KYC for Bounty. Why do it? - page 8.

cabron

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Quote from: bastian466 on August 09, 2019, 11:25:36 AM

Quote from: TheICE007 on August 09, 2019, 09:32:21 AM

Doing kyc for token sale isn't bad, but I really see no reason why there should be kyc for hunters. Hunters are there to promote a project, they work for the company and should get paid. Almost not to exceed bisect, the bounty should be capped that using kyc to cut hunters of.

It's clear the use of KYC for hunters to reduce the fraudulent use of multiple accounts. if someone does not fill KYC the responsibility itself will not get paid, in fact I also do not agree with it but with project regulations certainly would have to be obeyed

Bounty hunters has a way to avoid getting caught with multiple account, its always easy to submit someone else documents.

The reason for them to also ask KYC is that whoever owns the tokens be bounty hunter or an investors, they should be treated as holders who has to have records. Sooner all of them will compare all these data to filter all those cheaters. Hope not lol

bastian466

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Quote from: TheICE007 on August 09, 2019, 09:32:21 AM

Doing kyc for token sale isn't bad, but I really see no reason why there should be kyc for hunters. Hunters are there to promote a project, they work for the company and should get paid. Almost not to exceed bisect, the bounty should be capped that using kyc to cut hunters of.

It's clear the use of KYC for hunters to reduce the fraudulent use of multiple accounts. if someone does not fill KYC the responsibility itself will not get paid, in fact I also do not agree with it but with project regulations certainly would have to be obeyed

Ken_terrance

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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.

As much as i hate to submit my I.D to any form on online verifications ive come to realized that KYC for bounties is not that bad like many thinks it is,it helps get rid of scammers and spammer but where my doubts lies is if the submitted I.Ds are safe,no darkweb sell out?i heard about it alot and its scary

Ta.Form

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They do it to reduce cheating in the bounty campaign. For me, it doesn't matter, as long as they don't complicate it. There are still many prizes that make it difficult when we want to upload KYC, to delay the distribution time. And again, they accuse our identity is edited. That's what I can't accept.

akram143

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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.

Asking for KYC is about the project teams requirement I don't think they ask KYC just because their government needs it.

iyah adrian

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The reason I usually meet, why prize hunters have to do KYC.

• To avoid fraud in bounties or people who use multiple accounts.
• It was required from the start by the project. Even though we are not investors.

For all these reasons, the reward hunter's response is certainly different for KYC. Some agree and some don't. As long as you are comfortable doing it, then do it.

Taufik blackspade team

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Quote from: shaheer001 on August 09, 2019, 11:02:50 AM

KYC is good practice but for bounty hunters there may be simple as only to avoid scammer and duplicate entries. Like mobile verification, email verification and bitcoin forum verification, Not demand for documents like National id card etc.

is there a KYC like that for the bounty project? looks simple and not difficult. but that's not what the developer wants. really makes it difficult for participants who join many accounts to claim their reward, that is their goal. it will not work 100% because some can definitely do KYC with other people's data.

ub27

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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 believe the essence of KYC for any project is to give its clients the assurance that it is a legit project while some also use it as a means to curb out multiple entries for bounty hunters

shaheer001

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KYC is good practice but for bounty hunters there may be simple as only to avoid scammer and duplicate entries. Like mobile verification, email verification and bitcoin forum verification, Not demand for documents like National id card etc.

Deallove9

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I don't like kyc for bounty but it has turn a new leaf in the industry which I think are now major for almost all project but in other way trying to prevent scammers who use many account to participate in the bounty but the team has also abuse the privilege. So we have no choice than to do it as most do tell at beginning but at end and you have to do it in other to have your reward.

Grenee

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Know your customer is just to ensure and guide hunter not to run multiple when participating in a campaign. Many hunter are too greedy, they will run different accounts because they want to make more money. So I think kyc is still the best to avoid multiple and fraud

ilhamsugihamin

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in my opinion KYC bounty functions to ensure the bounty hunter does not commit fraud, for example using 2 or more accounts with the same id card.

Yabuy92

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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.

Indeed Kyc prevents cloning from participating. the question is whether it will be safe to give our data to the developers if we follow the bounty ?

cliber

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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 agree if the KYC for bounty is evidence that the participant is serious in the success of the program and should not be blamed on the token. In my opinion, for such reasons, I accept and I always submit if needed.

dvdrewritable

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Yes, we see in many bounty that they ask for KYC. And this also means that in my opinion, because many times there are many scamer who open many accounts and then work. If one person has many accounts then everyone else cannot participate then. it is very bad. Therefore, to verify any scamer, the KYC is given by the admins of any project. So its safe i think.

TheICE007

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Doing kyc for token sale isn't bad, but I really see no reason why there should be kyc for hunters. Hunters are there to promote a project, they work for the company and should get paid. Almost not to exceed bisect, the bounty should be capped that using kyc to cut hunters of.

chocopapaya

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I think the major reason for KYC is for legal reasons.
The thing is, there really aren't any laws in any country that requires it for crypto yet.
And that's the key word: yet.
So although KYC is currently totally uneccesary, there is a high chance that it will get more regulated and possibly require some form of KYC in the future.
To protect against that, projects have KYC all the way through.

Also, it can help weed out scammers.
First off, it can make casual bounty hunters who aren't serious go away.
And it can help multi accounting.

But, despite all this, my own personal opinion is that it is totally unnecessary.
Every country that makes a new law doesn't do it retroactively, meaning, you aren't held accountable for things done before the law was made.

MCDev

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There are a few projects that are managed by law, so they will need to ask KYC who owns the project token. And there are many scam projects that want to have user information and sell it for profit. That's my thinking about KYC

Viceroy

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Some projects require KYC because of fear of the law, while others because of a desire to prevent users from registering with different accounts.

senin

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Quote from: nxnqauff on August 07, 2019, 08:15:16 AM

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

Using KYC checks to prevent bounty hunters from using multiple accounts illegally. Such an inspection should be carried out only with the aim of preventing cases of dirty money laundering and combating the financing of terrorism. Since the conduct of such an inspection is connected with a violation of the rights of citizens to the confidentiality of the person, it cannot be used in cases not provided by law. Now, after the FATF recommendations of June 21, throughout the year most states will be required to adopt their own internal laws, which will also include cases of KYC inspections. Regulation of this issue will be much better than the absence of any regulation.

Topic: KYC for Bounty. Why do it? - page 8. (Read 1250 times)