dkbit98: Testnet coins are FREE are worthless!

[Knight Hider]

The title is the Trusted feedback dkbit98 wrote on my Trust Summary. I don't mind the feedback, and I think it should be true, but unfortunately reality is moving in a different direction. Testnet coins are very difficult to get for free, and are no longer worthless. Altquick.com confirms this:

Someone made 70x profit trading testnet Bitcoin on AltQuick.com.
453.69919575   0.00000101   Wed, 31 Jan 2024 16:21:19 UTC
225.94528571   0.00007000   Thu, 01 Feb 2024 15:21:33 UTC
225.48528571   0.00007000   Thu, 01 Feb 2024 14:50:35 UTC

Buy: $19
Sell: $1338

*slow bows*

That was me.  I was tickled shitless to see that when I finally got around to the computer today.

I was shocked they sold within 24 hours, but there are clearly sharks in the waters.

I give away small amounts of Bitcoin Testnet: https://bitcointalk.org/index.php?topic=5444054. Been doing this for almost a year. My faucet got abused: https://bitcointalk.org/index.php?topic=5483426.
I can no longer obtain Testnet coins for free. Supply and demand, lost coins, bag holders and token airdrops made Testnet coins unavailable.
I bought and sold some at Altquick to increase my faucet supply. I still give away Testnet coins for free. Developers do not need a lot. SatoshiVM Project airdrop chasers want it for profit. What's wrong with charging them for the large amounts of Testnet coins they use?

Bitcoin testnet needs to be reset (again):

Until then, I hope to make Testnet buyers pay for funding my Testnet faucet. It is what it is.

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[Plaguedeath]

IMO the tag is unnecessary, I don't feel @OP is scamming nor likely to scam, he always mention "tBTC" or "Testnet Bitcoin" not claiming to sell real Bitcoin.

It's true testnet Bitcoin should be free, but if someone willing to pay for it, why not? as long as both of the parties agree with the deals, it's fine even though some people will say you can obtain the testnet Bitcoin for free through faucet or mine it, but not every people want to spend their time to claim the faucet for many times or follow a long technical steps.

[Learn Bitcoin]

IMO the tag is unnecessary, I don't feel @OP is scamming nor likely to scam, he always mention "tBTC" or "Testnet Bitcoin" not claiming to sell real Bitcoin.

It's true testnet Bitcoin should be free, but if someone willing to pay for it, why not? as long as both of the parties agree with the deals, it's fine even though some people will say you can obtain the testnet Bitcoin for free through faucet or mine it, but not every people want to spend their time to claim the faucet for many times or follow a long technical steps.

I agree with this statement as well. The feedback is not necessary. But you and I and the OP should not think about it too much because it's just neutral feedback. Probably dkbit thought that if he wrote that on his feedback page, then people who want to spend money on buying free things will do a google search and they may find what they were looking for.

But, the fact is, not everyone wants to spend their time searching for a faucet. Especially if they are developers. But, some people want to test net BTC for their airdrop. I always feel like people who do bounty jobs, do not have anything else to do. That's why they do these jobs. So, I guess they have enough time to search on the internet about these testnet faucets

[SamReomo]

Whatever dkbit98 has said about Testnet bitcoins is 100% true. Testnet bitcoins have no monetary value and selling those isn't a good thing at all. But, whatever Plaguedeath said is also true, If someone is willing to pay for worthless testnet bitcoins then it's okay to sell it. However, the seller should encourage others that Testnet bitcoins are free and they have no monetary value whatsoever.

[ABCbits]

I bought and sold some at Altquick to increase my faucet supply. I still give away Testnet coins for free. Developers do not need a lot. SatoshiVM Project airdrop chasers want it for profit. What's wrong with charging them for the large amounts of Testnet coins they use?

More tBTC used for financial purpose which makes less place/people have ability or liquidity to continue offer tBTC for free. If more project ask for tBTC, i expect it'll also affect raise difficulty/hashrate on tBTC network.

[FatFork]

Testnet coins are never supposed to have any monetary value. Assigning them monetary value would defeat their primary purpose.

OP, you previously claimed that obtaining testnet coins for free was no longer possible, and you even created a topic seeking to purchase tBTC to maintain your Bitcoin testnet faucet, which is a OK if you wish to continue offering this service. However, it appears inconsistent that you simultaneously created another topic selling the same coins at a profit.

To fund my forum Bitcoin testnet faucet (<cut>), I want to buy Bitcoin testnet.
I can pay 0.001 LTC per tBTC.

Selling: testnet Bitcoin.
I have my forum Bitcoin testnet faucet (<cut>) for small amounts, and can sell 1-20 (or more) tBTC for Litecoin or Bitcoin.

1 testnet Bitcoin: 2 US$
<cut>

As I see it, dkbit98's (neutral) tag is justified.

[examplens]

More tBTC used for financial purpose which makes less place/people have ability or liquidity to continue offer tBTC for free. If more project ask for tBTC, i expect it'll also affect raise difficulty/hashrate on tBTC network.

I believe that sometimes teams want to do testing as soon as possible, so they would rather pay tBTC than spend time to find for free.

