Topic: KYC to receive bounty rewards. - page 3. (Read 853 times)
KYC for bounty participants is like restricting the involvement of participants in such project, because personally, i do not like the issue of KYC for bounty participants who have given their all or are about to give there time and other resources, in promoting and supporting the project. KYC should be strictly prohibited for bounty participants.
I am thinking about it, and I agree with KYC - where we say our country and email, and thats all, why more? where is decentralization?
I just passing by in the Bounties(Altcoins) section to find some good project and participate to one of their campaign and there's one campaign I've visited and asking for KYC in order to receive the bounty reward.
Actually I've seen someone asking in the meta section about this topic but I forgot where was it.
Well I will just going to give my opinions about here in the altcoins section because I know most of the participants of the bounty programs are posting here.
KYC (Know Your Customer)
A KYC (Know Your Customer) is used to ensure that the people who're going to invest to a project are qualified for example they have a record about criminality, immigrants, etc. then they will not going to allow you to invest in their project, This was used to review the investor and make sure they credibility of the investor and also KYC is used to fight money laundering.
Now let's go back to the topic. I've seen some bounty programs that's asking for KYC documents in order to receive bounty I don't think it's necessary to ask KYC Documents from the bounty participants because:
1. They don't Invest in the project.
2. There's no need to ask for the credibility of the user for promoting their project.
However I've seen some people are still participating in the bounty program, I just want to know you the risk you're about to face when you submit a KYC document to a untrusted project/program:
• They may use your details to fraud.
• You may be accused for something that you didn't do.
• Identity Theft
• Etc.
Well all in the KYC documents are your personal information and It can be used to different illegal things. But after all it's the decision of the participant if he/she's going to submit KYC or not. I just want you to be aware guys that you should be responsible for choosing what program/project you're going to join.
PS. I didn't say that the bounty project that's asking for KYC is scam or any fraud related, I suggest to study the project itself first as well as the team behind that.... and the reason why they need your KYC document for participating in their bounty program.
The answer will never be a straight one, because a line of division is drawn when it comes to centralization and decentralization.Actually I've seen someone asking in the meta section about this topic but I forgot where was it.
Well I will just going to give my opinions about here in the altcoins section because I know most of the participants of the bounty programs are posting here.
KYC (Know Your Customer)
A KYC (Know Your Customer) is used to ensure that the people who're going to invest to a project are qualified for example they have a record about criminality, immigrants, etc. then they will not going to allow you to invest in their project, This was used to review the investor and make sure they credibility of the investor and also KYC is used to fight money laundering.
Now let's go back to the topic. I've seen some bounty programs that's asking for KYC documents in order to receive bounty I don't think it's necessary to ask KYC Documents from the bounty participants because:
1. They don't Invest in the project.
2. There's no need to ask for the credibility of the user for promoting their project.
However I've seen some people are still participating in the bounty program, I just want to know you the risk you're about to face when you submit a KYC document to a untrusted project/program:
• They may use your details to fraud.
• You may be accused for something that you didn't do.
• Identity Theft
• Etc.
Well all in the KYC documents are your personal information and It can be used to different illegal things. But after all it's the decision of the participant if he/she's going to submit KYC or not. I just want you to be aware guys that you should be responsible for choosing what program/project you're going to join.
PS. I didn't say that the bounty project that's asking for KYC is scam or any fraud related, I suggest to study the project itself first as well as the team behind that.... and the reason why they need your KYC document for participating in their bounty program.
Many feel that centralization within the crypto sphere, is benign, defeating what purpose Bitcoin was originally founded upon.
Others like myself, feel that a degree of centralization is neccessary, even required for crypto in it's current state of affairs to be successful.
The blockchain has created an entire ecosystem of a decentralized market. Project after project is being created to add towards the crypto space. So many ideas, meshing together. It was only a matter of time before parliament would decide to get along. Now that the governments have had their say so, the price fell from it's all time high.
Patients is the only thing needed at this point and time. Expect more regulation to come, this is the year they've chosen to act upon immediately.
