Running Faucets

@porwest (78761)
United States
December 1, 2022 7:07pm CST
Would this be considered clickbait or a misleading title of sorts? No, no, no. Not the sink faucet. I have been very clear that I am weary of the viability of cryptocurrency. At the same time, it still exists, and there are a lot of people who still believe it still has at least some value. Cathie Woods, who is a crypto "go-to" seems to think Bitcoin might still be worth $1 million by 2030. Who knows? That's my stance. And that is why while I continue to be a naysayer, I also continue to be involved. I am just not really investing anymore. I am running faucets. That is, sites that offer free cryptocurrency just for hitting a "roll" button every hour and getting a little here and little there. I am out nothing but a few seconds to hit the "button." Bitcoin, Shiba Inu, Polygon, Ethereum, USDCoin, among others, I hit the button each hour and on some things, like my Bitcoin, I earn interest and get even more free crypto. It may not be "valuable," but it still has "value," and I can still convert what I want to fiat if I so choose. So far I have not converted a dime to cash. But I may. Sometime in the future. Maybe. Depending on what it does and where it goes. My thought process is simple. I have no idea what the future of crypto is. But I do know that Bitcoin is right now sitting at about $17,000 per coin and at its peak was at $65,000 per coin. While I think the writing may be on the wall, I don't know that it is on the wall, and running these faucets costs me nothing. Either what I am doing with these today will have great value tomorrow or it won't. But because I am out nothing, I figure...why not just do it? Money is money no matter what it looks like or what we call it, and if I can turn crypto into real money (and I can), I am going to take whatever I can from the till and just see what happens while I pursue my real money.
7 people like this
4 responses
@FourWalls (62120)
• United States
2 Dec 22
This recent collapse has always been my “knock” on crypto: it has nothing to back it other than “it’s worth this because somebody says so.” Not with my money you don’t!
2 people like this
@porwest (78761)
• United States
2 Dec 22
That is a good and sound alaysis and I agree with you. At least with pretty much every other investment vehicle there is, there is something real behind it and a way to determine what the value is based on that. Not so with crypto.
1 person likes this
@Nakitakona (56302)
• Philippines
6 Jan 23
There's one I joined before but the payment or the coins are too minimal.
1 person likes this
@porwest (78761)
• United States
7 Jan 23
Pennies add up over time and one I am using now has accumulated over 1 million satoshi of Bitcoin. Not life changing, but I will take it. It's about $170.
1 person likes this
@Nakitakona (56302)
• Philippines
8 Jan 23
@porwest That's not bad. It takes a lot of patience.
1 person likes this
@porwest (78761)
• United States
10 Jan 23
@Nakitakona A little bit. But making money and actually getting somewhere with it does as well.
1 person likes this
@RebeccasFarm (86757)
• United States
2 Dec 22
Yes as long as you are not gambling your life on it
1 person likes this
• United States
3 Dec 22
@porwest I can imagine how many have
1 person likes this
@porwest (78761)
• United States
3 Dec 22
@RebeccasFarm I would say a good many, but still, few people are involved in crypto, so at least the impact is not great.
1 person likes this
@LindaOHio (156056)
• United States
2 Dec 22
I still haven't cashed in my paltry $16. I need to get on the phone with CoinBase. Free crypto is OK. I wouldn't invest either.
1 person likes this
@porwest (78761)
• United States
2 Dec 22
For me it is a "just in case" scenario with no real personal capital invested. I don't mind losing money I never really had. lol
1 person likes this