Bitcoin Blog a1

Thursday, August 20, 2015

Faucets, Boxes, and More

Faucets have some interesting issues. The concept of a faucet is you get a free very small amount of bitcoin or other cryptocurrency. In exchange, you visit this website, and the owners of the website get ad revenue from your traffic. A few other sources of faucets might be for promotional reasons, for exchange TRI has a faucet with no ads (which might be down). The purpose of this faucet is to increase the value and the interesting in TRI ( whether this works is an very different issue).

One issue with Faucets is frequent use will result in a lot of small transactions to your wallet. Ultimately, when you choose to spent this money, because of its many inputs, the transaction fees related to that transaction will be quite large ( as I talk about in this post).

Faucetbox is a interesting site that provides a solution to this problem. Faucets that choose so, can send money to faucetbox instead. The payment are gathered from whatever faucets the user uses. Amount of bitcoin is past a user set threshold, payment is made to the related bitcoin address.

I now use a few sites that utilize this:

In other news
User, Sakura Kaminari, has created an online petition for steam to start accepting dogecoin as a form of payment. Steam is an excellent way of buying games, and often times offers the games at great prices. You can find and sign the petition here.