MiracleBITS

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Frequently Asked Questions


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What is Bitcoin?

Bitcoin is a decentralized digital currency and digital payment system. The system is peer-to-peer, all transactions takes place between users without any intermediaries(such as banks), transactions are verified by network nodes and are recorded in a publicly distributed ledger called blockchain. Bitcoin transactions are defined using a Forth-like scripting language. A valid transaction must have one or more outputs and every input must be must be an unspent output of a previous transaction. Fees are based on the storage size of the transaction generated, which in turn is dependent on the number of inputs used to create the transaction. Paying the transaction fees(miner fees) is optional, however, miners can choose which transaction to process and prioritize those with higher fees. Bitcoins and all the necessary information needed to transact bitcoin are stored in a wallet.

Who created Bitcoin?

Bitcoin was initially(2009) led by Satoshi Nakamoto. Nakamoto stepped back in 2010 and handed the network alert key to Gavin Andresen. Andresen stated he subsequently sought to decentralize control stating: "As soon as Satoshi stepped back and threw the project onto my shoulders, one of the first things I did was try to decentralize that. So, if I get hit by a bus, it would be clear that the project would go on." This left opportunity for controversy to develop over the future development path of bitcoin. The reference implementation of the bitcoin protocol called Bitcoin Core obtained competing versions that propose to solve various governance and block size debates; as of July 2016, the alternatives were called Bitcoin XT, Bitcoin Classic, and Bitcoin Unlimited.

Does anyone control the Bitcoin network?

Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can’t force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.

Is Bitcoin legal?

To the best of our knowledge, Bitcoin has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin exchanges.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system. For example, the Financial Crimes Enforcement Network (FinCEN), a bureau in the United States Treasury Department, issued non-binding guidance on how it characterizes certain activities involving virtual currencies.

Why does Bitcoin have value?

Bitcoins have value because they are useful as a form of money. Bitcoin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies). In short, Bitcoin is backed by mathematics. With these attributes, all that is required for a form of money to hold value is trust and adoption. In the case of Bitcoin, this can be measured by its growing base of users, merchants, and startups. As with all currency, bitcoin’s value comes only and directly from people willing to accept them as payment.
Learn more about Bitcoin...


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What is MiracleBITS

MiracleBITS is a bitcoin faucet that gives you chances to get the most income as possible. Choose where you want to work; work once a day, work every 2minutes that counts, or work every hour. MiracleBITS provides a 1 hour faucet where you can earn bitcoins every hour plus 20% referral bonuses for each claim your referrals make; Faucet Dice game offers a more flexible earning scheme where you claim every 2 minutes for dogecoin and have a chance to make it grow in the provably fair dice game presented after every claim, bonuses are here too were you can have 40% bonuses for each claim you referral make and of course for every bet of your referral make regardless of he/she wins; Daily tasks offers a more ways to earn paying out up to 100,000 satoshis per tasks.

Why can't I access any of the faucet?

In such case we reccommend you disabling or putting us in the whitelist of your adblocker. If the problem still persist you could try turning off your router to get a new IP address as your IP address might have been blocked by our admins due to fraud or request by our clients in the daily tasks. Please do avoid using VPN or TOR or the likes in accessing the site.

I'm always presented this "User access error" error whenever I try to login, what's that for?

You can check on the status page to check whether something is up that prevents you from logging in. If there's is no problem most probably your account is blocked by our admins due to fraud or abuse, do contact us if you think that there's been some mistake on such case.

Why does all the claim amounts in the faucet keeps on changing every now and then?

All claim rewards are subject to change. Rewards are calculated based on the current prices of the cryptocurrency over US Dollar, and our earnings in the advertisements placed on the site. Current claim rewards are found on the status page.

What is faucet dice game?

MiracleBITS offers three ways of earning and one of theses is the dice game. You can claim dogecoins every 2 minutes and have it grow in the dice game. The faucet uses an algorithm called provably fair to ensure fairness of the system to each user's bet. The faucet also provides a referral bonus to each user.

Why the claim rewards suddenly dropped to half even though the price of dogecoin never fluctuated that much?

