Bounties explanation and the reasons why many project is failed

[Jawhead999]

Do you know bounty? I think everyone definitely knows what it mean. In short, bounty is a payment after completing a task from someone project. There are many task have been offered on some project, like the twitter campaign, facebook campaign, ANN translation , youtube campaign and many more. You will got stakes (total shares) every week and after complete the campaign (usually 1-3 month) you will get the reward from developer or campaign manager.

For many users, I think it's what you know about the bounty definition, how to join and how to get it. Most users register this forum only to join bounty campaign.
The reasons :

• No need to learn about bitcoin or altcoin, brand new or new comer can join
• The task is simple and legit (have been proven on many other bounty hunter)
• Get invited or attracted on youtube videos

Actually, the full definition about bounty is

Bounties are rewards in tokens that a cryptocurrency/blockchain project gives away after a user successfully completes a certain task. The tasks can vary and we’ll talk about them later in the post, so stay tuned. Crypto bounties showed up on the stage as a marketing tool that helps startups to promote their projects. Since most tokens are based on the Ethereum platform, you’ll need an active Ethereum wallet to receive your reward. Source

So, as we can see the purpose of bounty program is "promoting their project". Every single campaign you join and completing the task, you're promoting their project to you friends or investors to buy their token to reach Softcap or maybe Hardcap

A soft cap is the minimum needed for the project to proceed and a hard cap is the amount that they will accept no more than. For instance a soft cap could be 10 million and a hard cap 30 million meaning if the project does not attain 10 million it will not proceed and also if it reaches 30 million no more can be contributed.

A project who reaches softcap usually has potential to be a good and success project. This will make many more investors is attracted about this project and invest it more. Even reach "softcap" is not always make the project is good or successful, but at least it's made the bounty program is successful. What if the project doesn't reach softcap? This means the project is unpopular and doesn't have many investors. Why the project doesn't have many investors and not popular? It's because the marketing and promoting of the project is not good. Who is the marketing of the project? Developer and team, Who is the promoting of the project? Bounty hunter

Honestly, I didn't know what the problem behind of marketing in the project, maybe unprofessional team or scam project/team. But, I know what the problem about the bounty hunter why didn't get many investors. The problem is "Many bounty hunter using fake facebook, twitter, youtube etc to promote the project". I can say like this because most of their social media is using auto follower to gain maximum friends/followers for getting more stakes (reward). The friends/followers is not a real human, only a bot... Does bots know how to invest on your project?

According to the forum rules, Does using auto follower for social media is prohibited and violate forum? No, there are no rules about this case. Does this violate the campaign rules? No, they haven't written about this. But, if you keep doing this while participating a bounty, never hope your project can be successful and have valuable tokens.

I have checked the HackenAI spreadsheet here https://docs.google.com/spreadsheets/d/1SvCHzzfhHa4TPHSn-XC2ADsCOSbgFrunDx5iyK8vsuY/edit#gid=1916942513

If you check their facebook or twitter, they have a great amount of friends from their account like 4500++. But if you visit the account and look their post, they never got many likes and comment from his post (Mostly 0-1 likes and 0 comment). The friends number and the likes/comment are very not equal. Thinks logically, does 4500 friends can't likes (at least 10 likes) to your post? and got 2-3 comment?. In my experience even I'm not popular and only have 1200-1500 friends, I still get around 15 likes and 1-2 comment to each post in my facebook account

Furakare Facebook account https://web.facebook.com/afif.kurniawan.96199



J0hns Twitter account https://twitter.com/Cryptoomist



Okolie1 Facebook account https://web.facebook.com/echeozor.barthson



I make this thread because there are so many people is complaining about the failed project, bankrupt, and doesn't distribute their token to bounty participants. They're mad and disappointed from failed project, but they didn't "aware" what he do to their project. If my explanation about bounties etc is wrong, you can suggest to correct it.

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[Taskford]

It just became not relevant ... Previously, many projects were successful due to the general confidence of investors
Now most of the then investors are skeptical of all projects.

It depends on the project maybe those you seen successful are the one who create a good marketing strategy and release more money just to make their project reliable, but we cannot deny the fact that even up till now we can see those fallen projects and statistically there's more failed than success since mose of the project right now are scams.


But I will not agree with OP that we shouldn't assume that the project we join will not successful since if that's the case I will not any of those since we are wasting our time and for sure the reason why people join in certain bounties since they believe that they will became successful and earn with them.

[minairia3]

The basis of some campaign which becomes irrelevant are the higher the followers/subscriber the chance of marketing, actually its true but the problem lies on the numbers of friends or followers who are active or legit users. Of course the goal is to let other know the project thats why they reward the higher the subscriber or bigger stakes.

They dont sometime concern about the comment or like since their goal is for viewing. A small chance of crypto person will still help some to heard or see whats about that project and thats the power of social media.

Your example hackenAI is not a bad project I think.

[FireBallex]

There have been series of bad bounty projects or even fake projects that paid bounty hunters very well before exiting scam, for example miracle tele, as a bounty hunter I'm much into my payment for promoting projects, whatever happens later on is not my business

[TIDOVEE]

Weldone for the critical observation. I will start from the point that - many project when they couldn't make enough of their targets forget and deprived bounty participants of their token. And what happens to whatever they have gathered?. Shared among managers or kept?  And how do you expect bounty participants to trust you next time. Even if the token is not enough to distribute at the promised rate, there should be a message of apology on wasted time, money, effort.

[crwth]

Basically, at the end of the day, there are a lot of bots doing the job of bounty hunters to market the project that ends up not getting the right exposure towards the market. Most of the accounts used have fake followers or followers that are also for bounty and ends up just exposing to other bounty hunters that are not going to invest in the project.

I think you have explained it well in a sense. You forgot to mention that some projects distribute their tokens but end up with no value and can't be traded. All the effort you made by advertising it or the bounty requirement is put to waste.

That's what we have now, for sure.

[Jawhead999]

But I will not agree with OP that we shouldn't assume that the project we join will not successful since if that's the case I will not any of those since we are wasting our time and for sure the reason why people join in certain bounties since they believe that they will became successful and earn with them.

I don't mean all the bounty hunter joining a project will not successful. Like I said, there are 2 way to become success project, by marketing and promoting. If promotion from bounty hunter doesn't attract investors to invest in their project, they still have a marketing strategy. Both team and developer should work very hard to make the project is interesting, unique, have good convincing skills etc to attract the investor.

Your example hackenAI is not a bad project I think.

Yeah I only pick random project to give some example of fake social media account who join the bounty. But, I found a thread HackenAI is failed to sold his token Hacken ai IEO failed

Hmm, I wonder what percentage of Bounty campaigns were successful earlier (2017) and what percentage of Bounty campaigns are successful now.

That's will be a long project, because you should open one by one a thread in bounty section (currently we have 12946 Topics) and search more about the project in scam acussations or reputation to make sure the project is scam or not.

Weldone for the critical observation. I will start from the point that - many project when they couldn't make enough of their targets forget and deprived bounty participants of their token. And what happens to whatever they have gathered?. Shared among managers or kept?  And how do you expect bounty participants to trust you next time. Even if the token is not enough to distribute at the promised rate, there should be a message of apology on wasted time, money, effort.

IMO, even if they have a many amount tokens but there are no demand about the tokens. They only have a shit token with no value and got nothing for it. I will say, they will ignore my thread and keep using their fake account because they only think about getting tokens as much as possible. Using fake social media account and cheating using many accounts, that's user can't be cured... it's his habit.

[Emilyearl]

Projects fail because they lack product and good management. Reaching softcap or hardcap does not determine the success of any project. When projects do not provide any form of solutions to life they don't tend to last. Any project who also fails in the area of marketing does not succeed as well. Having a good product and marketing makes a project successful because most raised funds are not necessarily needed. For instance a project is building an app, has scheduled to raise $10m from IEO. What sort of app can be developed with such a high amount?

[LbtalkL]

Reaching softcap or hardcap does not determine the success of any project.

It is true the project's mission and vision and the team's dedication is an important key to success, but I encounter projects with potential before not reaching at least softcap it ends up a failure, this is only applicable on projects that started from scratch and no budget at all. Now I notice most projects that success has initial funds or have been supported by private firms but of course, they have a good product or idea and marketing strategy.

[CryptopreneurBrainboss]

I make this thread because there are so many people is complaining about the failed project, bankrupt, and doesn't distribute their token to bounty participants. They're mad and disappointed from failed project, but they didn't "aware" what he do to their project. If my explanation about bounties etc is wrong, you can suggest to correct it.

Just to clarify something, if out of the carelessness of the project hiring an inexperience manager which doesn't have an experience probably from managing past campaign in combating fake hunters (fake accounts, followers etc) then you go punishing everyone for the mistake of the manager by not distributing the bounty reward as promised prior to them promoting your project, that marks the beginning of your failure in the industry as it takes away trust from the developers of the project.

There's no excuses if your project fails after all the funds you have raise, bounty promoting are to create awareness and this fake accounts can easily be identify especially when the account are been audited. (E.g twitter audit). The success of a campaign begins from employ a qualified manager that'll be ready to work with all his heart to bring about a better promotion for your project.

PS: project fails due to lack of authenticity, poor fund management and planning don't blame it all on the bounty hunters although they also contribute.

[magnum cyber]

actually it doesn't hurt if the bounty hunters feel angry or complain about the project they are taking part in. because we have seen that most ico projects are fraud. but all this goes back to themselves, I mean those who research, determine and follow the project of their choice, then on the contrary they must also always be prepared to accept any risk or consequence. well this is life in the crypto world.

[huu78]

It just became not relevant ... Previously, many projects were successful due to the general confidence of investors
Now most of the then investors are skeptical of all projects.

