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Gifted
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August 10, 2015, 06:12:28 AM |
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Trouble may be brewing for some of the leading bitcoin faucet operators, as problems persist with three of the main micro wallets used by sites in this area of the bitcoin ecosystem. The market has been dominated up to now by three different operators – Microwallet.org, Coinbox.me and BitChest.me – which for years have steadily churned out bitcoins to thousands of bitcoin users. However, in recent weeks Bitchest stopped dispensing, and their bitcoin wallet address has gone quiet. Now in the last few days, Microwallet.org put up a notice that there was a bug with the Blockchain.info API, and was offline yesterday, but back up again today with a notice saying that withdrawals will be processed in the next 24 hours. So can these issues be overcome, or is writing on the wall for these sites?
I have been looking into faucets for the last few weeks for some personal research, and have several accounts on these sites over the threshold. I can confirm that two of the three, MicroWallet and BitChest, indeed have stopped dispensing.
Dismissed by many for the tiny amounts of bitcoin they give to end users, these faucets still have served an important entry gateway into bitcoin for a number of years now, enabling people to get their hands on their first bitcoin. I think the first thing that people find out is that there are easier ways to get their first bitcoins. But as many people are exposed to new brands and service, whether good, bad or shady, a number of these users will go on to buy or trade bitcoins on exchanges, buy mining hardware to generate bitcoin themselves. or invest in cloud mining services.
Users visit the sites, usually plastered with advertising, and fill in a captcha and their bitcoin wallet address. A small amount (anything from 10-500 satoshi) is then transferred into an associated micro wallet, and the visitor needs to wait for a specified cool-down period from five to 240 minutes before being able to repeat the process. People then can systematically do this across several sites using the same micro wallet, which builds up. Once they pass the bitcoin network’s 5430 minimum payment threshold , a payment is queued to be sent to a large batch of users on a set frequency.
The faucet business model is relatively straightforward. They start with an initial amount of bitcoin to get them going, and then they are monetised either through affiliate links to bitcoin merchants, advertising from bitcoin ad networks or Google advertising, or donations from users. Faucets also cross promote a range of similar sites on different domain names, and then offer users a percentage of any referral they bring in. As long as these numbers and volumes are maintained, it should cover itself, but it is also easy to knock the metrics out of line, with a drop in traffic, large fluctuations in bitcoin’s price, or operators losing interest.
The market has also moved on somewhat, with a shift away from sites that look like they were designed off an old geocities template, and more professional sites such as Moonbit.co.in and BitcoinZebra.com offering a different take on the concept – usually with much larger payouts into their own wallet. A number of dice gambling sites like 999dice.com and freebitco.in offer a faucet as a way to be drawn into their games with the intention of getting people to make a lodgement and gamble it on the site.
So we’ll have to wait and see what happens with these micro wallets; will they start working again, or will they shut down overnight without warning? Either way, this area of the bitcoin ecosystem is going through a shakeup which means opportunities for new entrants into the market.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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hasiramasenju
Legendary
 Offline
Activity: 980
Merit: 1000
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August 10, 2015, 07:19:22 AM |
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i'm sr member rank and i can earn a lot more bitcoin from signature campaign than claim a faucet site
but i really still use a it until this moment and there is no definite reason why i still use a faucet and i just love to do it
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Scaccomatt0
Legendary
Offline
Activity: 1120
Merit: 1000
https://cryptoworld.io
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August 10, 2015, 08:06:21 AM |
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I have made 64 posts this week. That's about BTC.0065 this week from signature campaigns. I will only be earning more as I rank up. You're a fool if you were to go back to faucets from sig campaigns...
Faucet and sig. campaign are two different things. You can earn from both of them. I still use faucet cause I love to "spent" some times around and playing with faucet. |
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Gifted
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August 11, 2015, 11:34:34 PM |
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I agree i don't know why i use the faucets either ..its more like a habit !! Faucets have changed my life. Its allowed me to get use to bitcoins as a payment and to understand bitcoins in y noob youth. Recently i added a faucet to my website that pays 27000 satoshi an hour. Since i cant put my ref link here ,go to the website and look at the first one on the list under top faucets http://bitcoinfaucetrelay.com |
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EXtremeAEX
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August 12, 2015, 01:24:32 PM |
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I used to visit faucets all the time and earn about 0.002 btc everyday, and at that time I still thought it was quite much, considering that I got something out of nothing. But in the end, I got sick and tired of entering captchas and all the time and now I'm very busy, so not much time for faucets. I still think that there are too many faucets out there, just wanting to earn some from the ads, but I dont think it will be very profitable for them unless they really think of a creative and new idea. Now, occasionally I still visit some of the best faucets out there, but definitely not as frequent anymore.  Might as well dedicate this time on something else, right?  |
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ixus
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August 12, 2015, 02:22:57 PM
Last edit: August 12, 2015, 02:46:38 PM by ixus |
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umair01
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August 12, 2015, 03:57:24 PM |
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at the moment , I'm no longer in the process of using faucets as it gives less rewards compared to other methods we could earn on this forum but occasionally I try to do some faucet as it was a hobby in the past
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winspiral
Legendary
Offline
Activity: 1778
Merit: 1026
Free WSPU2 Token or real dollars
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August 14, 2015, 05:20:17 PM |
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Yes i use faucets daily...it's sure satoshi...
