Hey everyone!
Today I am announcing the release of my first project specific token on the CounterParty protocol, EARNFREEBTC.
This token represents all profits from http://earnfreebitcoins.com , which is one of my older but still strong running projects.
"Earn Free Bitcoins" is a popular "earn bitcoin" faucet site, similar to btc-clicks and bitvisitor if anyone here has been to those (or maybe you have been to earnfreebitcoins before). Basically, visitors enter in their BTC address, view several sponsored websites for a few minutes at a time each, and receive small amounts (very small, this is meant for newbies and people that want a little bit to play with) of bitcoin as a reward. On the flip side, advertisers can sign up with an account, submit URLs, place a bid and choose how many visits they want their URL to receive. Once paid for and approved by admin, their site is added into the ad rotations.
The website has been running since December 2012, and has been going strong since, with several regular advertisers and thousands of regular users. Since it started, we have received close to 1.5 million visits, 8.8 million page views and an average 15 minutes spent on the site per visit. See stats below for Dec 2012 to May 2014:
Bitcoin wise, ~20 BTC has been given out to users of the site, several BTC to affiliate advertisers and the site itself has earned several BTC in pure profit and pay per click ad revenue. Better stats on this to come soon.
There are 3 ways that the site earns money. 1) 30% - 60% (depending if an affiliate advertiser is involved) of the price per visit that advertisers paid is kept as site profit (this is calculated for every verified/complete visit). 2) Pay per click ads, banner ads around the site and 3) Separate ad deals such as people buying dedicated links on the links page (which is dealt with personally on case by case basis). The site also generates a much smaller amount of revenue from the various referral links on the home page and links page.
[size=2em]Asset Info:[/size]
[list]
[li]Asset Name: EARNFREEBTC[/li]
[li]Divisible? Yes[/li]
[li]Issuance Locked? Yes, no more shares will be made[/li]
[li]Total Shares: 100,000[/li]
[li]Shares selling in this crowd sale: 40,000[/li]
[li]Blockscan: http://blockscan.com/assetInfo.aspx?q=EARNFREEBTC[/li]
[li]Project Website: http://earnfreebitcoins.com/xcp[/li]
[li]Pays dividends? Yes[/li]
[li]Dividend schedule: Weekly, every saturday starting June 14th, 2014[/li]
[/list][size=2em]How to Purchase[/size]
[size=1.45em]Tokens left available for purchase:[/size][size=1.45em][color=#ff0000] [/color][/size][color=#ff0000][size=4]38,165.261168[/size][/color][size=1.45em]Price per share:[color=#008000]0.00025 BTC[/color][/size]
[list]
[li]Create and fund a wallet over at https://counterwallet.co/[/li]
[li]Send any multiple of the above share price to the following address: [size=1.35em][color=#008000]1Erm64r148nzRM1uZhXjk2L3ibpZ9yrteL[/color][/size][/li]
[li]Within 24 hours (I am processing these manually at the moment), you will receive your EARNFREEBTC tokens to the same address that you sent the funds from. [/li]
[li]Do as you please with your shiny new tokens. Dividends will be paid out every Saturday to all holders of the asset. [/li]
[/list][size=1.45em]What will you do with the funding?[/size]
Funds raised from this experiment will be used for a few things such as…
[list]
[li]Paying for developer time to build in some new features that were originally planned with the new site version that was launched at the beginning of this year. plus more[/li]
[li]Upgrading servers to handle more traffic, faster etc.[/li]
[li]Marketing, building our user base, optimizing ads and finding new advertisers[/li]
[li]Recruiting help for management and customer support (I personally do not have enough time to keep up with all the contact emails, reviewing and approving advertisements etc.)[/li]
[/list][size=1.45em]When does this crowd sale end?[/size]
[size=1em]When all 40,000 tokens are sold in one way or another 
[/size]
[size=1em]Any questions, concerns? Let me know. [/size]
[size=1em]For the moment, everything will be processed manually by me, although I am working on some solutions to automate the process. Stay tuned to this thread for new details, more stats, etc.![/size]
[size=1em]Cheers[/size]
[font=verdana][size=1.45em]Paid Dividends[/size][/font]
Refer to this page for dividend history: http://earnfreebitcoins.com/xcp#dividends
Quick announcement:
We are now using XBTC (https://forums.counterparty.co/index.php/topic,404.0.html) to pay all dividends. Primary reason for this is that due to the dust size limits on the BTC network, smaller shareholders cannot get any dividend payments unless they have enough to be above the 0.000055 limit. XBTC also offers some other advantages over pure BTC, and can be exchanged on a 1:1 ratio.
[quote author=cryptonaut link=topic=373.msg2789#msg2789 date=1404458461]
Quick announcement:
We are now using XBTC (https://forums.counterparty.co/index.php/topic,404.0.html) to pay all dividends. Primary reason for this is that due to the dust size limits on the BTC network, smaller shareholders cannot get any dividend payments unless they have enough to be above the 0.000055 limit. XBTC also offers some other advantages over pure BTC, and can be exchanged on a 1:1 ratio.
[/quote]
While I think using XBTC is a great decision, I also think you will face similar problems: people may try to cash out their XBTC at a vennding machine, for amounts below the dust limit, and not get BTC in return.
[quote author=cityglut link=topic=373.msg2791#msg2791 date=1404532637]
[quote author=cryptonaut link=topic=373.msg2789#msg2789 date=1404458461]
Quick announcement:
We are now using XBTC (https://forums.counterparty.co/index.php/topic,404.0.html) to pay all dividends. Primary reason for this is that due to the dust size limits on the BTC network, smaller shareholders cannot get any dividend payments unless they have enough to be above the 0.000055 limit. XBTC also offers some other advantages over pure BTC, and can be exchanged on a 1:1 ratio.
[/quote]
While I think using XBTC is a great decision, I also think you will face similar problems: people may try to cash out their XBTC at a vennding machine, for amounts below the dust limit, and not get BTC in return.
[/quote]
maybe. Im going to most likely set up my own vending machine for it (probably stock up on some first), and I will have a disclaimer that they shouldnt attempt to cash out under the dust limit. The user base is already pretty familiar with dust issues, its been a problem since near the beginning (users on the site have to build up the 55 uBTC just to cash out)
Number 1 result on BING! for "Earn" "Free" "Bitcoins"
Number 5 on Google!
