Topic: KYC is simply just to cheat bounty hunters. - page 28. (Read 80004 times)
KYC is not entirely bad and is not intended to deceive bounty hunters, but it is also not a reference for an ICO to be said to be successful because of the existence of KYC. KYC is only a support system for the success of an ICO. Because the process, which may require more effort, will be more equal if the application is put on a truly promising project. So that your efforts also get a satisfying appreciation. Many good ICOs also apply KYC.
KYC is usually determined by the project. If the project parties ask for KYC to participate in their project, of course we must be prepared for this problem. But usually KYC is also needed for bounty hunters to be able to identify fraud in the bounty program.
Many projects start demanding at the end of KYC not to pay hunters. Then you find out that the project will be scam. And your data will merge into the Internet.
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's a kind of a good thing for ICO to KYC bounty hunters. This is to limit the amount of multiple account bearers so that there will be more slots for actual participants and not spammers. This would be the best mechanism to prevent multiple account spammers.
I don't want to give any of my personal data to any of my participated ICO's but still I need to give it to them because they wouldn't give me any of my rewards if I don't follow their rules. And I think it is not really felt good for people like me that we just want to protect also our personal informations that's why I don't agree of having a KYC on any launched projects.
Once again, I am convinced that this procedure is often introduced only to complicate the receipt of awards for bounty hunters. The project may reject your documents, and a copy will remain on their servers. As a result, you will not get anything, but you will lose documents.
Potentially, one little employee can destroy one big company. Ashes starts with a little fire, some says. If that things happen, bounty hunters can report those kind of dirty system. Who knows, if those bounty hunter has a good reputation or alternative account as well. It will be more inconvenient to the project, there's a good and bad karma in this world.
Once again, I am convinced that this procedure is often introduced only to complicate the receipt of awards for bounty hunters. The project may reject your documents, and a copy will remain on their servers. As a result, you will not get anything, but you will lose documents.
I believe that if the KYC procedure was announced at the beginning of the bounty of the company then there is no fraud here. But if you talk about it in the end that is the real attempt to deceive the hunters. On such teams need to complain wherever possible and write about them negative reviews.
They know that they are using it to cheat the bounty hunters out of getting the coins that they are owed but they do not care and they are doing it on purpose. This is why I make sure to never participate in any kind of bounty that requires kyc, I am a bounty hunter not an investor, if I want to invest then I would have no problem doing the bounties
I agree that many project organizers deliberately have the verification procedure for bounty hunters with one sole purpose - in order not to allow them to receive their legitimate reward. This is very sad, because I think that this is an absolutely unnecessary procedure for them, because they are not clients of the project.
in fact, it is. I think that soon everything will change and the cryptocurrency market will begin to regulate
Just adding some point of view, better to ask first on their specific telegram bounty group about the KYC/AML. Because ignorance is no excuse and advance question is more welcome on telegram. For this thing, the misunderstanding and miscommunication will be lessen and the campaign will be more smooth and comfortable.
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 bro, if you can't provide a KYC it's your problem at the first place. You can't provide if you have a lot of accounts and that is the one thing that the project want to prevent. Because some bounty hunters used a lot of alternate accounts ( bounty farming ), sometimes its a group of people. There's always a rule about multiple accounts on the first page of every ( mostly ) bounty campaign.
When you feel this, you must take a note. Before joining the bounty program it is important to ask about KYC or not. If there is no information and when in the middle or at the end of bounty it needs KYC, I also think that it is not fair. But, the bounty manager always has the right to change the rules and regulation. Just follow if it is profitable.
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 have some point in your thread. I am not agree in your part, because in the first place the team will said if the ICO need to pass the KYC. It always pinned on the group chat, and that is not a total cheat because you are reminded to do KYC.
Why you think so, i am many times pass yc on bounties.
Exclude was verasity where they give onetime filling form without option to check problems and resend docs this was real scam
Exclude was verasity where they give onetime filling form without option to check problems and resend docs this was real scam
KYC for bounty campaigns should not be needed too much because they have to give their identity such as a passport or local identity to make your data known to others while such data should not be known by others because it is very important privacy data.
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.
This is one of the big issues of bounty hunting, bounty manager changing directions at the last minute, this is bad and any bounty manager that will do this should be questioned, it's like they do not really want to give their workers their shares when they really deserve those rewards.
Well for me I think KYC for bounties have it's possitive and negative effect,
Possitive because the bounty abuser couldn't abuse it,
Negative effect is what if the bounty is just a scam project and not really worth it for your personal information then they would just sell your identity somewhere.
Possitive because the bounty abuser couldn't abuse it,
Negative effect is what if the bounty is just a scam project and not really worth it for your personal information then they would just sell your identity somewhere.
the thing about this KYC is indeed funny but it has become a habit that's going on. even better is already much bounty that gave a statement at the beginning does need KYC and not. but nevertheless the real function of the KYC for bounty hunter is still in doubt. Bounty Hunter is not the customer and this is not in accordance with what was intended by the system of KYC.
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