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RE: HashOn: Steem powered bitcoin faucet now driving daily traffic to steemit.com!

in #news • 8 years ago

Interesting. But what is a faucet? What does this do? If you don't want bother explaining, it's ok ;)

8 years ago in #news by
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     8 years ago  

    Bitcoin faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website.

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       8 years ago  

      Alright, yeah I kinda figured that, but the something to been done, I guess is what I was after. For this site, what do you do? Just put your name in, and the ads revenue pays for the faucet?

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         8 years ago  

        The site takes bitcoin addresses and ePay unser names and credits them with bitcoin. Yes it appears ad revenue pay for the faucet. Also some investment in steem with interest paying the faucet too. Maybe virtashare will get a chance to respond too. Just thought I would explain some.

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           8 years ago  

          Hi, the ad revenue earns bitcoin, I will then exchange this for STEEM or SBD and transfer it to my steemit savings account. Then use the faucet revenue to grow the investment. When the interest pays out on the STEEM/SBD savings account I will exchange this for bitcoin to top up the faucet.

          Thanks for the comments much appreciated!

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