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Topic: KYC should be for big whales - page 6. (Read 25305 times)

full member
Activity: 1190
Merit: 212
★Bitvest.io★ Play Plinko or Invest!
February 17, 2019, 12:14:12 PM
I'm agree with you. But in many cases it's because regulation requirements. I'm have notice more than before lot of projects asking for KYC. So we have to get used to it.
if KYC is only for big whales it can be a threat to investors because their identity data is known by others and their wealth is known by others that will make them the target of crime because identity can be spread and made for crime.
member
Activity: 633
Merit: 11
February 17, 2019, 12:04:55 PM
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
I think also that. Additional to known their personal info obviously and where they can get their big amount of money. So also they can prevent the money makers that wanted to enter on this project so that why KYC is guaranteed to all.
member
Activity: 644
Merit: 10
February 17, 2019, 11:58:37 AM
I'm agree with you. But in many cases it's because regulation requirements. I'm have notice more than before lot of projects asking for KYC. So we have to get used to it.
full member
Activity: 602
Merit: 101
February 17, 2019, 11:48:29 AM
Of course, I would like to say that this is fair, but I will not say it, because you can put yourself in the shoes of these people and you can understand why they are hiding and why they cannot be verified completely.
jr. member
Activity: 490
Merit: 2
February 15, 2019, 08:01:33 PM
yes, I agree a little, because in my opinion for participants who only get a small number of tokens, they don't need to. because they only get a few percent of the total supply of tokens.
copper member
Activity: 234
Merit: 0
February 13, 2019, 05:02:42 AM
From my own point of view, I see no reason why KYC should come into blockchain. If possible, let it be scrapped. Most bounty will not make their intentions known concerning KYC from the start of the bounty but until the end of the whole bounty whereas many bounty hunters might not be able to meet up with some KYC requirements.
I feel something should be done about this as a matter of urgency.
member
Activity: 574
Merit: 10
February 13, 2019, 03:52:13 AM
Rules are made for reasons of course. About KYC for bounty hunters and airdrops participants, it is enforced because of the regulation of the ICO. The other reason is to prevent the frauds of multiple account participants.
Regarding to big investors KYC, it is already implemented. And I think a necessity, given that one of the purposes is to prevent money laundry activities and other possible abuse.
 
member
Activity: 481
Merit: 11
February 12, 2019, 11:14:40 PM
I think that the difference is not big you are the holder of the amount of money or small , I think all participants must pass kyc for ico as it can reduce the chances of Scam !
even with filling the cyclic does not guarantee that everyone is free from scam. whether the project is cheating or from the ico participants who can scam. both have the same possibilities.
full member
Activity: 518
Merit: 111
Dota2
February 12, 2019, 11:12:00 PM
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 honestly can't believe that most people are saying that KYC should only be for bigs whales, wether a ICO does KYC depends on the country in which it is incorporated in!!!

and most likely if KYC is required in a country only wealthy investors are able to invest in thus project. so for all those arguing that it should only be for big whales you aren't technically supposed to be participating in the project if they do KYC still again this mostly depends on the country in which the project is incorporated and which countries they restrict from participating.


Research you laws, wow.

Excellent point of idea. Also, I see KYC as a security measurement to protect not only the project but also those important customers/investors as their history of transaction.
Its better to let KYC be required to those bounty campaign participant, to avoid multiple accounts ( bounty farming ) and bounty scammers around this website.
jr. member
Activity: 350
Merit: 1
February 12, 2019, 10:14:46 PM
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 that the difference is not big you are the holder of the amount of money or small , I think all participants must pass kyc for ico as it can reduce the chances of Scam !
member
Activity: 243
Merit: 18
February 12, 2019, 09:06:41 PM
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 honestly can't believe that most people are saying that KYC should only be for bigs whales, wether a ICO does KYC depends on the country in which it is incorporated in!!!

and most likely if KYC is required in a country only wealthy investors are able to invest in thus project. so for all those arguing that it should only be for big whales you aren't technically supposed to be participating in the project if they do KYC still again this mostly depends on the country in which the project is incorporated and which countries they restrict from participating.


Research you laws, wow.
full member
Activity: 518
Merit: 111
Dota2
February 12, 2019, 07:52:04 PM
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

Yes,you are so right i agreed with you.......KYC  should be meant for those who want to buy large amount of token via exchange .

What is the difference between small amount and large amount buyer of token? In the first place, they both buy and invest money on that specific project. Crypto currency became famous because of being anonymous of sender and receiver, so better to stop KYC and protect the identity of all the users around the world.
copper member
Activity: 351
Merit: 1
February 12, 2019, 07:38:46 PM
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

Yes,you are so right i agreed with you.......KYC  should be meant for those who want to buy large amount of token via exchange .
full member
Activity: 700
Merit: 100
Sovryn - 300-500% APY on USDT Deposit
February 12, 2019, 07:26:50 PM
I agree. For a bounty hunter, it's unnecessary. only troubles us. it doesn't matter if you just submit your identity card. but, we are obliged to submit the bill and a photo of ourselves. we only get coins based on our work. moreover what we get is not much. but they actually make it difficult for us.
Yes, I strongly agree with you, I do not agree with KYC regulations for Bounty participants, because honestly I am very afraid of my personal data being used for bad things by them, because we know our free data is given to others only for a few Tokens.
I also do not agree with the existence of KYC on bounty hunters, indeed the security of personal data that we provide
is not guaranteed to be safe so it is very risky to be misused by irresponsible people
full member
Activity: 1316
Merit: 108
February 12, 2019, 04:51:06 PM
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, conducting KYC checks in ICO projects should be used only for those who invest large sums. Only for citizens of the United States and China, whose governments expressly prohibit their citizens from investing in ICO projects, they should be denied investment, regardless of the amount of investment.
With respect to bounty hunters, there should be no KYC verification at all, since they are not investors in ICO projects. Such a KYC check on bounty hunters is illegal and contrary to the very nature of the KYC check, which is conducted to prevent the fight against money laundering.
jr. member
Activity: 510
Merit: 2
February 12, 2019, 04:50:31 PM
Yes, I total agree with you I don't think there should be kyc for both airdrops and bounty campaign.
hero member
Activity: 1778
Merit: 764
www.V.systems
February 12, 2019, 04:09:35 PM
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

More importantly, it is there so gov. agencies can track any "unexpected millionaires" which they were unable to do so with Bitcoin & phase 1 cryptos.
full member
Activity: 1260
Merit: 102
February 12, 2019, 03:05:54 PM
There shouldn't be any KYC. It just goes against the whole theme of cryptocurrencies. Cryptos were made to be fast, anonymous, free of control and easy for the users. With KYC, it becomes another extension of the old banking system.
copper member
Activity: 336
Merit: 3
Cryptoknowmics - World's First Decentralized Media
February 12, 2019, 02:58:39 PM
KYC should be done by every investor and bounty hunter. I can understand that you do not need to make a KYC for a regular airdrop but if you want to share big rewards you need to prove your identity.
jr. member
Activity: 448
Merit: 1
February 12, 2019, 11:41:30 AM
Such events will probably never happen, the whole thing is solely that the so-called whales now probably will not pass the KYC because they will now have a huge impact not only on the cryptocurrency world. These are influential people in our world.
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