In 2015, faucets are bad for bitcoin

[Lucius]

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.

Believe it or not, My Referrals make me around 60 K Satoshi a week, Me without even logging into my account, Once a week i go and withdraw what i have earned. If you take in real longterm consideration, of about 10-20 years, Just like back in the day, 5 bitcoins were given each roll. These 700- 800 satoshi per roll may become 70-80$ or may be even higher. Its not bad to have the additional income which in future may be life changing one. Bitcoin will create new elites thats for sure.

Completely and fully agree with this. I am a little tired of hearing many people say faucets are not worth it and are bad, while at the same time many other people say they are expecting Bitcoin to go up a lot.

Perhaps they are not worth it now. But maybe will be worth it later. Futhermore... you do not have to lose that much time when using faucets. I have an online job and manage to claim from faucets here and there while I am doing it (for example, when I am waiting for my email to load or a weighty page to show). It adds up.

I also agree with you, no one will get rich from the faucet nowadays,although some people have nice earnings from them.
The problem is that many use faucets in the old way, individually and with direct payments,it is bad for Bitcoin network and for them one day when
decide to spend Bitcoins,they will pay a greater fee.

Rotators make it easy when work with the faucets, and services such FaucetBox solve the problem of sending small amounts of bitcoins.
I do not see faucets as something bad for Bitcoin, in a way they help in promoting Bitcoin, and the owners of faucets buy Bitcoins to paid they users.

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[leex1528]

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.

Believe it or not, My Referrals make me around 60 K Satoshi a week, Me without even logging into my account, Once a week i go and withdraw what i have earned. If you take in real longterm consideration, of about 10-20 years, Just like back in the day, 5 bitcoins were given each roll. These 700- 800 satoshi per roll may become 70-80$ or may be even higher. Its not bad to have the additional income which in future may be life changing one. Bitcoin will create new elites thats for sure.

Completely and fully agree with this. I am a little tired of hearing many people say faucets are not worth it and are bad, while at the same time many other people say they are expecting Bitcoin to go up a lot.

Perhaps they are not worth it now. But maybe will be worth it later. Futhermore... you do not have to lose that much time when using faucets. I have an online job and manage to claim from faucets here and there while I am doing it (for example, when I am waiting for my email to load or a weighty page to show). It adds up.

I also agree with you, no one will get rich from the faucet nowadays,although some people have nice earnings from them.
The problem is that many use faucets in the old way, individually and with direct payments,it is bad for Bitcoin network and for them one day when
decide to spend Bitcoins,they will pay a greater fee.

Rotators make it easy when work with the faucets, and services such FaucetBox solve the problem of sending small amounts of bitcoins.
I do not see faucets as something bad for Bitcoin, in a way they help in promoting Bitcoin, and the owners of faucets buy Bitcoins to paid they users.

I think faucets are great for Bitcoin.  They introduce you to Bitcoin and are able to give you a small amount of coins without hurting anyone.  Like someone else said as well, when faucets first started and they were giving out BTC in loads, people didn't know they would one day be worth a lot of money back then.  Maybe 1000 satoshis will be worth something one day.

[Kevin77]

We can not simply ignore faucets, it has many factors influenced with bitcoin ecosystem.
1. Faucets are initial attractions for new comer into bitcoin
2. Today's less amount of satoshi may worth hundreds of dollars in future.
3. Faucets help bitocin to reach many new wallets.
4. Faucet owners buy bitcoin to refill. But users never get enough fund to sell in exchange.
5. Facets are better than PTC sites. Means, bitcoin has refreshed one online industry.

[The Sceptical Chymist]

Another thread where everyone posts the same fucking response.  You people and this forum in general are pathetic.   

Also to OP, mining btc is basically sitting around doing nothing and getting paid for it, so that argument is extremely weak.

[mixan]

Another thread where everyone posts the same fucking response.  You people and this forum in general are pathetic.   

