[TUTORIAL] How to Earn 1 Bitcoin in a Week

[VirosaGITS]

I actually am running this experiment right now as well, basically trying this out for fun. Shortly after my post here on the 20th, I decided to create a YoBit account to test the OP's theory and to see if I could get performance similar to what I wrote earlier: https://bitcointalk.org/index.php?topic=1126751.msg11928241#msg11928241

I wanted to keep it realistic, meaning instead of just transferring .001 BTC in, I wanted to try and see what a person new to bitcoin with 0 invested would be able to do.

I began by using my test account's YoBit BTC wallet address, I hit up faucets for two days (all I could stand) and of course hit all the free coin buttons on YoBit which contributed some additional dust. I managed to accumulate ~ 0.00036 btc before becoming brain numb from the mindless clicking on those stupid faucets. Doing the math that comes out to just about a penny..... Not looking real good for initial investment, but hey a start.

Anyway, I then began looking at some coins on YoBit to invest in. Since my initial investment amount was miniscule, I only was looking at coins > 100 sat. I placed a few low-ball buy orders on a couple of coins that did not fill. At the time BIOS coin was newly released so I thought it may have some upside potential. I placed a buy order for 1440 BIOS coins which filled and I manged to snag some BIOS coins for 25 sat each.

Figuring it would have some good upside potential,  but wanting a fairly quick sell as in the OP, I figured a initial 5x profit potential was an good place to start. I placed a sell order for all the coins for 125 sat each and went to bed.

The next morning which was the 24th, I was pleased (but not surprised) by sell order went through. I see BIOS actually spiked a bit higher, but I was still ok with 5x return.

So far then my test account log looks like this:

July 20 - Created account on YoBit and began hitting faucets - Ending Balance: ~ 3600 satoshis in BTC (only hit a few faucets before going to bed).

July 21-22 - Hit various faucets including YoBit's free coins- Ending balance: 36,000 satoshis in BTC and some dust in other coins.

July 23 - Hit a few more faucets which should be coming in, by now was I was sick of captchas so decided to start with the trading. Invested 36,000 sat into 1,440 BIOS coins @ 25 sat each. Note: I am not keeping track of fees at this point, as figuring extra dust and faucets will initially cover this. If the experiment gets to higher gains where fees are significant (> .001 BTC) I will start tracking those too, but for now this is easier.

July 24 - My sell order of 1,440 BIOS coins for 125 satoshis filled. Researched other coins and not finding anything attractive decided to try BIOS again. It had dropped down to the 60 sat range so I placed low ball bid on 6,000 BIOS coins for 30 satoshi each. Balance now: 0.0018 BTC (180,000 satoshis).

July 25th - My order has not yet filled. Canceled order and placed new buy order for 4285 BIOS coins at 42 sat each. If this doesn't fill I will look at other coins, but think BIOS still will have some volatility as it is new.

I will update this as I go on. If I get some more profit I might even break it out in its own thread, but for now I would think it only of interest to people in here.

NOTE: The reason my amounts seem so rounded (i.e. 3,600) is due the fact that I found what I consider the least annoying faucet that pays 1,200 sat every 15 minutes. I found it easier just to click this once in awhile throughout the day than keep track of many others that pay even worse and have more hoops to go through. My only other source is the YoBit exchange, which only awards 1 sat in BTC every 10 minutes and the free other coins which I don't have enough accumulated to trade yet.

July 26 - After evaluating the YoBit coin selection and not finding too much interesting, I re-opened my buy order at 42 sat on BIOS. It filled yesterday, yea!? I now have 4285 BIOS coins I am looking to sell. I see the sell orders are ~50 and it looks like the spikes into the 100's are over, so I am setting a sell order at 84 sat, or a humble doubling.

I will keep you posted, but so far I think I have dispelled any earn 1 BTC in a week simply from faucets. It could be argued my investment strategy is wanting, which I freely admit it is, but I did not see any mentions of being an expert trader in the OP, so I think the experiment is still valid.

I will maybe let this run for 1 month and see how it goes. The volume on YoBit is pretty low, so if I can trade my investment up to a point where the transfer fees will not destroy it, I may move the amount to a different exchange with higher volumes.

