The term and word (free coins) is completely wrong

[DdmrDdmr]

<…> There was once a time when a totally legit faucet gives you free 50BTC.

And some people soon learnt how to exploit them fairly quickly, forcing developers to adapt and throw-in counter measures to block their loopholes: Who's the Spanish jerk draining the Faucet? (this thread is particularly amusing to me).

The use of the term "free" is often really more of a "low cost of opportunity", generally involving someone’s personal time, as opposed to making a purchase. Faucets I figure fall under this conception, although with less and less ROT (Return on Time) as time goes by.

<...>

Is there a missin "b" in the last phrase?

[actmyname]

The use of the term "free" is often really more of a "low cost of opportunity", generally involving someone’s personal time, as opposed to making a purchase. Faucets I figure fall under this conception, although with less and less ROT (Return on Time) as time goes by.

And that's where it is: we can choose to be pedantic however we want but the idea of "free" is a very fluid definition. WLOG this can also be applied to nearly every single word in existence, and beyond that, every single thought in existence - who's to say that I can't define X as Y? Convention? Status quo? From a meta standpoint those cannot be infallible means and processes for which we determine validity. Let's be honest: most of the time, you look upon the word "free" as "no monetary cost" and to that extent, unless you're being extremely anal about external costs (i.e. electricity, physical energy, etc) faucets should be considered "free money".

[Darker45]

<…> There was once a time when a totally legit faucet gives you free 50BTC.

And some people soon learnt how to exploit them fairly quickly, forcing developers to adapt and throw-in counter measures to block their loopholes: Who's the Spanish jerk draining the Faucet? (this thread is particularly amusing to me).

And that's how the story of the 50BTC falling all the way down to 0.5BTC.

Now I found out it wasn't just all about the price exponentially rising. It was more of how a tonto/a de España found a way to bite the hand that fed him/her. Freely!

And made even more amusing due to Satoshi responding to it:

4. Make the standard amount given away 0.5 Bitcoins (Bitcoins have gone up 10 times in value since I started the Faucet).

Definitely time to lower it.

The use of the term "free" is often really more of a "low cost of opportunity", generally involving someone’s personal time, as opposed to making a purchase. Faucets I figure fall under this conception, although with less and less ROT (Return on Time) as time goes by.

It has to be made much much lesser to the point of becoming worthless probably to discourage abusers.

As to the term "free," delving into its real meaning deeper would drag the entire discussion into a metaphysical one. And there seems to be no point for it. After all, there is no such thing as nothing to begin with.

[crwth]

It’s not just in cryptocurrencies but anywhere in the world in which is something that says it’s for free there is usually an exchange for something. Most of the time it’s for your valuable personal information like name, email address, and contact number.

Everyone probably experienced this one time or another.

Personal information are one of the most important thing that you should not share with others because they can probably use your information to the future.

I wouldn't agree with you completely because it would depend on what you are exchanging it for. I mean if you do it online, it's quite hard to give trust on the website unless it has a great reputation everywhere. I believe that if you were to read the privacy policy of the one you are going to submit your personal information, they couldn't use that information without permission and wouldn't share it with any other corporation or something.

[hatshepsut93]

actually there are. for example during 2017 whoever owned any amount of bitcoin (own means having the private key of the address holding those "coins" not having it on some exchange) received more than 50 different coins for free. all of them are shitcoins but they could all be dumped for valuable bitcoin so it was free money.

but generally speaking you are correct. every time you see someone is promising "easy money" they are most probably lying and are trying to scam you. it is definitely a scam if you are supposed to download/install something.

Receiving forked coins still doesn't count as free coins, because you had to invest in Bitcoin in the first place. People who are too broke to own any meaningful amount of coins couldn't get any forks.

And that's where it is: we can choose to be pedantic however we want but the idea of "free" is a very fluid definition. WLOG this can also be applied to nearly every single word in existence, and beyond that, every single thought in existence - who's to say that I can't define X as Y? Convention? Status quo? From a meta standpoint those cannot be infallible means and processes for which we determine validity. Let's be honest: most of the time, you look upon the word "free" as "no monetary cost" and to that extent, unless you're being extremely anal about external costs (i.e. electricity, physical energy, etc) faucets should be considered "free money".

Faucets require a ton of time and very repetitive work in order to receive "free" money, to the point were it can be considered a very bad job. If the reward/effort ratio was much higher, then they could have been considered free coins.


I think the best example of free coins was airdrops - you just had to post your altcoin address and you received coins that you could then dump on exchanges. In earlier days you could get a couple of dollars worth of coins from each such airdrop, if you managed to sell it.

[actmyname]

Faucets require a ton of time and very repetitive work in order to receive "free" money, to the point were it can be considered a very bad job. If the reward/effort ratio was much higher, then they could have been considered free coins.

This is when we get pedantic and try to work out the rigor of what threshold of reward:effort is required to deem the term free. Once we get to this point, semantics and linguistics break down into pathetic squabbles over definitions. I'll stick to my "no monetary cost" definition and you can stick to your reward/effort ratio definition and we'll have a good time.

After all, does something stop being free when I have to put in a few extra joules of work into it, or does it just require a bit more effort?

[Lordhermes]

a person bypasses one CAPTCHA and through this CAPTCHA the site gets 100 Satoshi, the site pays 20 Satoshi to the user and he still has 80 Satoshi profits

These processes is a good one to understand but who gives the site 100 satoshi, wouldn't the site completed some task to earn such satoshi? Let me understand how the site gets their 100 sat.

Actually, it's true that nothing in crypto community is free, even airdrop as said as free is faulty, back then in 2017 when only submitting ETH address without tasks gives you free token. Ethereum blue was the free coin someone got that time.

[MCDev]

That's right, there is no such thing as free, everything has its price. Even for the aridrop you will take time and a bit of effort to be able to receive it.
If you get a penny and you don't put in any effort, I guess it's a dump.

[Digitradez]

OP you couldn't be more wrong. People were getting 20k usd a pop when Raiblocks( now known as Nano) did their distribution. Some good projects out there had fair distribution models, just because you got suckered into bad projects doesn't mean there aren't free coins out there that gain value down the line.

People literally made millions of dollars in a single day if they held their nano from the distribution.

I still remember when Bitcoin faucets were handing out 5 bitcoin a day for free. The key is you have to be early in a coin. Also a lot of coins had free sign ups that gave you a ton of coins and if you held it was an easy 50k usd + like xrp and nem.

[hatshepsut93]

a person bypasses one CAPTCHA and through this CAPTCHA the site gets 100 Satoshi, the site pays 20 Satoshi to the user and he still has 80 Satoshi profits

These processes is a good one to understand but who gives the site 100 satoshi, wouldn't the site completed some task to earn such satoshi? Let me understand how the site gets their 100 sat.

Actually, it's true that nothing in crypto community is free, even airdrop as said as free is faulty, back then in 2017 when only submitting ETH address without tasks gives you free token. Ethereum blue was the free coin someone got that time.

There are services that offer an api for bypassing captcha, this can be used by regular users to remove captchas, or by automated programms like scrapers and bots. Such services work by employing actual humans to solve captchas for a payment and sending the results back to customers all in real time. But to work this service needs to have a large pool of workers so that captchas can be finished within their time limit.

It may be possible that Bitcoin faucets actually act as such services, provided they have hundreds of users solving captchas at any given time.