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Author Topic: Bounty campaigns in a nutshell...  (Read 203 times)
vphasitha01
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June 22, 2018, 03:30:15 PM
Merited by Welsh (1), Coolcryptovator (1), 1miau (1)
 #1

I have found a good educational video[1] regarding "bounties" and I think it is better to share the content of that vedio for the people who are willing to join the bounty campaigns but not having basic knowledge about this process.


What are bounties?


Block chain companies, project teams encourage crypto community members to help with various simple tasks in order to reward with tokens. This process we called as "bounties"


Standard process

  • Browse Bitcointalk forum for available bounties
  • Pick a good project that you liked(DYOR before selection)
  • Choose and execute bounty tasks
  • Record your activity
  • Check results on spreadsheet
  • Join social media channels( mostly telegram) for announcements
  • Receive tokens


Types of campaigns

  • Bitcointalk signature  - Need to be certain member level
  • Blog post or video      - Quality and number of views, subscribers
  • Translation                 - Website, ANN thread, White paper
  • Social media               - If you're an influencer
  • Bug bounty                 - Coding expertise


How many tokens do you receive?

Certain percentage of total bounty allocated for different types of campaigns

  • Flat amount - Set amount awarded for each listed tasks
                        - Campaign stops when rewards are all allocated
  • Stakes         - # stakes depends on quality and type

Code:
Reward = (# stakes / total stakes of participants)* total token allocated for category


"Stakes" example

  • Video campaign allocate 10,000 tokens ( 10% of total bounty tokens)
  • You make a great video and get 100 stakes
  • Other people make videos too (varying quality) and they sum up to 7,000 stakes

Code:
Your total rewards = (100/7100)*10,000 = 140.85 tokens


Words of caution

  • Stay on top of bounty campaign progress
  • Check the followings:-
    • Recorded info is correct
    • All steps were followed
  • Sometimes teams mess it up and some people don't receive tokens (That's really unfortunate part of this whole process)


Why ICOs love bounties?


  • Doesn't require hefty marketing budget before token sale
  • Allowing percentage of tokens for bounty (technically they have lot to utilize since they are the creators of token)
  • Community helps them with marketing campaigns
  • High-impact, builds organic support
  • Incentivizes members to be invested in project's success



[1]-video source>>>https://www.youtube.com/watch?v=JOfHFvN-r48
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huhhuh18
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June 22, 2018, 04:51:49 PM
 #2

The ending statement is very true. It seems all campaigns will a large number of hunters constantly working have good outcomes.
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June 22, 2018, 08:19:09 PM
 #3

I will say from my experience, I watched a lot of videos on YouTube channels before I had to go into bounty companies. I want to note that for a beginner you need to start with the security of wallets.
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June 22, 2018, 09:06:54 PM
 #4

I will say from my experience, I watched a lot of videos on YouTube channels before I had to go into bounty companies. I want to note that for a beginner you need to start with the security of wallets.

Security should be the very fundamentals that you learn before anything, and not exclusively for bounty campaigns. In fact if a bounty requires you to download anything I would advise that you download it in a separate virtual machine at the very least.

vphasitha01
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June 23, 2018, 01:31:12 AM
 #5

I will say from my experience, I watched a lot of videos on YouTube channels before I had to go into bounty companies. I want to note that for a beginner you need to start with the security of wallets.

Security should be the very fundamentals that you learn before anything, and not exclusively for bounty campaigns. In fact if a bounty requires you to download anything I would advise that you download it in a separate virtual machine at the very least.
I also believed if you are not having the knowledge of wallets types, wallets security then better off from everything relating crypto field, not only bounties. Just go and learn basics before jump in to the crypto field.

Another thing I also believed if you're willing to participate bounty campaigns better to create a special e-mail for bounties and also never share your PRIVATE KEY with anyone.
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June 23, 2018, 11:43:16 PM
 #6

So, these guys who are posting social media reports on Bitcointalk are influencers? Good, I didn't knew, I thought they are just spammers or bots with fake followers :/
Ok, seriously, not bad guide Wink. But honestly, I hate to see that soooo many people coming to Bitcointalk only for bounties, many of these people aeen't even interested in crypto.

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June 24, 2018, 12:18:59 AM
 #7

Great topic man! This would educate newbies what a bounty campaign is all about. I hope everyone interested to join bounties can read this.
vphasitha01
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June 24, 2018, 04:17:44 AM
 #8

So, these guys who are posting social media reports on Bitcointalk are influencers? Good, I didn't knew, I thought they are just spammers or bots with fake followers :/
Nowadays influencer buildup their credibility in specific areas by bots and all, no real organic audience. So with the technological advancement anyone can gain fake followers with few bucks and joining for the bounties and filled up whole pages with their annoying reports. I think if bounty campaigns tight their rules regarding no of followers and percentage of real followers, the spam problem can be somewhat minimized.

Quote
I hate to see that soooo many people coming to Bitcointalk only for bounties, many of these people aeen't even interested in crypto.
Yeah I also think bounty managers should limit the participants per project and should increase the rank required for bounty participation which is very hard task for shitposters in these days with the merit system.
vphasitha01
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June 24, 2018, 04:19:55 AM
 #9

Great topic man! This would educate newbies what a bounty campaign is all about. I hope everyone interested to join bounties can read this.
Thanks for your pleasent compliment man Smiley
1miau
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July 29, 2018, 09:20:57 PM
 #10

Good work, very detailed and useful. => 1Merit  Smiley


Types of campaigns

  • Social media               - If you're an influencer

Maybe you can add here some more information, there are numerous tasks for social media Bounties:

  • Twitter campaign
  • Facebook campaign
  • Reddit campaign
...


Or even if you are not an influencer:

  • joining Telegram
  • subscribe the newsletter
  • follow on LinkedIn
  • clap Medium articles
...


The results of these tasks, especially the last ones, are not very high compared to other ones, like signature or content, but it's relatively easy to fulfill them.

Why ICOs love bounties?

Doesn't require hefty marketing budget before token sale
Allowing percentage of tokens for bounty (technically they have lot to utilize since they are the creators of token)
Yeah, thats the main part... The team pays the bounty hunters with their (often) Shitcoins which are getting dumped immediately after the listing. This is a marketing causing zero costs for the ICO team, because all the tokens are created by them. If it's a scam project they have a marketing campaign for free.  Cheesy
vphasitha01
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July 30, 2018, 02:20:08 AM
 #11


<...snip...>
Thanks for your pleasant complement and information. I will update my thread with those details.

Regarding ICO, nowadays almost all are becoming scam. Any one with Coding experience or not can create a token out of thin air. Get a ANN design and ICO website within few dollars and launch a ICO. Then copy a good white paper from internet. Those fake teams are collecting millions of dollars and get vanished like ghosts. Sometimes even they have given excuses like we can't achieved our funding goal, hence we decided to stop the ICO further notice. This is the harsh reality in these days. Cheesy
Protonem
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July 30, 2018, 03:35:41 AM
 #12

For joining bounty campaign, there are more specify rules about minimum requirement posting /week for signature campaign and report /daily for social media campaign. Definitely, i would like be agree for nowadays that is getting hard finding very good ico that potential to be huge success.

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OliverBuracBTC2017
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July 31, 2018, 03:13:07 PM
 #13

Thanks for this! I want to join bounties but I think watching videos first about this will be more helpful for me.

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July 31, 2018, 05:46:21 PM
 #14

I will say from my experience, I watched a lot of videos on YouTube channels before I had to go into bounty companies. I want to note that for a beginner you need to start with the security of wallets.

Exactly... because you wallet will be your vault with the token youll.be receiving and you need to.securr them.
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August 06, 2018, 03:09:23 AM
 #15

I will say from my experience, I watched a lot of videos on YouTube channels before I had to go into bounty companies. I want to note that for a beginner you need to start with the security of wallets.

Exactly... because you wallet will be your vault with the token youll.be receiving and you need to.securr them.
Newbies should also be aware of scammers that are trying to steal their reward  by submitting similar applications with another wallets... That remains within the purview of bounty managers but they are not always attentive so everyone should be careful on your own.

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August 06, 2018, 03:35:01 AM
 #16

Another things by joining bounty is KYC to get tokens.Must be careful to give our information for scammers.If it's a scam project they have a marketing campaign for free.
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