Why is the bounty still centralized? I think that it would be cool if the participants themselves moderated other participants.
Without even seeing rest of the post, I disagree with you. The bounty if managed that way would end up having 10 real accounts and every other account would be an alt of each-other.
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You have mentioned everything but how the bounty participants will be recruited which is the most important part of any bounty.If you cannot decentralise that, there is no point of decentralising anything else.