Update – 5/22/16

From 5/22/16

Hi folks and thank you for coming to LeagueBTC.com, where we give out bitcoin to get you in the game. This is the first installment  with this venture and I am super excited to see how this goes.  I am looking forward to seeing if I can achieve profitability in order to maintain the site’s continuity.

Where to begin?
My name is Mike and I’ve been fascinated by bitcoin since 2013. For the past few months, I’ve wanted to get a faucet up and running but had zero programming skills to make that happen.  Thankfully, I came across 99Bitcoins’ blog recently, especially the post that gives step-by-step instructions on how to go through the entire process how to create a faucet, from obtaining a domain name and website, how to implement the Faucetbox script/API, maintain security, and even gives tips how to achieve revenue and traffic. Click here to go to the blog post on how to create a bitcoin faucet.
Going through that blog post and the subsequent updates to 99Bitcoins’ Milli.io bitcoin faucet, he notes that he changed Captcha services from FunCaptcha to SolveMedia due to FunCaptcha becoming an additional expense while SolveMedia pays for solved Captchas. I decided to go ahead and use SolveMedia from the get-go to help bring in some revenue, though it is not expected to be a major revenue stream. The majority of revenue should come from ad space, so I am utilizing different ad placement strategies on my site to see which is most effective.

Ad Placement is Pretty Tough When Getting Started.
When trying to get accepted to some of the bigger advertisement placement services such as MellowAds, Coinads, Adbit.co and Google Adsense, they tend to have some lofty expectations. From my experience when applying to MellowAds, Coinads, and Adbit.co, they require high monthly website impressions and Alexa rankings. As for Google Adsense, they require your website to have quality content so a simple faucet will not cut the mustard anymore.  Here’s a BitcoinTalk thread talking about Google Adsense dropping well-known faucets.

Of course, they have these expectations for a reason.
Advertisers are paying these companies to connect them with publishers (such as bitcoin faucet sites) with the expectations that the advertiser’s websites will be shown in all of a publisher’s website impressions with the hopes that the publisher’s website viewers will click the links to go to the advertiser’s website to conduct business. I would have the same hopes if I’m paying Google or MellowAds, et al. hundreds or thousands of dollars if I were an advertiser.

So what am I doing thus far?
I’ve decided to go with Adbit.co frankly because they do not have monthly impression or Alexa ranking requirements, so this will hopefully work out while I work on the requirements listed above with the overall goal being to have a mixture of those services listed above. A nice feature with ad placement services like Adbit.co and MellowAds is they have their own internal faucets where advertisers and publishers receive bitcoin that can either be withdrawn to a bitcoin address or utilized for advertising campaigns on their respective networks.

And now for the preliminary results!
Here are the first glimpses at my number of solved Captchas and site impression quality.   The first couple days looked pretty promising, but today was a bit troubling in regards to the eCPM (effective Cost Per Mile, which is the (revenue/impressions)*1000), and revenue in relation to the solved Captchas. Yesterday, Saturday 5/21, for instance showed a revenue of $0.64 on 4,089 impressions (so an eCPM of $0.16) but in stark contrast, today showed $0.10 revenue on 12,014 impressions for an eCPM of <$0.01. I will keep tinkering to see if that can be improved, simply because it must.

Onwards and upwards!

Update – 5/24/16

Hi again,

As you’ll notice, we have a blog now!  We’ve been continuing to work on the ad placements so I decided to include a CoinURL ad slot in addition to the existing Adbit.co ones.  We’ll be keeping a close eye on CoinURL to see how their service helps because they only allow one of their slots on a page, when I have not found any such restriction on Adbit.co.   We will also continue to pursue other venues.

What about SolveMedia?

We’re still having problems with SolveMedia’s CAPTCHA because though the site’s account is set for revenue, we haven’t had any of their corresponding CAPTCHAs populate since Saturday.  This is becoming worrisome because this has been the vast majority of the site’s revenue to date.  I put in a support ticket late yesterday but have not received a response yet.  In the meantime, I replaced the existing CAPTCHA with a new SolveMedia CAPTCHA to see if that would help. Fingers crossed!

We’re on another rotator!

In addition to being on Faucetbox’s rotator list, we’ve been accepted into the faucet rotator on iFaucet.net! We are excited about this development because they are a popular faucet site, which hosts rotators for a number of cryptocurrencies, including bitcoin, dogecoin, litecoin, dash, peercoin, primecoin, and the red-hot etherium.  We’re also becoming interested in seeing the breakdown in LeagueBTC’s volume origination, like Faucetbox vs. iFaucet to see how we can optimize our efforts to both keep our returning user-base and grow our rankings in the existing rotators.

Until next time!