The size of the payout makes the risk worth your time, although this raises some questions.
Also you'll find that all bounties regardless of their size already have groundwork being laid out, read through them.
Also, in the end, the process is centralized. The final decision is just a judgement call by bytemaster with no real measurable metrics (as most submissions meet the basic requirements). Obviously, it's his company and he has the ultimate decision, but, why not create a new process that facilitates that decision to the point that by the end of the process its obvious to everyone what the final product will be.
Did you really read through the document? if so you'd note the insistence on publicity, this is to ensure open development processes kind of like conversation you have joined, showing that the system works. If it was not open, all you would have seen was a set of rules whose creation you could not trace, contest or help to form.
Instead of asking developers to create completed content, why not create a transparent RFP (request for proposal) process and get the input of the community to decide on the the path we should take (what developer/informal group of developers/company should be chosen to complete the task).
This is called a Tender and the only difference between the current system is name. Asking the community to decide who to choose to complte the task defeats the purpose, we are looking for someone who can complete the task. How do we decide without seeing their version of it? Keep in mind please that III is not the only entity that can post a bounty.
Submitter's will include relevant samples of previous work, resume/references, a rough mock up of their design (if applicable), cost to complete the work, and some type of cover letter.
lol, this is the crypto industry where we like our privacy. There are only two people on this forum that know who i really am, one of them being bytemaster, i'd like to keep it that way thanks. Trying to force disclosure like that will fall flat on it's face.
This should:
Eliminate the need to set an arbitrary price (the market will decide)
Open the process to top talent
Give whoever is chosen the compensation they need to stay focused on the task at hand
Allow for community input throughout the entire process
Lol, the thing that makes bounties get completed quickly is that number you want to remove. And trust me, i know a few of the guys here from other forums, you'd need college proffesors to beat some of them.
As a bounty hunter all i need to know is how much i am getting paid to produce a good quality product that will meet the posters requirement and when i should be done. If i have queries, i always ask, and along the way i open up my development process to the community for input kind of like what we are doing now.
The RFP should define the project due date and incremental goals (each goal paired with a percentage of the total project cost) that must be shared with the community on a weekly basis for a comment and suggestion period (no longer than 24-48 hrs). At the result of that period, the developer will make any necessary changes and submit that portion for final Approval. Barring any major objections (or a veto by bytemaster), that portion is Approved, the developer is paid the portion of project cost associated with that goal and then moves on to the next task. The development should be as open source as possible (easy with coding/writing, harder with graphic design) to allow for comments along the way to limit surprises during the more formal comment/suggestion period.
As a person who is in full support of DACs and their uniqueness, also as a bounty hunter i reject the idea of "comment and suggestion periods" set in time, I want my customer to have full access to my work and be free to comment at anytime, i even tend to give them editing rights on my works which i post publicly. And piece-meal payments as good as that sounds would complicate the process, which we are hoping to be simple and straight forward.
Worst case, if the selected developer isn't producing, it will be obvious from the start and the RFP process can be re-opened to more proposals with a minimum loss of capital. Best case, the developer produces great consistent content and the community is aware of the status of each project at all times. Because the developer is being paid in PTS, it is in their best interest to stay on task and on time while producing quality work.
Again please read through the document and some of the Bounties and check their processes, the very mechanism of bounties does all that without need for supervision.
The biggest group of stakeholders are holders of protoshares and angelshares and with this process Invictus can empower those stakeholders to help make the decisions that will affect their wealth and ROI as an investor.
Software, graphics and other bounties emanate from ideas and suggestions that are already floating about in the community, some of the more III ones come from things they need to meet certain objectives. You'll find that quite a few of the ones on this subforum were requested by the community. Perhaps we can move this conversation to the bounty discussion thread.. as you are also suggesting we scrap bounties.
As the person who is wrote this document and a bounty hunter, i have tried my best to stick to the rules i've written as a means of encouraging their adoption and thus far they seem to be working. Should there be need to chnage the system then that is another thing altogether but this document is about the rules and procedures of the bounty syatem, not the development of a new system. The reasons the bounty system is used not only by the crypto industry but by most huge tech and security firms are numerous, apart from creativity and speed they create a hiring pool for easier pickings later, which is worth more than you can imagine.
A lot of the people asking to change the system are not bounty hunters themselves, most are not even developers. Using the mind and working on these projects is time consuming and requires a certain temperament, otherwise nothing gets done. Before you start judging how much their paid, walk in their shoes a bit.