Topic: How to not waste time with terrible bounties - for dummies - page 3. (Read 553 times)

Even the best of ICOs could fail. What I did not implement (my bad, it is pretty important) is being aware of x% of collected money oging to bounty. This can lead to clsoe to nothing... If the bounty gives 1% of collected funds and ther fund only 1M, 10 000$ for all the bounties will lead to just few bucks...

Most of the ICOs will lead to loss, but in the bounty program, all you are risking is your time. Now I am always taking into account risk vs reward. If i am risking 10h of my time for good amount of money, I am willing to take the risk. Also, I have seen sumamry from the last year. If you would invest in ALL the ICOs last year, the failed one including, you would still be 13,5x profiting. Now what I am trying to say is, if a person does due diligence properly and participate in 10 ICOs at a time for example, at least 4 should be good, 2 average and 2 bad and 2 terrible. All in all, that person should still be profiting nicely.

What if after reading the whitepaper and joining a bounty with a reputable manager, you get nothing? why would a bounty campaign pay you more than what you could get from a signature campaign?

What would you do if their ICO couldn't collect money? you would join another bounty?

Join my bounty for activity token, if I could sell them, I'll pay you $160 per week for just mentioning the name of activity token 3 times per week and sliding the asset identifier 2 times per week. (note that I need to collect enough money for myself first, because I spent 1 facking Waves on issuing the tokens, I should at least get $50,000 just for doing that, cost of development).

(note again, that coding shouldn't cost a coder any thing, if you find a project team are asking for money to write the codes and then hope for adoption for the price to increase, stay away).

Hmmm, you are right with the bounty manager! But the thing is, actual bounty manager can have a team of helpers. I usually try to find head boutny manager through Telegram and chat directly with him about everything. Sure, if the initial ANN thread and Bounty thread is posted by anything less than Sr. Member, i have my doubts too.

A very informative thread like this deserves a merit but for give me for I still do not have one. Thank you anyway that it had come to your mind to post this helpful information. May you never get tired of posting more articles that can help our crypto brothers and sisters with our journey towards successful bounty hunting.

Another important factor is to actually pay attention to the Bounty Manager. Is it a Newbie or Jr.Member, or a well known Bounty Manager from BitcoinTalk which has been holding other Bounties in the past and has a reputation for himself.
Another hint could be the hype around the project.

Hello everyone,

As more and more bounties are giant waste of time, I decided to write up a summary of how to choose a boutny correctly. For dummies. As anyone with some experience already knows this. Most ouf us, boutny hunters got burned at least once. I want to help prevent that.

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Step 1

Read the white paper.

I mean it, READ the frikin' whitepaper.
You can tell a lot from whitepaper. Does it sound familiar? Is it ultra impossible? Is it just plain shi... shinny pile of crap?! AVOID IT!

There is no reason to waste good amount of your time with an ICO bounty without really interesting, reasonably long and creative whitepaper. Any good ICO will take their time and produce quality, mistake-free and polished white paper.

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Step 2

Check your possible income.

This might seem like a no-brainer, but I have seen not one too many, but TWO too many people wasting their time for really, REALLY low reward. Why would you waste X hours of your time for 10% of a reward you could get from a different ICO?

Know your price. You must know how much you value your time. To get the expected income, you need to know the following:

• Total coin supply
• ICO price per unit
• Price per coin of similar project
• Expected coins per stake

I, personaly, avoid bounties with set amount of coins/tokens as reward. Well there might be some exceptions, if the set reward is high enough, but there is a problem of authors knowing exactly how much they are willing to pay you. But if you go with the route of stakes, you are likely to get much higher reward. If the authors are willing to give 100 000$ for translation bounty, and you end up being only 1 of 20 participants in this ICO, your reward would be much higher than, let's say, reward of 60 000 tokens worth 0,01$ each.

Total coin supply will tell you, how could the coin/token grow after the listing. Coins with really high total supply will msot likely drop like and apple on Newton's head after listing. So try to participate in the bounties of ICOs with low total coin supply.

Check the spreadsheet before going in, if there are already 1 zillion people liste for the bounty you are interested it, it might be too late to accumulate enough stakes for you and you would get only a little reward. Also check the spreadsheet even after pariticipating regularly and divide the total bounty with already given out stakes and multiply it by your stakes. Count if this ICO is still nicely profiting one, or if it just became a waste of time.

Similar projects might give you an insight into the expected price after the listing.

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Step 3

Admit a mistake.

Everyone makes mistakes. You are everyone. Don't be stubborn, get out of failed bounties, save your time, get yourself an ice cream as a consolation prize.

If in the process of working for some ICO in a boutny program you figure out, that this ICO is a fraud, stop working for them. It is that simple. Do not promote thiefs. Don't let other people get robbed by terrible ICO, which will jsut grab their money and disapper. Take the loss like a human you are (see? gender neutral!) and move on.

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UPDATE
Thanks for great feedback. After reading through comments, i decided to add an update with step 4!

Step 4

Check the bounty manager and the team.

If the ICO is managed by newbie or Jr. Member bounty manager, you might want to avoid it. Try looking at the past projects of the bounty manager. Were the projects successfull? Does the bounty manager has great positive feedback? On the other hand, if he is negative-trusted, avoid him completly. If the past projects were really successfull, you can be pretty much sure, that you will receive the promised reward.

Also you can see the team behind the project msotly around the end of a whitepaper or on the website. Check their previous experiences. Google them. check their profile pictures, if they are taken from the internet or if they are genuine. Do you due diligence, don't be lazy!

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Those 4 steps are the absolute minimum you need to know before and right after getting into a bounty program. I hope this article will help someone. Until next time, BYE!