Topic: Would you agree to insure your participation in the bounty company? (Read 219 times)

IHMO, I think that was a complicated process I believe there is another way to make it more simple like what Bounty Detective was doing some of there bounties are already guaranteed in terms of payment because the budget is already in their position thats why insurance for bounty campaigns are not needed anymore and thats what I believe.

I just do bounty as a side hustle, I am back to trading which has been very profitable, so I realised I have been missing out on the recent Cryptocurrency gain. I won't join any bounty insurance, I will rather careful select bounty to join and faithfully execute it with an open mind.

Well, there are holes in the logic .

If the bounty insurance is a thing, they could make any coin or token they want, they can promise a ton, they could pay up the insurance fee and as expected (because planned) they would say bounty failed and collect money from it.

Simply do this over and over again with enough people and you can dry the insurance company down to bare bones.

This means they would have to insure only certain bounties, they can't do it all the time to all the bounties. Which means they have to check what is the likeliness of a bounty to happen or not, which means knowing something they possibly can't know for sure, but just guess. It is an idea, but it is an idea with a lot of holes in it, if you fill those holes maybe it might work.

That is why we need to work with bounty manager with a proven track record bounty manager that will escrow the tokens for bounty hunters after the crowdfunding, than working on a newbies manager, we have seen Bubbalex and Bounty Detective guarantying payment to the bounty hunters, and this is good also for the campaign

For bounty hunters who just want to work with bounty programs only this option they will take it because many times projects turn out to be scam or they do not get anything for those token as it does not have real market value in the end. So, this will give the satisfaction that in the end you will get something, and it will be worth the time and money.

It sounds convincing though, but what has gotten bounty participation to do with insurance.  Paying some amount for bounty insurance is just a cunning way of gathering some funds from the hunters.  Does payment of bounty at the end of the day guarantee a good listing price?  The insurance I think they should do is to guarantee reliable listing price, at least the base price they used to target at the beginning of the bounty.  If that doesn't occur, the hunters should be paid to make up to that price.

I just prefer not to participate in doubtful bounty compains

is the insurance company real or you only use it as an example? that can be the first if ever.  i like it for the hunters because i felt sad when theres a hunter complain for not being paid . except for the payment part but thats how insurance work ? never been involve on it so i dont know . the pay part makes me worried because what if its a scam ?  and the bounty also ? we can get double scammed if that happens .

Well I cannot deny thay bounty hunters needs some kind of insurance to hold on to. But it all depends on the projects themselves. Whether it's a successful projects or nah. Having an escrow to hold the payment might be a pretty good idea, but how many bounties are willing to do that? The distribution of the payments were all in the teams' hands. No one knows whether or not it will have price.

The thing is, they don't really care about paying us, they got what they need which is your hardwork of advertising their product. It's all their call to pay you on time or not. Bottom line is once you committed of becoming a bounty hunter, then you need to know the risks of not getting paid or underpaid and so on.

I salute you when you don't like the idea of bounty hunters, but what you should know is that not all hunters have the same idea, because the bounty hunters here don't come from the same place, so don't assume all of them are the same.

Cartesi is a good project just like GOLD but why need to put fee when the company can just pay directly the Hunters?
even with small amount compared to the promise of scammers,yet at least Hunters can have their Payments each week ,things that hunters will probably love to work with because of payments assurance?
exactly my point.Bounty hunters tend to earn and not to spend,scams will still happens no matter how good the projects look like,so better pay the hunters weekly or don't start a bounty at all.

I also do not like the idea bounty hunters do not know if the price will take off he will be paying with his own coin to a useless coin, and this will be another scheme developers will launch projects because of the bounty hunters fee not on the platform that they are going to set up

The Bubbalex manager campaign already agreed to pay 3 times transaction fees, why bounty hunters should pay to receive rewards. Teams should focus on price instead of transaction fees. Wapinter campaign name: Dogdata didn't pay transaction fees to complete distribution. For some projects these rules could be worthwhile.

Insurance company would certainly like this, they have nothing to lose as they are the one who will create the rules in favor of them.

