Remember Jetco.in? The faucet used to function well (interestingly, its method of work “accumulating” Bitcoin was very similar to Mydoge.co.in‘s “accumulating” DOGE system).
Jetco.in used to pay out, the owner used to provide feedback, the faucet used to earn Bitcoin and distribute Bitcoin amongst its users… Until the “distribution” and “feedback” part were removed from the equation.
READ OUR FIRST SCAM REVIEW: Is jetco.in Bitcoin faucet a scam or not?
NOTE: Not all faucet users, whose faucets pull a “magic sleep with you tonight and disappear in the morning act” because they are inherently evil. A faucet’s income fluctuates due to various factors (e.g. an upsurge in competition, percentage of users using AdBlock) and its costs can skyrocket since fiat income will not even begin to cover cryptocurrency costs (remember Bitcoin price December 2017?).
Source: Coindesk
The faucet owner might lose interest in the project. Admittedly, an unimaginative faucet can bore a buddhist monk to death. Or just fail. Failure is no excuse, – exit strategy is an integral part of a business in a turbulent market such as that we find ourselves in. For fuck’s sake, though, even bankruptcy can be executed elegantly. Simply apologise, show your balance sheet, pay out what you can, describe what happened.
Be human.
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NOTE: We at DMYF firmly state that a cryptocurrency faucet can be made into a bulletproof and extremely profitable hassle-free online business. We’ve seen the nations faucets rise and fall, witnessed successes and failures, analysed business models. Mostly, we facepalmed; though at times, we applauded. We know the do’s and don’ts; we have the know-how, ingenuity, experience, knowledge, case studies upon case studies, figures upon figures and we could create a unique, market-leading faucet in no time with minuscule costs and immense ROIs. Our expertise is based upon statistical analysis, market research, prior first-hand experience, a wealth of knowledge and education. In actual fact, designing a profitable faucet is no rocket science; it all is based on the following principles:.. (copy-pasters at the ready? Yeeeeah, right, dream on).
Q: Why not do it then, smartass?
A: Because we are way more passionate about DMYF and we believe in the future of our project. At DMYF we do what we love doing without the obligation of screwing our clients over. We have dedicated a lot of time and effort into something very few believed in. We have a plan. And once we prove those who paid us no mind wrong, the world shall tremble.
🙂
On a more serious note: below, you will read about a Bitcoin Cloudmining scam called “Tesla Mining“. Funny thing is; we stumbled upon Tesla Mining banner while browsing one of the faucets which we consider legitimate. Naturally, adverts are faucets’ bread, if not bread and butter (with an exception of Freebitco.in and Freedoge.co.in, – the must-have faucets which are 100% ad-free; damn, FBC even offers a Captcha-free hourly Bitcoin roll option!).
Where have the shady ICOs moved when Google & co. kicked their adverts where the sun don’t shine? Faucets. Where are you promised 1000000000% ROI in three hours on some CloudMining website? Faucets.
Yet, do faucets need a source of revenue to pay their users? Yes. Do users like higher payouts? Yes. The morality comes into play when one remembers that “Common Sense 2018” is still not the most popular malware protection software. Besides, how many faucet users are young people working from home?.. What percentage of the target group is gullible?.. How difficult is it to make the connection of legitimate faucet = legitimate adverts?..
Yet, morals are morals, balance sheets are balance sheets and bonuses are bonuses. C’est la vie. DMYF is not some Order of Knights Hospitalier. Neither are we some self-righteous witchhunters or lawful good cryptocurrency paladins (chaotic good would do). Alas, we prefer exposing scammers, not depending on them for a living.
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Sadly, most faucet owners’ “business model” is as copy-pasted as their faucets’ scripts, – “advertise, overpromise, attract, generate as much revenue as you can, pay out as little as you can, cut all costs and eventually go bust, – with luck, months after last payout the faucet will generate passive income… Go on a holiday…Rinse, repeat”. Registered at many faucets? Let down by most? Surprise! Chances are, you were scammed by the same person, or group of people.
There are faucet owners who seem to care, but give up too early, thereare honest few simply lacking in financing and/or imagination, or those who genuinely care, but are cursed with the rare “doing everything wrong at the worst possible times“ disease. Others do not seem to have the capacity or desire to learn and are happy to ebank cents, not dollars, – cause hey, – thinking is hard and stuff. Thinking outside the box? Wait, there is a box?..