Is it possible that one of the shortcomings of testnet coins comes from the fact that hardly anyone returns them to the network after testing? They just leave them where they are because they are worthless.

[YOSHIE]

dkbit98: Testnet coins are FREE are worthless!

Talking about testnet-BTC, that coin already has a lot of warnings outside this forum, lucky you weren't given a red label by @dkbit98, in your confidence.

He did the right thing to warn about the dangers of testnet-BTC, as I see it.

The first problem is about testnet-BTC.

Operating costs: On testnet, tokens do not have any value. Operating costs on mainnet are higher. Every operation performed on the blockchain requires a fee in the form of a token that has a certain value. examples of these operations include value transfer, staking rewards, or Smart Contract deployment.

Transaction frequency: Transaction frequency is low for testnet.

The second problem concerns the testnet-BTC coin.

Fraud method 1: Fraudsters claim that they have some tokens to sell in a hurry, and give very attractive prices. Beginner users are greedy for cheap prices, and after receiving the transferred tokens, they find that they cannot be traded and have no value.

And the third problem is about testnet-BTC, this third is a bad warning for crypto users, if they understand about testnet-BTC.

We are experimenting with testnet-BTC (tBTC). Note that, testnet-BTC (tBTC) is for testing purposes only.
It's worthless. These are not real Bitcoin (BTC) satoshis in your account. Don't be a victim of SCAM as there are lots of people out there to sell tBTC to clueless beginners.

From the three sources and data above, perhaps we should be aware of the dangers that could occur for testnet-BTC users, if they understand what will happen next.

[dkbit98]

The title is the Trusted feedback dkbit98 wrote on my Trust Summary. I don't mind the feedback, and I think it should be true, but unfortunately reality is moving in a different direction.

Did you really had to create this stupid topic about my neutral feedback given to you?  
Al I said is factual truth, and you selling something that is FREE and has no monetary value is borderline shady, but it's possible I could change my feedback in future.

PS
If you are interested I am willing to sell you my old socks with a special discount.  

[DaveF]

The COINS may be free, BUT there is time and effort involved. And if you are mining them there is the cost of power.
Although I do not like the idea of buy / selling tBTC for whatever reason the devs have not bothered to reset the testnet for a while now so if for whatever reason you need 1 or 2 tBTC it's a PITA.

Getting 0.001 is easy and SHOULD be all you need to do testing, but if you want more it's not that simple anymore.

And, if the devs wanted to, it's a simple change in the next release.


Have any of the devs ever mentioned / discussed why they have not reset it?

-Dave

[OgNasty]

The title is the Trusted feedback dkbit98 wrote on my Trust Summary. I don't mind the feedback, and I think it should be true, but unfortunately reality is moving in a different direction.

Did you really had to create this stupid topic about my neutral feedback given to you?  
Al I said is factual truth, and you selling something that is FREE and has no monetary value is borderline shady, but it's possible I could change my feedback in future.

PS
If you are interested I am willing to sell you my old socks with a special discount.  

OP actually provided evidence that what you stated is not the factual truth and instead your opinion.  Using someone's trust feedback to state your personal opinion (which is factually proven to be wrong by the way) is a pretty lame thing to do.  I don't know what's up with you lately dkbit98, but whatever happened to you to make you start acting like some sort of wannabe forum policeman around here was not a positive development.

[paid2]

--snip-- I don't know what's up with you lately dkbit98, but whatever happened to you to make you start acting like some sort of wannabe forum policeman around here was not a positive development.

Why?

His feedback is useful. Personnaly I would never trade with someone selling tBTC, so I am not against a neutral stating it.

[notblox1]

I have testnet coins as faucet I would never sell them, but I have been approached by many newbie members recently who lied and tried to trick me to send them coins for many airdrop schemes.
So yes I think that anyone selling testnet coins is participating in this schemes, and they are not helping bitcoin ecosystem at all.
Bitcoin testnet exist only for experiments and testing.


https://mempool.space/testnet

Testnet is an alternative Bitcoin blockchain, to be used for testing. Testnet coins are separate and distinct from actual bitcoins, and are never supposed to have any value

https://bitcoinwiki.org/wiki/Testnet

[Bitcoin_Arena]

It would have been an issue if the feedback was negative. It's neutral. If you didn't mind the feedback, then I don't know why you had to open a topic about it. I am one person who doesn't like the idea of people selling testnet coins. Isn't that similar to corruption and being greedy?

Imagine getting items that are meant for donations to the underprivileged, and then you start selling them off just because someone is willing to pay  

What's wrong with charging them for the large amounts of Testnet coins they use?

You ignore such requests because once they get those coins, they won't return them. In other words, you are enabling the shortage you are complaining about by selling them.

[Foxpup]

I would like to thank OP for bringing this issue to my attention. I have left negative trust on the most directly culpable user and suggest that dkbit98 do the same. Seriously, who the fuck is buying and selling worthless testnet coins? What are they going to do when (not if) the testnet chain is reset again?

[Knight Hider]

Imagine getting items that are meant for donations to the underprivileged, and then you start selling them off just because someone is willing to pay  

When you put it like this, it no longer sounds as victimless as I thought it was. I will close my sales topic and keep my Testnet faucet until it is empty.