Is it too late to use Crypto Faucets? Month 3 analysis - Getting deeper in the numberssteemCreated with Sketch.

in finance •  8 months ago

Can you still make money claiming from crytpo faucets? This experiment will try to answer that question, here is my third month of data analysis for my crypto faucet experiment. I started this because of typical FOMO,(if only I had started this, 6 months ago, a year ago it could be worth X). This is not your typical faucet post with "check out this faucet" (affiliate link). While these are my affiliate links, you will also see my transparency in reporting.

TL/DR: Lifetime Value: $19.56 (Up $1.05)--- Over 1,641 claims for a total of $7.65. ---91% of earnings are from my actions, 8% are from referral claims.

January Breakdown

Personal ActionsValueReferralsValue
Faucet claims: 1,641$6.76Referrals claims: 160+$0.64
Daily Bonus: 17$0.15
Offers Completed: 1$0.01
CoinPot Mining$0

Its been a bump ride, some days and weeks are great for claiming, while others I hardly have time to get in 1 or 2 a day to keep my loyalty bonus climbing. Not to mention when all Coinpot faucets went dark for a week. Here is what my weekly claim activity looks like.

Here is a quick breakdown by coins and value for the month.

CoinAmt ClaimedValue
BTC.00032885$4.56
BCH.00012189$0.29
Dash.00067383$0.68
Doge67.63$0.60
LTC.00281541$0.63

There are 9 faucets I am using for this experiment, I only plan on adding more if CoinPot does. Honestly at this point it is hard to keep up with them all to maximize returns. Plus I start traveling for work, and I doubt airports and plane rides are conductive to reCaptcha.

MoonBitCoin
MoonDash
MoonLiteCoin
MoonDogeCoin
Bonus Bit Coin
BitFun
Freebitco.in
Satoshihero
PrimeDice

Lifetime Claim Data

CurrencyFaucet ClaimsTotal Currency
BTCBonus Bitcoin Faucet Claim.00035512
BTCBonus Bitcoin Daily Bonus.00004393
BTCFreeBitco.in.00008998
BTCBitFun Faucet.00022290
BTCMoonBitCoin Faucet.00024360
LTCMoonLitecoin Faucet.01228241
DashMoon Dash.00174304
DogeMoon Dogecoin452.56
BCHMoon BCH.000012189
Offers
BTCMoonBitCoin.00007660
BTCBonus Bitcoin.00000080
BTCBitFun.00001190
Referrals
BTCFreeBitco.in Referral.00002099
BTCBitFun.00001442
BTCMoon Bitcoin.00001526
Mining
BCHCoinPot Mining.00002656
LTCCoinPot Mining.00005574
DASHCoinPot Mning.00019045

Mistakes

Well again, I had to learn the hard way that gambling is gambling. I was running HOT with Primedice until I was not. Since then, I havn't put in the time to try to rebuild, eventually I will get back to it.

Is it too late? Removing price volitility.

The graph below tries to remove the price volatility from my faucet claims results by using a static prices based on the price of the first day I started to claim from that faucet.

Upcoming

I am going to move this to a weekly update in an attempt to keep the data updated more frequently. Coinpot has had some issues with my data, and honestly going back that far and cleansing is bit much. I hope it will be easier to keep updated more frequently.

Please ask me some questions!

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The most effective to use faucets is when the crypto is in lower prices. I gave up earning money from the faucets, they're giving too low profits.

Beware of scams on faucets, they're always appears on faucets. Sometimes, on Coinmarketcap. They're changes every period, whatever they changes their identity or the different scammers changes the old scammers.

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Low price is relative, 7k is low when comparing against 20k, or 30k. I am goin do my first withdrawal to coinbase this week. Should be interesting, hopefully it all works, either way it will be in my post.

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Great article @senstless!

Back in the day I completely automated faucet solving, but the rewards were very low: the cost to keep computer on is higher than the reward in btc.

I used to get 0.0001 btc weekly automatically using a script I made. Yes, it solved the puzzle 24/7. The problem was that the electricity costs were higher. I had tried to solve that with proxies, but they were mostly unstable and blocked.

Now I could run this script on a low energy computer, but earning on steemit is faster.

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I always wondered if someone found a way to code past the recaptcha! I can confirm all vpns are blocked, I frequently forget to turn mine off before trying a claim and get blocked.

My only real cost is time, my Facebook and Reddit usage are down near 0 between this project and steemit.

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Yes, I did. The captcha wasn't really that difficult to solve, because they always would show the same images over and over again.

The problem was none of the proxies really worked, so I was stuck at getting a few btc automatically. I'd simply run the code 24/7 and receive weekly.

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