I was just reading an article on the subject of cryptocurrency, and decided to see the exchange rate of bitcoins to GBP... £180! God damn!
I decided to look into it further, specifically on how to attain bitcoins... I wasn't going to spend my money on them, they can be rendered almost worthless in a short period of time.
But I heard about bitcoin faucets, where I can get them for free... Apparently a method of distributing them to get the whole bitcoin thing started.
Then I found out you can actually change bitcoin into real cash... See where I'm going?
For anybody here who knows anything about this, can you tell me if it's possible to use the faucets to acquire bitcoins, then sell them?
Example: I get 1 bitcoin, I go onto an exchange site and sell it and receive £180.
I looked at one such exchange site, and most people were only interested in buying very short amounts of bitcoin... So there's obviously an incentive on both sides to conduct a transaction.
Is this correct?
I feel that this is insanely easy to do, and it perplexes me as to why everybody isn't doing it. Or maybe they are, and I'm in the dark about it... After all, I have only just stumbled on this information.
If "everybody isn't doing it" there must be something about it that makes it not such a good deal. In this case, it's the payout amount. The payouts are low but it can be fun and there's a gambling element. Keep hunting around on this site and you'll find other ways to make or earn bitcoin. And most importantly...welcome to the community!
If you want bitcoin news check out
www.coindesk.com.
Good luck!
