Topic: KYC is simply just to cheat bounty hunters. - page 4. (Read 79997 times)
Thinking that when the kyc comes with bounties it will prevent multiple accounts from being bounty because they are not unfair to other bounty hunters so other bounty hunter likes to have the kick bounty so that avoid deceit.
most bounty hunters reject the existence of this KYC system for a number of reasons such as not as good as their work. I even experienced it when the project was finished and I had done the procedure well but as a result I did not get a prize for not passing the KYC.
For me KYC for BOUNTY hunters is not a problem, because it can reduce cheating by some people who like to cheat in hunting Bounties. Because of the fact that I have found, many people participated in one Bounty campaign. So he got more prizes from other participants, and with the existence of this KYC these people became very angry and did not agree with this regulation. KYC does need now, despite the failure of the Cryptocurrency project, it is a risk that must be borne by each person. Because indeed, Cryptocurrency has a very high risk.
That's what we like, but there are projects that are regulated and therefore they follow the KYC requirement.
If you noticed, there are only few bounty now that does not require KYC, it's because the market is slowly getting regulated, soon it will be fully regulated.
KYC or not actually if a good project of course will still get support from the bounty hunter. I regretted it when I got a lot of bounty participants and they asked for KYC but it turned out to be a SCAM. that is something very sad. and now I think that all bounties have indeed regulated KYC, and hopefully all the projects will be feasible. because their goal is to reduce the number of people who commit cheating in campaigns. If you noticed, there are only few bounty now that does not require KYC, it's because the market is slowly getting regulated, soon it will be fully regulated.
Bounty doesn't really need KYC, if it have to be KYC it should be in the first place when you register not at the end or when you claim your bounty coin. i believe thats gonna help bounty to be more healthy because it prevent cheater and account farmer so that the reward should be given more equally, and it also good for the total pool.
That's what we like, but there are projects that are regulated and therefore they follow the KYC requirement.
If you noticed, there are only few bounty now that does not require KYC, it's because the market is slowly getting regulated, soon it will be fully regulated.
KYC will never eliminate the bot entries and on the other had it is more likely to scare away the honest bounty hunters. There are services available in the dark market, where KYC verification can be hired for as little as $10 (using stolen documents, obviously). What you'll do, in case someone spends $1,000 to do KYC using 100 different accounts? And trust me, the scammers are getting very innovative now.
KYCs have two main purposes: The first one is to screen cheaters, whom use multi accounts to register and cheat. With KYCs, cheaters can not cheat so much accounts, especially with strict KYC requirements. The second one, is to steal IDs for shady things behind the scene, for immediate or later use. Mostly, for later use, because bad guys have to dig deeply with KYCs they collect and find vulnerability of participants with their accounts and try to steal money and other things (if possible) later. They can not do such attacks immediately. 
Well, I don't support the idea that KYC is to cheat bounty hunters. KYC is meant for verification purposes and sometimes hold legal backings for the project. This is to allow the project come out with a correct statistics of their investors and holders of their coin in order to know how best the project has gone. Also, it allows to eliminate the double and bot entries.
KYC will never eliminate the bot entries and on the other had it is more likely to scare away the honest bounty hunters. There are services available in the dark market, where KYC verification can be hired for as little as $10 (using stolen documents, obviously). What you'll do, in case someone spends $1,000 to do KYC using 100 different accounts? And trust me, the scammers are getting very innovative now.
Not all KYCs that bounty hunters must do are fraudulent. For example, on the Bcnex project, all bounty hunters are required to do KYC. Because the procedure must be like that. So, I as a bounty participant will do that. Because I see this project really very real and reliable.
Kyc is just a waste of time,because if you are the bounty hunters you dont need to submit I'ds because you will only promote the project and i hate the projects that needed a kyc because sometimes they can use those I'ds in crimes. so i joined in Dencoin tokens and this project has mo kyc and in the ico is no kyc also so i love this project.
I think conducting kyc on bounty is good in the sense that it will eliminate bot and fake people who want to scam using other bounty participants identity. Well the kyc must be stated on the bounty thread upfront when it started, doing kyc after the bounty is not a problem if it's offered upfront.
You have a good point there, if you will see how KYC will really verify the real identity of a person then it is easy to filter those cheaters who make multiple account then will join the bounty with multiple profit. But in terms of security and identity theft, this is really critical also. I hope we can find a way that will have the benefit of KYC at the same secure our identity.
Well, I don't support the idea that KYC is to cheat bounty hunters. KYC is meant for verification purposes and sometimes hold legal backings for the project. This is to allow the project come out with a correct statistics of their investors and holders of their coin in order to know how best the project has gone. Also, it allows to eliminate the double and bot entries.
I do not think that is simply cheat the bounty hunters if they pass the KYC as i understand the project required KYC is that to avoid multiple account from the bounty hunters and prohibited countries will not able to get their tokens because most of them cheating.
Cheating is very much happening now, which is why it will be good to use KYC but some teams abuse it from KYC that has been given by the people who participated in it.
I do not think that is simply cheat the bounty hunters if they pass the KYC as i understand the project required KYC is that to avoid multiple account from the bounty hunters and prohibited countries will not able to get their tokens because most of them cheating.
That is not the main purpose, it's not a big issue for them if the bounty hunters have a lot of accounts because it's still the same promotion they will get. If that is the regulation and they are required to do that, they should follow, but it should be announce prior to the start of bounty to avoid confusion. If it's done in the middle of after, you should question the credibility of the project or the manager running it.
I do not think that is simply cheat the bounty hunters if they pass the KYC as i understand the project required KYC is that to avoid multiple account from the bounty hunters and prohibited countries will not able to get their tokens because most of them cheating.
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.
The main idea of the KYC procedure is to exclude the participation of fraudsters and multi-accounts. Fraudsters and deceivers are not only among investors, but also among bounty huntersTo 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.
The main idea of the KYC procedure is to exclude the participation of fraudsters and multi-accounts. Fraudsters and deceivers are not only among investors, but also among bounty hunters
Not all kyc are intend to cheat bounty hunters. However it is a way that the ICO project would require so that the participants are capable or legit and not a bot, besides several of the bounty projects indicates through their bounty that they would require kyc upon receiving the rewards, so we have the choice to join or not if the project requires kyc.
I think bounty hunters (We) are also costumers but the difference is that the real investors invested real money but we as a hunters invested time and effort to advertised their projects . So for me we are investors too that need to comply with the regulation as there as nothing to afraid to KYC as long as the projects are legit and we have a nothing to hide as we are not illegal people.
The fact is that currently the bounty participants are still able to fake their data. in fact this is indeed expected to be a solution to the fact that there is still a lot of cheating that can occur even though there is already a Kyc system
You are right. Simply KYC - know your customer. We are a bounty hunter, we are not customers.
Sure thing, that this thing is simple was made to decrease our part, especially in cases when they tell that it time to pass KYC after successful ICO and before it, there was no even a hint about it.
Sure thing, that this thing is simple was made to decrease our part, especially in cases when they tell that it time to pass KYC after successful ICO and before it, there was no even a hint about it.
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