Topic: KYC is simply just to cheat bounty hunters. - page 26. (Read 79998 times)
I do not think that this process was created to cheat all the hunters. I think it was created to protect honest bounty hunters from scammers that are using multi accounts to get more rewards. Every ICO and bounty programme should have a KYC process integrated.
So make sure can be done your KYC or no then join bounty some users even dont try it afther joining but wait and try do it before distripution of tokens and then start to cry.
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 don't understand why people are so bad about KYC. Quite a useful thing, proving the seriousness of the company and helping to remove bots from the company. I always pass it if the company and payments suit me.
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.
Thats really the sad part of every bounty, they can easily change the rules to what they want but for me there is no problem on KYC because its the companies like if you dont like their rules at first then you can easily ignore it.
I usually not joining with the bounty campaigns that want KYC. Because I can't trust new projects because of the scam projects in the market. However, some country-based projects, unfortunately, even for bounty campaigns have to ask for KYC. Because they have to report even the smallest payments. So, although I don't join, I can't criticize some KYC-seeking bounty campaigns.
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 never understood why the workers ( bounty hunters) to pass identification. We are not investors, but simply perform services to promote the company, no more. How can we be affected by laws?
At the moment, most of the bounty companies, participating in which it is necessary to pass the KYC, are good. It all depends on how you choose ICO. Fraudsters can be determined, it is impossible to understand whether the project can survive. I think that in the future the passage of KYC will be mandatory for each bounty company.
Not exactly the case, OP!
From regulatory perspective every beneficiary of a token from the token issuance should be verified. It is in the grey whether bounty hunters should go through KYC, and the ICO teams prefer to play it safe and require it just in case.
I agree, that whether KYC will be required from bounty hunters should be annouced prior to starting the bounty campaign, though.
From regulatory perspective every beneficiary of a token from the token issuance should be verified. It is in the grey whether bounty hunters should go through KYC, and the ICO teams prefer to play it safe and require it just in case.
I agree, that whether KYC will be required from bounty hunters should be annouced prior to starting the bounty campaign, though.
This is becoming rampant this days especially in many ico that lucky to reach above softcap. one they see that amount allocated for bounty is huge then they may change their bounty rules in order to deprive some people their token that is being earn during campaign. I am not against KYC but when it was suddenly make compulsory for bounty hunters is what i dont like
After a few months, a bounty campaign was carried out and the project was completed. But at the end of the project, Bounty participants were asked to do KYC and this naturally disappointed me. This KYC must be notified at the beginning of the campaign so we also prepare what is needed for KYC. However, there are many parties who are hard to believe because we are afraid that this KYC will only be used for fraud.
When I read this post, my first instinct was to laugh but then I decided to look at it from another perspective and I saw what you mean, there are crooked projects owners out there but you have to consider that not all of them are crooked.
I ma a bounty hunter and I do not believe that KYC is invented the o cheat bounty hunters sometimes it's about regulation but other times, it's to get rid of cheaters, I noticed that bounties with KYC tend to attract a lesser number of cheaters.
No. KYC is thus requirements, which impose regulatory bodies to projects , to collect money with the help of ICO. It's normal situation.
While KYC is giving some bounty hunters headache to get approval of their KYC requirements, it's also giving some SCAM ICOs opportunities to earn profit out from submitted IDs from bounty participants as they are selling the information to other entities. The only thing that i really like about KYC is that it avoids abusive bounty hunters enrolling multiple accounts in a campaign.
KYC has 2 goals:1. Bringing several account users into a difficult situation. (This can also be done with the neighbor's ID. That is why I do not think it works so well.)
2. Finding ones from restricted countries. (But I can say it worked very well for that. Even if you use a VPN, it is impossible to change ID.)
While KYC is giving some bounty hunters headache to get approval of their KYC requirements, it's also giving some SCAM ICOs opportunities to earn profit out from submitted IDs from bounty participants as they are selling the information to other entities. The only thing that i really like about KYC is that it avoids abusive bounty hunters enrolling multiple accounts in a campaign.
I believe it is only required for the investors, especially big investors. But if the team decides to include the bounty hunter for this requirement, then you have no choice but to cooperate. Always ask the bounty manager for any possible kyc requirements before joining on their bounty campaign.
KYC is probably fine to fill if the project you have joined is legit. KYC is also good for minimizing the number of cheaters who joined the ICO or bounty. But, remember never filled the KYC on AIRDROPS. Airdrops at this time only worth for penny...
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 hate doing KYC too. It kind of defeat the purpose of being in the cryptocurrency world when you have to hand over your details just like that. And yes youre right most specially for bounty hunters. I find it easy to submit and get approved though. but yeah it's hard to trust them with those important details of your identity. We'll just pray and hope that they don't use those for illegal purposes.
In most cases of course when introduced by accident it is sad and of course most hunters do not pass , and if at the beginning it was known that there was a kyc it is for the better I can say)
yes, I am with you. I think completely the same. In my opinion KYC request is not make any sense right now
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