Does bounty really make money?/Who are participating in the bounty?

[kxwhalexk]

I'm thinking about the purpose of the bounty.

I have a simple understanding of the bounty program a few days ago.When the users who participate in the bounty have completed some tasks, the project team will send them some tokens.

These tasks are generally to help project publicity, such as helping the project to repost Twitter, posting about the project on reddit, using project signatures, etc. Of course, some will also publish a translation bounty task.

But according to my observation, most of the people participating in the bounty program are bountyhunter, and their twitter/facebook/telegram etc. friends are also their account. I don’t think the bounty task can have a promotional effect.

They generally have a lot of activity, but almost no merit


Even if there have merits, it is an account before 2018. The previous accounts automatically get merits


They have dozens or even hundreds of pages of responses,90% of the response content is about the participation and completion of the bounty. But they haven't posted a post


This is their twitter concern


Most of their fans have the word followback


So I think that the promotional effect of the project’s bounty is very small.The amount of tokens obtained by normal participants is not worth our time to participate.Unless there are many accounts together with special methods to participate（Even many projects don’t send bounty tokens at all）, you can get considerable profits.

When the bounty ends, the project party only gets a large number of coin holding addresses

[Pokapoka124]

Its a case of good and bad eggs. While there are good projects that pay for the service especially if you have significant influence in the social media olatforms like twiiter, telegram, reddit, Youtube, etc and they pay modest sums. The downside to bounty hunting is that many project turn out to be scams and you cannot tell which one is legit. You waste your time and risk having your profile full of bounty posts. Bounties unlike signature campaign do not care about post quality. That's why I do not think bounty is good way to start your bitcointalk journey

I could say bounty campaigns whether in 2019 or not seemed to have the same degree of profitability because there are some factors that could affect its outcome as mentioned in the following situations such as:

a) bounty hunters tend to sell their assets early (and often at a loss or below ICO/IEO price) on an otherwise promising project.
b) some projects have discontinued their development for various unknown reasons (e.g. financial difficulty)
c) some projects turned out to be a scam (exit scams)
d) some are legit projects but did not honor their commitment to the bounty community (significantly reduced bounty rewards or did not give bounty   payments at all)
e) the quality and performance of the project greatly affects our bounty profitability (that is why it very important to research and choose promising projects accordingly)
f) most bounty hunters nowadays have become more mature that they tend to select only the most promising projects which results for bounty hunting to be more competitive (more competitors = lesser the rewards)
 

Lobat999 did justice to your question

[DdmrDdmr]

<…>

Maybe there’s a mimic effect to this, without giving it much though on the corporate side…

One key factor to consider is that we’re talking about bounties here, which are rather different to signatures in the intended audience (the former is off-forum whilst the latter is on-forum). Bounties have a long-standing tradition of Tweeting, Facebooking and, in general, spamming to an audience that is, as you imply, essentially a bunch of spammers too. If anyone spams this type of content to friends and relatives, then they are really in another intellectual league.

Perhaps the idea is to get someone interested by sheer exposure through volume, eventually tricking down to some legit users who receive the message as a holy grail to getting rich (and who may in turn spread the message to friends). After all, and here is a key factor, the vast majority of bounties are paid in tokens that are made from thin air, so the cost is essentially null. Volume and no thought over finesse and strategy.

We’d also need to consider the real goal behind: creating a long(ish) standing product/service or just grabbing money.

[mk4]

The chances of you getting some coins/tokens that will end up being worth at the very least a decent amount is just so low that I'd rather just work in McDonalds or something. Bounties(outside of great consistent signature campaigns) and faucets are simply just so bad. It's just so popular because people want easy almost effortless money.

[Kittygalore]

Yes it's able to make money but we are from the heydays of bounty campaigns guaranteed to pay, nowadays the bounty campaigns are a like a box of chocolates but if the chocolates were scam or paying and most of the time, most of this bounties ends up being a scam.

[cryptoaddictchie]

Bounty makes money if you knew which one to promote. Also lately Ive noticed that some type of bounty have changed and more inclined on social campaigns. These kind of promotions are good to those participants that have a good amount of followers. In current time, Ive already stopped joining some blog and article campaign but maybe depends if I spot a very good project thats worth my time then maybe I'll participate oncr more.

[Daniel91]

kxwhalexk, you have opened a very interesting discussion here 
While I was still a young member on this forum I participated in several bounty campaigns that paid off in some tokens but in the end I got nothing out of it, the tokens were worthless, so I soon gave up on such projects.
Although I have a lot of friends who follow me on social media, I don’t remember anyone ever asking me about these bounty projects I was advertising.
From my personal experience, I conclude that most bounty projects are actually a waste of time.
It is obvious that members who can't participate in much better paid btc campaigns participate in such campaigns.

