The cost of running a bounty? | Bitcointalksearch.org

shoreno

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Quote from: Bezobraznike on November 09, 2019, 05:58:34 PM

Quote from: DGulari on November 08, 2019, 08:44:46 PM

Quote from: pamsugas on September 15, 2019, 06:08:34 PM

they only pay with tokens, they don't cost a lot, just make smartcotract from eth. for sending tokens are also small. it's just that if their project is successful the token that they make will have great value.

Dude, it's not about what coin/token they paying, but rather about fees while sending the token to all bounty hunters which required few hunderd - thousand dollars.
There was a bounty which successfully collected 100M of dollars but they decided to scam by run away with their project and abandon their bounty hunter. So even a successfull ICO/IEO can't be guarantee you will get paid

DGulari I agree with you, there are no guarantees with any new project. It's the risk
we agree to take when we join some bounty/airdrop.
To add something about the topic, new projects have marketing, bounties should
be just one part of entire marketing. Bounty participants are paid in their token, they
just pay for the sending fees. But some big projects had widely spread marketing,
they couldn't pay that with their token, so they need to spend money on that too.

yes you need to take risk here because that is your only capital when joining a bounty . your lucky that you dont need to invest a crypto or a money not unlike to investor were they are facing double risk . sending fees is not a problem and fees becomes cheap once they send tokens in a bulk . big ico proects wants more exposure so your right that they are going to need some cash or cryptos as a capital for other promotions on other sites not just on this forum but smaller one's were already contented on this forum and they can only use their token to pay the bounty hunters s

Bezobraznike

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Quote from: DGulari on November 08, 2019, 08:44:46 PM

Quote from: pamsugas on September 15, 2019, 06:08:34 PM

they only pay with tokens, they don't cost a lot, just make smartcotract from eth. for sending tokens are also small. it's just that if their project is successful the token that they make will have great value.

Dude, it's not about what coin/token they paying, but rather about fees while sending the token to all bounty hunters which required few hunderd - thousand dollars.
There was a bounty which successfully collected 100M of dollars but they decided to scam by run away with their project and abandon their bounty hunter. So even a successfull ICO/IEO can't be guarantee you will get paid

DGulari I agree with you, there are no guarantees with any new project. It's the risk
we agree to take when we join some bounty/airdrop.
To add something about the topic, new projects have marketing, bounties should
be just one part of entire marketing. Bounty participants are paid in their token, they
just pay for the sending fees. But some big projects had widely spread marketing,
they couldn't pay that with their token, so they need to spend money on that too.

DGulari

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Quote from: pamsugas on September 15, 2019, 06:08:34 PM

they only pay with tokens, they don't cost a lot, just make smartcotract from eth. for sending tokens are also small. it's just that if their project is successful the token that they make will have great value.

Dude, it's not about what coin/token they paying, but rather about fees while sending the token to all bounty hunters which required few hunderd - thousand dollars.
There was a bounty which successfully collected 100M of dollars but they decided to scam by run away with their project and abandon their bounty hunter. So even a successfull ICO/IEO can't be guarantee you will get paid

jrrsparkles

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Quote from: VanDeinsberg12 on November 08, 2019, 07:41:26 AM

But i guess that guy above you is talking about the airdrop creator is not worth to send the token which need a lot of money to pay the gas.
Smartcontract is really complex algorithm. some airdrops even creating a smart request system which the airdrop participants can claim their airdrop when they are paying the gas as a tx fees with their own ethereum.

I did mentioned why they were spending from their own pocket!

They will get huge benefits from what they are spending so it maybe worth in their view to spend such amount and as you said many projects ask the claimer to pay the gas fee to get rewards in this case they even want to save that small amount from their total profits. Cheesy

VanDeinsberg12

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Quote from: jrrsparkles on November 08, 2019, 06:43:39 AM

Quote from: Lauren Smith on November 08, 2019, 05:06:57 AM

Many people here do not read and listen and are just posting to be paid. Some of you are telling me if its their own token it will cost nothing. -_- *facepalm* Im talking about the gas fee. Gas fee can be $0.20 so how expensive will an airdrop be?

Quote from: DarkDays on September 09, 2019, 01:10:34 PM

Quote from: Lauren Smith on September 08, 2019, 03:07:08 PM

Running a bounty can't be cheap. For every person participating you have to pay a fee. For telegram and airdrops, how do the devs afford it?

