DEVTOME.COM HOSTING COSTS HAVE BEGUN TO EXCEED 115$ MONTHLY. THE ADMINISTRATION IS NO LONGER ABLE TO HANDLE THE COST WITHOUT ASSISTANCE DUE TO THE RISING COST. THIS HAS BEEN OCCURRING FOR ALMOST A YEAR, BUT WE HAVE BEEN HANDLING IT FROM OUR OWN POCKETS. HOWEVER, WITH LITERALLY NO DONATIONS FOR THE PAST 2+ YEARS IT HAS DEPLETED THE BUDGET IN SHORT ORDER WITH THE INCREASE IN ACTIVITY ON THE SITE IN THE PAST 6 MONTHS. OUR CPU USAGE HAS BECOME TOO HIGH TO REMAIN ON A REASONABLE COSTING PLAN THAT WE COULD MAINTAIN. IF YOU WOULD LIKE TO SUPPORT THE DEVTOME PROJECT AND KEEP THE SITE UP/ALIVE PLEASE DONATE (EVEN IF ITS A SATOSHI) TO OUR DEVCOIN 1M4PCuMXvpWX6LHPkBEf3LJ2z1boZv4EQa OR OUR BTC WALLET 16eqEcqfw4zHUh2znvMcmRzGVwCn7CJLxR TO ALLOW US TO AFFORD THE HOSTING.

THE DEVCOIN AND DEVTOME PROJECTS ARE BOTH VERY IMPORTANT TO THE COMMUNITY. PLEASE CONTRIBUTE TO ITS FURTHER SUCCESS FOR ANOTHER 5 OR MORE YEARS!

Micro Savings Accumulation and Investment

To add to the general theme of my last article Earning Giftcards With mPoints Apps, I would like to illustrate how I use Faucets to create what I like to call “Micro Savings”. Essentially I use faucets for various different types of digital currencies to accumulate as many satoshis as possible. Except I do my best not to spend them recklessly by either keeping the associated wallets closed down or funneling the coins in to investments when possible for further growth.

I won’t detail all of the faucets I use, as I don’t necessarily trust that they all work as advertised or have faith that they will stick around for very long. In my experience over the years with faucets I have come across only a couple that have been reliable, honest, and worth my spare time.

Again, like I said in the mPoints article this activity of faucet redemption should not be considered a high value task in the least. Though it may be fun and feel a little bit more real than other tasks us entrepreneurs have to complete, it doesn’t pay any where near well enough to spend any time using them that isn’t allocated for breaks or leisure.

In addition many people look at me with puzzled faces when I explain to them that I use faucets to accumulate micro payments in Bitcoin and other digital currencies. Generally people like to say that it’s not worth my time. To that argument I normally respond by explaining that had I known about faucets only a few short years ago, I could have been accumulating 5 Bitcoin per submission when using the Bitcoin faucet created by Gavin Andreason. At the current market price of $656.07 that one submission would have been worth $3,280.35. I personally don’t intend on missing out on an opportunity like that again, and I hope that if you’re reading this you would agree that it’s worth spending a couple spare minutes a day for that “just-in-case” feeling we all have.

Bitcoin Faucets

Today a good Bitcoin faucet is hard to come by. Often times the faucets will pay out less than 100 satoshis (0.00000100) and have limits to regulate how many times visitors are allowed to submit for more coins during a given timeframe.

Freebitco.in

That being said, my favorite Bitcoin faucet by far at the moment can be found at freebitco.in. It’s very simple to use, requires only a Bitcoin address, password, and valid email address. Once you enter the necessary information you don’t even need to confirm your email, you can begin accumulating Bitcoin immediately. It’s important that you have a strategy behind the wallet address you choose however, as you may not be able to actually use the Bitcoin if you don’t accumulate enough to pay the network transaction fee once you have been paid.

For example, in order to fight transaction spam and help secure the network against DDOS attacks many wallet client and miner applications have started including a tiny transaction fee known as “dust transactions”. These fees are associated with Bitcoin transactions on any amount below 0.01 Bitcoin. Meaning, you probably can’t economically spend the Bitcoin you accumulate from faucets unless you properly plan how you will be receiving and combining these transactions over time. I will illustrate how I personally avoid this dilemma below, but for those who are receiving micro transactions to their Bitcoin clients you might find this repository titled dust-be-gone by Peter Todd.

