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Author Topic: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest  (Read 379052 times)
Kakmakr
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March 01, 2018, 12:27:36 PM
Last edit: March 01, 2018, 12:38:50 PM by Kakmakr
 #5361

#TheQuin, you are missing my point.

With all due respect, I think you missed mine. If you have a balance of 0.00030000 you could deposit say 0.01 and then withdraw 0.01030000 and avoid collecting dust that way. Obviously, you need to wait for your moment like now when the mempool is empty and you can get a 1 sat/byte transaction through to do it, but it will save you in the long run.


My reply was not meant to offend you.  Wink ... Your method require two things. 1. Faucet users need 0.01 BTC <+/- $100> to do that, which most might not have, and 2. It requires two transactions < One to deposit the 0.01 from your Bitcoin address and one to move it back, which is subsidized by Freebitco.in with batching or subtracted from your balance? >

Mine only needs 1 transaction, but a longer waiting period to move it to your Bitcoin address. The problem is not with the tx from Freebitco.in, because the fee is usually low. The real problem come in when you want to spend it. <Then you pay the normal miners fee, which would be higher, if your Bitcoin address gathered a lot of "dust" over time.>  

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TheQuin
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March 01, 2018, 01:00:08 PM
 #5362

#TheQuin, you are missing my point.

With all due respect, I think you missed mine. If you have a balance of 0.00030000 you could deposit say 0.01 and then withdraw 0.01030000 and avoid collecting dust that way. Obviously, you need to wait for your moment like now when the mempool is empty and you can get a 1 sat/byte transaction through to do it, but it will save you in the long run.


My reply was not meant to offend you.  Wink ... Your method require two things. 1. Faucet users need 0.01 BTC <+/- $100> to do that, which most might not have, and 2. It requires two transactions < One to deposit the 0.01 from your Bitcoin address and one to move it back, which is subsidized by Freebitco.in with batching or subtracted from your balance? >

Mine only needs 1 transaction, but a longer waiting period to move it to your Bitcoin address. The problem is not with the tx from Freebitco.in, because the fee is usually low. The real problem come in when you want to spend it. <Then you pay the normal miners fee, which would be higher, if your Bitcoin address gathered a lot of "dust" over time.>  

0.01 was just used as an example, it could be any amount. I was suggesting it as a way of combining inputs and withdrawing at the same time. I got a 1 sat/byte transaction confirmed in the first block this morning, so doing something like that would make sense.
As there's no minimum deposit amount at freebitco.in it can be a good dust collector from other faucets as well.

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March 01, 2018, 01:54:00 PM
 #5363

Example : At the average Bitcoin price of $10 000, you can buy 9606 Satoshi for $1. The average miners fees has been about $1 and the likelihood of paying that with a Bitcoin address with multiple "dust" deposits is plausible. So, you need roughly 9606 Satoshi to cover your miners fees. < 9606 / 20 Sat/h = 480 hours or 20 days if you do this 24 hours of the day, with no sleep >

In your opinion, what amount of Satoshi would be sufficient to make it worth it to withdraw it from Freebitco.in?
https://bitcoinfees.info/

You assumed average miners fees $1 at 9606 Satoshi, in fact the average wasn't based on that but satoshi/Byte
example below is when you withdrawn from Freebitco.in everytime you reach >30k sats balance
for every single utxo "dust" deposit the tx size will be ~192 bytes (148+34+10) with cheapest rate 1s/B like now
if you have 5 utxo worth 30k sats (=150k sats), ~790s tx fee at 1s/B, 790 sats (0.53%) to move 150,000 sats
 
it would be less if you're using segwit address to hold your "dust" deposits
so for every (minimum) 30k sats, you need ~192s fee which is 0.64% of amount transacted
don't consolidate your "dust" amount when the fee crazy high as in last december Tongue

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March 02, 2018, 05:28:31 AM
 #5364

#TheQuin, you are missing my point.

With all due respect, I think you missed mine. If you have a balance of 0.00030000 you could deposit say 0.01 and then withdraw 0.01030000 and avoid collecting dust that way. Obviously, you need to wait for your moment like now when the mempool is empty and you can get a 1 sat/byte transaction through to do it, but it will save you in the long run.