10k airdrops at 1 cent is $100 just for one round. That sounds costly to me. I also doubt a transfer would be so little as 1 cent.

What makes me wonder even more is how do devs that give up on their projects or let them die still pay out their bounty? Some scams even payout their scam coin which must cost them 100s of $$

Is there something I am missing? is mass sending eth tokens cheaper then I think? Maybe someone with some experience in send to multiple eth addresses knows. You also need to use a special service or have the know-how to send to multi addresses as well.

Since when is sending 10,000 transactions for $100 expensive? That's incredibly cheap, can you imagine trying to send 10,000 individual payments with only $100 in network fees using any other payment platform?

For most people living in a developed country, $100 or even $1,000 is basically negligible. For companies looking to raise upwards of $1 million, they need to expect to spend a decent chunk of change initially marketing their project.

Yes but im not talking about projects looking to raise that much. Im talking about airdrops to create awareness before you recieve funding. Unless you do it after the ICO then i can see it happening. I pay $0.20 to send eth very often i think the lowest is $0.04 now it sounds like very little but for 10000 transactions it can cost a few hundred. Plus all the time it takes which costs you money as well. Not everyone wanting to run an ico is from a first world country and the gas fee might be a lot for them.

IF the projects aims to raise much then they have to spend some right? So yes they are going to pay the transaction fee which may cost few hundred or thousand bucks but they will get in few hundred or million bucks so totally they are going to be in profits. Wink

But see how many projects have airdrops,most run with bounty alone for that they no need any money if they can create their own token,they no need to hire bounty managers since most projects coming up with copper membership.They have to send their tokens only after ICO completes.

The cost is needed when there was a project that hired the bounty manager to take a part on its bounty management, as far as i know about that so many bounties don't use even single money to start its campaign.
The cost to issue an asset is not too much and just spent a few ethereum and we are able to issue a new asset through ethereum smartcontract.

But i guess that guy above you is talking about the airdrop creator is not worth to send the token which need a lot of money to pay the gas.
Smartcontract is really complex algorithm. some airdrops even creating a smart request system which the airdrop participants can claim their airdrop when they are paying the gas as a tx fees with their own ethereum.

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Quote from: jrrsparkles on November 08, 2019, 06:43:39 AM

IF the projects aims to raise much then they have to spend some right? So yes they are going to pay the transaction fee which may cost few hundred or thousand bucks but they will get in few hundred or million bucks so totally they are going to be in profits. Wink

I would agree and considering how much they got in ico, it's just peanuts to them. While the fact remains that's the least thing they can do, I mean for sure participants can't sell their token in decent value.

Anyway, I'm sure they're using mass sending software, don't know what specifically but they'll definitely don't want to over spend for just a transaction fee.

Quote from: Lauren Smith on November 08, 2019, 05:06:57 AM

Gas fee can be $0.20 so how expensive will an airdrop be?

Guess that's too much, typically it cost them roughly $0.03.

jrrsparkles

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Quote from: Lauren Smith on November 08, 2019, 05:06:57 AM

Many people here do not read and listen and are just posting to be paid. Some of you are telling me if its their own token it will cost nothing. -_- *facepalm* Im talking about the gas fee. Gas fee can be $0.20 so how expensive will an airdrop be?

Quote from: DarkDays on September 09, 2019, 01:10:34 PM

Quote from: Lauren Smith on September 08, 2019, 03:07:08 PM

Running a bounty can't be cheap. For every person participating you have to pay a fee. For telegram and airdrops, how do the devs afford it?

10k airdrops at 1 cent is $100 just for one round. That sounds costly to me. I also doubt a transfer would be so little as 1 cent.

What makes me wonder even more is how do devs that give up on their projects or let them die still pay out their bounty? Some scams even payout their scam coin which must cost them 100s of $$

Is there something I am missing? is mass sending eth tokens cheaper then I think? Maybe someone with some experience in send to multiple eth addresses knows. You also need to use a special service or have the know-how to send to multi addresses as well.

Since when is sending 10,000 transactions for $100 expensive? That's incredibly cheap, can you imagine trying to send 10,000 individual payments with only $100 in network fees using any other payment platform?

For most people living in a developed country, $100 or even $1,000 is basically negligible. For companies looking to raise upwards of $1 million, they need to expect to spend a decent chunk of change initially marketing their project.

