Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Paulomits on July 31, 2018, 04:57:49 AM
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Your criteria for choosing a good bounty should be practically the same as that criteria you would have if you were considering making a financial investment in the project. Remember, even if you're not investing money, when you participate in a bounty you're still investing. You're simply investing time rather than money. And you expect compensation for it. Why would you participate in a bounty for a project you're not interested in investing in? It makes no sense. Overview of what you should look for:
1. Does their project solve an actual need? Do they actually have a business here which they can monetize?
2. Look for some kind of MVP at the very least. Are they actually building something technically interesting? What do they have so far
3. Team. Can they pull it off?
4. Cryptoeconomics. Do they actually need a token as part of their business model. Hint: most don't. Projects like Augur for example do.
5. Who have they partnered with? Being partnered with big names e.g. BitcoinSuisse/AmaZix is a lot better as they projects do much more in depth due diligence and help hold the projects to account. If the project is managing their own bounty, instead of it being professionally managed, what reason do they have to actually pay you?
6. Look for projects that are straight forward & blunt with people. Not projects that vomit out useless marketing pieces about how they're going to "revolutionize the world". Also avoid projects that are too focused on getting your money / giving investors discounts/bonuses
7. Ask yourself if you think the project will be successful and highly sought after. Will they hit their hardcap? If they only reach 1/4 of their hard cap, chances are their token price won't hold up too well.