Is YOBIT Altcoin collecting worth the time and effort?

[jeffthebaker]

You have to start doing due dilligence on the actual development of these coins and the technology behind them.

    That's good advice. I understand due diligence perfectly well. Caveat Emptor. I've read up on every coin that has ever sparked my interest and especially before I spent my own BTC on them. Naturally.
    
    There are hundreds of coins at YOBIT and I see the buy and sell orders happening. I also see the chatter about which coin is "pumping" or "dumping". But I still couldn't even guess which coin is going to turn a profit tomorrow.
    
     Are you saying it's possible that 10% of the coins there have a chance?   Is there any source you would like to recommend to all of us know-nots that might help in our research? How would you gather your info?

     I still have a positive feeling with a very skeptical approach about this site.

Sounds to me like you already have the resources you need to dump faucets and start really trading. Take the coins you like, then focus in on the ones with good and growing community support.  If it's a shitcoin, trade it on to it, don't hold too long. If it's not a shitcoin hodl it on Poloniex for a while.

[mkmdoc]

     I've been a member at YOBIT for a few weeks now and I've been collecting from their long, long, long list of altcoin faucets. It takes around twenty minutes to make it through the whole thing. I have over 200,000 various altcoins.  There was a 0.00002000 BTC claim on there that was just taken off the list. That one was definitely worth solving the one captcha. As for the value of the rest of the coins, I couldn't even name 1/20 of them, the highest valued amount I have is 44709.0 PAC which equals exactly 0.00044709 BTC. That is one of the lower valued coins at 0.00000001 BTC Per coin. There are several claims for PAC on their list ranging from 0.00000001 to 1000.00000. Then out of the other hundred or so types of coin in which I have a few hundred thousand, the total value in BTC is only 0.00080000ish. With the minimum sell amount of 0.0001....... I don't know..... I've gone screwy eyed....You get my point though. I hope.
     
 I was very excited when I stumbled upon this site but as I become more acquainted with the terminology and increase my overall understanding of this strangely wonderful market, I can't help but wonder where the profit might be and why are there so many free coins on their list? If one could actually profit from the collection of these "shitcoins", wouldn't it be more popular?

I know my post is all over the place. It does accurately portray my mixed feelings on the topic though.

     Thank You if you made it through this jumbled up post and double thanks for any knowledge you may impart on to me.
        ChrisBin702

You are completely wasting your time on spending shit coins because you need to find their ANN in bitcointalk and go through it whether it is worth able are not before collecting in the yobit faucets. Instead of wasting on shit coin in yobit,almost many coins in yobit are already at 1 satoshi.

[coin-investor]

Yobit is not a good faucet to begin with,if you want a good coins with value you should participate in their signature campaign,or instead prefer bitcoin faucets,because as we all know,the value keeps increasing..

[CHRISBIN702]

You have to start doing due dilligence on the actual development of these coins and the technology behind them.

This is the proper word in my opinion and you should heed this advice,you don't collect aimlessly,you need to see the actual thread and how people react to those coins you are collecting if it is really worth it,don't go around aimlessly collecting as many coin as you can..

Yes. That is more or less the approach I've been taking. But if I see a coin that has 100.0000 up for grabs, I'm grabbing it anyways. Just in case. It only takes a few seconds.

[CHRISBIN702]

You have to start doing due dilligence on the actual development of these coins and the technology behind them.

    That's good advice. I understand due diligence perfectly well. Caveat Emptor. I've read up on every coin that has ever sparked my interest and especially before I spent my own BTC on them. Naturally.
    
    There are hundreds of coins at YOBIT and I see the buy and sell orders happening. I also see the chatter about which coin is "pumping" or "dumping". But I still couldn't even guess which coin is going to turn a profit tomorrow.
    
     Are you saying it's possible that 10% of the coins there have a chance?   Is there any source you would like to recommend to all of us know-nots that might help in our research? How would you gather your info?

     I still have a positive feeling with a very skeptical approach about this site.

Sounds to me like you already have the resources you need to dump faucets and start really trading. Take the coins you like, then focus in on the ones with good and growing community support.  If it's a shitcoin, trade it on to it, don't hold too long. If it's not a shitcoin hodl it on Poloniex for a while.

Thank you. That was a refreshingly polite way to deliver some constructive criticism. I will take what everyone has said here in to consideration and definitely change my approach. Thanks again Mr. Jeff

[senyorito123]

You have to start doing due dilligence on the actual development of these coins and the technology behind them.