Yes but im not talking about projects looking to raise that much. Im talking about airdrops to create awareness before you recieve funding. Unless you do it after the ICO then i can see it happening. I pay $0.20 to send eth very often i think the lowest is $0.04 now it sounds like very little but for 10000 transactions it can cost a few hundred. Plus all the time it takes which costs you money as well. Not everyone wanting to run an ico is from a first world country and the gas fee might be a lot for them.

IF the projects aims to raise much then they have to spend some right? So yes they are going to pay the transaction fee which may cost few hundred or thousand bucks but they will get in few hundred or million bucks so totally they are going to be in profits. Wink

But see how many projects have airdrops,most run with bounty alone for that they no need any money if they can create their own token,they no need to hire bounty managers since most projects coming up with copper membership.They have to send their tokens only after ICO completes.

Lauren Smith

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Many people here do not read and listen and are just posting to be paid. Some of you are telling me if its their own token it will cost nothing. -_- *facepalm* Im talking about the gas fee. Gas fee can be $0.20 so how expensive will an airdrop be?

Quote from: DarkDays on September 09, 2019, 01:10:34 PM

Quote from: Lauren Smith on September 08, 2019, 03:07:08 PM

Running a bounty can't be cheap. For every person participating you have to pay a fee. For telegram and airdrops, how do the devs afford it?

10k airdrops at 1 cent is $100 just for one round. That sounds costly to me. I also doubt a transfer would be so little as 1 cent.

What makes me wonder even more is how do devs that give up on their projects or let them die still pay out their bounty? Some scams even payout their scam coin which must cost them 100s of $$

Is there something I am missing? is mass sending eth tokens cheaper then I think? Maybe someone with some experience in send to multiple eth addresses knows. You also need to use a special service or have the know-how to send to multi addresses as well.

Since when is sending 10,000 transactions for $100 expensive? That's incredibly cheap, can you imagine trying to send 10,000 individual payments with only $100 in network fees using any other payment platform?

For most people living in a developed country, $100 or even $1,000 is basically negligible. For companies looking to raise upwards of $1 million, they need to expect to spend a decent chunk of change initially marketing their project.

Yes but im not talking about projects looking to raise that much. Im talking about airdrops to create awareness before you recieve funding. Unless you do it after the ICO then i can see it happening. I pay $0.20 to send eth very often i think the lowest is $0.04 now it sounds like very little but for 10000 transactions it can cost a few hundred. Plus all the time it takes which costs you money as well. Not everyone wanting to run an ico is from a first world country and the gas fee might be a lot for them.

attech21

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Some tactics that they made is paying their own cost from what they get to there project being wise is like talking about on how does your bounty going good near in the future but their was a case that they have to pay using btc so that they gonna have a promo to their investors.

pamsugas

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they only pay with tokens, they don't cost a lot, just make smartcotract from eth. for sending tokens are also small. it's just that if their project is successful the token that they make will have great value.

Bonwin

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This should not be a point if debate and not a course for worry. As a project owner, you can decide to either pay in your token if you cannot afford to pay in other already listed coins and if you think you have the fund to back that up by paying in bitcoin, ethereum or other already listed coin, it might be preferable by bounty hunters and it will help to protect and maintain the value of your coin, which is if you do not have a solid product to back it up.

samcrypto

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Quote from: Semosuchi Tesongrato on September 15, 2019, 02:36:38 PM

Since you are paid in coins that do not yet exist, it does not seem to me that there is any cost.
It is a bet on the fact that what you receive.
My altcoins have disappeared, including scams and loss of value.
But in the meantime I managed to convert some into fiat, so I can't complain.

There’s still a cost if you are being managed by the good manager and of course a cost to create your product so many investors will come. The cost of making a new project is huge, and it requires a lot of works with the team and a lot of money to pay for your advertising program. The bounty might not pay you at first but you still need to spend some money on that to succeed.

nanaimogold

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Quote from: airdropdude on September 15, 2019, 04:23:23 PM

I think there is a cheaper way to send once to multiple eth address. I saw a developer posted this months ago and Ethereum founder Vatalik retweeted the post.
I also retweet the post but its been long. Searching for the tweet might take much of my time. I would have love to drop the link here.

Use multisend.Co and you will be fine. All you have to do is to input all recipient addresses and send collectively making it far easier and cheaper for you. There are other technical methods too but multisend tops it for me

airdropdude

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I think there is a cheaper way to send once to multiple eth address. I saw a developer posted this months ago and Ethereum founder Vatalik retweeted the post.
I also retweet the post but its been long. Searching for the tweet might take much of my time. I would have love to drop the link here.

randa2000

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Running bounty very cheap, the team pay in coin or token that cost nothing, why running bounty costly, we can say costly if the team pay in btc, or any other altcoin only.

