Topic: KYC is simply just to cheat bounty hunters. - page 49. (Read 79987 times)
This sentiment is totally wrong, the KYCs I see as cheating is the ones that the project would notify hunters about the start of KYC and to make matters worse, they would not start the KYC process at the beginning of the bounty.
I do not see KYC as cheating, infact it helps honest bounty hunters to gain more from bounties because it would help get rid of account farmers who always use multiple accounts to claim everything in bounties.
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 think you are wrong and you are committing fallacy, if you are being paid in fiat or BTC oe any coins not termed security then there is no need for KYC, most people always want to protect their own side but don't want the developers to protect theirs, if it is tokens you are being paid then you must abide by their rules and again most of these bounties that requires KYC always state this before their campaign starts or ends
I agree. KYC should be simple and fast for bounty hunters. Its not like we are investing with a huge money. Bounty hunters are just in for the rewards and they should be paid for their efforts. I hate it when someone didn't receive a payment just because of the delays from KYC or the admin didn't approve it. What will happen to his/her coin? Maybe it is going to someones pocket? Just asking.
Of course, if KYC is announced at the end of the ICO, when the steaks are already counted, the earned tokens of those individuals who for various reasons have not passed the test remain either the ICO team, or even the bounty manager. Therefore, it can be said that the KYC check at the end of the ICO is clearly a fraud, since it was not specified when joining the ICO generosity campaign.
Yeah, it can be very annoying for most bounty hunters . And it is only normal to think projects use that avenue to reduce tokens they are to send to the hunters . But I beleive as a farmer you should have all your tools to prevent story, so i have to have all to receive my reward. No excuses.
I really hate than some of the ICO added an new requirement as KYC after finishing every task about airdrop and bounty. If they inform on airdrop that it will be required KYC because of regulation it can be acceptable from beginning. If you can not be reliable to your project advertiser you will not able to grow well. Because I am both investor and a bounty hunter I always watch how the team how they are dealing about their community.
KYC has been one of the major reason why participation in bounties not attractive to me its more or less cheating hunters at end of the campaign while subjecting them to a mandatory KYC this is absolutely uncalled for and not fair enough a lot of hunters prefers to be anonymous in dealing with external projects.
KYC for bounty hunter i think it it is not so good. Because bounty hunter are not their customer they just promote their product. Some time project owner dose not pay anything to failed KYC. I think that labor should be evaluated.
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.
That's what the actual problem is and I hate this one. Why do you need to implement KYC after we promoting your project? Where were you before starting the bounty. Those bounty managers are also biased. 
I totally agree with your point. If at all an ICO or a project wants KYC for the bounty participants then they should mention it prior to launching the campaign.
Hence only the interested participants would then participate in the bounty program. There are people like me who would not want to submit KYC just because we find it ridiculous and hence we would not participate in any such programs. If the ICOs are announcing KYC process just before the participants receive the payments then they are probably just trying to cheat them with this technique.
I have seen so many ICOs doing the same which is why I have stopped taking part in bounty these days.
Hence only the interested participants would then participate in the bounty program. There are people like me who would not want to submit KYC just because we find it ridiculous and hence we would not participate in any such programs. If the ICOs are announcing KYC process just before the participants receive the payments then they are probably just trying to cheat them with this technique.
I have seen so many ICOs doing the same which is why I have stopped taking part in bounty these days.
Some developers are forced to take this step by their lawyers. In general, the legal side in each country is different. Some people thus try to find out multi accounts. But this does not solve this problem. And what is most interesting is that by entering the KYC procedure, the tokens of those who did not undergo the procedure often do not go to the bounty pool.
Agreed with you, through KYC project team wants to reduce bounty hunter at the time of paying.
Mostly project didn’t ask about KYC at the start of project but at the time of distribution they demand KYC which is not fair, but as we know they have right to change any rule as they want.
Mostly project didn’t ask about KYC at the start of project but at the time of distribution they demand KYC which is not fair, but as we know they have right to change any rule as they want.
There are different rules in every direction - banks, governmental instituions, and the crypto currency world is not the exception. There are some requirements for participants of the ICOs- for example the USA citizens are not allowed to participate and to own lots of tokens, and it is the onliest example, in order to identify the person some projects require from the participants to pass KYC. You may not participate in such kinds of projects. It is your choice. Of course there are lots of scam projects that cheat and collect the data only, but not every project is of such kind.
The projects I joined required KYC and I never had a problem with them. All are good projects, and they do so to ensure fairness for bounty hunters. KYC for bounty I think is really needed, but KYC for airdrop then I think you should stay away from it
I also met with some projects that required to pass the KYC procedure with the mandatory acquisition of their tokens. And also from some projects I did not wait for my reward after passing the KYC procedure.
most projects now use KYC as a condition to get their tokens, whether it is useful or not but we cannot do much if we want the results of our work.as long as KYC doesn't ask strange things, I don't think it's a problem. but I personally can avoid it better to avoid it.
I also met with some projects that required to pass the KYC procedure with the mandatory acquisition of their tokens. And also from some projects I did not wait for my reward after passing the KYC procedure.
most projects now use KYC as a condition to get their tokens, whether it is useful or not but we cannot do much if we want the results of our work.as long as KYC doesn't ask strange things, I don't think it's a problem. but I personally can avoid it better to avoid it.
I am of the opinion that the KYC procedure for bounty hunters is a useless thing. Investors are one thing, but bountists are another thing, they do not sign any contracts and work on their own peril and risk.
If information about the required passage of the KYC procedure occurs during the campaign or long after it is completed, it is very unfair. Bounty hunters are not investors. They receive tokens for a specific job, so KYC should not necessarily be required for them.
Yes if most of the bounty are scams, than that KYC is mostly for stealing their data. But my opinion is that KYC should be asked before releasing coins to bounty hunters and after listing on exchanges. Cheaters with multi acc would lose a lot of time for nothing and not even realise that.
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.
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That is indeed a pain rules that surely giving bad effect on the bounty participant. What ever we are dong we can't really against those kind or rules, what can we do is just simply avoid that project.
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.
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That is indeed a pain rules that surely giving bad effect on the bounty participant. What ever we are dong we can't really against those kind or rules, what can we do is just simply avoid that project.
I agree. KYC should be simple and fast for bounty hunters. Its not like we are investing with a huge money. Bounty hunters are just in for the rewards and they should be paid for their efforts. I hate it when someone didn't receive a payment just because of the delays from KYC or the admin didn't approve it. What will happen to his/her coin? Maybe it is going to someones pocket? Just asking.
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