Topic: Bounties explanation and the reasons why many project is failed (Read 487 times)

There are no reasons for failure except lack of proper preparation and lack of product.
Alot of people now find it very easy to blame Bounty hunters and its not funny.

How can you blame hunters as a reason why projects do not get investors?
This is the lowest point

OP focuses on the purpose of the bounty which is used as a means to attract investors. Whereas many bounty hunters only use fake followers or friends, so they feel less effective because they are not on target. That can be a reasonable reason. But it also depends entirely on how good the project is.

This is where the role of the bounty manager team, providing choices and selection that is really strict to achieve the desired goals.

The investor have learned the situation of 2017 ago, spending money for the project that have no real use case are worst. The chance to get their money back is small so they have to give to hope their money back. At least that situation can be evaluated, they have to learn more about the project and find the ins and out behind the team of the project because this is the important part when choose a project. I really like the developer who still try to build the project although they have failed to convince the investor for the first way. At least it can be made as a plus value for them.

It is also worth considering the fact that a lot of projects began to appear and many even good projects are simply lost against the background of all the others. This is another important reason why projects and bounty companies fail.

true because at this time the crowfunding crypto project has been tainted, and yes to get a lot of funds they also have to sacrifice more, for example, do promotions other than bounties and also if they want to do it ieo never use a new launchpad because the chances of success are very small and this is evident from the case hackenai. they prefer oceanfx launchpad because at oceanfx vechain tokens (the blockchain used by hackenai) have large volumes there but unfortunately that doesn't affect sales.

I remember when soft caps standartly were around 10 million USD in 2017. Now projects have problem to raise hundreds of thousands dollars and moreover on reputable exchanges. 

content works perfectly as I think. many people do not like to read information about the project in some resources. they all prefer to watch YouTube in order to see what is being said and listen to another person. the most important thing is that people must create very high-quality content

Most bounty do not require interaction with the content, but that does not mean that the content does not work. They cause projects to rank higher on search engines.

Correct since 2017 I've been seen many projects has big hits without conducted any promotion as like bounty campaign, but in the scenario definitely which projects made enough fundraising in privately. At this moment it’s much rare to find a project without bounty promotion. No matter what projects quality i think promotion is helps to acquire success.                      

New projects should continue developing their product even if they didn't reach the softcap. I believe developers that continue to make their product are more serious about their project and the project is more likely to succeed in the long run. It's not really the bounty hunters fault if the project fails to reach softcap their project might not be interesting or doesn't have real world use.

Yes thats correct. Investors probably learned their greatest lesson that there is no permanent in this world. They probably invest on some ICOs that they would not expect to ruin or wasted their money. Lets agree that msot of them got loss and bounty hunters are dont losing any money while them suffer a huge defeat.

Bounty is not as precise and reliable today compared to previous years. But dont give up on looking for those worthy campaign. Maybe if you been a hunter for a long time you can recognized already which to promote.

trust wallet project be an example that not all project talk about money, even their team provide free money to spread their project by participating in their airdrop program. there are another same project to that have good plan and good quality in their developtment, we should not generalize all project were oriented on money.

Not at all. Some new projects have already started with small amount of money or even with the airdrop. I can tell you now that TWT has already made by trusted wallet and it used airdrop mechanism and it's not always about money. So many failed projects have created nothing to be proven.

It will be difficult to compare such things because there is no special percentage for bounties from 2017 until now, but that has changed since investors no longer trust new projects because they often fail and make them disappointed with failed investments, of course they will lose a lot of money.
So now investors are more careful in choosing new projects to invest in, right?

There are many projects that achieve success without the need for bounty hunters, they have their own way of promoting.
The bounty hunters have contributed to the success of the project but the most important thing is the quality of their products.

You cant compare the commitment of the investors then and now. Then, people are ready to put money into a project and there is a lot of hope that they will make their money back but today there are many issues facing the project and bounty campaign. Many investors are not ready to invest due to scams. A lot of bounty hunters are regarded as dumpers and dev team will do anything to protect their token if get listed

It’s correct also i received a payment from failed project dexage, after exchanges listing it’s worthy, they distributed full allocation although it was failed. Hunters was waited to sell when will unlocked, developers not response we are asked over and over how to claim in myetherwallet, even though BM also didn’t claim his token.                        

