I was wondering. I've received the privilege to set bounties. But since I'm still very low on reputation. If someone puts an answer that receives the bounty, will I also go back to that status privilege-wise, or will I keep those?
For most situations, you can probably safely ignore the "bounty" feature. It is a bit of a niche feature, and gaining the "privilege" to set a bounty does not mean that it will necessarily be all that useful to you to do so, in your everyday use of the site.