Topic: Bounty needs KYC to receive reward? - page 2. (Read 2345 times)
actually, its depend on every member. they want to send their information or just participate when in ico with no kyc. thats not break the rule, and i think kyc just for safety for them (try to positive thinking) there are many ico's reward without kyc, so every member can choice what the best for them. some people said that crypto is anonim, and its ok.
There are a lot of projects that are now asking for KYC, i myself don't like it as it is against the basic idea of cryptocurrency and that is anonymity but with more and more projects asking for it, i guess we move to it. But i still prefer projects with no KYC.
You have to understand that anonymity was talked about a lot because in order to attract as many users as possible to the cryptocurrency market.
There are a lot of projects that are now asking for KYC, i myself don't like it as it is against the basic idea of cryptocurrency and that is anonymity but with more and more projects asking for it, i guess we move to it. But i still prefer projects with no KYC.
Bounties requesting to fulfill KYC with the participants is a way of outsourcing them as legit. In reality there were more such projects that has gone as a scam. One in five projects have now begun to request KYC. The true feature of being anonymous using cryptocurrencies have been getting similar to that of the fiat.
If I really like the project, I’m ready to go through KYC, but I wouldn’t have ever done it myself, because I really love anonymity. I believe that the Internet was invented partly for this reason, so that you can work and not show your passport at every corner.
Most of the project now are requiring the KYC process those who join bounty and token sales but I ask if it safe to give your information to them, as I can see bounty manager also checking some identification and he/she will using in it evil purposes.
This is no, no for me because doing kyc will be the collection of people 's personal data. I don't agree with the implementation of kyc for bounbounty hunters because it will reveal their true identities which might fall in the wrong hands.
One again about bounty with KYC. I think that so far, many bounties use the KYC to get the rewards. Some have told us in the beginning that they will need the KYC for the bounty participants. It is fair I think. but, some are not fair by telling KYC pass after the end of the campaigns. So, I think that the BM and the team must consider our work, moreover about KYC, never do it in the end of the campaign, just in the beginning or at the middle at least.
In my opinion KYC will not be effective, even when ICO applies KYC, investors will be reluctant to invest, I hope there is no KYC in bounties and ICO so it is more free to invest.
Also when an ICO require KYC, it will make that ICO add more risk, because if the project exit to scam investors not only lose their money, but also their identity that will be misused later for various crimes.
Kyc is for the bounty management to know the investors that are dealing with them and to be sure if they are not from countries where Cryptocurrency is restricted. Most bounties use kyc while some don't
Not all bounties requre KYC for the bounty participants in order to receive their bounty rewards. Some thinks that KYC is jist a waste of time but some people do look at it as an added security in order to promote protection against multiple account users which is its advantage. We do all have different perspectives.
Unfortunately, more and more Bounty campaigns requires Bounty hunters to go through KYC procedure to get the rewards. In my opinion, it is unnecessary, KYC should only be used for investors.
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I have no desire to go through the KYC identification. But if it is required to receive an award, I submit my documents and I write with watermarks on each of them that these are documents necessary for such a project.
I consider it fair to do kyc for bounties only when the projects themselves will be registered in sec.
For bounty hunters, KYC is completely unnecessary. It is used to identify investors who put money in the ICO, which is to avoid abuse. Bounty hunters receive tokens for their work so they do not invest their money directly in ICO.
SOME REASONS TO DO DO KYC FOR BOUNTY REWARDS:
- To control spam
- To avoid users who uses multiple accounts
- To avoid cheaters
- To avoid abusers
- To control spam
- To avoid users who uses multiple accounts
- To avoid cheaters
- To avoid abusers
This is not true, only reason why institution like exchanges, banks, gambling sites and bookies has to enforce KYC is to stop money launder and financing terrorism.
KYC for spam control, users with multiple accounts and similar is not the reason. There are also legal requirement when someone has to enforce KYC and when someone doesn't need to enforce KYC, which also depend on jurisdiction where ICO is launched. I can hardly believe someone need anyone's KYC for 50$ neither I believe law is forcing them to collect information and copies of documents for so low amount and without investment.
I say fuck bounties with KYC requirement.
I have spoken about this many times, because I do not understand that the KYC process may have something in common with bounty hunters, with people who believed and supported a project that does not yet exist. Therefore, I do not understand this.
In my opinion KYC will not be effective, even when ICO applies KYC, investors will be reluctant to invest, I hope there is no KYC in bounties and ICO so it is more free to invest.
KYC for bounty participants is to not give tokens to those citizens in a restricted country.
If the ICO requires the investors to do the KYC.
They have the rights to do it also with the bounty hunters.
If the ICO requires the investors to do the KYC.
They have the rights to do it also with the bounty hunters.
I agree with you. Providing your personal information is always dangerous. But it often happens when the requirements to pass the KYC are announced at the end of the company. If you are confused by something in this project, it is better not to send them your documents. But if you know that the project is good, you can not be afraid.
The kyc of a thing in bounty do give me concern too, since we are not putting money to buy the token cause kyc only require to know your customer worth and if the person is really worth to buy the worth in actually put in , so the reason is majory to prevent the money laundering and scammer but if kyc is to prevent scammer in cheating by bounty then that is not enough evidence to ask for kyc as the bounty manager can do all needed to stop cheater if really want.
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