KYC is simply just to cheat bounty hunters. - page 43.

MilaNOV

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Quote from: hanxinvwang on November 09, 2018, 12:19:22 AM

Not all KYC projects are scams. I have seen many projects that are already on the market still using KYC for airdrops, which is worth our completion!

Completely agree with you. Not every project require the passing KYC procedure only for using for something else your data. Lots of good enough projects nowadays require KYC and there is nothing bad in it. But of course there are scammers, lots of them, so just it is better to be more attentive.

slaman29

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Sounds pretty obvious to me the OP tried to game the system and was stopped in his tracks due to KYC.

I will say though, that projects that allowed people to participate in bounties or even ICOs, and then only later on asked for KYC to pay out tokens, now those are scammy behavior. Think a lot of tokens did that in the past few months, so some hunters were left with nothing because they couldn't or weren't willing to KYC - but at the same time I suspected most who didn't were scammers themselves anyway.

This shit is so tiring. You want to "earn" stuff for "working", deal with it!

manojpatelme

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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.

That I also wonder that why they need KYC. Crypto world is know for the privacy and security of the personnel then why they need KYC?

HighlanderToken

copper member

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I'm twisted on kyc experience, I'd rather not have KYC but I see why some do. I just did my first airdrop on twitter. I was going to stop at 500 max signups or until Jan. 15, not even a week goes by and I got over 900 signups on my form and only 6 people actually filled the airdrop out correctly. Totally fail lol...
Thus only 6 people got airdropped...

No Pain No blood

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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 I agree with you, we are only used to make it difficult for bounty participants. if you really need them to do it at the beginning, not at the end of the campaign, this is obviously fraud. there are even projects that don't say anything until the campaign is finished or they provide information that all participants must do KYC.

coinmaster241

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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.

Precisely you are also a prospective customer who will get the token / coin that you will get on the bounty / airdrop. all users / coin holders are called customers. and all customers / holders are obliged if they are required to pass KYC, but now because of too many scam projects even those who have to go through the KYC process are also not spared from the scam.

cribusen

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Activity: 490

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I do not agree with you, because in my opinion, KYC process is good for bounties, because it helps to identify a lot of scammers, that are trying to trick the bounty manager and to get more rewards that they deserve. I think KYC is a must in every bounty.

miningguru

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Quote from: NewRanger on November 09, 2018, 01:52:36 AM

Quote from: Aponkye1 on November 09, 2018, 01:39:28 AM

Well i don't agree with you on that one at all because if you did participate in the bounty with only one account i don't see the reason why you should forget your details in the performance of KYC. The Know Your Customer process is just to get rid of cheaters who are using multiple accounts in participating in bounties.

since many people cheat bounty campaign and harmed others, bounty manager decided to make new rules about kyc pass.actually i did not need to do if tobe honest in each campaign.

Yes, you are right many companies are asking KYC because some bounty hunters are cheating by using other BTT account in order to get a coin for the work they do. This is the case why most of the bounty managers are asking for KYC.

NewRanger

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Quote from: Aponkye1 on November 09, 2018, 01:39:28 AM

Well i don't agree with you on that one at all because if you did participate in the bounty with only one account i don't see the reason why you should forget your details in the performance of KYC. The Know Your Customer process is just to get rid of cheaters who are using multiple accounts in participating in bounties.

since many people cheat bounty campaign and harmed others, bounty manager decided to make new rules about kyc pass.actually i did not need to do if tobe honest in each campaign.

betece777

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It's true that what you say I think is used as a place to slow down payments that might be fraudulent from the developer if there are laws that can process it maybe this won't happen a lot from the bonty hanters who have given energy to the developer but they sometimes don't pay hopefully there are laws that can ensnare developers who cheat

Aponkye1

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Well i don't agree with you on that one at all because if you did participate in the bounty with only one account i don't see the reason why you should forget your details in the performance of KYC. The Know Your Customer process is just to get rid of cheaters who are using multiple accounts in participating in bounties.

Jadesola

member

Activity: 280

Merit: 11

Asking bounty hunters to pass KYC is not a bad idea,but the idea of not informing them at the begining of the campaign until the end of the campaign is totally bad,though many bounty hunters do cheat,if we don't want any bounty hunter to cheat,why not introduce at the begining of the campaign.I think credible bounty manager should look into that.

coin-investor

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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.

I agree with you this is what's wrong with this fraud ICO they just want to cheat bounty hunters I even encounter one ICO that changes their rules in the middle of the game i was part of that I left that campaign knowing that it's a cheat and they don't want to pay their bounty hunters.

ameliana

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Quote from: doroshok1 on November 09, 2018, 01:24:50 AM

I completely agree with you. We don't need to go through KYC at all. And even if for some unknown reason the passage of KYC is really necessary, we have to go through it at the beginning.

but currently there are many projects that use KYC to get their tokens. I think if the ICO is clear and the team is clear then it doesn't matter if it gives KYC as long as the token looks potentially. but indeed we have to be careful because some projects only use KYC to cheat.

KryptoKnight78

newbie

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My brother is a bounty hunter, I am so pity with him the time he needs to claim the token , but the ICO requires them to pass the KYC. Apply for passport is so difficult in our country.

doroshok1

jr. member

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I completely agree with you. We don't need to go through KYC at all. And even if for some unknown reason the passage of KYC is really necessary, we have to go through it at the beginning.

Fluxtorrence9

member

Activity: 336

Merit: 12

It has become an habit of the bounty managers ,you asked them if kyc is a must and they answered 'kyc is not needed ' after the end of ICO sale they tend to change there rules ,its simple called cheating, this is why I don't like campaigns that ask for kyc and moreover KYC is risky ,giving out details God knows what they can use that to do.

DeKingCrypto

full member

Activity: 518

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I think is to catch cheaters and scammer and also it can be used to cheat the bounty hunters, especially if the KYC rule is not applied from the beginning of the bounty, it should be called a technique to cheat the hunters.

puremage111

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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.

Anyhow, it is in a grey area
First of all, the reason why some companies insist of requesting KYC from bounty hunters because they wanted to make sure that 100% of their token allocation are allocated to people who are genuine and legit

Although i am slightly against of it because it is risky for the bounty hunter, and not that necessary for the company (It depends on the regulations)
But if one company wanted to have a safe state from their company, it is better to follow and provide KYC in the case that the company is genuine and legit
You don't wanted to give your KYC to some random people who uses your KYC and went off for frauds

nitin8263

copper member

Activity: 1568

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Yes I am with you KYc is so important because most of people make lot of fake Id and get get much money so when the KYC will take from any one then they can't make the fake Id and we will save from the cheaters.

Topic: KYC is simply just to cheat bounty hunters. - page 43. (Read 79959 times)