Noticed this new service on hive recently called @hive-bounty and after reading their announcement post I wanted to post my views about it and maybe some new additions they may consider down the line.
At first sight it reminds me a bit of the BCH bounty thing on twitter. That was something Ipersonally wasn't much of a fan of due to how it affected POSH rewards which lead to us having to implement a way to ban certain tweets from earning POSH to keep things fair. It also resulted in a lot of bots on Twitter being the first to automatically claim most of the bounty which I'm not sure how it can be combated exactly. It's also one of the only things I'm a little bit concerned about with POSH as people seem to either manually spam certain activities that'll get them more POSH or start using bots. While it has been manageable thus far we'll have to see how we combat it in the future (if there is a future for our poshtoken bot (read my twitter statement in a previous post)).
Either way, this bounty program on Hive has a lot more potential than the one above, and I can see from some settings mentioned in the announcement post that it's already a lot better in comparison. Not just due to the way we can combat and handle spam/fake activity here but also some settings that make this easier for the author or bounty organizer. Let's look at what setting I'm talking about:
I'm referring to the one called Creator Weightings, as explained in their post:
Although looking at its recent payment I am unsure if that part is working correctly, I believe the creator of the bounty on my April fool's post was @schlees (Thanks for trying it there, btw), and the person who got paid the most of the bounty was @misshugo for her comment:
Apart from the double spend which I'm assuming is for certain a mistake as the bounty was only 10 Hive and it paid out a lot more, I'm also a bit confused as to why her comment received so much compared to the rest:
Her comment didn't have a vote from the creator of the bounty and in general has as much pending rewards as most of the comments in the post. So while I'm guessing this is just early testing which is the reason to most math mistakes, let's go back to talking about the service and my thoughts surrounding it.
The reason I noticed this to begin with was a transaction from it to @poshtoken, so one idea of mine would be to let creators of bounties ignore certain well known bots. For instance the service could have a list of known bots which we have and make use in #posh and #gosh as well so the creator can checkmark to skip sending bounties to them.
Another option I'd like to see at some point would be that instead of just the creator weight there could also be author weight or a mix of both. So the equations behind how the bounty is distributed could be 33% community (everyone else's votes on the comments), 33% creator of the bounty and 33% author of the post.
Another thing that could be cool to add would be to set certain parameters of reputation behind accounts, this could give some extra value behind that reputation number and avoid bots going for bounties solely if the service becomes popular. This part now brings me to another suggestion:
Anonymous/hidden bounties
Since Hive has the possibility to encrypt memo's, simply by having the memo key in your keychain/accessible and placing a # before you write out the memo, this could enable people to place bounties without people knowing where it was placed. This feature could reward those who aren't just commenting for the sake of commenting but are quite engaging in general. This feature would of course mean that the comment wouldn't be placed in the shared post:
Either way, something to think about. It's definitely something I would prefer to use to reward more genuine engagement in posts.
Alright, some ending thoughts on the project.
In general I like it, it can increase overall engagement, whether some of it may be forced or not. It already gives you proper tools to mitigate rewarding things you don't want, even mentions that if the creator places a 1% downvote the comment won't receive a bounty whichi is nice to have, and with the (possible future) option of letting the author direct the bounty it would give him that control as well.
The service takes a fee which can be set by the creator but is at minimum 1% which is fine and acceptable. The main question here is how could one fund this kind of activity more broadly rather than just having a creator donate to a bounty. Now some of you may know that I'm not a stranger to use voting power for purposes that positively affect the whole community/ecosystem, think like stakeholders who upvote hbd.funder comments knowing it helps stabilize HBD and also provides some profit back to the DHF. Similarly if this project continues to improve and people see a lot of positivity coming from its existence, I wouldn't mind if daily automated posts announcing things like amount of bounties created, which posts they were used on, who got how much rewards, etc, could be upvoted. There, though, I'd wanna see the funding go towards generating more bounties that could be placed on posts through certain parameters or voting, maybe even the anonymous bounty idea behind them to generally improve and reward more engagement. As long as it's not one person/entity/project itself receiving post rewards for automated posts and they'd clearly mention what they're using the rewards for I don't see anything wrong from some extra funding coming from the reward pool for it, especially once the project is fine-tuned and working perfectly. Though I wouldn't mind hearing your thoughts on that.
Anyway, just some quick thoughts and potential ideas for this project I noticed randomly. Thanks for reading, go test it out and let me know what you think!
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The rewards earned on this comment will go directly to the people( @acidyo, @seckorama, @seki1 ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Glad you liked it, but with "nothing new" (post) were more likely referring to this project instead of this "twitter thing".
We even sent the transactions a 3rd time, but now things are running smooth. 😃
If this bounty goes through smoothly, you may consider every current problem definitly as solved.
The reason @misshugo got the biggest payout was cause of the settings (99% weighting set to community). We decided to give every user the same weighting without considering the stake, so a voice is a voice. You voted her comment with 1%, she votet herself with 100% and got another 100% vote - this is why her payout is that huge compared to the others. A checkbox to include Stake and/or Rep into this calculation could be a good idea.
The idea about setting a "author weighting" when starting a bounty on another users post is very nice and could solve this as well.
We have a few small rounding errors in the calculation, which is why 9.928 HIVE instead of the actual 9.9 HIVE was paid out, but we're working on this, too.
Bots like @poshtoken are about to be excluded during soon implemented updates.
Thanks for your suggestions and also for opening this discussion!