    That's good advice. I understand due diligence perfectly well. Caveat Emptor. I've read up on every coin that has ever sparked my interest and especially before I spent my own BTC on them. Naturally.
    
    There are hundreds of coins at YOBIT and I see the buy and sell orders happening. I also see the chatter about which coin is "pumping" or "dumping". But I still couldn't even guess which coin is going to turn a profit tomorrow.
    
     Are you saying it's possible that 10% of the coins there have a chance?   Is there any source you would like to recommend to all of us know-nots that might help in our research? How would you gather your info?

     I still have a positive feeling with a very skeptical approach about this site.

Sounds to me like you already have the resources you need to dump faucets and start really trading. Take the coins you like, then focus in on the ones with good and growing community support.  If it's a shitcoin, trade it on to it, don't hold too long. If it's not a shitcoin hodl it on Poloniex for a while.

Thank you. That was a refreshingly polite way to deliver some constructive criticism. I will take what everyone has said here in to consideration and definitely change my approach. Thanks again Mr. Jeff

You should watch for the price per coin first before you collect them since mostly the coin who's been listed at their free faucets are shitcoins does doesn't have value nor so low, but if you really like to collect free coin who's got more huge price then just create a twitter account and join for those various altcoin bounty campaign's where located at altcoins section, and surely you can earn huge with that rather than spending some time on wasted coins.

[xuan87]

unfortunately the answer is no, most of the coin worth almost nothing, and it need verification to collect the coin, i think faucet offer better than yobit altcoin, I used to collect it, but when i convert and calculate, it is just too little so I stopped and never collect it again

[Red-Apple]

when they were a new exchange still, just to try their services out i tried their site and one of the places i tested was this free coins, it was bad back then too, but it got terrible when they let everyone put up crap coins as small as 1 satoshi if crap coin which makes it a very small amount and there is no way of filtering it and last time i checked there were at least a couple of thousands of them there.

you can try those coins for testing some dice strategies and maybe do some YOLO plays there with for example betting 1 million of some of those shitcoins that are worth nothing.

[Bodhicoin]

They didn't happen to have any VAL on the free coins did they?
j/k
Hey ChrisBin, I think that most people went through the same learning experience with those poopcoins. Once my eyes readjusted after days of free coin claiming I threw some dice, gained a few specs of BTC dust and realized Yobit is worth a little sumth'in...as a training ground for many things crypto. I still drop by almost daily and those BTCs were nice. Every now and then people need a tax write-off and I think that's the main purpose.

 BodhiCoin

[aioc]

Not worth the time and effort I have tried it one time and only collected 1000 sats equivalent the whole day,I could do better on other bitcoin faucets,from then I never bother to look on their free coin again.

[CHRISBIN702]

They didn't happen to have any VAL on the free coins did they?
j/k
Hey ChrisBin, I think that most people went through the same learning experience with those poopcoins. Once my eyes readjusted after days of free coin claiming I threw some dice, gained a few specs of BTC dust and realized Yobit is worth a little sumth'in...as a training ground for many things crypto. I still drop by almost daily and those BTCs were nice. Every now and then people need a tax write-off and I think that's the main purpose.

 BodhiCoin

Ok. I see clearly now common consensus on this topic. I have to break up with YOBUTT. I'm glad I came here to get advice from the community before I risked any of my own BTC at this time killer.... Two weeks of my life..... Well, you live and you learn.
I would like to thank everybody for your insight. And YOBIT...... Sorry, but I have to remove you from my bookmarks bar. 

[CHRISBIN702]

HA! VAL!!! I just got it while I was having a flashback of that stupid list. LOL

[Yuuto]

     I've been a member at YOBIT for a few weeks now and I've been collecting from their long, long, long list of altcoin faucets. It takes around twenty minutes to make it through the whole thing. I have over 200,000 various altcoins.  There was a 0.00002000 BTC claim on there that was just taken off the list. That one was definitely worth solving the one captcha. As for the value of the rest of the coins, I couldn't even name 1/20 of them, the highest valued amount I have is 44709.0 PAC which equals exactly 0.00044709 BTC. That is one of the lower valued coins at 0.00000001 BTC Per coin. There are several claims for PAC on their list ranging from 0.00000001 to 1000.00000. Then out of the other hundred or so types of coin in which I have a few hundred thousand, the total value in BTC is only 0.00080000ish. With the minimum sell amount of 0.0001....... I don't know..... I've gone screwy eyed....You get my point though. I hope.
     
