Hey guys, I just want to share my thoughts today about this, I have always said "bounty hunters are not the ones killing projects", but now I'm having second thoughts about it, I participated in youengine bounty campaign for about a week, although it lasted for quite a while,the bounty had about 4 rounds, the bounty ended about a week ago i guess and distribution of "youcash" started, I received about 307 youcash tokens as shown below
By 8am this morning the 307 tokens was worth $10+, i didn't sell, I held on to it, to my greatest surprise this evening I checked my wallet and I saw that the 307 tokens are now worth just 0.35$
Although it recovered later, but it's not looking good at all, I guess this dump is caused by the bounty hunters because they just keep dumping the token, what about you, what do you think is the cause of this massive dump?
By 8am this morning the 307 tokens was worth $10+, i didn't sell, I held on to it, to my greatest surprise this evening I checked my wallet and I saw that the 307 tokens are now worth just 0.35$
Although it recovered later, but it's not looking good at all, I guess this dump is caused by the bounty hunters because they just keep dumping the token, what about you, what do you think is the cause of this massive dump?
What happened was just normal since most tokens are expected to drop in value once users bought a lot of it. That also happened to past Airdrops like HAWALA. Even without Bounties, the token value was high but when their second wave of Airdrop commenced, the value suddenly dropped. Its just like that so its just safe to assume that most tokens can possibly lose its value in a small amount of time.
I agree that bounty hunters can affect the price, but why, for example, not pay the rewards immediately and in parts? Many projects do this. Or buy tokens to keep the price down. I don't think bounty hunters are the main factor driving down the price.