My reply was not meant to offend you.  Wink ... Your method require two things. 1. Faucet users need 0.01 BTC <+/- $100> to do that, which most might not have, and 2. It requires two transactions < One to deposit the 0.01 from your Bitcoin address and one to move it back, which is subsidized by Freebitco.in with batching or subtracted from your balance? >

Mine only needs 1 transaction, but a longer waiting period to move it to your Bitcoin address. The problem is not with the tx from Freebitco.in, because the fee is usually low. The real problem come in when you want to spend it. <Then you pay the normal miners fee, which would be higher, if your Bitcoin address gathered a lot of "dust" over time.>  

0.01 was just used as an example, it could be any amount. I was suggesting it as a way of combining inputs and withdrawing at the same time. I got a 1 sat/byte transaction confirmed in the first block this morning, so doing something like that would make sense.
As there's no minimum deposit amount at freebitco.in it can be a good dust collector from other faucets as well.


1 sat/byte is definitely on the lowest spectrum of the average fee for the last few months. This is why I added the URL :
https://bitcoinfees.info/ for you to see what the average was over a longer period.

Example : At the average Bitcoin price of $10 000, you can buy 9606 Satoshi for $1. The average miners fees has been about $1 and the likelihood of paying that with a Bitcoin address with multiple "dust" deposits is plausible. So, you need roughly 9606 Satoshi to cover your miners fees. < 9606 / 20 Sat/h = 480 hours or 20 days if you do this 24 hours of the day, with no sleep >

In your opinion, what amount of Satoshi would be sufficient to make it worth it to withdraw it from Freebitco.in?
https://bitcoinfees.info/

You assumed average miners fees $1 at 9606 Satoshi, in fact the average wasn't based on that but satoshi/Byte
example below is when you withdrawn from Freebitco.in everytime you reach >30k sats balance
for every single utxo "dust" deposit the tx size will be ~192 bytes (148+34+10) with cheapest rate 1s/B like now
if you have 5 utxo worth 30k sats (=150k sats), ~790s tx fee at 1s/B, 790 sats (0.53%) to move 150,000 sats
 
it would be less if you're using segwit address to hold your "dust" deposits
so for every (minimum) 30k sats, you need ~192s fee which is 0.64% of amount transacted
don't consolidate your "dust" amount when the fee crazy high as in last december Tongue

I disagree that $1 was not the average miners fee for the last couple of months, but both of us wants to cherry pick numbers to prove our point. The fact of the matter is that faucet users should time their withdrawals based on the current miners fees to maximize their profits. They should not just withdraw their few Satoshi, when the withdrawal limit is reached.

Every Satoshi count, when you getting 20 Satoshi/hour from these faucets. I have stopped gathering Sat from faucets for years now, but I know some people still do that. We must help them to get the most out of that. Some of the Sat that I did get back then are now worth much more, so I more than made up for the miners fees, if I had to use it now. <Back then we used to get about 1000 Satoshi/h > 


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TheQuin
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March 02, 2018, 05:59:22 AM
 #5365

1 sat/byte is definitely on the lowest spectrum of the average fee for the last few months. This is why I added the URL :
https://bitcoinfees.info/ for you to see what the average was over a longer period.

Not to go too far off-topic but that chart is "Historic daily average Bitcoin transaction fees". Obviously, the average is a lot higher than the 'minimum required' as a lot of services pump out high fee transactions and pass the cost on to their customers regardless of the state of the mempool.

Anyway, when I am consolidating inputs I wait until I can get 1 sat/byte before doing it.

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March 02, 2018, 07:34:17 AM
 #5366

Even though the memory pool is completely empty and you can get away with 1-2 sat transactions it might not be like that in the future.

Hence to reduce customer complains they always use a higher fee to make sure it always gets confirmed by the next block or two.

Maybe if segwit actually works in reducing load, they might lower the fees maybe.





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March 02, 2018, 09:13:28 AM
 #5367

Unless you get very lucky with the faucet, most people aren't getting lots of satoshi's from that avenue. Saving up RP to buy RP boosters and subsequently "Free BTC Bonus" boosters though...

...now that's a different story.
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March 02, 2018, 11:14:19 AM
 #5368

Even though the memory pool is completely empty and you can get away with 1-2 sat transactions it might not be like that in the future.

Hence to reduce customer complains they always use a higher fee to make sure it always gets confirmed by the next block or two.

Maybe if segwit actually works in reducing load, they might lower the fees maybe.

