Fantastic Bounties & Where To Find Them - A Steem-Bounty Tutorial
Hey Steemians
When it comes to #contest and #giveaways on steemit there is pretty much a never-ending supply. There is literally always something to be won in this generous online community and there have been some very interesting competition mechanisms out there already from winning upvotes, to winning STEEM, SBD or Steem Monster Cards.
Running giveaways on Steemit
If you've run a competition on Steemit before you'll know exactly how much admin it is, keeping track of all the entries and making sure they all get their prizes. Ain't nobody got time for that.
That's where Steem bounties come in. A simple and easy to use incentive mechanism you can employ to encourage users to interact with your content and reward them fairly for doing so :)
Maybe I got a little time for that! So how exactly does it work? I've broken up this post to answer the most popular questions so you can quickly get the info you need to get started with bounties!
How to create a Steem-Bounties?
There are two ways of creating a Steem Bounty:
Via Steemit
- To create a bounty via steemit the first step is to naturally create the post you want to set the bounty on
- Protip! Include Steem Bounty in the title & one of the tags to get more attention
Now to set the bounty:
Head to your wallet
Select either SBD or STEEM as the reward you want to use as the bounty reward. This can be any amount from 0.001 SBD/STEEM up to whatever you feel like
Select Transfer
Then add the account to address as steem-bounty without the @sign
Add the amount of SBD or STEEM you want to put up as the prize
Add a link to the post you want the bounty to be attached to
Click next and confirm the transfer
- If done successfully it may take a few seconds or up to a few minutes to validate.
- You will then received a confirmation comment by the steem-bounty account on your post to say the bounty is now active
Via the Steem Bounty Website
Alternatively, you can use the Steem Bounty site itself to create one:
- Head over to https://steem-bounty.com
- Click the pencil icon in the top right corner
- Connect your account via Steem Connect
- You will then be sent to a post creation page and simply complete all the fields and click post
How do Steem-Bounties work?
Once a bounty is set the author of the post as placed an additional reward on their post for users who engage with it. Let's say for example I created a post and added 1 STEEM as the bounty
- If you were to comment and I the author voted on your post 100% you would receive the entire bounty
- If two users comment and I the author voted on both your post 100% you would receive the 50% bounty
Now it begins to get a bit more complicated as the author could change their vote % as well as influence from others voting on your comment which I will explain later.
All you need to know here is if the author upvotes your comment you are entitled to the piece of the bounty prize.
How to earn Steem-Bounties?
If you're interested in earning Steem Bounties all you need to do is either visit the:
- Steem Bounties website - https://steem-bounty.com
- Steem Bounties tag on steemit - https://steemit.com/trending/steem-bounty
Here you will find all the bounties that are active. All you will need to do is read the instructions and enter.
How are Steem-Bounties paid out?
Steem Bounties work on an 80/20 rule:
Once a bounty is set on a post 80% of the value is decided on by the author. When the author votes on a comment he/she can allocate 80% of the value to various comments.
The other 20% is determined by votes of everyone else that voted on the comments.
Note: As of last month the 80/20 rule has been updated toa 95/5 rule so community votes now only have command of 5% of the bounty for allocation. You can read more about the rule change here
When are Steem-Bounties paid?
7 days after the creation of the post (not of the bounty) steem-bounty will tally all the votes and their vote value and pay out each comment that was voted on.
The Steem Bounty account will then comment on the post the bounty was set on tagging each user who received a payout.
The comment will also provide a break down of how much of the bounty was allocated from author votes and how many from community votes. So you have complete transparency and no need to argue over discrepancies.
Here is an example of a bounty paid out comment:
What are the cases for Steem-Bounties?
There really is no right or wrong way to use Steem Bounties and it is really only limited by your imagination so feel free to get creative. Some of the more popular use cases for Steem Bounties have been:
Rewarding research or questions
Users would post a question or ask for research or feedback regarding a certain topic and reward users for the most insightful comment, facts or sources provided
Competitions
The good old competition, create a meme, take a picture, your opinion on a certain topic and reward users for their contributions with a simple upvote.