Semosuchi Tesongrato

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Since you are paid in coins that do not yet exist, it does not seem to me that there is any cost.
It is a bet on the fact that what you receive.
My altcoins have disappeared, including scams and loss of value.
But in the meantime I managed to convert some into fiat, so I can't complain.

Weng simok

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Quote from: dcomomal on September 15, 2019, 12:08:09 PM

It is not definitely not cheap, you have also forgotten about running costs, like paying bounty manager, doing promotions and all that stuff. But the most projects are shutting down because of the one reason, the lack of money.

I think the funds used to cover all costs for bounty, managers, etc. naturally come from funds that can be obtained when ico or ieo are finished, so, it is natural for a project to be terminated if the funds obtained while doing ieo or ico are not reach the minimum sales / softcap target, even if forced to continue a project, usually the team will resale ico / ieo by making some changes to the sale of their project, such as giving a large enough bonus to the investor or maybe they will look for a large investor / angel investor as founders of their project.

omone1

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Projects usually send airdrop/bounty after they might have raised enough money that is good enough to cover the cost of gas of transferring as such the cost will just be negligible as regards to what has been realized through ICO/IEO funding. One thing I am yet to understand is how to mass send token on the ethereum platform.

DarkIT

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Quote from: freedomgo on September 12, 2019, 01:06:36 AM

It's cheap because we are seeing more people are running a bounty, and they are only paying their tokens, so it's not costly for them.
They maybe have to pay for the transaction fee but it's not expensive if they will send it by batch.

This is the logic, it's okay for them to spend for fees even if you think it's high but they will make sure they will raise a good amount.
Most projects raise at least $100 thousand for their ICO, that's a big money already compared to what they will pay for the bounty hunters.
In the earlier times, they could even raise millions in ICO.

as far as I understand, in ICO, the token will be sent to the person concerned when a project has completed the sale. that means, they have enough funds to pay a cheap fee. even more so for bounty hunters. I guess that really makes sense. of all the work done by bounty hunters, inviting enough investors to invest, I think if the total fee incurred is not more than $ 100, or even a range of $ 100, that is normal and can be said to be cheap.

capcaypro

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Quote from: J1mb0 on September 13, 2019, 01:51:37 PM

The project's coin-paying bonus programs don't cost too much. Because they can create it for free, and most of them are junk coins. There are very few payment projects in BTC or ETH

Indeed, that is what is received by the hunters of junk coins that are not valuable, for payments using BTC or ETH only in the gambling signature that I often see.

dcomomal

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It is not definitely not cheap, you have also forgotten about running costs, like paying bounty manager, doing promotions and all that stuff. But the most projects are shutting down because of the one reason, the lack of money.

envatoleaks

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It becomes more and more hard to organize bounty. You need to pay Bounty Manager and now you need to promote your bounty badly. People realize that bounty tokens does not cost a shit most probably. Personally, I tend to see more BTC payout bounties, than oldschool ones.

J1mb0

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The project's coin-paying bonus programs don't cost too much. Because they can create it for free, and most of them are junk coins. There are very few payment projects in BTC or ETH

RealMalatesta

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Most developers that gave up on a project must have made the payment before they realized they cannot continue with the project, I don’t believe that there is any developer that would bring out a penny after project has failed, some other project that stopped along the line before they even concluded their ICO never pays anything, they give the money back to the investors, and since they could not meet up, we never expect anything.

The ones that won’t return money to developers will turn to a scam even if they didn’t have the intention of scamming initially. For airdrops, these guys do quote amounts that would have covered all these contingencies like the airdrop, so they have all that covered already on their quoted amount.

Iykejunior

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Quite certain there is a method used to mass transfer tokens to many users at cheaper transaction charges . If it was as expensive as you think, payments of bounty tokens will kill some projects. You just have to find out the technique used in sending.

freedomgo

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Quote from: Shadidalam1111 on September 13, 2019, 02:30:23 AM

if the project turns out to be a scam even though the costs incurred for sending are very large but they have received a sum of money received from investors when selling tokens.

That's what I'm talking, there's always an operating expense, what matters is they will be net profit in the end, however if the project will turn our to be scam, this an additional destruction of crypto reputation, people will not anymore be attracted in crowd funding due to the high percentage of scam.

