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How does the bounty system work?

I started a bounty on this question but I could not set it to 50 rep - only to 100.

I understand from the FAQ that it is possible to start a bounty for 50 rep (I'm cheap - what can I say?)

My questions are

  1. Why wasn't I able to choose 50 rep for the bounty? (I could only choose 100 or more)

  2. Is there a way to correct the bounty to 50 now that it is already "in the open"?

EDIT:
The question I put a bounty for is only two days old and apparently this is the first bounty offered for it (to the best of my limited knowledge).

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  • Why were you not able to start a bounty of 50 rep? Did you get any error message whey trying to start a bounty of 50 rep? Or you did not get an option for 50 rep?
    – Himanshu
    Jan 25, 2013 at 10:14
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    There was a bounty on there previously; new bounties must be at least double the previous bounty. Jan 25, 2013 at 10:14
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    @hims056 - I did not get any error, I simply did not have the choice to 50 at the drop box - it started from 50 and went up.
    – Shai
    Jan 25, 2013 at 10:15
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    @MartijnPieters - I was not aware of any bounty on this question before. It is fairly new (only 2 days old) with very little views. Is there any way of knowing "bounty history" for a question?
    – Shai
    Jan 25, 2013 at 10:16
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    And related: "Abusing" bounties for unlimited profit Jan 25, 2013 at 10:18
  • @Shai: I can't see whom set the previous bounty on that question because you set a bounty on it now. Normally I look at the question history. The fact that you had to set a 100 point minimum is the only evidence I have right now there was a previous bounty. Jan 25, 2013 at 10:20
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    @MartijnPieters - it is highly unlikely that a bounty existed there. since this question is only two days old and it is eligible for a bounty for the first time today! So, despite the nice answer you referred me to - I do not believe this is the case here.
    – Shai
    Jan 25, 2013 at 10:22
  • @Shai: I must confess that I am now puzzled, but there is no other way the system would raise the minimum bounty amount. Jan 25, 2013 at 10:24
  • @MartijnPieters - should I add bug?
    – Shai
    Jan 25, 2013 at 10:27
  • @Shai: Let's see if any moderators respond; they have more information at their disposal. I'm but a regular user, I also may be wrong about my conclusions. Jan 25, 2013 at 10:28
  • @MartijnPieters - at any rate, thank you very much for your comments, they are very helpful.
    – Shai
    Jan 25, 2013 at 10:32
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    you posted an answer there, before starting bounty: "Note: If you are offering a bounty on a question that you have already posted an answer to, your minimum spend is 100 reputation (not 50)." - quoted from How does the bounty system work?
    – gnat
    Jan 25, 2013 at 11:28
  • @Shai - Don't answer in the question. Let Gnat answer the question. :)
    – Himanshu
    Jan 25, 2013 at 11:38
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    @Shai single bounty is too little to gain knowledge about all the perversions about this system. :) As an example, it took me 20 or something before I learned not to become frustrated with every new twist of the rules I discover
    – gnat
    Jan 25, 2013 at 11:41
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    @gnat - You are the master of the bounty system on Meta! :) You maintain your reputation to 3000. :)
    – Himanshu
    Jan 25, 2013 at 11:43

1 Answer 1

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You posted an answer there, before starting bounty:

Note: If you are offering a bounty on a question that you have already posted an answer to, your minimum spend is 100 reputation (not 50).

Above is quoted from How does the bounty system work?

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