Narrow-minded, lazy, stingy, greedy, selfish, impatient, arrogant, petty… knowing close to nothing about cryptocurrencies, – typical “gentleman’s kit” of an average faucet owner’s/administrator’s character. We do not predict future, but even applying the 90% rule and saying that 90% of faucets are basically walking dead is sheer optimism.
Market conditions? No, market conditions have nothing to do with it. Reality check: as a part of the market, you are also, to a tiniest degree, hold responsibility for its health.Scamming, cheating, lying, – stop ruining the game for everyone.
Q: Why so misanthrope?
A: Cause welcome to the world of cryptos and DMYF, that’s why. Too much negativity? Feel like losing time/=money and get fuck all in return? Navigate yourself to Faucethub’s forum.
Notice how little we mention FaucetHub, despite its “influence”? FaucetHub stands for everything we stand against: nonexistent faucet quality control, draconian fees and lies, lies, lies. Want to waste your time, not get paid and end up used? FaucetHub is your ideal holiday destination.
Want to learn how to earn, or learn how to learn? Want an honest estimate of how much you can “earn” via visiting faucets? Want to read articles written by those, who feel genuine guilt for making one or two mistakes, writing (unpaid) positive reviews about scammers?
Welcome to DMYF. “This is Sparta.”
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In isolation, a Faucet’s faulty email address, or even a lack of response, should the address be operational is not a reason to sound the alarms. Wait for the first payout, reports of payouts, or lack of such.
DiceMine’s administration was very responsive when it came to e-mail correspondence.
READ MORE: DiceMine is dead, baby. DiceMine’s dead.
Coinpot.co is very reserved. Nevertheless, the communication with its users via the “News” section is timely. May the multi-currency wallet live long and prosper.
Dogemoon.cc “Dogecoin cloudmining” operation’s administration is “very busy” to respond. Busy with what? Making the design even more minimalistic? Scheduling a “fun’s over, guys” date? Preparing the next scam mine? Creating a pointless faucet? Or just preparing for hatemail?
READ MORE: DogeMoon – Dogecoin “Cloudmining” adds… a faucet.
READ MORE: Dogemoon – a “Cloudmining” Dogecoin Service – Review (part 1)
As cloudscammingmining goes, Tesla Mining responded promptly, but sank quicker than if the weight of Donald Trump’s ego would be added to the mass of Titanic.
(sidenote; anyone who has read the articles, saw multiple warnings not to invest in Tesla Mining; it was an obvious scam; we only registered there to expose the scam before it got too late and the referral link was added as a “come, check what these guys are really about”. And, we must admit, as a part of a social experiment: how greed can overpower common sense. Probably, Tesla Mining’s promises were just too sweet and our warnings not enough. Greed is one of the main motivators iof human nature. We sincerely apologise to the referral who invested his or her Bitcoin into that scam, however we have nothing to blame ourselves for; we never, ever, ever encouraged investment in Tesla Mining. Quite the opposite. Oh well… Lesson learned, we hope)
READ MORE: Tesla Mining
READ MORE: Tesla Mining – “free” Bitcoin Mining… What’s the catch?
READ MORE: Tesla Mining – Legit or Scam?
Hyper-reactive Support is also not necessarily a good sign.
NOTE: Ask yourself, if your “company”, preparing for an ICO would be composed of a registered address and your mom’s basement, or your “cloudmining” operation would consist of a website designed by that friend of yours who “knows photoshop”, use the cheapest hosting/domain, would you not try to imitate business activity and, at least, respond to e-mails? Twitter accounts, Facebook accounts and even Telegram groups are free.
P. S. While navigating MyDoge FAQ, we discovered the following:
Bad English (another warning bell, by the way) aside… What in the actual holy hell?!
A faucet asking for donations?! For running a script?! Or Cancer Research?! Seriously?!
Do not donate to businesses which are supposed to generate revenue themselves.
We are asking for donations to cover basic expenses, such as quality hosting and a first-level domain.
However, we do not expect any: the rules of free market will determine whether the service we provide to our readers deserves voluntary contributions. In addition to that, we assume that our readers believe that we get a hefty income from referral links (false – i. e. we do not have a single referral on MyDogeco.in).
Other than that, DMYF has no other sources of revenue. Yet we give Dogecoin and Bitcoin away to our readers (eventual goal being a 100% referral income giveaway).
READ MORE: Dogecoin Giveaway: Update
There’s something wrong with this world. Or MyDoge.co.in. Or both.
As a precautionary measure, we will remove all mention of MyDoge.co.in from faucet lists. Until we receive a payout, we are very suspicious and recommend you exercise caution.
