In the best interest of investors, Bounties shouldn't be paid in Tokens - page 4.

StormHawk

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Quote from: Woodie on March 02, 2023, 06:32:34 PM

I don't know who needs to hear this but after years of being a bounty hunter and keeping a close eye on how bounties are conducted, it's safe to say most projects make the biggest mistake of paying bounty hunters using their native tokens, why do I say so, well bounty hunters don't share the long term foresight as the project to the point of being a hodler to grow with the company but rather see their bounty payment as a service and will sell the tokens for less to get whatever money they can because they owe nobody anything.Of course, for the project to pay using the tokens is cost cutting but if the project is truly slated for the future, paying using non-tokens is a good signal for a strong project.

Going forward in the best interest of investors and the project itself, hope to see "more" bounties being paid with established coins in this industry.

What do you guys think?

This is why many bounty hunters failed in the past years, I know that almost all bounty hunters dump their tokens in the past but the few that held did so amazingly well, because the tokens surged in 2021 and many made lots of money, most new alt bounties are from projects that haven't raise any fund, the best way to go about this is to pay bounty hunters with their tokens, it is left for bounty hunters to do diligent research first before promoting any project.

Dr.Osh

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Quote from: SquallLeonhart on March 11, 2023, 12:18:28 PM

The problem is that most of the bounty managers end up getting paid in stablecoins, which is a proof that even the manager doesn't believe in the project, and why would they? They do not have to work that much for something that may not even have any value in the end and I get it. But, expecting bounty hunters to work for something that you created on your living room while having some fun, while the team and bounty managers all expecting to get paid in stablecoins, is not really a good idea at all.

Investors would have to pay with coins that actually have real value to get the token, so that the team gets stablecoins or something, and bounty managers too, while hunters will get paid in useless and worthless tokens.

if we look at the negative side of this, then if the project fails, the biggest losers will be the investors, and after that the bounty hunters. because the project team and manager have been getting paid their money's worth. However, that can turn into a huge advantage when the project team is actually working on their project. In my experience, a few years ago there were quite a lot of projects that paid using tokens. They got big profits, especially for investors and bounty hunters. Because of the success of this, there are currently many projects that do the same thing. however, sometimes the quality of the project is very poor. However, as a bounty hunter, I wish the best for the projects I support. besides that, bounty managers always say that they don't force anyone to join or invest in the projects they present. it all depends on our decisions. But, personally I also hope that future bounties will pay out in stable coins or coins that are already on the market like ethereum or bnb. it might benefit all parties, it's just that the project team must have more funds for advertising.

wxa7115

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Quote from: Rengga Jati on March 11, 2023, 04:32:32 PM

Most of bounty participants must also think that it will be worthy if paidin topcoins, stable coins, ro Bitcoin, but the paymenet is fixedpayement. So, they will have no matter if the token is listed or not in the exchanges.But,, in the termof developer, most of them don't have enough funds to pay them, they only have thier native token so that theya re able to pay the bounty participants.

Additionally, some investors may have certain strategy to utilize all chances that they have by releasing their token at the right time. But atcually, we cannot also blame the bounty participants who wnat money as soon as possible after the token is listed. And many of them will sell the tokens at whatever price. This is bad, but sometimes, we also don't know if exactly the one that makes the price dropped very much is the bounty participants or the developer it self, or the investors itself.

If the coin was any good then even if the bounty holders sold their rewards as soon as possible then no crash will happen, also if the coin was good then the bounty hunters may not be interested at all on selling as soon as they go their payment as their profits could grow if they held those tokens.

Years ago when bounties were still popular, many bounty hunters preferred to be paid on those native tokens, as they knew they could go up in value really quickly and make way more money with those tokens than if they accepted bitcoin or ethereum as payment.

Rengga Jati

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Most of bounty participants must also think that it will be worthy if paidin topcoins, stable coins, ro Bitcoin, but the paymenet is fixedpayement. So, they will have no matter if the token is listed or not in the exchanges.But,, in the termof developer, most of them don't have enough funds to pay them, they only have thier native token so that theya re able to pay the bounty participants.

