Potato-Bank faucet officially shuts down

 Well, if you are a loyal Potato-Bank user, you might have noticed that we have disabled the API and the faucet is not working anymore. Well, we are finally closing Potato-Bank until we find a proper revenue stream to enable the faucet to be self-sufficient. This is sad, we had a great run and after multiple transfers, we still have the potato-bank.cf domain and it is now a redirect URL to the FaucetFly faucet. Since all claims are directly into FaucetBox, there will be no final payouts which means you can just leave but please do not remove the URL from your bookmarks! We might come back in the future with an even better and stronger faucet once we develop a good plan on how to get the faucet to become self-sufficient.

Screenshot from 2016-08-06 01:32:06

Why shut down the faucet due to “improper revenue streams”?

Potato-Bank has been the official faucet for Adventure Bitcoin since the first months it has been around. Sadly, since Dogecoin is rather expensive if you exchange between BTC/DOGE, you don’t get much. As a result, we rely on ad revenue, affiliate marketing and user donations in order to keep it running. After realizing that a lot of the Potato-Bank funds were from the Adventure Bitcoin website balance, we decided that it was no longer supportable. We used A-ads, BlockAdz and various affiliate marketing techniques from 99Bitcoins which are really helpful but even that revenue only yielded around $1.04 for Potato-Bank’s entire lifetime. Since we were at a loss, our best move was to disable the faucet.

By the way, I highly recommend you check them out over at 99Bitcoins.

Will it come back?

To be honest, it is very likely. Owning and operating a faucet to introduce people to Dogecoin and cryptocurrency not only helped out the world of Bitcoin, but also the Dogecoin community to raise demand for their meme money. We plan on coming back maybe in 2017 (if we are lucky, maybe earlier or later). Here are the things we plan to add and improve:
  • Dedicated hosting (I enjoy FaucetFly but it isn’t professional for ad networks)
  • Integrated into Adventure Bitcoin (This helps entertain you guys and deliver both free crypto and news)
  • A small team (So far, only Angus is handling the faucet’s marketing, funding and support)
  • Increased claim amounts (I’m okay with the 2 Doge per claim minimum but I want to increase it to 4 or 5 Doge minimum)
  • Better ads (Not beginner or small ad-networks that pay bad. We need decent ones)

How can I help?

There isn’t much to help with but if you want, you can always share and support Adventure Bitcoin and if you visit this page, (which is under the “about” menu), you can send me referral links and suggest faucets, websites and stuff to review which are crypto-related. Please don’t send the Adventure Bitcoin team a bunch of HYIP, Ponzi and unfair mining stuff because we can tell what they are just by looking at their operations. Also, please just hang on to the potato-bank.cf link.

What now?

Well, now we focus mainly on Adventure BitcoinTechnology Is Key and TFSC which are the other projects other than Potato-Bank that I am working on. Adventure Bitcoin has 2 writers now which should be effective in around several days, Technology Is Key is my tech blog which I plan to introduce “interview podcasts” and visits to local workshops because I enjoy interacting with people. TFSC is launching a super cool Book Review and Writing Guide blog which should compensate for the decreasing interest in the TFSC monetized reading and writing platform.

Also, I am working on a new project for fun which will be a Bitcoin mining simulator with some real life Bitcoin mining. I just need to get permission to modify a specific faucet script and build the mining simulator and it will be ready to be tested. I plan to include some real mining such as giving users free hashrate and a small share of the mining profits. Since most faucets aren’t really transparent, I will be adding things such as the official website Bitcoin address, thanks to CoinVault so that users can check out where the BTC is going, fund allocation charts and free ways so they can earn more hashrate. More info will follow on release.

Lastly, thank you all again for making Potato-Bank a great faucet. Everyday, I had to check and refill the faucet because I never anticipated so many visitors who just wanted 2 free Dogecoin. Well, I guess this is the end for the faucet (for now).

Thanks,
Angus

This post will also be available on Steemit, Technology Is Key, Zapchain and the original Adventure Bitcoin.

Angus

Angus is the Editor-In-Chief and creator of Technology Is Key. He enjoys tech and business and also runs Adventure Bitcoin.

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