KYC is simply just to cheat bounty hunters. - page 25.

iged_war

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Quote from: Gridness on December 28, 2018, 01:15:13 AM

Quote from: Dacosta Osei-Tutu on October 13, 2018, 06:52:04 AM

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 think they did it because they knew it would happen like this, the bounty manager or dev who is like this is a good manager. And I think this will reduce cheating

bounty manager or dev team has their opinion for each rules.indeed about kyc verifcation, as new project they just preventing if someday local regulator audit their projects.and kyc could be their solution to protect their investors.

Gridness

copper member

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Quote from: Dacosta Osei-Tutu on October 13, 2018, 06:52:04 AM

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 think they did it because they knew it would happen like this, the bounty manager or dev who is like this is a good manager. And I think this will reduce cheating

minatour

member

Activity: 687

Merit: 11

Quote from: passwordnow on October 13, 2018, 07:09:08 AM

From the very start ask your bounty manager if the rules are already firm and final.

But the sad thing is before you are going to ask them, you'll see one rule that allowed them to change any rule as they wish.

you are right, some even changed regulations at the end of the campaign, which previously did not require KYC. they ask all participants to send their identity at the end of the prize campaign. otherwise the participants will not be able receive their prizes. in my opinion it's very ridiculous. .
they are clearly unprofessional Tongue

Mianae

member

Activity: 798

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Quote from: sekop on December 25, 2018, 09:50:23 AM

Every bounty that implements the KYC system does not mean that their bounties are a scam. KYC is applied to minimize the possibility of fraud that can be done by the participants. For those of you who want to join the bounties with KYC, as much as possible make sure the bounties are truly safe and promising for their future. So that the results of bounties can still produce decent value for the future.

It prote ts fraudulent activities and also enables only eligible participants to participate in the campaign. Some countries restricts its citizens from taking part in crypto, KYC helps projects especially those who are government complaints to be faithful to the law guiding them.

cupruri

copper member

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I think it is not a problem to undergo the KYC process for every honest bounty hunter. If such a process causes problems, maybe you have cheated or used multi accounts to get more rewards in a bounty programme? Wink

engesi

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Fast, Smart, Trustworthy

Not all KYC projects have no value. I have participated in the tokens already listed and passed the KYC airdrop. Rewards are allocated on time.

EducoinVietnam

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Quote from: Dacosta Osei-Tutu on October 13, 2018, 06:52:04 AM

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.

Always hated the companies that only end up saying bounty hunters have to go through KYC. I think or early warning of it or not enter it at all. What injustice? I hate this KYC.

Maknae09

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Ternion | Hybrid Crypto Exchange with fiat gateway

Quote from: Dacosta Osei-Tutu on October 13, 2018, 06:52:04 AM

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.

It is really appropriate to do some KYC to those who invest too much in a project or primarily all the investors, but bounty hunting is not comparable to the word "Customer", we are helping them to succeed, we are not customer, they should understand that.

luthvie

jr. member

Activity: 381

Merit: 1

agree with you, if some bounty program give the rule, that the bounty participant must did KYC, they must announce that from the start, not at the end of bounty program.

manfredmann

member

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Likewise bounty hunters usually cheat by joining one projects for more than 2 accounts so that they can gain more when rewards will be distributed. The sad thing is that other bounty hunters that are diligent working on promoting the project but are only having a single account would relatively deprived to have a small rewards than the cheater bounty hunters. SO, a KYC might give them a good lesson for it not to join two or more accounts in a single project.

Mianae

member

Activity: 798

Merit: 14

I don't think so. KYC is to prove participants are real and not just some random guys abusing the said campaign from time to time with multiple accounts. Although one can't tell what their KYC details are used for, but it's good to an extent.

Spaffin

full member

Activity: 1316

Merit: 108

Quote from: Dacosta Osei-Tutu on October 13, 2018, 06:52:04 AM

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.

You are absolutely right. Headhunters are not clients of the ICO team because they do not invest in these projects. Using KYC checks for other purposes is arbitrariness, misuse of the ICO team. Moreover, each of us must have the right to choose to participate in the KYC verification or not. Not everyone can pass the KYC test. For example, I cannot provide documents confirming my residence at the place of registration, because I live in another place. Such circumstances may be many. If the KYC check is carried out at the end of the ICO or after its completion, it turns out that I will work for many months, and in the end I will not be paid anything. This is actually a scam.

nlaara12

member

Activity: 238

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To me KYC has it advantage,it can help to reduce the level of scam we are having,though it may be stressful but not too bad.

Screamshot

jr. member

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FUTURE OF SECURITY TOKENS

Kyc know your customer is certainly not a way to cheat or elude bounty hunters from there earnings rather it's to protect them and the project from individuals that are not allowed. yes some Kyc process can be frustrating but it's still a good idea

Hudora

member

Activity: 378

Merit: 10

This is one of the best things invented not only for the company, but also to regulate the number of scams that register multiple accounts in one company. Look for all its advantages.

sekop

member

Activity: 378

Merit: 10

Every bounty that implements the KYC system does not mean that their bounties are a scam. KYC is applied to minimize the possibility of fraud that can be done by the participants. For those of you who want to join the bounties with KYC, as much as possible make sure the bounties are truly safe and promising for their future. So that the results of bounties can still produce decent value for the future.

bright4mech

member

Activity: 588

Merit: 18

Many bounty campaign project has been not paid to many participate because of kyc, which is simply name as Know You're Customer, where bounty hunter are not buying, but working for them as a part time, hence kyc form should be on the rules and regulations, before participating on the project.

EXtremeAEX

hero member

Activity: 798

Merit: 503

In essence, such campaigns leave a loophole, thanks to which, they can weed out some of the participants to who they are not willing to pay. After all, if it was a matter of honesty, then really the participants would have to go through the KYC before becoming a participant in the campaign. On the other hand, in this case, if the project at some point renounces its obligations to pay the bounty participants (and we know that its happens), they will have the personal data of the participants, which may cause a wave of indignation. But in this case too, the project simply wants to protect itself.
It turns out that from time to time all the bounty participants have a deal with unscrupulous projects. This factor just needs to be taken into account, because really we can't change anything.

aprilnot

full member

Activity: 1204

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Maybe yes. but for projects that have notified KYC in advance, I don't think it's fraud. if they tell the first time making bounty campaign will not be a problem for the participants. the problem here is that the project team notifies information about kyc after their ico is finished.

likit123

jr. member

Activity: 434

Merit: 1

The KYC procedure scares bounty hunters. I do not want to open my data in front of little-known people. For investors, perhaps this procedure is necessary to avoid fraud.

Topic: KYC is simply just to cheat bounty hunters. - page 25. (Read 79998 times)