Lootbits is not a faucet.

I quote the following from their ToS page:
"The Website serves as an online based game".
"The credits and balances on the Website are intended to be used on internal features of the Website."
"None of credits, balances or other rewards on the Website have real monetary value. User balances do not place the Website under an obligation and can be changed or nullified by the Website at any time and without prior notice."


You cannot earn anyway as I cleared above, though collecting points is easy. Here's a screenshot of my account right now:


Believe it or not, I didn't complete any offer. didn't invite anyone. did it all by myself collecting free gems and opening boxes on a daily basis. it takes about 10-15 days to reach the highest level. from there you start to get 35 points/gems/boxes per hour + another 5 from the daily poll + another 75 from the daily clicking target (which you can do by yourself). and if you're lucky you can get an extra 420 playing one of their gambling games (Jungle). so as you can see it's easy to get several hundred points everyday.

But the thing is no matter how many points you have. you'd have to spend months (3 months at least) to reach the WORTHLESS threshold, because they determine how much credit you get. they control everything.
You know the popular saying: "the house always wins"? well that applies to this kind of websites too. They make you believe that you're winning, only to benefit themselves eventually.

If it's too good to be true, it probably is.

They don't need to run ads on their front page. they'd rather keep it clean to attract users to signup, then they would show them ads on ALL pages.


You're exactly right.

I'm just curious to know what the withdraw button does. haha. I just want to click it and see what will happen.

Their ToS clearly states that no one will get paid any kind of real money. it's just a game. you can only use your credit for gambling on their website. the credit has no value. it's just a number.

With that said you would think that they're honest and transparent. that they're not bluffing anyone. BUT there is a section where you put your Bitcoin address to receive your payment after you reach the threshold. so I would assume that they're not as honest as one might think. they're probably liars. They're contradicting themselves!

Given that they're using every way they can to gain profits from their traffic (Ad views, surveys, referral links... etc) It's obvious that they would consider mining too, especially when you know that other similar sites offer mining as one of the ways to get credit. popspins.com for example. same business model. another website to skip.

Collecting lots of gems is easy, but the thing is their value decreases as your balance grows.

I managed to reach the highest level and got to 69% without taking surveys or referring a single person. So I can get hundreds of gems daily, but the amount of rewards I get decreases as I progress, and despite that I was willing to continue playing their game to the end, but now that I know they're abusing my machine. I'm not willing to do that anymore.

My point is, you don't need to do any referring to get the benefit of that which is gaining lots of gems, but even if you do have thousands of gems, you probably won't reach the threshold in months, if ever.

Update:
https://bitcointalk.org/index.php?topic=5147043

You're welcome


Exactly.

Here's:
https://bitcointalk.org/index.php?topic=5137468

I noted that 10 days ago:

Right

Update:
I'm at 68% right now.

The rewards I get at this point are few hundred Satoshis. sometimes even lower. as low as 37 Satoshis! haha

Maybe they will pay someone the minimum threshold eventually, but it would take a very looooooong time to reach it.

They will milk the players/users for as long as they can. It may take months or years to reach the threshold and it you might never reach it after all. even if you have thousands of gems.

I'm almost certain that no one got paid yet. It's almost impossible. or perhaps it is.

Yeah, absolutely. Don't waste your time on it and don't invite others to join it.

The problem is that people have very little patience, so they start promoting the website to get more gems, not knowing that they won't get anything good in return eventually.

I never invited anyone, and won't recommend a website to others before I make sure that it is legit.

Their #1 goal is to make users take surveys so that they make money. that's why they make it the most profitable way in terms of gaining gems.
So people think "Let's be smart here, instead of waiting hours to get a few gems, let's take surveys and get thousands of gems quickly" which is not so smart actually.

I didn't take any of their surveys, although they promise to give 700 gems for a single one.
The point is, I don't want to fall to their trap, I don't want them to scam me and benefit from me as they wish, so I'll just continue to open boxes.
It's easy, only takes a few minutes everyday and it's fully automated.
You can use a mouse recorder to collect gems and open boxes for you automatically.

