07 Mar MedioPay 1.8: The return of the Faucet
With version 1.8 of MedioPay, bloggers can direct their readers to a faucet, where they get a small amount of BSV for free.
One of the earliest thing we did with MedioPay was to set up a faucet. If you are new in the space: A faucet means a website where you get free Bitcoin. The first faucet was created by legendary Gavin Andresen in 2010 to help spread Bitcoin.
We want to invest a bit of money to support the bloggers which use MedioPay, and to enable their readers to try paying the paywall without buying BSV. All they need is a MoneyButton account. However, it turned out that our faucet was quickly abused. Someone used it to take a small sum of BSV every 30 minutes. As this was not how it was meant, we shut it down. Since then we martered our heads how we can make it more secure.
This is a general problem. How can we make sure that only legitimate users can get free BSV from our faucet? How can we spot who is a legitimate user and who is a freerider? And how can we keep the faucet easy, but make it more secure? These are hard questions, and it might be the reason why most faucets have shut down or demand authentification with SMS or some other means. The history of Stellar is full of anecdotes why it is very hard to give away cryptocurrency token for free. This is the internet, if you show a weakness, you get exploited.
One of our goals was to keep the user experience as undisruptive as possible. No KYC, no SMS, no captcha. Just a login with MoneyButton. Everything else should happen in the engine, outside of the user’s sight. Today we proudly announce that the faucet is active again. We simply tie it to blogposts. It only pushes out BSV, if the reader comes from a blog which has registered for the faucet. This gives us a lot of option to better control the payouts.
For you, as a blogger using Mediopay, this means: You can now again direct your readers to our faucet, where they get 0.50 Euro-Cent for free. We basically pay your readers to pay for your blogs.
Question and Answers
How can I activate the Faucet?
Go to options –> Mediopay, scroll down to the bottom and click the button “register for faucet”. After pushed, it might take a few seconds, then a success message appears. If you want to check later if your blog is registered, you just need to click the button again.
How can my readers enjoy the Faucet?
In the paywall field there is a special link “Don’t know how to pay? Learn and get free BSV!“. When your readers click this link, a new tab opens with our faucet site. Make sure you set a good color for the link in your mediopay options, so that it catches your readers’ attention.
If you are quick, you can test it here:
Don't know how to pay? Learn and get free BSV!
Why does the faucet not work on all my posts?
To prevent abuse, a valid link to the faucet is only delivered in posts published AFTER you activated the faucet. We don’t want some exploiter to use your old posts to empty our faucet.
Is the faucet rate limited?
Yes. We implemented a rate limit of 8 payouts for each post, and 100 payouts for a blog. If you reach the limits and want to lift them, or if you plan a post to present the faucet, get in contact with us. We will validate your request and might allow more value to flow to your readers.
Will the faucet always stay active?
We don’t know if it holds. We believe our approach is very good and are confident, but we can’t guarantee that it will not be abused. In case this happens, we will shutdown the faucet again and try another approach we already have in mind.
With linking the faucet to a blog, we developed an infrastructure to integrate more services into your blog. There are a few more payment options we are working on, and some exciting news to follow up with soon.
MedioPay is a the most popular cryptocurrency paywall plugin for wordpress. After five month in existence, it already achieved more than any other tool. It provides a large scope of options to design your content economy, be it paywalls or tipping buttons, and integrates publishing with payment streams which incentivice early buyers and allow your readers to earn by sharing your post with an affiliate link.
Install the plugin from the official WordPress directory.