Thanks for sharing. Be aware that there is often a much smaller spread on higher volume coins. But still, i've had doubts that this is 1btc per week because i've done it before. I did earn but nothing like that and i started with 0.03, so... xD

I'm even more sure this ain't a proper tutorial now. I was wondering if maybe i just did it wrong but, your experience is the same as mine over the course of 2 weeks.

[Proxiebuier]

Now im using yobit signature campaign like you say
and im waiting fo new coin above 100sat
i hope i can buy new coin like yovi from 1sat to 2000sat

[Shinpako09]

thanks for this..hope i can make a full bitcoin now..if i can't make 1btc in a week atleast in one month..

[notlist3d]

5 mbtc is quite a few, you can do better. Also altcoin trading is a nutshell
If you want to make money out of it
you should follow all the invested coin's topics, watch  close the news etc. It takes a lot of time.
 But yeah, it's really profitable that much.

i agree. you need to invest a lot of your time in it to be able to profit from altcoin trading

A lot of the time should be in research.  You should really know the coin's you are buying.   

If you buy just based on price, you are doing something wrong.

[Za1n]

Well instead of re-posting my entire experiment (you can read previous posts if interested), I will just say that today, July 27 saw very little movement in the price of BIOS, I actually sold a few at a lower price point and I may sell the rest as long as I can stay in profit. I am actively researching a good secondary coin, but the pickings are pretty slim, I seen vapor skyrocket, but think I missed the boat on that one.

I am not really worried about the small amount I have invested as much as I am determined to see if this is possible at all. I think the 1 week claim is now fully debunked, only an extremely lucky series of picks would do that, which as others have pointed out is more akin to gambling than investing.

I will stick with this for 1 month as mentioned earlier, but the volumes on YoBit are pretty small to make any meaningful decisions. It is pretty much put your money in a slot machine and hope you picked the pump of the day.

[mokahless]

So, your trading theory is that every altcoin lower than 100 sats rises automatically within days? 

It's funny because 2 of his 3 examples are now less than half their value. The third only went from 38 satoshi to 44 satoshi

NO PONZI, NO HYIP, NO GAMBLING, NO SCAM, NO STRINGS,YOU CAN START THIS TUTORIAL WITH 0 BITCOINS

Trading anything without insider information is gambling. Even if you see high chances and pay attention (some people are good at these things) it doesn't change the fact that it is gambling.

This is also a bit of hype seeing as you built up hype leading up to your article. A non-hyped article would be titled "how to trade alt-coins"

Also, how would I "do faucets" and earn 0.005 btc? I decided to experiment a 2 years ago and bookmarked 10+ faucets, coming back every day to do them and even used tor to get around some ip changes. My result? After a week, something along the lines of double digit satoshis. You either need to expand this section or remove it.

[donqisty]

Well, I give it a try today.. I transfer 0.005 BTC which I got purely from faucets and start trade at YoBit.

Following step by step above, buy 4 types of coin that less than 100 satoshis.

I will leave it for few days and will see the result. If something go wrong, yeah.. I think it is still ok since I start from free faucets 

[unusualfacts30]

Good advice OP

lol@ people getting butthurt and criticizing op

he is just trying to help.

[donqisty]

Hello to all,

I'm a totally newbie here and in Alcoins in general, I must say after reading the post and comments, I don't understand the critics and attacs, he said very clearlly that nothing is guarantied, that it's from is own experince and it worked for him,it's a sugiestions and demm nice one , must say.

Thanks for the guid, it gives a direction to think about.

Ben

Agree, at least we must thanks to OP for share about what he do, despite the result for follower differ from the title 

[VirosaGITS]

Hello to all,

I'm a totally newbie here and in Alcoins in general, I must say after reading the post and comments, I don't understand the critics and attacs, he said very clearlly that nothing is guarantied, that it's from is own experince and it worked for him,it's a sugiestions and demm nice one , must say.

Thanks for the guid, it gives a direction to think about.

Ben

Agree, at least we must thanks to OP for share about what he do, despite the result for follower differ from the title 

Yeah this isin't a bad thing to look out for, the title is just deceptive and inaccurate.

