Bitcoin Forum

What is every ones thoughts on this article at hackernoon? - https://hackernoon.com/rest-in-peace-ico-bounty-programs-fc1e1e04e867

Personally my thoughts are, what is different if I share information from a bounty on social media etc then if I share a affiliated link eg.Coinbase? I will be getting paid either way.

I feel it's up to people to make their own judgement on if they want to buy a product and do their own research. Advertisement is all over social media and plenty of dodgy big companies using facebook ads to promote their crap.

I would prefer to see the SEC etc cracking down on scam ICOs etc

Anyway would like to know every ones thoughts?

I do not understand how they are linking the bounties with a scam ico, i mean it is the fault of the people behind the project or their intentions, so they should be held accountable and not the bounty hunters.

If SEC takes this line, then 95% of ICOs should be considered securities, because 95% of ICOs are running bounty campaigns.

I am really not getting it, though. Bounty money are just 1-2% of all the money raised. Why the biggest regulatory authority is going against the small guys, when there are much bigger and more concerning issues with scammers playing much bigger games.

Clearly bounty campaigners are not the ones to blame. And their profits are nowhere as high as what traders or miners get. Seems like while being unable to regulate the whole market they decided to pick an easy goal to show off.

Yeah it doesn't make sense to me either. Maybe it's more of a click bait article then anything but it got me thinking, then annoyed, so i thought I would get the thoughts of the bitcointalk forum about it

dont they know stellar, dont they know ripple :) they dont know anything to write a news like this? I belive this guy from facebook or google. they just want ICO adv on their platform

I think he is partly right- bounty programs, as they are now, will be in the past soon enough. BUT- I do believe this tool is more powerful than affiliate links, and a change of the process will benefit the ICOs as well as the hunters.

Why it's better than affiliate link?  cause most affiliates are not crypto ppl, but marketing ppl. they might get people to invest, but I think it's harmful.

I agree with this. Its like going to arrest Facebook for advertising a product where there is already a disclaimer on the reliance on such information. I have seen ad on Facebook before and I just know they are outright scam. Going after bounty hunters is an exercise in futility if the regulatory agency do its own job because it wont even get to that point if they are serious of getting the bad guys. But at the same time, it should be a form of warning not to be carried away by free things not to land in trouble.

This article doesn't makes any sense to me. Why should bounty participants be guilty because it is a job that they are doing and getting paid for.
There are certain rules and restrictions for the program and everybody who participates in it has to follow it. If at all anybody has to be criticized it has to be the ICO owners because it is them at the first place to invent such programs. The bounty participants are just doing a job which they have been said for. This is a part of marketing strategy and has been going on for a long time. I think this article was just posted to create a FUD.

This is akin to calling all ICO scams or all marketing agencies scam. It really us up to individual to do their own due diligence. The culprit us the people behind the ICO itself, launching an ICO with nothing but an idea is outright scam to me.

I agree with this matter, you have a good point on that explanation. May be these companies are losing their customers because of blogging campaigns and other articles to promote ICOs

I will use another example.

So I go down to my local pub for a rare beer that i like to have. There's a hot promotional girl handing out cans of Jim Beam.
I have never drank Jim Beam but she is hot and I decide to drink it so I can talk to her. I have a drink and think wow this is nice.
A few months down the track i find myself waking up every day cracking open a Jim Beam and drinking till i pass out at night.
I'm now a alcoholic.

Can I now sue the hot girl who was doing her job and getting paid to promote the product Jim Beam because i'm now a alcoholic??

Just heard this news in facebook ICO will be gone soon like the other said..
Honestly i am not expecting about ICO since mostly they are scam i have lots of ICO token honestly and waiting to see them in the market that until now hoping to sell them and get benefits of them..   So i'm ok what will be happen in ICO's

lol... =))) your story made my day. we have too many ICO so people need promote their project to make sure everyone know about their project. that's all.

First of all the article is misleading from the line one 'The ICO bounty program era has officially come and gone.' What kind of joke is that? Second, We aren't working for free here. What's wrong in promoting a campaign with our hard work to get paid in some tokens which has no real value until it hit exchanges. This is just a jealousy article from someone who failed to earn in bounties.

yes bounty hunter just a worker that trying to get paid by ICO. if the ico itself is scam we need to blame the developer. but usually i dont even want to join the bounty of the ico that fishy. cause we as bounty hunter will paid for nothing if the ico itself is a scam or unsuccessfull

SEC thought if The world is owned by US.  ::) They have good enough to make another joke. Rather than complaining about the bounty and that depends on the personal opinion about that. So many times SEC try to banned bitcoin. But that's just another bullshit. US is only a country and not the world. Just like jamie dimon. how majority of the high profiles in US like to make a joke.

And I think they are lumping all ICO's with the scam ones, I really think that This is not necessarily to avoid because they might affect the paying ICO's they can see that every ICO has a motive, The thing here I think they need to not tolerate other ICO's that are just spreading scam tokens and not the good ones that providing people payment.

I agreed ICOs should be regulated but what about ICOs outside the U.S?

If its a bounty program and its Developers are scammers or fraudsters then yes you should stay away.
Otherwise, get involved and get those tokens. You can profit from good Bounty programs.

They should sue facebook, tweeter, google etc. for allowing advertisements of ICOs. They are the one that needs to be regulated but i doubt they would do that. Money talks.

For the record, no all IcO are scam, we have seen successful projects come and established. ICO bounty program has come to stay as long as altcoins is alive and entrepreneurs coming out with startups each and every day.

It is a rubbish news,bounty hunters only doing their job and shouldnt be the one to blame if the ICO fails.

All in all, it is quite an interesting article. It touches some regulatory issues connected with ICOs, tokens and as a result - bounty campaigns. In general, article is right that regulation of ICO in USA is becoming more and more significant and might hit ICOs hardly. It is not a surprise that ICOs could not exist outside of countries jurisdiction forever. Nevertheless, I am a little bit afraid that this state of matters will also spread across other part of the globe.

I also could agree a lot with another statement of the article - importance of REAL community. Currently, bounty campaigns are in most cases just a playfield for token hunters who gather tokens on massive scale and then dump them, making harm to ICOs which they "supported". That is not a proper support ICO and definitely not what they want and need. This whole situation is a little bit  ill. This is especially visible in big ICOs which has a lot of hype.

That is why I am trying to avoid those big overhyped ICOs with this "fake" support of community.

USA is becoming fachist everyday. Trump is destroying freedom in USA. Yesterday they started to limit internet access and freedom and now ICO bounties.
He is a dictator and destroying the "Great America"

What's the difference between holding a bounty program or paying a marketing firm to market for you? I see how this could be different due to a lot of financial investments being at risk, but advertising is advertising. You're still blowing your own horn and telling everybody how good you are, whether you are doing regular advertising or through a bounty. Both are biased somewhat. And they should be to get people involved...

Perhaps one solution would just be to have all bounty participants indicate on their specific bounty activities that they are doing this in return for coins. This could still get the word out but limit the risk of someone making a decision based on a biased review.

One solution would be to get "bounty hunters" who invest some pre-money into the ICO that will be used for advertising. And in return for that, they get some coins. Sort-of like a pre-sale fundraising.

In that way, the bounty hunters still get what they wanted, and at a much lower price than the regular ICO price, and the SEC can't nail them.

But I expect that this will actually only cover US citizens right, how do they intend to monitor anyways?

ICO could much more regulated without "mummy Government". People need to understand why societies formed human administrators in the first place. Some things  can be taken care of today without humans. Why any little thing we scream for Mummy Government? Are we kids?
Excellent mechanism could be built to wipe out fraud of any kind off the Internet. powerful tools are there already .. but for some reasons nobody cares.
The whole thing feels like a donkey- loving community refusing to give up donkey riding even when there are fast cars for quickers transportation.

We need to grow up.

Anyone know the percent of bounty hunters are US?  What would the impact be on the remaining hunters?  More stake?  Will ICOs get less funding?  It is an interesting scenario.

I think the crackdown will be made on ICO's themselves instead of on bounty hunters. So the US based ICO companies will suffer, and the international ones won't. I think US citizens might still be able to participate.

For me what they were saying is like all ICO's are a scam ??? No! So not all adds are shit!
And I can't see any wrong on advertisements, and they don't force people to go and join onto their project or bounty. The whole world is too big for them to propose their project on all of the people that might become involve, and we and the internet, social media's, etc. are just their medium. All what we needed is regulation, it is a must!