What can we do if a bounty manager did not pay the tokens as they promised?

jademaxsuy

full member

Activity: 924

Merit: 221

This man DdmrDdmr has a good logical reasoning. I just wondering where did he get that good thoughts in his/her post. I wish I could have some of it. Cheesy

OP, we grows old and but we never stop learning. Basing on the comments by some users here then maybe next time we should be aware now of some points on how to check ICO before joining. I know what you feel noe but we could not do something about it because the bitcointalk forum has no hold against the abusive team promoting the ICO. It may never be their intention to do so but think otherwise that this forum had no concerns about it for now. I do not know in the near future maybe they will conduct some screening and approval before ICO project will be posted alt section board.

Alluro

member

Activity: 742

Merit: 19

Most bounty managers can change their rules anytime. They have added that rule to the general rules on bounty thread. Some bounties are changing their allocation they do not reach the hard cap. This is not the only fault of bounty manager. Because most bounty allocations are changing by ICO team members. Most bounties are paying by their own token. When that toke hit on exchanges, we are not getting the actual amount. Because of sometimes that token price lower than ICO price on exchanges.

LTU_btc

legendary

Activity: 3234

Merit: 1375

Slava Ukraini!

Ok, now we got more details about your case. I think it's very dishonest action by this ICO. They are saying it was mistake in table - it's ridiculous, who can believe in such excuses. It's obvious that it was intentional planned decision to reduce bounty payments. There is open scam accusation against them, but unfortunately not much can be done now. Their crowdsale ended few months ago and they reached what they planned. Now people behind the project probably enjoying money collected during crowdsale
One suggestion for you OP. In future try to avoid bounties managed by people with Red Trust score. Bounty managed by trusted manager reduce (but not eliminate) risk of being scammed or cheated.

Theb

hero member

Activity: 1680

Merit: 655

Quote from: DdmrDdmr on November 01, 2018, 01:37:21 PM

There's a cheap message on their Telegram channel stating:

Quote

There was a mistake in the table provided as it showed allocation for all the campaigns and not this particular bounty campaign
There are more campaigns planned.
We will provide a bonus to the ones participating in future campaigns that participated in this one.
We are sincerely sorry 🙏 for the gross miscalculation

How incompetent can one be, not assigning the correct quantity? … or how machiavellian can one turn by reassigning the pool size upon distribution?.

The Bounty manager is involved in a couple of previous scam accusations judging by the comments on the Trusted Feedback. That wasn’t a good indicator to start with.. If you’re worried about your bounty tokens, imagine just how trustworthy the whole ICO is likely to be …

They probably planned it, from a million dollars down to a tenth of what they are originally offering for me it doesn't look like an unnoticeable "miscalculation" on their part. They probably did it in order to make their bounty campaign attractive to other people. Now that they have a lot of participants they made the necessary adjustments for their bounty campaign, this adjustments are obviously planned out as a business strategy. Yes it is dirty but you can't do anything about it as it is hard to prove that they did it intentionally.

DdmrDdmr

legendary

Activity: 2338

Merit: 10802

There are lies, damned lies and statistics. MTwain

Quote from: harp9 on November 01, 2018, 01:03:51 PM

<...> but they are reducing their token allocation. BOUNTY CAMPAIGN (1%) : 14,785,714 GBT ≈ ($1,105,000) to be divided according to the stakes accumulated.

Ok, so knowing now the bounty campaign involved (https://bitcointalksearch.org/topic/m.27482563 – GlobaTalent I figure), the scenario does not correspond to a legit (unfortunate) drop in token value, but to a blatant drop in token distribution due to shrinking the bounty allocated pool size upon distribution.

Looking at the thread, the campaign signatories are all exposing their cases, but it spreads further to people who have done translations (see https://bitcointalksearch.org/topic/globatalent-scamming-its-bounty-hunters-paying-them-70-times-less-5061279). People are being banned on their Telegram channel for complaining.

There's a cheap message on their Telegram channel stating:

Quote

There was a mistake in the table provided as it showed allocation for all the campaigns and not this particular bounty campaign
There are more campaigns planned.
We will provide a bonus to the ones participating in future campaigns that participated in this one.
We are sincerely sorry 🙏 for the gross miscalculation

How incompetent can one be, not assigning the correct quantity? … or how machiavellian can one turn by reassigning the pool size upon distribution?.

The Bounty manager is involved in a couple of previous scam accusations judging by the comments on the Trusted Feedback. That wasn’t a good indicator to start with.. If you’re worried about your bounty tokens, imagine just how trustworthy the whole ICO is likely to be …

harp9

copper member

Activity: 504

Merit: 1

Investment or What?

Quote from: DdmrDdmr on November 01, 2018, 10:45:42 AM

Quote from: harp9 on November 01, 2018, 10:11:11 AM

<...>

Normally, bounties are (unfortunately) paid out exclusively in their own token, and that is some time after the ICO has taken place and even hit some of the exchanges. When they said they were allocating 1,1M$ to the bounty pool, I figure it was at ICO price and in their token (therefore not in dollars really).

Likely, the token is now only worth a tenth of the ICO price, thus the bounty equivalent values is 0,1M$. The stakes therefore do not have the expected value since the token value has gone down the drain hitting the markets.

I figure that is the case, and therefore it is not a question of fairness really, but of a heavily devaluated token value.

but they are reducing their token allocation. BOUNTY CAMPAIGN (1%) : 14,785,714 GBT ≈ ($1,105,000) to be divided according to the stakes accumulated.

Hivalley

member

Activity: 210

Merit: 19

This is a decentralized system,and more so an anonymous one, so there is absolutely nothing you really can do about that..

And most times its actually due to a poor return,and turnout of the tokens when on sale in the market, so in a way or the other it most times isn't always their fault..

At best, you can spread news about their untrustworthy behavior,and open up a scam accusation against them,that way you'll be warning other investors against patronizing them, as well as reducing their popularity and trust levels..

But sadly there is no body to seek redress as to the unfair reduction in the payments proposed

virendarnagpal

member

Activity: 672

Merit: 12

The same problem I have experienced. In some campaign ; I was allotted just 50% of the coins. Some times it also depends upon the success rate of the ICO. If the ICO is success and the full reward is not given then it is cheating. But if the coins could not be sold fully and then percentage of share of bounty if brought down; then it may be OK.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

Hit them where it hurt the most - Give them negative feedback in public to highlight their actions, but give them a fair opportunity for a rebuttal.

Also if this is a obvious scam, then turn to the scam accusation thread on this forum < https://bitcointalk.org/index.php?board=83.0 > and report them. People need to know, if they are going to invest in a project, that their investment will be safe.

Make sure your facts are straight before you turn to these strategies. Sad

Screamshot

jr. member

Activity: 140

Merit: 2

FUTURE OF SECURITY TOKENS

The truth is that there is no law or regulation that binds bounty project owners to there commitment. Project allocation can be altered by project organisers at there own discretion it could possibly be due to low turn out of the ico sales or the number of bounty participant. The only thing that they have to lose if the don't keep to their words is there reputation. That's why it important that before venturing into any bounty campaign you check the reputation of the campaign manager.

DdmrDdmr

legendary

Activity: 2338

Merit: 10802

There are lies, damned lies and statistics. MTwain

Quote from: harp9 on November 01, 2018, 10:11:11 AM

<...>

Normally, bounties are (unfortunately) paid out exclusively in their own token, and that is some time after the ICO has taken place and even hit some of the exchanges. When they said they were allocating 1,1M$ to the bounty pool, I figure it was at ICO price and in their token (therefore not in dollars really).

Likely, the token is now only worth a tenth of the ICO price, thus the bounty equivalent values is 0,1M$. The stakes therefore do not have the expected value since the token value has gone down the drain hitting the markets.

I figure that is the case, and therefore it is not a question of fairness really, but of a heavily devaluated token value.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Is it fair? Probably not. But doesn't the funds they allocate for bounty rewards hugely depend on their crowdsale/ICO? Maybe they didn't just get that much sales/offerings, hence the lower total reward. Not 100% sure though, I don't personally do those social media bounties.

Is there anything you can do? I don't think so. They probably could just simply bail. You don't even know if the project itself is legit to start with.

Davil

member

Activity: 238

Merit: 14

Unfortunately this case is too frequent in the last year. I'm afraid that most of the times the only think you can do, if you're sure it's the manager's fault, who scammed the participants, is to give him negative trust and open a thread explaining your reasons.

In most of the cases, the members of the forum maintains their anonymity so it will be difficult for you to start legal actions against the shady managers, but you could try and depending on the jurisdictions they could end suffering the legal consequences of their actions.

I hope it helped. Let us know how the story ended. Cheers.

harp9

copper member

Activity: 504

Merit: 1

Investment or What?

Recently i had a bad experience.i worked for a bounty which claims to give $1105000 for bounty rewards .but now when distribution time comes they say that they are distributing only $100k for that bounty .

Is it fair to reduce the payments without any opinions from hunters?
Is there anything to do?

Topic: What can we do if a bounty manager did not pay the tokens as they promised? (Read 208 times)