Okay so I was told it would be 1 week or so and it has been 2 weeks and nothing has shown up yet.
In this space of time ive been:
decaped
lost
won
dismembered
ranked up

And still nothing

Yes, looking at the bounty list you can see that no bounties have been claimed. This means that there is a problem with the bounty system and it probably will be fixed soon.