Do Bounties Really Work?


#1

The US Government believes in bounties. They’ve released a program to identify pump-and-dump schemes, and reward the whistleblower:


#2

I think as bounties become more widely adopted, we will see bounty farms emerge. This is a positive thing as thousands of people will be holding news and other trust-based entities accountable.


#3

if it works it will incentivize truth… not bad… we’ll see


#4

good! this has to get cleaned up or cryptos will stay on the fringe


#5

Increasingly the gov. is stepping in with small moves like this to slowly wrangle the crypto world into reasonable regulation. I think this is fantastic, and I like the fact that they are doing it slowly and deliberately to avoid messing up something that is great for the economy. They seem to realize, correctly, that as long as goods and services are moving, that’s a good thing. Doesn’t matter if its with dollars, sea shells, or Bitcoin… economic activity is economic activity.


#6

yeah but what KIND of goods and services? or do they actually not care as long at the economy benefits??


#7

It’s a double-edged sword. On one hand, I think every government in the world has economists telling them that cryptocurrencies create economic activity that spills over into the fiat world, so that is of course a good thing. I don’t think the shady uses of crypto bother governments all that much because those activities existed long before bitcoin came along. It’s more that 1) They want to get their taxes, and 2) They don’t want ordinary citizens to be cheated by scam ICO’s. But it is really hard to argue that cryptocurrencies are not good for an economy because they just are.


#8

That’a a good way to put it. There will be more money in the truth, so the market will drive the truth.