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Author Topic: Why do some sites pay bitcoins for free?  (Read 494 times)
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March 24, 2013, 09:48:02 PM
 #1

I can't understand how some sites are paying me bitcoins for free, just by putting my bitcoin address in there?

Can they steal my money in the future or something?

Nobody gives money for free. Where's the trick?

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Mike Christ
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March 24, 2013, 09:49:33 PM
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I can't understand how some sites are paying me bitcoins for free, just by putting my bitcoin address in there?

Can they steal my money in the future or something?

Nobody gives money for free. Where's the trick?

Thanks

They're on a good will mission to spread the Bitcoins as far and wide as possible.  The best incentive is to give people them.  It's usually a very small amount, less than a penny.  And no, they can't take your money, as long as you're not flashing your private keys.  These are stored in your wallet.dat, so keep it safe.

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March 24, 2013, 09:53:21 PM
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Some websites earn more money than they spend giving you.
Basically you just put your address while unknowingly (adblock?) watching ads and generating traffic.
I bet some websites are making n times more than what they are giving you.

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March 24, 2013, 09:55:04 PM
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Some websites earn more money than they spend giving you.
Basically you just put your address while unknowingly (adblock?) watching ads and generating traffic.
I bet some websites are making n times more than what they are giving you.

That's true, and probably more likely.  The last time I checked, there was a Bitcoin faucet that gave away coins by whoever would put cash into it.  But I haven't looked into any freebie sites lately Tongue

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March 24, 2013, 09:57:07 PM
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I bet some websites are making n times more than what they are giving you.

That's difficult at the current exchange rate & with people trying to receive dozens of payments at once + trying to steal your wallet....
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March 24, 2013, 09:59:08 PM
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Why do you call them faucets btw?

What I mean is that I am going to websites where I just put my address and earn bitcoins for free. No ads, no action involved, nothing.

Can't understand it. They can't be making ad returns from that.

Are they tracking your ip and wallet adress maybe to steal money?
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March 24, 2013, 10:01:00 PM
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The Gavin's bitcoin faucet is dry long time ago since I cashed it out as much I could. Back then it was a way to introduce new users to Bitcoin. It was like giving sample of something, like small bite of pizza or something similar.

All other sites are sponsored by ads. They pay you only part of the profit from ads. They are relatively safe as long as you don't install anything from them and run secured web browser. They cannot steal your wallet or coins by knowing only the address.

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March 24, 2013, 10:02:45 PM
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Why do you call them faucets btw?

What I mean is that I am going to websites where I just put my address and earn bitcoins for free. No ads, no action involved, nothing.

Can't understand it. They can't be making ad returns from that.

Are they tracking your ip and wallet adress maybe to steal money?

The original bitcoin faucet was literally called a faucet and had a picture of a faucet Tongue  You metaphorically turned the dial and bitcoin came out.  If there's nothing on there, and they're only trying to give you coins, then refer to my first reply.  That's the only reason I know of; they can't steal your coins by your public address.  However, if you have adblock on, it's possible you're not seeing the ads that should've been there.  If they're handing out like, 0.00001 BTC or something, they def make more on ads than they do giving out coins.  Every view might earn them minimum a penny, and they'd still make a (very small) profit.

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March 24, 2013, 10:05:38 PM
 #9

If you are not paying for something that you are receiving then you are not the customer, you are the product that is being sold. (This is true of Free Bitcoin Sites, just as much as it is true of Facebook, and Google)

In most cases these websites sell eyeballs to advertisers.  The advertiser is the customer, and your eyeballs are the product that is being sold.

The operator buys the use of your eyeballs for a few seconds while you look at the page and see the advertisements.  Often the amount they pay you for this is so small, that it becomes impossible for you to use it since the transaction fee to spend what you've received is greater than what you have available to spend.  In other words you are losing money to the transaction processing network in the long term in order to receive this payment.

The operator of the website collects more from the advertisers per set of eyeballs that view the advertisement than what they pay you, much like a retail store collects more from their customers than they pay to the wholesaler for the products in the store.

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