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?
I usually do not interfere in claims as this; but claiming that bounty hunter truly kill projects is a bias, stingy review. I also participated in the youc bounty; and in fact before the spreadsheet was ready or bounty over; the token was trading around 0.06$ / 0.07$. The youc made a mistake regarding token distribution which i will highlight.
When the spreadsheet was done; the publicly announced youc bounty distribution date on their various channels; and that was when the token began to dump. slowly and slowly; the drop in price before bounty distribution led to a situation where the distribution was spread across, with lowest earners getting tokens before the highest earners, and the distribution was spanned around 3-10 days (if i am correct), with wallets distributed to in a day not more than 20-30.
It was after the price was very inconvenient that the team rushed and completed the token distribution.
So can you please advise how and why bounty hunters kill projects? As at Wednesday, (2days back), the token traded at 0.01$.
please clarify and dont portion blames at ease.