KYC as a Scam - page 12. | Bitcointalksearch.org

z21770179

sr. member

Activity: 474

Merit: 250

Quote from: bitcoinst on November 12, 2018, 09:58:02 AM

Quote from: rippar on November 12, 2018, 09:46:12 AM

I also have some bad experience with a KYC verification: it was an ICO project with a KYC, but it had occurred a scam and my personal info was stolen.

This is probably the worst experience you can learn by going through this procedure. I myself have often come across this when I was inexperienced and took part in everything. Never come the procedure of KYC if you are not sure about the project.

I do not understand how many people have trouble KYC to invest, I have done it several times. And just following what they annotated will be able to complete KYC quickly

hirngespenst

full member

Activity: 812

Merit: 114

Yes, at least they could mention that KYC may be needed for the bounty! Without a previous alert, after finishing the bounty they announce KYC needed for hunters! This is just an unprofessional procedure! Though I am not sure is it scam or normal.

Genjik

jr. member

Activity: 120

Merit: 1

Quote from: monkeyking03 on November 11, 2018, 01:49:00 AM

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

I think that there are now many bounties that need cyc before the coins are distributed, but I also doubt, can the ico maintain the confidentiality of our cards? , I think this needs to be questioned

QueenW

hero member

Activity: 952

Merit: 500

I believe that this is wrong and the procedure for checking should be carried out only by investors, since they buy coins. If kyc is planned for bounty hunters, then this should be discussed at the very beginning of the campaign, so that people can choose to participate in the campaign or not.

Dreaman_Fly98

newbie

Activity: 51

Merit: 0

I've seen this as well.. Not much you can do though

atayating

member

Activity: 280

Merit: 10

Fast, Smart, Trustworthy

The main purpose of KYC is to prevent fraudulent hunter participation, but the authenticity of the project does not give us any guarantee, which is very unfair, isn't it?

modmalaney

sr. member

Activity: 700

Merit: 251

It is indeed less fair since the announcement of the KYC done spur of the moment ahead of the distribution. of course inevitably if you want to receive the payment must meet the demand of the KYC and this risk also behind them. KYC could be abused for another thing for people who are not responsible and of course, this will be very detrimental.

SistaFista

sr. member

Activity: 1638

Merit: 251

Hexhash.xyz

Quote from: monkeyking03 on November 11, 2018, 01:49:00 AM

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

Usually they will give answer like, the regulation in the country requires KYC for token holders, so you need to submit your KYC.
But yes, they should give the information from the beginning of the campaign, so the hunters who want to remain anonymous will not lose their stake.

kawetsriyanto

legendary

Activity: 2422

Merit: 1140

duelbits.com

I agree if a project needs a KYC, the team should announce it from the beginning. It will be fair and transparent to the bounty hunters. In my view, a sudden change for a KYC need in distribution process indicates a poor planning from a project team. It mustn't happen because it is very possible to be anticipated from the beginning.

a4techer

sr. member

Activity: 552

Merit: 250

Quote from: cahkalem on November 12, 2018, 05:34:06 PM

Quote from: GmBoom on November 12, 2018, 09:32:20 AM

Kyc is good and sometimes it is needed on a project. But it is different that when a bounty campaign requires after the campaign to submit KYC. It should be posted on the first place before the bounty starts. And if that really happens, then nothings can be done. Next time be more attentive on it, ask KYC if it is required in the first place before joining the bounty campaign.

hi,, i don't agree with you,,,
here my questions
how if the project become failed or scam ?
and the project already took KYC from their investors and supporters

Yes me too I don't also agree because not all project that requiring KYC was legit but some of them was scam and they also want to get your information for their personal intention to use in other project. And not all project that don't have KYC was scam because I joined in one project that don't have KYC but un now it is profitable so that KYC is not basis if it is scam or not.

cahkalem

full member

Activity: 562

Merit: 101

Quote from: GmBoom on November 12, 2018, 09:32:20 AM

Kyc is good and sometimes it is needed on a project. But it is different that when a bounty campaign requires after the campaign to submit KYC. It should be posted on the first place before the bounty starts. And if that really happens, then nothings can be done. Next time be more attentive on it, ask KYC if it is required in the first place before joining the bounty campaign.

hi,, i don't agree with you,,,
here my questions
how if the project become failed or scam ?
and the project already took KYC from their investors and supporters

maldini

sr. member

Activity: 952

Merit: 308

yes I agree with you, it sounds more like a fraud committed by the ICO project. Previously at the beginning they had determined the rules, where they had to explain the procedure for following their bounty project, they should have announced it in advance if they had to do KYC when distribution, if it was not announced and arrived the last week they announced it meant they were cheating on the bounty hunter

ghonkz

full member

Activity: 459

Merit: 117

so many scam project took KYC , and this is dangerous
and i have idea changed KYC to Selfie photos with text paper for KYC

BitcoinCazh

full member

Activity: 532

Merit: 100

i think its normal, they are is manager bounty, every rules you must to accept, if not you will lost you tokens, for invest i think now almost all ico need kyc to verification but not all in bounty

Ailmand

hero member

Activity: 1274

Merit: 519

Coindragon.com 30% Cash Back

Quote from: monkeyking03 on November 11, 2018, 01:49:00 AM

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

I really think that ICO that wants to have their bounty should announce this as early as possible. This will give them no harm if they really intend to have KYC for their bounty before they intend to start one. Not all bounty hunters are able to have their KYC since some are minor, or have no files to pass the KYC that is why some avoid it.

bitcoinst

hero member

Activity: 1708

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SmartFi - EARN, LEND & TRADE

Quote from: rippar on November 12, 2018, 09:46:12 AM

I also have some bad experience with a KYC verification: it was an ICO project with a KYC, but it had occurred a scam and my personal info was stolen.

This is probably the worst experience you can learn by going through this procedure. I myself have often come across this when I was inexperienced and took part in everything. Never come the procedure of KYC if you are not sure about the project.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: monkeyking03 on November 11, 2018, 01:49:00 AM

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

Just a tactic to save some of their tokens on its own so if you are serious about bounty hunting then you should be ready to do KYC as well or just stop doing bounties and join only on the bitcoin payment signature campaigns where you no need to worry about the project getting succeed or not you will be paid weekly.

rippar

full member

Activity: 602

Merit: 105

I also have some bad experience with a KYC verification: it was an ICO project with a KYC, but it had occurred a scam and my personal info was stolen.

kipozer

member

Activity: 490

Merit: 11

I have always been very negative about KYC because I understand why KYC is taking place and why it is needed for investors, I think that many investors will soon begin to understand that for the full picture, we need to see the documents of the developers. It will be honest.

GmBoom

jr. member

Activity: 322

Merit: 2

Kyc is good and sometimes it is needed on a project. But it is different that when a bounty campaign requires after the campaign to submit KYC. It should be posted on the first place before the bounty starts. And if that really happens, then nothings can be done. Next time be more attentive on it, ask KYC if it is required in the first place before joining the bounty campaign.

Topic: KYC as a Scam - page 12. (Read 22333 times)