Is it smart to make a Bitcoin Faucet

[Finchy]

No, it's not smart. Probably a waste of time for everyone involved,.

[ranlo]

I wasted too much time on faucets. I guess they can be profitable for the owners if you can get the hits and advertising though.

Yeah, a massive waste of time for most people, at less than a penny for a min of work isnt worth anyones time.

Newbs are just naive and want to get their hands on some coins quickly.

Or maybe they're testing out their wallets, or just experiencing receiving bitcoins?

I recently checked out Dogecoin by using the faucets. Sure it's a massive waste of time for amassing coins, but it is a nice way to expose you to the crypto.

I learned nothing as I already have Bitcoin wallets, but it's plain to see how it can give newbies a buzz when they see their first coin being verified in the blockchain

Faucets used to give out hundreds of DOGE per claim. Compare that to their cap in price (200 sat) and they could have been profitable. This is where speculation comes in. Now they give almost nothing because the value has gone up. But when they were worth nothing, they had to give more to compensate for having no value.

[Jesu]

I want to know how many coins the first ones gave away when they were giving out whole bitcoins.

[ranlo]

I want to know how many coins the first ones gave away when they were giving out whole bitcoins.

A lot. Even games like Dragon's Tale used to give out a lot of coin (as in 0.01+ per claim, which was every 15m). Probably even more before that, but that's about the time I started getting involved.

People used to give out a lot of BTC for fun, too. Like on the forums you may get a 0.5 BTC tip just for the lulz. Now you'd be lucky to get 0.00005.

[nahtnam]

I've been using a coinbase wallet for my faucet collection. If I were to open another account with coinbase and send my faucet earnings there, would I be hit with a transaction fee when I try to cash out? I have about .12 BTC in there. From what I understand coinbase to coinbase transactions have no fee. Would the .12 still be considered many small deposits or a full .12 deposit in the new account?

Yep, there are no fees so 0.12 would be fully transferred. Also, if you transact more than 0.001 BTC to any non-coinbase address, coinbase will pay the transaction fee for you!

[ranlo]

I've been using a coinbase wallet for my faucet collection. If I were to open another account with coinbase and send my faucet earnings there, would I be hit with a transaction fee when I try to cash out? I have about .12 BTC in there. From what I understand coinbase to coinbase transactions have no fee. Would the .12 still be considered many small deposits or a full .12 deposit in the new account?

Yep, there are no fees so 0.12 would be fully transferred. Also, if you transact more than 0.001 BTC to any non-coinbase address, coinbase will pay the transaction fee for you!

You mean 0.01 BTC, but yes, CB will pay all the transaction fees even if going to an external address.

What I want to point out, though, is that it may not actually go through. I've had to break down transactions in the past because they kept rejecting due to the number of inputs. You might need to do 0.04x3, for example.

[nahtnam]

I've been using a coinbase wallet for my faucet collection. If I were to open another account with coinbase and send my faucet earnings there, would I be hit with a transaction fee when I try to cash out? I have about .12 BTC in there. From what I understand coinbase to coinbase transactions have no fee. Would the .12 still be considered many small deposits or a full .12 deposit in the new account?

Yep, there are no fees so 0.12 would be fully transferred. Also, if you transact more than 0.001 BTC to any non-coinbase address, coinbase will pay the transaction fee for you!

You mean 0.01 BTC, but yes, CB will pay all the transaction fees even if going to an external address.

What I want to point out, though, is that it may not actually go through. I've had to break down transactions in the past because they kept rejecting due to the number of inputs. You might need to do 0.04x3, for example.

Actually I still get my tx fees paid for me if I send anything above 0.001 btc.

[bassguitarman]

Fuck it, I'm gonna make it!

[ranlo]

I've been using a coinbase wallet for my faucet collection. If I were to open another account with coinbase and send my faucet earnings there, would I be hit with a transaction fee when I try to cash out? I have about .12 BTC in there. From what I understand coinbase to coinbase transactions have no fee. Would the .12 still be considered many small deposits or a full .12 deposit in the new account?

Yep, there are no fees so 0.12 would be fully transferred. Also, if you transact more than 0.001 BTC to any non-coinbase address, coinbase will pay the transaction fee for you!

You mean 0.01 BTC, but yes, CB will pay all the transaction fees even if going to an external address.

What I want to point out, though, is that it may not actually go through. I've had to break down transactions in the past because they kept rejecting due to the number of inputs. You might need to do 0.04x3, for example.

Actually I still get my tx fees paid for me if I send anything above 0.001 btc.

This is interesting. They apparently changed it to 0.001 as you said. Maybe this was due to the massive increase in price (the last time I looked was when BTC was $50-55 each).

[nahtnam]

I've been using a coinbase wallet for my faucet collection. If I were to open another account with coinbase and send my faucet earnings there, would I be hit with a transaction fee when I try to cash out? I have about .12 BTC in there. From what I understand coinbase to coinbase transactions have no fee. Would the .12 still be considered many small deposits or a full .12 deposit in the new account?

Yep, there are no fees so 0.12 would be fully transferred. Also, if you transact more than 0.001 BTC to any non-coinbase address, coinbase will pay the transaction fee for you!

You mean 0.01 BTC, but yes, CB will pay all the transaction fees even if going to an external address.

