How can one make effective use of the Excrow?

[Greatdev]

Escrow is good but not a must, you can even miss many good projects if you force escrow on new projects because I've heard few reputable bounty managers complaining that even high quality bounty projects don't want to accept Escrow, the moment they talked about Escrow the team will stop replying and find another bounty manager that don't care about Escrow

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[kidbounty]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

 don't have to. because if there is such a problem, the proceeds from the sale of tokens are still in Excrow's hands. So whatever the project team does they get nothing. so the project team doesn't have to provide any kind of collateral like USDT or any other stablecoins. they just pay the Excrow service fee.

[Dariusburst]

I can list many successful bounty projects this year that don't use escrow and they kept their promises, every participants were paid and the tokens have good value, escrow is not a necessity it's wiser to spend time learning how to promote good projects or wait for top bounty managers to introduce new campaigns

[Novatech8]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

If you are to choose between a very promising project that has no Escrow and another project that has escrow which one will you pick? It's better to start choosing projects based on their quality, forget about Escrow because it doesn't matter much, you can get Escrowed tokens and the still send them for pennies, let high quality projects be your first aim, how many Escrowed bounty projects paid hunters this year so far? Oh! Many are from bounty detective team and they are all crap projects

[Doranile432]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

I agree with the escrow part but getting paid in USDT? No I don't want that because tokens are more valuable than USDT unless you promote a crap project that have no good utility which will never attract good investors or raise enough money for development, we all have different skills of doing research, I believe in my own skill, USDT is not for me

[VDraci]

Everyone keeps talking about escrow but I don't see them wearing Escrowed only signature campaign banner, if you really want only escrowed campaigns stop promoting projects that aren't Escrowed, once the number of hunters that want Escrow increase your voices might be heard, this shows that you aren't practicing what you are preaching

[peter0425]

Good point mate and i agree on this but of course Escrows here are mostly old accounts and they know for sure why they are not having this same idea as yours.

But yeah stable coin is much safer than volatile currencies and for both parties to be in safe place while the trade is happening .and even in waiting the value will remain intact and i'm sure this is the reason why Stable coins are created.

[Samayuki]

I don't care about escrow, 99% of projects I promoted this year are not Escrow and they all paid what they own bounty hunters, it's not a must to promote bounties, if you don't see a high quality project just wait until a good one comes, don't take unnecessary risks with projects you aren't certain that will be successful, If you know how to do good research you will easily identity promising bounty projects

[restuibu]

that is indeed a good suggestion but the problem is, not all projects that do it even I know that until now Escrow only has project tokens and no usdt guarantee

[tbterryboy]

Escrow is good but not a must, you can even miss many good projects if you force escrow on new projects because I've heard few reputable bounty managers complaining that even high quality bounty projects don't want to accept Escrow, the moment they talked about Escrow the team will stop replying and find another bounty manager that don't care about Escrow

It is up to the bounty participants to get this problem solved because if everyone decides they will not take part in campaigns that do not have an escrow involved then the project managers will have to hire one and that is the right way of doing it.

Bounty managers can only help participants if they are ready to bring the respect to the manager by not taking part in bounty-campaigns with no escrow.

Coming back to the topic, yes there can be manipulations in the smart contracts but how will the token do well in the market then after scamming so many participants. I mean they will bombard the social media with negativity and expose them making the project dead.

[bitcoin31]

Escrow is very safe now and I think yes it's better to have escrow on every bounty campaign with USDT because it is more safe.
The more bounty campaign who have no escrow the high possibility for the others to not getting paid.
Once a project are scam mostly participants of the campaign will suffer for sure so escrow is the answer of that.

[ice18]

I wish bounty campaigns just pay us solid USDT instead of tokens because that's the safest way to say they are legit and will be honest to pay us bounty hunters. If they somehow really change the smart contract without informing everyone, then that proves they are scamming people and should be avoided.

