KYC SHOULD BE STOPPED FOR BOUNTY HUNTERS - page 19.

Skyshark

full member

Activity: 505

Merit: 100

Quote from: Sebas.tian on February 01, 2019, 07:49:04 AM

Unfortunately, there are some ICOs that require them by law to execute KYC for bounty participants so the latter has no choice but to obey to get their reward.

You were so right. I've encountered some ICO's that posted the need of KYC at the very start of their campaigns. They leave the decision to us if we're willing to participate or not. So really there was no room for resentment or grievances for would be investors and bounty hunters in the end.

martina14

full member

Activity: 1190

Merit: 111

BITCOIN and cryptocurrency was created to be unknown and have a freedom in making a profit
this was designed for people and their freedom to have it. KYC must not be implemented! there is no room for that!

Spaffin

full member

Activity: 1316

Merit: 108

Quote from: Favouredhart on February 01, 2019, 07:02:32 AM

What is KYC? It means knowing your customer. In KYC some requirements are required such as: Full Name, Residence address, Citizenship, Birth date, Photo of government issued ID (Driver’s License, Passport, ID card),
Social Security number or Tax Identification, Bank Statement, Utility Bill, Photo of bank card .

I honestly think kyc should be stopped for bounty hunters, reason being that we are not buying the token of the project ,rather we are rendering services to create awareness for the project. Which ought to be paid for.

In another view, if a bounty hunter has to go through KYC ,then it should be at the start of the bounty, during registration, if accepted or passed, then you go on with the bounty.

I did a bounty which i passed, and earned some amount of the token, but i failed kyc and my effort was gone just like that, after rendering my services to them by promoting the project. I got really pained.

This is just an example of what is happening.

What do you all really think about kyc for bounty hunters?

I completely agree with your reasoning. Bounty hunters cannot be considered clients of ICO projects, since we do not invest our own money in them. It should not be forgotten that the main task of KYC verification is prevention in the laundering of dirty money and countering the financing of terrorism. From this it follows that only investors must pass the KYC check. However, there should be a minimum amount for them, below which investors should pass this test.

izzy13

jr. member

Activity: 225

Merit: 1

Quote from: Favouredhart on February 01, 2019, 07:02:32 AM

What is KYC? It means knowing your customer. In KYC some requirements are required such as: Full Name, Residence address, Citizenship, Birth date, Photo of government issued ID (Driver’s License, Passport, ID card),
Social Security number or Tax Identification, Bank Statement, Utility Bill, Photo of bank card .

I honestly think kyc should be stopped for bounty hunters, reason being that we are not buying the token of the project ,rather we are rendering services to create awareness for the project. Which ought to be paid for.

In another view, if a bounty hunter has to go through KYC ,then it should be at the start of the bounty, during registration, if accepted or passed, then you go on with the bounty.

I did a bounty which i passed, and earned some amount of the token, but i failed kyc and my effort was gone just like that, after rendering my services to them by promoting the project. I got really pained.

This is just an example of what is happening.

What do you all really think about kyc for bounty hunters?

Very agree with this. Besides, I don't think KYC is effective enough to decreasing spams or multiaccounts. And it is quite disturbing people like me who play honestly with one single account.

LogitechMouse

legendary

Activity: 2576

Merit: 1043

Need a Marketing Manager? |Telegram ID- @LT_Mouse

Even though we say that we must stop those bounty hunters to share their personal information, they need to do it because they want to get their rewards. Its a bad choice for the ICO's to recommend KYC for bounty hunters. Most of the ICO's now are becoming a scam and one more, you are risking your personal information. They can sell your information in the black market at a cheap price. Yes this prevents the ICO from being cheated but your personal information is more important compare to the tokens you will get when you pass KYC.

dragonomoy

copper member

Activity: 68

Merit: 0

I agree with you that it is very dangerous to give our identity to a company that has even emerged and we should not believe it that easily.
KYC shouldn't be done because it doesn't affect anything.

yrrehc16

full member

Activity: 532

Merit: 101

This must be stop as i get some threat on doing KYC.
There is a certain bounty which delayed the payment for 3 month more.
Then we received the tokens which has a contract of 10% per month though i decided to try to send it all and it sent there.
sold them all as i need money and then the CEO PMed me about my KYC to be unleash to the public and my account will be forbidden. is that right>
well i replied and said go on if you want to drain all you have now. as i know law and i can sue them.