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trinaldao
Copper Member
Legendary
Offline
Activity: 1218
Merit: 1007
Post your ann & bounty just contact me
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August 15, 2015, 07:55:45 AM |
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i use faucet just for tester now im stop playing bitcoinrobot because im booring to wait upgrade level |
INVALID BBCODE: close of unopened tag in table (1)
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goinmerry
Legendary
Offline
Activity: 2940
Merit: 1083
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August 17, 2015, 04:00:47 PM |
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Yes Im still using faucet and listing the best faucets out there in my list. All faucets in my list are giving 500 satoshis minimum.
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chaser15
Legendary
Offline
Activity: 2688
Merit: 1065
Undeads.com - P2E Runner Game
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August 17, 2015, 04:10:18 PM |
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Yes i use faucets daily...it's sure satoshi...
Yeah sure slow satoshis. Well much better to have one rather than nothing. |
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goinmerry
Legendary
Offline
Activity: 2940
Merit: 1083
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August 20, 2015, 03:35:29 PM |
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Use a faucet just now. I like Xapo faucets since it has a direct payment on the wallet rather than transferring it first to third party processor.
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grosminer
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August 20, 2015, 05:27:43 PM |
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Yes i still use faucets
I'm addicted to faucets!
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winspiral
Legendary
Offline
Activity: 1778
Merit: 1026
Free WSPU2 Token or real dollars
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August 20, 2015, 05:43:49 PM |
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Yes i still use faucets
I'm addicted to faucets!
so I am too (lol) Faucet is THE invention of the last 100 years. |
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fruito
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August 20, 2015, 05:58:23 PM |
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Yes i still use faucets
I'm addicted to faucets!
so I am too (lol) Faucet is THE invention of the last 100 years. Did you still use rotator for smaill reward, just make your faucet to earn with it or maybe make free faucet no deposit(faucet rotator) to earn from your reff. see my personal message i make it by blog for free. |
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winspiral
Legendary
Offline
Activity: 1778
Merit: 1026
Free WSPU2 Token or real dollars
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August 20, 2015, 06:02:38 PM |
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Yes i still use faucets
I'm addicted to faucets!
so I am too (lol) Faucet is THE invention of the last 100 years. Did you still use rotator for smaill reward, just make your faucet to earn with it or maybe make free faucet no deposit(faucet rotator) to earn from your reff. see my personal message i make it by blog for free. Nice list you should add my two faucets. |
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Enes
Newbie
Offline
Activity: 20
Merit: 0
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August 20, 2015, 06:26:27 PM |
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I was using faucets for a week, but I can make more btc gambling. So it's waste of time for me now.
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Gifted
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August 21, 2015, 04:32:44 AM |
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Yes i still use faucets
I'm addicted to faucets!
so I am too (lol) Faucet is THE invention of the last 100 years. Did you still use rotator for smaill reward, just make your faucet to earn with it or maybe make free faucet no deposit(faucet rotator) to earn from your reff. see my personal message i make it by blog for free. Nice list you should add my two faucets. what is your faucets?? i will add to http://bitcoinfaucetrelay.com |
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Gifted
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August 21, 2015, 04:34:17 AM |
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Use a faucet just now. I like Xapo faucets since it has a direct payment on the wallet rather than transferring it first to third party processor.
this is the best Xapo faucet list on the net google rating number 3 http://bitcoinfaucetrelay.com |
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winspiral
Legendary
Offline
Activity: 1778
Merit: 1026
Free WSPU2 Token or real dollars
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August 21, 2015, 02:01:26 PM |
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Yes i still use faucets
I'm addicted to faucets!
so I am too (lol) Faucet is THE invention of the last 100 years. Did you still use rotator for smaill reward, just make your faucet to earn with it or maybe make free faucet no deposit(faucet rotator) to earn from your reff. see my personal message i make it by blog for free. Nice list you should add my two faucets. what is your faucets?? i will add to http://bitcoinfaucetrelay.comI send you a PM |
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