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How does the bounty system work?

I remember something about being able to award bounties to any answer... has this feature been removed or is it just hidden in the interface so that I can't find it?

If it was removed, why? It seemed like a good thing.

See this answer with many bounties given https://meta.stackexchange.com/a/54888/139921

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    You need to add a bounty to a question before you can award it to an answer. Have you done that yet?
    – Brandon
    Commented Dec 13, 2011 at 21:34
  • Exactly my point -- for a while you could give a bounty for any answer even if you didn't create the question.
    – Hogan
    Commented Dec 13, 2011 at 22:32
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    @Hogan You aren't getting quite the point: anyone with sufficient rep can add a bounty to a question, yes. But you must add it before you can award it. Commented Dec 13, 2011 at 22:42
  • Also; the question must be of a certain age before a bounty can be added to it. Commented Dec 13, 2011 at 22:43
  • @AndrewBarber - AH! There is the rub, the question must be old before I can add rep to it.
    – Hogan
    Commented Dec 13, 2011 at 22:47

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Summary of answers (all put in comments):

  • You have to wait 3 days before any question can have bounty associated with an answer to this question.

  • First you add the bounty to the question, then you can award it to a specific answer.

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