Advertising via Bitcoin spam

If you are receiving mysterious and weird payments and you are not up to speed about what is going on, this article will clear it all up for you.

The small amount of funds (usually 1 Satoshi=0.00000001 Bitcoin) is sent to your Bitcoin wallet from an unknown address. The explanation of such actions may be found in the thread on BitcoinTalk. And it simply turns out to be SPAM transactions.

The way people use micro Bitcoin transactions to advertise a website or service

For example, you want to use Bitcoin transactions to promote your Bitcoin gambling website. The thought is that the spammers are counting on some recipients being gamblers who will then follow the trail, discover a gambling site, and deposit Bitcoins on that site. If you make, for instance, 1,000,000 transactions of 1 Satoshi (0.00000001 Bitcoin) it will cost you 0.01 Bitcoins which is hardly $4. In order to make this micro transactions work and succeed, you have to use 1 simple trick - embed a message with your website’s name. In the result, at least 1% out of 1,000,000 people that receive gift money will visit your site.

This way you can get 10,000 folks searching for your website on Google and likely to become your clients. Even if just 1 of these million turns to be a paying customer you’re already on velvet. Though you will have to pay fee for all of these transactions but it’s still might be a lucrative method to let the e-currency world know about your website.

How to embed SPAM messages inside a transaction

You can attach a message to a transaction through your Bitcoin wallet, as this type of an action is allowed by the Bitcoin protocol.

The reverse of the medal

In most cases such types of transactions are unconfirmed, as the minimum amount of the confirmed transaction should be at least 5,430 Satoshis, or 0.0000543 Bitcoins. These transactions "fail" after a few days and disappear from the wallet. It's essentially free advertising because, the transactions will never go through and the spammers get their Bitcoins back.

Is there any way I can prevent this SPAM?

Unfortunately, nowadays there exists no prominent way to stop certain addresses from spamming you and sending money. It's important to note that receiving one of these transactions means little or nothing. There is nothing that the sender can get from you, including information, by sending you a Satoshi. The only solution is to ignore these messages and eventually spammers will find this less efficient. If this really annoys you, you can just archive your current Bitcoin address and use a new one that hopefully the spammers aren’t aware of.