Merit giveaway is allowed in a price prediction contest?

[memehunter]

Thread : https://bitcointalk.org/index.php?topic=5561260.0

I am launching a btc price prediction game for the new year.

Prize Pool:

The prize for the winner will be $100 (the closest prediction)

The second closest prediction will win $50

The third spot's prize is $25

And the fourth will win 50 merits from my main account.

I know you can send merit to whomever you want, but this way? @mrust_mobile, so in your opinion 50 merits have less worth then $25, not to mention that equating merits directly with money should not be allowed in any way, apart from eligibility through normal forum requirements. It is one thing to limit the number of entries on the basis of certain merit (I have no issue with that) but to offer 50 merits just to predict the BTC price is beyond my comprehension. If I am wrong, I would like to be educated on this topic.    

[yahoo62278]

I don't love it but to me he is not selling the merits but rather giving them away for doing a task. Really no different than the NODE CHALLENGE IMO. Both are tasks for merits, 1 just a more useful task than the other.

[memehunter]

1 just a more useful task than the other.

Task 1 is related to some education regarding BTC and creating technical awareness, comparing both on same horizon would be ...

[Nightwalker(NW)]

There have been other contest that has involved merits awards and some local contest in our Local board has merits awards, which I think there is nothing wrong with giving out merits as awards to the winners.
So far, merits has been something that is meant to reward to people either by the amount of helps they gave to people, and also can be awarded as contest price.
If there is anything I don't know about this then those who has experienced more than me can also leave their own review towards this question you asked here which I would like to quote few users which I think that are reputable enough, people like fillippone, Charles-Tim, Lovesmayfamilies, LovceyV, and Jayguangee.

[Odohu]

There are so many contests in the forum whose rewards are merits, even in some local boards we have them. So i don't think there is any violation in giving out merits in contests irrespective of where the contest is hosted. As long as there is no merit abuse intended rather it is given as reward for good job, I think it's allowed. It will actually be somehow if the entire contest was to be rewarded  with merits, so this case is not problematic because there are cash prizes for the first to third place and merit for the fourth place which is fine if you ask me.

[Hatchy]

Task 1 is related to some education regarding BTC and creating technical awareness, comparing both on same horizon would be ...

BTC prediction contest in a way engages people with the price aspect not really educate them but it's still some way to bring awareness because if you don't understand how price works you won't be able to give the predictions accurately. I understand your concern about this topic and honestly 50merits for the 4th position seems a bit too much to me, as many would rather be bent on getting the 50merits instead. But that aside, mindrust is a honest member of the forum and his intentions about the merits were genuine I'm very sure. He sends out his smerits through various methods he so please.

[Ojima-ojo]

For as long as it involves task related to Bitcoin price speculation which will be as a result of carful analysis of the chart before posting the entry is somewhat a task demanding to me and should be worthy of rewards both  cash and merit's as mentioned on the thread.

I don't see anything wrong with that, as long as the ops is not giving away the merit's for doing nothing or trading the merit's for money, so for me is a welcome development.

[TryNinja]

I don’t know about this…

I can understand giving merits for people who try lightning or run a bitcoin node, because you are at least learning something about BTC and being a “real user”.

But raffles and prediction contests? That’s too far off from what the merit system was designed for. It’s too lucky based so I don’t like it.

[memehunter]

There have been other contest that has involved merits awards and some local contest in our Local board has merits awards

There are so many contests in the forum whose rewards are merits, even in some local boards we have them.

Please post some links to those threads for my better understanding and a worthwhile discussion.

mindrust is a honest member of the forum and his intentions about the merits were genuine I'm very sure.

Thanks a lot for your certificate. This is about discussing the policy about merits in giveaways.

BTC prediction contest in a way engages people with the price aspect

lol, this is as valid as choosing a random number to lottery, ok may be 0.1% extra skill play but that is not the point of discussion. Anybody can host any contest.   

But raffles and prediction contests? That’s too far off from what the merit system was designed for. It’s too lucky based so I don’t like it.

Exactly.

[mrust_mobile]

I actually thought about this when i was making merits a reward but somehow ended up seeing no harm in it. It is not about the usd value of merits. Think the fourth spot as a special prize winner. It doesn’t mean 50 merits are worth more or less than $25. That’s not about that. It is about making one more person happy, sending home with a prize.

It is just a lottery and the winner in this case it is the fourth place wins some merits. I don’t think it is against the rules and fundamentally i don’t see it much different than a “run a node get merits” scheme.

This one is, “make a prediction and win merits if you happen to land on fourth spot”

That’s about it.

[Cryptoprincess101]

I don’t know about this…

I can understand giving merits for people who try lightning or run a bitcoin node, because you are at least learning something about BTC and being a “real user”.

But raffles and prediction contests? That’s too far off from what the merit system was designed for. It’s too lucky based so I don’t like it.

If the true purpose of the merit system were to be checked, then you will see that many of us are victims of not using it appropriately because some people just give merits as if here is social media platforms where you ''like'' someone's post or videos. That notwithstanding, doing merits giveaway in prediction contests shouldn't be a problem since it's just a way of rewarding a winner. If we criticize merits giveaway in prediction contests that means we will have to criticize merits being sent in almost all contests being held in the forum including the just concluded Pumpkin calving contest.

[fillippone]

Provided that can't see anything illegal according to forum rules about this contest, I think we can frown this behaviour.
I personally dropped 50 merits to a silly postsnot linking any of them here- too many references here.
Promising to drop 50 merits to a participant to a contest, might be a borderline use.
Little does help the cause the fact that the participation to the contest is free - that would be a blatant red flag.

[TryNinja]

I don’t know about this…

I can understand giving merits for people who try lightning or run a bitcoin node, because you are at least learning something about BTC and being a “real user”.

But raffles and prediction contests? That’s too far off from what the merit system was designed for. It’s too lucky based so I don’t like it.

If the true purpose of the merit system were to be checked, then you will see that many of us are victims of not using it appropriately because some people just give merits as if here is social media platforms where you ''like'' someone's post or videos. That notwithstanding, doing merits giveaway in prediction contests shouldn't be a problem since it's just a way of rewarding a winner. If we criticize merits giveaway in prediction contests that means we will have to criticize merits being sent in almost all contests being held in the forum including the just concluded Pumpkin calving contest.

I can’t understand those comparisons.

Are you being a user? Posting, interacting, participating?

Think of this like proof of work. If you are active, part of the community, not spamming… I see nothing wrong with merits that aren’t solely for good informative posts.

But 50 merits for someone writing “BTC price 101k” and just luckily getting it right? Isn’t that too much?

Taking hours to make a BTC pizza, or a pumpkin, that’s 1000x more proof of work than choosing a random number. That’s the difference.

[LFC_Bitcoin]

He can do what he wants, they’re his Merits and he can distribute them as he pleases, as long as he’s not abusing the system, which he isn’t.

One of his rules for the contest is you must have received 50 Merit to qualify so he’s not allowing new, low quality accounts to participate any way.

All fine in my opinion.

[Cryptoprincess101]

I don’t know about this…

I can understand giving merits for people who try lightning or run a bitcoin node, because you are at least learning something about BTC and being a “real user”.

But raffles and prediction contests? That’s too far off from what the merit system was designed for. It’s too lucky based so I don’t like it.

If the true purpose of the merit system were to be checked, then you will see that many of us are victims of not using it appropriately because some people just give merits as if here is social media platforms where you ''like'' someone's post or videos. That notwithstanding, doing merits giveaway in prediction contests shouldn't be a problem since it's just a way of rewarding a winner. If we criticize merits giveaway in prediction contests that means we will have to criticize merits being sent in almost all contests being held in the forum including the just concluded Pumpkin calving contest.

I can’t understand those comparisons.

Are you being a user? Posting, interacting, participating?

Think of this like proof of work. If you are active, part of the community, not spamming… I see nothing wrong with merits that aren’t solely for good informative posts.

But 50 merits for someone writing “BTC price 101k” and just luckily getting it right? Isn’t that too much?

50 merits giveaway for a price prediction contest in way high, i agree. Maybe the host would have reduced it to 20 merits because it even looks like the 50 merits is higher than the price for the third winner which is $25, lol.

Taking hours to make a BTC pizza, or a pumpkin, that’s 1000x more proof of work than choosing a random number. That’s the difference.

That's true anyways, it's not easy spending hours baking pizza or calving a pumpkin and not get a little compensation through merit since it will stand as a good motivation for their efforts. I concur!