Things like this should be regulated seriously. Guys, here's a crazy idea but hear me out. We're the rightful authority when it comes to cryptocurrencies. (When I say we, I mean the btctalk.org community) And if there will be a court like regulative system that will ban or greenlight ico's, this should be done by us. After all we're the first ones to see when a project is launched, we're the first ones to see when it's labeled as a scam and usually we have good reasons to label as a scam but sometimes, just shit fud is lowering the reputation of a good project.
The idea is that the court decides whether a project is scam or not. This would benefit the market even more, as the decision doesn't have to be cease & desist. Some projects might be promising with some flaws and the court could encourage the project team to fix those flaws.
The other thing court would be useful for is that it gives a chance for a team to defend themselves, they might mean nothing bad but sometimes shit happens and getting labeled as a scam just because a misunderstanding is just unfair.
So... Let's build a court!
The idea is that the court decides whether a project is scam or not. This would benefit the market even more, as the decision doesn't have to be cease & desist. Some projects might be promising with some flaws and the court could encourage the project team to fix those flaws.
The other thing court would be useful for is that it gives a chance for a team to defend themselves, they might mean nothing bad but sometimes shit happens and getting labeled as a scam just because a misunderstanding is just unfair.
So... Let's build a court!
I even don't want to provide my KYC document (government ID, driving license...) to trusted companies such as Facebook or Google. Why you want to provide such that documents to thousands of team/project/ICO in the market. Facebook still cannot protect our data so how these small company can do??
Well said, I follow this principle I do not provide my personal data to any companies or individuals I do not know anything about them ever.
Projects built on data require collecting as much data as they can. So, if a project collects data, they usually want KYC. There are even projects not only for bounty, but also for airdrop. As mentioned, sharing personal information can be very dangerous. For example, the Shivom project requires KYC, as well as a passport. I've spent a lot of time with Shivom, and now I will not get awards. This is a big injustice.
they're for sure a big scammer. they should have mentioned this among the campaign's rules in the first place.
Projects built on data require collecting as much data as they can. So, if a project collects data, they usually want KYC. There are even projects not only for bounty, but also for airdrop. As mentioned, sharing personal information can be very dangerous. For example, the Shivom project requires KYC, as well as a passport. I've spent a lot of time with Shivom, and now I will not get awards. This is a big injustice.
KYC Is really far away from bitcoin. This is why bitcoin is free for everyone, without borders, identities, or any limit. Some KYC are pretty useless because token can be traded on dex exchange as any erc-20 token.
Most of bounties are literally paid a couple of pennies.
Its really worth provide personal data / document to perfect strangers?
Most of bounties are literally paid a couple of pennies.
Its really worth provide personal data / document to perfect strangers?
I agree with all who replied in this topic that it is not good to ask KYC for bounty participants. I think it is not necessary to ask personal details for bounty campaign participants. For investors it is necessary but for us, the workforce behind the success of their ICO, I think it is unnecessary. But since they are the project owner, they can do as they wished so we have to comply on that. 
I think KYC is not just too bad at all, we know that Kyc is for the security of some projects but not for investos so I think it is not for the bounty hunters. At this time there was several bounty campaigns requesting KYc even in bounty hunters. And as ar as I know kyc is for investors only if they want to invest money to particular projects.
We all know that giving for identity for those people you didn't know is a crazy thing. Maybe someday when you wake up someone's knocking in you door and giving you a list of debts to the bank and name after you. It is a sad moment but could be happen in reality so don't trust always a bounty campaign with kyc make sure if this bounty campaign is legit and not a scam. Use your knowledge always to avoid evil Peron's.
We all know that giving for identity for those people you didn't know is a crazy thing. Maybe someday when you wake up someone's knocking in you door and giving you a list of debts to the bank and name after you. It is a sad moment but could be happen in reality so don't trust always a bounty campaign with kyc make sure if this bounty campaign is legit and not a scam. Use your knowledge always to avoid evil Peron's.
I just passing by in the Bounties(Altcoins) section to find some good project and participate to one of their campaign and there's one campaign I've visited and asking for KYC in order to receive the bounty reward.
Actually I've seen someone asking in the meta section about this topic but I forgot where was it.
Well I will just going to give my opinions about here in the altcoins section because I know most of the participants of the bounty programs are posting here.
KYC (Know Your Customer)
A KYC (Know Your Customer) is used to ensure that the people who're going to invest to a project are qualified for example they have a record about criminality, immigrants, etc. then they will not going to allow you to invest in their project, This was used to review the investor and make sure they credibility of the investor and also KYC is used to fight money laundering.
Now let's go back to the topic. I've seen some bounty programs that's asking for KYC documents in order to receive bounty I don't think it's necessary to ask KYC Documents from the bounty participants because:
1. They don't Invest in the project.
2. There's no need to ask for the credibility of the user for promoting their project.
However I've seen some people are still participating in the bounty program, I just want to know you the risk you're about to face when you submit a KYC document to a untrusted project/program:
• They may use your details to fraud.
• You may be accused for something that you didn't do.
• Identity Theft
• Etc.
Well all in the KYC documents are your personal information and It can be used to different illegal things. But after all it's the decision of the participant if he/she's going to submit KYC or not. I just want you to be aware guys that you should be responsible for choosing what program/project you're going to join.
PS. I didn't say that the bounty project that's asking for KYC is scam or any fraud related, I suggest to study the project itself first as well as the team behind that.... and the reason why they need your KYC document for participating in their bounty program.
Actually I've seen someone asking in the meta section about this topic but I forgot where was it.
Well I will just going to give my opinions about here in the altcoins section because I know most of the participants of the bounty programs are posting here.
KYC (Know Your Customer)
A KYC (Know Your Customer) is used to ensure that the people who're going to invest to a project are qualified for example they have a record about criminality, immigrants, etc. then they will not going to allow you to invest in their project, This was used to review the investor and make sure they credibility of the investor and also KYC is used to fight money laundering.
Now let's go back to the topic. I've seen some bounty programs that's asking for KYC documents in order to receive bounty I don't think it's necessary to ask KYC Documents from the bounty participants because:
1. They don't Invest in the project.
2. There's no need to ask for the credibility of the user for promoting their project.
However I've seen some people are still participating in the bounty program, I just want to know you the risk you're about to face when you submit a KYC document to a untrusted project/program:
• They may use your details to fraud.
• You may be accused for something that you didn't do.
• Identity Theft
• Etc.
Well all in the KYC documents are your personal information and It can be used to different illegal things. But after all it's the decision of the participant if he/she's going to submit KYC or not. I just want you to be aware guys that you should be responsible for choosing what program/project you're going to join.
PS. I didn't say that the bounty project that's asking for KYC is scam or any fraud related, I suggest to study the project itself first as well as the team behind that.... and the reason why they need your KYC document for participating in their bounty program.
I think the idea of KYC is very strange in the bounty hunting business because it negate the ideals of our great founder Satoshi Nakamoto who proposed the policy of financial decentralization. What the bounty hunters need to do in this case is to be very much careful with their documents because not all projects are valid.
Fully agree with the author of the topic. Bounty hunters have nothing in common with investing in the project. Cryptocurrencies seek security and anonymity and this completely contradicts the principles.
Kyc to receive bounty reward is strategy and scheme of denying bounty hunter their reward. There are many rules and impediment already that will reduce your reward if you are a bit negligent why adding more to it?
No, it is not a scheme. most of the legitamtie ICOs has to comply with the regularity laws thus they have to idenitfy their " customers" in order to that. If they dont they risk of getting in big trouble.
Right now the NEW DATA regulatrion is in the place that means that Eu citizens can reqauest Their KYC data to be deleted if they fail so they ar risking fines up to 20 million in Eur
For me using KYC to receive bounty rewards is good. Because the management will be able to detect some spammers and those people with multiple accounts so they won't be able to receive rewards.
