In 2015, faucets are bad for bitcoin

[YuginKadoya]

When BTC started, nobody had any and it was worthless, so it was right to give away thousands of BTC to make it popular. All that has changed. Now that BTC's worth something, now that companies are building on BTC, now that serious business transactions are made with bitcoin, it's about time for faucets to adapt.

BTC is real. It's money, and you've got to work to earn some. I hope all faucets will disappear in 2015. Faucets are hurting bitcoin by making some people believing you can get it while doing nothing sitting in your home. No, BTC isn't like that, and it shouldn't be any easier to get than any fiat currency. Even for small amounts.

Faucets definitely played a role in the very beginning of Bitcoin. it helped spread Bitcoin and generated a part of the early user basis. giving numbers of bitcoin for free but faucets usually do not give out more than amounts just a portion of bitcoins, faucet will exist even in the end of bitcoin I supposed,

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[NorrisK]

The biggest problem is that the payouts are so small nowadays that it is almost impossible to get enough to actually use and experiment with.

Transaction fees are almost higher than several payouts, making them almost useless.

[YuginKadoya]

The biggest problem is that the payouts are so small nowadays that it is almost impossible to get enough to actually use and experiment with.

Transaction fees are almost higher than several payouts, making them almost useless.

Yup! it is time consuming to faucet for bitcoin, but faucets has a very big role for newbies to earn small amount of BTC to experience what is Bitcoin is about, you can say it is useless but many is still using this kind of technique to earn bitcoin because not all mine for bitcoin, because of the high probability that they will not ROI with it.

[ranochigo]

The biggest problem is that the payouts are so small nowadays that it is almost impossible to get enough to actually use and experiment with.

Transaction fees are almost higher than several payouts, making them almost useless.

Yup! it is time consuming to faucet for bitcoin, but faucets has a very big role for newbies to earn small amount of BTC to experience what is Bitcoin is about, you can say it is useless but many is still using this kind of technique to earn bitcoin because not all mine for bitcoin, because of the high probability that they will not ROI with it.

It was viable when faucets paid 0.05-0.1mBTC per claim. The transaction fees was around there and it takes a few claims to cashout. However, with the rising transaction fees and price, the payouts were significantly reduced. There is much more time required to gain BTC to even get a payout.

[guybrushthreepwood]

Faucets aren't bad for bitcoin. They still get people involved. The only thing they're bad for is the people who try to earn from them and they would be better spending their time doing other things but they usually realize that sooner or later.

[ATguy]

You need a lot of work filling captchas to get some small amount of Bitcoin to test how the Bitcoin (wallet, sending, and so on) works, so definitively not for newcommers trying to give Bitcoin a try. Faucets might work for grinders from countries where such small amounts of money means something...

[Amph]

The biggest problem is that the payouts are so small nowadays that it is almost impossible to get enough to actually use and experiment with.

Transaction fees are almost higher than several payouts, making them almost useless.

faucets were not meant ever, to give you a decent profit, they are there for tipping purpose, and let the newcomer, takes a grasp about what bitcoin is and how it work

[Bitcoininspace]

When BTC started, nobody had any and it was worthless, so it was right to give away thousands of BTC to make it popular. All that has changed. Now that BTC's worth something, now that companies are building on BTC, now that serious business transactions are made with bitcoin, it's about time for faucets to adapt.

BTC is real. It's money, and you've got to work to earn some. I hope all faucets will disappear in 2015. Faucets are hurting bitcoin by making some people believing you can get it while doing nothing sitting in your home. No, BTC isn't like that, and it shouldn't be any easier to get than any fiat currency. Even for small amounts.

Don't really understand why you hate faucets so much.

They are basically there to help people learn how to use it, sure some may farm them through referrals, etc. But that's not really the point.

There isn't a point in eliminating them all since like you said, in the beginning they were giving away thousands of btc and I know of 1 user here on the forum that put 500 btc on a faucet back in the day, but they also have adapted accompanied by the price. I'd say nowadays faucets are giving you even less than what the site owner earns per adview.

[ranochigo]

The biggest problem is that the payouts are so small nowadays that it is almost impossible to get enough to actually use and experiment with.

Transaction fees are almost higher than several payouts, making them almost useless.

faucets were not meant ever, to give you a decent profit, they are there for tipping purpose, and let the newcomer, takes a grasp about what bitcoin is and how it work

That's what it's supposed to do. Many faucets only pays 100-3000 satoshis per claim and it would take a long time before it gets up to withdrawal threshold and would just piss people off. Even though there are apis like Xapo and Coinbase, it doesn't let the newbie experience the feeling of transacting with Bitcoin.

[krb91]

The biggest problem is that the payouts are so small nowadays that it is almost impossible to get enough to actually use and experiment with.

Transaction fees are almost higher than several payouts, making them almost useless.

