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What happens if someone doesn't mark an answer as answered or choose the best answer?

Moderator goes through and does his best to ascertain whether or not the question was answered and who answered it best/first.

If no suitable answer is available coins are refunded. Otherwise an appropriate answer is chosen after 5 days from question post.

That's a short timeline and a perverse incentive. One of the clever parts of SO bounties is that they're taken from you whether you award them or not, so the incentive is to be a nice person and do so. Here the incentive is to never award and hope you get it back.

I understand you don't want people potentially throwing away money - its a problem where you need a high volume of answerers for the no-refund model to work. Just something to think about.

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