Topic: KYC should be for big whales - page 16. (Read 25360 times)
Am totally with you on this. The most annoying part is that this kyc stuff is not brought up at the beginning of he bounty or airdrop rather, when it comes to distribution time. Not so good.
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 very much agree with you. According to the proponents of KYC, it is meant to combat money laundering. Money laundering is for huge sums of money which only whales can afford. I see no reason why someone buy a token of just $100 worth would be mandated to do KYC. Can someone actually launder a mere $100? I don't think there is any law in any country that would consider it money laundering. - KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ 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 is sometimes dictated by some countries when you start an ico and bountie campaign. The ico devs have no choice but to stick to it. You have to accept it or you have to look for another project. - 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 that ICOs (or it's better to say STOs) should use KYC projects like civic and so on. I hate to give my personal data and docs to everyone I don't even know. Why should I risk with my documents to give someone money? It's a total bullshit.
Large whales are bought from under the table, so you can do verification for them, but this will not particularly affect the outcome of the game.
this is already been implemented on many ICO, not just whale but all the people who invest in an ICO requeired to do KYC check, mostly ICO do that nowadays since there a few country who got their citizens restricted to join in any ICO project.
as for bounty participant it was to prevent people cheating the bounty by creating multiple account to join in 1 bounty campaign. if the project was trusted i think KYC for bounty participant was a good thing to filtered bounty abuser.
as for bounty participant it was to prevent people cheating the bounty by creating multiple account to join in 1 bounty campaign. if the project was trusted i think KYC for bounty participant was a good thing to filtered bounty abuser.
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 am somehow against it as I understand how difficult for a project to filter out some sort of a bounty abusers, well, I guess doing KYC will going to solve the issue of multiple accounts because abusers will be discourage already once they saw that the bounty needs KYC.
I agree with the majority of users, the KYC is necessary for investors without fail, but for bounty hunters I think this process is unacceptable, besides bounty hunters do not get so many tokens, even using multiaccounts, so this procedure only deters good and executive bounty hunters.
Yes, KYC is Know your customer, it can protect the company have not received any black money during their investment, but if I only invest the few amount or join their airdrop or bounties, I think it did not need to pass their KYC.
I think that KYC is not the problem, the problem is the risk that our data will be stolen of used by a scam project.
There's a simple solution for that: using a third part KYC app like CIVIC for example, where ICO can't have physically my KYC documents that are stored in CIVIC app.
There's a simple solution for that: using a third part KYC app like CIVIC for example, where ICO can't have physically my KYC documents that are stored in CIVIC app.
A good joke, which will remain a joke, because it is she who today can really make a difference, but this will happen. You understand that the future today is only for the AI, which very soon will have great opportunities.
I think that you should notice that there are quite a lot of scammers on the cryptocurrency market. Every cryptocurrency user is worried about the safety of his personal data. How many times have it been when even the participants of the Bounty company provide document files, and as a result the company minimizes its activities. Where is the security guarantee?
A good joke, which will remain a joke, because it is she who today can really make a difference, but this will happen. You understand that the future today is only for the AI, which very soon will have great opportunities.
I rarely do KYC for bounty, and never perform KYC for aridrop. The amount I received was too small compared to revealing my information. Many projects are only for the purpose of obtaining user information.
I think that KYC should be integrated in every good ICO, because it is a great way to protect all investors from different type of cheaters. Every single participant should undergo the KYC verification process to be eligible for the projects tokens.
KYC is used for everyone that will be involved in the projects both buying or joining bounty. You know that KYC is not on;y for the bounty hunters.
Exactly, KYC is used for the investors (including whoever or whales) when they are going to purchase the coins in a projects. But, we cannot do KYC process when buying the coins in the exchange.
Exactly, KYC is used for the investors (including whoever or whales) when they are going to purchase the coins in a projects. But, we cannot do KYC process when buying the coins in the exchange.
KYC for big whales? No big whales in ICO I think, lot of smart whales is stay under radar and wait the token to be listed in the exchange, after the listing they will put huge buy order with lower price, whales got more with same price, and for bounty hunter I don't get any prob with it it prevent any kind of cheat so everybody got their part fairly...
I agree with KYC procedure for all bounty campaign participants, it have good effect for all participants to know who use multi account or not, by using KYC will make all people could participated and have big chance to get payment, buy KYC for investor to know where they are is not best option because make all investor are afraid for joining and investing their money at ICO or bitcoin, you will lost your investor next time at ICO investment project.
KYC should be for every investors whether big or small,it all about taking measures, if KYC is for those buying bug alone,then some will decide to be buying small just to avoid KYC.
In all the centralized exchanges, kyc is a must to withdrawal large amounts. But, like you said, i find Kyc nonsense for small numbers like 5, 10 dollars. Especially the kyc demand for bounty hunters is too unnecessary.
Whales will easily bypass those restrictions by having multiple accounts in exchanges. Moreover, need of KYC is more deliberately needed to be implemented only in bounty level not in exchange level. Some exchanges are requiring to clear KYC for deposit and withdraw but that is not the case here because we need to deal against bounty hunters not exactly with whatever happening in exchange.
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