Topic: KYC should be for big whales - page 14. (Read 25305 times)
Yeah i agree with you KYC requirment for bounty is unnecessary. I dont get the point why the bounty hunters should pass KYC. We as bounty hunter not even investor who spend own money to their project. Also there is a chance our KYC denied from the team and cant claim token.
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
I do agree with your idea, as the KYC now for participants or even hunters might not be relevant as they are only holding a small amount of the coins, but at the same time ICO want to safeguard themselves from the checks of authorities so they want KYC for every participants.
I agree with you. Initially, KYC was conceived as identifying an investor who invested a certain amount of money. I do not understand why KYC has spread to bounty hunters? After all, by and large, the hunters do not sign any agreements, they are just at their own risk, distribute advertising about the project.
For quite a long time, I have been participating in ICO projects, and almost all of them require KYC verification. And for this it is not necessary to be a large investor. Often there is a limit of 5 eth, for example, for entry into a project. As for the bounty and airdrops, the team is only trying to limit the number of multi-accounts, nothing more.
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
Agree with you bro, but don't think we can affect this process somehow
Crypto anonymity has became a myth now, hope this won't go too far and we won't be forced to send stool samples to get airdrops in a couple of years
I think KYC is not for big whales only, because i joined a bounty program last time, it needs a kyc even for a small time hunters. I ask my friend about that, and they tell me that KYC is only for big whales, but i objected them because in my bounty program i've joined it requires KYC. So for that it depends upon the bounty manager how it needs a KYC or not.
I think most people who invest over $ 10k are KYC their information. In addition, they will learn about the project really, because the money they invest is a huge amount, ICO investors are now much smarter.
Agreed in that KYC should not be mandatory for small casual investors. It is the whales that move mass amounts of coins and it is these people that need to be verified for AML, small fish have no impact and should be missed out to avoid unnecessary 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
- 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
Large investors who have millions of dollars, can dictate terms to new projects. They can knock out a significant price reduction or refuse to pass through the KYC and so on. And the project developers will most likely do everything to please the large investors.
You and I, like thousands of other small investors, cannot dictate their terms to new projects. Therefore, we are either engaged in investing or not.
There is no doubt that huge investors must pass KYC. But for whan bountyhunters must do it? They just want to deposit their tokens on exchange and sell them there. Also their tokens usually cost a little.
I don't think the KYC can oblige whales in any way. In addition, if we talk about the sale of large amounts of cryptocurrency, it often happens as if from under the table.
It all depends on why this procedure is necessary. If for investors, then according to the laws of many countries, KYC is a necessary procedure and nothing can be done about it. If for bounty hunters, then it is rather nonsense.
KYC should be for every investor , from the guy who invests 100k$ + to the guy who invest the minumum amount because it's not fair for some guys to do KYC and for the others just simply come and buy with 10k accounts with a minumum invest in each of that account ...this will bring a lot of new frauds , scamy projects and so on so your post makes no sense,sorry.
I fully agree with you.
If a limit will be set on some level, let say for example $10k. You don't need to pass KYC verification when you buy less than $10k, what problem would be to buy anonymously up to 10 times for $9.9k ?! The regulation should apply to everyone, otherwise it will lead to further problems.
In general, you should cancel this procedure. And everyone will heal calmly. This will be their personal experience. Or create a single official KYC. Companies and participants are all on an equal footing.
KYC should be for every investor , from the guy who invests 100k$ + to the guy who invest the minumum amount because it's not fair for some guys to do KYC and for the others just simply come and buy with 10k accounts with a minumum invest in each of that account ...this will bring a lot of new frauds , scamy projects and so on so your post makes no sense,sorry.
I still don't know why I hate the so call kyc maybe it is because of all rewards that are supposed to be received and failed due to kyc or my waste effort. I think it should be stopped and be done for some more reasonable purposes and not avoiding to pay
I think KYC for big whales has no influence whatsoever, in my opinion they will continue to do everything that can benefit them.
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
Agree with you bro, but don't think we can affect this process somehow
Crypto anonymity has became a myth now, hope this won't go too far and we won't be forced to send stool samples to get airdrops in a couple of years
I all understand that they themselves have implemented this process to stop the process of investing private money. You must understand this too. Today they want to open access to big money new road.
Yes, I agree that KYC should be implemented only for large investors, because it was mainly conceived to combat money laundering.
Jump to: