How to not waste time with terrible bounties - for dummies

[Wookii]

Hello everyone,

As more and more bounties are giant waste of time, I decided to write up a summary of how to choose a boutny correctly. For dummies. As anyone with some experience already knows this. Most ouf us, boutny hunters got burned at least once. I want to help prevent that.
Step 1

Read the white paper.

I mean it, READ the frikin' whitepaper.
You can tell a lot from whitepaper. Does it sound familiar? Is it ultra impossible? Is it just plain shi... shinny pile of crap?! AVOID IT!

There is no reason to waste good amount of your time with an ICO bounty without really interesting, reasonably long and creative whitepaper. Any good ICO will take their time and produce quality, mistake-free and polished white paper.
Step 2

Check your possible income.

This might seem like a no-brainer, but I have seen not one too many, but TWO too many people wasting their time for really, REALLY low reward. Why would you waste X hours of your time for 10% of a reward you could get from a different ICO?

Know your price. You must know how much you value your time. To get the expected income, you need to know the following:

• Total coin supply
• ICO price per unit
• Price per coin of similar project
• Expected coins per stake

I, personaly, avoid bounties with set amount of coins/tokens as reward. Well there might be some exceptions, if the set reward is high enough, but there is a problem of authors knowing exactly how much they are willing to pay you. But if you go with the route of stakes, you are likely to get much higher reward. If the authors are willing to give 100 000$ for translation bounty, and you end up being only 1 of 20 participants in this ICO, your reward would be much higher than, let's say, reward of 60 000 tokens worth 0,01$ each.

Total coin supply will tell you, how could the coin/token grow after the listing. Coins with really high total supply will msot likely drop like and apple on Newton's head after listing. So try to participate in the bounties of ICOs with low total coin supply.

Check the spreadsheet before going in, if there are already 1 zillion people liste for the bounty you are interested it, it might be too late to accumulate enough stakes for you and you would get only a little reward. Also check the spreadsheet even after pariticipating regularly and divide the total bounty with already given out stakes and multiply it by your stakes. Count if this ICO is still nicely profiting one, or if it just became a waste of time.

Similar projects might give you an insight into the expected price after the listing.
Step 3

Admit a mistake.

Everyone makes mistakes. You are everyone. Don't be stubborn, get out of failed bounties, save your time, get yourself an ice cream as a consolation prize.

If in the process of working for some ICO in a boutny program you figure out, that this ICO is a fraud, stop working for them. It is that simple. Do not promote thiefs. Don't let other people get robbed by terrible ICO, which will jsut grab their money and disapper. Take the loss like a human you are (see? gender neutral!) and move on.
UPDATE
Thanks for great feedback. After reading through comments, i decided to add an update with step 4!

Step 4

Check the bounty manager and the team.

If the ICO is managed by newbie or Jr. Member bounty manager, you might want to avoid it. Try looking at the past projects of the bounty manager. Were the projects successfull? Does the bounty manager has great positive feedback? On the other hand, if he is negative-trusted, avoid him completly. If the past projects were really successfull, you can be pretty much sure, that you will receive the promised reward.

Also you can see the team behind the project msotly around the end of a whitepaper or on the website. Check their previous experiences. Google them. check their profile pictures, if they are taken from the internet or if they are genuine. Do you due diligence, don't be lazy!

Those 4 steps are the absolute minimum you need to know before and right after getting into a bounty program. I hope this article will help someone. Until next time, BYE!

[BitcoinFrik]

Another important factor is to actually pay attention to the Bounty Manager. Is it a Newbie or Jr.Member, or a well known Bounty Manager from BitcoinTalk which has been holding other Bounties in the past and has a reputation for himself.
Another hint could be the hype around the project.

[cryptoman1ac]

A very informative thread like this deserves a merit but for give me for I still do not have one. Thank you anyway that it had come to your mind to post this helpful information. May you never get tired of posting more articles that can help our crypto brothers and sisters with our journey towards successful bounty hunting.

[Wookii]

Another important factor is to actually pay attention to the Bounty Manager. Is it a Newbie or Jr.Member, or a well known Bounty Manager from BitcoinTalk which has been holding other Bounties in the past and has a reputation for himself.
Another hint could be the hype around the project.

Hmmm, you are right with the bounty manager! But the thing is, actual bounty manager can have a team of helpers. I usually try to find head boutny manager through Telegram and chat directly with him about everything. Sure, if the initial ANN thread and Bounty thread is posted by anything less than Sr. Member, i have my doubts too.

[digaran]

What if after reading the whitepaper and joining a bounty with a reputable manager, you get nothing? why would a bounty campaign pay you more than what you could get from a signature campaign?

What would you do if their ICO couldn't collect money? you would join another bounty?

Join my bounty for activity token, if I could sell them, I'll pay you $160 per week for just mentioning the name of activity token 3 times per week and sliding the asset identifier 2 times per week. (note that I need to collect enough money for myself first, because I spent 1 facking Waves on issuing the tokens, I should at least get $50,000 just for doing that, cost of development).

(note again, that coding shouldn't cost a coder any thing, if you find a project team are asking for money to write the codes and then hope for adoption for the price to increase, stay away).

[Wookii]

What if after reading the whitepaper and joining a bounty with a reputable manager, you get nothing? why would a bounty campaign pay you more than what you could get from a signature campaign?

What would you do if their ICO couldn't collect money? you would join another bounty?

Join my bounty for activity token, if I could sell them, I'll pay you $160 per week for just mentioning the name of activity token 3 times per week and sliding the asset identifier 2 times per week. (note that I need to collect enough money for myself first, because I spent 1 facking Waves on issuing the tokens, I should at least get $50,000 just for doing that, cost of development).

(note again, that coding shouldn't cost a coder any thing, if you find a project team are asking for money to write the codes and then hope for adoption for the price to increase, stay away).

Even the best of ICOs could fail. What I did not implement (my bad, it is pretty important) is being aware of x% of collected money oging to bounty. This can lead to clsoe to nothing... If the bounty gives 1% of collected funds and ther fund only 1M, 10 000$ for all the bounties will lead to just few bucks...

Most of the ICOs will lead to loss, but in the bounty program, all you are risking is your time. Now I am always taking into account risk vs reward. If i am risking 10h of my time for good amount of money, I am willing to take the risk. Also, I have seen sumamry from the last year. If you would invest in ALL the ICOs last year, the failed one including, you would still be 13,5x profiting. Now what I am trying to say is, if a person does due diligence properly and participate in 10 ICOs at a time for example, at least 4 should be good, 2 average and 2 bad and 2 terrible. All in all, that person should still be profiting nicely.

[ngacengan]

To determine the ICO the way or step you mentioned is still very inaccurate you should see the team behind the project if they do not have an experienced team it is sure the ICO will fail.

[Coin_Maven]

Reading whitepaper, checking website and team out is a good way to differentiate the potential of an ICO. I did the same for airdrops, you can check out my work here.

https://bitcointalk.org/index.php?topic=2956430.0

[Gabmot]

The team first and foremost is just too important, if any bounty campaign team is proven to be accountable and trustworthy, I don't see why anyone should end losing out; however you doing everything demands of as per any part of the bounty registered for. Another interesting factor for me is the ICO itself. We have to look at the percentage of success such ICO can make as slated clearly in the white paper and roadmap. If this is also well taken off, I think everything is set to earn big in any bounty campaign.

[Wookii]

To determine the ICO the way or step you mentioned is still very inaccurate you should see the team behind the project if they do not have an experienced team it is sure the ICO will fail.

Those were 3 basic steps for dummies. Might do more in-depth guide later. This was meant for a compelte newbies, I know there are more factors. Thos 3 steps are super easily followed, differentiating between team members and knowing is the team is good is the next level, for someone with at least some experience.

[Duzenn]

In fact, it is also important to choose a qualified bounty manager, as far as possible to avoid the level of the bounty manager only JR members and members, because most of the bounty thread is not reliable,

[myrliska1313]

Guys, tell me where to find information about past projects of the bounty manager? Maybe there is some reference on the forum?! 

[delitte]

Well, I agree that everyone commit mistakes but in my experiences I usually don't care for the white papers, project importance, bounty allocations, ICO soft and hard capitals and other aspects of ICO information on bounty campaigns.
What I do care is I usually join on good bounty campaign managers who has higher ranks because most of their bounty campaigns were successful than bounty campaigns that are being managed by newbies and Jr. Members.
Because I believe that God ICOs have no fund issues and most of them are backed with corporations and good companies.
I always participate bounty campaigns that are being managed by Yahoo, Sylon, Needmoney etc. 

If you are doing this post to earn sMerot then you're wrong, Merot is a failure in this forum.

[delitte]

Another important factor is to actually pay attention to the Bounty Manager. Is it a Newbie or Jr.Member, or a well known Bounty Manager from BitcoinTalk which has been holding other Bounties in the past and has a reputation for himself.
Another hint could be the hype around the project.

I totally agree, the most important factor for looking a good bounty campaign is the bounty Manager itself and I am staying away from bounty campaigns that are being managed by newbie and Jr. Members because they're more likely supporting scam projects.
I do believe that good ICOs aren't having dundee issues and they could even put their ads somewhere like coinmarketcap.com and other crypto giant website.
And also, Good ICOs would pay veteran bounty managers and these managers would help them out to recruit good bounty hunters who could post quality posts and wears ICO signature and help ICOs to achieve their targets.

