Do I need KYC for generosity? - page 5.

levvv

member

Activity: 532

Merit: 17

Quote from: Vektrum on November 26, 2018, 01:44:19 AM

Recently, more and more arguments have arisen that ICO generosity campaign participants really need to be tested by KYC in order for ICO teams to provide information that their tokens are distributed to specific people. In my opinion, this generally sounds like something stupid. Who and why should the ICO team provide such data? Tokens are not much different from any other product, and stating that merchants need to know who they are selling is stupid.
You welcome the situation when we go into the store and in order to purchase any product and we will be asked to first fill out a special form with your confidential data? Do you think that this is different from the situation with cryptocurrency?

I don't think there will be require KYC for utility token. But if the ICO company want distribute the security token, all of the holders will have to submit their KYC due the regulations of the company's country. If you are a hunter, you must do your research before choose a project to participate.
Otherwise, you will only giving your KYC to the scammers for free because the project is fake.

alimarh

member

Activity: 238

Merit: 10

I think all these things is to frustrate the activities of cryptos but in the end, cryptos will win these whole trials, I don't see any reason why KYC should be needed, cryptos is meant to be open the ledger to the public and keep the individuals privates

ricatop

jr. member

Activity: 182

Merit: 1

Yes, of course, because we can thus reduce the number of scammers who participate in bounty programs.

Gab20

jr. member

Activity: 714

Merit: 3

I have also noticed the trend, but we cannot be forced i to any kyc. Which is why before you join any, you must be sure if it will be needed by asking the manager.
Do do not be generous with your personal details. Hence, guide it gelously. Gelous

Snaic

full member

Activity: 658

Merit: 102

Quote from: vi77ip on November 26, 2018, 02:48:22 PM

Quote from: Ozero on November 26, 2018, 02:22:11 PM

The KYC check for participants in the ICO generosity campaign is a very convenient reason not to pay bounty tokens to bounty hunters. Such a test does not require any state for bounty hunters; restrictions on participation in the ICO campaign of citizens of the United States and China are imposed only on those who invest their money in ICO projects. There are no restrictions for those promoting these projects.
The ICO teams abuse this right, applying it for selfish purposes against bounty hunters.

I think you're absolutely right. KYC for bounty hunters is a sign of dishonesty of the project.

I agree. The KYC check is now used by ICO teams to a large extent in order not to pay bounty hunters earned tokens. Especially if such a KYC check is applied after the end of the ICO. Logically, there is already no other meaning in such a check, except to deceive the bounty hunters.

GunsLair

jr. member

Activity: 644

Merit: 1

It may be wrong that projects carry out KYC verification for bounty participants. But they too can be understood, they want to protect themselves, both from multi-accounts, and from legal problems. I don't refuse to verification if I like the project and I believe in it.

maxilopez

jr. member

Activity: 210

Merit: 1

I, just like you, the author, I do not think that it is right that we should go through this stage of verification as it is illegal

Spaffin

full member

Activity: 1316

Merit: 108

Quote from: Bttzed03 on November 26, 2018, 02:41:57 PM

While I do not personally agree on bounty or airdrop hunters being required to pass KYC, I also understand the reason for doing so. We all know that there are some who will always try to abuse these campaigns just to get more bounty rewards.

In order to resolve an issue with multiple accounts, it is not necessary to violate our privacy rights. To do this, simply check the accounts by IP-address. The KYC verification does not solve this problem all the same, since you can use the data of your relatives and friends with their consent and some help.
In fact, KYC checks against bounty hunters are now being conducted to a greater extent so as not to pay the tokens we earn.

DonnieMitchel

jr. member

Activity: 194

Merit: 2

IMO, KYC is a must for any ICO and exchange.
In fact, that is the whole point of KYC.

KYC for generosity campaign on the other hand, is pretty much useless and worthless.
Especially with the tiny amount of free token that they give, it is too much of a hassle.

Olatunjex

full member

Activity: 1064

Merit: 102

I am sure you aren't happy with the new system and many bounty hunters aren't happy either with it, i discover majority of project demands for kyc these days, as it stands, in as much you want to earn from bounty, you're left with no choice but to adhere to it.

Ging

sr. member

Activity: 504

Merit: 251

me too i was wondering about this uprising issue and i really dont know why this KYC is introduced to the policy of this newly uprising icos they should really think about that because so many participants appose this policy.

jaywizzy

jr. member

Activity: 510

Merit: 2

Yes, this is to eliminate the chance of same participant receiving more reward than others by multiple entry. But I think that the best is that the kyc should be done at the beginning of the project.

vi77ip

jr. member

Activity: 336

Merit: 2

Quote from: Ozero on November 26, 2018, 02:22:11 PM

The KYC check for participants in the ICO generosity campaign is a very convenient reason not to pay bounty tokens to bounty hunters. Such a test does not require any state for bounty hunters; restrictions on participation in the ICO campaign of citizens of the United States and China are imposed only on those who invest their money in ICO projects. There are no restrictions for those promoting these projects.
The ICO teams abuse this right, applying it for selfish purposes against bounty hunters.

I think you're absolutely right. KYC for bounty hunters is a sign of dishonesty of the project.

Bttzed03

legendary

Activity: 2114

Merit: 1147

https://bitcoincleanup.com/

While I do not personally agree on bounty or airdrop hunters being required to pass KYC, I also understand the reason for doing so. We all know that there are some who will always try to abuse these campaigns just to get more bounty rewards.

Andrey13101991

full member

Activity: 551

Merit: 100

I generally treat the KYC procedure very negatively. cryptocurrency is originally designed to be anonymous, and here we are must to send all our data. Even the residential address is now needed in order to receive your tokens. it is completely wrong

Ozero

full member

Activity: 2044

Merit: 180

Chainjoes.com

The KYC check for participants in the ICO generosity campaign is a very convenient reason not to pay bounty tokens to bounty hunters. Such a test does not require any state for bounty hunters; restrictions on participation in the ICO campaign of citizens of the United States and China are imposed only on those who invest their money in ICO projects. There are no restrictions for those promoting these projects.
The ICO teams abuse this right, applying it for selfish purposes against bounty hunters.

Predator25

full member

Activity: 354

Merit: 100

Quote from: Vektrum on November 26, 2018, 01:44:19 AM

Recently, more and more arguments have arisen that ICO generosity campaign participants really need to be tested by KYC in order for ICO teams to provide information that their tokens are distributed to specific people. In my opinion, this generally sounds like something stupid. Who and why should the ICO team provide such data? Tokens are not much different from any other product, and stating that merchants need to know who they are selling is stupid.
You welcome the situation when we go into the store and in order to purchase any product and we will be asked to first fill out a special form with your confidential data? Do you think that this is different from the situation with cryptocurrency?

It depends actually on the ICO youve joined in or youre invested in. It is good to have kyc for the ICO or managers to know who are really their customers or participants if theyre not bot or anyelse. Just so to know what are their intention. To earn greedily or to earn but honest. Its a matter of equality also.

Rustamm

member

Activity: 532

Merit: 18

Bitcoin lover!

Quote from: Ramtapsbtc on November 26, 2018, 07:45:50 AM

To participate in an ICO, maybe KYC will be needed as some countries don't allow their people to engage in such trade but for bounty participants it is sad to note that team are doing this maybe because they want to catch cheaters and not to know where their token will go to.

KYC verification is aimed at not restricting the use of multiple accounts in ICO signature campaigns. For ICO teams, it doesn’t matter how many accounts you use, just to write high-quality messages with their advertising for the ICO project. The requirement to have one account is more the rules of this forum, which in their conditions are forced to duplicate the joining of the ICO team.
The KYC check is used to prevent the possibility of laundering dirty money and cannot be used against bounty hunters.
Therefore, if a KYC check is carried out at the end of the ICO, then it is only with a fraudulent purpose not to pay the earned tokens to the bounty hunters.

alian17

full member

Activity: 448

Merit: 100

ICO collects KYC's data information for submission in future supervision. They want to be exempt from regulation. Make ICO look legal. But I don't think it's necessary at all.

pidie

member

Activity: 639

Merit: 18

in my opinion, KYC is good for people who want to buy an ICO coin. because with the presence of KYC the ICO team can see someone's identity that is clear with their origin. thus the ICO team can monitor customer transaction activities.

Topic: Do I need KYC for generosity? - page 5. (Read 802 times)