Topic: KYC is simply just to cheat bounty hunters. - page 10. (Read 80004 times)
I agree totally with you, KYC should be for investors alone because they are the real customer, and shouldn't be for those that help promote their programs. And if this is going to happen, it should be at the start of participating so that they won't feel cheated if at the end they don't have the requirement for the KYC.
KYC is for banks and government institutions. I gave my KYC when I took out an investment in a hedge fund and when I opened my bank account and when I bought my phone and TV license. Other then that don't give KYC.
Asking KYC is not even legal btw.
KYC?? There is no KYC I don't even know where this bs comes from.
Only give KYC when its legally needed such as TV/car/bike license. Opening a bank. Taking a load or making a large investment.
Small investments no KYC is needed.
Bounty participants don't ever need KYC if they ask for KYC do not work for that project.
You cannot launder money doing bounty and money launderers do not launder piss all dust they launder tens of thousands or hundreds.
Asking KYC for $300 investment is laughable and very unprofessional. Its a joke.
Asking KYC is not even legal btw.
KYC?? There is no KYC I don't even know where this bs comes from.
Only give KYC when its legally needed such as TV/car/bike license. Opening a bank. Taking a load or making a large investment.
Small investments no KYC is needed.
Bounty participants don't ever need KYC if they ask for KYC do not work for that project.
You cannot launder money doing bounty and money launderers do not launder piss all dust they launder tens of thousands or hundreds.
Asking KYC for $300 investment is laughable and very unprofessional. Its a joke.
It is totally uncalled for requesting hunters to do KYC. Hunters are not your customers. It is just a newly developed tactic for the bounty manager to cheat. Knowing very well that most bounty hunters don't have the required documents. Personally I have decided to let go the rewards of most bounties because of KYC.
I don't understand why projects require KYC before paying bounty hunters. It is actually not needed and most bounty hunters fail this KYC and never get their rewards after working hard for a long time.
what most bounty managers say when questioned about the the fact that why was there nothing like KYC at the beginning of the bounty but after the bounty when bounty hunters are eagerly waiting for their rewards is that, there bounty rules are subject to change at anytime. To me, that is mostly not the fault of bounty managers but project managers which in a way its very bad but since you as a bounty hunter read the rules yourself and realized it was subject to change, if you consider KYC to be a big deal for you, you can ignore it and move on because no bounty manager forces anyone to participate in their bounties.
If you look at it from the perspective of a bounty hunter, it's really not a customer.
But in my opinion, KYC is important in the bounty. This gives a sense of security.
And this provides a process of elimination of bounty scammers.
But in my opinion, KYC is important in the bounty. This gives a sense of security.
And this provides a process of elimination of bounty scammers.
It shouls be fairly and clearly mentioned in the bounty thread from the beginning. However, in their bounty rules, they mention that they can change the rules anytime, so, I think from that point, you can't do anything.
Events do not always develop that way. Some bounty do not request KYC beforehand, and you have two choices: either complete the KYC or leave the prize. This has no relevance with being fair.
It shouls be fairly and clearly mentioned in the bounty thread from the beginning. However, in their bounty rules, they mention that they can change the rules anytime, so, I think from that point, you can't do anything.
In order to prevent some hunters from creating multiple accounts. some projects require KYC. it seems very reasonable. however, i think the best solution is: we need a third-party KYC agency. we only need to complete KYC once. Its certification is suitable for all bounty projects.
To my understanding, KYC simply means "Know your customer". Investors(customers) who participate in ICO are made to go through KYC process before they are even allowed to purchase their tokens. On the other hand, Bounty hunters are just "part time workers" of the project and not customers. Even if they will be made to go through a KYC process, it should be before they start working and not after. Waiting for them to finish working for the project and refusing to pay them because they failed to pass KYC afterwards is a total cheat.
In as much that KYC means Know Your Customer, in the crypto ecosystem customers are basically anybody who have that particular token or crypto coin in their wallets. They regard and see anyone having their token or coin as a customer which they need to verify and know. I don't really see kyc as a way to cheat bounty hunters. There are rules governing any bounty campaign on this forum and each bounty campaign makes their rules very clear and precise regarding the requirement needed to participate. If you think the Bounty project is not worth your details why bother joining...
I seriously agree with you on this post. I think if a project wants bounty hunters to do kyc, then it should be properly stated in the bounty thread before the bounty started and the process should be in place during the bounty. Because most of these projects use kyc as a means of denying bounty hunters full payment. They won't say anything about kyc during the campaign and then come up with a complex kyc process when its time to pay bounty tokens just to reduce the total rewards they will send.
I think KYC doesn't matter in bounty. Because it is easy to fill out a fake KYC. As long as regulation and legalization did not implememnted KYC system has did not accurate data because there is no rules or law that punish all the fake users or account here in crypto. And I don't get the point why bounty hunter needs a kyc because we are here in crypto world. We need an instant transactions.
