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[PsychoBitch]

Well today as I was scrolling through the faucets I notice there is a new trend from faucets owners. I did a little research and it seems that there are many that are about to go bust.

When I say go bust I meant that their faucet are always empty and have insufficient balance, but they are encouraging users to continue on clicking with the assurance that once the faucet has been refilled you can then claim your coins. But this type of strategy is just not sustainable because if the faucet is always empty it basically means they owing the users payment that has not been made.

As time past their debt gearing increase and they won't be able to pay all the users. Its kinda like a bank but with negative balance. Especially those faucets which does not instantly pay to your faucet hub account.

For example they owe you 1000 satoshi and while waiting for it to refill you continue collecting and so does other users. When the faucet are refilled there is a overdraft of negative balance and everyone starts withdrawing. In just moments the faucet will be empty again and you probably have to wait a few days or a week for it to be refilled.

Eventually the negative balances overdraft will build up to the point where they cannot afford to pay everybody, but user have already spend their time clicking. I am not referring to any faucet in particular but lets take a popular one like FIREFAUCET as an example. Up to date I believe FIREFAUCET probably has the biggest negative balances among all faucet but this is just from my own personal speculation.

They buildup a huge user database by enticing users to with multicoin and auto faucet. What not to like right a faucet that can auto collect and has almost all the coins. But as of to date the only coin they refill is usually bitcoin and even that gets gobbled up within seconds. So you can imagine how much they actually owe their users. Because they are unable to pay they start imposing ways to limit users from withdrawing like capping on daily withdrawals amount.

It might look like they are fixing things but actually they are only making their negative balances overdraft bigger. Say if I collected 1000 satoshi a day from a faucet buts its only able to let me withdraw me 500 a day, basically if I continue collecting 1k satoshi a day in 10 days they would have owe me 5k satoshi.

Now take 5k satoshi and multiply it with 2000 users. That is a whooping 10,000,000 satoshi in their negative balance overdraft in just 10 days assuming every user only collected 1k a day. But users are still constantly clicking because they think they will get paid. Eventually the negative balances will be so huge that at anytime their faucet is refilled it gets gobbled up in a matter er of second because users have accumulated a huge amount over the time.

The concept of faucets that do not pay directly to faucethub is risky, and if the faucet constantly have insufficient balance it reflect that either the owner is taking a way too much for himself or he is unable to pay users. They are just buying time and eventually the faucet will go bust.

So do list down which faucet you think will go bust if you reply. Thanks and bye.

 

[BMF]

Thank you for taking the time to share such great information and expose the way many scam site owners operate their sites.

I went ahead and moved this topic to the proper section and given you a 500 BMF Points rewards for sharing such great info with us.

 

[AdsRepay.com]

Well today as I was scrolling through the faucets I notice there is a new trend from faucets owners. I did a little research and it seems that there are many that are about to go bust.

When I say go bust I meant that their faucet are always empty and have insufficient balance, but they are encouraging users to continue on clicking with the assurance that once the faucet has been refilled you can then claim your coins. But this type of strategy is just not sustainable because if the faucet is always empty it basically means they owing the users payment that has not been made.

As time past their debt gearing increase and they won't be able to pay all the users. Its kinda like a bank but with negative balance. Especially those faucets which does not instantly pay to your faucet hub account.

For example they owe you 1000 satoshi and while waiting for it to refill you continue collecting and so does other users. When the faucet are refilled there is a overdraft of negative balance and everyone starts withdrawing. In just moments the faucet will be empty again and you probably have to wait a few days or a week for it to be refilled.

Eventually the negative balances overdraft will build up to the point where they cannot afford to pay everybody, but user have already spend their time clicking. I am not referring to any faucet in particular but lets take a popular one like FIREFAUCET as an example. Up to date I believe FIREFAUCET probably has the biggest negative balances among all faucet but this is just from my own personal speculation.