Agree, what needs to be considered in a new project is the team behind it. Many scam projects have a good whitepaper and also a roadmap that looks promising but what happens is that the project is detrimental to many investors

https://bitcointalksearch.org/topic/m.54309910


Oh some fake bounty hunter, I have checked you're one of the fake social media too
https://web.facebook.com/parvinmw 7000+ Friends


https://twitter.com/Meghna732 5000+ Followers



Are you sure? What about this account, he have crypto enthusiasts friends but still doesn't get many likes or comment
https://web.facebook.com/erfan.maulida.31


Not really, this account is share about crypto and still get many likes and comment, at least above than 0-2 likes
https://web.facebook.com/barry.line



How you can comparing not equivalent project?
Bitcoin (top 1 cryptocurrency), Binance (top 1 exchange), KuCoin (top 10 exchange), and HackenAI only rank 6718 from 7167 coin. These information I got from https://www.coingecko.com/

For many popular and trusted crypto/exchange they have their own traffic, because when you search on google like "best crypto,best exchange" you can simply got many blog/videos mentioning about bitcoin, binance and many other top crypto/exchange. I have checked binance usually create airdrop, the requirement is only retweet or share binance ANN and doesn't written "must 1000 followers bla bla". So everyone feel free even to use 10-100 followers account, and this can make people prefer to use his real account with real followers. How about other unpopular crypto likes HackenAI? You will never find any blog/videos about HackenAI if you don't type "HackenAI" on your google search.

Also both Binance and Kucoin is old project, they doesn't have a lot competitor in the past. For now, it's very hard.


Honestly, it's different case IMO... because what I explain above is bounty hunter cheated the project, not project scams the bounty hunter. We can't do anything for scams project unless give negative trust to the owner/team account in this forum. In other side, we can do more selective about choosing good bounty hunter in this forum. But, I think this can't be suggest to the next bounty because they will don't care about this. I only want to expressing my opinion about many failed project on Bounty hunter subjectivity

Let's stop believing the appearance of new projects, many of these projects are here for money only, they offer investors something that looks very real and legit looking but they have a wild plan to steal all along

This is such a good explanation about Bounties and worth reading,But i am also aware from the previous years in which there are some projects that reached the HardCap but yet turns up scamming the bounty hunters.
there is one example the JINBI project of Sylon in which the teams claim that they have successfully Hit the Hardcap but after years now?still hunters are looking for answer can you please explain how can this be related to those mentioned above?i think there is really some Groups that manipulating the community.

Thank you for this analysis and a classical case study. Well, bounty managers and project developers must insist on social media account audits to fish out spammers and scammers, and should be about 98% scores. If there is anyway they ca use any developed AI to eliminate fake accounts of bounty hunters, this will be very nice, with this, good projects won't be suffering from huge loses. I don't participate in social media campaigns because I don't have a heavy account, so I won't be able to get decent reward.

I think Bounty Hunter has a big impact if a project wants to promote project well-known to investors. The failure of a project is not due to Bounty Hunter factor but because the developer who is not focused on taking care project based on the roadmap. A good team also influences a Crypto project.

The current price is $ 0.009 and that is an acceptable price for new projects at the moment. And I also appreciate this project when they don't do other IEO rounds to raise money. The project has been listed and certainly in the future the price will be pumped vigorously

They havent finished sales on on the exchange. But still pushed through trading schedule, normally any project would extend another rounf if thats the case right? But they did not means funds are not really a problem with them.

Here they are trading now: https://oceanex.pro/en/trades/haibtc

Also with their main project hacken to proceed with their swap of hkn to hai tokens, investors of hkn will adopt hai trading position. So the market will shift to a new one. So its fine not to succeed or finished their IEO.

I think the hunters who joined this will still be able to have some profits.

indeed the developer team usually determines whether the project is successful or not and usually when there is a good project the support of the developer will be very important to make tokens can be registered at the exchange and have a high price or a stable price.

You are making a mistake and I think it is as regards about what you know about digital marketing.

Social media Bounty programs are not created for likes, Retweets or comments, it is solely for interaction and activity spread.

How do i mean? For example if i make a post about bitcoin, the post is spread across the Facebook platform and you cannot guess the number of post viewers.

