Faucets Are For Suckers - Coinpot, Or "How To Make Less Than $0.0004 Per Click"
In the interest of science, I have recently experimented with the "cryptocurrency faucet game." I don't find this worthy of anyone's time, but I know "free anything" is interesting for many people, and I was getting questions about it, so here's the best place to start, and why you shouldn't bother to do it.
Coinpot seems to be the easiest/best multi-wallet for using faucets, and they even provide bonus tokens for each claim. You'll get a lot of extra value (relatively speaking) in both convenience and token bonuses by using Coinpot. All you do is use the same address to sign up for CoinPot as you do for the various supported faucets (7-8, atm, BTC, BCH, Dash, Doge.) If you want referral links, pop to the link in my Sources section at the bottom; I didn't bother to get mine.
As you can see, the interface is attractive and well organized. All the information you could ask for is here. There's even 2FA to protect your penny-candy money.
Here's what the main supported Bitcoin faucet, Moon Bitcoin, looks like after you've been forced to disable your ad-blockers:
I have avoided bothering with these in the past (outside the occasional roll on the Biz_Classic Ark faucet), owing to the stupendously low payouts. Frankly, in most cases, these faucets cost you more to click them than to do nothing. Your mouse does wear out after all, and you need to use calories.
I'm not just joking, either. Your average mouse is designed with tactile switches to last "only 100,000" clicks or more (gamers regularly record 3-5 million clicks per year or more.) Add to this the electricity, cost of time, human energy, captcha keyboard strokes...this isn't an entirely free task.
This is all particularly relevant when you are receiving .00000030 Bitcoin per click -> refresh -> click > captcha > click submit "cycle."
However, I can remember a time when Bitcoin faucets spit out fractions of Bitcoin that would be wholly unsustainable today. It's possible these amounts of crypto would be relevant in the future.
Nevertheless, the time wasted on these faucets could be used for almost any venture, even checking arcades for quarters, and it would be more profitable. If you're clicking faucets, you're some sort of advertising-wage-slave making penny(ies) per day.
The potential cost of getting Mal-ware alone through the various advertiser-laden faucet sites is enough to make this a non-starter. Your advertising data and browsing habits alone are worth more than you are receiving in return.
Faucets are for suckers. Get a job, loser.
We also have a Radio Station! (click me)
...and a 10,000+ active user Discord Chat Server! (click me)
Sources: Google, Cryptocurrencyhub.io, https://cryptocurrencyhub.io/how-to-make-900-to-2-million-on-coinpot-in-1-yr-a17b28fb3056?gi=6dfc8fd70396
Copyright: SmartSteem, PALNet, SPL, The Offspring, Coinpot, MoonBitcoin
Where I live you need to make 27,500 clicks per hour to reach minimum wage.
Coinpot faucet can make a good amount but it is basically a MLM scheme. The only way to actually make a good amount is to get a lot of referrals and never miss a day. Once you have a lot of referrals I have seen people make hundreds of dollars a day.
Agreed, but now we're back to doing quite a bit of work, and if you're willing to work and be that reliable every day, you might as well do almost anything else.
The people that do this generally use spam techniques.
I started out with faucets and have fond memories of it. Let me understand the basics of crypto and build off from there. Of course it truly took a lot of time and energy but I would not call it a total waste. At the very least on coinpot you can earn your crypto and convert to doge for the free transaction fee payout.
I agree, I found it a great stepping stone to test the waters. Somthing to play with while I began to understand crypto.
I will never understand people, who think that their time is worth less then $0.01 an hour. I like free coins, I like airdrops and bounties, but faucets it's a joke.
Very interesting....
This has anything to do with Pot?
D.
They use it to drive traffic to sites .It's mostly those new to the cryptosphere that get caught up in the faucet game.
I had a go on the faucets a few months back. Such a waste of time for so little, i agree!
Most of them also have a minimum withdrawal and i didnt even get near to that!
If you use all faucets from coinpoit, you will reach the payout very fast, you can convert all to one currency like dogecoin and you can payout weekly!
"Most of them also have a minimum withdrawal and i didnt even get near to that!"
This is the hidden secret to how they work. They actually pay out way less than they show, because most people don't ever get a withdrawal.
You can't really fault them, though, given somebody has to pay the transaction fee.
Yeah i figured that out pretty quickly. Most people will be like me and not even claim any rewards - and yes I agree this is how they work
Ha... my upvote gives much more than those faucets lol and I don't even have much voting power.
Faucet farming was one of the first things I did when I got into crypto and it’s was at a time when faucets spit out an ok amount of crypto but I did the math and it really wasn’t worth my time it was just a fun hobby to claim every now and then because I’m always at my pc for work
But that’s not to say it’s not profitable there’s a few YouTube shills making decent coin shilling their referral links and making money off people trying to earn that minimum payout value! If you get enough suckers on your side then it’s going to get you paid!
You can also take those pennies to power up your steem account when the prices are right like right now!
I love this post, I did the faucet thing last year when I just started getting into crypto. It was a tremendous waste of time and energy.
Especially here on Steemit...you'd probably make far more posting, even if you are a minnow.
And that my friend is exactly what happened.
Did it help you learn anything about crypto, other than it was a waste of time/energy?
Well truth be told I did learn a lot about crypto from doing that, so from that perspective it was not a wast of time and energy.
Yeah it's sad and hilarious that people still try and use faucets while they can just get on Steemit and way outperform here.
Same as with home mining... I've already made more on Steemit than I owned in BTC from home mining when I did it in 2013/2014 and hodled all the way through the dip.
A while ago I posted on Reddit and spoke about Steemit in a thread about faucets and home mining. You know my writing style, I tried to paint an objective and clear picture. Unfortunately I was downvoted and insulted and told to 'go fuck off with your scamcoin'. Home-mining and faucet-clicking is obviously much 'better'......
I don't understand why it's so hard to convince people to try Steemit. I've tried to convince half a dozen people in RL too and none of them even made an account yet.
Lots of interesting questions, few good answers.
Steem is often treated as some sort of ponzi-lite because of the inflationary model.
Paul Watson mentioned steemit and d.tube in an interview with stefen molyneux ( jump to the 57 minute mark, in video below ). They are going to continue fighting the youtube censors, more publicity that way (Streisand effect). There are already quite a bit of natural law libertarians media personalities tapping into steem, but if something as large and controversial as infowars made the switch-well just be glad you got in early. Those who called it a scam coin could have played around in the steemit social expirement and hodl without scamming anyone, and let reality be the judge. But they made their choice.
https://www.youtube.com/watch?time_continue=3420&v=5LFXDKrPJZk
@stefan.molyneux
https://steemit.com/bitcoin/@nirsarkarpintwo/bitcoin-is-close-to-cutting-fees-with-better-coin-selection