Bounty Basics Part 1 - Prices & Periods

*This is the third post in a series of how-to guides introducing and explaining some of the foundational features and functions of beta.cent.co*

How much should you set your bounty for?

Good news: There is a wide range and over the last 8 months there doesn't appear to be a bounty amount that is too low. 

Although I originally assumed that a high bounty would be the only way to attract a high quality or high number of responses, I can say with absolute certainty that that simply isn't the case.

I think the main reason you can set a bounty for a trivial amount of money (e.g. USD 1.50) and still attract a sufficient amount of decent quality responses has to do with the social network aspect of Cent and the bonds that Centians are forming with one another.

So go ahead and Cent something and don't worry if your bounty is too low, because it isn't.


How long should I leave my bounty open for?

Short answer: Anything over 3~4 days is way too long. 

Unless you are asking for a review of something of significant length or detail (e.g. thesis review), a typical bounty will be able to accumulate between 30~100 responses within 3~4 days before it closes.

Probably because Cent pays out in Ethereum, but an attractive quality of of the site (from a responder's perspective) is the potential immediacy of payout.

If new users end up having to wait weeks for their first payout, do you think Cent is likely to attract a consistently large number of diverse responders? This is something to keep mind the next time you are setting a bounty for your cent.

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Next time I will bring up the most important issue currently facing Cent, how we can increase the number of people who actually set bounties to cent something.