They buildup a huge user database by enticing users to with multicoin and auto faucet. What not to like right a faucet that can auto collect and has almost all the coins. But as of to date the only coin they refill is usually bitcoin and even that gets gobbled up within seconds. So you can imagine how much they actually owe their users. Because they are unable to pay they start imposing ways to limit users from withdrawing like capping on daily withdrawals amount.

It might look like they are fixing things but actually they are only making their negative balances overdraft bigger. Say if I collected 1000 satoshi a day from a faucet buts its only able to let me withdraw me 500 a day, basically if I continue collecting 1k satoshi a day in 10 days they would have owe me 5k satoshi.

Now take 5k satoshi and multiply it with 2000 users. That is a whooping 10,000,000 satoshi in their negative balance overdraft in just 10 days assuming every user only collected 1k a day. But users are still constantly clicking because they think they will get paid. Eventually the negative balances will be so huge that at anytime their faucet is refilled it gets gobbled up in a matter er of second because users have accumulated a huge amount over the time.

The concept of faucets that do not pay directly to faucethub is risky, and if the faucet constantly have insufficient balance it reflect that either the owner is taking a way too much for himself or he is unable to pay users. They are just buying time and eventually the faucet will go bust.

So do list down which faucet you think will go bust if you reply. Thanks and bye.

thank you so much for sharing this information. much appreciated.

I have been involved with faucets and find the above to be true :)

thank you

 

[Diwix]

Thank you for taking the time to share such great information and expose the way many scam site owners operate their sites.

I went ahead and moved this topic to the proper section and given you a 500 BMF Points rewards for sharing such great info with us.

''The concept of faucets that do not pay directly to faucethub is risky '' - I do agree with this, from my experience been scammed , i learn that directly pay more secure than with minimal withdrawal. Sure there are still faucet that use minimal Withdrawal still legit

 

[KarthikP]

The faucets that don't pay directly to faucethub and that has a high minimum withdrawal amount ( like 0.01 BTC) are an obvious scams. These faucets promise users with high rewards but never payout.

 

[HJVC Notes]

The concept of faucets that do not pay directly to faucethub is risky

80% correct , 20% wrong. Free Bitcoin and Moon Faucets don't use FaucetHub payment processor.

 

[Diwix]

The faucets that don't pay directly to faucethub and that has a high minimum withdrawal amount ( like 0.01 BTC) are an obvious scams. These faucets promise users with high rewards but never payout.

never experience site that minimum withdrawal 0.01 Btc, it will take years to withdrawal maybe . But mostly i have bad experience with PTC site ($), from 10 only just 2 site paid. To be honest i collected overall from crypto faucet

 

[KarthikP]

never experience site that minimum withdrawal 0.01 Btc, it will take years to withdrawal maybe . But mostly i have bad experience with PTC site ($), from 10 only just 2 site paid. To be honest i collected overall from crypto faucet

There were some faycets where minimum withdrawal is 0.01 or 0.001 Bitcoin. By looking at it , I didn't even claimed once from that faucet , because I knew it was an obvious scam. And ptc sites , I am not their fan at all. Famikyclix cheated on me.

 

[PsychoBitch]

Thank you for taking the time to share such great information and expose the way many scam site owners operate their sites.

I went ahead and moved this topic to the proper section and given you a 500 BMF Points rewards for sharing such great info with us.

Heh! thanks boss.

 

[PsychoBitch]

80% correct , 20% wrong. Free Bitcoin and Moon Faucets don't use FaucetHub payment processor.

Actually I was referring to FaucetHub faucets. I don't recall mentioning Moon clan faucets but since you brought it up. Here is my take on them.

The moon faucets have been around quite sometime, their faucet have acceptable amount of ads and minimum redirects. Most importantly they never had an issue with insufficient balance. And they have managed to deliver as advertised. 48 hours upon requesting your withdrawal you will received them and sometimes its not even 24 hours and I have received my payment

I can only assume they are owned by the 1 single owner and payment goes to coinpot which is their micro wallet hence withdrawal is free of charge if you meet their terms if not there is a fees imposed. I think that fair enough. And having their own wallets lets them award you with tokens every time you collect. They do have option to pay to faucet hub but they are not build on FaucetHub platform.

FaucetHub may look like a mircowallet but they are actually acting like a Kingpin taking cuts out of the smaller mobs which is the faucet owners themselves. And because its not really the faucet owners platform there will be some form of abuse and scam going on. Its like say I rented out my premises to others to conduct business vs an owner who conduct business on his own premises. Those who rent their premises rarely take good care of it, because it isn't theirs, those who operate on their own premises will because its their and they have much more to lose.

Its like working or getting a job the faucet owners are the company and the boss and us who collect from them are the employees. Now would you wanna work with a company whose boss is constantly telling you pay is gonna be late this month cause we have insufficient balance in company funds. But the appointment letters says we will be paid not later then every 7th of the month,

When you run a business what you advertise and what you deliver is important. Its shows commitment and management skills, and it will reflect confidence in employees and also clients. If you say within 48 hours then it must be within and not later. If its later then 48 hours you have to inform or notify with a reasonable reason. Once you fail to deliver as advertise people lose confidence and eventually the company go bust, especially if the company business model isn't a sustainable one like what I mentioned in my initial post.

Thats all. Thanks bye. Happy Collecting

 

[Cryptoearner98]

Actually I was referring to FaucetHub faucets. I don't recall mentioning Moon clan faucets but since you brought it up. Here is my take on them.

The moon faucets have been around quite sometime, their faucet have acceptable amount of ads and minimum redirects. Most importantly they never had an issue with insufficient balance. And they have managed to deliver as advertised. 48 hours upon requesting your withdrawal you will received them and sometimes its not even 24 hours and I have received my payment

I can only assume they are owned by the 1 single owner and payment goes to coinpot which is their micro wallet hence withdrawal is free of charge if you meet their terms if not there is a fees imposed. I think that fair enough. And having their own wallets lets them award you with tokens every time you collect. They do have option to pay to faucet hub but they are not build on FaucetHub platform.

FaucetHub may look like a mircowallet but they are actually acting like a Kingpin taking cuts out of the smaller mobs which is the faucet owners themselves. And because its not really the faucet owners platform there will be some form of abuse and scam going on. Its like say I rented out my premises to others to conduct business vs an owner who conduct business on his own premises. Those who rent their premises rarely take good care of it, because it isn't theirs, those who operate on their own premises will because its their and they have much more to lose.

Its like working or getting a job the faucet owners are the company and the boss and us who collect from them are the employees. Now would you wanna work with a company whose boss is constantly telling you pay is gonna be late this month cause we have insufficient balance in company funds. But the appointment letters says we will be paid not later then every 7th of the month,

When you run a business what you advertise and what you deliver is important. Its shows commitment and management skills, and it will reflect confidence in employees and also clients. If you say within 48 hours then it must be within and not later. If its later then 48 hours you have to inform or notify with a reasonable reason. Once you fail to deliver as advertise people lose confidence and eventually the company go bust, especially if the company business model isn't a sustainable one like what I mentioned in my initial post.

Thats all. Thanks bye. Happy Collecting

Now lets round it all up and find the reason for faucets to dry up. Main reason BOTS, Not all people are honest many people use bots, VPN proxy which makes the faucet owners lose money they earn from Shorteners, Ads sometimes they get banned from these ad networks or shorteners and that's why they don't get sufficient money to pay. This is my opinion as one faucet owner whom I know was SCAMMED in this way though he is still paying.

 

[KarthikP]

Now lets round it all up and find the reason for faucets to dry up. Main reason BOTS, Not all people are honest many people use bots, VPN proxy which makes the faucet owners lose money they earn from Shorteners, Ads sometimes they get banned from these ad networks or shorteners and that's why they don't get sufficient money to pay. This is my opinion as one faucet owner whom I know was SCAMMED in this way though he is still paying.

Now faucethub has imposed certain rules against the scammers. In some faycets , if users use bots/VPN , the faucet immediately bans that user. So it's not so easy for scammers to cheat.

 

[vitalspot]

Decent wall of text but what was the point of acusation towards Fire faucet and the need to BOLD IT? The website has more than 2k daily members, is it normal for some periods of time for a faucet with such higher user base to run out of funds? Plus, they often share news and updates on their website about the status of the faucet and the withdrawls. Oh yea, and lets not forget to add my attachment below.

 

[old-newbie]

Well today as I was scrolling through the faucets I notice there is a new trend from faucets owners. I did a little research and it seems that there are many that are about to go bust.

When I say go bust I meant that their faucet are always empty and have insufficient balance, but they are encouraging users to continue on clicking with the assurance that once the faucet has been refilled you can then claim your coins. But this type of strategy is just not sustainable because if the faucet is always empty it basically means they owing the users payment that has not been made.

As time past their debt gearing increase and they won't be able to pay all the users. Its kinda like a bank but with negative balance. Especially those faucets which does not instantly pay to your faucet hub account.

For example they owe you 1000 satoshi and while waiting for it to refill you continue collecting and so does other users. When the faucet are refilled there is a overdraft of negative balance and everyone starts withdrawing. In just moments the faucet will be empty again and you probably have to wait a few days or a week for it to be refilled.

Eventually the negative balances overdraft will build up to the point where they cannot afford to pay everybody, but user have already spend their time clicking. I am not referring to any faucet in particular but lets take a popular one like FIREFAUCET as an example. Up to date I believe FIREFAUCET probably has the biggest negative balances among all faucet but this is just from my own personal speculation.

They buildup a huge user database by enticing users to with multicoin and auto faucet. What not to like right a faucet that can auto collect and has almost all the coins. But as of to date the only coin they refill is usually bitcoin and even that gets gobbled up within seconds. So you can imagine how much they actually owe their users. Because they are unable to pay they start imposing ways to limit users from withdrawing like capping on daily withdrawals amount.

It might look like they are fixing things but actually they are only making their negative balances overdraft bigger. Say if I collected 1000 satoshi a day from a faucet buts its only able to let me withdraw me 500 a day, basically if I continue collecting 1k satoshi a day in 10 days they would have owe me 5k satoshi.

Now take 5k satoshi and multiply it with 2000 users. That is a whooping 10,000,000 satoshi in their negative balance overdraft in just 10 days assuming every user only collected 1k a day. But users are still constantly clicking because they think they will get paid. Eventually the negative balances will be so huge that at anytime their faucet is refilled it gets gobbled up in a matter er of second because users have accumulated a huge amount over the time.

The concept of faucets that do not pay directly to faucethub is risky, and if the faucet constantly have insufficient balance it reflect that either the owner is taking a way too much for himself or he is unable to pay users. They are just buying time and eventually the faucet will go bust.

So do list down which faucet you think will go bust if you reply. Thanks and bye.

this is an eye opener for me as im working with faucets that eventually gets dry and pays later

 

[PsychoBitch]

Decent wall of text but what was the point of acusation towards Fire faucet and the need to BOLD IT? The website has more than 2k daily members, is it normal for some periods of time for a faucet with such higher user base to run out of funds? Plus, they often share news and updates on their website about the status of the faucet and the withdrawls. Oh yea, and lets not forget to add my attachment below.

" I am not referring to any faucet in particular but lets take a popular one like FIREFAUCET as an example." <--- entire sentence

Here I took the liberty of making sure I bold everything so you wouldn't miss out the entire sentence. And you turned it into an accusation , I didn't and as a matter of fact there is not a single word in my sentence that rhymes with it.

First I bold the words because it was an example, and here I bold the word example again and even underlined it just specially for you.

Spare me the details about firefaucet , just so you know I am using them too and maybe probably way longer then you did. I use them as an example because of their popularity and they were the only multi coins faucet left in my list that I consider worthwhile.

I can't possibly comment on a random multi coin faucet that I have not used. That would't be very fair would it. Besides why don't you point to me any other multicoin faucet that has such high user base that I can use as an example.

Look maybe you are with firefaucet, or maybe your just a great fan of fire faucet , or just another wannabe fan of firefaucet. You could be either one of the 3 but unless you are in the category no 1, you are vouching for something you totally have no idea about besides collecting from them .

Do you even have any idea how they are able to fund their operations or what autoclaim is about ? Or the common or main problems that multicoin faucet owners face. Or why a faucet could go bust in the first place ? Or what a negative overdraft balance means ?

If I wanted to accuse or run a PR war campaign against firefaucet I could easily have done it by going onto other social forum and just copy paste what I wrote and post it.

The post was meant to be educational , to share about how certain faucet owners run their operations. And the current trends of today's faucet. I can't help it if you mind is just always slanting towards negativity.

And just for the record this is the internet, I don't owe you an explanation every time I post something. It could a conspiracy theory I thought of, it could be an accusation it could be anything my mind can think off. Hell !! I could even accuse you of being a terrorist. Asking whats the point of this or that shows your intellect level.

Those who grasp what I am trying to explain please take it with a grain of salt, those who don't well you need to grow up.

 

[PsychoBitch]

Now lets round it all up and find the reason for faucets to dry up. Main reason BOTS, Not all people are honest many people use bots, VPN proxy which makes the faucet owners lose money they earn from Shorteners, Ads sometimes they get banned from these ad networks or shorteners and that's why they don't get sufficient money to pay. This is my opinion as one faucet owner whom I know was SCAMMED in this way though he is still paying.

Sorry missed your post, heh august 27th what a day. I think the reason is more to the fluctuations prices of bitcoins, and over spending by faucet owners, bots will come in 3rd on my list.

Ofir the owner of 99bitcoins closed down his site because of fluctuation prices of the bitcoins from 2017-2018. Bots wasn't his main problem and his sites had minimal redirects and close to 0 anti bot prevention. He applied provisioning as his strategy so his faucet only allows a certain maximum amount of claims per day and anything more your automatically banned. Provisioning is just a simple business strategy and I won't even consider it a anti bot prevention. So you see it also takes some common sense to run a faucet. That was the only anti bot prevention I recognize on his site. And he was earning a lot of money with just a simple site, so imagine how much those faucet owners with massive redirects and ads are earning.

It was a decent site but they did at once point tried implementing a miner within their web page without informing users and that cost him and lost quite alot of popularity and trust among his users. Nevertheless he made right and applied a on/off switch to the page but it was too late, trust is like glass once broke you will never be able to fix it to it's original form.

You can read more about his journey at https://www.coindesk.com/sorry-i-turned-off-my-bitcoin-faucet-because-money
He himself mentioned that in order for a faucet to stay profitable is to "Promote shady offers that accept traffic from less attractive countries and that generate good revenue (mostly because they rob people who use their service from their money)".

Bots are the creation or rather the escalation from dishonest faucet owners themselves. The type of faucet owners who have massive amounts of redirects, popups, ads all over the page or overlapping ads that blocks everything, owners that don't pay up. Escalation in this context would be something like in the real world where cops carry semi automatics and put on Kevlar, so robbers will start carrying rifles with armor piercing rounds. You can actually profile a faucet owner just by seeing how his faucet site is designed, whether he is a sneaky, manipulative, dishonest etc etc.

In fact before I joined this forum I profiled Mr B . Sorry boss heh. But most bots are actually users who purchased the software script online, in fact right after I joined this forum I was offered by someone(don't worry your secret is safe with me) to buy over a bot subscription. Now why was he selling away his bot subscription ?

