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When someone offers you free money with no strings attached, your first inclination should probably be to run the other way as fast as possible. Even that helpful Nigerian prince who has been flooding your inbox with promises of unimaginable wealth is only offering to give you a piece of his sizable inheritance in exchange for your bank account info and Social Security number.
Give free coins to anyone who wants them. The dozens of faucets, which specialize in a variety of cryptocurrencies, all work along similar lines. In the early days of the currency, some faucets were known to give out up to 50 dogecoins at a time. But now most only hand out one or two. A list of Dogecoin faucets can be found here.
Pretty much every faucet site sets a time limit on withdrawals, meaning users can only extract money from a faucet once per day or, at least, once every few hours. Making new wallets is completely free, and they can be generated in the blink of an eye. Hugo Vacher, who runs a Dogecoin faucet called appropriately enough Dogefaucet.
Reddit has its own Dogecoin faucet subreddit , where users create posts asking for donations. Seeing as Dogecoin has no real purpose other than tipping people at this point, we might as well give people some so they can show their appreciation to well thought out comments.
At the end of my experiment, I ended up with just over 17 dogecoins—a massive haul valued at approximately two cents. I probably would have made more money walking around my neighborhood with my head down and looking for pennies people accidentally dropped on the ground. But it was a quick and easy way to get my hands on some dogecoins. On the Bitcoin side of things, there are faucets too, but many of them seem more interested in getting human beings to perform menial tasks in exchange for a payout of a small number of bitcoins—or, at least, staring a page filled with ads.
One site, called BitcoinGet , doles out small portions of bitcoins to visitors who do things like watch videos and conduct Google searches for specific topics. Virtually all Bitcoin faucet sites require users to hold their coins in an external account, which will only pays out if it contains a large enough amount of Bitcoin. This is a cost-cutting measure. People conducting Bitcoin transactions typically affix small processing fees onto their transactions to encourage miners to process their transactions in a timely manner.
Bundling the fractional bitcoins that drip from faucet sites prevents them from losing money on each transaction, or having their requests ignored completely. As Mac Observer notes , the smallest transaction likely to be confirmed through the Bitcoin network is 0.
While the general format of the faucets are more or less the same, there appears to be something a bit more mercenary about the Bitcoin sites than the Dogecoin ones. Many of the Dogecoin faucets have shut down in want of donations, whereas nearly all of the Bitcoin faucets I visited boasted they were flush with cash—only a couple declined my request due to insufficient funds.
The reason for this disparity is that the Dogecoin sites tend to operate based on donations from individuals and organizations interested in increasing Dogecoin adoption, whereas most Bitcoin faucets are seemingly run as moneymaking enterprises. Vacher said that Dogefaucet has had trouble keeping its coffers full in recent weeks. However… we have seen an increase in donations as the currency has grown. I credit our success in staying afloat to the generosity of Redditors.
Now that I have my 17 dogecoins and zero bitcoins, the question remains: What should I do with them? Considering this is a virtual currency whose community prides itself on its abundant generosity, the answer was actually pretty obvious. I donated everything right back to Dogefaucet. Aaron Sankin is a former Senior Staff Writer at the Daily Dot who covered the intersection of politics, technology, golden retrievers who know how to dunk, organizations adapting to our increasingly connected world, online privacy, the role of dank memes in popular culture, Twitter bots, and that same golden retriever who as it turns out is also pretty good at lacrosse.
He lives in Seattle, Washington and became a reporter at the Center for Investigative Reporting in Dogecoin faucets prove there is such thing as free money. Dogecoin faucets prove there is such thing as free money Aaron Sankin —.
Every trip to the moon begins with a single drop of rocket fuel. Illustration by Jason Reed. Aaron Sankin Aaron Sankin is a former Senior Staff Writer at the Daily Dot who covered the intersection of politics, technology, golden retrievers who know how to dunk, organizations adapting to our increasingly connected world, online privacy, the role of dank memes in popular culture, Twitter bots, and that same golden retriever who as it turns out is also pretty good at lacrosse.
Bitcoin Dogecoin Faucet Reddit. Up next after the break: In Miami, you can buy a boob job with bitcoins Welcome to the future.
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