KYC is simply just to cheat bounty hunters. - page 35.

knightmairesaint

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Quote from: Maslate on November 16, 2018, 04:20:07 AM

Quote from: Fappanu on November 16, 2018, 04:12:17 AM

Quote from: Dacosta Osei-Tutu on October 13, 2018, 07:52:04 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 agree with what you said, It's better to have KYC for the bounty hunters first, so as not to hassle and speed up the process of awarding rewards for bounty hunters. Because many bounty hunters do not receive their wages for the sudden appearance of KYC at the end of the bounty.

All should be clear at the start of the campaign. If there is KYC or none for bounty hunters.

That's what you called transparency, if the team will do that they will gain respect from the community.
Reputation is very important to the team than the bounty hunters because that will attract money to them and they will gain support from investors,
so they have to understand that and those who break the rules will never survive because bounty hunters are many, they can help you in promoting
your project and they can ruin you as well.

To add some information, i think that KYC is a good thing because it lessens the percentage of people that are entering a campaign having multiple accounts. I think it is a good punishment for people not obeying the rules, it is forbidden to enter multiple accounts in one campaign after all, in order to earn more. In addition to what i have said, KYC also increases the chance of an investor investing in an ICO with regards to security and trust issue.

Mytoken

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Fast, Smart, Trustworthy

I think the main purpose of KYC is to prevent bounty fraudsters, but the bad thing is that the project itself does not provide any guarantee for our hunters!

Maslate

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Quote from: Fappanu on November 16, 2018, 04:12:17 AM

Quote from: Dacosta Osei-Tutu on October 13, 2018, 07:52:04 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 agree with what you said, It's better to have KYC for the bounty hunters first, so as not to hassle and speed up the process of awarding rewards for bounty hunters. Because many bounty hunters do not receive their wages for the sudden appearance of KYC at the end of the bounty.

All should be clear at the start of the campaign. If there is KYC or none for bounty hunters.

That's what you called transparency, if the team will do that they will gain respect from the community.
Reputation is very important to the team than the bounty hunters because that will attract money to them and they will gain support from investors,
so they have to understand that and those who break the rules will never survive because bounty hunters are many, they can help you in promoting
your project and they can ruin you as well.

Fappanu

sr. member

Activity: 1111

Merit: 255

Quote from: Dacosta Osei-Tutu on October 13, 2018, 07:52:04 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 agree with what you said, It's better to have KYC for the bounty hunters first, so as not to hassle and speed up the process of awarding rewards for bounty hunters. Because many bounty hunters do not receive their wages for the sudden appearance of KYC at the end of the bounty.

All should be clear at the start of the campaign. If there is KYC or none for bounty hunters.

GmBoom

jr. member

Activity: 322

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Most cases that will happen, and we can blame the bounty management on that. But make sure that next time, you must be prepare on that. To have a backup plan. Always set your mind that when you join in the bounty campaign next, make sure to prepare the necessary KYC documents in case the bounty manager asks for it.

EZ.Exchange

copper member

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Yeah....KYC is only for investors so that there is a possible paper trail incase illegal funds are embezzled through the token sales.

vigmar

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I don't think that KYC is a sham. Almost all companies have a warning that you need to pass KYC at the end of the campaign. If there wasn’t such a warning, but the KYC is required, then this issue needs to be addressed to the administrators of the project.

powerman24

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I have nothing against KYC procedure as it reduces the scammers and multi accounts and make our work more valuable. Still, I think it should be stated from the start of the campaign and the rules should be clear for everyone. ICOs can decide if they ask for KYC and we can decide to participate in it or not.

aioc

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Quote from: Dacosta Osei-Tutu on October 13, 2018, 07:52:04 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, of course, we all deserve what we worked for, those bounty managers that change the rules are can be considered cheaters, look at the campaign team btcltcdigger they always state in their bounty thread if there is a KYC or not and they are gaining trust because of this.

trahaubab

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That is true, because according statistic more than 20% of bounty hunters reject to pass KYC verification.
20% from 10000 is 2000, that is huge amount in token equivalent that could be millions in future

Nellayar

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Quote from: passwordnow on October 13, 2018, 08:09:08 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.

I agree with your opinion! In all bounty campaigns, bounty managers have the right to change the rules. So, even you will not ask them if there is KYC or not, expect that every campaign may require KYC. However, in my opinion KYC is just a technique for developers or Bounty Managers not to give the tokens in exact date. In fact, many campaigns I joined that ask for KYC at the end. So, I conclude it.

nityans

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Activity: 183

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I fully agree with you, very often unscrupulous bounty companies change their conditions after the completion of the work.
Among bounty hunters, checking the KYC is mostly a negative reaction. This is noticeable between companies where there is no KYC procedure anymore bounty hunters.
I think such changes as KYC, companies are trying to save on rewards, complicating the process of payment of tokens.

saycryptohello

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I absolutely agree with the author of the topic, but unfortunately, we do not set the rules, how can the bounty community change the situation?

bassbity

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Quote from: elcoblast on November 14, 2018, 05:13:06 PM

no, KYC needed for bounty hunter, because when i see in many bounty campaign, many cheater and spammer using another participant identity for cheating the bounty, that's why KYC needed for verification user when they participate in bounty campaign

at least with the need for KYC will reduce spammers for bounty users, and bounty hunters will get big rewards with hard work for months.

elcoblast

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Quote from: chokomenia on November 14, 2018, 05:16:51 PM

You are right, KYC should not be implemented for the bounty hunters, but i think these days bounty company places KYC to fish out some bounty cheaters, so most of the bounty KYC is to fish out cheaters and reward legit hunters.

no i think, this is needed for bounty hunter especially for prevent cheater and spammer in some bounty, because as you can see in reality many spammer using another participant identity for join in bounty, like me one of the victims of spammers

kerzhake

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it seems to me that project developers should then give 100% guarantee that their project will be successful and pay you tokens because otherwise I see no reason to transfer my data

chokomenia

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You are right, KYC should not be implemented for the bounty hunters, but i think these days bounty company places KYC to fish out some bounty cheaters, so most of the bounty KYC is to fish out cheaters and reward legit hunters.

elcoblast

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no, KYC needed for bounty hunter, because when i see in many bounty campaign, many cheater and spammer using another participant identity for cheating the bounty, that's why KYC needed for verification user when they participate in bounty campaign

Ducky1

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Typically, items such as checking KYC, BM prescribes in the rules of the bounty campaign. There are exceptions, but you can always opt out of this check.

jpnl0006

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That is very much effective when they refuse to make the announcement for kyc during the bounty period and also do not make it known to participants even after the bounty program then i consider that to be cheating

Topic: KYC is simply just to cheat bounty hunters. - page 35. (Read 79959 times)