Bounty hunters should be responsible at the same time, they should not only focus on the reward they will get, they need to study the reputation of the project they are promoting and only promote if the project has proof that it's legit or less likely become a scam project.

Shadidalam1111

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if the project turns out to be a scam even though the costs incurred for sending are very large but they have received a sum of money received from investors when selling tokens.

Rustamm

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If the Ethereum blockchain is used, then the price of each transaction can still be minimal, but not free, for example, as in the TRON network. If we are talking about scammers, then for them a couple of hundred dollars is a penny, because they are focused on receiving several million dollars as a result of a scam ICO. Often, scammers have seed capital to organize the appearance of work, so do not be surprised at this.

freedomgo

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It's cheap because we are seeing more people are running a bounty, and they are only paying their tokens, so it's not costly for them.
They maybe have to pay for the transaction fee but it's not expensive if they will send it by batch.

This is the logic, it's okay for them to spend for fees even if you think it's high but they will make sure they will raise a good amount.
Most projects raise at least $100 thousand for their ICO, that's a big money already compared to what they will pay for the bounty hunters.
In the earlier times, they could even raise millions in ICO.

Aldrinx00

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Sending multiple transactions in a multisender app is cheap, the cost of sending those useless tokens are just a penny to what they will scam to the people who will fall to buy it on them without even thinking it's just a waste of money and time.

Ararbermas

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Yhup running bounty cant be cheap, but moslty scam project nowadays don't distribute any other crypto currency when it comes payment for all members .wherein it always their play money.

They accept other coin only such bitcoin and eth especially when there are some participants buying their coins. But when it comes paying for the team members, they don't want to waste few dollars from their pockets, just play money.. That's is my experience as a graphic artist on some projects. Working for one moth and what i got? Nothing just shitcoin. Lol

jorenpo

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it cost nothing if your token has no value at all. dev just gave out token out of thin air we're just lucky that it gains any value.

fortunecrypto

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Quote from: tabas on September 08, 2019, 04:17:13 PM

AFAIK you need to create contract like this website: https://multisend.co/

So far this is the best option for developers and not only developers and bounty manager but the community as well to use when sending tokens to multiple addresses, it's time-consuming and saves you a lot of time and fund, kudos to developer of this application, this is one big help for the community in general.

Lauren Smith

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Quote from: ?? on ??

To send token to multiple address, some Devs is using this address multisender.app. This is now clear to us that the cost of running bounty, when devs can't bear this cost they left project from doing development.

I saw I was paid a bounty a month ago and the dev used multisender.app thank you for bringing it up though. I had a look at it but don't seem to be able to find out how to work out how much the gas will cost.

Quote from: setialovers on September 10, 2019, 02:11:49 AM

Quote from: H1N1 on September 09, 2019, 11:55:14 PM

If they hit the hardcap target in their token sale, the cost of bounty will be nothing compare with the amount of raised funds.
Usually the cost or allocation for bounty campaign is only 1-2% of token supply, so i think it won't cost too much.

Indeed, most Developer teams allocate no more than 2% of the total sales of tokens for the budget bounty and I think this is not too large although there are some projects that allocate more than that but not more than 5%. Bounty budget, in my opinion, is like a marketing budget, but it is distributed to bounty hunters so that it is more effective to boost transaction value

I agree. It is the marketing budget. Promoters/bounty hunters help with that. Companies spend a lot of money on marketing. They spend more on marketing then anything else.

mika11

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That is easy for people who know IT

xOdiumNostrumx

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I doubt its that bad. The airdrop tokens are free, they have cover only ETH transaction fees. And if they are indeed serious about their project, they have to have some starting capital, so 200$ or 300$ for gas is a steal when taking into account that they are getting "free" marketing from bounty hunters.

setialovers

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Quote from: H1N1 on September 09, 2019, 11:55:14 PM

If they hit the hardcap target in their token sale, the cost of bounty will be nothing compare with the amount of raised funds.
Usually the cost or allocation for bounty campaign is only 1-2% of token supply, so i think it won't cost too much.

Indeed, most Developer teams allocate no more than 2% of the total sales of tokens for the budget bounty and I think this is not too large although there are some projects that allocate more than that but not more than 5%. Bounty budget, in my opinion, is like a marketing budget, but it is distributed to bounty hunters so that it is more effective to boost transaction value

herurist

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Quote from: H1N1 on September 09, 2019, 11:55:14 PM

If they hit the hardcap target in their token sale, the cost of bounty will be nothing compare with the amount of raised funds.
Usually the cost or allocation for bounty campaign is only 1-2% of token supply, so i think it won't cost too much.