The question only lies to the bounty hunters as we are the one who will pay for the premium and since bounty hunting success is quite low, now, ask yourself, are you willing to pay a high premium just to get your bounty reward insured? And if you get your reward, how sure are you that you'll be able to sell it at expected price that your proceeds is higher than the premium you paid to the insurance company?

Firstly, I don't think any insurance syndicate in their right mind would ever insurance a bounty, unless you're going to pay 99% of the reward ever time.

They don't give the slightest damn about the measly sums handed out in bounty campaigns, nor do they have the time to form a bespoke deal with every campaign manager and bounty clients.

Bear in mind that most bounty hunters aren't even willing to fork over their KYC to register for high-quality bounties, so they're certainly not going to do so to insure their participation.

They also don't understand risk and reward, or they wouldn't be participating in bounties in 2020 to begin with.

It is a very good move, if the fee will not be a pain in the ass  again. If this is also guaranteed, then fine. Although, I will prefer to be paid in a coin that is already traded. Also, I feel most might not want to be part of this, but I as for me, I am in.

That means the key should be on the escrow and it's not about the insurance for the hunters. AFAIk if so many threads have already discussed the potential for the project that will be using escrow in the future but the answer is always the developers were rejected to use escrow.

Bounty hunters will pay the fee in order to have an assurance of getting paid in the end? Its not fair.

They deserves to be paid for their hardwork and effort for spreading awareness about the project.

But it will only be paid off if you participate in a worthy one.

what ?? bounty participants have to pay and even like investors. this is so LOL
a bounty participant is like a war soldier, standing in front of promoting the project steadfastly every day, should be paid a fair wage not a paying participant .. it's not worth it and it sure won't be that many bounty participants will participate because they don't agree

Your scenario doesn't apply in crypto though, so your argument is wrong in the beginning, specially your point #1. I'm sure you know that crypto is decentralised, so there's no central authority. Your point #2 is also invalid, project do ICO to raised money, they don't have hard currency obviously that's why they are offering tokens, but there is a catch, it's either it could have value or not. And that is why bounty hunting is at risk, it's either you win or you lose.

Why there is a need to pay a fee? that doesn't make sense if the bounty hunters have to pay for their participation. That's not the kind of thing that they are used to. Paying a fee for a entry looks like the typical scam employment, where the employer would ask you to pay a fee so that you'll get a guaranteed job. It is what I think and I think that's not going to work for those who know that kind of trick but the newbies, they are likely to fall from it.

it is strange and it seems that I don't agree with insurance for bounty campaign and prefer the traditional way, namely DD because all this time with DD we actually have also been paid, it's just that the results of DD sometimes just don't match when we receive the payment, but that doesn't matter.

After reading all your answers, I came to the conclusion that they did not quite understand me correctly. I will try to explain.
1 You do not insure in any way from those who are associated with the project that you will advertise, it must be an independent company, I gave the example of Lloyd's corporation. They don't depend on anyone. For example, if you are the owner of a seagoing vessel chartered to carry cargo, it would never occur to you to insure the ship and the cargo from the owners of this cargo, after all. You will contact Lloyd. And they will never insure a leaky galosh for any money.
2 All settlements must be made in hard currency and the security deposit and payments in case of failure of the company. Calculation of the payout price based on the price of the token for ICO or IEO. Who needs tokens that will cost nothing, I have hundreds of them in my wallet.
3 Is it really a pity for someone to pay a few percent of what you can be guaranteed to receive. After all, for this, we will receive a guarantee that the specialists will check the project for cleanliness, study the managers, and everything that is needed very thoroughly, insurers will risk no less than ours. Having lost their considerable money, they will be able to find and punish the fraudsters in full, so that there is no more desire to cheat.
4 When buying tokens before listing on exchanges, we also don't know where their price will go. We assume that this will be a successful investment because we have thoroughly studied the project. Therefore, here too, we assume that the price will go up, and we will earn. But there is risk everywhere. This is what we pay for.

It sounds a little strange to me. I have to pay to be paid later for my work. In addition, if the project fails, I will be in the red - without a certain amount of money, my time will be wasted and I will have a certain amount, of possibly useless, tokens.

There's no doubt that Escrow is the best option when it comes to bounty rewards. The point is that, in a situation when every other factors are silent and you have to either insure your reward or nothing. This is not a real life scenario. No insurance company would want to insure any bounty when even the bounty hunter is not sure of the reward.

It will be worth if the payment is in bitcoin or ethereum or else the tokens means its just a shit idea and no one is going to risk money from their pocket to get useless tokens.If someone wants to ensure the payments from bounties better suggest the escrow which is cheaper and the pay will be from the team not from the participants.

I'll love to insure my participation for a bounty, if the reward is fixed and the insurance would guarantee that I'll get my reward, but I can't insure for tokens rewards, the reward has to be in btc or ethereum, since I know those coin have a long term validity. Insurance would take care of the headache of ensuring that I get my reward, while I just wait for my payment at the end of the period.

Bounty is no longer as profitable as it used to be. The main reason for this is that the number of participants in Bounty has increased a lot, the number of participants has increased but the number of investors has not increased. So Bounty is not profitable now. I do not agree with the advice you are giving.

Because when you join Bounty, your job is to complete the task and get paid at the end. If the project is not successful then the token is useless. And there will be no benefit even by escrowing useless tokens.

Participation in bounty now became a hard to earn a good money. After a two months of work, sometimes based on stakes we get less amount as payment. But in some bounty we get good money as a payment. It will help us to get a livelihood at this corona time. Many people qho doing normal job apart from online had lossed their job.

Why are they paying a fee when participating in bounty? They spent a lot of time and used various tools to promote the project, so projects need to pay bounty hunter without forcing them to deposit money or do anything else. If bounty needs to send an amount money to participate, it is better to use that money and invest in altcoins in this market.

Sorry but this method is for desperate bounty participants only. Paying fee inexchange of  guaranteed payments? Its unusual way, a weird assurance and a suspicious method. It will just lead to misunderstanding, we can't prevent to think that paying fee's a way to scam participants.

Unsure projects, that's very normal nowadays. It's the reponsibility of bounty participants to choose  a good projects and not with the unpotential ones. I also agreed to consider some escrow services for assurance of payments so the participants efforts will not go to waste.

I personally don't agree with what you are suggesting for this, because in my opinion when bounty hunters pay bail, it is not certain that they will give the reward that can be expected according to the existing agreement, not only that if the project fails, or the project is a scam. We didn't get any prizes and the security deposit we used just disappeared. I think your idea is very bad and poses a huge risk to bounty hunters.

I would agree to be insured against not distribution and project postpones to get listed. As a bounty hunter, I would agree to pay some percentage of my rewards for that. Question is - who will take that risk? Bounty projects ? That is stupid. Be insured by same person I'm taking insurance of. Some reputed forum or cryptocurrency member? Who will take that kind of responsibility?

Paying fee for payment guarantee? How will this work without you getting scammed yourself? When it comes to paying money first it's a big red flag waving in the sky, it's better to find escrow bounty Campaigns

Am I the only one who disagrees with that? In my opinion, being a project promoter does not always get a definite payment, especially if you have to pay even if you get a remuneration payment guarantee. in my opinion this is not a good idea, the profession of being a bounty hunter is of course to receive free tokens then exchange them into money.

What good are the tokens if the project isn't successful? You will be trapped with a shitcoin in your wallet anyway, this is why I don't 100% rely on escrow bounties because not all of them are good, it's still down to the quality of the projects.

What fee are you talking about? Cartesi participants for example never paid any fee, they joined and promote for free and get paid for their work, any bounty asking for few is a scam, stay away from such project

There are different kinds of bounty failures right? Examples are ICO failures or a company scamming the bounty hunters. In this case, escrows would be pretty much useless since the token that we would get is useless.

I think the question here is that what kind of compensation would we get from that insurance? Are we going to get the same useless tokens? or are we going to be compensated in Bitcoin? Because if a reputable company somehow does this, the chances are we are going to get quality projects that would most likely pay.

I'd consider this as long as the terms are reasonable to the point that bounty hunters can still profit.

This is a silly post who would want to participate in a project that you will have to pay just to promote a project, and what project will do that it sounds more like a scam give away where you have to pay first before you get your give away, I consider this project as a potential scam, fortunately there is no such project running now.

and most bounty hunters dont have money to pay for such fee. the reason why they are hunting in the first place. not a good idea for bounty hunting. better escrow the funds to reputable individuals here.  if a project will do such pay-first bounty program, i dont think they will get the necessary number of users here. or better yet, no one at all will be interested on the project especially if it is like a low-rate project

This is outrageous paying just to promote a project, I will never participate in a project that will oblige you to pay just to promote the project even if the project is legit, this should never be implemented bounty hunters suffers a lot from delayed, abuse and low paid and this is like adding insult to injury.

Bounty hunters joins the campaigns without payment now you wanted to suggest a payment for a guaranteed service. Im not sure if that will work cause they will ignore it. Usually hunters are doing promotional marketing to earn funds but of course they hesitant if the campaign launched has payment.

I remember there is a project asking for payment for the bounty tokens. Thats suck to know cause you need to cover the fee. It shows how poor is the project it is.

Do you think this will be implemented? it's just useless. Rather than Insurance, escrow is a best way to avoid getting scammed. Scam project never care about that, if they can't get reputable manager... they still can get a newbie manager or not using campaign manager. Also bounty hunters doesn't care and still joining scam bounty

Scam in bounties will never stop, it's your choice and risk become bounty hunters.

Bounty participants would readily agree at current situation where 90% of them get no or substandard reward for their effort. It would be like insuring their work.
On the other hand investors would want a real profit, they would not like to hear something like compensation for your loss. But still it's amazing how so much people invest in obvious scams. It's better to keep your money on bank than to risk it on a project that you are not confident of.

what we need is not insurance, but escrow. insurance may be good but for rewards that we do not know the price is something that is detrimental. it could be that the insurance fee is more expensive than the token reward price that we get. there are many projects like this the price when the market does not match the time of tokensales. So insurance isn't that great. and escrow is the right choice, with this the project team will not go around.

I don`t agree, why? Because when there is no insurance, we have been scammed no matter how the project seen by the people. Scammers will take it as their advantage in order to fool people again. They will always front the words insurance and people will easily joined them.

If I will modify the system of bounty hunting, I want that every project will release payment half in bitcoin and half with their coins. And they should pay the half first when the bpunty was done. But I know it won`t happen after all.

Agre all not, all depends on the type of bounty, term condition and your self. Because we doesn't know the type of project/bounty why they need a fee and for what's, also all depends on your action. Fells free not to join the bounty when you doesn't agree to payed some fee and other things by joined their project, not every project want to always same as other.

There a few action why the team project asking about fee, could be they asking a small tx for looking some cheating participating by see from who is the sender address. Cheater will be hard and spent so much fee by doing the transaction also if we see too from the sender address that's would be more hard for him to always using fresh sender address every transaction he made.

I think such a service should be helpful and hunters would be able to work and perform the tasks with complete peace of mind because they will be sure to get paid but i think the fee should be negligible or really low for bounty hunters while for investors it can be slightly higher.

Lol, bounty hunters shouldn't pay a fee for a guarantee payment. The project itself should be the one who need to take care of it, that is if they are not scammers. However, for the legit ones, I don't think we need such kind of setup though.

And I would agree as what @Baofeng said, bounty managers should ask the project to escrow in advance the tokens or at least the payment scheme before accepting the job to ensure that we (managers and participants), are not going to waste time handling and promoting that project.

Nah, that's too far fetch though in my opinion. I think the best way to handle this is let the bounty manager escrow the funds or the tokens for his campaign so that the bounty hunters are going to be paid in the end. Why would you have to pay a fee then when you they can just escrow it? Doesn't makes any sense to shell out money in the first place. Your job is to promote as bounty hunters and getting paid in the end.

It looks, of course, it's a little fantastic, but why not. Imagine for a second that let's say, purely hypothetically, Lloyd Corporation, which has vast experience in insuring unusual and unique risks, offers bounty hunters to ensure their participation in a bounty company, for example, such a project as Cartesi. You pay a fee, depending on the risk, and in return, you receive guarantees of payment of remuneration for the work done, even in the event of a bounty failure. It is interesting to hear your opinion, do you agree to such conditions? Something similar would apply to investors.