KYC as a Scam - page 4. | Bitcointalksearch.org

aioc

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Quote from: monkeyking03 on November 11, 2018, 02:49:00 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 agree that is correct, bounty hunters will be caught by surprise and if the guy is not into KYC he will be forced to do it, or else lose his stakes that he works for several months to earn, this is one of the bad sides of bounty hunting, you sometimes become a hostage.

cryptojac17

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Quote from: CoinCollect on February 28, 2019, 06:38:08 PM

I go through the KYC procedure only with proven bounty managers. If I have any doubts about the project, and then this project also announces the KYC procedure at the end, then I usually give up such a project.

Giving up in a specific project was totally a dumb idea when we found that it's not going to be successful. All the efforts wasted time and dedications has been worthless after all. How much more if you're an investor same as bounty hunter did for such a long time, and yet not paid for all hardwork done. The worst thing was submitting kyc without any assurance, that's why we should always be careful and make sure those managers handling have higher reputations.

Huntler1993

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It sometimes ridiculous how the rules Change during these periods but I always say there is nothing to fear if you are on the right path. So always lets try to be genuine in our ways and also put in mind or expect anything in this world of ours.

CoinCollect

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I go through the KYC procedure only with proven bounty managers. If I have any doubts about the project, and then this project also announces the KYC procedure at the end, then I usually give up such a project.

949miner

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In my point of view, some bounty project may ask bounty hunters to provide KYC document when they realize that bounty hunters are getting about 10% of the total coin distribution. some may be due to legal reasons associated to the type of project the bounty campaign is about. Bounty hunters usually have some effect of the market of the crypto coin and this may require the team to ask bounty hunters for KYC.

monineklutak

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I honestly don't mind too much but it would be better if they said it from the start so that bounty hunters could be better prepared because sometimes not every bounty hunter always monitors the updates provided by the development team so sometimes some are late knowing that they have to verify KYC and finally they don't get a token reward

terra_vival

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Recently, very often there are moments when at the end of the bounty project managers change the rules and require KYC. Such changes leave a negative impression about the project, perhaps in this way managers seek to reduce the payment of remuneration or for other reasons, but this is not fair.

Eildosa

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I agree with you. If the project announces from KYC at the end of the program, it is always very alarming to me. Only as a last resort I pass this procedure in such a project.

gabbie2010

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Quote from: monkeyking03 on November 11, 2018, 02:49:00 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.

These are some of the cunning ways of some bounty managers who are in the habit of shortchanging bounty hunters by introducing KYC at the end of a campaign I think this is is a very bad idea I am very sure the unclaimed stakes will be diverted into their wallet while denying hunters of their efforts.

fullhdpixel

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Quote from: itasannah on February 28, 2019, 03:59:23 AM

The KYC pattern must be changed and carried out at the beginning of the campaign. So that we bounty hunters who will join the campaign must pass KYC. If they can't get past I think they can't join the campaign. And there won't be many bounty hunters who are disappointed with the gift manager's decision.

Well you’re right, but that still won’t change the fact some of them are scammers who just wants to steal your information and after the campaign you still might not get paid and you just got scammed in every way. So be careful with every ICO and make sure you’re not giving out what you will regret later.

capableuwa1

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Quote from: monkeyking03 on November 11, 2018, 02:49:00 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.

It is well Understand that as part of the rules is; They can change the rules at any time. Also I think some also make KYC to be compulsory for all hunters because they try to protect their tokens from entering into the hands of those who does not merits it or those who get involved with multiple accounts.

Olatunjex

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Quote from: monkeyking03 on November 11, 2018, 02:49:00 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.

This is very disheartening when team breach terms and condition set on ground for a campaign just to pay below what they promise at the beginning of a campaign a team like that might not succeed with the project because they can keep to what they say and they can abandon the project at any time.

jvper

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The fair thing to do would be to redistribute to other bounty hunters because the number of accepted participants will fall.

bitbollo

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Quote from: monkeyking03 on November 11, 2018, 02:49:00 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 have never sent a single document to any ICO/ ITO.
I will never do it. My privacy is fundamental, even my personal documentation.

What if... a coin is really interesting?Just buy after an ICO in exchange / OTC market.

davinchi

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Hmm🤔 it’s not really all of them that are scammers, some of them have reasons as to why they request for KYC before their payouts, legal issues or so. But there are others that are scammers and after the KYC they will sell the information of the investors on the dark web for money. So that’s why you also need to he careful on the kind of info you give out.

AniviaBtc

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Quote from: monkeyking03 on November 11, 2018, 02:49:00 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 you really do have a point because the project should announce that they needed to submit a KYC before the beginning of distribution time not during, that is why more people are afraid to submit KYC because they think they will use their identities to trick other people.

eagleman

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Quote from: StephenJH on February 27, 2019, 07:24:25 PM

Quote from: eagleman on February 27, 2019, 07:18:21 PM

Like the quote that I've heard of before "if you are using a service for free, you are their product".

These airdrops and KYC requirement aren't just one single way for the developers, they can use our identities in something that they can in which only them are aware of.

It's simple, if you don't trust them don't send KYC.

Sometimes investors are forced to pay the KYC procedure. If the team decide to change rules for getting accepted by big companies then it will be essential to pass this procedure. I don't want to lose my deposit because of the small probability of getting scammed. Worst case is they will sell my identity documents on dark web.

They might be forced but they have a choice not to go through it.

Those scenarios you have mentioned are plausible and it's the reality calling everyone. Dark web isn't the very place they can sell your identities but they can also sell it in some other projects or marketing agencies.

cewekimut

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KYC is indeed very risky and sometimes used by people who are not responsible. KYC has good goals and therefore many Bounty projects use KYC. But I am also sometimes disappointed if it is announced suddenly at the end of the ICO. But if it really has to be done, I don't think it's a problem.

itasannah

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The KYC pattern must be changed and carried out at the beginning of the campaign. So that we bounty hunters who will join the campaign must pass KYC. If they can't get past I think they can't join the campaign. And there won't be many bounty hunters who are disappointed with the gift manager's decision.

Apes

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Quote from: belingbanged on February 28, 2019, 02:45:14 AM

This is really very worrying because when hunters struggle to the campaign so the project has many investors. But when the project was finished they were told to go through KYC. Maybe there is nothing wrong with KYC, but when it was said at the beginning it did not use KYC. And for those who don't pass KYC, I think the tokens are still in their possession.

I prefer to delay KYC. if the bounty token I have received has appeared on the dashboard. and the token has a market or exchange and is valuable. then there is no problem doing KYC. if the token is already on the dashboard then just calm down we can do KYC at any time. I will not do KCY on ICO scam. on my experience doing KCY with original data is always easy and never denied.

Topic: KYC as a Scam - page 4. (Read 22301 times)