KYC is simply just to cheat bounty hunters. - page 44.

moneyvolutions.com

copper member

Activity: 97

Merit: 5

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 I agree with you, this is seen clearly when most people fail through the KYC process the reward is not given to other participants (not recalculated) because basically if the participant decrease automatically the reward for each person will be increase but the fact is they only give the same amount but if you complain there is no point even you will be kicked from the Telegram group without clearly reason

Wayan_Pedjeng

sr. member

Activity: 913

Merit: 252

I agree. KYC is just another excuse for not paying the rewards. Do you believe that anyone would be willing to send a scanned copy of his passport to complete strangers, so that he may get a chance to win $10? Sounds quite ridiculous.

hanxinvwang

full member

Activity: 350

Merit: 100

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!

marketone

legendary

Activity: 1302

Merit: 1000

Quote from: warning_btc on November 08, 2018, 10:53:30 PM

No KYC is simply not qualify US and other restricted citizens to receive tokens of the selected project.
Its made for don't have problems with sec

You are right almost all projects are using the KYC procedure to recover the tokens. Even fake project are using KYC and this makes us think negative about those potential project. KYC is mandatory for companies which they will run the business on the legal way.

chipzeru

member

Activity: 686

Merit: 39

Quote from: passwordnow on October 13, 2018, 07:09:08 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.

You're right. I don't like it when the team decided to requires the bounty hunter to pass kyc at the end of campaign but there's nothing we can do as in any of bounty campaign rules, there's always a point where the team is allowed the change the rules and the bounty hunter need to accept that rules before joining the campaign. KYC may reduce the multiaccounts and cheaters but the KYC verification also tend to take longer time than expected to be done. I think proof of authentication is enough to reduce those cheaters.

warning_btc

member

Activity: 378

Merit: 11

Decentralized Digital Billboards

No KYC is simply not qualify US and other restricted citizens to recieve tokens of selected project.
Its made for dont have problems with sec

fileo

member

Activity: 658

Merit: 10

Rangers Protocol

KYC is notbad to those who are in the trusted people who ask it. But it is seriously bad if you submitted your profile Info to unknown and scammer people. There is a tendency that they will use it for their selfish ambition and to scam more. Be careful by submitting KYC. Good luck mate

SimonJones

sr. member

Activity: 485

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.

Yes, even I think it is a way cheating participants. All the verification process should be done before starting the project.

meldrio1

full member

Activity: 1358

Merit: 100

yep it seem they cheat us when they announce KYC for bounty hunters after the campaign, some bounty hunters would not do KYC because it's risky, they should announce KYC in the first place.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

The bounty section is in disarray right now. Somewhere around 70% to 80% of the bounties are not paying and they are giving all sort of silly excuses to deny payment to the hard working bounty hunters. I am tired of pointing this out to the other users. No one seems to care.

DR_Vladislav

jr. member

Activity: 152

Merit: 7

The problem is not the KYC but bounty hunter need to know before they join the campaign if kyc needed or now. So things will be clear to join or not

aeternus

sr. member

Activity: 686

Merit: 250

Quote from: malading on October 31, 2018, 11:13:06 PM

It is very stupid to combine KYC and ICO. In fact, ICO has gone downhill, and it is almost impossible to change. In the future, we will participate in STO, which solves many difficult problems. But bounty hunters may be unemployed.

This is the same that happens with many failed business models, they think that their customers are going to deal with anything they throw at them and for a while they are right until that is no longer true anymore, that is what we're seeing right now with icos, they are realizing too late that people are not going to put up with know your customer policies and their business model could be replaced in the future.

Rati24

full member

Activity: 462

Merit: 103

Yes, in theory, ico projects should write that kyc is recommended at the beginning so that bounty hunters decide whether they need it or not. But in reality everything is not so they write it in the end and many simply do not have time or do not want to go through it and then the tokens are left to themselves. Well, maybe this may affect the price for the better, but the cryptocurrency community no longer has confidence in the project.

malading

member

Activity: 434

Merit: 10

It is very stupid to combine KYC and ICO. In fact, ICO has gone downhill, and it is almost impossible to change. In the future, we will participate in STO, which solves many difficult problems. But bounty hunters may be unemployed.

droptableguy2

member

Activity: 434

Merit: 10

Quote from: TelolettOm on October 31, 2018, 10:04:11 PM

Quote from: kingsman03 on October 31, 2018, 09:59:05 PM

well, some bounties which i have been in and some managers clearly states it that kyc is needed or not. whereas kyc is not only meant for purchasers but for every token holder which are seen as a purchaser in one way or the other

all aspects in ico or bounty are very good if there is a bounty because it will avoid cheating and can also find out data from the user to be able to get clearer information

KYC is a factor that minimizes money launderers, or hidden criminals to fund each other. For bounty hunters, it is hard for KYC to get them, because they get so much. Less revenue from the campaign. They often refuse KYC projects

djuragan

sr. member

Activity: 770

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.

You might be right, cause i know the struggle of doing KYC, i had met a project that asking many kind of data for the KYC, such as ID, and proof of address (in a form of bill).
The last one is harder to get, since i'm still living with my parent, so i don't have that kind of data, all kind of bill still has the name of my parents. So that is really painful, and none the last when i've got the bounty reward, the price of the reward isn't equal with the effort that i done.

electronicash

legendary

Activity: 3178

Merit: 1054

on the second thought it doesnt matter whether the team tells you before or after that they ask the KYC, we really can't do anything as they do have the right to. the team will find a way for their product to be marketed.

santouao

full member

Activity: 560

Merit: 101

#SWGT PRE-SALE IS LIVE

Actually, the KYC purpose is for investora alone. I dont think when this norm began and now even hunters are required to complete it. Maybe the only reason is to screen and filter those cheaters. I think if the bounty manager works well he can make a different solution to identify this kind of problem in a bounty campaign. Cause, conducting KYC is actually sensitive and we dont know that some of our identity already been used for malicious act. That's why I suggest pick a legit bounty cause if your identity falls on the wrong hand youll end up in jail.

glasbren

sr. member

Activity: 658

Merit: 250

I don't really agree with this KYC thing especially for bounty hunter.
People doing the bounty campaign to make some cash with their work, and the reward from the bounty campaign is their right after they done their job.
I think that isn't fair if someone who done their work and asking for their right, but being blocked by that KYC.

TelolettOm

hero member

Activity: 2086

Merit: 553

Leading Crypto Sports Betting & Casino Platform

Quote from: kingsman03 on October 31, 2018, 09:59:05 PM

well, some bounties which i have been in and some managers clearly states it that kyc is needed or not. whereas kyc is not only meant for purchasers but for every token holder which are seen as a purchaser in one way or the other

all aspects in ico or bounty are very good if there is a bounty because it will avoid cheating and can also find out data from the user to be able to get clearer information

Topic: KYC is simply just to cheat bounty hunters. - page 44. (Read 80000 times)