Beside this there's no reason to attack OP.

At least he isint trying to sell this "information". I've seen it happen here.

[klausalaa]

thanks for the that note but also u may lose most of yer coin on exchange it happened

[diodio1]

Good advice OP

lol@ people getting butthurt and criticizing op

he is just trying to help.

yeah he just trying to help us to get digression.
no one want bought dead altcoin, and op suggest us to bought them.

[slap]

Investing in debatable alt coins... brrr
I will give it a try if you fund my adress

1BCDUz5XSsfcTP7eR4G1MvTB8AYGPrUWJB

[VirosaGITS]

Good advice OP

lol@ people getting butthurt and criticizing op

he is just trying to help.

yeah he just trying to help us to get digression.
no one want bought dead altcoin, and op suggest us to bought them.

To be fair, he did say to NOT buy dead coins. He did say you need to buy coins with volume. Thus probably not dead coins.

The OP didn't post such bad information. It's just lacking depth.

Investing in debatable alt coins... brrr
I will give it a try if you fund my adress

1BCDUz5XSsfcTP7eR4G1MvTB8AYGPrUWJB

That's a pretty nice attempt to beg for BTC, if i ever saw one.

[unusualfacts30]

Good advice OP

lol@ people getting butthurt and criticizing op

he is just trying to help.

yeah he just trying to help us to get digression.
no one want bought dead altcoin, and op suggest us to bought them.

well it can't hurt to throw some btc in  just to test it..would it? obviously it might not work since all altcoins are different..some are pumped while some are dumped and then left to die.

throwing some 0.01 btc just to test it is not a bad idea imho...to each his own i guess

Would I do it myself? probably not since it looks time consuming but I wouldn't mind doing it if I had no btc.

If you have 1-5 btc there are better alts to make money than trying this but this might help people who have no btc

Also, I would add that invest in new altcoins since they have more chance of hitting bigger exchange and increasing in price and volume.

[slap]

...
1BCDUz5XSsfcTP7eR4G1MvTB8AYGPrUWJB
...
That's a pretty nice attempt to beg for BTC, if i ever saw one.

Thanks! See how I quoted you here and for convenience sake have forgotten to remove the adress? Subtle eh

[Za1n]

Well I have been trying this for over a week with not very good results. Still hoping for some big moves in my coins, but except for one good pump, I been lucky to cash out with small profit.

The small initial investment does not allow for too much buying and holding without risking the entire investment, as even though the OP suggested coins with volumes of .1 or higher, this can literately evaporate and you end up being stuck holding useless coins. A higher initial investment would allow purchasing of coins values at more than sub 100 satoshis, which hopefully would be past the flash in a pan stage and actually have some future.

Anyway, I still have some funds I am playing around with on Yobit, so who knows, maybe I will get lucky.

As to those who think this is somehow attacking or criticizing the OP, I think we are just testing the viability of his theory. Myself, I am not doing it to prove or disprove anything, but merely doing it for the fun and intrigue of seeing if such a feat is possible. I find no harm in reporting my findings, as I feel truth is neutral. If the truth conflicts with your version of things, it is you who has the problem and not the truth.

The truth in this case is several people have attempted this, and with the exception of the OP, no one has reported back that they managed to turn faucet dust into 1 BTC, in one weeks time, by trading on YoBit.

[BTCLovingDude]

the way that OP is suggesting has a very huge risk involved with it and i don't think it is a good idea for anybody to try it unless you want to lose your bitcoins

[VirosaGITS]

the way that OP is suggesting has a very huge risk involved with it and i don't think it is a good idea for anybody to try it unless you want to lose your bitcoins

Why is investing 1$ in bitcoin a huge risk? But yes it is gamble-y. You're making it sound like it's worse than it is though, it's not a bad starting point, you're just supposed to do more research on the coins you're investing. There's a great deal of information you can get in a coin before investing that can give you an idea of where it might be heading... or where it might not be going

[Sarthak]

I bought 1733.333 CS with 0.01 Bitcoins at 750 satoshi per coin...now the selling price has decreased to 303 satoshi :/