[CryptopreneurBrainboss]

Bounty makes money if you knew which one to promote.

Let me rephrase that for you, 'Bounty participants get decent paycheck if they were lucky to join a campaign that became successful and profitable'. In bounty participation, there's nothing like knowing which one to participate in as there's no written tag of one campaign been successful while the other not been although there are some things you can look out for. Some of those things might includes the project itself, the team behind it and the the budget for the campaign.

You can see a bounty been manage by a professional becoming a failed campaign meanwhile that been managed by a totally newbie is getting successfully. The idea that money can be made from bounties promotion isn't much of a reality anymore although that doesn't mean there's no exception and that's the reason it's still been patronized by many.

The participants believe that they can still make money which result in them joining any random campaign out there with the hopes of been among the lucky promoters that works on a successful project. Today, the numbers (promoters) are now too high compared to years back when the idea if bounties initially started and the market ain't accepting them anymore unlike previously that most coins got patronage the moment they got listed for hunters to sell and profit.

[sapnu]

I had my experiences with bounties before and for me, I found it effective considering the profit I was able to make. Nevertheless, bounties nowadays are far so different from the bounties we had before. Before, there are a lot of legitimate bounties that pays fairly and on the right time for the bounty hunters. The bounties we can see nowadays are usually scams or failed ones. If you really want to take profit from bounties, you should observe and analyze the project carefull so you wouldn't be at risk at falling into scams.

[TopTort777]

I agree that social media campaings have zero “promotional effect”. In twitter, all the followers are #followback mostly. Bounty hunters rare tweet gets any response. But a comment is a miracle. Facebook is the same. Profile is full with unknown so called “friends”. They all are same bounty hunters, or if a profile picture is a cure girl - then there are lots of arabs. Any project will get no useful repsonse from such account or so called “potential investors”. Social media campaign is like throwing budget into a garbage bin.

[SquirrelJulietGarden]

I agree that social media campaings have zero “promotional effect”. In twitter, all the followers are #followback mostly.

Not zero effect. The effect from bounty can be big, small or zero and it depends on the quality of bounty participants. The fact is most of bounty hunters are shit posters. In the forum as well as on social media, they are shit posters, Twitterers or Facebookers. Their posts, tweets, status are non-sense.

It is barely seen but there are very little quality bounty participants and bounties will get most of impressions from those participants.

Bounty hunters rare tweet gets any response. But a comment is a miracle. Facebook is the same. Profile is full with unknown so called “friends”. They all are same bounty hunters, or if a profile picture is a cure girl - then there are lots of arabs. Any project will get no useful repsonse from such account or so called “potential investors”. Social media campaign is like throwing budget into a garbage bin.

Because their messages, tweets, comments are totally non-sense and artificial. You can copy their tweets, comments and search with Google. Results will be plagiarism in most cases. They use same templates for all social media, in all bounties they participate in.

[cryptoaddictchie]

Let me rephrase that for you, 'Bounty participants get decent paycheck if they were lucky to join a campaign that became successful and profitable.

Lets just say that lucky is a factor too of being successful but would you rely on that alone isnt it right? There is a process of due diligence from where we can see the project potential. During my time of bounty hunting, I checked most of my campaigns to participate and pick them depends on a lot of factor, Im not just randomly joining any campaign and wishing for luck which one could be successful and profitable.

The participants believe that they can still make money which result in them joining any random campaign out there with the hopes of been among the lucky promoters that works on a successful project. Today, the numbers (promoters) are now too high compared to years back when the idea if bounties initially started and the market ain't accepting them anymore unlike previously that most coins got patronage the moment they got listed for hunters to sell and profit.

This is applicable but they must have accept the part of not having a paycheck later on since they are gambling with joining any campaign they want.

[hatshepsut93]

I used to earn really good money with translation bounties in 2016-2017, but by the end of 2017 the rewards have dropped substantially and more and more projects weren't getting listed on exchanges or costed a few satoshis and were not worth the effort. I also did twitter bounties with a twitter bot, and was earning $5-10 per bounty on average, until my bot got banned. Doing it manually is simply not worth the effort. I imagine nowadays it's even less profitable, as ICO is not attractive anymore and the whole crypto market is in bear market.

