FIAT rewards for bounty hunters. - page 18.

Tylev

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Quote from: husanlarisa on June 27, 2018, 12:23:40 PM

Hello all members!
I am a bounty hunter, as well as many of you

And I heard that bounty hunters dump the coin price at the ico end.
So I was wondering, if the team doesn't want its coins to be sold on exchange date and thus be dumped, why they reward bounty hunters with their token, not FIAT.
Because they anyway accept fiat for selling the tokens, so the coin won't be dumped by bounty hunters, and bounty hunters are satisfied too.
Because those who need money, they have it, those who want tokens, can buy it at exchange etc.

Fiat is simply technically and institutionally impossible to pay to the members of the ICO generosity campaign, even if the ICO team would like to do it. It will be easier to pay bitcoin and ethereum. It would be especially good in this case to pay the ethereum, and the participants in the generosity campaign could be given the right to choose what to receive payments for their services - in the released tokens or ethereum. This could be indicated in the form when joining the ICO project. Here even the purse address would be the same. However, they are unlikely to want to take such a step in the ICO team, it is not profitable for them, they are trying to sell their produced tokens.

carlfebz2

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Quote from: husanlarisa on June 27, 2018, 12:23:40 PM

Hello all members!
I am a bounty hunter, as well as many of you

And I heard that bounty hunters dump the coin price at the ico end.
So I was wondering, if the team doesn't want its coins to be sold on exchange date and thus be dumped, why they reward bounty hunters with their token, not FIAT.
Because they anyway accept fiat for selling the tokens, so the coin won't be dumped by bounty hunters, and bounty hunters are satisfied too.
Because those who need money, they have it, those who want tokens, can buy it at exchange etc.

Good idea but this thing wont easily happen or not at all!

Bounty allocations arent too big for them to worried about such dump 1-2% max wont really make a great impact on price dumps but rather i do believe its investors are the real dumpers. They wont tend out to pay up on fiat even though bounty participants will just sell out their coins. Profits would be mainly affected and if i were part of the team i wont give out profits and secure it by myself.lol

webtricks

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Quote from: husanlarisa on June 27, 2018, 12:23:40 PM

Hello all members!
I am a bounty hunter, as well as many of you

And I heard that bounty hunters dump the coin price at the ico end.
So I was wondering, if the team doesn't want its coins to be sold on exchange date and thus be dumped, why they reward bounty hunters with their token, not FIAT.
Because they anyway accept fiat for selling the tokens, so the coin won't be dumped by bounty hunters, and bounty hunters are satisfied too.
Because those who need money, they have it, those who want tokens, can buy it at exchange etc.

It requires zero money to create a token so it is always easier for projects to apportion a part of total supply to bounty hunters than giving FIAT because no one can guarantee that ICO will actually raise anything. However not all projects do this. There are several projects that spend FIAT or Bitcoin/ETH for bounty marketing that even before raising anything. So now it becomes a parameter to determine whether a project is really serious or is it just another shit token project. If projects spending money on marketing then its of former kind but if it just spending its token that mostly it is of latter kind.

Malbaunti

member

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Yes, because ICO is a fundraiser for project implementation. Many projects don't have the money to pay you. Since the project is not working yet. It takes time for the project to start making a profit.

zebrabounties

newbie

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This idea seems fine, but it is not applicable by the team members of the projects, it seems hard so

Granit0

member

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That's great idea. It would be good if the team had money for its implementation. The ICO is to be held in order to raise money. If the project team had cash, there would be no need to conduct an ICO.

tillerthekiller

newbie

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Yeah not a bad idea actually. I would imagine that funds are tight on smaller projects though.

boyshx

sr. member

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Merit: 251

Thats because they dont have money! Well, that is the reason they have the ICO fund raiser. So that they can raise the money for various purposes including the marketing stages. Where as bounty is considered as part of marketing and they always allocate X % of that fund to be given to them. This way they secure rest of the money and dont get into loss even if the bounty hunters dump their token. If they were suppose to pay you in fiat then they will have to give that money from their pockets. This is because they can not exchange their raised ETH or BTC to fiat as it will break the chain of funds as soon as they convert it to fiat. They will be questioned by the banks, regulatory bodies and it would eventually will become very complicated. May be thats why they wont go that way.

bawa_23

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Bounty team will never pay you with fiat money for providing services, because if the company pay you in fiat in case of failure they will loose fiat mone and in other case they will not loose anything, only coins. We are heading towards digitization and with techlonology upgrading crypto currency will be future currency, so it is better to have coins whether it is altcoins, ETH or BTC.

