As the CEO of Privatix, it is my most important priority to do all that I can to make sure that this project succeeds. After just one week of bounty campaign on Bitcointalk, due to a significant amount of cheating attempts, as well as fake accounts, alongside low quality promoting, the campaign for Bitcointalk is now cancelled.
I am asking everyone to cease their activity.
From the time this post is published — the bounty is no longer active.
The reasons
The number one goal of the bounty campaigns on Bitcointalk is to attract new members to the project community. We were looking for people who are passionate about the product and want to contribute, in some way or another.
Unfortunately, despite this approach working in the past and ending up with members helping our project, currently things are completely different.
Quite a few participants in the bounty campaign were solely after money and their contribution to the project is significantly small or close to zero.
Of course, I want to mention that this doesn’t apply to all bounty participants, but the number of those who actually contributed and were a real part of the project was lower than acceptable, so the filtering can’t be done.
Therefore, the bounty campaign on Bitcointalk is suspended.
Too many projects
In the past, we have seen just a few projects and a lot of bounty participants who were really passionate about what they were doing. However, now, the amount of projects is huge and the number of bounty participants is growing artificially. Specifically, we’re talking about mediocre people, whose only desire is to make a quick buck.
The result of this is the funds that came from founders’ pockets got spent in vain.
Cheating and low quality
After checking reports and the analysis that was done by our team, we found out that most of them were false and needed to be declined. The quality of the translations was also bad, while reports in social media came from bot accounts, without providing any results .
I really don’t understand why our company needs to pay ~$500,000–700,000 in future token value for this kind of activity.
5000 facebook friends and not even 1 like for the post?
Is that possible?
Maybe some companies don’t care about their token value or their contributors, but I do care and don’t agree to pay 10000 times more for a $50 job, no matter what.
Example of Telegram channel involvement — 1 , 2
What about the work that’s already done?
All bounty campaign participants who contributed before this post was published will receive a full reimbursement.
Many of the bounty participants are honest and trustworthy people, however, the majority does not possess such qualities, and this is not my fault.
In order to receive your compensation, everything you need to do is fill out a form and you will receive your full amount at the end of ICO, in direct payment, within a month.
The form which needs to be filled can be accessed here: link.
All the reports will be carefully checked and evaluated considering the average market price for this kind of activity, which will be multiplied by two. Therefore, there’s no reason to worry.
Trustful bounty participants will receive their full reimbursement.
What about the stake reserved to bounty
Currently, we have 3% of our tokens reserved for advisors (1%) and bounty (2%). The 2% reserved for bounty (for the campaign, to be more specific), will go to actual contributors, who actively participate in the project and help us move it forward.If you are one of them and can contribute , you are more than welcome to join, except those who do 10 retweets to 300 followers made by botsWe are looking for tech specialists, developers, legal advisors, writers, bloggers and community managers.
So, there is no bounty campaign anymore?
No. At the mean time, a bounty campaign is still available for reliable contributors, but not in the format of the Bitcointalk forum. If you are interested and really want to be a part of this project and contribute significantly, please contact me.