This is a special case in the faucet dice game. We monitor the number of registered users, the number of active claimer in the faucet dice, and the total number of claims made for the day. If in any case that the total number of claims made is unreasonable in respect to the number of active claimer and registered user, the claim reward is cut into half by the system and should take effect for 24hours. If the same thing happens for the first 12hours that the reward cut in effect the account most suspicious to abuse/fraud is totally banned. Simply put, if the total number of active claimer is just 20 the system only expects only a total of 28,320 [ 59claims/hour(this is an average) X 24hours X total number of active claimers ] claims max for the day if these goes beyond the system automatically cuts the reward for the next day and logs the users who's been suspicious in the last 24hours. The system automatically block the suspicious user if the same still happens 12hours after the cutting of reward happened. Once a user has been marked suspicious is put into observation by the system and automatically block the user, if he/she marked twice, on all the faucet, with the earnings on daily task and main faucet forfieted.

What is MiraCoins?

MiraCoin is an in-site currency ready for use in MiracleBITS. MiraCoins works the similar way as reward points and the likes. MiraCoins can then be exchange for awesome prizes or used as boost for your faucet earnings. MiraCoins can also be used to exchange for Doegcoins. MiraCoins in-site value can change from time to time depending on the faucet's currency market value.

Why is the faucet not paying?

Possible problem is available in the status page and action that can be taken.

What is this provably fair thing?

Provably fair is an algorithm that can be used to analyze and verify player's bet in the online betting/casino games.

How does this provably fair works?

In a provably fair gambling system, a player places bets on games offered by the service operator. The service operator will publish a method for verifying each transaction in the game. This is usually by using open source algorithms for random seed generation, hashing, and for the random number generator. Once a game has been played, the player can use these algorithms to test the game's response to his in-game decisions and evaluate the outcome by only using the published algorithms, the seeds, hashes, and the events which transpired during the game.

COINHIVE BACKGROUND MINER AT WORK FOR 30 MINUTES A DAY AT LEAST THRICE.



What's this main faucet?

Here you can claim bitcoins every hour. We also offer a referral bonuses for each referral claims. The claim rewards are subject to change depending on market price. Unlike the faucet dice game the main faucet does not offer a fixed claim reward but a rewards that ranges up to $10 per hour. The list of claim rewards are available in the status page. Surprise bonuses are also present and will be available every once in a while.

Why not offer an instant withdrawal in the main faucet since it uses faucethub to facilitate withdrawals?

Bitcoin as we all know is a very volatile currency, price fluctuations are almost as high as heaven and as low the ocean floor. Since the latter part of 2017 we seen it to rally up to hundreds of percent gaining almost $20,000 and going back below $10,000 since the early part of 2018 and this continues going up and down daily for almost 10-20%. Such fluctuations can cause a severe losses on our part. We might want to reccommend you using the faucet dice instead where you get dogecoin and withdraws in instant. Bitcoin is not meant for instant payouts, unlike before.

What's the payment threshold?

Payment threshold are set to 10,000satoshis

Is it possible to request an immediate withdrawal, just badly needed?

No.

When is my payout be sent?

Payouts are sent thru faucethub every Sunday 00:00 GMT+8. Possible delays will be announced 12hours prior to payment run.

Where on planet earth is the withdraw button?

Withdrawals are made automatically every Sunday once the user reaches the payment threshold

Is the same reward cutting on the faucet dice also present in here?

No. But that doesn't mean you should abuse the faucet. The faucet has its own way to detect abuses.

What is this daily tasks?

In daily tasks each user is given a specified task to be accomplish for bitcoin. Tasks will be available once everyday and each task depends on the country the user resides. Each task may require 1 minute to 1 hour depending on the type of task and/or the amount of reward or as per requested by our client. Tasks ranges from a simple browsing a page to answering a few surveys to installing an application to signing in on the website.

Is the apps that's present in the daily task or the website present safe?

Yes. Each task and application offers are all safe and undergone verifications and testing by us

When is my payment be sent?

Payment is sent on faucethub 1 hour after the task completion is verified which can take a minute to a day or two.

Why here you can offer a payment in just an hour while in the main faucet not?

It is our client that pays you.

Can I also place an offer too?

Yes. Just contact us and be sure to provide all the details and you'll be contacted by our admins.

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