It depends on the project maybe those you seen successful are the one who create a good marketing strategy and release more money just to make their project reliable, but we cannot deny the fact that even up till now we can see those fallen projects and statistically there's more failed than success since mose of the project right now are scams.


But I will not agree with OP that we shouldn't assume that the project we join will not successful since if that's the case I will not any of those since we are wasting our time and for sure the reason why people join in certain bounties since they believe that they will became successful and earn with them.

It is true that it is impossible that the reason I participated in the promotion of the project was the failure of the project, because many projects still survive and have a rewards and airdrop program. so the op reason doesn't make sense.

[fudster]

It's not just about marketing, its also about the project whether its purpose is feasible and will have a use for its community. AI isn't the greatest by far that can work for all technilogy in the future. When its AI, it does mean AUTO, and when its auto its usually faulty.

Bounty participants have to really give something out for the project as well. You can't just keep reposting and posting because you have the channel, at least do something like finding a real audience,.

[abel1337]

actually it doesn't hurt if the bounty hunters feel angry or complain about the project they are taking part in. because we have seen that most ico projects are fraud. but all this goes back to themselves, I mean those who research, determine and follow the project of their choice, then on the contrary they must also always be prepared to accept any risk or consequence. well this is life in the crypto world.

After countless ICO projects scam that happened here most bounty hunters are being immuned on fraud projects. It's just sad that today's bounty isn't worth to try knowing that it has a high percentage of being a scam project. Losing the trust of investors makes the investment offerings difficult to reach their cap because of the bad cycle happening in the ICO world.

[Vishnu.Reang]

Yet another thread which demonizes the bounty hunters. I don't want to say too much.... but bounty hunters have become the most convenient scapegoats. If a bounty project fails, then in 99% of the cases the reason is because the idea was not very good, or because the promoters were not working hard enough. Bounty hunters can popularize a project only if the fundamentals are strong.

[Sterbens]

It's not just about marketing, its also about the project whether its purpose is feasible and will have a use for its community. AI isn't the greatest by far that can work for all technilogy in the future. When its AI, it does mean AUTO, and when its auto its usually faulty.

Bounty participants have to really give something out for the project as well. You can't just keep reposting and posting because you have the channel, at least do something like finding a real audience,.

There have been many AI projects before that have been launched but still fail because there is no innovation in the future and AI projects are indeed difficult to date with technology I think there is still no success with the AI that they launched.

For the HAI project, they have been able to trade their tokens but do not know in the future because their IEO sales did not reach the target, meaning they lack the funds to develop AI.

[mu_enrico]

To be fair dude, a real account with thousands of followers (a.k.a legit paid shill) will charge you real $$$, and it's expensive. If the project doesn't have real $$$ to spend and only promised to give the only-God-knows-the-price token, you will expect fake accounts with fake followers. As simple as that

[Vishnu.Reang]

To be fair dude, a real account with thousands of followers (a.k.a legit paid shill) will charge you real $$$, and it's expensive. If the project doesn't have real $$$ to spend and only promised to give the only-God-knows-the-price token, you will expect fake accounts with fake followers. As simple as that

LOL... can't put it any better than these. The promoters want everything for free and they want the quality as well. Things don't go on like that. If you want quality, then you need to pay. If I have a few thousand real followers, then I'll refuse any bounty campaign which ask me to post about the project 10 times a week. That is unless, they are willing to pay me a few hundred bucks per month. 

[southerngentuk]

It's not just about marketing, its also about the project whether its purpose is feasible and will have a use for its community. AI isn't the greatest by far that can work for all technilogy in the future. When its AI, it does mean AUTO, and when its auto its usually faulty.

Bounty participants have to really give something out for the project as well. You can't just keep reposting and posting because you have the channel, at least do something like finding a real audience,.

There have been many AI projects before that have been launched but still fail because there is no innovation in the future and AI projects are indeed difficult to date with technology I think there is still no success with the AI that they launched.

For the HAI project, they have been able to trade their tokens but do not know in the future because their IEO sales did not reach the target, meaning they lack the funds to develop AI.

They still haven't finished IEO, but today I saw them listed at the Oceanx exchange, and its price is $ 0.01. So I think the team has enough money to develop the project without having to perform different IEO rounds to call for an investment budget.

[bitgolden]

Yeah, there are people who are hurting the bounties but that doesn't change the fact that there are people who are doing it decently as well and when the bounty fails, or better yet the project fails you can't pay anyone, which is not really the point of starting a bounty. Normally if a bounty starts, you have to give everyone a certain amount, allocate that much, and if they fail you have to pay that money, if you can't pay in your own token, pay up with bitcoin, because you owe them.

If you succeed, you already pay them anyway. If there are few people who are wrong at bounties, just do not pay them, if you fail pay everyone else and reject these, if you succeed once again pay everyone and reject these, there is no reason to pay the bad ones as well, but the good ones has to get money no matter what.