Topic: KYC for Bounty. Why do it? - page 6. (Read 1198 times)
I think basically some projects are not supposed to ask for kyc from bounty Hunter, but some hunters are becoming greedy and they are running multiple accounts which is very bad, that's why project are requesting for it
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.
Most project required KYC because of the regulations that's ongoing with some jurisdiction concerning cryptocurrency and some of them have taken it upon themselves to implement it. In some jurisdiction KYC is legal while in some jurisdiction like mine its not legal. Yes even though its not the token sales but remember that you are talking about token, either sale or airdrop they are all tokens. 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.
They just wan't to be sure no users are using there farm to get most of the bounty tokens.
Of the several reasons for issuing a bounty, decentralization too is also a part. If a large portion of the tokens goes to a person farming 100s of account, it would not be according to the goal and would be unjust. So, they force KYC to establish person to account realtion.
The purpose of kyc is to prevent scammer or some people that want to take advantage from the project, but for me its tainted the crypto purposes, and I don't want to submit my data to some random site or people, so whenever I see a project with kyc I will skip it, no matter how potential the coin, and its legal to ask for kyc there is no restrictions, but its better to avoid it
I try not to even enter into projects where they write that KYC is mandatory. but if I face the fact that the company announces KYC at the end of the bounty, then I pass it because I think it's better to go through than lose the rewardWhat if they are scammer? There have been many people think like you. They have lost their reward and their identity documents have been also stolen. In my idea, you should never give your identity documents to others unless you completely trust them.
In my opinion, the existence of KYC is to make it difficult for greedy people to participate in projects, because from 2017 many people have many accounts to beat up one project only to get very large results. so the KYC is very helpful to eradicate people's greed
If they have multiple accounts and they need to pass KYC, I think they will easily buy someone else's KYC information to make KYC account. Currently, KYC information buying and selling is very much and this is not a good way for projects to avoid greedy people.
Some project has been implementing KYC before bounty project start, which simply (known as Know Your Customer), and some bounty manager and team really want know how many participate, by showing identification before distribution, not to send Ghost token.
In my opinion, the existence of KYC is to make it difficult for greedy people to participate in projects, because from 2017 many people have many accounts to beat up one project only to get very large results. so the KYC is very helpful to eradicate people's greed
If they have multiple accounts and they need to pass KYC, I think they will easily buy someone else's KYC information to make KYC account. Currently, KYC information buying and selling is very much and this is not a good way for projects to avoid greedy people. 
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 is an attempt to close the possibility of 2 accounts from the same person. so if done kyc, then the identity of the bounty hunter will be clear, and on what account he does kyc. after that bounty hunters who want to cheat with multiple accounts will never be able to do it. 
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 is mostly required for bounty hunters not as an initiative from the devs but because the legal registration or license commands them so. This is in line with laws or policies on anti-terrorism, anti money laundering, and so on. But you could always doubt that. After all, what is at stake here are your personal information in exchange for a few bucks. Take a little pause and compute whether it is worth divulging some personal info and get some little amount or avoid releasing them and not have that payment. All your choice!
well mostly they required KYC to make sure that bounty hunters can not cheat, but make sure that bounty campaign you join is legit, it is risky to submit a KYC to scam bounty.
How can you be sure that they are legit? Are they under any regulation of a certain country? Things you need to know first before risking your information through KYC, remember the news about Binance Leaked of KYC information? It happened to big exchange, so it's more possible in small projects. for KYC, it is the policy of the Bounty Manager, with the reason to prevent multiple accounts.
False. KYC needed or not its back to the dev, bounty manager/campaign manager only do the job as like they (dev) want. well mostly they required KYC to make sure that bounty hunters can not cheat, but make sure that bounty campaign you join is legit, it is risky to submit a KYC to scam bounty.
Legit bounty is nearly 0% right now (including ICO you advertized now). Better to ask them pay with bitcoin instead of their token
well mostly they required KYC to make sure that bounty hunters can not cheat, but make sure that bounty campaign you join is legit, it is risky to submit a KYC to scam bounty.
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.
Are there jurisdictions which would require bounty to have KYC?
No there is none it's everyone for himself, KYC at your own risk
Why do some projects require KYC for bounty?
Another way to make an income by selling participants vital information
is it a way to make sure they are not being scammed by bounty huntrs?
Bounty hunters are not scammers they just here to promote the project
I also don’t understand why, for the sake of a few dollars, to demand KYC. But I think that this is done intentionally in order to weed out some of those who do not want to go through KYC. I also think that some manual SWAPs are often carried out in order to reduce the number of token holders among participants in bounty campaigns.
There are some projects that are asking hunters to take part in KYC process to claim their rewards. I do not see something unusual of strange in taking part in KYC, but if they announce it several weeks after bounty end, such things are pissing me off.
There are many duplicate entries in bounty camapigns,, so in order to eliminate this kind of doings KYC is implemented. Also, it is an SOP for IEO to under KYC for their bounty participants for security reasons.
It's easy to verify the real participants from the duplicate entries and that even doesn't need KYC but it looks like to comply with the regulation is more suitable compared with that reason that you have mentioned it. but this time so many scam icos and would you like try to put your KYC anywhere? It looks like the majority of bounty participants don't care about their KYC. 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.
The essence is to fish out people with multiple entries in bounty campaigns but have also noticed that it hasn't been that effective as people still do multiple and go freely
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.
There are many duplicate entries in bounty camapigns,, so in order to eliminate this kind of doings KYC is implemented. Also, it is an SOP for IEO to under KYC for their bounty participants for security reasons.
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.
They usually ask for KYC form filling in order to avoid people abusing their program. This help the project to remove users that use multiple account to join their bounty hunting program. This is about a legit project I am taking about. Project that in the market with an intention to scam people asks for KYC so that they can make more profit by selling your information to other people! That is why it is best to avoid any programs that asks for KYC.
It is been talked already for several times but something KYC is getting hotter and considers as one of the requirements in order to receive rewards from bounties. We know its a risk in dealing this but we can't do anything if we would like to have those rewards. KYC isn't a problem if we know the purpose for this and we find that it gonna be handled safely.
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