 I was very excited when I stumbled upon this site but as I become more acquainted with the terminology and increase my overall understanding of this strangely wonderful market, I can't help but wonder where the profit might be and why are there so many free coins on their list? If one could actually profit from the collection of these "shitcoins", wouldn't it be more popular?

I know my post is all over the place. It does accurately portray my mixed feelings on the topic though.

     Thank You if you made it through this jumbled up post and double thanks for any knowledge you may impart on to me.
        ChrisBin702

Well in my opinion it is definitely a waste of time. PACoins if I remember correctly doesn't even have a buy wall which means that you have to rely on a buyer to buy from your sell wall. You're probably like the last person to place the order at 1 satoshi, god knows how many people are before you.

Ify ou are into collecting coins and stuff, I'd say that faucets are a good start for bitcoin newbies. Bitcoin faucets especially when they have a micropayment processor like ePay pay way more than Yobit and has no fees to withdraw.

[nocryinginbtc]

Yobits volume is 3 time Bittrex because they have fiat. Bittrex is dying.

[Spoetnik]

Yobits volume is 3 time Bittrex because they have fiat. Bittrex is dying.

hey now, there is nocryinginbct (bct = bitcointalk)

Does 'Trex ask for your picture ID ? Serious i don't know.

[Lauren Smith]

I think you probably better off picking up bubblegum off the sidewalk. It would be worth much more. I never even knew there was a coin you got 2000 satoshi for the captcha. Thst is worth it but ofcoarse they realized that and took it away and that is really all you need to know. I wouldn't bother with any kind of faucet.

[Herbert2020]

NO!

all those altcoins you see as free are actually shitcoins, 90% of the list consists of 0.00000001 amount of a shitcoin which is worth 0.00000001BTC or less which means 90% what you are claiming from their free list is worth 1e-16BTC

and since you mentioned PAC i have to say after checking it, it is a dead coin and it's value is actually a lot less than 1 satoshi, because first of all there is no buy order and only sell orders at 1 satoshi with nobody buying them and in other exchanges there is no bitcoin pair and the other pairs (such as Doge/Pac) is worth a very tiny amount.

in conclusion you are wasting your time even if there was a one time 2000 satoshi claim.

its not worth for OP times to collecting the coins, better to trading in yobit or playing dice if OP can play. if OP still want to get free coins, there is many list of coin that OP can get but my suggestion, only get with coins that have a chance to gets pump.

both things you said are bad. trading on yobit is a terrible decision because the legit coins that are found elsewhere have no trading volume and when they have it is face 700BTC volume and the orders in the orderbook are too thin you can't even make any trades.
and the dice game is not even fair, it may be good to test things if you are bored and have time to waste but wasting time is not good either.

Why does Yobit exist.. ask yourself that question.

Never been there even once, nor will i 

you are missing out on seeing how stupid an exchange can be. they are incapable of hiding their fake pumps it is too obvious you burst into laughter ...

Does 'Trex ask for your picture ID ? Serious i don't know.

they haven't asked me for any kind of documentation yet
and i think there is a limit for amount you want to withdraw like 2000BTC per day for users like me without documents? i forgot.

[bravehearth0319]

NO!

all those altcoins you see as free are actually shitcoins, 90% of the list consists of 0.00000001 amount of a shitcoin which is worth 0.00000001BTC or less which means 90% what you are claiming from their free list is worth 1e-16BTC

and since you mentioned PAC i have to say after checking it, it is a dead coin and it's value is actually a lot less than 1 satoshi, because first of all there is no buy order and only sell orders at 1 satoshi with nobody buying them and in other exchanges there is no bitcoin pair and the other pairs (such as Doge/Pac) is worth a very tiny amount.

in conclusion you are wasting your time even if there was a one time 2000 satoshi claim.

On this things you have a big point, Yeah your right most of the coin in yobit are 0.00000001BTC,  which means those coins in there are shit, but why yobit stand for years up to now? Because even is like that many of the traders in yobit still investing in the shitcoins because there is pump and dump happening. that's the reason why it takes long to stand firm now.

[poloniexwhale]

Never buy any coin in yobit, it is dangerous, there are many fake pumps there, I think the whales(exchange owners) scam traders.

[clickerz]

unfortunately the answer is no, most of the coin worth almost nothing, and it need verification to collect the coin, i think faucet offer better than yobit altcoin, I used to collect it, but when i convert and calculate, it is just too little so I stopped and never collect it again

I agree with you and I used to collect from Yobit too  during my early days in bitcoin. But I think, faucets is much better since what you got is in bitcoins already.Some coins on Yobit for collection has until now has no value, but I discovered some of its purposed, I used it to play in their dice game.