Airdrop and Bounty Scams
When the cryptocurrency buzz started, new coins were rare and the few that launched were very unlikely to be adopted. Since nobody wants to own a coin nobody else holds, airdrops and bounties become common give aways to obtain initial adoption in crypto.
Why Airdrops are Worthless
Airdrops in crypto currency are many scammers and pump and dump artists first place to shill a “new” alt-coin as being valuable. The coins themselves are almost always less valuable than the initial markets listing them show because so many Airdrop and Bounty campaigners are going to dump their free coins for bitcoin.
Faking the “network effect” to show adoption of a new coin will only result it people dumping it when exchanges add the token or alt-coin for buying and selling.
Bounty Program Scams
Much like Airdrops, bounty programs are now a favorite of ICO’s that want people spamming twitter and forums for free tokens or coins.
Now that companies can use an initial coin offer to entice people to give them some bitcoin or ethereum and gamble with their teams project, the bounty is a tell tale sign that a project needs help shilling the value of their project to everyone.
When companies pre-mine coins, pay their staff with tokens, plan to fund their project and offer bounties or airdrops to have people notice they are doing anything in crypto currency, it is highly questionable why anyone would see these things as valuable.
Avoid All Airdrops and Bountys
Unless you earn less than $1/hr, the amounts people can earn from these campaigns and free coin offers isn’t really worth the effort. The fact that these coins are primarily bribes for poor people to chase pennies when they dump them makes the entire process of these unnecessary.