KYC for Bounty. Why do it? - page 3.

judeafante

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Quote from: qweqwe2121 on August 12, 2019, 04:31:54 AM

Quote from: oxgroth on August 07, 2019, 09:41:53 AM

To sell your personal data in case of bad token sales

Is it true ? honestly this is the first time I've heard this. If it's true that they sell other people's personal data is there a law that can ensnare them? I feel that some of the ICO scams that I participated in are asking KYC for hunters. I hope this is not bad with my personal data and the hunters.

The authorities will have a hard time prosecuting them if they are going to sell the information in the black market, they sell it in the black market where everything is anonymous and, you should do your research first before doing KYC.

Torps1

member

Activity: 574

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Kuvacash.com

Asking bounty Hunters to pass KYC is not a big task as long as such hunter(s) is sincere in his/her work.
I think such information is needed by team so as to avoid cheating on the side of hunters.

Bitze

legendary

Activity: 1638

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Quote from: ?? on ??

Quote from: timX5 on August 07, 2019, 09:14:08 AM

Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.

Some bounty scam will take advantage of KYC to get your information and sell it. And if bounty legit, KYC will help them eliminate cheating, many accounts .. and ensure the legality of the project

that's a very important topic. so far i've always relied on my feeling.
often KYC is obligatory but the tokens are not worth it. sometimes you have to qualify via KYC at exchanges to get bounty tokens there.
you have to consider in any case whether the tokens are worth all the data to publish. it can not be answered in general, but i often go
risk and make KYC in the hope that in this campaign little to no cheaters to have. Wink

qweqwe2121

member

Activity: 630

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Crypto ✪ Enthusiast

Quote from: oxgroth on August 07, 2019, 09:41:53 AM

To sell your personal data in case of bad token sales

Is it true ? honestly this is the first time I've heard this. If it's true that they sell other people's personal data is there a law that can ensnare them? I feel that some of the ICO scams that I participated in are asking KYC for hunters. I hope this is not bad with my personal data and the hunters.

mamesso

hero member

Activity: 2114

Merit: 740

Leading Crypto Sports Betting & Casino Platform

Each bounty campaign has different rules, including being required to verify KYC for each prize hunter who wishes to participate in the bounty. Actually the KYC verification process is required to prevent scammers and participants who want to register with a different account. So every account that has passed the KYC process can be sure that the account is legitimate, so the work of the bounty team will be even easier.

Drai

sr. member

Activity: 567

Merit: 270

Most campaigns I know who require KYC for bounty hunters do so to stay in the right side of regulations, but it also has the indirect effect of ensuring that bounty hunters do not try to cheat the system as well, so it's a win/win anyways.

Plinteng

jr. member

Activity: 286

Merit: 3

https://goldeth.io/

I know KYC to avoid fraud or multi-accounts, and not only for prize hunters but investors also do the KYC system if you want to buy project tokens. the most important thing is you can't do kyc to get prizes from airdrops or unauthorized signature campaigns.

Saisher

full member

Activity: 2240

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Quote from: timX5 on August 07, 2019, 09:14:08 AM

Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.

It's not right to do KYC if you are going to get a 3 to $5 worth of their token when you sell it in the market, I don't see the logic why you want to sell your sensitive information, for pennies, but the ICO that you are selling your information cannot even guaranty that their token will be profitable when it hit the market.

leea-1334

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Temporary forum vacation

Quote from: nerlial on August 12, 2019, 02:35:08 AM

I think KYC for generosity is a cat in a poke. The team has nothing to lose when it tells the hunter to go through KYC. Hunters do not understand why they should give their documents to an unknown project.

Wow,,, first time I have heard of such a saying or idiom;) But yes,,, I get what you mean. But you are wrong actually. The team has a LOT to lost if it is the one managing the KYC for their users,,, thanks to something called GDPR. Every mistake they make about the storage or use of personal data will be very costly to them. Today no one is pursuing teams for it but one day soon, everyone will be so careful about asking for data.

waichi

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Reinventing Decentralised Finance on BSC

Quote from: nxnqauff on August 07, 2019, 09:15:16 AM

Quote from: timX5 on August 07, 2019, 09:14:08 AM

Why do some projects do KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.