Also to OP, mining btc is basically sitting around doing nothing and getting paid for it, so that argument is extremely weak.

Not if you have multiple places with mining equipment. You are not on you butt all day doing nothing.
You are constantly monitoring all the hashrates and removing the ones that are not performing to your liking.

And to your quote about responses to threads on the forum, that is how forums work bud. Let mods do their jobs unless you are one, if not then ignore the topic. Simple solution to your argument on this problem.
Have a nice day 

[The Sceptical Chymist]

Also to OP, mining btc is basically sitting around doing nothing and getting paid for it, so that argument is extremely weak.

There's an initial investment, the cost of electricity and you need to monitor your mining rig. That's not the best comparison.

And I would argue that (work/payoff):  faucets>>>>>>mining.  With faucets there is also the cost of electricity, and you are doing work on the keyboard.  And the reward is exceedingly small.

[knowhow]

Faucets introduce bitcoin for the most,faucets potencial income without have to spend a penny is huge ,making 0.01btc daily from referals is 0.30 btc montly without do nothing.... soo btc are bad for who?Besides these even google is making thounsands on faucets with the advertisements.

[jaberwock]

If they think they can make good money by doing almost nothing, they will quickly see they can't, so it is not a problem.

And some people get into BTC because of faucets, so they are no harm.

[Slark]

Believe it or not, My Referrals make me around 60 K Satoshi a week, Me without even logging into my account, Once a week i go and withdraw what i have earned. If you take in real longterm consideration, of about 10-20 years, Just like back in the day, 5 bitcoins were given each roll. These 700- 800 satoshi per roll may become 70-80$ or may be even higher. Its not bad to have the additional income which in future may be life changing one. Bitcoin will create new elites thats for sure.

You realize that 60 k satoshi is now exactly like 0.18 USD, right? So your weekly faucets income is 2/10 of dollar?
And you still claiming that faucets are worth it? I can't see how.

[leex1528]

Believe it or not, My Referrals make me around 60 K Satoshi a week, Me without even logging into my account, Once a week i go and withdraw what i have earned. If you take in real longterm consideration, of about 10-20 years, Just like back in the day, 5 bitcoins were given each roll. These 700- 800 satoshi per roll may become 70-80$ or may be even higher. Its not bad to have the additional income which in future may be life changing one. Bitcoin will create new elites thats for sure.

You realize that 60 k satoshi is now exactly like 0.18 USD, right? So your weekly faucets income is 2/10 of dollar?
And you still claiming that faucets are worth it? I can't see how.

I understand your thinking that 60k is not worth it due to the amount of time.  But what happens if Bitcoins value does go up to 10,000 dollars a coin.  He does that for 1 year, he has a lot of money.  this is not even including anything that he does extra of course.  Bottom line, faucets probably won't make you rich.  But it isn't a waste

[bitgolden]

We can not simply ignore faucets, it has many factors influenced with bitcoin ecosystem.
1. Faucets are initial attractions for new comer into bitcoin
2. Today's less amount of satoshi may worth hundreds of dollars in future.
3. Faucets help bitocin to reach many new wallets.
4. Faucet owners buy bitcoin to refill. But users never get enough fund to sell in exchange.
5. Facets are better than PTC sites. Means, bitcoin has refreshed one online industry.

Yes faucets are eternal part of bitcoin environment. Most of the people get into bitcoin for the reason of free money which is still possible only with faucets. Like you said faucets help bitcoin community in many big ways. So, we can not simply ignore faucets.

[countryfree]

Also to OP, mining btc is basically sitting around doing nothing and getting paid for it, so that argument is extremely weak.

There's an initial investment, the cost of electricity and you need to monitor your mining rig. That's not the best comparison.

Very true.  I see miners as business owners, and that's exactly what they are. The BTC fan mining on his home computer when he's at work is long gone. If you've seen the pictures of the Chinese farm in China (sorry, I can't find them right now), they're paying people to monitor their equipment 24/7.