Currently, the maximum amount of gems I can get per day is about 600. my average is about 200.
Right now I'm at 65% of the threshold and my progress is 1% per day, so it may take a month to reach 100% and I'm not in a hurry.


Yeah, yeah, yeah. It is a scam (probably), but as I said, I'll continue to play the game out of curiosity. I just wanna see what will happen when I reach 100% and hit the Withdraw button.
What will they say?, what excuse/error message will they give?, will my balance stay as it is or not? just curious.

You bet I will


There's something fishy about that video. it's -- at least partially -- fake, and you can check for yourself.

See the addresses? https://youtu.be/TckgYMnd43s?t=410
Here you can see the real transaction: https://www.blockchain.com/btc/address/1t85aSCzJVCnvc8WLGWkD6hyPNQ6fWcRM

Around $7 worth of Bitcoin sent. Nowhere near $300.

Another clue is that the total wallet balance includes the values of all cryptocurrencies, not just Bitcoin, so how come he has $0.07 worth of Bitcoin Cash and the Total shows only his BTC balance?
https://youtu.be/TckgYMnd43s?t=368
It should be 299.1 not 299.03

And hey! Bitcoin price yesterday was $60,51.48? I thought it was $6k not $61. what the heck!
FAKE

Notice that the price in Orange is the real price, and the one in Blue is altered.
Epic fail...

He probably altered the values with the help of the inspector tool in the browser. which is a very easy thing to do.

To prove that, here's an example:


As you can see I put crazy random numbers, although I can be more accurate if I want.

It sure is. and I don't know how they can be "Real Bitcoins" and yet have no monetary value! It seems to me like flat out lying.


Based on my experience, about 70% of the boxes are empty, and that doesn't include the badge-boxes which are worthless after you complete your collection of the 36 unique badges, which I did. so we're left with about 10% of Bitcoin-fraction boxes.

BTW, I'm at level 4 right now, so I get 25 boxes per hour. but since I reached that level I haven't received a single xp point (you level up every time you collect 100 xp points - 5 is the highest level).

Note that I used to get around 9k Satoshis per credit-box at the beginning, and now I get around 1.5k. So I guess the reward is fixed to be around $5 worth of Bitcoin per day if you collect most of your gems, no matter what level you're at, how much your balance is or how many boxes you get.

With all that said, I gotta admit that Lootbits has the cleanest design of all scammer sites I know (if it is proven to be so), and that's what makes me come back and continue to play, plus my sense of curiosity to know the end of it.

On their homepage they say: "Open Free Boxes Win Real Bitcoins!", "Get the BTC winnings sent directly to your wallet! We process withdrawal requests multiple times per day."
And on their ToS page they say: "None of credits, balances or other rewards on the Website have real monetary value.".

Also, what kind of website asks its users to use different IPs?
I only see that as a way for them to gain more profits from ads and surveys.

Think about it.. it takes about a month to reach the minimum withdrawal threshold; How can they pay the thousands of people that are using their website 0.049 BTC a month each?!
That's about $250-$300 per user at least.

How much money are they making to pay that much for just viewing a handful of ads?

It's too good to be true.

You can add to that the alteration of algorithms to pay users less as their balance grows, so that it would take much longer to reach the threshold than first thought.

And the most important thing is what they themselves say in their ToS page:
"User balances do not place the Website under an obligation and can be changed or nullified by the Website at any time and without prior notice."
Hahaha. so they can change your balance to 0 at anytime. and you have no right to complain because you already agreed to the ToS when you registered.
Even if you want to complain, you can't. They don't even have a contact page. no email, no Fb page, nothing.

Notice that the word "Website" is capitalized, which indicates that the ToS are copied from a different website, with the name of the original website replaced with the word "Website".
For example, these two websites have the same ToS:
https://btcsmash.io/tos.php
https://tokenrush.com/tos.php

Do not trust any of them.

Edit: Although I'm almost certain that they're scammers, I'm giving them the benefit of the doubt, and I'll keep playing that game to the end. until I know for sure what will happen when I reach the threshold.
I'm currently at 64%.

Don't waste your time. I'll waste mine for us all and let you know when I'm done