Faucets are adapting now the ecosystem is getting bigger. Some exchanges including the yobit exchange let you claim free dust for some coins, with regular intervals between claims. It's exactly the same as a faucet but you don't have to waste time solving a captcha, and your dust is paid straight into your account's wallets. If you save enough up you can use it to experiment with micro trading.

You could never save enough to make any real money but it gives newbies a chance to experiment. Bleutrade has arrangements with some faucets to pay your coins straight into your exchange account, which isalmost identical to yobit's system. Other exchanges like Poloniex do giveaways, which is almost the same, but you can't claim regularly.

[g-unit]

Moon bitcoin, moon litecoin, and moon dogecoin are my favorites. Completely passive income and you can claim as often as you want (5 minutes) or long as you want. Good way to rack up litecoins and dogecoins in case their price ever shoots up.

[Slark]

Moon bitcoin, moon litecoin, and moon dogecoin are my favorites. Completely passive income and you can claim as often as you want (5 minutes) or long as you want. Good way to rack up litecoins and dogecoins in case their price ever shoots up.

Good luck with collecting wallet dust from that 5 min withdrawals. In the end you will pay probably more transaction fees if you ever want to send it than you actually earned.

[Betwrong]

Faucets are good for starters, especially for school kids who want to learn more what Bitcoin is. So I think it's a good thing generally. But for those who want to make significant profit they are useless IMO. I heard that there are some bots which can milk the faucets but I never used them so idk.

[ranochigo]

Faucets are good for starters, especially for school kids who want to learn more what Bitcoin is. So I think it's a good thing generally. But for those who want to make significant profit they are useless IMO. I heard that there are some bots which can milk the faucets but I never used them so idk.

It exist but it is rather unprofitable if its fully automated. It would require a captcha solving service and a online computer. A captcha solving service costs at least $0.80 for 1000 captcha while there is costs for the online device to worry about.

[Lover of Coin]

Faucets are good for starters, especially for school kids who want to learn more what Bitcoin is. So I think it's a good thing generally. But for those who want to make significant profit they are useless IMO. I heard that there are some bots which can milk the faucets but I never used them so idk.

Faucets are only useful for people having plenty of spare time. You might earn $2 per hour.

[leex1528]

Faucets are good for starters, especially for school kids who want to learn more what Bitcoin is. So I think it's a good thing generally. But for those who want to make significant profit they are useless IMO. I heard that there are some bots which can milk the faucets but I never used them so idk.

Faucets are only useful for people having plenty of spare time. You might earn $2 per hour.

I don't even think you will earn 2 dollars per hour.  currently 2 dollars is roughly .0067 coins(roughly)  There are not a lot of faucets out there, I think if you are able to get .001 coin per hour you are doing really darn good.  More than likely you are going to earn roughly .00067 coins an hour, or around 20 cents.

[shadobitz]

Faucets are good for starters, especially for school kids who want to learn more what Bitcoin is. So I think it's a good thing generally. But for those who want to make significant profit they are useless IMO. I heard that there are some bots which can milk the faucets but I never used them so idk.

Faucets are only useful for people having plenty of spare time. You might earn $2 per hour.

I don't even think you will earn 2 dollars per hour.  currently 2 dollars is roughly .0067 coins(roughly)  There are not a lot of faucets out there, I think if you are able to get .001 coin per hour you are doing really darn good.  More than likely you are going to earn roughly .00067 coins an hour, or around 20 cents.

Yes that it true payout from faucet almost like nothing just waste of time to visit again and again just for some satoshi i don't think that is good idea to earn some bitcoin.

[Nahl]

most people said using a faucet is the huge waste of time but some people could use it until now
and it proved by many faucet site announced at micro earnings board

[susila_bai]

Faucets are good for starters, especially for school kids who want to learn more what Bitcoin is. So I think it's a good thing generally. But for those who want to make significant profit they are useless IMO. I heard that there are some bots which can milk the faucets but I never used them so idk.

Faucets are only useful for people having plenty of spare time. You might earn $2 per hour.

I don't even think you will earn 2 dollars per hour.  currently 2 dollars is roughly .0067 coins(roughly)  There are not a lot of faucets out there, I think if you are able to get .001 coin per hour you are doing really darn good.  More than likely you are going to earn roughly .00067 coins an hour, or around 20 cents.

Yes that it true payout from faucet almost like nothing just waste of time to visit again and again just for some satoshi i don't think that is good idea to earn some bitcoin.

it is true when a new comer knows about bitcoin and the information what he gets will be first about faucets to earn free bitcoins, but after some time, he will get fedup by knowing that it is taking time and no benefit he will stop bitcoin and faucets . so everyone should be knowing about bitcointalk.org site and signature campaign details, to earn high bitcoin very soon.

[blackmachinegun]

don't take it seriously. i think you hurt your self and bitcoin itself by exposing something like this. faucet is the first step people know and own bitcoin.