What I want to point out, though, is that it may not actually go through. I've had to break down transactions in the past because they kept rejecting due to the number of inputs. You might need to do 0.04x3, for example.

Actually I still get my tx fees paid for me if I send anything above 0.001 btc.

This is interesting. They apparently changed it to 0.001 as you said. Maybe this was due to the massive increase in price (the last time I looked was when BTC was $50-55 each).

There was a blog post saying that they raised the min to 0.01, but they changed it back to 0.001.

[ranlo]

I've been using a coinbase wallet for my faucet collection. If I were to open another account with coinbase and send my faucet earnings there, would I be hit with a transaction fee when I try to cash out? I have about .12 BTC in there. From what I understand coinbase to coinbase transactions have no fee. Would the .12 still be considered many small deposits or a full .12 deposit in the new account?

Yep, there are no fees so 0.12 would be fully transferred. Also, if you transact more than 0.001 BTC to any non-coinbase address, coinbase will pay the transaction fee for you!

You mean 0.01 BTC, but yes, CB will pay all the transaction fees even if going to an external address.

What I want to point out, though, is that it may not actually go through. I've had to break down transactions in the past because they kept rejecting due to the number of inputs. You might need to do 0.04x3, for example.

Actually I still get my tx fees paid for me if I send anything above 0.001 btc.

This is interesting. They apparently changed it to 0.001 as you said. Maybe this was due to the massive increase in price (the last time I looked was when BTC was $50-55 each).

There was a blog post saying that they raised the min to 0.01, but they changed it back to 0.001.

That's awesome. And thanks for the heads-up! If it weren't for you I'd have still thought they were at 0.01 (which means I've been giving incorrect information).

[nahtnam]

I've been using a coinbase wallet for my faucet collection. If I were to open another account with coinbase and send my faucet earnings there, would I be hit with a transaction fee when I try to cash out? I have about .12 BTC in there. From what I understand coinbase to coinbase transactions have no fee. Would the .12 still be considered many small deposits or a full .12 deposit in the new account?

Yep, there are no fees so 0.12 would be fully transferred. Also, if you transact more than 0.001 BTC to any non-coinbase address, coinbase will pay the transaction fee for you!

You mean 0.01 BTC, but yes, CB will pay all the transaction fees even if going to an external address.

What I want to point out, though, is that it may not actually go through. I've had to break down transactions in the past because they kept rejecting due to the number of inputs. You might need to do 0.04x3, for example.

Actually I still get my tx fees paid for me if I send anything above 0.001 btc.

This is interesting. They apparently changed it to 0.001 as you said. Maybe this was due to the massive increase in price (the last time I looked was when BTC was $50-55 each).

There was a blog post saying that they raised the min to 0.01, but they changed it back to 0.001.

That's awesome. And thanks for the heads-up! If it weren't for you I'd have still thought they were at 0.01 (which means I've been giving incorrect information).

Lol, np.

[bryant.coleman]

No, it's not smart. Probably a waste of time for everyone involved,.

No. If you know how to make money using advertising sites such as Coinurl and Anonymous Ads, you will never say this. Yes, it is a waste of time for those noobs who try it, but not for the owner of the website.

[CaptainBeck]

Fuck it, I'm gonna make it!

And have you made it?? For the sake of this thread, it would be good to hear how all this went for you and your after thoughts.

[Zyborg]

Fuck it, I'm gonna make it!

And have you made it?? For the sake of this thread, it would be good to hear how all this went for you and your after thoughts.

Haha yeah I'd like to see how it goes for him as well. I suspect failure but we might be surprised.

[ranlo]

Fuck it, I'm gonna make it!

And have you made it?? For the sake of this thread, it would be good to hear how all this went for you and your after thoughts.

Haha yeah I'd like to see how it goes for him as well. I suspect failure but we might be surprised.

It's only going to result in failure if he doesn't know what he's doing. If he's running a faucet to try and get rich, he's going to fail. If he is doing it for fun, he won't. If he's doing it for business purposes, he won't.

[Zyborg]

Fuck it, I'm gonna make it!

And have you made it?? For the sake of this thread, it would be good to hear how all this went for you and your after thoughts.

Haha yeah I'd like to see how it goes for him as well. I suspect failure but we might be surprised.

It's only going to result in failure if he doesn't know what he's doing. If he's running a faucet to try and get rich, he's going to fail. If he is doing it for fun, he won't. If he's doing it for business purposes, he won't.

That is true, judging by the thread though the goal is to make a profit.

[nahtnam]

Fuck it, I'm gonna make it!

And have you made it?? For the sake of this thread, it would be good to hear how all this went for you and your after thoughts.

Haha yeah I'd like to see how it goes for him as well. I suspect failure but we might be surprised.

It's only going to result in failure if he doesn't know what he's doing. If he's running a faucet to try and get rich, he's going to fail. If he is doing it for fun, he won't. If he's doing it for business purposes, he won't.

That is true, judging by the thread though the goal is to make a profit.

If you are going to do it, do it for the experience.

[MaxH]

I am making a list of faucet who really paid, and paid good. There are so many faucet website now 

[bopeshehan]

i joined a bitcoin faucet bot on telegram and i've been trying to withdraw my bitcoin to my wallet but they wont let me withdraw it says i have more accounts from that IP and asks me to pay...