I do not mind that the bounty hunters passed the KYC, as I am sure that I will receive my coins and receive them in full. And all those campaigns that spend KYC inspire confidence.
I just passing by in the Bounties(Altcoins) section to find some good project and participate to one of their campaign and there's one campaign I've visited and asking for KYC in order to receive the bounty reward.
Actually I've seen someone asking in the meta section about this topic but I forgot where was it.
Well I will just going to give my opinions about here in the altcoins section because I know most of the participants of the bounty programs are posting here.
KYC (Know Your Customer)
A KYC (Know Your Customer) is used to ensure that the people who're going to invest to a project are qualified for example they have a record about criminality, immigrants, etc. then they will not going to allow you to invest in their project, This was used to review the investor and make sure they credibility of the investor and also KYC is used to fight money laundering.
Now let's go back to the topic. I've seen some bounty programs that's asking for KYC documents in order to receive bounty I don't think it's necessary to ask KYC Documents from the bounty participants because:
1. They don't Invest in the project.
2. There's no need to ask for the credibility of the user for promoting their project.
However I've seen some people are still participating in the bounty program, I just want to know you the risk you're about to face when you submit a KYC document to a untrusted project/program:
• They may use your details to fraud.
• You may be accused for something that you didn't do.
• Identity Theft
• Etc.
Well all in the KYC documents are your personal information and It can be used to different illegal things. But after all it's the decision of the participant if he/she's going to submit KYC or not. I just want you to be aware guys that you should be responsible for choosing what program/project you're going to join.
PS. I didn't say that the bounty project that's asking for KYC is scam or any fraud related, I suggest to study the project itself first as well as the team behind that.... and the reason why they need your KYC document for participating in their bounty program.
I have read an article of a bounty manager stating that he need KYC for bounty hunters because there were too many cheaters that want to take advantages of the situation. One of the modus by cheaters is applying multiple accounts in a single campaign. Actually I've seen someone asking in the meta section about this topic but I forgot where was it.
Well I will just going to give my opinions about here in the altcoins section because I know most of the participants of the bounty programs are posting here.
KYC (Know Your Customer)
A KYC (Know Your Customer) is used to ensure that the people who're going to invest to a project are qualified for example they have a record about criminality, immigrants, etc. then they will not going to allow you to invest in their project, This was used to review the investor and make sure they credibility of the investor and also KYC is used to fight money laundering.
Now let's go back to the topic. I've seen some bounty programs that's asking for KYC documents in order to receive bounty I don't think it's necessary to ask KYC Documents from the bounty participants because:
1. They don't Invest in the project.
2. There's no need to ask for the credibility of the user for promoting their project.
However I've seen some people are still participating in the bounty program, I just want to know you the risk you're about to face when you submit a KYC document to a untrusted project/program:
• They may use your details to fraud.
• You may be accused for something that you didn't do.
• Identity Theft
• Etc.
Well all in the KYC documents are your personal information and It can be used to different illegal things. But after all it's the decision of the participant if he/she's going to submit KYC or not. I just want you to be aware guys that you should be responsible for choosing what program/project you're going to join.
PS. I didn't say that the bounty project that's asking for KYC is scam or any fraud related, I suggest to study the project itself first as well as the team behind that.... and the reason why they need your KYC document for participating in their bounty program.
I do not know to myself if I am against on kyc or not, but sometimes I find it good and its my advantage to earn more since a lot of users who used multi accounts can be removed, it is also to become fair to every participants of the bounty campaign.
For me I would say KYC is good to receive bounty awards because it will help the team to fish out the spammers and those with multiple accounts. It's good.
I think KYC is good to stop people having multiple accounts in a given bounty. Also I will suggest that those bounties clearly specify their terms during the bounty campaigns and not after the campaign to avoid some people who don't like doing KYC miss out on their pay.
Identification is required often now ... I am not a supporter of this approach. Anonymity is important for crypto
I think it's no longer a kick to pay the bounty just to get the reward knowing if other kyc picks are being used to verify in other accounts so we are careful with those who are taking the kyc
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