KYC for Bounty. Why do it? - page 5.

Rohtox

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Quote from: timX5 on August 07, 2019, 08:14:08 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.

Yes, that's not token sale as you said. however There's a good and bad side while submitting KYC for bounty hunters.

Good thing is the KYC process will eliminate bounty scammers from the list
bad thing is There is no guarantee what your data will be made to by those who receive your KYC data.

However, KYC must also be implemented using the same method as Token Sale, even though Bounty Hunters don't invest money there (but they invest with their work that promotes the project).
if the KYC mechanism differs between Bounty Hunters and Investors (for example, KYC Bounty Hunters with Google Form) I think this should be further investigated, even for good projects. because it is possible, bounty managers collect your data unilaterally and without the project developer knowing, then they (Bounty Managers) use your data for their needs.

103deltafox

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Most times the reason kyc is implemented for bounty hunters is to prevent hunters that want to cheat the system with multiple accounts. Also when a bounty restricts some countries from participating. Though I am not in support of kyc because some scam projects could sell people's information.

domoy77

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It is possible to reduce fraud, because many accounts are greedy, with the existence of KYC the relationship between the two parties knows each other, as long as the project is really good, clear from the road map etc.

Endikadija

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Quote from: Muzika on August 10, 2019, 10:22:45 AM

It is for the solution of the multiple entry but it wont cure the scam side of the team, how we are sure about the people behind the team if they are legit or not?

When it comes to legality there are international law about KYC process that must be done but it wont assure the payment for the participants.

Mor ethan tens cases about the project become a scam after the verification by hunters and it's not safe anymore. I heard that data collected from the hunters have been sold to the darknet. I even meet a scammer who has claimed he was selling the investor's email but i think that's related to the bounty hunter's data or some may investor's email. i have seen that in this trade section.
It's too risky. the double entry is easy to be discovered through use BTT verification.

Vishnu.Reang

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Quote from: sarmrakib on August 10, 2019, 10:19:18 AM

KYC process actually work to know the customer.You can easily decrease the scammer and fraudster.I think it work much for bounty .The dev. team easily catch up the double entry scammer and remove them to rewards .I think there is nothing about illegality just make it clear to rewards the real hunter.

Seriously? There are many better and less tedious ways to remove the double entries. But none of the bounty managers seems to be interested. Do you think that the only way to remove multiple application is by KYC verification? So are you willing to send the scanned copy of your passport to some unknown bounty manager?

iyah adrian

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Quote from: ?? on ??

In fact Bounty KYC is a good aspect that will help fake, duplicate people identify so many projects make KYC practical for both the Bounty hunter and the investor. It's true I didn't support kyc before, but now I want to accept kyc because now I participate in very few projects.

KYC is good for real bounties.
As you said, there are several reasons why KYC should be used for bounty participants. But from all that, there are still many people who don't like KYC. For me personally, as long as I am confident in the project. I will do it.

fortunecrypto

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Quote from: timX5 on August 07, 2019, 08:14:08 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 don't recommend KYC or participating in bounty hunting or airdrops that do KYC, it's very risky the cheating stuff is just an alibi, for bounty hunters not to get their rewards, because when they first launch their campaign, they will tell you that there will be no KYC, but after the token calculation and before the distribution, they will announce bounty hunters to go KYC, it's an old trick.

voltesbit777

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Quote from: timX5 on August 07, 2019, 08:14:08 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.

This is depend on the discretion of the bounty manager, probably prevent cheater in the campaign.
But sometimes there is also risk, what if the project was scam only especially if they are pushing the bounty hunters
to submit it even the the participants not yet starting His/Her work for the campaign. So that's really risky actually.

icekohl

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Quote from: ?? on ??

Kyc is the best way to stop people doing multiple accounts, there are alot of greedy hunters in crypto space, without kyc hunters will keep flooding bounty spreadsheet with multiple accounts.

I can say that KYC system is too easy to pass, except KYC by camera. No matter how difficult it is to ask KYC, they will find the way to pass it. It is not necessary for Hunters, sometimes you have to provide your information for only a few cents, it really is not worth it.

ginobitcoiner

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Quote from: timX5 on August 07, 2019, 08:14:08 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.

Currently, Know Your Customer (KYC) is not only aimed at investors who make token purchases, but is required to bounty hunters, because many people do multi accounts to get a lot of bounty rewards, therefore DEV doesn't want to lied to by multiple accounts carried out by several members of the forum, so they impose KYC on bounty hunters to get bounty rewards.

(o)(o)ilikeboobs(o)(o)

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Quote from: timX5 on August 07, 2019, 08:14:08 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 good for both bounty hunters and bounty founders.
Hunters are always want to do more than 1 account in a campaign, to make more and more token, much as possible if that's a good bounty.
And founders want the opposite thing.
So it's fare for both. Things get equal.

And sometimes, they just want you information. Cheesy

ethereumhunter

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I think KYC for bounty is to prevent the cheater from joining in the same project so they can get bigger rewards. But with so many scam project and bounty, I think that is not worth if people send their document to the project because people don't know what will happens later with the project. Although the project can guarantee that they will protect the document, it doesn't mean they can do that in all day long because who knows, there is a hacker who can penetrate their system and steal the data.

jazmuzika217

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I think they have a rights to ask the KYC of every bounty hunters to avoid some incident of scam and fraud but I think bounty managers will need also to present their KYC for the assurance of every bounty hunter that the bounty campaign is legit. And also to be just and right to same part between bounty hunters and bounty manager.

Turk Ace

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It is a scam so they can sell your KYC info. They don't keep it safe and they check it themselves which they not supposed to do. There is no legal reason they are just lies.

The bounty participants are not who we should worry about. They can barely hurt the team even if they make 100 accounts. The de team itself is where the focus should be. They can scam every single bounty hunter. If anyone should take KYC it should be the Devs.

sinta23

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The average KYC is conducted for bounty participants because it is indeed to carry out verification that it is feared that bounty participants commit acts of fraud that often occur. and the existence of KYC Actually also still a controversy for many parties

Muzika

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Quote from: sarmrakib on August 10, 2019, 10:19:18 AM

Quote from: timX5 on August 07, 2019, 08:14:08 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.

KYC process actually work to know the customer.You can easily decrease the scammer and fraudster.I think it work much for bounty .The dev. team easily catch up the double entry scammer and remove them to rewards .I think there is nothing about illegality just make it clear to rewards the real hunter.

It is for the solution of the multiple entry but it wont cure the scam side of the team, how we are sure about the people behind the team if they are legit or not?

When it comes to legality there are international law about KYC process that must be done but it wont assure the payment for the participants.

sarmrakib

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Quote from: timX5 on August 07, 2019, 08:14:08 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.

KYC process actually work to know the customer.You can easily decrease the scammer and fraudster.I think it work much for bounty .The dev. team easily catch up the double entry scammer and remove them to rewards .I think there is nothing about illegality just make it clear to rewards the real hunter.

Stanlo

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KYC for bounties is to stop multiple accounts and bounty spammers but the truth is every bounties i promoted that has KYC implemented ends up not paying bounty hunters and the bounties with no KYC pays every dime,since then i dont bother to promote bounty projects with KYC implemented.

farraddy

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Most bounty hunters are very ambiguous about the KYC procedure. They just advertise some project and it is not clear why their personal data should be in the project. After all, they are not investors.

TelolettOm

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Marketcap is currently still largely dominated by bitcoin. so in my opinion it's reasonable if we see that the price movement of altcoin still can't be that big and what happens is the price decrease

Topic: KYC for Bounty. Why do it? - page 5. (Read 1233 times)