Topic: KYC should be for big whales - page 4. (Read 25305 times)
You are right, kyc should be for investors as the name implies, know your customers , but it baffles me to see how bounty hunters are being subjected to doing kyc and the worst part of it is that as a bounty hunter, if you fail the kyc, your effort is gone, because it won't be rewarded for. There should be a limit to this for bounty hunters, sometimes you might ask before you start the bounty, you will be told "No KYC" ,at the end you will be shocked to see kyc form. Kyc should be for investors.
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
Well, you can freely tell your own opinion about KYC from the bounty hunter point of view.
But some companies may need their token holders data for their legality.
Anyway, it is free for the hunters to decide whether they want to participating in KYC bounty campaign or not.
I usually decide to not participating on some KYC-required bounty campaign if i think the rewards is not worth.
Actually major thing for bounty hunter is that some bounty hunters go on fraud by using multiple accounts of social media and want to get more tokens which is totally worst action, so KYC is implemented to avoid such type of worst actions.
In KYC I agree that anyone can do it when they want to withdraw large amounts of funds or invest, because what is feared is the money laundry that occurs because it is indeed very detrimental if it happens
Generally not necessary procedure KYC. From the KYC procedure it follows that the token should only go out at the exchange where there is KYC. And the tokens go on the stock exchanges where they can buy any without Kyc.
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
Well, you can freely tell your own opinion about KYC from the bounty hunter point of view.
But some companies may need their token holders data for their legality.
Anyway, it is free for the hunters to decide whether they want to participating in KYC bounty campaign or not.
I usually decide to not participating on some KYC-required bounty campaign if i think the rewards is not worth.
I fully agree with you, in my opinion KYC should be held only those bounty hunters who have earned a lot of tokens. In most cases, we get tokens that cost $5 - $10 and why in this case it is necessary to pass KYC, I do not understand.
The KYC check is carried out with the aim of preventing dirty money laundering and combating the financing of terrorism. It is for these purposes that it can be conducted; for another purpose, it should not be conducted because it violates our right to privacy of an individual. Therefore, checking KYC for bounty hunters is illegal in general. The ICO teams regarding us are still abusing their rights, taking advantage of the fact that this activity is not yet regulated.Of course, for investors, there is also no point in conducting such a check for absolutely everyone. When buying tokens for small amounts, it makes no sense to pass investors a KYC check.
Some projects have to follow the laws and regulations of their countries so KYC can be needed even for small investors. That is why so ICOs exclude US and some other countries to minimize their regulatory risks.
I agree with that, KYC should be only for big investor just like Binance did it which apply maximum daily withdrawal for unverified account. Not necesary KYC for bounty hunter because the value of the reward is not big, just less than $1000 even many bounty hunter just received reward equivalent $10.
The problem is that big whales are not one person in most cases. Big whales are for example banks, funds, or another financial organisations that are investing money
that belong to individual investors.
that belong to individual investors.
KYC really has a process that destroys your anonymity online. In addition, KYC is a process that puts you and your security in a very dangerous situation today. I think that today there are victims.
KYC is not a guarantee of success of the project, checking with a strong desire can be easily fooled, especially when it comes to whales that have a lot of money and opportunities
KYC really has a process that destroys your anonymity online. In addition, KYC is a process that puts you and your security in a very dangerous situation today. I think that today there are victims.
For the big players there will be no strict rules that they would not be able to get around. Don't kid yourself. The world is ruled by money and who has more, he wins.
We live knowing we are going to die. Why you do not you kill yourself?Yes, KYC should implement to whales and its implementation will certainly reduce manipulation.
For the big players there will be no strict rules that they would not be able to get around. Don't kid yourself. The world is ruled by money and who has more, he wins.
If ICOs regulated by government, KYC should be implemented for anyone, not matter he is a whales or individual investor. I think KYC is good for crypto community because when market growing bigger, cryptocurrency need regulated to avoid from scammers
Yes, I think KYC is for Airdrop is not reasonable. Because most of the projects are giving the 5-10$ worth token to Airdrop participants. KYC is for bounty is okay to me, because many multiple accounts will be washed out by the hard KYC rule. As I know, every project have strict KYC rules for the big investors and a normal KYC for every ICO investor. So, everything seems perfect except Airdrops!
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 what are you saying now is regulated in every platform in the crypto. And I think there's no excepted for the kyc if you buying large amount or small amount in every exchanges or any platform in the crypto. In my opinion much better to have kyc because its avoiding cheating, scamming etc... But of course find the project that trusted that your identity will not expose to anyone when you pass a kyc. - 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
For the big players there will be no strict rules that they would not be able to get around. Don't kid yourself. The world is ruled by money and who has more, he wins.
I also do not agree with KYC which is required for bounty hunters, KYC is know your customers, but bounty hunters are not customers, bounty hunters only promote projects through various media depending on campaigns that are followed and get rewarded
KYC should only be used for large investors, because they are customers, actually KYC is good but not intended for bounty hunters
KYC should only be used for large investors, because they are customers, actually KYC is good but not intended 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
- 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
This might just be a good suggestion. Since kyc is an anti money laundering process initiated by countries to track and checkmate money laundering, maybe it should be required of big investors to monitor their trade status
I don't even see why investors need to go through kyc. They are entrusting their fund to the team of the project and should have valid informations on them not the order way round. I still do not understand the reason for KYC.
Most likely this is really a forced requirement for the development team itself, since the provision of personal data from investors to some extent even aggravates the investment attractiveness of the ico company. But with respect to the participants of the Bounty Company, this is a triple incomprehensible phenomenon, Why they demand KYC from them. Jump to: