Your opinion is not that bad, it is safer compare to holding the shit tokens as escrow because it will remain shit tokens if there are changes that they are going to make in their smart contracts.
But as of this moment, I cannot see any further improvements to bounty rewards because escrowing the bounty rewards is not yet mandatory therefore it is still very difficult for us to ask this kind of requirement to the project owner where we require them to provide an escrow that has a USDT value.
Topic: How can one make effective use of the Excrow? (Read 266 times)
Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.
Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.
But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.
So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..
Your suggestions?
Not all new projects team will accept to use escrow for their own reasons and that won't stop them from paying bounty hunters too, if you are a bounty manager and you are forcing new projects to use escrow they will find other bounty managers and you will keep missing high quality projects Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.
But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.
So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..
Your suggestions?
I will always choose to follow reputable bounty managers instead of looking for escrowed bounties, most escrowed bounty campaign I've seen are not up to standard of high quality projects so escrow isn't a must to me, if you can send some time to do research on projects that introduce bounty campaign since 2019 you will see that only 3% of them used escrow
if they do this, then the first thing they need to do is replace the existing coins in Escrow. however this was avoided, in the end the team had to pay the token they promised. if they do this without a reason and solution, then it is certain that the project will not last long. Well, several projects have implemented the same thing, even changed their tokens, and in the end nobody was interested in such a project.
I agree with your suggestion for Escrow, maybe this can be done if there is Escrow who is truly trusted to be the third person to save funds from the project that is being campaigned, so that the project owner who creates the campaign cannot be separated from the project they are working on or change what has been determined so far. But I see that currently all projects campaigning for their projects are no longer using Escrow, even though using the Escrow service is very important for the trust of all investors and bounty hunters, because by using Escrow there will be no more fraudulent projects.
Is escrow the answer to bounty problems? It's like calling all new projects scammer cos they can run away without paying, I'm not saying scam bounties don't exist but there are many good projects that will reject escrow offers from bounty managers that demands such, I'm satisfied with bounty results this year as many of them paid without using escrow
Escrow guaranteed bounty payments but there are other things that makes escrow useless like ..
1. The project team can still change smart contract if they want
2. The escrowed token can become pennies before hunters can sell on exchange.
3. Before bounty campaign ends the project can exit scam, making the token worthless and useless
1. The project team can still change smart contract if they want
2. The escrowed token can become pennies before hunters can sell on exchange.
3. Before bounty campaign ends the project can exit scam, making the token worthless and useless
Escrow system is an effective way of guaranteeing the payments of services rendered by the bounty hunters in promoting such projects and it should be mandated every bounty managers should apply that. Even on escrow, still team can decide and tell managers when to distribute the rewards and some team are very clever that find ways just to bend rules in order to delay the distribution. If both parties between managers and team is sincere to give rewards without conditions, then it will be an effective escrow system.
Escrow is very safe now and I think yes it's better to have escrow on every bounty campaign with USDT because it is more safe.
The more bounty campaign who have no escrow the high possibility for the others to not getting paid.
Once a project are scam mostly participants of the campaign will suffer for sure so escrow is the answer of that.
Very safe is not really the right term when escrow is still being hold or secured by some stranger that we don't really know of. I'd say if there any instance that's ready to offer an escrow service while also providing the legality of their services under law then it can be called "Very safe". However, having some escrow that already trusted and have many histories is already good enough and suffice I guess. The more bounty campaign who have no escrow the high possibility for the others to not getting paid.
Once a project are scam mostly participants of the campaign will suffer for sure so escrow is the answer of that.
Yeah, you’re right I have experienced such a thing once. I received a token to my Trust Wallet and I have been holding it there for sometime without checking my Trust wallet, and when next I decided to login and spend some tokens there I discovered that this particular has been changed and the amount I have of this token was then worthless and showing $0.00. It’s been long they have been doing this nonsense and it’s pretty much annoying.
USDT is a better option for escrow, I don’t agree with comments here that are saying ETH and BTC, those two are volatile and can fall anytime, it’s better they use USDT and when you get yours you can decide whether to put in BTC or ETH or not at all.
USDT is a better option for escrow, I don’t agree with comments here that are saying ETH and BTC, those two are volatile and can fall anytime, it’s better they use USDT and when you get yours you can decide whether to put in BTC or ETH or not at all.
how many Escrowed projects become successful since 2018 if I may ask you? All popular successful bounty projects since 2018 never used any Escrow, it's totally useless to me
I can't say how many Escrowed projects become successful since 2018. But can you tell me how many projects have not paid Bounty Hunters even after being successful since 2018, if I may ask? I think it is a right of Bounty Hunters to get paid at the end of a Bounty campaign, and Escrow ensure that right of Bounty Hunters.