KYC should be done and passed easily. the process must also be fast so as not to take the time of the participants, because they certainly do not want to spend time just for kyc, because the bounty is their main goal.
To my understanding, KYC simply means "Know your customer". Investors(customers) who participate in ICO are made to go through KYC process before they are even allowed to purchase their tokens. On the other hand, Bounty hunters are just "part time workers" of the project and not customers. Even if they will be made to go through a KYC process, it should be before they start working and not after. Waiting for them to finish working for the project and refusing to pay them because they failed to pass KYC afterwards is a total cheat.
i second your idea whereby bounty hunters and not pre-informed before starting of bounties for KYC but when after they are done with promoting the project, then there come KYC which when most of them fail meaning lost of bounty tokens. its a total cheat and bounty managers should make enquries from the team of the project about KYC so that bounty hunters may know scratch.
I don't understand well why need to required bounty hunters kyc because crypto digital currency create as anonymous that's reason most of the people adopt crypto to secure their identity as hunters or investors.
Yeah that's true it's really pain especially for the hunter because some of the ico from the start of of the project saying kyc is not required but later on after the project end they ask kyc if they want to get their token so hunters force itself to follow it.
One thing that I always put in mind is that KYC is indeed a way to cheat bounty hunters so I just do it in order to prevent being cheated. But in cases where I do not meet those KYC requirements, I really the pain of working in vain.
Yeah that's true it's really pain especially for the hunter because some of the ico from the start of of the project saying kyc is not required but later on after the project end they ask kyc if they want to get their token so hunters force itself to follow it.
To my understanding, KYC simply means "Know your customer". Investors(customers) who participate in ICO are made to go through KYC process before they are even allowed to purchase their tokens. On the other hand, Bounty hunters are just "part time workers" of the project and not customers. Even if they will be made to go through a KYC process, it should be before they start working and not after. Waiting for them to finish working for the project and refusing to pay them because they failed to pass KYC afterwards is a total cheat.
Well in part everything you say is real, you also have to see it from the point of view of the projects that are legitimate, and authentic, in fact in an ICO project that I am participating in, they became STO, and I asked them why they demanded the KYC? They answered that they did it to avoid frauds with multi-accounts, apart from that they have a validation process x3 and the last validation process is done by a company external to the validation team that they had hired.
This way over time, I asked again why they were still? and they responded that they had discovered many scammers who wanted to get the tokens in a bad way, taking the opportunity away from those who had done their AIRDROP phase and tasks respectively, and who wanted their Tokens to reach the people who deserve it.
These reasons, I think very good, also the project looks very stable and I give a plus many times to the KYC although it often bothers, especially for people who love anonymity.
To my understanding, KYC simply means "Know your customer". Investors(customers) who participate in ICO are made to go through KYC process before they are even allowed to purchase their tokens. On the other hand, Bounty hunters are just "part time workers" of the project and not customers. Even if they will be made to go through a KYC process, it should be before they start working and not after. Waiting for them to finish working for the project and refusing to pay them because they failed to pass KYC afterwards is a total cheat.
Agree kyc must do before you work in the project because sometimes kyc do failed and at the end you will not receive your token because you failed on it, but many people point is why they need to do a kyc? They are just a hunter and didn't invest on the project, I think most of the bounty hunter joining many account when they know that the project will paid a high value or it was legit.
I totally concur with you. KYC is a way that projects use in cheating bounty hunters a lot.
I would go further and call it extortion and deceptive business and marketing approach, some of the time projects do it purposefully so they need to pay less tokens as only a few portion of bounty hunters pass the kyc after the ico and rest don't give their archives making them excluded for the reward which is exceptionally out of line, there ought to be some development answer for kyc in the event that it is compelled to bounty hunters.
I would go further and call it extortion and deceptive business and marketing approach, some of the time projects do it purposefully so they need to pay less tokens as only a few portion of bounty hunters pass the kyc after the ico and rest don't give their archives making them excluded for the reward which is exceptionally out of line, there ought to be some development answer for kyc in the event that it is compelled to bounty hunters.
it would be better if KYC was done from the start, like making it one of the conditions to become a bounty participant so that no one was not paid for what they did because it would be very sad if they didn't get anything just because it didn't pass KYC even though it indeed our account, the address of our wallet and indeed we are working
While it is true that your argument is valid, I do not think that the bounty hunters should have more privileges than the investors, and to demand the KYC only to the investors seems to me in some way unfair, I believe that all the participants of the project must pass the process.
On the other hand, the KYC seems to me an undesirable but necessary requirement, because one of the reasons why frauds and scams have happened so frequently in this sector of the market is because of the lack of regulation, and the KYC is an important step towards legal protection for all parties.
On the other hand, the KYC seems to me an undesirable but necessary requirement, because one of the reasons why frauds and scams have happened so frequently in this sector of the market is because of the lack of regulation, and the KYC is an important step towards legal protection for all parties.
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