KYC to receive bounty rewards. - page 5.

Yakapo

newbie

Activity: 203

Merit: 0

Quote from: ArkiCrypto on May 01, 2018, 10:54:26 AM

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 the this 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. This was used to review the investor and make sure they're credibility 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.
• 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 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.

as much as your concerns are legitimate, especially the fact that untrusted program can use your details to participate in fraud. KYC is very unnecessary for bounty hunting, but again i don't see anything wrong with Filling and submitting these forms if you are a legitimate bounty hunter with nothng to hide of fear.

Casmiro

newbie

Activity: 154

Merit: 0

I actually really like the KYC system because it can improve the security level of data validation. But for some reason this time a lot of negative responses about the verification system using KYC. many say the terms are very difficult or verified KYC but never be able to distribution. I myself have never done verification using KYC, because it is still quite new as well. Hopefully this KYC system soon returns to its original destination and primarily for the security system, not to complicate bounty participants.

waitforme

full member

Activity: 618

Merit: 100

BBOD The Best Derivatives Exchange

I think that KYC is required for bounty hunters to be needed, for the project this will help the project get no trouble when the government requests to disclose the identity of the first Tokens owners from the project. For other chefs, it is easy to remove the cheater who will reduce the competition and quickly get many tokens.

runque

member

Activity: 140

Merit: 10

Why more and more bounty activities require kec, this is very strange, and it is also very troublesome. In that case, many people cannot participate because of policy reasons. This is too unequal for a fair development world. Bounty is a job and it should be rewarded.

ngavanngo22

member

Activity: 238

Merit: 10

OPEN GAMING PLATFORM

I think that KYC is essential but should only apply to investors because they invest money in ICO project. But with bounty participants, it is not necessary because they do not put money into investment As well as the cost of ICO Bounty is usually low, only about 5% of the total Token sold. Therefore, it is not necessary for KYC members to participate in the Bounty.

Vandewaerde

newbie

Activity: 25

Merit: 0

Quote from: ?? on ??

LOL. People are madly angry when they know facebook leaked their personal activities. Then why easily release your information because of bounty

KYC - the project you do not know if they'll pay your bounty task. Even if they pay, the money received will be very tiny.

Very valid point. I tend to avoid this, unless the bounty and project are really worthwile

mak2017

full member

Activity: 434

Merit: 110

I think we will meet KYC process in 2018 more often as before, due to upcoming regulations mostly.
Some token are going to be a security and SEC will be definitely looking at companies with security assets.
Even when you don't invest and you're just a bounty hunter, sometimes rewards get quite big and in that case KYC procedure is normal in my view.
Its good to know who is performing your KYC, but this information is rarely shared with users, best and the most expensive KYC procedures are in Switzerland.
I don't do Airdrop that much nowadays, but KYC for an airdrop sound really silly.

chocolaty

member

Activity: 294

Merit: 14

I totally agree with this. I know some projects that required its participant to comply on KYC policy and I think its very inappropriate because their job is to promote only. I think its a hassle to both the participant and campaign manager because first and foremost, the participant will risk his/her identity for it and second, verifying each participant's KYC status is tedious for the manager. In my own opinion, KYC policy must only be performed to investors.

Bostonias

newbie

Activity: 97

Merit: 0

Quote from: akashark on May 01, 2018, 07:44:47 PM

Kyc is a good thing to get scammer! Many scammers steal bounty hunter's information and they just use those! Kyc is a thing to get them easily. But nowadays KYC is getting harder. And they just say after bounty end, that's why many bounty hunters even don't know! They should say at the beginning!

You are only thinking of it from the ICO owners point of view. If you are a regular bounty hunter then you wouldn't want your information put up online..

roshanface123

full member

Activity: 308

Merit: 100

Yes i completely agree with your point but some scenario it looks legit but i submitted KYC for some projects . Now i am really regretting for doing that . I am in fear of misused my personal thing . I think KYC submission is far if the ICO also required KYC . Atleast they will understand participants locality . Like lots of ICO restrictred in USA.

JohnWick_Bitcoin

member

Activity: 308

Merit: 10

Quote from: ArkiCrypto on May 01, 2018, 10:54:26 AM

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 the this 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. This was used to review the investor and make sure they're credibility 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.
• 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 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.

In my own opinion, asking for kyc after the bounty ends is like a fraud because they will know that there will be lesser participants if they will implement a kyc for the bounty hunters as well so ico's who are not implementing a rule of kyc before the bounty starts is like a scam for me.