Oh, didn't notice the self-vote, guess that explains it then.
Thanks for the comment and good luck with development!
What happens to the bounty if there is no engagement?
That would be pretty sad to be honest :).
We did not implement this in the first version since we don´t think people will set a bounty without voting any comments, but the money excluding the fee will be sent back to the issuer within the next update if there is no engagement.
I was wondering why I got 3 payouts, I wanted to ask this morning if perhaps it was a glitch 🧐. So thanks for clarifying that!!
Yeah I got sent some Hive, then went onto their account to find out why. It seems like a cool project and with some implications like you mentioned it could be a really good initiative that can reward genuine engagement.
Maybe if they even had a way of automatically ignoring comments under a certain amount of words, so there's no cheating it by spamming a bunch of posts saying stuff like 'cool post' 'awesome work'
I'll have to look into it more, because I'm still a bit unsure about how to set one, I can figure it out when I get onto the computer though.
Thanks, this will be considered for sure!
Another good idea for different parameters!
I noticed as well the advent of @hive-bounty and I had a look as well.
I think that it can be used as a meritocratic way to distribute some Hive on posts that deserves attention or interactions as well, to stimulate it.
Besides, yes, you are right when saying that a "Summary post" would be useful for them as well to gather some resources with the "Bounty Ranking posts" with a small chart of the Bounty created (with a small cashback on the Bounty creators eventually) and the bigger bounty earners.
I was thinking what is @hive-bounty and why they send me Hive XD
This idea made a lot of sense to me. It might encourage people to make quality comments. I will test this feature in one of my next posts and see how it works.
I was a bit confused when I saw the hive-bounty on my account.
Well my comment was the lucky one it seems, interesting 🤔.
Thanks for explaining all of this, it seems like a mathematical problem, and I even struggled to pass math as uni... I hope the peeps are smart and figure this thing out!
no worries, I'm sure they figure out the errors there, grats on the lucky strike :D
Hey sis you're not alone, i suck at maths😂
When I first saw this last week I did think it was another CashRain like you pointed out.
However on digging down, I changed my mind and like it.
Anything that brings more engagement is a great thing imb.
Of course getting a wee reward always sweetends the fingers too!
Saw this hive bounty stuff yesterday and I was quite surprised...
It seems like a great idea and a lovely way to increase engagements...
It would be nice though if the bounty could be set and only the post author and the setter of the bounty would know it was set though...
Then when the bounty has been paid out, the bounty set would be public for everyone to see...
I think that would avoid people commenting on posts that just have a bounty...
I received a bounty this morning, but I was ignorant of what that was, until I came across this post. I believe this is going to be an interesting project, especially if your suggestions are taken into consideration.
Such an interesting project with a huge potential. I was baffled with the transaction I received and after little digging found the introduction post, but I just glanced over it to see what is it all about.
Now your post showed some features I wasn't aware of. Thanks 😎
I guess people can keep an eye on it.
Hopefully, it won’t become exploit city.
https://leofinance.io/threads/@acidyo/re-leothreads-9hqpwdfa
https://leofinance.io/threads/@seckorama/re-leothreads-2fyfnptde
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It's 5:20 am here, I'm falling asleep, I should be sleeping, but I left this comment here to remind myself tomorrow to reread the post to understand better
hugs
To be honest, I first learned about Hive Bounty. Thanks for bringing up the subject nicely and addressing this.
I also received Hive from hive bounty and i was amazed why they sent me hive and i start to over thinking about it that maybe i won a contest or whatever something else 😅
First time reading about that service, but it looks interesting!
I really like this idea, as it seems a good way to deal with "fake" engagement.
Also I had no idea one could encript Memo, so that's 2 things learned from your post!
Laughs I also got a double payout... not as much as misshugo but at least it is still also a stroke of luck! Laughs
I've never heard of this before. Very interesting. I don't feel like I totally understand how it works. I might have to dig into it a little more.
this reminds me of something we already had in the old chain but I'm not sure i think we did didn't we? anyways I was wondering what that transfer was for LOL i didn't even read the comment of the bounty before commenting on the post maybe if you mute it so other wont see it before commenting would help
We did. 😄
Basically our "inspiration" here - check out Hive-Bounty Classic, thats how it worked before.
Feels like vote buying, but for engagement? Paying people to hang out in your comments? :D
The first thing I think of for using a service like this is to promote the #introduceyourself post of a new user for them. I'll try it out next week as I have a new friend who just created their account and is planning on doing their intro post through the weekend. Really hoping this one sticks around because she is a talented developer and just a very interesting person in general. We need as much of that as we can get around here.
So @acidyo I see ive gotten another fraction of Hive sent to me.... Do you have amy notion of what's going on, can I send this back perhaps?
You can keep all 3 payouts, no worries. 🙂
Ah, random liquid HIVE coming in for engaging on posts. Time to stop engaging altogether I guess!
Uncle Sam Bankman likes this.
Was just about to ask you are you the one who built hive bounty got my answer finally haha. Thanks for the explanation though was wondering why is giving me free hive. I'm not complaining hehe.
This seems like it could be a good idea, in the right hands :) ... Maybe some people would use it as a sort of contest to find the best posts Hivewide of a specific genre. Best vacation pictures, best fictional story, etc.
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Thank you for the heads up and the information provided so that it will be easy for us to understand.
When i got the notification i was really surprised, i was sure that i didn't engage in any contest until i started reading about it. Hive bounty is really nice if you ask me.