Faucet Math
As a few of you might know from reading previous posts on my feed, I really like to use faucets to earn cryptocurrency. For me, it is an easy and mostly free way for me to gain entry into the cryptocurrency world. It really only cost me the price of my time and the electricity to charge me phone. I was really curious though, is it actually worth my time. So I pulled up the good ole Excel and did some math.
I set some constant values, I understand that some faucets pay more than others or offer bonuses for daily visits but I just wanted to set a constant. For the most part from what I experienced, faucets pay out about 1 Dogecoin per hour, give or take, which today in Bitcoin value is about .00000013 Bitcoin which is has the value of about $0.002. I also assumed that I would only make about 8 claims per faucet per day because, what else would I use my time for at work? With those constants I made the following calculations.
Claiming One Faucet
- Claiming for 1 Day
- .00000104 Bitcoin = $0.018
- Claiming for 1 Week
- .00000728 Bitcoin = $0.124
- Claiming for 1 Month
- .00003210 Bitcoin = $0.53
- Claiming for 1 Year
- .00037960 Bitcoin = $6.453
Using one faucet, it would take about 961538 days to acquire 1 Bitcoin at current market values. To put that in perspective, it would take just over 2600 years to get there.
Now, I use multiple faucets claiming different currencies but I they all pay out about the same market value and it got me thinking as to how many faucets would a person need to claim from to earn 1 Bitcoin in s reasonable amount of time, lets say 2 years, which would compare favorably to an Bitmain Antminer S9. A person would have to claim from 37 faucets 8 times a day to get this done. See math below.
Multi-Faucet Claiming
- Claiming for 1 Day
- .00142376 Bitcoin = $24.20
- Claiming for 1 Week
- .00996632 Bitcoin = $169.43
- Claiming for 1 Month
- .04271280 Bitcoin = $726.12
- Claiming for 1 Year
- .51967240 Bitcoin = $8834.43
This would get us to our goal of 1 Bitcoin in just under 2 years. Saying all of this, it is going to be hard to find 37 faucets that pay consistently and it is going to take a ton of time to accomplish the claims on all these faucets. We would also have to consider that we would have to exchange other currencies into Bitcoin so we would have fees to deal with. It is an interesting project for someone if they have the time to invest into collecting these.
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I never calculated my faucet earnings but in satoshi I get about 700 a week. Now with your calculation it means I am basically getting ~$6.4 a year. It may not be much but know that this is bitcoin here. You did not have to confirm your identify or go to a bank to exchange. It is directly a crypto that can be used on trade exchanges or purchases of goods and services. This will add up if bitcoin continues to grow, which I personally feel it will.
As you well know that the price the faucet rewards can vary greatly from faucet to faucet and over time. I mean, just 2 months ago when I started collecting on the faucets that Coin Pot uses, I was getting closer to 20 satoshi per claim. Now those claims are twice as valuable than they were at the time. Using the value from 2 months ago, a person would only have had to claim from 25 faucets per day and not 27 to reach the one Bitcoin in 2 years goal. It might be good to point out, that while these claims are small not, we can treat them like investments that if we feel that they are going to grow over time that we could see significant value in these small claims.
So after beating around the bush, for anyone out there. If the believe there is value in a coin and it is under valued. find their faucets and start getting the free stuff. Claiming Bitcoin is going to be hard to build value, but claiming Dogecoin or one of the other super cheap coins could offer a path actually make some money if those coins see massive growth.
It is true we now earn less bitcoin on each faucet claim, but the coin price has risen a lot even just two months ago. I say stay the course and claim those most popular ones as prices will continue to rise. For Doge and Litecoin I will continue to claim because just like you mention they can also rise. Litecoin is a very good example. What I collected the past 3 months are now worth three times as much since last week. Not much but still better than nothing. Keep on claiming!