Wired ran a story today about a group of homeless men living in Pensacola, Florida that are using sites like BitcoinGet to help them survive. If you haven't read the article yet, be sure to check it out here.
Our goal with BitcoinGet has always been to create an easy way for people to earn bitcoins, but never did we imagine it would be used as a replacement for panhandling. It was interesting to read that the homeless followed in the article actually preferred getting paid in bitcoin because of its ease of use and the protection it provides against getting robbed. Earning bitcoins has also spared them from a lot of the embarrassment that comes with panhandling.
Naturally, the argument that technologies like Bitcoin can "solve" deep-rooted socio-economic issues has stirred up some discussion on Reddit and Hacker News. We are happy that BitcoinGet and similar sites are part of this discussion, and that they might actually serve as small pieces of the puzzle.
Here are some numbers after six months of BitcoinGet:
- Over 40,000 active users.
- Over 300,000 videos watched.
- Over 300,000 tasks completed.
- User earnings total over 115 BTC.
Thanks to everyone for their continued interest. Our goal from the start has been to make it easy for people to earn bitcoins, and the numbers show that we have succeeded, at least to some degree!
We are proud to announce that you can now have bitcoins earned through our service directly deposited into your BitVegas account. To start, just visit our partner page and enter your BitVegas/Minecraft username. It's that simple!
We, at BitcoinGet, have been huge fans of BitVegas ever since its launch several months ago. For those not familiar with BitVegas, it is a Bitcoin casino and vibrant community within Minecraft. It's truly a social gaming experience like no other. You can find more information on the BitVegas homepage.
BitVegas was featured on today's epidode of Plan B, a Bitcoin podcast. Hear about new and upcoming features as well as our partnership announcement:
For the past week, we have been holding special bitcoin giveaways via our Facebook and Twitter pages. We plan on doing more of these giveaways soon, so be sure to like and follow us for latest updates. To be eligible for the free bitcoins, you just need to be among the first X number of people to reply to our giveaway announcements with your Bitcoin address.
We're currently brainstorming for other contests and promotions that can be fun and rewarding. If you have any ideas or feedback, we'd love to hear from you!
As Bitcoin grows in popularity, we are seeing more and more businesses beginning to accept the virtual currency, from small specialty shops to large brands. While our blog is generally focused on earning bitcoins, today we're going to take a moment and go over some newer options for spending bitcoins.
Gyft is a mobile gift card platform that recently added support for bitcoin purchases of gift cards via its Android app. This immediately opens up over 50,000 retail locations across the US to bitcoin holders. What we love about this service is that there are no fees for purchasing gift cards. What we don't like is that the service is restricted to the US.
Coingig is a marketplace where anyone from around the world can buy or sell products using Bitcoin. They launched about a month ago and already have hundreds of products up for sale. Buying from Coingig is easy and safe—payments are protected with an Escrow system. They also have a simple and fair refund policy to ensure buyer satisfaction. Also interested in earning bitcoins? It's easy to set up a store, and their 2.5% selling fee is very competitive.
BitcoinStore is the largest electronics retailer that deals exclusively in Bitcoin. By taking advantage of Bitcoin's unique properties of no chargebacks and minimal fees, they are able to maintain highly competitive prices. Some products on BitcoinStore are even cheaper than on Amazon or Newegg. BitcoinStore officially launched a few months ago and has already generated over 6,000 BTC in sales.
A controversial change was recently put into the next Bitcoin release that will effectively block any transaction with outputs less than 54.3 µBTC. The motivation behind this change was to discourage people from clogging up the blockchain with "uneconomic dust." You can read more and review the full implementation here.
We, at BitcoinGet, understand the importance of this change in ensuring the health and stability of the Bitcoin network. However, it will affect our operations to some degree. We will have to impose some threshold before pending balances get paid sometime in the near future. The threshold will be reasonably low—100 µBTC or so. For a majority of our users, this shouldn't be an issue.
With the hype around Bitcoin these days, BitcoinGet has received no shortage of traffic. We just wanted to let everyone know that our focus is still on developing new ways for our users to easily earn bitcoins. We're currently looking at the possibility of offering ad-sponsored games. If anyone has any ideas for simple and fun games, feel free to share them with us on Facebook or Twitter.
First, we wanted to thank everyone for their continued interest in BitcoinGet. We've received a lot of positive feedback, but one thing is still clear: everyone wants more bitcoins for doing less.
We remain dedicated in providing our users with fast and easy ways to earn bitcoins. That's why today we are proud to announce the easiest, most effective way to earn bitcoins ever. For a limited time, earn 0.01 BTC every hour for doing nothing except providing us with your Bitcoin address (if you haven't already). This service works similarly to some of the Bitcoin faucets out there, except you don't even need to solve a CAPTCHA here, and we pay you at least 1000 times more!
Once we have your Bitcoin address on file, you will be credited immediately. You will also be presented with one short and sweet message from our sponsor, which you are free to disregard. We won't annoy you with any popups or give you an eyesore by stuffing as many ads as we can fit on a page.
What are you waiting for? Click here to get your free bitcoins!
UPDATE: Happy April Fool's Day!
The Financial Crimes Enforcement Network (FinCEN) has issued new guidelines addressing the Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies. The guidelines do not mention Bitcoin by name, but there is little doubt which "de-centralized virtual currency" FinCEN had in mind.
The good news is that Bitcoin is not recognized as a "real currency" by FinCEN, and therefore, helps Bitcoin avoid the regulations that apply to "prepaid access" products: "A person's acceptance and/or transmission of convertible virtual currency cannot be characterized as providing or selling prepaid access because prepaid access is limited to real currencies." Furthermore, FinCEN writes, "A user who obtains convertible virtual currency and uses it to purchase real or virtual goods or services is not an MSB under FinCEN's regulations." This means that a holder of bitcoins can spend those funds without registering as a "money services business" or reporting concerns regarding money transmission.
From there, the guidance gets a little unclear, especially regarding the lines between "users", "money transmitters", and "exchangers". Bitcoin Foundation's general counsel posts his interpretation here.