Bitcoin Faucets? More Like Bitcoin Timesinks! (Start to monetize your habits the smart way)


Are Bitcoin/Altcoin Faucets really worth your time?


I am not a practitioner of clickbait, and I hate sugarcoating an obvious turd, so here you go; the short answer is:
It all depends on what your time is worth. 
But my suggestion would be to have a quick three minute look below if you want to finally understand more of the process behind of the most used, yet least understood blockchain mainstays.

 

Faucet-liquidity.jpg



A word being thrown around a lot in relation to faucets, is the word profitable. The correct word and angle of attack, should be cost-effective. Another one is free, which is wrong because you still have to solve captchas and even expose yourself to bad actors from all those ads. 

Indeed, the most facile conclusion is that you get cryptocurrencies for little to no work. But it is all relative to what your time is worth. If you are from a less rich country, it can be worth it, but in the very long run. It requires true, martial-arts-like dedication, and solving those damn captchas and claiming constantly, to make it worth it in the future; or getting in the referral game, but that requires quite an aggressive approach. A good effect would be that they are a gateway for teaching people to get involved with crypto, but this is not the most lucrative, for them. 

Think about it this way: in the (very real) possibility Bitcoin reaches even 10% of the global population, this faucet addicts might be the geniuses of the future. I am sure there were a lot of people who got rich off of stacking sats back in the early 2010s, when faucets gave you amounts as high as 0.1 BTC. Seen from this angle, it doesn't sound like worst idea in the world. If this were to happen, even a small amount, like 0.03 BTC will put you quite well above the average user holding.

If you really really REALLY have a hard-on for faucets, you can learn to be the casino, instead of the gambler, and create your own faucet (you can do it in less than a week with minimal or no investments). But I wouldn't do that, since you basically profit off the inability of a crypto beginner to understand profitability. Also, what the fauceteers never tell you, and all their affiliate marketer hordes, is that every faucet requires an obscene amount of USD equivalent in order to withdraw. So the conclusion is that the grand majority of these users never reach these prohibitive amounts for withdraws, which means the BTC will never leave the fauceteer wallet, and this is one of their main sources or profit, besides other obvious ones like earning money from ad traffic.

As a faucet runner you are essentially wasting the average guy's time. If you have a moral code, you will find it hard to do it.

And the most annoying crypto buzzword on the market is passive income, which is again wrong in most of the times, because of the aforementioned actual work you need to do to get those sweet sats. Instead, I choose to exclusively suggest anyone only self-monetizing solutions like Presearch (get paid for searching the web), Brave (simply surfing the web and watching few ads per day), Swash (monetize your surfing data), lbry.tv (the free-speech crypto Youtube) and Publish0x, because they come to the closest to the meaning of the term passive income. These solutions chose to distance themselves from the faucet model, and I quite enjoy it and expect it more.

Please feel free to suggest similar projects, and leave your referral links below. Let's transfer some of that wealth back from the Hydra!

Thanks for your curiosity, cryptonerds!

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ACLcrptpnk
ACLcrptpnk

Multi-disciplinary artist, polymath and escapist.


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