More on how to handle your addresses and micro transactions later, for now back to freebitco.in. The Freebitco.in faucet allows for one submission per hour and the reward associated with your submission is based on a virtual dice roll. In most cases my rolls will average approximately 300 satoshis or 0.00000300 Bitcoin. The faucet requires that you accumulate a balance of 0.00005400 Bitcoin before your withdrawal can occur. However this is not at all hard to accumulate and at an average of 300 satoshis per roll, 5400 satoshis can be accumulated in approximately 18 dice rolls. In some cases the dice will roll in your favor, and if the roll results in a high enough dice value you can be awarded up to several hundred dollars worth of Bitcoin!

Currently the different Dice Roll Values reward the following:

Lucky Number Payout
0 - 9885 0.00000304
9886 - 9985 0.00003044
9986 - 9993 0.00030435
9994 - 9997 0.00304354
9998 - 9999 0.03043538
10000 0.30435378

Though I’ve only been awarded higher than the minimum payout a couple of times when using freebitco.in, I have had it happen and if I can remember correctly the most I have ever received for one roll was from rolling in the 9986 - 9993 value range.

The freebitco.in faucet allows for an affiliate program and has an awesome referral sharing page where you can give back to those who have clicked your link and helped you to earn Bitcoin in the past. I think this is a fantastic feature and once a week before payouts I make a point of it to share a percentage with the couple of referrals that have signed up from my links.

On sundays payments are sent out, and I must say I am highly impressed by the professionalism of this faucet. I have never had a missing payment, and once lost my password but had no problem recovering it with my email. No problems or complaints whatsoever with this faucet and I highly recommend it to anyone who would like to join me in accumulating micro savings.

Bitchest.me

The second and final Bitcoin faucet I would recommend (honestly I don’t think many others are worth your time) is [www.bitchest.me| Bitchest.me]. This is not in itself a faucet, but more so a faucet aggregate which provides and incredibly useful earnings dashboard where you can keep track of the timers for each faucet, payment sizes, total accumulated, and many other useful data metrics.

The faucets that are associated with Bitchest.me that can be tracked on the Bitchest.me Dashboard are as follows:

These faucets all look relatively similar, and include the same Bitcoin address text box and a captcha to complete before clicking the submit button. Once you have submitted the request the page should reload and generate an extra text box above the Bitcoin address area where it will link to your bitchest.me dashboard. Remember to keep your Bitcoin address handy so that you can easily submit to the faucets whenever the timers run out and you find yourself needing a mental break from work. You can also view your bitchest.me dashboard any time by simply going to bitchest.me and entering the Bitcoin address you have used.

Many of the faucets listed above have much shorter wait times than freebitco.in but offer far less in terms of micro payments. Luckily there are quite a few with timers that run out within about 30 minutes so there should always be somewhere to submit when you decide you have some time to kill.

Bitchest.me also offers a referral service that is a little bit more difficult to understand than freebitco.in and I have not been able to find a way to give back to those I have referred which is unfortunate. However payments from bitchest.me have always come in as expected and I have no complaints with the bitchest.me service at all.

Dogecoin Faucets

Dogecoin faucets function almost identically to Bitcoin faucets but they do provide one significant advantage over that of the Bitcoin Faucets, no wallet address issues. At the current value, when submitting to Dogecoin faucets it’s unlikely that you will receive a payment so small that you would have to accumulate a balance. This makes it far easier to see your coins in your possession sooner which is why I enjoy using them. Additionally when using Dogecoin users can take advantage of fantastic tipping services, most notably the DOGE tipbot on reddit.

Freedoge.co.in

I’m happy to announce that freedoge.co.in is now up and running and was built by the same people who started freebitco.in. As you can imagine the DOGE faucet functions and looks exactly the same way the Bitcoin faucet does in this case so it’s not hard at all to get started. The features of the website are also identical and I’m happy to add that I can also give back to my referrals using this faucet service while adding to my overall earnings potential through the faucet.

Again, users need only provide a DOGE wallet address, password, and email for sign up. Once you have registered roll the virtual dice once again and you get your reward. At the time of this writing, it only takes one roll to accumulate enough DOGE to cash out (as it should be considering DOGE trades at an average of 52 satoshis) and you can do just that if you please upon your first role.

I have also found that the faucet builders have made the Dogecoin faucet more likely to roll higher dice values, leading to a higher payout. The payouts associated with dice values for freedoge.co.in are as follows:

Lucky Number Payout
0 - 9885 5.51
9886 - 9985 55.12
9986 - 9993 551.16
9994 - 9997 5,511.62
9998 - 9999 55,116.16
10000 551,161.57

So far I have only used the faucet for a couple of days and have already on two separate occasions rolled high enough to receive 55.12 DOGE rather than the minimum of 5.51. That being said, I think it’s possible to earn a meaningful amount through a lucky roll as the odds are increasingly in your favor the more you roll.

