Well, at least in my country, cryptocurrencies are still a loophole when it comes to tax, regulations aren't thought out and cryptocurrencies aren't taxable. Honestly, the amount most of the bounty hunters earn aren't enough to tax, I mean, when it's taxed it would be so low that every user here would be forced to use multis for bounty hunting, otherwise, you can't make a living from it.
So taking bounty hunting as a freelance off-record work. Let's be honest here, some of us have switched to full-time bounty hunting from our day jobs, to be a freelance taxpayer, you need a tax registration certificate, how many of us have it here?
Both these two decisions aim at getting extra income to improve financial condition of those involved in it. Taking it as a full time job can be done either as investors, traders or participants in crypto related projects like bounty campaign. But besides that, it can be taken also as a part time job for the same purpose that is getting extra money. It may be because of your hobby to do that. Why , here you can discuss and share information with others and of course can increase your knowledge about crypto world. I myself, take and join bounty campaign as my part time job to get additional income.