Steem-Bounty Review - Use for Contests and Engagement
A new shinny toy was recently announced to the steemit community recently and it looked like ti would be a great fit for the Pay It Forward Curation Contest. Being a new contest I felt it would help to encourage engagement, that is I wanted to get people commenting and have a chance to chat with them.
Source
What is Steem-Bounty
For those that don't understand what Steem-Bounty is let me take a minute and give my take.
Steem-Bounty is a program that any steemit member can use to help encourage engagement on your posts and reward those who take the time to comment. You pick an amount to pay for the "bounty", which is just the amount of the reward pool your commenters will receive. This Bounty/Reward is split into 2 pools of money with 80% decided by the upvotes of the Sponsor (you) and 20% decided by the Community (any upvote other then yours).
So it's important on Steem-Bounty posts to upvote other peoples comments that you feel are quality to help them get an increased portion of the Community portion of the bounty/reward. Don't be selfish, help reward those that deserve it.
Now in case my overview didn't help, here @steem-bounty explains How to Create a Bounty.
Ways to Use Steem Bounty
There are a few ways that I have seen bloggers use this program.
- To reward your followers and hopefully increase your engagement level with them.
- To make sure every entry to a contest wins something (what I'm currently doing)
- Need an answer, Create a post asking the question with a bounty on it.
- Have a task, like need a new logo, add a bounty and reward more then just the winner.
And I'm sure there are other uses for the Bounty and would love to hear about them. Will edit the post if anyone has a good idea of how to use a Bounty that isn't listed.
When is Payout?
Payout happens at post payout. Steem-Bounty comes in and leaves a comment on each qualified comment about how much they earned and transfers all the earnings to the winners. It's all automatic and no work is needed on the sponsors/bloggers end.
Any Issues?
Like anything where money is involved there are some spammers running around to all the bounty posts and leaving BS comments which typically aren't going to get any votes from the Blogger running the contest. They means they can't get any of the 80% reward pool, but they come back right before payout and upvote themselves. This last minute upvote means they are taking part of the community 20% reward pool.
Have chatted with the creators about this issue and they have a couple ideas that might help with this down the road including any flag from the post author excluding someone from getting any rewards from that bounty. This solution seems like it would be useful as a 1% flag wouldn't effect the voting power of the author, doesn't effect the steemian that left the spammy comment so nobody has to look like a bully flagging a smaller member, and still lets the rewards go to people who actually contributed to the post with real comments.
If this gets implemented I will just flag all spammy looking comments the second they are left and call it a day.
Overall Opinion
It's as close to perfect as any tool out there for authors to use. In my opinion it's much better then paying for bid bots for "exposure" as you are rewarding those who actually engage with you and your post vs giving more profits to the whales (no offense, but the little guys need it more).
This is now the second post that @steem-bounty. The 3 SBD Bounty is there to help reward interaction and to make sure every contest entry get some SBD for taking part. Over time as rewards cover the costs of this contest the total prizes will continue to rise and that includes the Bounty.
Steem-Bounty is a great project in which @knircky and @famunger have put all their effort with the aim of creating a tool to encourage those who start in this world.
@thedarkhorse I think this publication is very correct in the analysis of the tool and I would like to translate it for the Steemit community in Spanish that needs so much information. Do you agree?
That would be great if you could translated it to Spanish. Anything to get @steem-bounty a little added exposure!
Steem bounty is a great invention and i hope the problem with the spammers will be solved. I don't know if its technical possible to program it that it doesn't react on self- and bot upvotes in the comments....that would help. But my understanding of those things is very little, so it might not be possible.
Flagging is a good weapon if you have the slider to go down to a 1% flag. But i'm sure the inventor of steem bounty will come up with a good solution :).
I did suggest removing the self vote from the calculations in a good talk with the creator of steem-bounty. This is when the flag idea was shared with me. Nice thing is they know the spammers are an issue and are looking at what would be best to deal with them.
I love bounty! :D
Thx for another informative post. Easy to read.
Please continue up with creating interesting content - it may be hard at the beginning to build reach and solid followers base.
Steemits needs solid content builders so just dont ever give up! :)
Already followed and upvoted :) Cheers,
Good idea to clarify this in the hopes of getting more 'conversations' going on your curation contest :) You're a smart cookie! :)
Conversations and make sure all entries make a little something for their efforts to help others.
Yes, that's a nice thought! I see abh12345 used a bounty in his Curation Leagues today!
I think he learned it in the "smart cookie class" offered at "steemit smart cookie class" offered by @ on a monthly basis
haha medication's making you loopy here, and this isn't even the one you were referring to in Discord haha
I forgot about this one ROFL oh well , when I did this one I thought I was in the other post :) This keeps up you will be #1
hahaha and you'll be #2 :)
works for me
Money is the best motivator to encourage people to act in a certain manner, so this is a great idea in my opinion. There will always be people wanting to exploit anything, so the people that want to add substance and value to something will just have to navigate these "potholes". Not much can be done to stop the bot comments and spammers. Just gotta go around 'em, flag 'em when we see 'em and hope for the best :)
Thx for the heads up! Will try it out!
I have earned a couple of bounties now. I think it's a cool way to increase engagement (more than just an upvote) on a post that matters to you - such as a new contest, as you said.
It adds an extra dimension to the rewards on posts which makes it fun.
Just recieved my first bounty today on a post I commented on. Was actually surpirsed to see the SBD transfer in the morning. Then I took a minute and went back to check on why the hell did I get it. Well lucky me, I commented on a post by @flipstar who was trying out the program for the first time :-)
This is exactly how I found the program. Didn't even realize it was on a post and commented as normal then got a little bonus later on. Was a nice surprise when it showed up.
Thanks for turning me on to it . It a great program . The pay off is down the road and a little investment will go a long way
I had no Idea about this program I will look into it more . I think it is a great long term idea and one that could benefit minnow . I would really like to know more about the bounty with it .
Steem-Bounty is definetaly a really great thing !