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Author Topic: Question regarding a faucet, payouts and dust  (Read 1712 times)
tornike
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October 28, 2014, 08:55:04 AM
 #21

Thank you for the input, everybody.

I have zero desire to make another microwallet affiliated faucet; I think I'll just proceed and see what the balances look like on a daily or weekly basis and figure out the payout method based on that.

I know this is bitcoin talk, but I'd like to offer the choice of Bitcoin or a couple of alts. Primecoin, peercoin, what other ones are people interested in?
There are other services that work in similar ways that microwallet works but are competitors with microwallet (I believe one example is coinbox.me - however I cannot testify as to the trustworthyness of them nor of microwallet).

Anyone who would claim payments from a faucet that does not work with a microwallet like service is a sucker (then again so is anyone else that uses faucets) as they will likely need a very large amount of 'claims' - likely more then they would be interested in continuing to use faucets -  before they can receive a payout
I think coinbox.me is broken. thats true, trusting your funds with a third party involves risk. Just do a batch transaction for those who reach a certain threshold, for example, when a batch of user reached 10k satoshi, send them all in one transaction.
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zetaray
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October 28, 2014, 10:04:15 AM
 #22

With faucets, I think a higher minimum withdraw limit is good for faucet users and faucet owner in the long run. Less fees for both parties. But newbies wants to be paid dust to feel gratified. So let the users choose is the only work around.

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funtotry
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October 28, 2014, 02:59:57 PM
 #23

I think coinbox.me is broken. thats true, trusting your funds with a third party involves risk. Just do a batch transaction for those who reach a certain threshold, for example, when a batch of user reached 10k satoshi, send them all in one transaction.
This is technically correct, however you really do not need to have very much money on deposit with the off-chain wallet service as you would almost certainly be giving away very little on a daily basis. If you were to deposit even .0001 BTC with the off-chain wallet service then you would likely have enough to fund payouts for months.

The issue is that if you were to wait until users reach 10k satoshi then most users would never reach enough to get a payout. If for example you gave away 100 satoshi up to once per hour per user then each user would need to visit your faucet 100 times before they would have enough to get a payout, and the amount being paid out would be worth less then a penny and would cost more to spend in additional TX fees then it is worth now

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