[thejaytiesto]

Faucets are good. They redistribute the coins to people. No one is going to care to try Bitcoin out if they have to buy it, but if you can get some symbolic amount for free to experiment with transactions, creating addresses, sending to friends and whatnot. This way it can get you interested and this person might stay arround. If the entrance is buying, is not as appealing. We need this because we are still a small community compared to the rest of the world, 2015 is still very early days.

[quantumgravity]

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 are only good for those running them because they get ad revenue.

Faucets could be beneficial to new altcoins.

[ranochigo]

Also to OP, mining btc is basically sitting around doing nothing and getting paid for it, so that argument is extremely weak.

There's an initial investment, the cost of electricity and you need to monitor your mining rig. That's not the best comparison.

And I would argue that (work/payoff):  faucets>>>>>>mining.  With faucets there is also the cost of electricity, and you are doing work on the keyboard.  And the reward is exceedingly small.

With faucet, the cost of electricity is a few hundred times smaller and the effort is much bigger while having low payouts. You're essentially making a bet when mining, the difficulty may rise suddenly or the price may drop suddenly. You would risk your ROI opportunity this way.

[quantumgravity]

Also to OP, mining btc is basically sitting around doing nothing and getting paid for it, so that argument is extremely weak.

There's an initial investment, the cost of electricity and you need to monitor your mining rig. That's not the best comparison.

And I would argue that (work/payoff):  faucets>>>>>>mining.  With faucets there is also the cost of electricity, and you are doing work on the keyboard.  And the reward is exceedingly small.

With faucet, the cost of electricity is a few hundred times smaller and the effort is much bigger while having low payouts. You're essentially making a bet when mining, the difficulty may rise suddenly or the price may drop suddenly. You would risk your ROI opportunity this way.

If you want to work for about $0.02 per hour then faucet away!

[visual111]

I don't think faucets are bad. they encourage people to play a bit with their coins; maybe that's how they get into BTC

[~Bitcoin~]

Yes faucet will attract new face to  bit coin who will at least create wallet. And like if you open bank accounts you will try to fill it with some money people will try to earn more bitcoin and if they fail they will even try to buy them. In this way faucet are good for adoption of bitcoin and it should stay for some more years.

[CasioK]

We can not simply ignore faucets, it has many factors influenced with bitcoin ecosystem.
1. Faucets are initial attractions for new comer into bitcoin
2. Today's less amount of satoshi may worth hundreds of dollars in future.
3. Faucets help bitocin to reach many new wallets.
4. Faucet owners buy bitcoin to refill. But users never get enough fund to sell in exchange.
5. Facets are better than PTC sites. Means, bitcoin has refreshed one online industry.

Yes faucets are eternal part of bitcoin environment. Most of the people get into bitcoin for the reason of free money which is still possible only with faucets. Like you said faucets help bitcoin community in many big ways. So, we can not simply ignore faucets.

Faucet are still a busiest bitcoin earning sources. Many faucet owners still need to refill their account some time more than once per day. This means bitcoin community still look for faucets for some free bitcoins by simply solving captchas.

[ANdr0id]

Also to OP, mining btc is basically sitting around doing nothing and getting paid for it, so that argument is extremely weak.

There's an initial investment, the cost of electricity and you need to monitor your mining rig. That's not the best comparison.

And I would argue that (work/payoff):  faucets>>>>>>mining.  With faucets there is also the cost of electricity, and you are doing work on the keyboard.  And the reward is exceedingly small.

With faucet, the cost of electricity is a few hundred times smaller and the effort is much bigger while having low payouts. You're essentially making a bet when mining, the difficulty may rise suddenly or the price may drop suddenly. You would risk your ROI opportunity this way.

If you want to work for about $0.02 per hour then faucet away!

Well since you put it that way, where do I sign up?
On a serious note. That is not even what they pay the labourers in mexico or child labour in india to do their work.
Is your time really worth that much? Even clicking on ads pays you that for 1 minute of your time.