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EARNFREEBTC.XCP - Earn BTC with your CounterWallet

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  • kyleatlas

    Sweet, I'm in!

    -KA

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  • belltown

    After you switched to XBTC you made dividends pretty much useless for me:( I can't send or exchange small dividents dust given counterparty transaction fees are about 0.3 mBtc.

    Before you paid in BTC, so dividents just added to my big BTC wallet.

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  • Paws1t1veEV

    This already looks like a pretty sweet deal!

    How do you plan to use the funds to advertise the site and grow earnings?

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  • Cryptonaut

    @paws1t1veev How do you plan to use the funds to advertise the site and grow earnings?

    There are several sites that offer banner and PPC ads for BTC. Also maybe some reddit ads (except they dont take btc for that). Maybe even an ad on LTB :)

    @belltown After you switched to XBTC you made dividends pretty much useless for me:( I can't send or exchange small dividents dust given counterparty transaction fees are about 0.3 mBtc.

    Before you paid in BTC, so dividents just added to my big BTC wallet.

    you can send the dust XBTC values just fine, there are no dust limits with counterparty tokens like there is with straight BTC.

    Chief Architect - Let's Talk Bitcoin!
    Co-Founder - Tokenly
    Owner - IronClad Web Technologies
    BITCOINEX - SPECULATE - EARNFREEBTC - BOOKKEEPER - IRONCLADWEB
    Adbit.co Bitcoin Advertising

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  • belltown

    @cryptonaut

    you can send the dust XBTC values just fine, there are no dust limits with counterparty tokens like there is with straight BTC.

    There is a limit of common sense. Why would I pay 0.1 mBTC transaction fee to send 47 satoshi XBTC? You see, XBTC doesn't work for small dividents. Contrary, I would love if you add 47 satoshi to my big BTC wallet that I can actually use.

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  • Cryptonaut

    @belltown

    @cryptonaut

    you can send the dust XBTC values just fine, there are no dust limits with counterparty tokens like there is with straight BTC.

    There is a limit of common sense. Why would I pay 0.1 mBTC transaction fee to send 47 satoshi XBTC? You see, XBTC doesn't work for small dividents. Contrary, I would love if you add 47 satoshi to my big BTC wallet that I can actually use.

    I know what your saying, but that doesnt really work either. The main reason that I switched to using XBTC is because with counterparty, you actually can't pay BTC dividends that small. When you pay dividends in pure BTC, if any amounts to an address end up being a dust amount (e.g if you only had a couple shares and were supposed to be getting a couple hundred satoshis a week), it actually simply ignores those payments. Kind of dumb IMO that it does that, but I dont make the rules :p So basically its a choice right now of either receiving the small XBTC payments, or simply getting nothing (unless you have a decent percentage of the shares).

    Also, if you have a ton of tiny dust outputs, it actually increases the fees you have to pay by quite a lot due to increased transaction size. For instance, if you just wanted to send 0.0001 BTC to somebody.. all you have is dust outputs from dividends etc.. say you got 0.0000001 every day. It would take 1000 of those dust payments to equal that 0.0001. So when you try and send it, your transaction will consist of 1000 inputs and be huge,and most definitely cost you more than the 0.0001 you are trying to send. This is why on earnfreebitcoins.com, we enforce a minimum user cash-out threshold of 0.000055 (the dust limit), otherwise it costs both the site and the end user way more in fees and hassle in the long run.

    So to sum up, I couldnt even send you btc dust payments as dividends if I wanted to, unless I manually made dividends to each address instead of using the counterparty dividend feature, but even then have fun waiting on confirmations for tx that small.. (and the fees on my end would be bad). Its actually easier to just let your XBTC build up and then trade it in when it makes sense (note that getting lots of "dust" sizes in a user created asset does not increase your fees).

    Does that make sense?

    Chief Architect - Let's Talk Bitcoin!
    Co-Founder - Tokenly
    Owner - IronClad Web Technologies
    BITCOINEX - SPECULATE - EARNFREEBTC - BOOKKEEPER - IRONCLADWEB
    Adbit.co Bitcoin Advertising

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  • belltown

    Thanks Cryptonaut. Yes it makes sense. I can't say I like the XBTC solution, but now I see that at this point it's probably the best solution. It's much better to get XBTC then nothing.

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  • Cryptonaut

    @belltown Thanks Cryptonaut. Yes it makes sense. I can't say I like the XBTC solution, but now I see that at this point it's probably the best solution. It's much better to get XBTC then nothing.

    Thanks. I will update this thread if I come up with a better solution

    Chief Architect - Let's Talk Bitcoin!
    Co-Founder - Tokenly
    Owner - IronClad Web Technologies
    BITCOINEX - SPECULATE - EARNFREEBTC - BOOKKEEPER - IRONCLADWEB
    Adbit.co Bitcoin Advertising

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  • cryptoMatic

    Just curious, would payout from viewing advertisements fluctuate in value with the price of bitcoin? A lot of faucet sites stopped payouts when the price skyrocketed since they probably owed more in payouts than they were bringing in from ads.

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  • Cryptonaut

    @cryptomatic Just curious, would payout from viewing advertisements fluctuate in value with the price of bitcoin? A lot of faucet sites stopped payouts when the price skyrocketed since they probably owed more in payouts than they were bringing in from ads.

    Its based on what advertisers are willing to pay me, rather than based on exchange rate or anything like that. When the price sky rocketed last year, I definitely saw a big decrease in how much people were willing to pay per visitor. Hasnt really correlated with general price fluctuations though.

    I dont think there has been a single time where we have stopped or run out of payments :P

    Chief Architect - Let's Talk Bitcoin!
    Co-Founder - Tokenly
    Owner - IronClad Web Technologies
    BITCOINEX - SPECULATE - EARNFREEBTC - BOOKKEEPER - IRONCLADWEB
    Adbit.co Bitcoin Advertising

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