Yes, it is not worth what they get from the sale, to send a token it only needs gas that doesn't reach 1ETH.

H1N1

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If they hit the hardcap target in their token sale, the cost of bounty will be nothing compare with the amount of raised funds.
Usually the cost or allocation for bounty campaign is only 1-2% of token supply, so i think it won't cost too much.

stadus

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There might be some GAS needed to send but that is not costly, if a project failed, it doesn't mean they don't raise anything, they just failed because they didn't manage to raise their minimum cap.

I don't know how the other manages their project during post ICO when they only reach a small amount of money, maybe some still continue to run the project despite the lower chance of success as they don't want to give refunds to investors, and they have plans to just scam the investors by fabricating reports about the development of the project where the funds were spent.

danggoron

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From some other members' responses, there are indeed applications that can send tokens in bulk quantities and may cost less for contract holders. The developer has provided a budget for this, including bounty management. Sometimes, the bounty manager is also paid with a similar token for the bounty, if it's not valuable then the bounty manager does not get rewarded according to his work, but conversely, if successful then it is very profitable.

Jenkins33

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Quote from: Lauren Smith on September 08, 2019, 03:07:08 PM

Running a bounty can't be cheap. For every person participating you have to pay a fee. For telegram and airdrops, how do the devs afford it?

10k airdrops at 1 cent is $100 just for one round. That sounds costly to me. I also doubt a transfer would be so little as 1 cent.

What makes me wonder even more is how do devs that give up on their projects or let them die still pay out their bounty? Some scams even payout their scam coin which must cost them 100s of $$

Is there something I am missing? is mass sending eth tokens cheaper then I think? Maybe someone with some experience in send to multiple eth addresses knows. You also need to use a special service or have the know-how to send to multi addresses as well.

Developers do everything original. They promise to send you an airdrop, they promise to pay you for participating in the bounty campaign. And many devs pay with tokens of their projects, which are of value only if the project has collected the necessary amount of investment, placed its tokens on the exchange and continues to implement its roadmap.

disconnectme

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Are you serious? the reward is much more worthy for the developers than the fees, if you are talking about paying fees on Ethereum you can pay low fees and it is just going to take time to get it confirm, but that is non of your problem the main thing is for your project to succeed and when it does, is a win-win situation for the both the team and the hunters.

5thFear

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It don't cost much to run a bounty. compared to what they can achieve if the project becomes successful, its very very low. And whatever they have to pay, they pay in the same tokens so they actually do it for free. Almost free if not totally free.

lolxxxx

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Well I have managed some of the campaigns and helped some of the managers so in my thinking and observation nothings costs the owner of the project for running a bounty only the cost is paying the manager and any other working person with the project all other enrolled users are paid with the tokens which are of no worth at that time sometimes it does not worth later also... Sometimes the owner also sign a contract to pay the manager or managers to pay them in tokens so it costs nothing...

serjent05

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Quote from: DarkDays on September 09, 2019, 01:10:34 PM

Quote from: Lauren Smith on September 08, 2019, 03:07:08 PM

Running a bounty can't be cheap. For every person participating you have to pay a fee. For telegram and airdrops, how do the devs afford it?

10k airdrops at 1 cent is $100 just for one round. That sounds costly to me. I also doubt a transfer would be so little as 1 cent.

What makes me wonder even more is how do devs that give up on their projects or let them die still pay out their bounty? Some scams even payout their scam coin which must cost them 100s of $$

Is there something I am missing? is mass sending eth tokens cheaper then I think? Maybe someone with some experience in send to multiple eth addresses knows. You also need to use a special service or have the know-how to send to multi addresses as well.

Since when is sending 10,000 transactions for $100 expensive? That's incredibly cheap, can you imagine trying to send 10,000 individual payments with only $100 in network fees using any other payment platform?

For most people living in a developed country, $100 or even $1,000 is basically negligible. For companies looking to raise upwards of $1 million, they need to expect to spend a decent chunk of change initially marketing their project.

Scam project does not intend to pay more than their profit, same goes to the legit projects. So I can say the cost of running a bounty campaign is almost negligible to the developers side. Most project that failed their ICO never distributed their token and declared ICO failure thus making an excuse to not distribute it. While scam projects that collected money from investors already in a profit so spending hundreds of dollars for token distribution is not an issue for them. But for those legit and strong project, they spend hundred thousands of dollars for this campaign sadly, this is a rare case now aday.

