Bitcoin Forum

The Article (https://medium.com/@speedshopperlist/crytocurrency-bounties-airdrops-and-exchange-talk-are-big-red-flags-893433ed1e39)
I wrote the article linked above on Medium.com and I'm curious to hear everyones thoughts.  I see so much about bounties, airdrops, and the rush to get coins/tokens listed on exchanges and see those as BIG red flags.
(Full Disclosure) The last 2 paragraphs talk specifically about our Token (Speed Shopper SSTX) and how we will operate differently from most, so if you don't want to see that part just stop before the last 2 paragraphs.

If you're feeling lazy and don't want to read it all just read 1 paragraph and I'll be glad to at least hear your opinion of that :)

Partially agreed with the article. Because from my view sometimes bounties are really great deal. Without promotion it’s quite hard to grab the market so why not make it interesting.

Very well written article that focuses on the hot topics like airdrops, bounties and reputation of cryptocurrencies. However, I think that, airdrops and bounties are used to promote coins and encourage people to invest on them rather than indicating that the coins have no value.

This article was a pure insight! It talks about in details, on the use of bounties and airdrops,, why should we not run around and switch between cryptocurrencies in fear of making a loss, as that should be our least of concerns, as time and paitence is key. It also gives further insights on a speed shoppers solution, hence, is a good reaf for anyone up for investing and gaining knowledge on the crypto world.

Nice article, flowed well.

I have to agree with what you're saying, mostly. I always look for a silver lining.

I think bounty programs and the like turn into shill fests. That being said, there are legitimate bounty hunters out there, making real value for companies, and being rewarded handsomely.

Now that kind of side steps the point of your article.

Why can't the company rely on their tech to get the word out, and funding?

All-in-all, I agree, and those are the companies I'll be looking for, and hoping they do a bounty program to aid their efforts.

But we can't deny the fact that we're still early to the blockchain industry, and like the internet, there are nefarious roots.

People are going to lose money whether bounties exist or not. Look at the stock market.

They'll hear "Bitcoin's on the rise, buy buy BUY!"

They'll buy the top, crap their pants, and sell the dip.

Few will figure out what happened, and figure the probabilities of what's to come.

Over time, people will wise up, and ICOs will slow down. Bounties will become more and more legit, to the point it's a massive hiring event with competent workers.

Red Flags? Sure.

Maybe, they're just indicators of infancy?

Time will tell.

Airdrops and bounties has both advantages and disadvantages. They can motivate people. But the main problem is the activities of the scam projects. So people should be careful while grabbing bounties.

I read the article that's was really information and will helpful for the new arrivals I would like to appariciate this kind of activities . different tools of cryptocurrency market is described here , how to operate it is clearly mention here, I hope people will shoe intereste over this kinds of things

I mostly liked the thing of Speed Shopper is the solutions they bring for average people. People across the world are already getting reluctant to shop in person. Hence, this project me seems the most concurrent projects for the industry.

And to limit the circle of persons participating in bounty campaigns, then the interest will come to many ISO.

The speed shopper token are very smart and helpful for business. Here people can add by using Ethereum blockchain. Blockchain system use more advance technology which are easier to transaction.

wow it's really Wonderful writing. Yeah I am also agree with you Airdrops and bounties are not so good for this industry. But airdrops are better than bounties.

Thank you for your valuable article link. I read out your article that is ameazing. There were a lot of information about Bounties and Airdrops. I think it will be helpfull for all bounty hunters.

It was really impressive that you wrote the article. Thank you for the effort you put into it. It will be really great for the newbies to know about these in simple words.

Great information for the investors and i think if they go this link and then they will learn more important information which is helps them to take any decisions.

Well partially true but it's basically a tradition now to have a Bounty/Airdrop or at least a signature campaign to promote your token/coin. It's true that they aren't really that great and although there are a ton of alt accounts in this forum it still has a ton of views. Again another tradition is to have an ANN thread here for your coin. Are those really needed? Maybe not but they definitely don't hurt. I think it has to do more with what percentage are they actually using for a bounty. Is it 1%? Then great, is it 70%? Then not so great.

This is a good article I think also it will help the new members because without knowledge you can't not do well in this market also you can suffer for this so before invest or doing something knowledge is very much important.

Good article you have there, but I do not totally agree that bounties and airdrops are red flags for some projects. Reason being that a lot of these ICOs need the publicity that the bounty campaigns and airdrops give, and also, people might not want to invest in a coin if it's not listed in any of the exchanges. People consider it a plus for a coin to be listed on the exchanges.

He do really have those points but things cant really be considered to be red flags. This is simply between the involvement of Project owners and Bounty hunters itself yet a certain project would really be needed to be marketed which means sticking up to traditional things wont really be bad. I didnt tend to read up the article yet im lazy enough but i dont easily believe to those projects or tokens do tell that they are different to others and they are trying to prove something but in the end they would still decide to follow the same path.

To be honest most of the biggest coins right now even offered bounties or airdrops while their icos or post ico marketing campaigns, for example, ripple paid thousands of coins per participant for promoting their project on this forum.

