How to create a bounty
We have been working on the steem-bounty app over the last few weeks and while we are still not ready to launch it yet fully, the basic functionality of the bounty is working well enough that risky users may try it out as of now.
We are working on a UI and until that is ready, we think that the usability more exiting and useful. The website should be ready in about 2 months if our plans hold up. In the mean time we wanted to explain with this post how bounties work and how you can use them if you like even without the fancy frontend.
Be aware that this is very beta
While we have tested the workings, please be aware that this is a beta version of the functionality and your bounty may not work 100% as intended. Should any issues arise we will try to correct it, but please be aware that this may not always be possible.
Setting up a bounty
Creating a bounty is very simple. All you have to do is send any amount in steem or SBD to the "steem-bounty" account with the post URL that shall receive the bounty. In other words anyone can put a bounty on any post provided it has not been paid out yet.
Once you have send the funds to a valid post, steem-bounty will setup the bounty for you and write a corresponding comment to the post.
If that did not work for any reasons steem-bounty will send the funds back to you.
How to vote for the winners?
Any comment submitted to the post with the bounty is considered eligible for the bounty payout. Which comments receives how much depends on the votes the comments received. But not all votes are created equal.
The bounty is separated into two parts:
- 80% of the bounty is distributed according to the votes from the bounty creator. If the creator votes for more than one comments the relative %-age of the vote determines the distribution. In other words, bounty creators vote with their %-age sliders. This is to allow the bounty creator to disperse most of the bounty and give him or her a very simple way to select how much to give to each contributor.
- 20% or the rest of the bounty is determined by votes of everyone else that voted on the comments. The weight of each vote is hereby determined via the "rshares" or the effective vote values as they are displayed by steemit (those $ amounts you see next to the votes).
If only the bounty creator fails to vote, the community votes determine the entire bounty and vice versa. If no votes exist the bounty will be re-funded.
Payout of the bounty
7 days after the creation of the post (not of the bounty) steem-bounty will tally all the votes and pay out each comment that received so much votes that its creator would at least get 0.001 Steem or SBD depending of the currency of the bounty.
Steem-bounty will also provide a corresponding memo and post under the winning comment.
Here is an example of the comment message:
And here an example of the transaction and memo:
We currently have a simple fee structure where we keep a few % of the overall bounty. We are going to implement better fee structures that allow us to offer the service without taking away from the bounty directly. Those will be released with future version.
Bounty tag
We suggest you use the "bounty" or "steem-bounty" tag in your post. This will allow others to find post easily and for us to promote your post.
Refer to the bounty in your post
Since we do not have a website yet, make sure to mention the bounty in your post of better yet in your headline.
This will get you extra attention from users.
Next steps
So the basic functionality is working and we would be delighted if you used it. We think the biggest way to make an impact is to provide a way to find bounty post very easily. This is why we are working on a website that will make it easy for bounty hunters to find bounty post, which should then also make it more rewarding for folks that post the bounties.
In the meantime feel free to use this functionality or wait until the next version will come out which will have a lot more useful features.
Support our witness
Thank you very much for your attention and we hope you will vote for us as witness!
In order to do soyou can go to:
https://steemit.com/~witnesses
And enter the "steem-bounty" account into the text field and click vote.
Or use steem-connect to vote directly for us as Steem witness!
This is a great idea guys, hats off to you! This is an organic way to boost or promote your material, while enticing quality content in the comments by offering payouts to the authors with the best content. I am happy to see folks finding ways to make Steemit more efficient and community friendly without using upvote bots. In all honesty, upvote bots are a selfish creation and should not be used by anyone that genuinely cares for the overall good of the Steemit community, from low ranks to high. This creation of yours is one of the ways the platform can grow and move past the days of using bots to suckle from the community. Absolutely amazing work on developing this :) Cant wait to use it!
May I offer up a suggestion, that you guys find a way to screen the content a user chooses to bounty? I advise allowing only good quality original content to be a bounty post so spam or junk posts are not glorified by such a great idea. The last thing you want is to allow folks to use your bounty platform for pushing bad content because then your hard work may end up being viewed in a bad way in the future. Just as with upvote bots in the beginning of their use, it starts with a pure and genuine idea, but then can be adopted by selfish users to abuse the Steemit platform. This project is way to beneficial for the community to allow it to become a tool for some spammer to promote junk posts, so let's see to it that we keep it a pure and honest project. I have a couple ideas on helping with that, if interested in talking about it.
As I have said a few times, great work guys! This is an amazingly innovative idea and tool for the Steemit platform! Going to run my first bounty soon ;) Thanks for making that possible!!!
Am happy with the kind of innovation that Steemians are bringing up and I love it. It makes this platform exciting and everybody wants to stick around. I also wish to use this opportunity to appreciate you @terminallyill for the work you do with greetersguild.
Please, i have an idea i have been cooking up and since 1 month ago, i have been arranging how i think it should work. Already, i have a friend @bunnypuncher who i told about it and he liked it so much. So i want to get you involved. If you could please drop your dicord ID, i can send you a friend request or you could add me. my ID is focusnow#1571. I want to let you know about how it works and see if you can advice on how to make it better. I also want to make you the third party to the project.
