why you accepted the offer, accusations that we've hassled you for gambling, and a proposal for why we should refund you your money: http://imgur.com/a/BniJX

You were on the path to earning back, working for that 1 BTC you lost. And then you started crying "SCAM!" and "LIES!" and trolling us and this thread. You burn bridges faster than wildfire.

Stop your nonsense here, move on.

Mahdirakib,

I believe this may be an issue with your browser or network not allowing you to connect to the site. This can happen when networks (at an office for example) restrict access to sites related to blogs, gambling, social media, etc.

I'm able to connect to FreeBitco.in without any issue. It sounds like holydarkness can as well. It's unlikely that holydarkness and I would be free from problem if this were a system issue with the site.

Thanks for bringing it to our attention, we'll still investigate on our end.

Cheers.
Myfe.

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!

Mindragon, it's been 1 week since I asked you to remove the negative trust rating you gave me. Your rating is baseless.

Since you haven't honored or responded to the request I've left you an equal amount of negative trust.

Here's the link for all to beware: https://bitcointalk.org/index.php?action=trust;u=131102#newfeedback

Remove your negative rating for me and I'll do the same for you.

How the free roll numbers are calculated are available on the site. From the Free BTC menu click on "Provably Fair" and you'll get the detailed information

There's been a lot of talk about the house edge. The house edge exists with every casino, that's how the business works.

What FreeBitco.in does to compensate YOU for some of that house edge comes in all that we give back to you - paying interest on deposits (no other casino does this!), free tickets to be entered in the lottery, free rewards points to be used to earn back more BTC via the faucet, the list goes on.

The open talk is great, let's not forget the entire picture! Thanks to all of you for your loyalty and action!

Can you send photos of your history?

But MexicanTarget is correct - as the price of BTC goes up the value of each free roll goes down. The value of the free roll payouts is fixed to pay the same amount in fiat at each level regardless of the BTC price.

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!