[delitte]

Guys, tell me where to find information about past projects of the bounty manager? Maybe there is some reference on the forum?! 

https://bitcointalk.org/index.php?topic=2277262.msg23099740#msg23099740

TokenSuite bounty managers are one of the most popular in this forum and they have a lot of followers including me.
Needmoney and Olcaytu2005 are two of my most trusted bounty campaign managers, most of their works and supported ICOs were made it into coinmarketcap.com
I really want to prove that the points above aren't reliable because bounty campaign manager is the best criteria on choosing good bounty campaigns and earn good bounty tokens at the end of the campaign.

[Ciucas]

I agree with you, i think that reading the whole whitepaper and also checking their website(to look professional) is the most important thing that you can do.
Also, from reading the whitepapers you gain a lot of knowledge that might be useful in the future if you decide that you want to invest in certain ICO's. ( you will learn if the plans of those coins are realistic and achievable, and if they have chances to succeed)

[withche.07]

Good article to follow for newbies, just sent merit.
I think step 1 - reading whitepaper or details about coin is the most important thing that everyone should do before joining a bounty or even investing. No way you will trapped after reading official papers.

[ryancpk]

Hello everyone,

As more and more bounties are giant waste of time, I decided to write up a summary of how to choose a boutny correctly. For dummies. As anyone with some experience already knows this. Most ouf us, boutny hunters got burned at least once. I want to help prevent that.
Step 1

Read the white paper.

I mean it, READ the frikin' whitepaper.
You can tell a lot from whitepaper. Does it sound familiar? Is it ultra impossible? Is it just plain shi... shinny pile of crap?! AVOID IT!

There is no reason to waste good amount of your time with an ICO bounty without really interesting, reasonably long and creative whitepaper. Any good ICO will take their time and produce quality, mistake-free and polished white paper.
Step 2

Check your possible income.

This might seem like a no-brainer, but I have seen not one too many, but TWO too many people wasting their time for really, REALLY low reward. Why would you waste X hours of your time for 10% of a reward you could get from a different ICO?

Know your price. You must know how much you value your time. To get the expected income, you need to know the following:

• Total coin supply
• ICO price per unit
• Price per coin of similar project
• Expected coins per stake

I, personaly, avoid bounties with set amount of coins/tokens as reward. Well there might be some exceptions, if the set reward is high enough, but there is a problem of authors knowing exactly how much they are willing to pay you. But if you go with the route of stakes, you are likely to get much higher reward. If the authors are willing to give 100 000$ for translation bounty, and you end up being only 1 of 20 participants in this ICO, your reward would be much higher than, let's say, reward of 60 000 tokens worth 0,01$ each.

Total coin supply will tell you, how could the coin/token grow after the listing. Coins with really high total supply will msot likely drop like and apple on Newton's head after listing. So try to participate in the bounties of ICOs with low total coin supply.

Check the spreadsheet before going in, if there are already 1 zillion people liste for the bounty you are interested it, it might be too late to accumulate enough stakes for you and you would get only a little reward. Also check the spreadsheet even after pariticipating regularly and divide the total bounty with already given out stakes and multiply it by your stakes. Count if this ICO is still nicely profiting one, or if it just became a waste of time.

Similar projects might give you an insight into the expected price after the listing.
Step 3

Admit a mistake.

Everyone makes mistakes. You are everyone. Don't be stubborn, get out of failed bounties, save your time, get yourself an ice cream as a consolation prize.

If in the process of working for some ICO in a boutny program you figure out, that this ICO is a fraud, stop working for them. It is that simple. Do not promote thiefs. Don't let other people get robbed by terrible ICO, which will jsut grab their money and disapper. Take the loss like a human you are (see? gender neutral!) and move on.

Those 3 steps are the absolute minimum you need to know before and right after getting into a bounty program. I hope this article will help someone. Until next time, BYE!

Thanks for sharing this handy guide for bounty hunters. I usually check the members in the bounty telegram group chat (if any) to have a rough idea on the number of the participants before joining the bounty.

[Valzador]

Good thread, but a little extra from me: look for projects that have a lot of ads like on facebook and this forum, why? because they have considerable capital and you will definitely get paid if their project is successful.

[Wookii]

Well, I agree that everyone commit mistakes but in my experiences I usually don't care for the white papers, project importance, bounty allocations, ICO soft and hard capitals and other aspects of ICO information on bounty campaigns.
What I do care is I usually join on good bounty campaign managers who has higher ranks because most of their bounty campaigns were successful than bounty campaigns that are being managed by newbies and Jr. Members.
Because I believe that God ICOs have no fund issues and most of them are backed with corporations and good companies.
I always participate bounty campaigns that are being managed by Yahoo, Sylon, Needmoney etc. 

If you are doing this post to earn sMerot then you're wrong, Merot is a failure in this forum.

I actually decided to do this post to sum up my experiences, including my past burn with wasted time on one bad ICO (funny thing, they packed only few thousand bucks and diassapeared, it was that bad of an ICO, well, noob mistakes happened). And i have seen so many bad ICOs with so many people wasting their time in it. I jsut decided to writ this