I'd like to suggest the following, a member can simply un-do putting a question for a bounty within 10-15 minutes?
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No. It is simply a bad idea. It can be used to grab people's attention, then re-claim while people rush over to answer the question. Even if no one answers it at first, the question will get extra free attention this way.
Are you asking the ability to re-get a bounty back after 10-15 minutes you set it? I'm not sure it's a good idea. I agree with the other users because: