I was changing the difficulty for Diablo 3 when I saw these details:
What are bounties and blood shards for? I must have missed some kind of update that tells me what this is all about.
Diablo – What are bounties and blood shards
diablo-3
Related Solutions
Snared: Your character is slowed down. The magnitude of the slow effect varies depending on what's doing the snaring.
Rooted: Unable to move from your current position.
Attack Slowed: You swing your weapons more slowly.
Chilled: Snared + Attack Slowed
Frozen: Mostly the same as stunned, but certain skills, like the Wizard's Frost Nova's Shatter Rune, cause frozen enemies to behave differently. Frozen enemies leave no corpse.
Immune: Immune to whatever status effect you're trying to apply. This can be knockback, stun, snared, or any other status effect, depending on the individual in question. Bottom line - one or more of your status effects isn't "sticking", so to speak. Unlike Diablo II, no monster in Diablo III is supposed to be immune to a damage type (though they might have high resistances).
Knockback: Physically moves the target away from the origin of the attack.
Stunned: Rooted, and unable to attack.
Charmed: Fight other monsters instead of the player
Feared: Running in fear, unable to take action or control direction of movement.
As everybody said, it's just pure visual effect.
Just purchased a cheap one from AH and tested it a bit. You don't bleed, you lose no health, you don't hold the dagger by the blade. All what Blood oozes from you does is purely visual effect that also leaves some (very)tiny blood spots on the ground for a short period of time.
Here are a few screenshots:
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Best Answer
If you have RotS expansion you can play in adventure mode. When you start the game with these options you will be given 25 random bounties scattered around all 5 towns(5 for each).
These bounties will be simple randomly generated tasks like killing a certain boss or champion monster,clearing whole area from monsters,certain dungeon dungeon or event... Which is a fun way to break the monotony of standard quests you got fed up with.
Upon completing a bounty you will be rewarded with gold,experience,horadric cache(drops random loot when used) and blood shards.For completing all 5 bounties in single act,you will get greater horadric cache and chance of Rift Keystone.
Blood Shards are used for gambling(buying unidentified items) from Kadala. And to buy greater horadric caches from Lorath Nahr(not sure if they changed this).