I hope so but this will not happen as project owners who decided to conduct bounty paid with tokens have no enough funds to pay for marketing thats why they try bounty which is cheap with no payment from their pocket just a worthless token with an estimated promise price but in reality its -80% when you exchange it at the end of bounty. 

[doomloop]

OP is having problems and troubled by escrowed funds held by third parties such as bounty managers because the owners of the token themselves change the smart contracts of their own tokens. That means previous tokens are becoming useless and worthless. So it somehow makes the use of escrow useless as well.

That is indeed a curious case and important question and I guess the only possible answer is by providing the escrow with equal amount in USDT or some other stable coin such that in case the escrowed tokens are taken back by fancy changes in the smart contract they can at least pay the bounty hunters in USDT and compensate for the loss.

Is there any case of such happening? I haven't seen this happen anywhere but this is a good question and want to see if this ever happened and more importantly how it was tacked if it happened in past. Please share the link for any campaign where this took place if you know any of them.

[otto93]

Escrow is good but not a must, you can even miss many good projects if you force escrow on new projects because I've heard few reputable bounty managers complaining that even high quality bounty projects don't want to accept Escrow, the moment they talked about Escrow the team will stop replying and find another bounty manager that don't care about Escrow

That too is very true, but it also depends on the credibility of the bounty manager on these Bitcointalk platform that makes this investors believe in the bounty managers and also allow free flow of communication. Well mostly some excrows can be trickish if they don't have the credibility

[otto93]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

 don't have to. because if there is such a problem, the proceeds from the sale of tokens are still in Excrow's hands. So whatever the project team does they get nothing. so the project team doesn't have to provide any kind of collateral like USDT or any other stablecoins. they just pay the Excrow service fee.

What if the team changes the smart contract without contacting the escrow, what happens to the agreement and the party providing bounty services?

[otto93]

I don't care about escrow, 99% of projects I promoted this year are not Escrow and they all paid what they own bounty hunters, it's not a must to promote bounties, if you don't see a high quality project just wait until a good one comes, don't take unnecessary risks with projects you aren't certain that will be successful, If you know how to do good research you will easily identity promising bounty projects

Well 99% is a good credit score... Who many projects make up that 99% and how many have been successful in the market, lets consider that and can you give us some names? CILPX was having potential but they pull a rug before anyone notice

[otto93]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

I agree with the escrow part but getting paid in USDT? No I don't want that because tokens are more valuable than USDT unless you promote a crap project that have no good utility which will never attract good investors or raise enough money for development, we all have different skills of doing research, I believe in my own skill, USDT is not for me

I only said they keep the usdt equivalent of the tokens should incase something happens, if they pull rug or refused to pay bounty hunters or keeps promoting distribution date

[Mighty_crypt]

Many new projects will end up walking away from any bounty manager that ask them for escrow and find other bounty managers that don't give a f*** about escrow, how many Escrowed projects become successful since 2018 if I may ask you? All popular successful bounty projects since 2018 never used any Escrow, it's totally useless to me

[ZaraCB]

how many Escrowed projects become successful since 2018 if I may ask you? All popular successful bounty projects since 2018 never used any Escrow, it's totally useless to me

I can't say how many Escrowed projects become successful since 2018. But can you tell me how many projects have not paid Bounty Hunters even after being successful since 2018, if I may ask? I think it is a right of Bounty Hunters to get paid at the end of a Bounty campaign, and Escrow ensure that right of Bounty Hunters.

[tbterryboy]

Yeah, you’re right I have experienced such a thing once. I received a token to my Trust Wallet and I have been holding it there for sometime without checking my Trust wallet, and when next I decided to login and spend some tokens there I discovered that this particular has been changed and the amount I have of this token was then worthless and showing $0.00. It’s been long they have been doing this nonsense and it’s pretty much annoying.

USDT is a better option for escrow, I don’t agree with comments here that are saying ETH and BTC, those two are volatile and can fall anytime, it’s better they use USDT and when you get yours you can decide whether to put in BTC or ETH or not at all.