[Smartvirus]

When it comes to bounties, its basically based on your evaluation skills that could aid you spot out a project with some potentials with regards to earnings  some bounties might paid in altcoins of value and are already trading in the market, while others might pay in there tokens which might need worthless at a time but could be valued more later or perhaps, remains worthless for a long time until it is forgotten to have existed.
Bounties is not a very worthy act for someone who has a vision in the forum because, it stands as a distraction and your likely yo spend most of your time, hunting worthless tokens as 90% of bounties end up being dumped or failed projects.

[kxwhalexk]

While I was still a young member on this forum I participated in several bounty campaigns that paid off in some tokens but in the end I got nothing out of it, the tokens were worthless, so I soon gave up on such projects.
Although I have a lot of friends who follow me on social media, I don’t remember anyone ever asking me about these bounty projects I was advertising.
From my personal experience, I conclude that most bounty projects are actually a waste of time.
It is obvious that members who can't participate in much better paid btc campaigns participate in such campaigns.

Yes, how much you can earn from the bounty depends largely on your luck, or your ability to identify the project.

Unfortunately I don’t have this ability right now.My luck is not very good either. I even “admire” those who create many alt accounts to participate in bounty.

kxwhalexk, you have opened a very interesting discussion here 

lol, I saw in some posts that I can make money from bitcointalk. But it doesn't seem so easy now.

The most valuable thing in my opinion is the knowledge on bitcointalk.

[kxwhalexk]

I used to earn really good money with translation bounties in 2016-2017, but by the end of 2017 the rewards have dropped substantially and more and more projects weren't getting listed on exchanges or costed a few satoshis and were not worth the effort. I also did twitter bounties with a twitter bot, and was earning $5-10 per bounty on average, until my bot got banned. Doing it manually is simply not worth the effort. I imagine nowadays it's even less profitable, as ICO is not attractive anymore and the whole crypto market is in bear market.

Not only BOUNTY, but the quality of projects released in the ANN sector has also declined significantly.

A long time ago, those great projects were all released in bitcointalk ANN. But now more and more junk items are posted here.

This may also be related to the popularity of bitcointalk, or it may be that more and more IDO platforms have attracted those good projects.

[Bravehash]

Bounties still pays, I've promoted few bounties this year and they did very good though one or two don't pay a dime but it's always part of the risks so if you want to join bounties have it in mind that not all projects will pay you for your hard work, the decision is yours

[isaac_clarke22]

~

When bounty hunters talk about bounties, it is unavoidable to also mention those airdrops though I believe they are far more worse in my experience back then when one emailed me to drop my private key into their site, just because I was using a wallet file of MEW in those years which was the most unsecured way of holding ERC-20 tokens.

[Scarlett7777]

I'm thinking about the purpose of the bounty.

I have a simple understanding of the bounty program a few days ago.When the users who participate in the bounty have completed some tasks, the project team will send them some tokens.

These tasks are generally to help project publicity, such as helping the project to repost Twitter, posting about the project on reddit, using project signatures, etc. Of course, some will also publish a translation bounty task.

But according to my observation, most of the people participating in the bounty program are bountyhunter, and their twitter/facebook/telegram etc. friends are also their account. I don’t think the bounty task can have a promotional effect.

They generally have a lot of activity, but almost no merit


Even if there have merits, it is an account before 2018. The previous accounts automatically get merits


They have dozens or even hundreds of pages of responses,90% of the response content is about the participation and completion of the bounty. But they haven't posted a post


This is their twitter concern


Most of their fans have the word followback


So I think that the promotional effect of the project’s bounty is very small.The amount of tokens obtained by normal participants is not worth our time to participate.Unless there are many accounts together with special methods to participate（Even many projects don’t send bounty tokens at all）, you can get considerable profits.

When the bounty ends, the project party only gets a large number of coin holding addresses

In the face of the above problems, I would like to say that the current bounty model is too old-fashioned and prevents individuals from achieving their full potential. Instead, I think the project bounty plan should initiate a team to complete the game, the individual to complete the game, and the team to complete a goal together. Will be more motivated, interesting, and fulfilling than a person. In this way, individuals who complete the bounty will set up a community through this bounty program. This community may play a huge role in many bounty programs in the future in a team fifteen way. This is the power of the community.

[Pmalek]

Social media bounties have the least promotional effect, but generate the most amount of spam. You said it yourself, if you have a Facebook account with thousands of friends and followers from all spheres of life, what are the chances they have any interest in crypto and are going to like the content you share? Instead of generating an interest in the project, you end up with nothing. Those posts and comments have no likes, shares, comments... No one wants to see them. And you will be limiting your friend circle who will eventually get sick of your posts and block you. 

I admire those who create many alt accounts to participate in bounty.

You shouldn't. That's how you get negatively tagged or banned if one of your alt gets banned for any reason.