If you think social media posts don't work, why do you think the likes of kucoin hosted a kucoinplay Bounty? Or why do you think binance requested a retweet to donate to covid19 because they know the imparts of social media in crypto currency

from my experience following the bounty that failed is from the project itself, if you want to join the bounty make sure the project is completely clear about their members, and make sure their tokens are listed in the exchange, if already listed, I think to join the bounty program is not a problem

Liking, sharing or commenting on posts by your friends on social media is subjective.
People have or know what they have interest in. If you post a crypto-related post on social media, even if you have a million friends, there will only be few among them that will like that subject matter called cryptocurrency. Except all your friends are crypto enthusiasts, but this is not so common, most especially on Facebook and Twitter.
So many people have real followers on their social media and not bots, so, @OP, you cannot make such a generalized conclusion.

Take for instance:
If I make a post of my graduation in school or wedding picture/video on Facebook, so many of my friends would like and comment. in fact, I can have thousands of like. This is because they have an interest in my achievements in life, particularly in those areas, but coming to crypto-related matter, hardly will I have up to 5 likes.
The most important thing is for them to see my posts and with constant posting and reposting, without spamming, it will start registering in their memory, which might make them have an interest in it later.

I think this depends on the different projects, there are projects that achieve success thanks to the bounty hunter promotion. There are also many projects that achieve success because their products are very good and welcome people.
Bonus campaigns contribute somewhat to the success of a project, but that is only a very small part and it cannot be completely decided.

crypto world can be a better place if all hunters are going to be like you  but the reality is not  .

hunters do also create accounts that mostly have fake followers too just for the sake of working on a social media campaign and promote some projects  for some coins   . those who have legit accounts with hundreds and thousands of followers are also less likely to accept such offer because they arent attracted on bounty hunting    .  bounty owners need quality so that their project can achieve a good impression too  .

Yeah, there are people who are hurting the bounties but that doesn't change the fact that there are people who are doing it decently as well and when the bounty fails, or better yet the project fails you can't pay anyone, which is not really the point of starting a bounty. Normally if a bounty starts, you have to give everyone a certain amount, allocate that much, and if they fail you have to pay that money, if you can't pay in your own token, pay up with bitcoin, because you owe them.

If you succeed, you already pay them anyway. If there are few people who are wrong at bounties, just do not pay them, if you fail pay everyone else and reject these, if you succeed once again pay everyone and reject these, there is no reason to pay the bad ones as well, but the good ones has to get money no matter what.

They still haven't finished IEO, but today I saw them listed at the Oceanx exchange, and its price is $ 0.01. So I think the team has enough money to develop the project without having to perform different IEO rounds to call for an investment budget.

LOL... can't put it any better than these. The promoters want everything for free and they want the quality as well. Things don't go on like that. If you want quality, then you need to pay. If I have a few thousand real followers, then I'll refuse any bounty campaign which ask me to post about the project 10 times a week. That is unless, they are willing to pay me a few hundred bucks per month. 

To be fair dude, a real account with thousands of followers (a.k.a legit paid shill) will charge you real $$$, and it's expensive. If the project doesn't have real $$$ to spend and only promised to give the only-God-knows-the-price token, you will expect fake accounts with fake followers. As simple as that

There have been many AI projects before that have been launched but still fail because there is no innovation in the future and AI projects are indeed difficult to date with technology I think there is still no success with the AI that they launched.

For the HAI project, they have been able to trade their tokens but do not know in the future because their IEO sales did not reach the target, meaning they lack the funds to develop AI.

Yet another thread which demonizes the bounty hunters. I don't want to say too much.... but bounty hunters have become the most convenient scapegoats. If a bounty project fails, then in 99% of the cases the reason is because the idea was not very good, or because the promoters were not working hard enough. Bounty hunters can popularize a project only if the fundamentals are strong.

After countless ICO projects scam that happened here most bounty hunters are being immuned on fraud projects. It's just sad that today's bounty isn't worth to try knowing that it has a high percentage of being a scam project. Losing the trust of investors makes the investment offerings difficult to reach their cap because of the bad cycle happening in the ICO world.