FsJsxy

member

Activity: 233

Merit: 10

I also do not understand why to check documents from bounty campaigns, we are not investors ... Especially often the amount of reward does not exceed 100$

hanadaya

jr. member

Activity: 294

Merit: 4

The pay hunters should give KYC all the fun of participating in a decentralized and anonymous atmosphere. You understand the concerns of companies that they want to know about the people who participate because they do not want bots or spammers. We all know that doing things on the internet is very risky if we do not have knowledge about it.

shooleh

member

Activity: 616

Merit: 10

Personal Text: Revolusi industri erotis di Blockc

Until recently I had a one-time gain of projects that use KYC, and I graduated in charging KYC. And I think if you find the project that uses the KYC was not a problem. But it also depends on the respective personal willing to share information or not.

sasa0220

newbie

Activity: 210

Merit: 0

I think it is importnt to identify the authentisity of the project before participaing. If the project is a authentic then they may require the KYC doument as they need to comply with the regulations. Polymath is such a project that they distribute all the tokens as airdrop.
So i think better to check the the authentisity of the project before trusting and joining the project

ArabianStars

jr. member

Activity: 55

Merit: 1

KRIPTON

Quote from: BenjaminFranklingwould on May 01, 2018, 07:48:22 PM

Quote from: Pasaway2701 on May 01, 2018, 07:31:18 PM

Quote from: ashao1015 on May 01, 2018, 07:14:33 PM

I don't like it as a most of us. But we need to see the whole picture before making some loud statements. We need regulation for ICOs. And most ICOs are securities. Yes, they trying to avoid this but most regulators think about it like securities. And we have to face it, deal with it. ICOs are risky, a lot of scam etc. With KYC we will have more fair distribution as well as more chances to have more institutional money inside. Which would be pretty good for the whole future crypto economy.

KYC will reveal your real identity. I don't think that to be required in bounty participants to claim the rewards. It can be useful only to those who invest in the ICO for the security. It will be hard for the participants to claim if ever because not all has a valid ID to be use. Like the minors who able to join in the bounty.

Invest your money and has been rewarded for it or invest your skills and also being rewarded for it. Either way identification would be good to prevent botnets from bounties. Just watch what is going on with twitter/facebook bounties. Most of them are dead already because some jackass did 10-30 accounts and automated it. It nearly useless for the company and also bad for other participants. Identity is the key to prevent it.

While I agree that this is a great way to prevent botnets from participating in bounties and defeats the purpose of campaing, I also have a little problem when it comes revealing identity. I don't really agree that bounty hunters should participate in KYC, since they are those that promote the project and the system already has mechanism to prevent botnets from functioning.

But really, I understand what you mean and I support you against botnets. But only where it is appropriate.

BenjaminFranklingwould

full member

Activity: 335

Merit: 101

Quote from: Pasaway2701 on May 01, 2018, 07:31:18 PM

Quote from: ashao1015 on May 01, 2018, 07:14:33 PM

I don't like it as a most of us. But we need to see the whole picture before making some loud statements. We need regulation for ICOs. And most ICOs are securities. Yes, they trying to avoid this but most regulators think about it like securities. And we have to face it, deal with it. ICOs are risky, a lot of scam etc. With KYC we will have more fair distribution as well as more chances to have more institutional money inside. Which would be pretty good for the whole future crypto economy.

KYC will reveal your real identity. I don't think that to be required in bounty participants to claim the rewards. It can be useful only to those who invest in the ICO for the security. It will be hard for the participants to claim if ever because not all has a valid ID to be use. Like the minors who able to join in the bounty.

Invest your money and has been rewarded for it or invest your skills and also being rewarded for it. Either way identification would be good to prevent botnets from bounties. Just watch what is going on with twitter/facebook bounties. Most of them are dead already because some jackass did 10-30 accounts and automated it. It nearly useless for the company and also bad for other participants. Identity is the key to prevent it.

sehoon

full member

Activity: 840

Merit: 101

If you still want to receive bounty then join campaigns that don't require KYC. It is just a personal preference whether you are comfortable with sharing your information with someone. Yes, it will remove the concept of being decentralized. I agree on that part. But if they will use that information for something illegal, that will become a massive breach. As of now, I passed two KYCs and I will remember the campaigns with whom I passed.

goyal.dkg

member

Activity: 336

Merit: 14

Quote from: ArkiCrypto on May 01, 2018, 10:54:26 AM

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.

same doubt in my mind .
neither we invest , nor any law or regulation force any project to ask KYC details from bounty or airdrop participants .
giving kyc for 100-200 USD worth of tokens is not that great idea at risk of privacy and misuse of details .

akashark

member

Activity: 387

Merit: 12

Kyc is a good thing to get scammer! Many scammers steal bounty hunter's information and they just use those! Kyc is a thing to get them easily. But nowadays KYC is getting harder. And they just say after bounty end, that's why many bounty hunters even don't know! They should say at the beginning!

Topic: KYC to receive bounty rewards. - page 5. (Read 839 times)