Yeah, the memory pool is quite empty now but fees should really not even be so volatile as well. Mass adoption of segwit might indeed improve the situation, but problem is a lot of services are pretty much stubborn to implement segwit. I think there aren't a lot of companies or service that have massively encouraged the use of segwit there are only a few.
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March 05, 2018, 03:12:30 PM
 #5369

I know that Myfe is often here, that's why im asking. I'm just hinting to that such delays, like today, are not normal... Lips sealed

Have you met the minimum withdrawal limit yet? I see a lot of newbies complaining about late withdrawals, but they have not yet reached the minimum withdrawal amount. Most of these withdrawals end up as "dust" in their Bitcoin address and when they want to use that money, the miners fees absorb most of that.

I would like to know from my fellow Freebitco.in users, how many of you have actually used the money that you withdrawn from this site. <At roughly 20 Satoshi/h it would take you months to cover the miners fees, when you want to spend it from your Bitcoin address>

Example : At the average Bitcoin price of $10 000, you can buy 9606 Satoshi for $1. The average miners fees has been about $1 and the likelihood of paying that with a Bitcoin address with multiple "dust" deposits is plausible. So, you need roughly 9606 Satoshi to cover your miners fees. < 9606 / 20 Sat/h = 480 hours or 20 days if you do this 24 hours of the day, with no sleep >

In your opinion, what amount of Satoshi would be sufficient to make it worth it to withdraw it from Freebitco.in?
https://bitcoinfees.info/

  



Sorry, but I learn freebitco.in very well since I've joined it about 2 years ago. I'm not a newbie Smiley Unfortunately I'm a looser more than newbie:
https://i.imgur.com/0ApWh1y.png
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March 06, 2018, 01:47:02 AM
 #5370

Sorry, but I learn freebitco.in very well since I've joined it about 2 years ago. I'm not a newbie Smiley Unfortunately I'm a looser more than newbie:


I think you have chosen a wrong site to play dice game because you already know that this site has got 5% bankroll which will be eaten up your money even faster.

You need to be lucky to make a money from this game and our experience will not matter much. 6+ BTC is not a small amount at current market price so you should know now gambling is not for making money.
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March 06, 2018, 04:30:58 AM
 #5371

Sorry, but I learn freebitco.in very well since I've joined it about 2 years ago. I'm not a newbie Smiley Unfortunately I'm a looser more than newbie:
https://i.imgur.com/0ApWh1y.png

I think you have chosen a wrong site to play dice game because you already know that this site has got 5% bankroll which will be eaten up your money even faster.

You need to be lucky to make a money from this game and our experience will not matter much. 6+ BTC is not a small amount at current market price so you should know now gambling is not for making money.

A little bit correction, it should be 5% House Edge instead of Bankroll. Smiley
I do not think he is wrong to play at freebitcoin, maybe he like it so much so he do not really care about house edge or maybe he did not notice that it has higher house edge compared to usual dice game.
I'm wondering, when did he lose that much BTC. If it was happened years ago, means that he lost few thousands or even few hundreds dollar only. But if he lost it in the last few months then it is so big amount.

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March 06, 2018, 05:37:42 AM
 #5372


A little bit correction, it should be 5% House Edge instead of Bankroll. Smiley
I do not think he is wrong to play at freebitcoin, maybe he like it so much so he do not really care about house edge or maybe he did not notice that it has higher house edge compared to usual dice game.
I'm wondering, when did he lose that much BTC. If it was happened years ago, means that he lost few thousands or even few hundreds dollar only. But if he lost it in the last few months then it is so big amount.

Yeah, HE only means you are going to lose your money faster on average. You may choose to play at freebitco.in because you like it for other reasons.

And I think the lottery tickets and reward points they give you when playing the multiply game decrease HE, am I right?
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March 06, 2018, 06:05:02 AM
Merited by Don Pedro Dinero (1)
 #5373

Yeah, HE only means you are going to lose your money faster on average. You may choose to play at freebitco.in because you like it for other reasons.

And I think the lottery tickets and reward points they give you when playing the multiply game decrease HE, am I right?

They don't change the house edge in a statistical sense but when making a comparison between sites you need to factor in the giveaways and bonuses. Reward points and lottery tickets have a value, then there is the multiply bonus and free roll bonus as well. Some other sites have jackpots, deposit bonuses etc. Just saying 'don't use this site because it has a high house edge' isn't taking in to account all factors.