Additionally, some investors may have certain strategy to utilize all chances that they have by releasing their token at the right time. But atcually, we cannot also blame the bounty participants who wnat money as soon as possible after the token is listed. And many of them will sell the tokens at whatever price. This is bad, but sometimes, we also don't know if exactly the one that makes the price dropped very much is the bounty participants or the developer it self, or the investors itself.

tvplus006

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Quote from: SquallLeonhart on March 11, 2023, 12:18:28 PM

The problem is that most of the bounty managers end up getting paid in stablecoins, which is a proof that even the manager doesn't believe in the project, and why would they? They do not have to work that much for something that may not even have any value in the end and I get it. But, expecting bounty hunters to work for something that you created on your living room while having some fun, while the team and bounty managers all expecting to get paid in stablecoins, is not really a good idea at all.

Investors would have to pay with coins that actually have real value to get the token, so that the team gets stablecoins or something, and bounty managers too, while hunters will get paid in useless and worthless tokens.

The bounty manager will receive a salary in stablecoins only if he proves to the team that he is the most the best. I don't think this rule has changed now, but before, when I was engaged in bounty, it was exactly like this, and all managers received payment in tokens, with the exception of some.

SquallLeonhart

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Quote from: samuraijin on March 10, 2023, 08:36:32 AM

Quote from: tvplus006 on March 10, 2023, 06:26:08 AM

It is the cherished dream of bounty hunters that their reward is paid in a stablecoin or bitcoins. Since everyone already knows from their own experience that most of the coins of the project turn into shit immediately after the end of the bounty program. But the project team is also aware of such risks, and therefore pays with tokens in order not to incur additional costs.

It is very difficult indeed to talk about payments for bounty hunters, some pay using usdt some use tokens and most often they pay using tokens, often hunters don't get paid for their work, even though they do get paid it is often worthless their tokens, then the exact solution is that the project pays using Usdt or coins that are more valuable BNB, BSC, or ETH, so that inventors and bounty hunters get the results of the project's work.

The problem is that most of the bounty managers end up getting paid in stablecoins, which is a proof that even the manager doesn't believe in the project, and why would they? They do not have to work that much for something that may not even have any value in the end and I get it. But, expecting bounty hunters to work for something that you created on your living room while having some fun, while the team and bounty managers all expecting to get paid in stablecoins, is not really a good idea at all.

Investors would have to pay with coins that actually have real value to get the token, so that the team gets stablecoins or something, and bounty managers too, while hunters will get paid in useless and worthless tokens.

Oneandpure

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Depend on bounties campaign kinds when accepting payment with native token or using stable coins, when promoting bounties campaign have already listing on the exchange market seems they will pay using stable coins like BUSD or Ethereum, but if token not listing yet on the market they will publish payment using token and have exact how much bounties reward allocation.

Some time rule about payment with stable coin or native token will be change, if early listing and project have good price when listing actually the developer will pay using stable coins, but if price drop there not option payment using stable coins.

decodx

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Quote from: samuraijin on March 10, 2023, 08:36:32 AM

Quote from: tvplus006 on March 10, 2023, 06:26:08 AM

Quote from: decodx on March 09, 2023, 06:02:11 PM

I also noticed that a lot of these projects make a mistake by paying bounty hunters with their own special tokens instead of more established coins like Bitcoin or stablecoins...

It is the cherished dream of bounty hunters that their reward is paid in a stablecoin or bitcoins. Since everyone already knows from their own experience that most of the coins of the project turn into shit immediately after the end of the bounty program. But the project team is also aware of such risks, and therefore pays with tokens in order not to incur additional costs.

It is very difficult indeed to talk about payments for bounty hunters, some pay using usdt some use tokens and most often they pay using tokens, often hunters don't get paid for their work, even though they do get paid it is often worthless their tokens, then the exact solution is that the project pays using Usdt or coins that are more valuable BNB, BSC, or ETH, so that inventors and bounty hunters get the results of the project's work.

As most altcoin projects these days turn out to be scams, it's not hard to see why project owners aren't willing to put real money into bounty campaigns. They know their project is unlikely to succeed and their main goal is to make a quick buck without any genuine commitment to their project's success. While there are certainly legitimate projects out there, the prevalence of scams can make it difficult for investors and users to differentiate between the two. Moreover, it's not just the project owners who are at fault for these scams. Bounty hunters and other individuals who participate in these campaigns also play a role in perpetuating fraudulent projects. By promoting these scams in exchange for a quick payout, they are enabling the continuation of these schemes and contributing to the erosion of trust in the cryptocurrency space.

samuraijin

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Quote from: tvplus006 on March 10, 2023, 06:26:08 AM

Quote from: decodx on March 09, 2023, 06:02:11 PM

I also noticed that a lot of these projects make a mistake by paying bounty hunters with their own special tokens instead of more established coins like Bitcoin or stablecoins...

