Is it smart to make a Bitcoin Faucet

[ranlo]

Faucets main issue currently IMO isn't fees or security but the lack of advertisers in the typical smaller faucets but not totally sure, IMO it's not profitable to open a faucet now.

I agree with you. I had to close my faucet because I couldn't pay my visitors with the revenue I got from my ads. Which sucked to be honest. I loved being a faucet owner.

I've noticed this as well. And it was caused by three things:

1) Faucets started flooding their sites with ads. I've seen some with 20+ ads on the page
2) More and more faucets started popping up
3) People became immune to the ads due to there being so many

This killed profit for advertisers, so they started paying less. Even so, more and more faucets popped up (as some people would gladly run a faucet for a cent per week).

[Mitchell]

Faucets main issue currently IMO isn't fees or security but the lack of advertisers in the typical smaller faucets but not totally sure, IMO it's not profitable to open a faucet now.

I agree with you. I had to close my faucet because I couldn't pay my visitors with the revenue I got from my ads. Which sucked to be honest. I loved being a faucet owner.

I've noticed this as well. And it was caused by three things:

1) Faucets started flooding their sites with ads. I've seen some with 20+ ads on the page
2) More and more faucets started popping up
3) People became immune to the ads due to there being so many

This killed profit for advertisers, so they started paying less. Even so, more and more faucets popped up (as some people would gladly run a faucet for a cent per week).

I used adservices like BitAds and AdBit, which would give me pretty good revenue even though I had just one or two ads per page (and none on some pages). However, I didn't want to decrease my payout even more so I started to take some loses. After a while nobody clicked the ads which caused investors to not spend money on my ads, which caused me to lose even more money. So I shut it down.

[ranlo]

Faucets main issue currently IMO isn't fees or security but the lack of advertisers in the typical smaller faucets but not totally sure, IMO it's not profitable to open a faucet now.

I agree with you. I had to close my faucet because I couldn't pay my visitors with the revenue I got from my ads. Which sucked to be honest. I loved being a faucet owner.

I've noticed this as well. And it was caused by three things:

1) Faucets started flooding their sites with ads. I've seen some with 20+ ads on the page
2) More and more faucets started popping up
3) People became immune to the ads due to there being so many

This killed profit for advertisers, so they started paying less. Even so, more and more faucets popped up (as some people would gladly run a faucet for a cent per week).

I used adservices like BitAds and AdBit, which would give me pretty good revenue even though I had just one or two ads per page (and none on some pages). However, I didn't want to decrease my payout even more so I started to take some loses. After a while nobody clicked the ads which caused investors to not spend money on my ads, which caused me to lose even more money. So I shut it down.

Yeah, it sucks that it came to that. At the end of last year there were a couple faucets I know of that were pulling in 5btc+ in profit per week. One was earning 1.5-2 BTC a day off theirs.

[Mitchell]

Yeah, it sucks that it came to that. At the end of last year there were a couple faucets I know of that were pulling in 5btc+ in profit per week. One was earning 1.5-2 BTC a day off theirs.

I wish that I was once of them, but oh well. Bad luck. I still liked giving back to the community and helping out newbies.

[Jcw188]

I would think with enough visitors you can make some money off a faucet, if you sell advertising.  You will need a lot of visitors and you'll have to give away only enough to make sure you're profitable.  Another idea some faucets do is to have it like a lottery, where you could get from 1 satoshi up to 1 BTC or something like that.

[ranlo]

I would think with enough visitors you can make some money off a faucet, if you sell advertising.  You will need a lot of visitors and you'll have to give away only enough to make sure you're profitable.  Another idea some faucets do is to have it like a lottery, where you could get from 1 satoshi up to 1 BTC or something like that.

The problem is the market is oversaturated. You'd need to approach advertisers directly to land any deals at this point. Otherwise you're not going to make much, if anything.

[Mitchell]

I would think with enough visitors you can make some money off a faucet, if you sell advertising.  You will need a lot of visitors and you'll have to give away only enough to make sure you're profitable.  Another idea some faucets do is to have it like a lottery, where you could get from 1 satoshi up to 1 BTC or something like that.

The problem is the market is oversaturated. You'd need to approach advertisers directly to land any deals at this point. Otherwise you're not going to make much, if anything.

Yup and the problem with that is, you need visitors to get advertisers, but with a oversaturated market, you won't get enough to be attractive to advertisers. Which sucks

[ranlo]

I would think with enough visitors you can make some money off a faucet, if you sell advertising.  You will need a lot of visitors and you'll have to give away only enough to make sure you're profitable.  Another idea some faucets do is to have it like a lottery, where you could get from 1 satoshi up to 1 BTC or something like that.

The problem is the market is oversaturated. You'd need to approach advertisers directly to land any deals at this point. Otherwise you're not going to make much, if anything.

Yup and the problem with that is, you need visitors to get advertisers, but with a oversaturated market, you won't get enough to be attractive to advertisers. Which sucks

If people were able to (or willing to) pay a decent amount, they could gain market share easily. When most faucets are paying out like half a uBTC per claim, that is nothing. If they were giving more money, they would be prioritized. I, for example, would gladly prioritize sites on my rotator if they were willing to pay more.

[shadowphoenix]

more the better IMO

[Beliathon]

he problem was there was not enough traffic - for every 1000 visitors you get about ~ 0.0025 btc trough the ad service im using. Unfortunately, traffic was about 10-20 a day. Im not quite sure why so few people were interested in btc for jokes

It's not the jokes people are unmotivated by, it's the tiny amount of wealth faucets pay out. Ohh, 50 cents worth of bitcoin, oh myyy, I should take the time to sign up for some shitty open-mic-night dad-jokes site! No.

And nobody gives a shit about gambling, this is not 1930.

[Mitchell]

I would think with enough visitors you can make some money off a faucet, if you sell advertising.  You will need a lot of visitors and you'll have to give away only enough to make sure you're profitable.  Another idea some faucets do is to have it like a lottery, where you could get from 1 satoshi up to 1 BTC or something like that.

The problem is the market is oversaturated. You'd need to approach advertisers directly to land any deals at this point. Otherwise you're not going to make much, if anything.

Yup and the problem with that is, you need visitors to get advertisers, but with a oversaturated market, you won't get enough to be attractive to advertisers. Which sucks

If people were able to (or willing to) pay a decent amount, they could gain market share easily. When most faucets are paying out like half a uBTC per claim, that is nothing. If they were giving more money, they would be prioritized. I, for example, would gladly prioritize sites on my rotator if they were willing to pay more.

Well, that is true of course. But most people don't have that kind of money to put into a faucet. Also, the chance of losing it are quite high. Most people prefer to play safe with their hard earned BTC.

[CaptainBeck]

Yeah, it sucks that it came to that. At the end of last year there were a couple faucets I know of that were pulling in 5btc+ in profit per week. One was earning 1.5-2 BTC a day off theirs.

Yeah it was also going to happen really, so many faucets out there, there was bound to be alot of natural selection until we were down to a few bigger players. It maybe worth it again soon if BTC takes another upwards drive.

[Pobre]

LOL. I dont think hackers would be interested in hacking the faucets, there are other big things for them to hack, and it completely your wish that if you want to open a bitcoin faucet or not. By opening one you'll just contribute to the spread of bitcoin, but i guess your faucet should payout instantly, and as the current faucets just pay out dust so your faucet should have a higher payouts than the others.

[Mitchell]

LOL. I dont think hackers would be interested in hacking the faucets, there are other big things for them to hack, and it completely your wish that if you want to open a bitcoin faucet or not. By opening one you'll just contribute to the spread of bitcoin, but i guess your faucet should payout instantly, and as the current faucets just pay out dust so your faucet should have a higher payouts than the others.

My faucet had a peerbet payout option and people loved it. Most payments were done to peerbet accounts. So that is something that a faucet owner should implement. I was the first one to do so. Still have the code laying around if someone is interested in it. For a small donation of course.

[Pobre]

LOL. I dont think hackers would be interested in hacking the faucets, there are other big things for them to hack, and it completely your wish that if you want to open a bitcoin faucet or not. By opening one you'll just contribute to the spread of bitcoin, but i guess your faucet should payout instantly, and as the current faucets just pay out dust so your faucet should have a higher payouts than the others.

My faucet had a peerbet payout option and people loved it. Most payments were done to peerbet accounts. So that is something that a faucet owner should implement. I was the first one to do so. Still have the code laying around if someone is interested in it. For a small donation of course.

Well yeah, i saw some option of peerbet payment on a faucet but i dont remember which one. But I really dont know what peerbet is. So would you also like to throw some light on the peerbet accounts? And let this guy collect money for his own faucet first then only he'll be able to think about buying your code.

[Mitchell]

LOL. I dont think hackers would be interested in hacking the faucets, there are other big things for them to hack, and it completely your wish that if you want to open a bitcoin faucet or not. By opening one you'll just contribute to the spread of bitcoin, but i guess your faucet should payout instantly, and as the current faucets just pay out dust so your faucet should have a higher payouts than the others.

My faucet had a peerbet payout option and people loved it. Most payments were done to peerbet accounts. So that is something that a faucet owner should implement. I was the first one to do so. Still have the code laying around if someone is interested in it. For a small donation of course.

Well yeah, i saw some option of peerbet payment on a faucet but i dont remember which one. But I really dont know what peerbet is. So would you also like to throw some light on the peerbet accounts? And let this guy collect money for his own faucet first then only he'll be able to think about buying your code.

Was it on Bitcoininformation.info because that is my website which had a faucet. Peerbet is a player vs player gambling website. People create nets and we'll play against each other. Anyway, the donation is jot required. Of course. It's a donation after all. Sorry if that wasn't clear enough.

[Coinbuddy]

making a faucet is just waste of time

[CaptainBeck]

making a faucet is just waste of time

Its not if your learning as you go, it can help to gain insight into doing alot of auto BTC stuff, but in terms of making worth while BTC yeah abit of a waste of time.

[Pobre]

Well, the faucet wasnt on bitcoininformation.info, ive never visited this site. maybe someone else would have coppied your idea.

[Mitchell]

Well, the faucet wasnt on bitcoininformation.info, ive never visited this site. maybe someone else would have coppied your idea.

Yeah, people copied it quite quickly. I knew who did it after me, but forgot. Has been a while since I had my faucet