Today i will talk about make Bitcoins with Money. Several ways to invest or trade are already known i.e: Bitoperation(IQ Hoaxes..), Casino Gaming, Mining shares,… But noone will talk about Just owning them. I think in 6 years from now, the trading price to USD could hit 25.000 $! A freaky and horrible vision. Buy 40 Bitcoins(100.000$) wait 6 Years and you’re owner of 1.000.000$. Even if you’re a criminal and looking into a “timeout” or “vacation”. This could be your Deal! Buy NOW! HERE at BitPanda.
my goal for this post is to show you, how not to run a bitcoin faucet. I tried it but later i will explain what i have done wrong!
What is a bitcoin faucet? It provides you free money for visiting a page full of Ads. Type your bitcoin address, solve a captcha and click a claim button.
Easy going! Grabbed free webspace with a free subdomain, set up faucetinabox provided by faucetbox and put some Ads on this page. 100000 Satoshi is needed to start. Looked for faucet lists to apply for. Activate!
I thought it would be enough profit to refill this faucet.
- NOT in the first time…
- NOT after your faucet is a victim of bots…
It thought it makes no difference to use a real TLD or free subdomain.
- Google AdSense does! Denied from Service.
- Some other better paying Services too! Denied from Service.
- No SSL Cert… less “security”.
I thought it would be easy.
- Try many captcha methods to prevent bots. Doesn’t worked.
- Tried to script an Anti-Bot system. Doesn’t work.
- Lowering claims. No one visited it any more, it died.
What i have done wrong?
- Free Subdomain isn’t able to apply on Google AdWords.
- Doesn’t earned enough to refill.
- A free Subdomain is harder to find via Google Search.
- Used not an own faucet script.
- Owned too less Bitcoins to start with properly.
- Doesn’t Geoblock to hold Bots out.
- Provide a claim under 200 Satoshi which is a magical deadline.
To see how a faucet not should be you can visit it. It is now due no Balance, not claimable! TO FAUCET
What others could do better ?
today i will show you, why asic miner are not efficient or in which cases it could be a Solution.
Let’s start with power costs, running a “efficient” device consumes about 1350-2000 watts. Conclusion: You should earn much more in a hour than your costs of electricity.
The best (W/TH<100) available miner i found is AntMiner S9 14TH/s @1350watts for about 2200 USD. An other product is SMART Miner 3.0 Rackmout with 20TH/s@2100W for 4710 USD. You can use any calculator to see even the 14TH/s variant is barely refinance itself after one year and you don’t have power costs in your calculation. Mostly calculator programmers forgot to use an increasing difficult.
At this moment you would got about 4 Bitcoins after a whole year,24/7 and 14TH/s consuming 1,4kW -> 12264kW/p.a. by costs of 0,07-0,30 USD p.kW. results in 858,48 – 3679,20 USD p.a. We going ruin ourself. But we can produce this power!
The only case which could be a good requirement for a mining project would be existing solar panels or other renewable energy sources with a house battery. By using power in situations it can’t be used or stored. This could be even better than selling this power to local energy providers.
After using it about a year, you should sell the hardware and buy a new one with much lesser W/TH and higher TH. But your profit would be marginale. It’s like i said,it would barely refinaincing itself. The profit is what you will got on reselling it. I have to lie but it could be 600 USD but only if you have no power costs. Better tactic make some bitcoins and selling the device after 4 months. You should got about 2 bitcoins and have a better price by selling this device, overall it could be 200 USD more than waiting a year.
I have to admit the future bitcoin price is not calculated in. If it doubled after one year, you are definitly on winner side. Else it drops, you will lose money.
- High costs for buying an asic miner
- Need “free” energy
- What if something happend to the device?
This risk and costs more remarks as an investment and not a producing machine.
That’s why i not recommend to give mining a try. Thanks for reading. Next time i will talk about make and owning a bitcoin faucet and what you shouldn’t do!
today i want to let you know, how bitcoins shouldn’t be earned. Not to confused with CAN’T. You CAN’T earn Bitcoins with SCAMS like “DOUBLE BITCOIN IN 5 DAYS”, “Bitcoin hacks” or such a thing.
Very inefficient methods are:
- Mining with pc hardware: Electricty costs will kill you. buying bitcoins is much cheaper.
- Mining with asic miner: Expensive,increasing difficult results in less income per day.
- Online Casino: They want you as player, let you win a bit and rip you off afterwards. Like every online casino.
- Click bitcoin faucets with less than 500 satoshi per visit: if you got 500 satoshi per visit equals 4 Sites ~0,01 USD for 2 Minutes bored lifetime limited to availibility of faucets. Sorry, but I want more!
- “Investments”: Working a few days and running away with your bitcoins/loosing it in a bad trade.
Let me know how do you think about it. What should be on this list too?
I will try to write about my experiences in making money with bitcoins. At first, what the … is a bitcoin? Short; digital money. Nothing you can hold in your hands or useable without eletricity (possible with cold adresses but trust could be a problem). But it has a worth because someone will pay with something real for it.
It has to be said at the beginning, the fastest way to GET Bitcoins is to buying it! For example at Coinimal or Coinbase.
This should be a good start. Next time i will tell you which methods are not good.