DarkDays

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Activity: 2030

Merit: 1189

Quote from: Lauren Smith on September 08, 2019, 03:07:08 PM

Running a bounty can't be cheap. For every person participating you have to pay a fee. For telegram and airdrops, how do the devs afford it?

10k airdrops at 1 cent is $100 just for one round. That sounds costly to me. I also doubt a transfer would be so little as 1 cent.

What makes me wonder even more is how do devs that give up on their projects or let them die still pay out their bounty? Some scams even payout their scam coin which must cost them 100s of $$

Is there something I am missing? is mass sending eth tokens cheaper then I think? Maybe someone with some experience in send to multiple eth addresses knows. You also need to use a special service or have the know-how to send to multi addresses as well.

Since when is sending 10,000 transactions for $100 expensive? That's incredibly cheap, can you imagine trying to send 10,000 individual payments with only $100 in network fees using any other payment platform?

For most people living in a developed country, $100 or even $1,000 is basically negligible. For companies looking to raise upwards of $1 million, they need to expect to spend a decent chunk of change initially marketing their project.

erep

hero member

Activity: 2282

Merit: 589

I think the cost of sending bulk tokens is not too expensive or they use special services to send mass tokens to thousands of bounty hunters, this is done to get a positive response to bounty hunters to avoid indications of a planned scam because bounty hunters have a big influence on Telegram group conversations.

zabir.brutov

jr. member

Activity: 280

Merit: 2

If a project went well and collected some money, they can offer themselves to pay out the fees that is not even a problem. So they are looking great in front of their community by sending worthless tokens and are leaving with all the money after several months of acting.

Dewi Aries

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Quote from: Lauren Smith on September 08, 2019, 03:07:08 PM

Running a bounty can't be cheap. For every person participating you have to pay a fee. For telegram and airdrops, how do the devs afford it?

10k airdrops at 1 cent is $100 just for one round. That sounds costly to me. I also doubt a transfer would be so little as 1 cent.

What makes me wonder even more is how do devs that give up on their projects or let them die still pay out their bounty? Some scams even payout their scam coin which must cost them 100s of $$

Is there something I am missing? is mass sending eth tokens cheaper then I think? Maybe someone with some experience in send to multiple eth addresses knows. You also need to use a special service or have the know-how to send to multi addresses as well.

I think what really cost them is ETH fees. And usually from what i see, developers use their money if not reach softcap. Because it means they must refund investor's money. Or sometime use money that already raised from ICO. So, actually they not use their own money to pay fees because it is already on their use of funds. About this one usually they already put in their whitepaper.

patz22

full member

Activity: 1176

Merit: 104

Once they pay bounty hunters it doesn't mean that it will cost a lot especially with the token that they just created and without any value so meaning to say, they just need to pay the gas and of course, using the funds that were collected during ICO or IEO or crowdsale. That actually depends because most bounty managers are being paid using the tokens as well.

lillobo

member

Activity: 214

Merit: 10

Running a bounty wont cost much. Because nowadays even the bounty managers accept payment in the tokens and creating
tokens are not that costly.There are devs who do that for 20 dollars. For distribution of the tokens they need some eth in their wallet. Thats it.

efxtrader

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Quote from: Lauren Smith on September 08, 2019, 03:07:08 PM

Running a bounty can't be cheap. For every person participating you have to pay a fee. For telegram and airdrops, how do the devs afford it?

10k airdrops at 1 cent is $100 just for one round. That sounds costly to me. I also doubt a transfer would be so little as 1 cent.

What makes me wonder even more is how do devs that give up on their projects or let them die still pay out their bounty? Some scams even payout their scam coin which must cost them 100s of $$

Is there something I am missing? is mass sending eth tokens cheaper then I think? Maybe someone with some experience in send to multiple eth addresses knows. You also need to use a special service or have the know-how to send to multi addresses as well.

When the developer team holds a bounty program and also an airdrop, they have a goal to introduce the project in the hope that an investor will enter. I think they have calculated how much they spend and what they will get. They pay with their own tokens and it is cheap because they make it themselves, while investors are disadvantaged because they buy with coins that are already on the market and have value

hatshepsut93

legendary

Activity: 3024

Merit: 2148

The days of ICO devs paying for bounties in hard coins like BTC or ETH are long gone, now they just create shitcoins out of thin air and use them to hire cheap labor, aka bounty hunters. There is a hidden cost to that, because bounty hunters will dump their coins asap, thus lowering the value of dev stash, but it's a very small cost, because most of the profit of ICO scammers comes from selling tokens during the ICO phase.

