Topic: A suggestion for ICO promoters and bounty managers (Read 1561 times)
I suggest them to stop promoting scam projects,we can stop scammers and scam projects if they know how to look for the project before investing thats why they are the one of who can stop promoting scam projects.Im only promotes good project as a bounty hunter and i will promote Dencoin project as i look the project its good and has potential on the future if you want to look at this you can go the Dencoin website.
The idea is very good, BUT there will always be fraudsters who will not pay for bounty.
A good option to pay remuneration immediately is BTC or ETH, but where does the campaign money come from if they raise money for their project?
A variant with KYC ... some simply collect a document base under the guise of a real campaign.
Advertising, even in the form that it now brings results. Even if the bots do it.
We must try, offer our ideas and then everything will change for the better.
Great thoughts from the author. Respect
A good option to pay remuneration immediately is BTC or ETH, but where does the campaign money come from if they raise money for their project?
A variant with KYC ... some simply collect a document base under the guise of a real campaign.
Advertising, even in the form that it now brings results. Even if the bots do it.
We must try, offer our ideas and then everything will change for the better.
Great thoughts from the author. Respect
1. I have long argued for payments to be made in BTC or ETH (at least partially). This will reduce the amount of scam and also it will end never ending allegations that bounty hunters are crashing the exchange rates as they dump their rewards immediately.
2. I have never favored KYC for bounty hunters. My suggestion is to ban all the bounty campaigns, that ask for KYC. Doing KYC in return for $20 or $25 sounds ridiculous. On top of that there is always the risk of these people selling your KYC documents to someone else.
All this has long been known to prevent such regulation, we need to, otherwise it will continue. As an option, creating a coalition of bounty managers with an extremely strict selection of projects, however, this will not give any guarantees.
The idea is very good, BUT there will always be fraudsters who will not pay for bounty.
A good option to pay remuneration immediately is BTC or ETH, but where does the campaign money come from if they raise money for their project?
A variant with KYC ... some simply collect a document base under the guise of a real campaign.
Advertising, even in the form that it now brings results. Even if the bots do it.
We must try, offer our ideas and then everything will change for the better.
Great thoughts from the author. Respect
A good option to pay remuneration immediately is BTC or ETH, but where does the campaign money come from if they raise money for their project?
A variant with KYC ... some simply collect a document base under the guise of a real campaign.
Advertising, even in the form that it now brings results. Even if the bots do it.
We must try, offer our ideas and then everything will change for the better.
Great thoughts from the author. Respect
Great views on the current market. For the solution proposal I am not sure as we should not over regulate the bounty market. I have some negative experience with Hero and Legendary managers who do not update the spreadsheet and they are running like 10 campaigns and delegating the jobs and do not taking responsibility for the cheating and non transparency in their campaigns.
Your suggestion is very good. If you need more support, then I will be your first follower. I think the current ICO market is in urgent need of improvement because the ICO scam has caused the market to lose many investors.
I believe that the ICO's are all dead right now. I used to invest in some ICO's in the past but right now i would never invest them! When the ICO finishes and the coins go to the markets the first price would be too low for the ICO price. For example i did invest Farma Trust ICO and bought some coins from there. The ICO price was $0.05. The ICO was successful and more than $20 millions of coins sold. But when the coins arrive to the market the price was $0.001. Today when you check the price it is $0.0022. So why would i invest in ICO's? I wait for the ICO finishes and i buy way cheaper from the market in the first days..
Being a member of Bitcointalk for more than 6 years, I am quite a bit bothered by what happening in the bounty section for the past few months. This is what I have noticed:
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
I think there are chances to restore this sphere, due to the fact that it is very difficult to come up with a better way to raise money for such a high-tech production. The state will not Finance such projects.
Being a member of Bitcointalk for more than 6 years, I am quite a bit bothered by what happening in the bounty section for the past few months. This is what I have noticed:
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
Payments really fell, especially when compared to those that were a year ago. I was still not happy that I was paid $ 500 for one company, wanted more, and now me and$ 200 lead to a smile. Oh, so good time...
Good that is someone who is concerned about the whole situation on bitcointalk if only this idea can implemented then it will be good for us all for so longer as there is lawlessness there wont be any regulation thanks
Being a member of Bitcointalk for more than 6 years, I am quite a bit bothered by what happening in the bounty section for the past few months. This is what I have noticed:
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
You have painted so much about what can happen and how we should act, but we do not see your results in this activity. In the beginning we should say why we should listen to you or at least take your words into account.
Being a member of Bitcointalk for more than 6 years, I am quite a bit bothered by what happening in the bounty section for the past few months. This is what I have noticed:
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
You have described what every second bounty hunter who has worked on more than 40 projects knows. This is not some kind of discovery, but only a banal statement of facts. You should have called the theme "Farewell to new bounty hunters!".
