ICO bountiess are a hazardous threat to the value of Bitcoins and Ethereum. - page 2.

Kakmakr

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This is not entirely true, because not all Bounty hunters are selling their tokens. I still have several tokens of ICO's that looked promising at the time. Also, not all Bounty hunters dump their tokens at the same time, they might wait for higher prices and better returns, before they decide to sell.

These Bounty campaigns are a necessary part of the whole ICO scene, because it is the most effective marketing strategy to advertise your project. Until better marketing strategies are found for these projects, people will just have to accept the results. Undecided

Rustamm

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Quote from: mklost on October 05, 2018, 06:35:13 PM

I totally disagree with you mate. Though I am a bounty hunter replying to this thread, because Your idea about bounty hunter is not well. Most of the hunters are not a dumper now, they are holding many coins. I can ensure you, if you check bounty hunters wallet then you will see they are holding some good coins. And the real truth is, Bounty hunters are becoming ICO investors too, they know which project will be good or bad! And Presale investors, Miners are dumping coin and Bitcoin. 1% Rewards you seem very big and they are dumping lots of bucks? You are wrong here.

I fully agree with your arguments. The bounty hunters used to be blamed for the fall in prices of new tokens, which for the first time hit the exchange. Now they are to blame for the fact that they lower the cost of bitcoin and ethereum. In my opinion, this is too much. And all due to the fact that bounty hunters receive from one to several percent of the produced number of new tokens. First, early investors have more chances and opportunities to lower the cost of a new token, immediately selling a new token purchased at a big discount on the exchange at the price of ICO. Secondly, coins are created to be bought and sold. If they are not in motion but stored in purses, they will simply be forgotten and they will be useless.

xfaqs01

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Quote from: mklost on October 05, 2018, 06:35:13 PM

I totally disagree with you mate. Though I am a bounty hunter replying to this thread, because Your idea about bounty hunter is not well. Most of the hunters are not a dumper now, they are holding many coins. I can ensure you, if you check bounty hunters wallet then you will see they are holding some good coins. And the real truth is, Bounty hunters are becoming ICO investors too, they know which project will be good or bad! And Presale investors, Miners are dumping coin and Bitcoin. 1% Rewards you seem very big and they are dumping lots of bucks? You are wrong here.

true, ive been a bounty hunter for more that a year now and i could say that 70% of my stakes of different coins are being held, so its not the hunters that dumps its the big whale players trading in the market, because thats how yhey profit wether the market goes up or down it doesnt matter.

Herbert2020

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i don't know why you are saying bitcoin AND ethereum together because a coin like ETH has its price solely dependent on ICOs, their existence and their hype and dumps whereas bitcoin is not even related to that world. some rare occasions you may find some people invest in ICOs using bitcoin but the connection stops there.
and because of that when ICOs die tokens like ethereum will take the biggest hit because their use case is dying with ICOs. not to mention that ETH has another big problem which is damaging its price and that is its unlimited supply.

gabbie2010

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There are bounty hunters though were paid with the respective tokens they had worked for however exchanged or dumped for BTC or ETH even XRP and hodl ie preferred hodling in higher volume or liquidity cryptos which is contrarily to your opinion I think it is two way or side situation.

h0lybyte

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Infact, i agree with your statement and not only bounty hunters threatens the value of BTC and ETH but i sarcatically say that all ICOs are threat to BTC and ETH.
There are some pump and dump telegram groups with loads of members watching every minute to dump the value of BTC.
I strongly believe that if these dumping groups wouldn't exist, we would have surpassed Bitcoin $100k value

CodyAlfaridzi

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I agree that ICO bounties have create a bad effect for cryptocurrency but not because of the dumping that they create. I don't see such selling as dumping, it's rather a normal and expected activity. Not all of bounty hunters sell their ETH/BTC to fiat. I'm sure that there's still a big portion of them who prefer to hold their earnings in ETH/BTC. The amount of selling pressure they gave is also nothing close to what miners are giving.

