Is Bitcoin faucet a good idea right now?

[RishabhTegra]

Hello everyone.

I got a simple question for you all.

I am planing to start a bitcoin faucet right now.
I wanna know, IS opening a new bitcoin faucet a good idea right now.

My faucet will features:
> Good satoshi payouts with good refferal commission.
> Bitcoin earning mobile applications
> A News page for bitcoin updates
> A chat page for real time chatting. (40% of the revenue generated from chat page will be donated to charity)
> And some other features small.


What do you think are bitcoin faucets still profitable in 2016 or the days of bitcoin faucets are off!

Oh! yes wait a second.
Did i mentioned that my faucet will also provide a feature that will allow you to exchange your bitcoins direct to PayPal.

[talkbitcoin]

first of all you should move the topic to services discussion or micro earning board.

and i think faucets are not as profitable as they were before but still can be a little profitable.
the only good feature that is important for visitors is the "high payment" and "high referral percent" the rest is just useless IMO.

[Kprawn]

I think the interactivity with the chat feature will make it unique. I would have liked to have discussions with the members of my referral network to keep them motivated to continue using the faucet. I will host

small competitions for these members to add extra income to the 3 top referrals for example. I find that people sign up with your referral and use it for 2 to 4 weeks and then suddenly stop. If I have say 100

referrals and I earn for example $200 per month from them... I would take 50% of that and give it back to the top 3 performers to motivate them. So I think it is a good idea, if you could somehow list the

referrals and then enable some sort of communication with them. Good luck.. Let me know if you did that, and I will join up to build that referral network. {Donations for the idea is welcomed} 

[Snail2]

Your profitability is pretty much depends on the geographical location of your visitors, as advertisers used to pay less for asian or african visitors than what they paying for for visitors from western countries. So you should target your site well, and also take a good care about marketing.

[wwbtcfaucet.us]

Faucet was only profitable in early stage (2009 to early 2012).
Features in your faucet is very common and people find it boring and exchange bitcoin to paypal is pretty useless because what you earn from faucet is just too small.

Don't put too many ads or people won't visit your website.

Not true..
I created a faucet + BTC news site;

BTCnewsFaucet.com , I launched a month ago and I'm having some decent traffic atm. Hopefully more people will discover my website!

Twitter: @NewsFaucet
Bitcointalk thread: https://bitcointalk.org/index.php?topic=1398905.0

[RishabhTegra]

Thank you all for your reviews.

I think Bitcoin faucets are still profitable as many of the users worldwide are making a living on them.

According to Bitcoin survey, An user can earn 200 to 8000$ per day using faucets only.

[maokoto]

200 to 8000$ per day using faucets? I do not think that is possible at all. More like 50 cents 2 Dollars, at least you have tons of referrals.

[superscommessebitcoin]

if more faucet continue to work and already more faucet open every day, i think is profitable, only depend on satoshi for hour , % ref and add a good protection for bots

[onlinedragon]

I think it's only good to start with brand new faucet when you know how to beat the bots. When you can't win the fight against the bot it will only cost you money.

[mrcash02]

I think it's only good to start with brand new faucet when you know how to beat the bots. When you can't win the fight against the bot it will only cost you money.

Yes, it's true. If you don't have much knowledge about programming, informatic you will need to hire others to make faucet site, bots protection, features, and it means more costs to pay! Always try cheap and trusted third-party services. (Try cheap host server too).

And there is always a chance to be hacked anyway. You need to refill faucet with low amounts each short time periods to make it more profitable and safe, so if someone try to hack, you won't lose many satoshi.

[The Sceptical Chymist]

I never owned a faucet but I've used many, and I'd say yours would have to have excellent features not seen in other faucets in order to be competitive--and there is going to be lots of competition.  Have you seen all the faucets that are in the Faucetbox network?  And that's just one.  There's Xapo faucets and god knows what else.  So yours has to be at least as good as the others just to get a little business.  Good luck to you, but I have a feeling it's not going to be the money-making machine you think it is.

[hoop]

I think it's only good to start with brand new faucet when you know how to beat the bots. When you can't win the fight against the bot it will only cost you money.

improve protection of your faucet is important task.

200 to 8000$ per day using faucets? I do not think that is possible at all. More like 50 cents 2 Dollars, at least you have tons of referrals.

nowadays it's no more than $1 : $2 per day.

[RishabhTegra]

Thank you all.

1. My faucet will cost only 80$ a year to make all expenses included. (dev. + hosting)
2. I am using triple layer of security against bots.
3. Yes, my faucet will include few features different than other faucets.
4. I know i wont be a millionaire after running a faucet but i am sure that in the end of run i will make some good profits.

Thank u for your generous reviews.
I will make a good faucet will good features.

[geekbasic]

My opinions:

1. Are you educated with SEO?
2. Do you know how to program?
3. Are you experienced with web development/mastering?
4. Do you have a good method of hosting that is cheap/free? (using your home connection for example)
5. Are you using your personal computer to host or a cheap thin client?
6. Do you have an original and memorable concept to implement so your site is able to fill it's own niche.
7. Are you doing the EXACT same thing as 1000 other popular websites?
8. Are you willing and able to keep up with the changing demands of the industry? (market prices, bots, etc)
9. Is your goal JUST to make money or is it to actually provide a service?
10. Are you willing to continually grow, update things, and learn from your mistakes?

[RishabhTegra]

My opinions:

1. Are you educated with SEO?
2. Do you know how to program?
3. Are you experienced with web development/mastering?
4. Do you have a good method of hosting that is cheap/free? (using your home connection for example)
5. Are you using your personal computer to host or a cheap thin client?
6. Do you have an original and memorable concept to implement so your site is able to fill it's own niche.
7. Are you doing the EXACT same thing as 1000 other popular websites?
8. Are you willing and able to keep up with the changing demands of the industry? (market prices, bots, etc)
9. Is your goal JUST to make money or is it to actually provide a service?
10. Are you willing to continually grow, update things, and learn from your mistakes?

Whoa a whole lot questions! But i am gonna asn. that.

1. Yes i am educated on SEO (Google/Bing)
2. Nope i dont know coding but i will hire a developer who is a frnd of mine.
3. I am not mastered in web development but i do know how to promote and marketize website with low cost.
4. Yes i've got a cheap but fast hosting service.
5. No i am not using my personal compute, A whole new client will be arranged.
6. Yes ive got some ideas of mine own but the faucet dispense will be the same s others.
7. Nope, mine faucet will be different than others.
8. Yes i am sure about that but i will try my very best to compete with the market.
9. Yes of course my first goal is to make money but not my fooling customers. I will try to provide best bitcoin faucet to users and will make decent profit upon it.
10. Yes that is the best part, Learn from mistake to make perfection.

I think that will be enough from my side.
SO what do you think?

[geekbasic]

It appears like you have a good chance. My point with the questions is to help you understand the demands of a faucet.

If you are depending on outsourcing, then apply these questions to your sources as well.

[defined]

>(40% of the revenue generated from chat page will be donated to charity)

Faucet users want money, donating to charity is no reason to visit a faucet. You can make it optional for people to donate, just like freebitco does.