Tambu

jr. member

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Most of the ICO have no fiat reserved. ICO is made to make an initial amount to kick off the market. If Fiat for bounty hunter it will bankrupt the ICO. And the other issue is you need to reveal yourself to get the fiat. Requirements today to transfer a fiat is a lot.

kindbtc

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I will somewhat agree with your suggestion, best case scenario would be that the bounty campaign should give the option while filling the form if the participant want to be rewarded with tokens or eth/btc. So that everyone can take the best option according to hos needs and strategy.

pey

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It is not possible, because most tokens worth nothing after ico and they are basically worthless this is why they pay with tokens instead of usd. USD is real money tokens are not.

onnz423

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One of the major issues would be you would need to provide your financial payment details to these ICOs, and would you really trust them with this? Also, the payment processing fees would be quite considerable, particularly when summing the IBAN fees or Paypal fees that would be necessary for this, and the time cost for manually sending all of these payments. Also, the major reason is they simply don't want to pay real money, hence why they offer their tokens.

AgentZero23

member

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I don't think it will be a good idea. Because it will take a lot of resources in sending fiat to every bounty hunters. That's why we have this digital currency to eliminate slow transactions. But i would definitely looking forward for an eth payment for a bounty program.

melamiras

member

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It not a bad idea. Anway it is funny how the teams take advantage of the heavy publicity by bounty hunting and then they complain that BH sell too early.

Wildskull

newbie

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The idea is very good, but very not many creators of cryptocurrency will agree to such conditions. Though it would save the market of cryptocurrencies from a large number of swindlers. But also and not all hunters will be glad to receive FIAT. There are people who hold tokens for years before his growth.

Isaythebitcoinbitch

newbie

Activity: 36

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a team will never pays you in Fiat money. because paying you in cryptos represent an advantage in terms of costs...
and don't worry, the price doesn't go down because of few bounty hunters dumps.
Price goes down because of other factors, you should worry when team members dump the coins of the project.
if they want to do so, you should dump the coin too... imho.

BillCoin

sr. member

Activity: 476

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You should think as a company- it's like paying with stocks instead of fiat to people who provides you services.
If your whole company ends up to be a failure,you will lose money because the people who received payments for you received it as stocks so you don't really lose extra money.

To summarize, you minimize your risks by paying people with their tokens instead of real money, from the company's view.

In the people's aspect, if they do trust the company that offers them the bounty and beilieves in it, they won't really mind to get shares instead of getting real money.
Not a big deal for them I guess.

Dart18

sr. member

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No way that could happen.

They'd rather risk it by letting bounty hunters get a part of their coin. There is no guarantee they will hit a large equivalent of USD with their token that is why they just give it like that.
They want ETH and BTC. Why? There is guarantee with that. They will never try to exchange those just so they could pay their workers which they dont even know who. Grin

cryptoking33

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Quote from: husanlarisa on June 27, 2018, 12:23:40 PM

Hello all members!
I am a bounty hunter, as well as many of you

And I heard that bounty hunters dump the coin price at the ico end.
So I was wondering, if the team doesn't want its coins to be sold on exchange date and thus be dumped, why they reward bounty hunters with their token, not FIAT.
Because they anyway accept fiat for selling the tokens, so the coin won't be dumped by bounty hunters, and bounty hunters are satisfied too.
Because those who need money, they have it, those who want tokens, can buy it at exchange etc.

Paying bounty hunters in fiat might be a welcome idea for those who can exchange their fiat very easily when they are paid. However some of the bounty hunters might want to own the tokens of the project especially if the project is a good one. Also the idea of paying in fiat will help solved the issue of dumping.

Topic: FIAT rewards for bounty hunters. - page 18. (Read 1603 times)