It's not just about marketing, its also about the project whether its purpose is feasible and will have a use for its community. AI isn't the greatest by far that can work for all technilogy in the future. When its AI, it does mean AUTO, and when its auto its usually faulty.

Bounty participants have to really give something out for the project as well. You can't just keep reposting and posting because you have the channel, at least do something like finding a real audience,.

It is true that it is impossible that the reason I participated in the promotion of the project was the failure of the project, because many projects still survive and have a rewards and airdrop program. so the op reason doesn't make sense.

actually it doesn't hurt if the bounty hunters feel angry or complain about the project they are taking part in. because we have seen that most ico projects are fraud. but all this goes back to themselves, I mean those who research, determine and follow the project of their choice, then on the contrary they must also always be prepared to accept any risk or consequence. well this is life in the crypto world.

Just to clarify something, if out of the carelessness of the project hiring an inexperience manager which doesn't have an experience probably from managing past campaign in combating fake hunters (fake accounts, followers etc) then you go punishing everyone for the mistake of the manager by not distributing the bounty reward as promised prior to them promoting your project, that marks the beginning of your failure in the industry as it takes away trust from the developers of the project.

There's no excuses if your project fails after all the funds you have raise, bounty promoting are to create awareness and this fake accounts can easily be identify especially when the account are been audited. (E.g twitter audit). The success of a campaign begins from employ a qualified manager that'll be ready to work with all his heart to bring about a better promotion for your project.

PS: project fails due to lack of authenticity, poor fund management and planning don't blame it all on the bounty hunters although they also contribute.

It is true the project's mission and vision and the team's dedication is an important key to success, but I encounter projects with potential before not reaching at least softcap it ends up a failure, this is only applicable on projects that started from scratch and no budget at all. Now I notice most projects that success has initial funds or have been supported by private firms but of course, they have a good product or idea and marketing strategy.

Projects fail because they lack product and good management. Reaching softcap or hardcap does not determine the success of any project. When projects do not provide any form of solutions to life they don't tend to last. Any project who also fails in the area of marketing does not succeed as well. Having a good product and marketing makes a project successful because most raised funds are not necessarily needed. For instance a project is building an app, has scheduled to raise $10m from IEO. What sort of app can be developed with such a high amount?

I don't mean all the bounty hunter joining a project will not successful. Like I said, there are 2 way to become success project, by marketing and promoting. If promotion from bounty hunter doesn't attract investors to invest in their project, they still have a marketing strategy. Both team and developer should work very hard to make the project is interesting, unique, have good convincing skills etc to attract the investor.


Yeah I only pick random project to give some example of fake social media account who join the bounty. But, I found a thread HackenAI is failed to sold his token Hacken ai IEO failed


That's will be a long project, because you should open one by one a thread in bounty section (currently we have 12946 Topics) and search more about the project in scam acussations or reputation to make sure the project is scam or not.


IMO, even if they have a many amount tokens but there are no demand about the tokens. They only have a shit token with no value and got nothing for it. I will say, they will ignore my thread and keep using their fake account because they only think about getting tokens as much as possible. Using fake social media account and cheating using many accounts, that's user can't be cured... it's his habit.

Basically, at the end of the day, there are a lot of bots doing the job of bounty hunters to market the project that ends up not getting the right exposure towards the market. Most of the accounts used have fake followers or followers that are also for bounty and ends up just exposing to other bounty hunters that are not going to invest in the project.

I think you have explained it well in a sense. You forgot to mention that some projects distribute their tokens but end up with no value and can't be traded. All the effort you made by advertising it or the bounty requirement is put to waste.

That's what we have now, for sure.

Weldone for the critical observation. I will start from the point that - many project when they couldn't make enough of their targets forget and deprived bounty participants of their token. And what happens to whatever they have gathered?. Shared among managers or kept?  And how do you expect bounty participants to trust you next time. Even if the token is not enough to distribute at the promised rate, there should be a message of apology on wasted time, money, effort.

There have been series of bad bounty projects or even fake projects that paid bounty hunters very well before exiting scam, for example miracle tele, as a bounty hunter I'm much into my payment for promoting projects, whatever happens later on is not my business

The basis of some campaign which becomes irrelevant are the higher the followers/subscriber the chance of marketing, actually its true but the problem lies on the numbers of friends or followers who are active or legit users. Of course the goal is to let other know the project thats why they reward the higher the subscriber or bigger stakes.