Increasing engagement on posts
Are your posts not getting much interaction? Maybe encouraging users with the lure of additional rewards would be a good way to get your audience more involved in commenting.
Increasing exposure on your posts
When you successfully add your post to Steem bounty it is automatically listed on the https://steem-bounty.com website and any bounty hunter can find it there! Opening up your post to a little extra exposure.
Show me some love
If you've never got involved in a bounty before now is your chance.
This was my entry for the Let's talk about @steem-bounty or Club Vote - Participate and earn up to 100 STEEM competition. If you thought my post was helpful head over to the competition post here and upvote my comment
Once you're done come back and comment "Upvoted" and I'll upvote your comment so you get a share of the bounty placed on this post.
Simple isn't it? :) So get going bounty-hunters!
Let's connect
If you liked this post sprinkle it with an upvote or resteem and if you don't already, consider following me @chekohler
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After reading your entry I have many ideas how to use steem bounty! I love posts which inspire me.
awww, Always the sweetest :). I'm glad you got some inspriration from the post and I look forward to seeing you try out bounties. I've been using it for some time now just messing around with it really but its good fun :)
@chekohler has set 1.000 SBD bounty on this post!
Bounties are a new way you can earn rewards irrespective of you Steem Power. Go here to learn how bounties work.
Earn the bounty by commenting what you think the bounty creator wants to know from you.
Find more bounties here and become a bounty hunter.
Happy Rewards Hunting!
Congratulations to the following winner(s) of the bounty!
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Upvoted! Because really useful. I just started using steem-bounty for my foodmodel contest and still trying to wrap my head around it. Now I understand more. Thank you :)
Awww thanks! Glad I could clear it up for you, yes I entered the last one very cool idea, I liked it! Hope you’ll continue to have fun with it, I know I will! 😬
Posted using Partiko iOS
Love the title dude!!! And bounties are definitely one of the cooler initiatives on steemit!! I had no idea how easy it was to setup!! Thanks for the info!! I might try to setup one in this coming week!!
Posted using Partiko Android
LOL! Cutting it close to get in for the bounty but looks like you made it! Funny I wonder how many people picked up on the title you the only one who mentioned it
Posted using Partiko iOS
What can i say, bounty hunters love to live dangerously!!! Not as many rowling geeks here as we thought then!!
Posted using Partiko Android
Upvoted
Good post, thanks. I think I'll start using Steem bounty more as it does look like a good way of getting more engagement, in a fun way.
Posted using Partiko Android
Thanks man! It also provides more transparency, I've seen many competitions run on steemit where users argued that it was rigged or unfair, with bounties its all out in the open
The 80/20 rule has changed and now the author decides 95% value of bounties.
https://steemit.com/steem-bounty/@steem-bounty/lets-try-something-new-5-community-reward
Thanks so much for the feedback. I've since ammended the article with the updated rule change, much appreciated!
Voted as much as I could at that blogpost.
I think this is very nice to use when you have some special question or need help . But also when to start a good discussion
Lol thanks man! I know I gave you a quick explanation in the comments of my old post so when I saw the competition I thought well let’s make a guide! Hope it helps more people get into bounties because I think it’s a really cool tool!
Posted using Partiko iOS
I've been wondering how this bounty thing works as I wanted to create more engagement on my posts and was going to do it manually. This may be an easier, more productive way.Thanks for explaining
Posted using Partiko Android
No problem glad I could help and I look forward to seeing you put up your first bounty! I’ve used it a couple of times and I think it’s pretty fun if you have a juicy topic to talk about or creative idea you want to try out
Posted using Partiko iOS
it's probs too late but whatever, I dig the name of this post
Upvoted!
Lol thanks I thought more people would get the reference, but you were the second!
It's never too late! Lol ok maybe sometimes, but you made it just in time to get in on the bounty, cutting it close, I see you like to live dangerously, I like that!
Upvoted, thanks for explaining it. I might try to have a contest at some point.
lol the comment king will want to reward comments! Can't think of a better advocate for bounties than you