Chat with BM-Parodium of BountyCloud
Parodium has been one of my go to Bounty Managers and Marketing resources since I first learned about BitcoinTalk. He’s not only the co-founder of BountyCloud, but a prolific writer and altcoin investor. One of the most professional, prompt, and reliable managers in the business, I got a chance to pick his brain on what he thinks about bounty campaigns, ICOs, and the current bear market.
Ok, so how did you first hear about BitcoinTalk?
I first heard about Bitcointalk whilst attending a three-day event course in London. Whilst discussing the potential for blockchain technology to integrate into practically every industry, the forum was name-dropped, following which I looked into it in an attempt to learn more about the industry.
What were you doing before getting involved with cryptocurrency and bounty campaigns?
I’ve always been interested in new technologies and how they can impact our lives. This lead me to pursue an education in Biomedical Science, and most recently, Regenerative Medicine. Just prior to my entrance into the crypto space, I was in the progress of completing an MSc and in the early stages of launching my own e-commerce business.
What was your proudest moment as a Bounty manager?
My proudest moment was locking in my first large client, despite being massively less experienced than some of the other bounty managers at the time. At this point, I began to realise that competition in the industry was weak, and that most of the then active bounty managers were only successful due to being the first movers, rather than the more effective.
There are alot of clueless founders out there. How can ICO’s run better bounty campaigns?
Personally, I believe that quality should always supercede quantity. Unfortunately, with bounty campaigns you usually don’t get both, unless your bounty allocation is one of the highest among the currently active bounties. Because of this, I would recommend that projects limit their bounties to only the highest quality applicants, and vigorously deny those that do not produce beneficial advertising. I honestly believe that the top 10% of bounty hunters generate more advertising than the remaining 90%, hence it is best to incentivize their participation first and foremost.
You have a unique perspective being in the thick of things.What elements do you look for in a successful project?
In my experience, the advertising budget and well-connectedness of the project matters most of all. Projects without a significant advertising budget almost invariably fail, whilst those with a significant budget targeting the correct advertising routes stand a better chance of success. This, in combination with a strong set of industry contacts, including advisors, influencers and development team is a great indicator for success. As a rule of thumb, if you find yourself trying to pay for the majority of your efforts with your own tokens, you’re likely to fail, as this is a strong indicator of an inadequate budget.
What do you think ICOs and blockchain projects could do better in general?
Honestly, there are too many ICOs. Everybody is looking to catch the hype train and add a tokenized element to their product in order to justifiably launch an ICO. I think that if tokenization doesn’t genuinely help your product, then do not launch an ICO. Investors are beginning to wise up to the tactics employed by shady projects, and in this bear market, the trap door beneath your feet is ready to swing open. That being said, for projects still looking to push forwards with a token, at the very least you should make it very clear what its utility is and how investors benefit from investing early, far too few projects are transparent about this.
How important do you think BitcoinTalk is to the crypto world?
I think Bitcointalk is one of the most important platforms for the discussion of cryptocurrency, and certainly for the discussion of ICOs. However, over time it has decreased in quality as the amount of spam piles up, meanwhile, other platforms such as Telegram and Reddit are beginning to take over as people begin to look elsewhere for civilised discussion. I believe having a presence on Bitcointalk is a good start, but should certainly be combined with a presence elsewhere as Bitcointalk is unfortunately beginning to lose its status.
Which altcoin are you most bullish on in 2019?
I would have to say Veil, a privacy coin launching at the end of this year. The project has an all-star team behind it, a strong marketing strategy and perhaps most importantly, fills a gaping void in the cryptocurrency space.
What do you think about today’s market?
The market is in a terrible way, there hasn’t been a bear period like this for several years, and market sentiment appears to only be getting worse. Until there is reason for growth, I do not believe we will see the end of this downtrend. Until the majority of the weak hands have exited their positions, I expect that we will continue to see the market capitalization of most cryptocurrencies fall, though this shouldn’t take much longer now.
Would you consider leaving cryptocurrency as a job in today’s market?
Definitely not. The cryptocurrency industry is far from dead, let’s not forget that Bitcoin has been through several periods like this in the past and recovered, it is likely just a matter of time. I support what Bitcoin and blockchain technology in general can do for the world, so will continue to work on it even if things don’t go the way I had hoped.
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