I am actually a person who does not like to do KYC, and avoids joining Bounty with KYC,
but the advice you give with the exception of whales like KYC also has a negative impact,
for example whales or investors who buy coins of 10,000 USD or more are required to be KYC,
and when these investors don't like KYC, they don't want to buy coins with a nominal amount of 10,000 USD, this can limit investors from buying lots of coins to avoid KYC,
Topic: KYC should be for big whales - page 11. (Read 25360 times)
To be candid, there are some good and bad aspects of KYC. I understand fully well that since we are talking decentralisation, there should be some level of anonymity, but to protect citizens of some governments, KYC is essential. You have a point, it should be for everyone. For example, if I'm buying below 1 ETH, what's the need to do a KYC since its not a big risk?
I agreed with you, KYC should be big whales and should be standard at least more than $1000 worth coins or tokens,most of ICO are just getting KYC on very little amount of tokens and coins.
seriously, it becomes very annoying when asked to do kyc for an airdrop or bounty that is not worth $20, for crying out loud , kyc should be for big investors not airdrops or bounty hunters. Although a lot of them are scam, creating a way of stealing information from the poor airdroppers and hunters for their selfish purposes.
You may not know how much a coin from the airdrop will cost in the future. But to demand kyc, in any case, for airdrop is terrible. I agree with you for good advising about KYC and it should be only for specific people i mean big investors. And i am sure a lot of project development and exchange owner selling KYC in the dark web. So that i decide only serious project i submit KYC otherwise my identity going to be threaten.
You only need to transfer your passport details when you are sure in the project, and that he will pay money for the work. 
I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
I agree that it is impossible to complicate the kyc process for small investors, because it can damage the market. otherwise, this market will only be for financial institutions.- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
You are very correct. I believe for investors that are investing less than $200 kyc is not really necessary but for institutional investors who are investing hundreds of thousands of dollars into a project that is when kyc is really necessary . Collecting private personal data of thousands of people is bound to make the company subject to some regulatory concerns and also there is no real oversight on how this information is stored so these people are in potential danger of data leak through acts and security breach .
I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
You have a point. It's really annoying to take kyc if you just joind airdrop and bounty to just receive small amount of tokens. Sometimes i think it's unfair but in reality we have nothing to do about it because every project or most of the project requires kyc now. So,we have nothing to do but to follow their rules. - KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
Good idea. Usually, large capitals have a chance of dishonest origin of their money. That is why they need to confirm not only KYC, but also where their money comes from.
I cannot agree with you, because there are enough cheaters, they are trying to invest more than the maximal cap per person. It should be made for each single ICO participant and the same for bounty hunters.
I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
I think this is a requirement if the project wants to get listed on a centralized exchanges like binance that all their token holders should have passed KYC. Yes it should not be mandatory to us being a bounty hunters but we can't do anything on that unless we will not going to join on their bounty. Only those admin and developer has the final decision about KYC. If we want to claim our rewards then we need to follow them. I just hope that they should take care of our data not to get into the dark web. - KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
seriously, it becomes very annoying when asked to do kyc for an airdrop or bounty that is not worth $20, for crying out loud , kyc should be for big investors not airdrops or bounty hunters. Although a lot of them are scam, creating a way of stealing information from the poor airdroppers and hunters for their selfish purposes.
I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
Apparently, if that is the real reason at all then what you are saying should be happening but it is not. The reason they only implement KYC is to eliminate a lot of participants that will failed to pass so they will pay less rewards and they think they did smart but it just only affects the credibility of their team.
I strongly agree with your opinions as KYC is to control money laundering and fraud and the bounty hunters only collect small amount of btc or dollars when it converts to fiat or BTC money, so it must be for big investor not for bounty hunters.
That is right. Because the only purpose of KYC is for the users that are attempting to use fraud on their investment. But for those bounty hunters that are just earning some small coins should be excluded on this.
i think so too, but KYC procedure doesnt really need for investor, it just need for bounty and airdrop participant.
I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
Of course, only large investors in cryptocurrency should pass KYC checks. It makes no sense to collect confidential information about all individuals who invest in cryptocurrency, even small amounts. This test is already reaching the point of absurdity. It seems that it will be introduced everywhere so that fewer people use cryptocurrency. It simply discredits the meaning of cryptocurrency. When using this anonymous currency, we are forced to keep confidential information about ourselves and copies of our documents at every step, which we do not do even when using ordinary currency. Checking KYC to all, without exception, slowly kills cryptocurrency, in any case, very narrows the scope of its practical application. - KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying
Whales will simply not allow this. Although we already know some of the big whales, and you can often find information about them on the Internet, such as Roger Ver. This person today does not hide his condition.
We are talking of whales, they should be many here. They will not allow to comply with KYC as they can simply buy in an exchange, they do not need to invest in ICO.
Playing the price is their game and they make constant money with that, without them,
the price would not be volatile as they are in charge in doing that.
Yes, a KYC check, if it is so necessary, only large investors should pass. Now, with KYC testing, it’s just absurd. At every step and in almost every operation with cryptocurrency, we must leave all the basic information about ourselves. No conventional means of payment requires the provision of as much identification information about its owner as an anonymous cryptocurrency. Everything turned out exactly the opposite. Anonymous cryptocurrency has become the most attached to the confidential data of its owner.
In any case, bounty hunters should not be tested by KYC at all, since they are not investors.
In any case, bounty hunters should not be tested by KYC at all, since they are not investors.
Whales will simply not allow this. Although we already know some of the big whales, and you can often find information about them on the Internet, such as Roger Ver. This person today does not hide his condition.
In my opinion you really had a good idea. But I am also wondering if the big whales would expose their identities and let others know who they are. I certainly think not. In as much as we would like to get anonymous, the more they will be to protect themselves. If required I think they would be making aliases to hide themselves from the public eye. And because it cryptocurrency is business, they would be the VIPs who are treated and given more advantage than regular or small investors.
Jump to: