There are many different faucets out there for Bitcoins and other crypto currencies, offering people free coins for doing relatively nothing (just putting in their address and solving a quick captcha). They do not give many coins out, but they can add up over time, especially if doing many of these a day. Some have cool downs of 30 minutes, some an hour or so, and others a day. Along with this, some of them have different values of coins that can be won, chosen randomly.

Some will find these services to be worth using, while others will find them as a waste of time. As an example of the mathematics behind it, say you are doing 10 of these every hour. They take 10 seconds each, so about a minute and a half to two minutes of your time.

The amount you will usually earn is around 0.000001 BTC, which means that it takes 1,000 faucets to give a mBTC (equal to, as of the time of this writing, roughly $0.11 USD). At 10 faucets an hour, this means it takes 100 hours (4 days) of ensuring to hit them every time on their cool downs to earn 11 cents.

It is entirely possible that the value will rise, but by how much? And is it really worth 100 hours for a total of 11 cents? You can easily go down a street and find a lot more than that, and then just buy the BTC's directly. Or work at a job (assuming minimum wage is about $7.45 USD, you would be looking at $745 or around 6 BTC for the same amount of time it took you to earn the $0.11 through faucets).

This is not to say that they are not worth going for. This is going to depend entirely on you and the thoughts behind it. Some just do faucets when they have a little free time with nothing to do. Others do it to pass off small amounts to others. Others just skip over them altogether. Through some of the faucets, they tell how many people have signed up daily. Many of them show numbers in the thousands, so there is definitely a value to them for some people.

The real reasons the faucets are around, though, is not for people who have already decided to adopt the currencies. It is more for those who are brand new to them and want to learn how everything works. By giving people a small piece of the pie, it helps pique their interest, hopefully converting them into adopters. A great way to look at it is that the faucets are offering people a trial of the system to determine whether or not they like how it works. It does not take a large amount to allow a full view of the benefits of the coins, either. Even a small amount can help shed light on things like transaction times, fees for sending, understanding how the wallets work, etc. So even if you are one of the many people that feels faucets are worthless, they do have their uses.

Faucets could become more useful for those that have already adopted the coins, but that would require them to give out more than just fractions of a penny. With how many people there are in the world, and how little would be earned by advertising (due to people going to the sites just to get the coins, rather than reading content and finding advertisements that are related to their interests), this is unlikely to happen. As it stands now it is still a great learning tool though!

If you want to help out others, most faucets have donation addresses somewhere on them (usually they will be in the footer) so you can toss some of your coins over. This is how they get a majority of their coins to give away, so it really does help, even if you are just giving a small amount!


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