[mindrust]

I don’t know about this…

I can understand giving merits for people who try lightning or run a bitcoin node, because you are at least learning something about BTC and being a “real user”.

But raffles and prediction contests? That’s too far off from what the merit system was designed for. It’s too lucky based so I don’t like it.

If the true purpose of the merit system were to be checked, then you will see that many of us are victims of not using it appropriately because some people just give merits as if here is social media platforms where you ''like'' someone's post or videos. That notwithstanding, doing merits giveaway in prediction contests shouldn't be a problem since it's just a way of rewarding a winner. If we criticize merits giveaway in prediction contests that means we will have to criticize merits being sent in almost all contests being held in the forum including the just concluded Pumpkin calving contest.

I can’t understand those comparisons.

Are you being a user? Posting, interacting, participating?

Think of this like proof of work. If you are active, part of the community, not spamming… I see nothing wrong with merits that aren’t solely for good informative posts.

But 50 merits for someone writing “BTC price 101k” and just luckily getting it right? Isn’t that too much?

50 merits giveaway for a price prediction contest in way high, i agree. Maybe the host would have reduced it to 20 merits because it even looks like the 50 merits is higher than the price for the third winner which is $25, lol.

Taking hours to make a BTC pizza, or a pumpkin, that’s 1000x more proof of work than choosing a random number. That’s the difference.

That's true anyways, it's not easy spending hours baking pizza or calving a contest and not get a little compensation through merit since it will stand as a good motivation for their efforts. I concur!

I probably have gone pretty overboard with the 50 merits reward, if could do it all over again, i would probably do 20 merits or something but the deal is closed. I can't back on my word anymoar. Shiet.

Shit my fat finger just sent someone 50 merits recently. D'uh, anyway shit happens. We need to move on.

[memehunter]

It doesn’t mean 50 merits are worth more or less than $25. That’s not about that.

You literally chose smallest font size for '50 merits' smaller than $25 font size. Besides that, the order of prize pool itself is enough to show that you actually thought that 50 merits are less important than $25. I am not going to buy this argument of yours.

If we criticize merits giveaway in prediction contests that means we will have to criticize merits being sent in almost all contests being held in the forum including the just concluded Pumpkin calving contest.

Just because some issue needs detailed discussion that does not mean it should not be done.

as long as he’s not abusing the system, which he isn’t.

IMO it is a borderline abuse, worthy of a discussion not tag.

One of his rules for the contest is you must have received 50 Merit to qualify so he’s not allowing new, low quality accounts to participate any way.

Well I have a different interpretation of why he chose his second account for this and the 50 merit requirements but I will keep it to myself. Here the scope of discussion is very limited, is giving away merits in giveaways should be allowed or not? I respect your straightforward answer though.

[mindrust]

It doesn’t mean 50 merits are worth more or less than $25. That’s not about that.

You literally chose smallest font size for '50 merits' smaller than $25 font size. Besides that, the order of prize pool itself is enough to show that you actually thought that 50 merits are less important than $25. I am not going to buy this argument of yours.

Since when font size indicate anything about the price of anything?

Where did you see me assigning a price for merits?

Go check all of my posts. I'll wait.

Well I have a different interpretation of why he chose his second account for this and the 50 merit requirements but I will keep it to myself. Here the scope of discussion is very limited, is giving away merits in giveaways should be allowed or not? I respect your straightforward answer though.

Ok let's get over with it too while the discussion is open. Could it be that i am gaining merits for my alt account? Was that a bingo?

[memehunter]

Since when font size indicate anything about the price of anything?

Please explain your thought process behind choosing different font size? You were not assigning lesser importance for lower places? That is where it hurt me the most, just to be clear about this.

Could it be that i am gaining merits for my alt account? Was that a bingo?

even if you are I will keep that thought to myself as that is not the point here. Nothing wrong in that dont worry, you will be Sr member sooner or later with that account too (may be sooner with such contests(.

[mindrust]

Since when font size indicate anything about the price of anything?

Please explain your thought process behind choosing different font size? You were not assigning lesser importance for lower places? That is where it hurt me the most, just to be clear about this.

The process was random memehunter. I was going to close the deal with 3 spots 100 > 50 > 25 usd but then it strike me, "why not add one more spot and make the prize 50 merits?"

Then I said lezz gooooo

 

Lez go man lezz goo