ICO is harmful because most ICOs are only quick rich scheme for the developer. Most of them don't deliver their promise, they don't continue their project after receiving the ICO money. These bounty hunters are only helping them reaching that goal. Bounties also attract people who only care about making money quick, not really giving a damn about cryptocurrency.

hachiman13

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Funny that you blame only the bounty hunters for dumping of prices whereas they only have a small portion of the total supply, typically 1-2%, and the ICO participants have bonuses as much as 50%. Besides, bounty tokens are distributed 3 months after the ICO so if the coins were to be listed before then on exchanges, the prices would still dump because of the pre-sale investors.

pacman7331

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This is not right actually. Bounty is an important part of the cryptocurrency. Most of the high ranking people ave bounty experience, no one can ignore this truth. Bounty is the best way to promote an ICO project to the crypto investor. By working on bounty campaigns, the hunter gets rewards. Do you think that 1-2% Token rewards are a threat to the bitcoin and Ethereum? You are totally wrong. This is not a threat rather this is a part of the cryptocurrency.

dablatair

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Hello,

I think that it is really not accurate to say this. Lost of bounty participant trust in the project, keep their tokens or even invest in it. Also many times tokens are locked so it help to don’t have big dump. Finally even if there is sell of a certain amount, the benefits of advertising from the bountie give more in return than the distributed.

peacefulpeace

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if i should understand you clearly, you are saying ico shouldn't engage their projects in bounties anymore? are you trying to discourage bounty campaigns? please throw more light on your points please. thanks

BrewMaster

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Quote from: Thirdspace on October 06, 2018, 09:31:35 AM

Quote from: Stedsm on October 05, 2018, 06:21:36 PM

- All these ICOs mostly use BTC and/or ETH as primary payment systems instead of going for fiat alone, which is good for their project as the transactions and valuation remains public.

ICO with BTC payment means investors with fiat will buy BTC (fiat inflow) and BTC price may increase

in order to see if this is correct we should first discuss "who are the investors in ICOs?" more precisely, are these investors coming from outside of crypto-space or are they already in.
i believe that at least majority (if not all) of the ICO investors are already in this market. they are not coming from outside seeing an ICO and then finding out about bitcoin. they already own bitcoin,etc and now want to invest in an ICO to increase their bitcoin/wealth when/if they make profit.
in that case their investment in ICOs won't have any effects on bitcoin price but their exit might because usually it is bitcoin price fall that triggers the avalanche of altcoins so the same investors see their token dropping hard while bitcoin is also dropping so they choose to exit to fiat. the way they do it is to sell token for bitcoin then bitcoin for fiat and that can put sell pressure on bitcoin.

Thirdspace

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Quote from: Stedsm on October 05, 2018, 06:21:36 PM

- All these ICOs mostly use BTC and/or ETH as primary payment systems instead of going for fiat alone, which is good for their project as the transactions and valuation remains public.

ICO with BTC payment means investors with fiat will buy BTC (fiat inflow) and BTC price may increase

Quote from: Stedsm on October 05, 2018, 06:21:36 PM

- ~1% of the (possible) total circulation goes to this bounty.

- Now, when these bounties are distributed (few before and others after getting listed on at least one reputed exchange), these bounty hunters start taking their money out either in BTC or ETH (based on the available pair on exchange).

these projects pay bounties in their own (useless/worthless) tokens
when bounty hunters sell these tokens for BTC means swap between cryptos, no fiat involved
even then if they cash out (fiat ouflow) their BTC, this would even out (fiat inflow) of the investors fund (at ICO)

Quote from: Stedsm on October 05, 2018, 06:21:36 PM

- I believe the value of both of these major crypto is vulnerable to dumps happening by most of the big ...

the value of those tokens are in dangers,
the crypto being dumped are the tokens (swapped) for BTC, renders the token worthless
BTC would retain its value as form of currency on this matter, while those tokens are losing value

avikz

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Quote from: Stedsm on October 05, 2018, 06:21:36 PM

Here, I'm not against the concept of advertisement and marketing, but to my knowledge, these bounties do harm the value of BTC and ETH. Let me show you how:

- All these ICOs mostly use BTC and/or ETH as primary payment systems instead of going for fiat alone, which is good for their project as the transactions and valuation remains public.

