Topic: Bounty hunters risk on ERC20 tokens in ICO - page 7. (Read 10496 times)
We need more regulation in ICO and cryptocurrencies. Any company for sure could do that.. and they do that. When You send ETH to someone for erc20 tokens, that means that your assets in other hands even if you have this erc-20. Just gambling, never know.
I don't know if everybody knows this, but there is now a risk in getting involved in ERC20 based ICO, and that is they are locking bounty hunters rewards after they've sent it to their bounty hunters,
So even if the coins are already sent to your wallet you really don't own it, because they can lock it anytime at their whims that's what happens to Dexage and Liker, they sent the tokens to their bounty hunters then lock it, so they will not dump, and will only unlock it maybe after they dump all their shares and run away.
what's your take on this bounty hunters?
Usually at first or maybe in page 1 there are mentioned that bounty reward will be locked for certain time, if the dev really want to do it. And for me if the project really good i think no problem if must wait. So even if the coins are already sent to your wallet you really don't own it, because they can lock it anytime at their whims that's what happens to Dexage and Liker, they sent the tokens to their bounty hunters then lock it, so they will not dump, and will only unlock it maybe after they dump all their shares and run away.
what's your take on this bounty hunters?
That's the important of reading such instructions before joining a bounty campaign. If you know that they are doing this then don't waste your time in participating, simple as that.
Most of the bounty campaign participants would convert their bounties to their desired altcoins after an ICO releases its token or available for trading and that was long overdue so if new ICOs change it this way then goodluck to them in getting a good campaigns.
Most of the bounty campaign participants would convert their bounties to their desired altcoins after an ICO releases its token or available for trading and that was long overdue so if new ICOs change it this way then goodluck to them in getting a good campaigns.
If they are going to announce it before the start of the campaign, nobody will join that campaign, they are good when they are starting the campaign, but after that, they change the rules to often, that one-year locking is too much I don't think that has the intention to unlock that token anymore.
That's right and very sad, I also found these two projects, menapay and jarvis. Both of them lock reward bounty hunter and especially menapay who cut the reward allocation when the distribution wants to start, very badly. Indeed their developers have reason to do it, but they should announce it when the campaign starts and is announced in their bounty thread. So that there is no commotion, loss and disappointment that will be caused.
That's the important of reading such instructions before joining a bounty campaign. If you know that they are doing this then don't waste your time in participating, simple as that.
Most of the bounty campaign participants would convert their bounties to their desired altcoins after an ICO releases its token or available for trading and that was long overdue so if new ICOs change it this way then goodluck to them in getting a good campaigns.
Most of the bounty campaign participants would convert their bounties to their desired altcoins after an ICO releases its token or available for trading and that was long overdue so if new ICOs change it this way then goodluck to them in getting a good campaigns.
This is not the first time it has happened. I also have an erc-20 token called NST (now AIV) which I got as a reward from bounty. It's been locked for over a year already but I have no complain as I see the project moving forward. But yes, I also see the risk you are referring to.
Most of the project given reason for lock bounty rewards is prevent dump the tokens price by bounty hunter, as a bounty hunter also can't do anything because team always change the rules without permission, it's risk because some of them will run away before tokens unlock, but not all the project will become scam.
Its an ERC token so you could have demanded to be sent in your own ether wallet but if its sent to a platform where they can sent the bounty hunter's fee then its going to be a terrible days for you specially if they ran away already. ICO are now only for scammers, IEO is the new way now. This may also change in the future, God knows what they can invest yet its all the same thing.
That's not good for bounty hunters, the team changes the rules after the campaign is over, this is to delay the distribution of the tokens.
Maybe they are just doing it to avoid dumping but they should not violate the terms they previously implement, it's a big bust on their reputation, investors will surely look at it, and might affect the future of the project in a bad way.
Maybe they are just doing it to avoid dumping but they should not violate the terms they previously implement, it's a big bust on their reputation, investors will surely look at it, and might affect the future of the project in a bad way.
They offer unlocking time for bounty tokens. So if at that time the price of the token increases more than the current number. Do you think like now?
and will only unlock it maybe after they dump all their shares and run away.
I realize it could be done to devoid bounty participants of rewards. But not all projects are scam and it could be a good move to stabilize the price before completion of the roadmap. ICO takes money to start a business and if people start selling their tokens before the business yields profit, the price of the token may crash. Locking can be misused but it's a good tool to check the price of token and stop it from crashing.
Well Dexage lock their token for 6 months, damn after so many months of waiting, Liker is unlocking a small percentage and this could take years to fully unlock all, this rules is only meant to discourage bounty hunters to participate, the worst thing that could happen is they unlock with them nowhere around and the value of their coins is zero, bounty hunters will become the laughing stock.
and will only unlock it maybe after they dump all their shares and run away.
I realize it could be done to devoid bounty participants of rewards. But not all projects are scam and it could be a good move to stabilize the price before completion of the roadmap. ICO takes money to start a business and if people start selling their tokens before the business yields profit, the price of the token may crash. Locking can be misused but it's a good tool to check the price of token and stop it from crashing.
I don't know if everybody knows this, but there is now a risk in getting involved in ERC20 based ICO, and that is they are locking bounty hunters rewards after they've sent it to their bounty hunters,
So even if the coins are already sent to your wallet you really don't own it, because they can lock it anytime at their whims that's what happens to Dexage and Liker, they sent the tokens to their bounty hunters then lock it, so they will not dump, and will only unlock it maybe after they dump all their shares and run away.
what's your take on this bounty hunters?
So even if the coins are already sent to your wallet you really don't own it, because they can lock it anytime at their whims that's what happens to Dexage and Liker, they sent the tokens to their bounty hunters then lock it, so they will not dump, and will only unlock it maybe after they dump all their shares and run away.
what's your take on this bounty hunters?
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