In the spirit of creating original content for this sub, I thought I'd do a post about some overlooked aspects of the bitcoin ecosystem that supports the bitcoin price. Faucets The original faucet was of course created by Gavin Andreson in 2010 to give people a little share of bitcoin and spread the idea around. His faucet was a simple dispensing page. However people took his idea and created a mini-industry funded by advertising. The reason I've mentioned faucets as part of the bitcoin support system is that they convert fiat into bitcoin. That is, they earn fiat from advertising (usually Google Adsense) and spend a portion of this money on actually buying bitcoin and dispensing it from their faucet. The following article follows someone who set up a faucet from scratch and how he made some profits out of it: https://99bitcoins.com/complete-beginners-guide-make-money-bitcoin-faucet/ His faucet was dispensing some $225 a month in bitcoins. Faucetbox lists a stagerring 743 bitcoin fauctes: https://faucetbox.com/en/list Even if each dispensed a conservative average of $100 worth of coins a month, that amounts to $74300 a month converted from fiat to bitcoin or $891000 per annum. Some faucets dispense much more of course - the big faucets like moonbitco.in dispense several thousand dollars worth of coins each month. Note that if a competitor to bitcoin was to emerge, we'd see them first in the faucet space because a) popular coins tend to have users eagerly trying to collect the coins creating demand and b) faucets catering to those users are converting fiat into those particular alts, supporting their price. Faucetbox has 148 litecoin faucets, 248 dogecoin faucets, 41 peercoin faucets, 18 primecoin faucets, and 63 Dark faucets. The much ballyhooed ethereum is absent... Scrypt Pools Scrypt pools mine scrypt based proof-of-work alts and then sell those alts to buy bitcoin to pay their miners. In the process they convert potential competitors to bitcoin into a giant support system for bitcoin. However, if scyypt pools opt to pay out in other coins, then they become a support system for that alternative coin. Prohashing gave an interview to Forbes where they report:
Changes in behaviors by Prohashing’s miners also indicate that they recognize problems with the Bitcoin network. Every time there’s a problem with congestion, he says more of its miners choose to be paid in a competing currency
Here's the Prohashing payout chart: https://prohashing.com/help.html?topic=charts-payoutsowed About 70% of their miners are still opting to be paid in BTC. The others are opting for Litecoin, Ehereum, Dash, Digitalcoin and others. A similar pattern can be seen from the scrypt pool "Xpool". Of their top 20 hashers, 14 are opting to be paid in alts (Dash, Bitcoindark, NXY and Litecoin). See http://www.bitcoindark.ca/leaderboard The scrypt pools arn't as big a support system as the faucets - but between them and the faucets they produce a steady regular monthly support for bitcoin and act as demand for the new coins being generated by the miners. If this support disappeared or switched to another cryotocurrency, BTC would have to rely purely on speculators to supply demand for the coin.
I'm just getting into Bitcoin and I'm playing around some faucets just so I can see how I receive Bitcoin in my wallet (I realize faucets are mostly useless, but it's the only way I can get some Satoshi to get paid and see how that works). Most websites seem to send the money to websites likes epay.info or faucetbox.com. These websites seem to pay weekly. Why do we need these websites? Can't faucets just send money directly to my address?
Bitcoins are paid directly to the user's bitcoin wallet after how assets earned reached a minimum threshold of 100,000 satoshi. You can get paid to your FaucetHub account as soon as at least 35,000 Satoshi ($ 2) have been collected. In addition, the Cointiply team is very active in the Bitcointalk forum, answering questions and helping new users. The site does not immediately request a bitcoin ... Skip to content. GOFJ Blog Main Menu. Home; Paid Surveys; Online Jobs; Bitcoin; Data Entry; Top 10 List of High Paying Free Bitcoin Faucets 2020. By Tamil Arasan / Bitcoin section, Top 10 ratings. Share; Tweet; Pin; LinkedIn; The. In short, at the top of this page you will find a coinpot faucet list 2020 of all coinpot.co faucets. In fact, Our coinpot faucets list 2020 is fully responsive and ... Free Bitcoin is owned by a Bitcoin mining company. (In fact, if you wish, you can earn even more Bitcoin by “lending” your CPU to help their operation.) However, this website is not a mining site or an investment site. It is a Bitcoin faucet that features games, a weekly lottery, and lets you get bitcoins (Satoshis) every hour. Since its inception in late 2013, FreeBitco.in has grown such ... Email Address Mail.ru or other associated email addresses are not supported. Raining Free Bitcoins is a Bitcoin faucet. You can claim free Bitcoins with NO strings attached. Just submit your Bitcoin wallet address, fill in the capture to prove you’re not a bot and you’ll receive Bitcoin for FREE. This faucet uses Faucetbox to pay its users. Get paid when you want to (minimum withdrawal is .001 btc).
This video is unavailable. Watch Queue Queue. Watch Queue Queue today i am talking about the best replacement for faucet box which is going out of business soon! links faucet hub - http://faucethub.io/r/172540 bitluckey-h... Get up to 9999 Satoshi every 6 hours, payment minimum of 1500 satoshi in the faucet of bitcoins http://fortuna.online/ Who doubts how the FaucetBox payment site, I'm showing a little about this site. Check out the video, if you are still in doubt, send an email. Good Profit! ... Best Bitcoin Faucets 10 Min. 5 Min. 25 Sec."FaucetBox" GETBitcoins. Loading... Unsubscribe from GETBitcoins? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 151. Loading ...