I don't think participating in bounty is a waste of time. I have been doing bounty since 2017 ending and It has really changed my story as a young graduate without a job. I used to join most bounty campaigns with my Facebook, Twitter, Reddit, telegram and blog. Once the bounty campaign, I will get a reasonable token that can get me reasonable earning. Bounty is like other businesses, you win some and lose some. Make sure to research the projects before you participate in their bounty campaign to reduce the number lost in the bounty campaign.