They dont sometime concern about the comment or like since their goal is for viewing. A small chance of crypto person will still help some to heard or see whats about that project and thats the power of social media.

Your example hackenAI is not a bad project I think.

It depends on the project maybe those you seen successful are the one who create a good marketing strategy and release more money just to make their project reliable, but we cannot deny the fact that even up till now we can see those fallen projects and statistically there's more failed than success since mose of the project right now are scams.


But I will not agree with OP that we shouldn't assume that the project we join will not successful since if that's the case I will not any of those since we are wasting our time and for sure the reason why people join in certain bounties since they believe that they will became successful and earn with them.

Do you know bounty? I think everyone definitely knows what it mean. In short, bounty is a payment after completing a task from someone project. There are many task have been offered on some project, like the twitter campaign, facebook campaign, ANN translation , youtube campaign and many more. You will got stakes (total shares) every week and after complete the campaign (usually 1-3 month) you will get the reward from developer or campaign manager.

For many users, I think it's what you know about the bounty definition, how to join and how to get it. Most users register this forum only to join bounty campaign.
The reasons :

• No need to learn about bitcoin or altcoin, brand new or new comer can join
• The task is simple and legit (have been proven on many other bounty hunter)
• Get invited or attracted on youtube videos

Actually, the full definition about bounty is

Bounties are rewards in tokens that a cryptocurrency/blockchain project gives away after a user successfully completes a certain task. The tasks can vary and we’ll talk about them later in the post, so stay tuned. Crypto bounties showed up on the stage as a marketing tool that helps startups to promote their projects. Since most tokens are based on the Ethereum platform, you’ll need an active Ethereum wallet to receive your reward. Source

So, as we can see the purpose of bounty program is "promoting their project". Every single campaign you join and completing the task, you're promoting their project to you friends or investors to buy their token to reach Softcap or maybe Hardcap


A project who reaches softcap usually has potential to be a good and success project. This will make many more investors is attracted about this project and invest it more. Even reach "softcap" is not always make the project is good or successful, but at least it's made the bounty program is successful. What if the project doesn't reach softcap? This means the project is unpopular and doesn't have many investors. Why the project doesn't have many investors and not popular? It's because the marketing and promoting of the project is not good. Who is the marketing of the project? Developer and team, Who is the promoting of the project? Bounty hunter

Honestly, I didn't know what the problem behind of marketing in the project, maybe unprofessional team or scam project/team. But, I know what the problem about the bounty hunter why didn't get many investors. The problem is "Many bounty hunter using fake facebook, twitter, youtube etc to promote the project". I can say like this because most of their social media is using auto follower to gain maximum friends/followers for getting more stakes (reward). The friends/followers is not a real human, only a bot... Does bots know how to invest on your project?

According to the forum rules, Does using auto follower for social media is prohibited and violate forum? No, there are no rules about this case. Does this violate the campaign rules? No, they haven't written about this. But, if you keep doing this while participating a bounty, never hope your project can be successful and have valuable tokens.

I have checked the HackenAI spreadsheet here https://docs.google.com/spreadsheets/d/1SvCHzzfhHa4TPHSn-XC2ADsCOSbgFrunDx5iyK8vsuY/edit#gid=1916942513

If you check their facebook or twitter, they have a great amount of friends from their account like 4500++. But if you visit the account and look their post, they never got many likes and comment from his post (Mostly 0-1 likes and 0 comment). The friends number and the likes/comment are very not equal. Thinks logically, does 4500 friends can't likes (at least 10 likes) to your post? and got 2-3 comment?. In my experience even I'm not popular and only have 1200-1500 friends, I still get around 15 likes and 1-2 comment to each post in my facebook account

Furakare Facebook account https://web.facebook.com/afif.kurniawan.96199



J0hns Twitter account https://twitter.com/Cryptoomist



Okolie1 Facebook account https://web.facebook.com/echeozor.barthson



I make this thread because there are so many people is complaining about the failed project, bankrupt, and doesn't distribute their token to bounty participants. They're mad and disappointed from failed project, but they didn't "aware" what he do to their project. If my explanation about bounties etc is wrong, you can suggest to correct it.