Topic: KYC should be for big whales - page 18. (Read 25305 times)
Your point of view does not coincide with my point of view. In my opinion, all participants must pass KYC. You can just make KYC of varying complexity. For example, for small market players to make KYC in a simplified form, and for larger investors, respectively, a more complex version.
I so much agree with you. The KYC may have a lot of advantages but I'm not okay with it. I have always dudged all ICO with KYC. Well I may not have what it takes to be qualified for them yet, but it hinders many people from doing them too. I believe it is used to aithentify the participants and also to reduce scam.
KYC for big investors is already required in every project, even small investors are required to verify KYC but not as complex as big investors, and KYC for bounty is to avoid multiple account fraud
Yes. KYC is everywhere to protect scam and multiplie application. Project Company gets a verified customer (investor) and they know about bounty participants via KYC system. I like these KYC system very much.
What kind of decentralization can we talk about? When already everywhere we have to use passport data. We do not give anything to mine. Perhaps this procedure is needed for large investors, you are right. I see no reason to go through the procedure if you invest the minimum amount of 0.3 ETH.
KYC for big investors is already required in every project, even small investors are required to verify KYC but not as complex as big investors, and KYC for bounty is to avoid multiple account fraud
KYC in bounty is not to find scammers, but in order not to pay coins to bounty hunters, there is a big difference between the companies that introduce KYC at the beginning of the company and the companies that introduce it at the end. 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 ICO or 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 ICO or 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 on bounty hunters is required because a lot of bounty hunters are cheating on bounty campaigns by applying several accounts to get more stakes from the bounty. Bounty hunters can be considered as an investor too, because, instead of getting paid in cash for their work/promotion, they are paid in tokens/coin.
Exactly true, I am fed up with every time I sign up for an airdrop, most of airdrops want KYC or full identification for even a very small airdrop $1 or less, this is really ridiculous to fill KYC for such.
KYC is not for crypto currency, you shouldn't make a choice. I do not understand a little about the KYC concept made, everyone has the right to keep their assets and assets confidential. I believe when crypto currency starts to be known by many people then one of the reasons is anynomous. But now, the new system is present and changes the comfort of the system that you have before, to be honest I don't like it.
I agree that KYC for bounties should not exist but KYC for ICO investors should be necessary for all. If they only ask for KYC after a certain amount then who is to stop one person from buying multiple times under the limit so no KYC is asked?
Big whales won't mind KYC, so it's not a problem for them or a problem by them. It's a problem for small fish who are either scamming or who are from locations that big states don't allow.
Whales who see KYC as a problem already have shell companies and fronts doing all their business for them.
Us fish who have problems with KYC are precisely who KYC wants to stop.
Whales who see KYC as a problem already have shell companies and fronts doing all their business for them.
Us fish who have problems with KYC are precisely who KYC wants to stop.
I think that KYC is reasonable only when fiat money involved in buy/sell/exchange procedure. Because banks require the identification and projects must follow this legal requirement while they cooperate with banks.
But i don't see any reason to implement KYC for crypto only operations, when someone buys/sells tokens or altcoins using other crypto as a money. Doesn't depend from the amount, if it is either big or small. Cryptocurrency has been created as anonymous money, so we should follow this principle while we operate inside of crypto.
But i don't see any reason to implement KYC for crypto only operations, when someone buys/sells tokens or altcoins using other crypto as a money. Doesn't depend from the amount, if it is either big or small. Cryptocurrency has been created as anonymous money, so we should follow this principle while we operate inside of crypto.
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 ICO or 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 ICO or 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
If developers are told that a large investor is ready to buy 50% of the project tokens, then I think they will not require the passage of KYC. It is easier to register an organization in a country in which the cryptocurrency is not an asset and means of payment and there is no responsibility for operations with it.
Each project has different rules about KYC and some of them must be KYC to investors even for bounty participants, I have verified on some ICOs and I am not worried about that
I don't doubt it should be available for everyone but KYC needs to be more relaxed. Depending on the amount of money the information required could be really insane sometimes. If I am trading couple hundred bucks at most than you do not need to know my ID number or require a picture of my face with paper in my hand which is really looking like its entry to some sort of cult and you need to give them a picture so they can blackmail in case you want to leave.
In reality the best you can do is if you want too much information it should be from whales who trade millions every day, if its just couple hundred bucks a day than ask me for my name and all (which anyone can lie if they want) and that is it, why would you want anything more from something that is under 200 dollars anyway, it makes no sense to ask so much for so little.
In reality the best you can do is if you want too much information it should be from whales who trade millions every day, if its just couple hundred bucks a day than ask me for my name and all (which anyone can lie if they want) and that is it, why would you want anything more from something that is under 200 dollars anyway, it makes no sense to ask so much for so little.
It is very correctly stated here, because it is the big whales who are introducing KYC and it is they who come up with the difficulties in order to make the road for large investments; a new wave will probably begin very soon.
I think ico holders should make a kyc before starting an ico.
I didn't see any investor harm anything at all because he doesn't have a kyc but saw lots of ico holders.
I didn't see any investor harm anything at all because he doesn't have a kyc but saw lots of ico holders.
KYC is for every individual, it’s not only specific for big investors. Every crypto exchange provide this function in their service so that they can verify the authentication of the customers.
Benefits of conducting KYC verification:
As I remember before, crytocurrency is famous because of anonymous transaction by anonymous sender and developer. Benefits of conducting KYC verification:
- Confirmation of verified identity
- Approval to initiate your trading at the cryptocurrency exchange
Thats why it became unique world trend, KYC make a glitch and flaws on that factor.
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 ICO or 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 ICO or 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 it's useless to express your dislike for KYC, it's useless. because KYC is now part of the ico project. but I think if there is an airdrop that does KYC you should just ignore it.
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 ICO or 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 ICO or 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 it's useless to express your dislike for KYC, it's useless. because KYC is now part of the ico project. but I think if there is an airdrop that does KYC you should just ignore it.
At some point, KYC verification is useful for some government that wants to regulate cryptocurrencies or for exchanges safety. Nevertheless, KYC verification is contradictory with cryptocurrencies nature.
Bitcoin was built in the spirit of anonymity, and privacy. It solves the trust issues. Sadly, the fact now the majority of the user arent protecting their identity. As an example, there are a lot of people that Joined KYC verification only to participate in a bounty. It is wrong at any level in decentralized cryptocurrencies perspective.
Bitcoin was built in the spirit of anonymity, and privacy. It solves the trust issues. Sadly, the fact now the majority of the user arent protecting their identity. As an example, there are a lot of people that Joined KYC verification only to participate in a bounty. It is wrong at any level in decentralized cryptocurrencies perspective.
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