I think you've misunderstood this topic. Mostly people who can't manage to buy coins but are eager to join the community, participate in bounties and airdrops where they get valuable tokens as rewards. That way more people are successfully able to join the community and I think the coin developers are only providing a convenient and easier way for the eager users to join their communities.

I do agree with the part on Bounties and airdrops, I am not that convinced on the exchange part. While it is formally true that exhcnages don't add value but allow for exchange of value, we have to admit that in the current crypto scene being added to several exchanges (where some are better than others) gives coin credibility, popularity and a general belief that the coin is worth something. So as a matter of fact it adds value, moreover if your coin has value but there are no ways to buy it (exchanges) this value will never be reflected in a price increase (price that is by the way calculated as the average between exhcanges that list the coin)

These are the core of the crypto currency market. We do need to have a good knowledge about this market in order to have a good strategy. This article is good indeed for beginners to kick start their investments or even on the bounty hunting.

Article on the crypto market can be useful to the people. As they can learn a lot on the market. but it should be noted that the article must have legit information. There is an link to article given in the thread, it can be read and checked with other articles with similar topic.

I also agree, your opinion. Bounty projects help me earn a lot of money for myself.
Making things happen does not cost me much money to enter the crypto market.

Thank you for reading my article.  I agree that it could just be infancy indicators. That is indeed a silver lining or perhaps wishful thinking.

Bounties and Airdrops are simply a way for start ups to fund their marketing efforts prior to raising capital. They are designed to motivate people to do things that help with the marketing of the coin. There is no rule that says you have to do them. If you have the money you can always just pay for advertising. There is however one other thing that they indicate to potential investors that paid advertising does not. They show that enough people believe in the project that they will be prepared to be compensated for their efforts in the coin. I had a look at your project and the one thing that stood out is that you are a one man band with no one seemingly willing to attach themselves to your project. That would for me be a red flag and I would not participate in your bounty or airdrop if you offered one.

Thanks for reading my article and replying.  Bounties and airdrops don't have to be bad things, however giving out tokens/coins prior to them having a practical use, then listing your token/coin on an exchange is a massive currency dump waiting to happen.  Bounty hunters don't have to BELIEVE in your project.  The majority of them don't BELIEVE in the projects they promote.  They simply BELIEVE that they can convince others to BELIEVE in the currency and they BELIEVE that the currency will get listed on an exchange so they can dump them on others in exchange for currencies they BELIEVE actually have real value.  That is what we have been seeing play out over and over again.

I have chosen to be honest about the fact that I am the only full time employee of Speed Shopper at this time, but I am no one man band.   I work with a team of developers who are Independent Contractors and experts at what they do.  I also have investors who have helped me fund Speed Shoppers Development up to this point.  I could have asked my friends and associates to pretend to be my Employees and Advisory board to fabricate some sort of facade.  You've indicated that if I had done that, you would have perceived that others are willing to "attach themselves" to my project which would somehow make our token appear more valuable to you.  That is the kind of thinking that has caused so many to be scammed.  You don't need to check my company for a Team and Advisors, simply check the reviews of the Speed Shopper App in Google Play and wait for the release of the updated iOS and Android app and download it for yourself to see if you like it before participating in the token crowdsale.

You should ask yourself this question.....If a company can afford to hire a big, well educated, highly talented Team and attract the attention of prestigious Advisors, then why do they need to sell tokens or coins to the  to raise funds??  Also you must ask yourself why do they need so many people?   The only numbers you should concern yourself with as a holder(hodler) of the token or currency are transaction(not exchange related) numbers that show use case of the currency.   Speed Shopper will grow our personnel as needed, but right now we are quite efficient.  I hope you will consider downloading the upgraded version of Speed Shopper to be released later this month.

If a coin/token has value, there will always be a way to obtain it.  That's part of what gives it value.  Exchanges are not how everyone should be thinking about obtaining the coin/token.

For example, If I live in England and I can exchange goods and services for British Pounds then I care very little about exchanging my Pounds for Japanese Yen until I visit Japan.  The problem is people are creating their own "British Pounds" but there is no England! then they want to be able to exchange the Pounds for Yen and wonder why everyone is dumping the Pounds they created for Yen instead of HODLING and waiting for an "England" to be created.

I'm saying Build England then use your Pounds in England first, this creates value.....then exchange for Yen.

Exchanges do not give a coin/token credibility, it gives the coin/token visibility and yes popularity, but that is not always a good thing for the coin/token because it leads to volatility which is bad for any currency.

Cryptocurrecy bounties, airdrops and exchange talk are important for the development and support of these cryptos. The importance of them cannot be overly emphasized on. They are needed to promote new ICOs, or already existing ones. They have also proven to be a way that people who are interested in it can make good earnings.

They have also proven to be an easy way to trick crypto investors and pump and dump cryptocurrency.  They are not necessarily needed.  If something is truly valuable, one doesn't give it away so easily.  In the case of bounties, it's paid marketing, but the bounty hunters more often than not dump the coins/tokens for bitcoin and ether as soon as they get listed on exchanges.

really very disappointing. To be honest this has lasted long enough. And until now never even gets better. but it is precisely the longer declining.

Not sure what this means.