- Now, when they collect everything, they also do marketing campaigns aside to keep their project alive and under "catch investors' eye" situation.

- ~1% of the (possible) total circulation goes to this bounty.

- Now, when these bounties are distributed (few before and others after getting listed on at least one reputed exchange), these bounty hunters start taking their money out either in BTC or ETH (based on the available pair on exchange).

- Finally, they sell their BTC/ETH over the markets and repeat the process in each bounty.

- I believe the value of both of these major crypto is vulnerable to dumps happening by most of the big bounty hunters and if we calculate, there are tens of hundreds of ICOs popping up every day and even if we consider at least $10k to be redeemed by its bounty hunters through ICO, we may calculate and see that the markets are getting dumped with an average of a million bucks daily.

I think otherwise! This process is actually keeps the market active unlike the way you think here! Your process is correct until I reached below point,

Quote

- Finally, they sell their BTC/ETH over the markets and repeat the process in each bounty.

Bounty hunters usually do not go to this process. They usually sell off their tokens for BTC/ETH and accumulate them or cash them out. They don't usually sell of those BTC/ETH for another token or so. Bounty hunters are definitely harmful for the ICO itself because when they sell off their tokens in bulk, the price of that token usually goes down because of the large dump. But that increases the demand of BTC/ETH on the other hand. So I don't see it as a threat to the BTC/ETH, instead it is a threat to the price stability of the token!

ralle14

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It's hard to assume that all bounty hunters sell all of their BTC/ETH right away. I agree that it's a threat to the value of Bitcoin but I don't see it being a huge threat where bounty hunters alone can dump the price because there's not enough proof to back this up. With hundreds of bounties popping up, the price of Bitcoin and Ethereum should've kept on going down if bounties are a real threat. The funds rasied from these ICOs could do more harm than these bounties imo.

PsylockReborn

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It won't create much impact with that very small percentage of money from bounty hunters and not all bounty hunters are dumpers. Some of them hoard tokens and wait for right moment to make a huge profit. I was once a bounty hunter few months back and I invested to different good projects that I find to give me good profits in return. Those dusts of money won't really affect the whole value of bitcoin as a whole. When we talk about bitcoin's value we are talking about billions of dollars and even a million a day won't affect that much.

mu_enrico

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OP I don't think you have valid arguments for this case. Here is why:
1. BH attract a lot of people to the ecosystem and will become the holder themselves.
2. The money inflow will be bigger than the outflow since bounty hunters will only able to sell a small portion of the total capital raised (assumed BH sold 100% of the bounty pool).
3. Related to number 2, not all BH sold their tokens (even less capital outflow).
4. Even if all ICOs default and then tokens converted back to fiat, the price decrease of the blockchain will remain the same as before (before ICOs hype).

virendarnagpal

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If ICOs accept their payment via Bitcoin or Ether it means their demand will increase. With the increase of demand the price will automatically go up. It will not fall immediately and sharply fall unless the ICO managers sell their holdings very fast.

In most of the ICOs, Bounty distribution is just one percent of the ICO collection. This too is not in bitcoin or ether. This is in the ICO's own tokens. So when bounty hunters will be selling their reward it will affect the price of concerned coin only and not the bitcoin or ether. On the contrary it may be possible that some bounty hunters may sell their coins in exchange for bitcoin. It will also be the step towards increasing the demand of bitcoin or ether; ultimately helping upward movement in the price of bitcoin.

So the conclusion is that ICOs are responsible in uplifting the price of bitcoin and ether

gantez

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I think it is the fraud in ico that affects these cryptos because they are the means of payments.

Quote from: mklost on October 05, 2018, 06:35:13 PM

Your idea about bounty hunter is not well. Most of the hunters are not a dumper now, they are holding many coins.

Well that hodling can now be because the tokens are worth nothing when they are distributed. Bounty hunters are actually intending to dump because are now seeing that price are released below ico prices and they can't even make anything out of it and they are forced to hodl them.

bigmaster23

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I concur and flank with you but to my perspective of view, it is not hazardous for bitcoin there's a certain time that bitcoin will surely fail and by that time these ico and other coin will succeed it's predecessor for the long run and change by other coin again generation by generations.

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