@focusnow my Discord is LuckyDev#1969. Thank you for your support my friend! Hope to hear from you!
nice and informative post what are the benefits as a witness why every one want to be witness
Just read your post , thanks for sharing will resteem it to share with my subs I am sure they will like to read it too
It's more for the community than self-rewarding. I've spent over 400$ as a witness and made 0$
Not clear what is the point in making the bounty. Isn't it motivating people to upvote every single comment? And what?
The idea is to incentive people to write meaningful comments, organize contest or ask the world a hard question.
@knircky Thanks! This thread inspired me to make a meme. Here are the results. https://steemit.com/rickandmorty/@crystalhuman/i-noticed-that-most-people-won-t-take-the-time-write-a-good-comment-unless-they-might-get-paid-for-it
Hope you like it. :)
Hope the UI can be released soon.
I am waiting till this come soon. Thanks.
Its good information provided. Good work for the steemit community. Thanks for sharing.
You got a 7.57% upvote from @thebot courtesy of @thedawn!
Please delegate us Steem Power & get 97% daily rewards share!
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I love seeing my upvote in this post as part of the @frontrunner guild for @booster BEFORE the booster upvote comes, so I earn lots of curation on these posts :D
And I LOVE the idea of steem bounty! WE SHOULD be using the fucking reward pool to get SERIOUS WORK done! IMAGINE what we could get odne if we just used $100,000 a week on bounties !
we are all waiting for it
PURE GENIUS!!! Thank You for this!
I've been wanting to do something similar on my video posts... but the manual tallying (even semi-automated) effort would be just too much for me to handle, so I haven't!
I'm DEFINITELY going to be trying this on my next video (so that I can use the tag)... and once you're out of beta, you have a customer for life!
Another HIGH-5 to the folks behind this project!!!
P.S. You've got an error in the "vote directly for us as Steem witness!" link... it's pointing to
https://steemconnect.com/sign/account-witness-vote?witness=steem-witness&approve=1
instead of
https://steemconnect.com/sign/account-witness-vote?witness=steem-bounty&approve=1
i.e. steem-witness vs steem-bounty
WOOHOOO ... so I've created my first bounty (https://steemit.com/recipe/@braaiboy/x3xy3r3d - if you're interested)... It's only 1 SBD, but please go check out my page, and I'll be adding more substantial bounties to my DTube videos in future.
@steem-bounty / @knircky : Quick question though... when deciding weights:
re "Any comment submitted to the post with the bounty is considered eligible for the bounty payout." - an idea for future dev if it's not already included: exclude flagged and/or comments where OP has commented "exclude" or something similar - so as to prevent spammers commenting and using bots on own comments.
re "will tally all the votes and pay out each comment that received so much votes that its creator would at least get 0.001"
Is this the original comment upvote value (author rewards) or the resulting bounty value that needs to calc to > 0.001?
i.e. My own vote is still VERY small (I'm still new here to Steemit), and I generally like to Upvote every (well... non-spam) comment with say a 20-25% vote, and the better ones with 50%+ etc... but with the bounty I foresee needing to make that 5% and 20% (or else I'm going to have 0 Voting power pretty quick every week... I hope :-))
Anyway... so, the question is:
Assuming, 0 community votes for easier math, I'm giving away a 5 SBD bounty and there are 10 comments each with 5% from me and 1 voter with 50% from me... then (roughly) the 1 comment should get 2.5SBD and the other 10 would get (0.277 SBD)... which is more than 0.001 ... i.e. COOL!
BUT... if the 0.001 refers to my Upvote that I assign to each comment, then my 4 cents vote at 5% would result in < 0.001 author reward for that comment.
i.e. long story short: is the 0.001 limit based on the (potential) bounty payout or the comment's Steemit payout value.
So your upvote is determined by the %-age u use via vote slider as the bounty creator. The value of your vote does not matter if you are the bounty creator.
For the community it is the value of the vote that matters. That way automatically flagged comments won't get any value and we can take the votes away by flagging if they are abusive.
0.001 limit is on the payout (because u cannot sent amounts smaller than that). But if you are the creator and u upvote the value does not matter at all only the %-age. So a vote with the value of 0.00 Steem can still result in a payout of 80% of the bounty.
Thanks for using the bounty! Let me know if that clears things up!!!!
100% clear now... Thanks!
If a writer upvotes 4 replies in order of ( 100%, 50%, 30% 20% age), (in the case that this writer set 200$ bountry) the bountry is contributed like 100$, 50$,30$, 20$ to each reply right? (this writer does distribute the bountry by more than 100%) I mean, it is not like (20% 30% 50%).
And a bountry taker is decided by the creator when the creator upvotes. Then the reason why there is 20% influence of other people is because sometimes a creator doesn't upvote any reply. right?
Ok... sorry about that... that was neither 1 question nor "quick" :P
OK, OK... sorry... ANOTHER question:
What about 2nd & 3rd level comments etc?
i.e. replies of replies of replies? Do all levels of replies qualify for bounty or just 1st level replies?
Also... I assume/hope OP comments replies get ignored? I just had a guy give me an upvote on a reply to his reply.
Only the 1st level reply qualify for the bounty. And any 1st level reply except from steem-bounty qualify even your own.
Awesome!
interesting