Ferris419

hero member

Activity: 1008

Merit: 501

Bounty management fees are very little. Some bounty managers take only 100-200 USD weekly and some take even 50$ to manage a bounty thread and the sheet! So, it's very cheap. Project allocates 1-2% of total supply for the Bounty marketing If a project got success, those 1-2% token get worth, otherwise those allocated tokens are totally valueless!
I hope you got the answer!

asajapheth

jr. member

Activity: 76

Merit: 4

Bounty creators are usually more concerned about the exposure and positive outcome that may result from conducting a bounty. The bounty fee itself is more of an investment. They'd have to pay Devs, managers and participants, but that is hoping that the bounty would be successful. It would definitely cost a few hundred dollars for management.

Classica35

jr. member

Activity: 518

Merit: 3

A developer who wants to send tokens to those who helped him in the promotion of his project should have known from the onset that he has the responsibility of using gas to send his token to the respective people who deserve it. Also, the way the smart contract is designed determines how much gas will be utilized.

rdluffy

legendary

Activity: 2366

Merit: 1408

It depends of which method and which coins devs will use to pay
If they pay with their own coins, there is just a little cost for them, but if they pay with BTC, they probably did some sale to get funds
Everyone have some different aproach to run their business

7788bitcoin

legendary

Activity: 2282

Merit: 1023

Quote from: Lauren Smith on September 08, 2019, 03:07:08 PM

Running a bounty can't be cheap. For every person participating you have to pay a fee. For telegram and airdrops, how do the devs afford it?

Since you are talking about alt coins, i can very well tell that the tokens the owners are providing are cheap because the valuation comes from the amount they say. I have not seen any airdrops or bounty payments in bitcoin which is the real value and if any team is doing that, then you can trust them as they are putting real money to conduct these bounties. I have seen some bounties paying in bitcoin but majority of the bounty campaigns are paid through their coins which has zero valuation.

Bountyhonter

member

Activity: 406

Merit: 10

Paying out of bounty tokens doesn't cost much it only requires the gas fee and the tokens which the dev already have and for scam projects they use out of the funds they scammed from people to pay the gas for the token transfer.

There are smart contracts capable of sending to multiple wallets at once making the transfer fee cheaper.

pixie85

hero member

Activity: 2184

Merit: 531

They are betting money on their bounties and airdrops being successful. They could go to a casino and bet there but they prefer to give money to you and hope for bigger returns. Many teams don't spend their own money but have early investors who are helping them finance the projects for a bigger share of tokens.

100 dollars is nothing. I know people who drive cars worth 50 thousand and they are just normal people who have families and jobs. What makes you think a coin dev doesn't have that kind of money?

tabas

hero member

Activity: 3024

Merit: 745

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$100 isn't really costly for the devs if they actually gathered hundreds of thousands to millions of dollar during their sale. The portion of bounty budget allocation is just a small amount to the whole that they've collected.

Quote from: Lauren Smith on September 08, 2019, 03:07:08 PM

Maybe someone with some experience in send to multiple eth addresses knows. You also need to use a special service or have the know-how to send to multi addresses as well.

AFAIK you need to create contract like this website: https://multisend.co/

nutriagrigia

sr. member

Activity: 1270

Merit: 254

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at the time of sending these tokens, they cost nothing for those people who create their own coin or their own project. they stop working on the project if they fail to develop. it happens in any business

Lauren Smith

sr. member

Activity: 1050

Merit: 277

Running a bounty can't be cheap. For every person participating you have to pay a fee. For telegram and airdrops, how do the devs afford it?

10k airdrops at 1 cent is $100 just for one round. That sounds costly to me. I also doubt a transfer would be so little as 1 cent.

What makes me wonder even more is how do devs that give up on their projects or let them die still pay out their bounty? Some scams even payout their scam coin which must cost them 100s of $$

Is there something I am missing? is mass sending eth tokens cheaper then I think? Maybe someone with some experience in send to multiple eth addresses knows. You also need to use a special service or have the know-how to send to multi addresses as well.

Topic: The cost of running a bounty? (Read 516 times)