This faucet pays out every 24 hours rather than once per week like the Bitcoin faucet does. Meaning there is no trouble getting a daily DOGE payout if you so choose. Again no complaints whatsoever for this faucet service, despite my limited interactions with the faucet I am confident the developers behind the service will maintain a standard of excellence that mirrors that of freebitco.in

Such WOW! by bitcoinproject

The second and final Dogecoin faucet I would recommend (again I haven’t been able to find any other I felt was worth my time) is the Dogecoin Faucet by bitcoinproject.net. You can submit once per hour and the faucet pays out a random number, usually between 1-2 DOGE. This faucet does pay out less, doesn’t provide a referral service, and gets a little glitchy from time to time. However it is a very professional faucet and I have never had any problems with receiving payment.

This faucet is also extremely simple to use. Simply provide your DOGE wallet address, complete the captcha provided, and you receive payment as soon as the round is filled. Each round is composed of 25 submissions, and with the popularity surrounding Dogecoin it doesn’t take long at all to receive your payment. In addition to fast round completions the Dogecoin network boasts much faster transaction times than that of the Bitcoin network, so you should see your coins in your wallet in no time.

I would like to point out that though there is a submission box for a promo code, I have yet to find a promo code that results in a payout higher than that of the average. You can do a quick google search for yourself and give it a shot, though I don’t think it will make much difference.

Devcoin Faucet

As a Devtome Writer and Devcoin Enthusiast I had to add this one in. Though it may not always seem like good value to submit to this faucet, I have found ways to use take full advantage of the payouts it offers and would highly encourage others to accumulate, spend, and donate Devcoin.

The Devcoin faucet can be found at faucet.d.evco.in and is very simple to use. Again like the Dogecoin faucet this faucet pays out in amounts that are much easier to move around. You can use any Devcoin wallet address available from clients or exchanges, though I would recommend using the Devcoin wallet client which can be found here. I say this because most if not all of the exchanges that currently trade Devcoin have some pretty ridiculous withdrawal fess which will negate most of your submission work when trying to withdraw.

As with the other faucets, paste in your devcoin wallet, solve the moving puzzle to relieve the image of distortion (much quicker than captcha in my opinion) and your wallet address is submitted to be paid at the end of the round. The Devcoin faucet functions similarly to the second Dogecoin faucet listed above as it also uses a round submission based payout scheme. There is no time limit to how often you can submit your wallet address to the faucet though you do have to wait for 80 people to submit for the round to be filled and subsequently payments sent. Luckily I have never had to wait for the round to fill so I could submit again, and I think this faucet has a very good turnover from what I have seen.

The Devcoin faucet does not allow for a referral service, though thankfully it does have a way to earn a bit more Devcoin per submission. All you need to do is input a bitcointalk.org user ID in under the wallet address submission box and follow these instructions:

 NEW! I have added a feature requested from Unthinkingbit, that anyone has a bitcointalk.org forum id could get more devcoins. the details:
1.Your forum account is not Newbie (at least Jr. Member)
2. You promote devtome.com by adding the following line to your signature:

Code:
[url=http://www.devtome.com/doku.php?id=earn_devcoins_by_writing]Earn Devcoins by Writing[/url]

3. You add the same Devcoin address to your signature too, no matter what format, we just make sure the account is really yours.
4. Fill your member id into the textbox along with your devcoin address at http://faucet.d.evco.in/ and submit. 

By following the instructions above the first submission will be for 50 DVC, after a week if you keep the Devtome promotion signature on your bitcointalk.org ID you receive another 100 DVC, sweet!

Planning Your Bitcoin Wallet Addressees

As a quick note I wanted to illustrate how I go about dealing with the bitcoin micro transactions so that I don’t waste effort paying for transaction fees. There are a few options to choose from, really it depends on what you intend on doing with your newly acquired coins.

What I like to use for my “micro savings” to accumulate at the moment is the MultiBit Client. MultiBit is a lightweight Bitcoin Wallet Client that is very easy to use. You can generate as many addresses as you need and it’s very easy to secure the wallet with a password and export your private keys. I allow for the Bitcoin payments to accumulate in my wallet and in the event that I would like to use the Bitcoin or move them I simply open up my blockchain.info account and use the function to import private keys. This way, I can add the micro balances to any other Bitcoin balance I might hold with block chain.info and not worry about wasting any on transaction fees when trying to move the payments out of MultiBit.

This method has worked really well for me in the past, but most likely because I don’t intend on spending the Bitcoin anytime soon so I haven’t had to deal with transaction fees from sending BTC to businesses or exchanges.