Not many people actually know how to write a script or rather script a bot, if they do they will probably be doing something more worthwhile. I mean how much can one earn from faucets, and with the today anti bot prevention available I think most faucets owners are well protected if they know what they are doing. It's also obvious that the cost of electricity for leaving your pc on to run the bot script is more then what you can collect from faucets. If they do know a thing or two they would have figured out that they would earn more from creating a faucets themselves.

Just google up "how much does faucet owners earn" and you will see how faucet owners lie about their earnings and manipulate others into thinking that bots are the real issues. For whats worth there are more scam and dishonest faucets owners then there are bot, and if bots was really a problem there won't be so many faucets opening, just click faucets on FaucetHub <--my referral link embedded, and it should tell you exactly what I said.

 

[clickforafrica]

Its kinda like a bank but with negative balance.

heheh, that's exactly like a bank, except that the banks make up their balance from nowhere!

With firefaucet he had a good reason and explained it on a page. He was screwed by some scammy shortlinks. He's paid out since. But your point is valid still, faucets can easily go bust if they get less than they expected from income.

 

[Hackernel]

they can just lower their faucet claims, and i just wondering how cointiply was able to survive for long.

 

[Banglashi]

there are other ways to pay your claimers, faucetfly, faucethub and epay
they'll just give you an .api and there's deep64 faucet cms that does support epay as payment method to claimers.
good read by the way, makes you think a lot if you're into building a great bitcoin faucet.

 

[PsychoBitch]

they can just lower their faucet claims, and i just wondering how cointiply was able to survive for long.

They can't lower their claims because they still owe alot of users money. That is the negative balance I am talking about. Every time bitcoin takes a dip a few faucet go bust or doesn't pay up, because they do not have backup funds.

Cointiply wasn't the current cointiply before this. From what I heard they were something else and went through changes as well as re branding if I am not mistaken. Just typing Cointiply Scam/Review on google will give you a brief idea of what they are.

Their current business model looks more sustainable as is offer a wide range of revenue to whoever is running it. And their multiply game is their new golden goose. I myself have lost about $25+ worth of bitcoins to that machine lol. But the most impressive idea was how they implemented their Cointiply coins. What you are getting paid is not really bitcoins but their Cointiply coins.

Their coins is almost 1:1 to the value bitcoins but it will fluctuate in their favor. 3 months ago if you cash out 100,000 coins from cointiply they will only pay you around 0.00096627 btc which equals to around 97%.. Now currently this is value of their coins. 5226 Coins / $0.5226 / 0.00006263 BTC . Their coins suddenly gained value and increase almost 10% when bitcoin took a dip.

And their coins are not listed on exchanges whatsoever, is just a coin made up by them used to pay user. The value of their coins is determine by them whenever they like. It's like pegging a currency but without proof that they have that amount of funds set aside to pay their user. You will never see the coin in your wallet or proof of the funds being allocated to you until the day you withdraw. To illustrated meaning of pegging I will Tron Network coins and token for illustration purpose.

Say if they were to declare 1 SEED tokens is equivalent to 2 Tron they should provide proof that they have the equivalent value of Tron set aside. So if they disperse or sold 100 SEED tokens, they should have 200 Tron Coins set aside. But that's not the case just like Cointiply nobody really knows how much funds they have. They could be running a negative balance and nobody would know. So much for decentralization and transparency right lol... but thats another story for another time.

That's the current latest trend happening in the crypto world. A lot of con artist are using the word "PEG" as they like. Nothing but just words. Thats how cointiply is surviving. Not many can reach 100k coins in contiply by just doing ads and survey, it will take months if not years. And most of their surveys screen you out when you are halfway and you don't get anything out of it. Their faucets are location based so different countries get different amount of rolls. I get free two rolls everyday, thats about 12 hours per roll for 10 cointiply coins each roll which makes them the lowest paying faucet in the crypto world.

Thats how cointiply is surviving. So the question is why do I still use them Cointiply ? Well because my goal is earn back my 200k satoshi I lost to them . In fact I have stop referring referrals to Cointiply for this reason alone..