Many new projects will end up walking away from any bounty manager that ask them for escrow and find other bounty managers that don't give a f*** about escrow, how many Escrowed projects become successful since 2018 if I may ask you? All popular successful bounty projects since 2018 never used any Escrow, it's totally useless to me
Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.
Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.
But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.
So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..
Your suggestions?
I agree with the escrow part but getting paid in USDT? No I don't want that because tokens are more valuable than USDT unless you promote a crap project that have no good utility which will never attract good investors or raise enough money for development, we all have different skills of doing research, I believe in my own skill, USDT is not for meOf late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.
But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.
So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..
Your suggestions?
I don't care about escrow, 99% of projects I promoted this year are not Escrow and they all paid what they own bounty hunters, it's not a must to promote bounties, if you don't see a high quality project just wait until a good one comes, don't take unnecessary risks with projects you aren't certain that will be successful, If you know how to do good research you will easily identity promising bounty projects
Well 99% is a good credit score... Who many projects make up that 99% and how many have been successful in the market, lets consider that and can you give us some names? CILPX was having potential but they pull a rug before anyone notice Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.
Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.
But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.
So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..
Your suggestions?
Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.
But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.
So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..
Your suggestions?
don't have to. because if there is such a problem, the proceeds from the sale of tokens are still in Excrow's hands. So whatever the project team does they get nothing. so the project team doesn't have to provide any kind of collateral like USDT or any other stablecoins. they just pay the Excrow service fee.
Escrow is good but not a must, you can even miss many good projects if you force escrow on new projects because I've heard few reputable bounty managers complaining that even high quality bounty projects don't want to accept Escrow, the moment they talked about Escrow the team will stop replying and find another bounty manager that don't care about Escrow
That too is very true, but it also depends on the credibility of the bounty manager on these Bitcointalk platform that makes this investors believe in the bounty managers and also allow free flow of communication. Well mostly some excrows can be trickish if they don't have the credibility 
OP is having problems and troubled by escrowed funds held by third parties such as bounty managers because the owners of the token themselves change the smart contracts of their own tokens. That means previous tokens are becoming useless and worthless. So it somehow makes the use of escrow useless as well.
That is indeed a curious case and important question and I guess the only possible answer is by providing the escrow with equal amount in USDT or some other stable coin such that in case the escrowed tokens are taken back by fancy changes in the smart contract they can at least pay the bounty hunters in USDT and compensate for the loss.Is there any case of such happening? I haven't seen this happen anywhere but this is a good question and want to see if this ever happened and more importantly how it was tacked if it happened in past. Please share the link for any campaign where this took place if you know any of them.
I wish bounty campaigns just pay us solid USDT instead of tokens because that's the safest way to say they are legit and will be honest to pay us bounty hunters. If they somehow really change the smart contract without informing everyone, then that proves they are scamming people and should be avoided.
I hope so but this will not happen as project owners who decided to conduct bounty paid with tokens have no enough funds to pay for marketing thats why they try bounty which is cheap with no payment from their pocket just a worthless token with an estimated promise price but in reality its -80% when you exchange it at the end of bounty.
Escrow is very safe now and I think yes it's better to have escrow on every bounty campaign with USDT because it is more safe.
The more bounty campaign who have no escrow the high possibility for the others to not getting paid.
Once a project are scam mostly participants of the campaign will suffer for sure so escrow is the answer of that.
The more bounty campaign who have no escrow the high possibility for the others to not getting paid.
Once a project are scam mostly participants of the campaign will suffer for sure so escrow is the answer of that.
Escrow is good but not a must, you can even miss many good projects if you force escrow on new projects because I've heard few reputable bounty managers complaining that even high quality bounty projects don't want to accept Escrow, the moment they talked about Escrow the team will stop replying and find another bounty manager that don't care about Escrow
It is up to the bounty participants to get this problem solved because if everyone decides they will not take part in campaigns that do not have an escrow involved then the project managers will have to hire one and that is the right way of doing it.Bounty managers can only help participants if they are ready to bring the respect to the manager by not taking part in bounty-campaigns with no escrow.
Coming back to the topic, yes there can be manipulations in the smart contracts but how will the token do well in the market then after scamming so many participants. I mean they will bombard the social media with negativity and expose them making the project dead.
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