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March 06, 2018, 06:40:30 AM
Merited by febriyana (1)
 #5374

Yeah, HE only means you are going to lose your money faster on average. You may choose to play at freebitco.in because you like it for other reasons.

And I think the lottery tickets and reward points they give you when playing the multiply game decrease HE, am I right?

They don't change the house edge in a statistical sense but when making a comparison between sites you need to factor in the giveaways and bonuses. Reward points and lottery tickets have a value, then there is the multiply bonus and free roll bonus as well. Some other sites have jackpots, deposit bonuses etc. Just saying 'don't use this site because it has a high house edge' isn't taking in to account all factors.


I'm still suggesting people don't gamble with deposited money on this site until they reduce the house edge. Because on each roll you're losing almost 4% extra money directly. Those indirect benefits are not very attractive for the amount people pay to a site. In the lottery, unless you win those lottery tickets are waste. Based my experience there are plenty of people still waiting to win at least once since they introduced this lottery system. So those free lottery tickets may not be worth for the 4% amount you pay for each roll.
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March 06, 2018, 06:57:10 AM
 #5375

Yeah, HE only means you are going to lose your money faster on average. You may choose to play at freebitco.in because you like it for other reasons.

And I think the lottery tickets and reward points they give you when playing the multiply game decrease HE, am I right?

They don't change the house edge in a statistical sense but when making a comparison between sites you need to factor in the giveaways and bonuses. Reward points and lottery tickets have a value, then there is the multiply bonus and free roll bonus as well. Some other sites have jackpots, deposit bonuses etc. Just saying 'don't use this site because it has a high house edge' isn't taking in to account all factors.


I'm still suggesting people don't gamble with deposited money on this site until they reduce the house edge. Because on each roll you're losing almost 4% extra money directly. Those indirect benefits are not very attractive for the amount people pay to a site. In the lottery, unless you win those lottery tickets are waste. Based my experience there are plenty of people still waiting to win at least once since they introduced this lottery system. So those free lottery tickets may not be worth for the 4% amount you pay for each roll.

I'm suggesting that those benefits are direct and that people should take them into account and come to their decision as to where they want to play.

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March 06, 2018, 10:12:20 AM
 #5376

Just got an email from freebitco.in saying that round 144 was cancelled due to some API issues
Satoshis allocated in tickets where returned to accounts balances, at the ratio of 1:1.
I think it might be true news, why wasn't it posted here as well? The more sources, the more credibility.

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March 06, 2018, 10:18:29 AM
 #5377

Just got an email from freebitco.in saying that round 144 was cancelled due to some API issues
Satoshis allocated in tickets where returned to accounts balances, at the ratio of 1:1.
I think it might be true news, why wasn't it posted here as well? The more sources, the more credibility.

Because Myfe isn't very active at that sort of thing. There were some posts about it in the other thread on Micro Earning board after the Twitter update didn't happen. The Lottery page also didn't update so it is definitely true. I got the email early yesterday and can confirm I received the refund for the tickets I had.


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March 06, 2018, 10:19:01 AM
 #5378

Just got an email from freebitco.in saying that round 144 was cancelled due to some API issues
Satoshis allocated in tickets where returned to accounts balances, at the ratio of 1:1.
I think it might be true news, why wasn't it posted here as well? The more sources, the more credibility.
Yeah that's right, I also got the same email ( with the exact data concerning tickets number ) .
If you look at your balance you'd find that tickets were refunded ( I mean exchanged into bitcoin )
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March 06, 2018, 10:47:56 AM
 #5379

Just got an email from freebitco.in saying that round 144 was cancelled due to some API issues
Satoshis allocated in tickets where returned to accounts balances, at the ratio of 1:1.
I think it might be true news, why wasn't it posted here as well? The more sources, the more credibility.

I also confirm having received this email, so it is definitely true news! My bitcoins were refunded.
But I agree, myfe or wetsuit should post this email also in this topic (and in the topic for micro earnings).

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March 06, 2018, 12:25:48 PM
 #5380

I also confirm having received this email, so it is definitely true news! My bitcoins were refunded.
But I agree, myfe or wetsuit should post this email also in this topic (and in the topic for micro earnings).
so, did someone figure out a vulnerability and exploit it to increase his chance on lottery or what?
nothing on the site as well, usually they put a notification for important news on the front page

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