It is the cherished dream of bounty hunters that their reward is paid in a stablecoin or bitcoins. Since everyone already knows from their own experience that most of the coins of the project turn into shit immediately after the end of the bounty program. But the project team is also aware of such risks, and therefore pays with tokens in order not to incur additional costs.

It is very difficult indeed to talk about payments for bounty hunters, some pay using usdt some use tokens and most often they pay using tokens, often hunters don't get paid for their work, even though they do get paid it is often worthless their tokens, then the exact solution is that the project pays using Usdt or coins that are more valuable BNB, BSC, or ETH, so that inventors and bounty hunters get the results of the project's work.

coin-investor

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Quote from: Woodie on March 02, 2023, 06:32:34 PM

Going forward in the best interest of investors and the project itself, hope to see "more" bounties being paid with established coins in this industry.

What do you guys think?

These developers don't have money to pay bounty hunters they don't even have money to launch their platform that is why they do crowdfunding if the project did not reach the soft cap they cannot pay their bounty hunters so why will they spend money when they cannot get money to fund their project.
In the old days 5 to 6 years ago its worth receiving tokens for your effort in promoting ICO, In one of the ICO I joined I earn $2000 in two months participating in a bounty campaign, but that was then, now you could not even earn $50 for a week campaign and you have to wait for several months before the token you receive to get a value.

tvplus006

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Quote from: decodx on March 09, 2023, 06:02:11 PM

I also noticed that a lot of these projects make a mistake by paying bounty hunters with their own special tokens instead of more established coins like Bitcoin or stablecoins...

It is the cherished dream of bounty hunters that their reward is paid in a stablecoin or bitcoins. Since everyone already knows from their own experience that most of the coins of the project turn into shit immediately after the end of the bounty program. But the project team is also aware of such risks, and therefore pays with tokens in order not to incur additional costs.

Digital_Lord

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There are lots of bounties which pay to bounty hunters in the form of tokens and I think that when they receive that so lots of people sell these coins immediately and the price of token reduces therefore bounty hunters do not get actual reward. I think bounty manager should rewards the participants with those token which are stable and their value doesn't reduces as such as that of the other's tokens. Some bounties rewards users with those tokens which have lower price so the users prefers to hold it rather than sell it because the price become so reduced that it has no benefit to bounty hunters.

Dragonfund

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Quote from: Woodie on March 02, 2023, 06:32:34 PM

I don't know who needs to hear this but after years of being a bounty hunter and keeping a close eye on how bounties are conducted, it's safe to say most projects make the biggest mistake of paying bounty hunters using their native tokens, why do I say so, well bounty hunters don't share the long term foresight as the project to the point of being a hodler to grow with the company but rather see their bounty payment as a service and will sell the tokens for less to get whatever money they can because they owe nobody anything.Of course, for the project to pay using the tokens is cost cutting but if the project is truly slated for the future, paying using non-tokens is a good signal for a strong project.

Going forward in the best interest of investors and the project itself, hope to see "more" bounties being paid with established coins in this industry.

What do you guys think?

Not all Crypto start ups that do have Venture Capitals that love to invest in them, even if they do, they can't used the money to fund marketing, they need ectra funds for advertisements and since they don't have any, they always go for what is available which is the token, they have to do the adverts to strenghten the awareness of the projects and that is why bounty risk it to and do the work and must be paid in full after their work, it is now left for the team to know how to prevent dump when the coin becomes listed on the exchange, only if there other ways out to pay Bounty hunters, it would be actually better.

lienfaye

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Quote from: Woodie on March 02, 2023, 06:32:34 PM

What do you guys think?

It's really a good idea to pay the bounty hunters in established coins like Bitcoin, ETH etc. Because the rewards certainly have a value already. However these developers don't want to spend money from their own pocket to advertise their project because they're also not certain what the future holds. They don't want to spend for advertising then the project failed because it's a big loss for their side.

On the other hand, paying the bounty hunters in their native tokens are the risk the hunters need to take since there's no assurance it will gain value in time you already receive your rewards. The reason it's important to be careful what projects you'll join in because majority of them are shit projects and your effort will only be wasted in the end.

wxa7115

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Quote from: bittick on March 09, 2023, 06:18:04 PM

It's might have something to do with the fact that they are already allocated the tokens initially based on their tokenomics for the bounty hunters which means they already anticipated the fact that it's gonna get massive dumpings, as long as the team committed and also add some money to bag the coins, they should be fine, I'm sure they already take this into their calculation.