You could also use one of the wallets generated from Coinbase. Coinbase does a great job of consolidating balances and any time I have had micro payments sent to any one of the addresses there it immediately gets added to my overall balance and I don’t have to worry about anything.

Lastly, considering this is intended to be “micro savings” I would suggest to use MultiBit and then simply forget about your micro payments over the long-term so that they can build in value. Perhaps one day the seemingly meaningless micro payments of today could mean a couple hundred dollars tomorrow.

If you would rather store your Bitcoin online (less secure) you can also try one of the free wallets over at [www.blockchain.info| Blockchain.info]. I do trust in Blockchain.info however I don’t refute the potential for human error and would strongly suggest that anyone interested in storing Bitcoin do so securely on their own native machine with a strong encryption password.

Micro Savings Projection and Investment

Finally I wanted to illustrate a few ways to put those micro transactions to work. These are a few of the ways I have been able to take advantage of the payments over the long term, and have them work for me.

Digital Mining Contracts

Though often times prices are too high to feel good about investing in Digital Mining contracts, it isn’t hard to put your micro payments to work with these services. Using the wallet addresses associate with your Digital Mining Service accounts you can receive the payments directly to the Mining website and put it to work instantly with a fractional share of a digital mining contract. At the moment the only two Digital Mining Services I trust and use personally are Eobot and Cex.io

The Digital Mining Service Eobot can be used to have your Bitcoin and Dogecoin payments work for you, taking advantage of digital mining contracts for either SHA-256 or Scrypt mining hardware. Though be careful, last time I tried this I needed to put the exact number of coin I was depositing with DOGE, which to me looks like they have one main wallet that is taking in all deposits and then dispersing them based on the match between the amount you said you were depositing and the amounts that came in around that time period.

With Cex.io you can potentially have all of your earning from every faucet listed above deposited and stored, though at the moment you can only trade BTC and NMC for Mining contracts, and DOGE as well as DVC deposits at the moment can’t be traded for anything only stored.

Both offer advantages and disadvantages to their services. For example I enjoy using Eobot because I can mine a variety of digital currencies. However with Cex I can buy and sell the digital mining contracts, meaning I can liquidate all mining contract shares back in to Bitcoin if I so choose. With Eobot, it doesn’t seem that at the moment this is possible, though they have been making major upgrades as of late and I can imagine they are looking heavily in to doing just that.

Aside from Digital Mining I have been slowly accumulating a very small investment with both Doge-Dice and Just-Dice. Both gambling sites created by the same developer, I have watched them stick around for sometime now and there isn’t any shady activity as far as I can see. However please take note, I do not use these sites for gambling purposes, it’s very easy to lose your hard earned micro payments this way. Instead set up your account to automatically invest any deposits and they’ll go directly in to the investment ledger of the site. This way you can earn interest on your deposit as the sites distribute profits from the 1% house edge.

Lastly with DVC I have been accumulating the payments and investing them in some of the securities listed on Cryptostocks.com. Take a look at the Securities Section of Cryptostocks and you’ll notice there is a small selection of securities denominated in DVC. The best of the securities I have seen thus far is the security under the ticker “VIRTUAL”. They have consistently paid out dividends on the 5th of each month and each share trades for just over 5 DVC on average.

End Note

I will be drafting up a couple of investment projections tomorrow and posting it as a sequel to this article, but as a conservative estimate of earnings potentials I wanted to go ahead and do some quick calculations to see what these faucets could potentially earn.

Lets say that over a 7 Day period the user submits a request on each of the faucets listed above 4 times a day. Over the course of a year, on average, those submissions would result in the following:

freebitco.in (4 submissions * 7 Days * 0.00000300 BTC) = 0.00008400

Bitchest.me (4 submissions * 7 Days * 0.00000982 BTC average) = 0.00027496

freedoge.co.in (4 submissions * 7 Days * 5.15 DOGE) = 144.2 DOGE

wow.bitcoinproject.org (4 submissions * 7 Days * 1.136 DOGE) = 31.808 DOGE

faucet.d.evco.in (4 submissions * 7 Days * 5 DVC) = 140 DVC

Based on the exchange rates as of this article posting: DOGE/BTC = 0.00000055 DVC/BTC = 0.00000014 BTC/USD = $653.21

Totals would reflect: DVC Total = 140 * 0.00000014 = 0.00002240 DOGE Total = 176.008 * 0.00000055 = 0.0000968 BTC Total = 0.00035896 Overall Total = 0.00047816 BTC or $0.31

Not very much at all, but for only a couple minutes of break time, not considering the potential for increase in value in any one of the coins mentioned above, over a years times you would have $16.24 dollars of free money. Not too shabby!


Business - Investing


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