Its a good way to eliminate duplicate entries, scammers, etc.. Project team claims this when they go for KYC especially for bounty hunters.

To avoid spammers of multiple accounts because many are joining in a bounty campaign under different names owned by one person. And to ensure that bounty rewards are being rewarded by real people not just by a dummy name.

nerlial

member

Activity: 546

Merit: 10

I think KYC for generosity is a cat in a poke. The team has nothing to lose when it tells the hunter to go through KYC. Hunters do not understand why they should give their documents to an unknown project.

AngelJoshua

member

Activity: 630

Merit: 10

Quote from: timX5 on August 07, 2019, 09:14:08 AM

Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.

Well it really have negative and positive effects for me, The positive one is they can make sure the legitimacy of their users to avoid the multiple accounts or related while the negative is it's hard to trust now which project or company will going to keep those documents safe.

Ozero

full member

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Chainjoes.com

Quote from: Convery on August 11, 2019, 03:19:58 PM

KYC process is a way how to eliminate scammers and multi accounters.
But also it is a way how to steal your identity, just like recent Binance hack.

Firstly, the KYC check is not designed to deal with multiple accounts in this forum. Such an inspection should exclusively be carried out in order to prevent cases of dirty money laundering and to combat the financing of terrorism. Using it for another purpose is illegal.
Secondly, in my opinion, owners of several accounts can pass the KYC check quite easily if they use the data of their relatives and friends.

GWS My Boy

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SAPG Pre-Sale Live on Uniswap!

Quote from: timX5 on August 07, 2019, 09:14:08 AM

Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.

what do I know KYC to avoid from multi account or playing cheater but not intended for all bounties all depending on your choice if you are able to meet the KYC requirements, you can join if not better looking for another bounty

qomariah95

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Activity: 1190

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Quote from: ?? on ??

Many factors require that we do the kyc mechanism to be able to get our rewards. because right now the manager is using kyc to avoid cheating by the participants. like using multiple accounts in one campaign

People who use multiple accounts are usually KYC applied to bounty hunters. And there is also because the project does require it, both for investors and bounty hunters. I personally strongly agree, if you do KYC to get rid of people who cheat by using multiple accounts.

posi

hero member

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Leading Crypto Sports Betting & Casino Platform

If we want to view it properly. KYC was implemented back then for crypto investors not bounty hunters but we can't blame some project owners either for asking bounty hunters KYC since some people abuse the bounty campaign section.

Quote from: Ferris419 on August 09, 2019, 02:57:15 PM

Recently, one guy confessed that he joined in a signature campaign with his 22 high-rank accounts!

Out of curiosity, could provide the post link.

HellDiverUK

hero member

Activity: 1246

Merit: 501

I totally agree with KYC for bounty hunter, this sometimes proves that they / dev want to pay and do not want to be cheated, if KYC is limited to e-mail and ID card / driving license it still feels normal for bounty payments above 100 $.

fosco333

full member

Activity: 1260

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Quote from: timX5 on August 07, 2019, 09:14:08 AM

Why do some projects require KYC for bounty? Is this a legal thing or is it a way to make sure they are not being scammed by bounty huntrs? Are there jurisdictions which would require bounty to have KYC? This is not a token sale after all.

I think they do that so they can give efficient rewards to the real hunters, not the one who use multiple accounts.
The hunters are free to choose if they want to joining such campaign or not.
If we sure the project of the campaign is very good, KYC is not a problem.

wildflower18

sr. member

Activity: 714

Merit: 250

The most reasons to eliminate or minimize scammers about joining their project. To be sure we must do our delligince before joining a bounty. Always remember do not trust easily by submitting kyc since most issues there are many who steals our personal document and sell it online.

Google+

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Merit: 550

Leading Crypto Sports Betting & Casino Platform

KYC is usually used to get rid of cheaters who are participants of bounty campaigns, some of your campaigns can see that many people's bitcointalk profiles are used by other people and it is detrimental to those who are victims, so KYC can avoid the participants of such cheating bounty campaigns.

Topic: KYC for Bounty. Why do it? - page 3. (Read 1198 times)