This is a great idea, your suggestions are really reasonable and able to make bounty companies more attractive for honest bounty hunters. What is happening now is lawlessness and fraudsters enjoy their impunity. I suggest we put a vote on the promotion of your idea, it's really necessary.
Identity theft - a very common problem in the digital market, and I believe that KYC and AML for each member of the team must be fully binding.
Being a member of Bitcointalk for more than 6 years, I am quite a bit bothered by what happening in the bounty section for the past few months. This is what I have noticed:
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
It makes no sense to talk about it until it is a reliable company that will control the entire market. Perhaps I am not affiliated with any of the county, but we need it right now.
KYC for ICO - a very good idea, but I believe that it is too late. Teams will do so only if investors will strongly push them.
I support your suggestion. I always think that when all the bounty activities can pay a certain amount of prepaid funds from the beginning, it will attract more investors and hunters!
How about if bitcointalk should hold the percentage of tokens that are meant to be paid to bounty hunters to avoid not getting paid after bounty ended? Any ICO who is willing to do this no doubt a real project and not scam
Being a member of Bitcointalk for more than 6 years, I am quite a bit bothered by what happening in the bounty section for the past few months. This is what I have noticed:
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
1. A lot of scam projects are creating bounty campaigns and ANN threads. Once the bounty campaign is finished, they vanish all of a sudden without paying the bounty hunters and leaving the investors in limbo.
2. The quality of the bounty managers have gone down. Junior level members are acting as bounty managers and they often don't update the spreadsheets and sometimes indulge in cheating by enrolling proxy accounts to the campaign.
3. Large number of newbs are signing up for bounty campaigns, often enrolling using purchased Facebook / Twitter accounts (esp. in Social media bounty). The quality of posts being done by the bounty campaign participants have gone down quite a lot during the last few months.
4. Even those bounties which pay end up listing at 80% or 90% discount to their original prices and in the end the honest bounty campaign participants end up with very small rewards. On the other hand, those signing up with 10-12 multiple accounts end up with sizeable rewards. And it is the latter category, which indulges in token dumping.
5. There is no incentive to hold on to the tokens, as a majority of the ICO promoters dump their tokens in the market and vanish. If you check, the vast majority of the listed ICOs are in a dormant or defunct state now.
I have a few suggestions to resolve some of the issues, before the issues go out of hand.
1. There should be a requirement that if anyone want to post an ANN in Bitcointalk, he must deposit 0.1% of the total amount (of the softcap) in an escrow account. For example, if a project is planning to raise $50,000,000 from the investors, then before creating the ANN thread the promoters must deposit $50,000 in either BTC or ETH to an escrow account held by the Bitcointalk staff. If the soft-cap is smaller, like $500,000 then the escrow amount should be 0.1% of that, i.e $500. If the promoters vanish, then this amount should be forfeited. Also, if the promoters go back on their promises once the tokens are listed, then this escrow amount should be frozen and may be (partially) released only if they achieve the objectives which they had promised earlier.
2. There should be a list of approved bounty managers and those outside this list should not be allowed to act in this role. There are a lot of trusted bounty managers here, like Yahoo62278 and Lutpin. I don't think that newbs should be given priority over them.
3. In order to participate in a bounty campaign, it should be mandatory for all the users to post their ETH address in the "Location" field in the profile. I have noticed a large number of spammers using someone else's BTT account and their own ETH address to enroll in to social media bounties. This step will put and end to the practise and will weed out the spammers.
4. All the bounty campaign participants must be carefully screened before the payout. In order to prevent token dumping, a few steps can be taken. Since the bounty reward is 1% to 3% of the total amount, the promoters themselves can purchase this portion from the exchanges. Or they can make the bounty payments in BTC/ETH. There should also be a condition that the promoters should hold on to 90% of their tokens for at least 12 months. (Because I have noticed that it is the promoters who do dumping in the vast majority of the cases, and they blame it on the bounty hunters).
5. KYC must be mandatory for ICO promoters and bounty campaign managers (unless they are on level 2 DT). If this is done, then the scammers won't be able to set up multiple fake ICOs.
I am posting this because now the real impact is becoming obvious. Experienced users are staying away from bounty campaigns and even very promising ICOs are getting listed at heavily-discounted rates. This can't go on forever.
Good ICOs need to be protected from the negativity in the market created by the fake ICOs.
Honest bounty hunters needs to be protected from the cheaters
Properly run bounty campaigns and airdrops should be appreciated and differentiated from the poorly managed ones.
Please stop participating bounty until until it becomes clear to the whole situation. The probability of wasting your time is extremely high, so you can spend it on something else.
The author made good suggestions. About KYC very true statement. I have repeatedly met the same managers of different ICO. My suggestion is that would Amazis, Sandra Events, Ltcbtcdigger introduced a black list of fraudsters. Then deception will be less.
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