Besides the allocation given these days to bounty hunters is so low they should not be able to crash the market even if they all sold at the same time.

And if the price of the coin still collapsed right after the bounties were paid to the bounty hunters then we can conclude there are additional reasons of why such crash happened, like big holders selling out of fear the price could crash or simply the volume was too low and it could not absorb the small amount of coins given to the bounty hunters and this caused such a drop on the price.

bittick

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It's might have something to do with the fact that they are already allocated the tokens initially based on their tokenomics for the bounty hunters which means they already anticipated the fact that it's gonna get massive dumpings, as long as the team committed and also add some money to bag the coins, they should be fine, I'm sure they already take this into their calculation.

decodx

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I also noticed that a lot of these projects make a mistake by paying bounty hunters with their own special tokens instead of more established coins like Bitcoin or stablecoins. Now, some people think that it's a bad idea for projects to pay bounty hunters in their own tokens because the bounty hunters are more likely to sell the tokens immediately instead of holding onto them for the long term. This can cause the token price to drop, which is not good for the project or its investors. But for the project, it's cheaper to pay with their own tokens instead of real money, so it's a trade-off. Plus, some bounty hunters actually do research to see if the token is worth holding onto before they decide to sell. Each option has its pros and cons, and it's important for the project to think carefully about what's best for them and their investors.

tvplus006

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Quote from: Woodie on March 02, 2023, 06:32:34 PM

...Going forward in the best interest of investors and the project itself, hope to see "more" bounties being paid with established coins in this industry.

You yourself understand that it is easier for the team to pay you with their tokens, which ultimately cost them free. If the same team uses a well-known coin for settlements with bounty hunters, then this will be additional expenses, which are already enough at the initial stage.

Oilacris

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Quote from: lixer on March 09, 2023, 03:50:16 PM

Quote from: xSkylarx on March 07, 2023, 12:03:11 AM

It was a great idea if the goal of the owner is to keep his token success because mostly the dump happens when the bounty hunters received their token and all of them start selling and they don't care of what will happen to the project. Though the problem really is the cost paying on it like others dont have really enough budget to pay those bounty hunters that is why they are going to pay then via their own token. I seen couple of bounties before that pays in USDT but still bounties is really paid by their own tokens

I don't think all BH are selling their coins once the bounty is over. Some of them are also like us who knows how to hold a coin in order to maximize their profits however if they think that the bounty is a scam or weak to last longer, there is no point of holding the tokens.

Dumping is part on how this market works so a project owner should not be worried about that. Even if they don't conduct a bounty campaign, there is still a possibility that some investors will dump coins for the same reason I said above or if they need an emergency money. A good project will always find its way to recover so they must not worry if they knew that they have created one.

This is actually depending on someones interest and plans into their coins.Once im a bounty hunter which it is really that there are really times which i've been holding my coins that i do received

but that would really be that depending if the project is really that having the potential but i do believe that most bounty hunters would really be selling out their coins once they do
get a hold of it which as long it would be traded up mainly first on DEX and as long it would really be having that value and this is where BH's would be securing out on what they had earned which it isnt really that something new.

Paid on tokens? Most of projects would really be doing that and its just that rare to find or see that companies paying up with fiat or known established coins
specially when they are still on ICO or presale or whatsoever.

Natalim

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Quote from: xSkylarx on March 07, 2023, 12:03:11 AM

It was a great idea if the goal of the owner is to keep his token success because mostly the dump happens when the bounty hunters received their token and all of them start selling and they don't care of what will happen to the project. Though the problem really is the cost paying on it like others dont have really enough budget to pay those bounty hunters that is why they are going to pay then via their own token. I seen couple of bounties before that pays in USDT but still bounties is really paid by their own tokens

As I've experienced before, an abrupt dump really happens when they release their reward to the participants. It was a sad thing to see that even though the project looks promising at the start but these hunters care nothing and never think about what will happen to the project if they all sell their coins at cheap prices. Some bounties had paid their participants in batches avoiding instant drop of process and actually, it helps a little bit. I guess the design isn't really good but paying them in their native tokens is not the best option as this only degrades the value of their project when seeing it dumps to the worse level where no one is even buying.

Topic: In the best interest of investors, Bounties shouldn't be paid in Tokens - page 4. (Read 971 times)