can someone explain faucets to me and how they work?

[jjj0923]

I'm currently mining bitcoin and litecoin and see ads all the time for faucets

what are faucets, how do they work and why would I be interested in one?

thanks in advance?

[turvarya]

Faucets give you free Money.
There isn't really much more to know about it.

[romang]

I'm currently mining bitcoin and litecoin and see ads all the time for faucets

what are faucets, how do they work and why would I be interested in one?

thanks in advance?

not worth the time and trouble years ago they paid out good.

[jjj0923]

Faucets give you free Money.
There isn't really much more to know about it.

how can anyone afford to give you free money - something has to be given in return - they're not the fed - they just print mode money when they feel like the fed (here in the US)

[DannyHamilton]

what are faucets,

Faucets are services sold to advertisers.

how do they work

The faucet purchases the eyeballs of gullible people for unspendable fractions of a bitcoin.  Then they sell these eyeballs to advertisers at markup that provides the faucet operator with a substantial profit.

and why would I be interested in one?

If you value your time, and don't want to litter your wallet with unspendable dust, then you wouldn't be interested in one.

If you enjoy wasting time on a monotonous task that doesn't earn you anything useful, then you might want to check some out.

[BitCoinDream]

I'm currently mining bitcoin and litecoin and see ads all the time for faucets

what are faucets, how do they work and why would I be interested in one?

thanks in advance?

Here is what u r looking for...

How do free faucets pay ?

https://bitcointalk.org/index.php?topic=431978.0

[jjj0923]

what are faucets,

Faucets are services sold to advertisers.

how do they work

The faucet purchases the eyeballs of gullible people for unspendable fractions of a bitcoin.  Then they sell these eyeballs to advertisers at markup that provides the faucet operator with a substantial profit.

and why would I be interested in one?

If you value your time, and don't want to litter your wallet with unspendable dust, then you wouldn't be interested in one.

If you enjoy wasting time on a monotonous task that doesn't earn you anything useful, then you might want to check some out.

ok - my decision has been made -further research NOT required.

[TTBit]

A faucet is created to get people to use a new currency. This works economically when the cost of giving away a free coin is less than the value of having a new user of the currency. Faucets are initially funded by individuals who have a vested interest in a new currency, and are kept going by donations. I'd say bitcoin faucets are no longer economically viable - the margin gained by a new user is not worth a transaction fee.

[DannyHamilton]

A faucet is created to get people to use a new currency. This works economically when the cost of giving away a free coin is less than the value of having a new user of the currency. Faucets are initially funded by individuals who have a vested interest in a new currency, and are kept going by donations. I'd say bitcoin faucets are no longer economically viable - the margin gained by a new user is not worth a transaction fee.

This is true.

My comments were specifically tailored to "Bitcoin Faucets".

If you are interested in one of the hundreds of fad altcoins, then a faucet can be a reasonable way to acquire some.  In this case, I'd stick with faucets that have no advertising on the webpage.  These faucets are created by people who hold a substantial percentage of the currency and are willing to give away usable amounts for a short time to increase awareness and usage. They profit by the increase in spending power of their remaining currency as demand increases.

[roslinpl]

I'm currently mining bitcoin and litecoin and see ads all the time for faucets

what are faucets, how do they work and why would I be interested in one?

thanks in advance?

faucets are waste of time

Faucets gives you "free" money for typing captcha or watching some adv or something.
They have money to pay from adverts and donations.

They pay a very little and you will never get a lot from it
If you will get 0.1 btc from ALL faucets in a half year time - you are lucky!



Faucets are waste of time - but I might be wrong.

[softron]

There Mainly for creatin bitcoin awareness

[roslinpl]

There Mainly for creatin bitcoin awareness

Well and perhaps it does works somehow ...

[Tjopper]

They are for improving the interest in bitcoin.
Most of them will let you look at adds.

[eoJ]

I'm currently mining bitcoin and litecoin and see ads all the time for faucets

what are faucets, how do they work and why would I be interested in one?

thanks in advance?

not worth the time and trouble years ago they paid out good.

No they didn't? When? Maybe $0.15-0.20 at the time, per day, but not what I'd call good.

[5thStreetResearch]

they give out fractions of pennies for visiting their site

[hungpham]

if you want sth free, faucet is your choice. it's the first step to know what is btc

[roslinpl]

if you want sth free, faucet is your choice. it's the first step to know what is btc

I though 1st step to know what BTC is is visiting www.bitcoin.org and then youtube.com -> bitcoin, and then Bitcointalk

And you can earn a lot more @ #services than from any faucets.