Bitcoin Faucet is running dry

[AbeSkray]

I think the Faucet payout could be reduced.

The point is to verify and test that transactions work. And for this, you do not need a large amount. I'd be happy with 0.0001. I went to the faucet and got my 0.05 bitcoins, later I transferred back 0.15 bitcoins.

According to the Bitcoin wiki, there is a default transaction fee for sending amounts less than 0.01 BTC.

0.01 BTC fee if sending any transaction less than 0.01 BTC. This is to help prevent DoS attacks against the network. Remember: fees are not network-enforced, so it's still possible to send these small transactions without the fee -- you just have to generate the blocks that contain them yourself (after modifying Bitcoin).

The article states this is for version 0.3.17 of the Bitcoin client. 0.3.20 is the current version, though, so I'm not sure if this information is out of date.

[1714913036]

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[Veldy]

I just started with Bitcoin and find it facinating.  I am waiting for the first balance to show from all the blocks I am processing (I have a pretty decent machine ... how long until some results at ~5050 khash/s set to system priority low, which should probably be the default?).  Anyway, I received my 0.05 bitcoin transaction from the faucet and then today I sent it back as I just needed to verify that my system was setup correctly.  I sent it back a few minutes ago when encountering this thread, so it is as of yet unconfirmed.   I urge everybody who received anything from the faucet to send their bitcoins back.  I will donate to the faucet when I accumulate some coins and have had some time to determine the usefulness of the bitcoin economy in general (certainly better than have a currency backed by the Federal Reserve!  ).

[randomguy7]

It might take like forever till you generate a block using your cpu (check here: http://www.alloscomp.com/bitcoin/calculator.php). The increasing block count is the block chain you're downloading from the other users. Most mining today is done using high end graphic cards as it's way more effective (faster & and needs less energy). You need to download a seperate mining program to do this. What graphic card do you have?

[Veldy]

Yes, I have since read that CPU is not the way to go.  I am now using poclbm-gui and am seeing ~113Mhash/s.

Of course, I will have to stop this thing when I use the computer for graphically intensive purposes

[randomguy7]

Of course, I will have to stop this thing when I use the computer for graphically intensive purposes

When I started mining, I had the same plan. What happened is that it made me stop doing graphically intensive stuff

[tenach]

Of course, I will have to stop this thing when I use the computer for graphically intensive purposes

When I started mining, I had the same plan. What happened is that it made me stop doing graphically intensive stuff

Because I can only use cpu, it is making me want to find a way to build a better system!

[Veldy]

Of course, I will have to stop this thing when I use the computer for graphically intensive purposes

When I started mining, I had the same plan. What happened is that it made me stop doing graphically intensive stuff

I have another machine in the basement which blew it's power supply.  I can put a "spare" overclocked 460GTX card in it.  I just might make that a project as well   This mining this is rather addictive

[marcus_of_augustus]

Of course, I will have to stop this thing when I use the computer for graphically intensive purposes

When I started mining, I had the same plan. What happened is that it made me stop doing graphically intensive stuff

I have another machine in the basement which blew it's power supply.  I can put a "spare" overclocked 460GTX card in it.  I just might make that a project as well  This mining this is rather addictive

You got it.

But there are worse things you could be doing than saving the world from the perils of centralised fiat currencies controlled by meglamaniacal banksters.

[Veldy]

You got it.

But there are worse things you could be doing than saving the world form the perils of centralised fiat currencies controlled by meglamaniacal banksters.

Agreed .. fiat currency is probably THE LARGEST NATIONAL THREAT TO THE USA right now.  And our congress is euphoric with spending lust.  I like how they claim low inflation when they conveniently exclude fuel and food.  Bitcoin is not the answer on its own, but it is a step and an example of a a solution and the direction that we should be headed.  The Federal Reserve must be eliminated plain and simple.  But now I digress.

[divergenta]

Bump
It's running dry again.

Let's donate!

[metalmadnesstv]

is there a bitcoin Faucet anywhere?

[k]

you could try http://dailybitcoins.org/ for some free bitcoins. Bitcoin faucet is out of action as far as i know

[Genius Einstein]

Wow that is quite amazing but expected as so many people have been taking up all the satoshi from the bitcoin faucets. In reality bitcoin faucets are such a waste of time and you barely get any bitcoin as one satoshi is like a ten millionth of a bitcoin. Such a waste of time!

[Kakmakr]

What a blast from the past to recycle this old thread. Some things never change, Gavin wanted to identify users with their Google accounts to stop people from exploiting his code and sucking the faucet dry, and lately he wanted to infringe on people's anonymity with his partnership with Mike Hearn too. ^hmmmm^ I always thought he donated most of the money to his faucet and now realize there was Ad income and donations from other people. Glad you revived this post, very informative. ^smile^

[TipZ]

I just bought 55 coins through paypal a few minutes ago,
5 just went to the faucet

Wooaaw really not 2016 !

[cjmoles]

I just bought 55 coins through paypal a few minutes ago,
5 just went to the faucet

Wooaaw really not 2016 !

That was big money back then....February 2011 bitcoin finally reached $1 US so he spent $55 and put 5 bucks (about $2100 worth today) in the faucet!  Wow, we've come a long way!  This really put's things in perspective.  Love these old threads....nice find!

[marcus_of_augustus]

What a blast from the past to recycle this old thread. Some things never change, Gavin wanted to identify users with their Google accounts to stop people from exploiting his code and sucking the faucet dry, and lately he wanted to infringe on people's anonymity with his partnership with Mike Hearn too. ^hmmmm^ I always thought he donated most of the money to his faucet and now realize there was Ad income and donations from other people. Glad you revived this post, very informative. ^smile^

... yeah it is pretty funny, Theymos wanted to introduce people to the "fees feature" in 2011

[avikz]

faucet will run dry eventually. Who will give away so much bitcoins through a faucet?? It is the most expensive currency.

faucets was always a waste of time and nowdays it is even more. most of the faucets are offering around 25- 100 satoshis which doesn't really have much value. It is better to use altcoins faucet now like peercoin or dogecoin. At least you will ear bit more money.

[cjmoles]

faucet will run dry eventually. Who will give away so much bitcoins through a faucet?? It is the most expensive currency.

faucets was always a waste of time and nowdays it is even more. most of the faucets are offering around 25- 100 satoshis which doesn't really have much value. It is better to use altcoins faucet now like peercoin or dogecoin. At least you will ear bit more money.

Just think of how much money you'd have today if you took advantage of those faucets back then!  It's all relative when one thinks about it.  Faucet earnings today could be worth a fortune in the future.  I wonder how many people are storing up all them small faucet earnings today hoping that bitcoin's value keeps increasing at the rate it has been?  If you snooze, you lose!

[g4vinshreds]

I just bought 55 coins through paypal a few minutes ago,
5 just went to the faucet

If only you kept those 5 you'd have a good bit more cash now.