KYC is simply just to cheat bounty hunters. - page 32.

aeternus

sr. member

Activity: 686

Merit: 250

Quote from: isen on November 16, 2018, 10:46:29 AM

Quote from: InGODweTrast3 on November 16, 2018, 09:24:23 AM

I think the main idea of KYC is to create a base of people who participate in the crypto markets in order to control the market as much as possible.

Are you serious? Huh

The main idea is to identify the fact that you are a real person. Especially on this forum, which is simply teeming with multi-accounts and bots. Look at any bounty before the introduction of Merita for beginners, the lists are simply infested with multi.

That is true but only if the bounty campaign established those policies from the beginning, if they allow anyone to be part of their campaign without going through know your customer policies and then at the end they implemented those policies then it is very clear that something fishy is going on and that they are not doing that to verify the identity of people but to try to avoid paying them.

liansehao

newbie

Activity: 29

Merit: 0

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.

Yes, you're right. KYC means nothing. It is just a tool that scammer use to cheat bounty hunters.

smoker36

full member

Activity: 406

Merit: 100

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.

In General, I am categorically against this procedure. I just don't trust the people who need to give up their personal data. It seems to me that this is too personal and that only official companies should deal with it

chadtn

sr. member

Activity: 672

Merit: 250

If it wasn't absolutely necessary, no one would have done it. Think about how much time and money it takes to collect personal data of investors...

BelovedOfTheGod

member

Activity: 238

Merit: 10

No. This audit serves to maintain security from a legal point of view, for the organization. Do you think the company needs these extra actions?

Janevinex

jr. member

Activity: 210

Merit: 1

Well, for me a lot of projects where they were kyk gave to earn good money , I think it is certainly very difficult to pass the kyc to some , but usually pay very good money then!

Cactushrt

sr. member

Activity: 952

Merit: 250

Quote from: moynul2050 on October 13, 2018, 08:56:52 AM

Quote from: Cactushrt on October 13, 2018, 07:39:36 AM

Well i understand you i also see some projects they will tell kyc will be needed after the bounty ends and bounty hunters of course will not perform kyc.

I began to hesitate to follow the rules, some people said my data was not safe and the company could just sell data like the Facebook case some time ago.
I will choose not to provide my data.

You are right but if you will not provide your data you will lose your tokens earned i can see so many companies requires at the end of ico.

makerst

sr. member

Activity: 728

Merit: 252

It is difficult for me to speak my thoughts on this matter, because I think that most people already understand what the KYC procedures lead to, but I still won’t say, because most people will stop investing and going through KYC

clipto

member

Activity: 311

Merit: 10

Not always, sometimes it helps to detect cheaters that are using multi accounts to trick the bounty manager. But on the other hand it could be pretty dangerous to send your private information to a project hat can turn scam. Be careful and you will be safe.

Goldendragon67

member

Activity: 238

Merit: 10

It's pretty static. This is not intended to deceive bounty hunters, and to ensure their own legal security. It's not interested to project.

GodsChosenVessel

copper member

Activity: 164

Merit: 0

I totally agree with you, kyc has never been in the favor of bounty hunters and I don't think it will ever be. Kyc should be observed by the investors and not the bounty hunters. As a person, I participated in a campaign as a bounty hunter and till today I've not received my reward all because my kyc is not approved, as in I did the kyc but it's not approved.

comforteagle23

member

Activity: 218

Merit: 10

And how to work with crooks? Most bounty hunters try to fool everyone, so why shouldn't the project deceive them? It's correct situation.

fathur01

full member

Activity: 700

Merit: 100

I agree that the KYC procedure is better to take place before the start of participation in the bounty of the company, but on the other hand, if you want to leave the project, then it is better to pass the KYC after the bounty of the company.

brocardinf

member

Activity: 224

Merit: 10

Let's be honest, bounty hunters aren't always conscientious on their own. They can cheat and specify not their main accounts.

serejandmyself

hero member

Activity: 1203

Merit: 508

Manager of looking busy #citizencosmos

I don't see big impact of a kyc for a bounty hunter only he is not from the banned counties and if the hunter is not using multi-accounts.

Serco

sr. member

Activity: 1050

Merit: 250

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.

Your statement is true, but not everything is correct. Because I know KYC for bounty hunter is to avoid multiple accounts that can harm other participants and the project. Of course this cannot be tolerated.

blu.storm

member

Activity: 320

Merit: 17

free space pm if interessed

used in this way at the end of the bounty campaigns to not pay the bounty hunters kyc is pure cheat, if stated from the beginning can be a valid method to know the various investors and collaborators

letyouearn

legendary

Activity: 1722

Merit: 1014

Agree, changing rules after the job's been done - is a very bad move. But this happens all around now.
Bounty hunters have no rights and no voice. And this is no good. Unfortunately I can't even see how to affect this situation. It's like wild west. Huge risks, huge opportunities

Destroyeroff98

full member

Activity: 574

Merit: 102

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.

KYC is a fraud only when it is not warned in advance about it. But in general, now KYC is the norm.

d3nz

sr. member

Activity: 1372

Merit: 264

I don't join campaigns that have KYC required since I know that it will be dump after it gets listed and take advantage of it to buy the ICO price.

KYC is a red flag for me even thou they follow some process in a country.

Topic: KYC is simply just to cheat bounty hunters. - page 32. (Read 79998 times)