PlusOne88

member

Activity: 420

Merit: 10

“Tackling Climate Change Using Blockchain”

Agreeable as the weight of disclosing your personality is not even proportional to the advantage that we get out of it. We could received only a very small amount more often and if our records are used to fake some documents or used for fraudulent activities we could be in jail for things we never knew of so easily. So I would stand against it as well.

siena23

jr. member

Activity: 2520

Merit: 1

I think KYC also needs to be done to prevent many cheaters. I think you might be wrong with the procedure, so your KYC is rejected. I once met a project that said that at the beginning it did not require KYC, then when it was over, the team said it was necessary to be KYC, this in my opinion must be corrected.

anume123

full member

Activity: 700

Merit: 100

Proof-of-Stake Blockchain Network

I think that bounty hunters not also need to fill up an Kyc because they are not a investors to bought some tokens and they are only as a promoter of a project or ico. But in investors it's normal to make a kyc for knowing who buys on their tokens.

gowobonyok

jr. member

Activity: 490

Merit: 2

actually this would be bad for those who like multiple accounts. but I agree more if the Kyc process is easier, and does not exclude certain countries, meaning it's open to all. so far I have not been satisfied with the process of cyc which is sometimes difficult to pass.

malekbaba

legendary

Activity: 1526

Merit: 1026

Quote from: Bugatti73 on February 10, 2019, 09:05:53 AM

I think it would be better to apply KYC process for creators and project team!

KYC means Know Your Customer. So it is clearly applicable for user not the person who is the owner. But I think there should be some regulatory framework and owner must have to follow that framework. We need something that ensure security to the project and security to our investment as well

Bugatti73

member

Activity: 616

Merit: 10

I think it would be better to apply KYC process for creators and project team!

kakawin

full member

Activity: 308

Merit: 100

KYC does one very bad thing. This makes bounty hunters lose faith in the project, which means that the project is losing the community. It seems to me that the community is important for the project.

styca

sr. member

Activity: 1078

Merit: 354

We can't really have any influence over whether a new project wants to implement KYC or not. If it's a genuine project, then they will have taken legal advice and decided that KYC is a requirement. Their options would be either use KYC or else cancel the ICO. I don't think there is any choice if they want to proceed with the ICO. The worst cases are those where they only realise partway through that they need KYC, which ends up with them only mentioning it during or - at worst - after the bounty campaign has finished.
I think KYC will become more and more a requirement, and there is nothing we can do to prevent that happening.

dutechman

jr. member

Activity: 199

Merit: 1

Sincerely, KYC is not that so important for the bounty hunters. I see investors as most concerned here. Considering the volume of a particular token an hunter is holding, KYC is not necessary. However, I think because of the greedy act of some hunters for multiple accounts, that's why some projects are making this compulsory for all hunters. But I want to recommend that if at all KYC will be for the hunters, it should be based on the volume each hunter is holding.

alberdina

member

Activity: 644

Merit: 10

So far, KYC has become a very alarming problem. This KYC depends on ICO project management policies. As a bounty hunter, I personally agree if this is stopped. I have a bad experience with KYC. I worked for almost 3-4 months for the Bounty project. And when the project is finished, participants are asked to KYC. After receiving the token and until now the project has no price. Teams and Developers are no longer active.

Vektrum

member

Activity: 420

Merit: 14

Quote from: adzino on February 08, 2019, 02:28:09 PM

I know it is frustrating, but then you will miss the chance to join the bounty program if you do not go through the KYC process. Most of the developers do it with honest intention. They do it just to make sure their program is not being abused by miscreants. But yeah, you are right. They should do it at the very beginning instead of doing it at the middle of campaign and disqualify users.

What kind of intruders are you talking about when discussing whether it is necessary or harmful to conduct a KYC inspection against bounty hunters? We definitely should not undergo any KYC checks, because we are not investors, especially large investors who can launder dirty money. What are the honest intentions of the ICO teams, which a lot in 80 percent of cases turn out to be fraudsters and now the data on our KYC checks are freely bought on the Internet? Here they are trying to make the prices for cryptocurrency soar to the moon. However, you are probably just out of there, because you have no idea about the real picture of the circumstances of the KYC inspection against bounty hunters.

MarineChainOfficial

newbie

Activity: 4

Merit: 0

AGREED TO HAVE KYC ON BOUNTY HUNTERS

Saisher

full member

Activity: 2324

Merit: 175

It's one way to cheat bounty hunters, another one is changing rules there is n KYC from the start then they will implement it before the campaign ends and almost half of the bounty hunters will not pass KYC and the stakes for them will go to the developers again.

Topic: KYC SHOULD BE STOPPED FOR BOUNTY HUNTERS - page 19. (Read 56031 times)