Topic: Question About Bounty and KYC??? (Read 330 times)

I totally disagree with such bounties that have KYC. Because that is only bounty, bounty hunters are not investors, bounty hunters should not be considered as investors, because bounty hunters are like workers, they are doing such task to get paid.

Its absolutely not necessary if the manager can properly monitor those on the campaign. It might not be perfect but to a large extent it will be curtailed. But the problem usually arises from the unending amount of people they are recruiting to join the campaign that are too difficult to manage. Imagine having over 500 bounty hunters in various categories of the campaign. How exactly would that be manage. A simple hire of more than one managers to group the participants for proper control would solve the problem.

Aside that, there are threads on the forum that the connection is so glaring and the manager won't bother to check it out. Its even bad to certain point that concerned members of the forum would even report to the manager but rather than acting, he ignores while some others you see their post and wonder how a sane person would want to hire this individual. What do these category of people have in common, they all ask for KYCs. Now what exactly do they use it for, if not for some shady things.

KYC really helps the management to identify those having multiple accounts and breaking the rules.  However, I am very disinclined to the bounty campaigns having KYC, because it is too risky to post your picture with your identification card in it.  I do not know if the bounty campaign is just a scam and will use my identity (identity theft) for other scams.  Not a risk worth taking for me.

If the bounty manager is excellent in his job, I think KYC is not necessary for he/she can pinpoint who is cheating and who is not.

While I still understand the reason why ICOs engage in KYC these days because of the need to guide against the use of "dirty funds in investing in their projects, I still don't understand why bounties would want to engage in that if not for shady things because as bounty is, its the recruitment of freelancers to help you promote your work after which you pay them to go their ways. Nothing is connecting the two parties afterwards.

However, the only argument they put forward is because of the exclusion of nationalities certain countries and the abuse by one persons with several accounts out of greed. But the issue again is that, most of the bounties don't use it for such purpose because I have read several threads on the reputation forum seeing people cheating bounties with different accounts and some even using another person's username to register for bounties while the bounty manager either ignore or not doing his job which further points to the argument that the information they collect, is for other purposes.

yes, I agree. The point of KYC/AML is to protect both parties involved in financial transactions
the C stands for Customer, some references the C for Client
but for bounty requiring KYC is just plain wrong, bounty workers are not their customers
instead they can ask their bounty workers to provide previous works for competency proof

First of, kyc is just for investors who bought and it's a requirement for an ico as they say  they're compliant of AML. But bounty is different story since they never bought it, so cut the crap. I don't trust them and neither anyone here. Don't compromise your identity over few bucks.

Ever heard black market? Take it seriously since everything and anything can be bought nor sell here especially for those people that money is everything.

There are both pros and cons of KYC

Main pros i see are:
- people (hopefuly) first investigate what the project is about before they start promoting it via social media (which can also minimize spam)
I find quite outrageous that bounty hunters actually don't care about project itself ... all they care of is some "free" thing which can possibly turn into easy profit if succeed (and if not then it's not a big deal as they only spent time copy pasting some text to twitter account).
These people should realize bounties are sort of advertisement. That's where the things can turn bad. The more certain project is promoted via social media the more is probable someone starts feeling that project is good and falls into (despite the whole thing could be shady as hell).

- it minimize abuse using more accounts to collect bounty multipletimes by single person ( which I bet is happening a lot ) ... so it contributes to spreading tokens (or w/e ) among people (not among accounts)  ... this is only valid for airdrops as ICO's goal is to get funds (no need to care from which sources they come from).

I would say any serious ICO should follow KYC but also should provide their own personal identities as well (to be fair). Not only from reasons stated above but also to avoid possible complications in future. e.g. when authorities finds some of the funds came from illegal activities or w/e. (in such case if they did not follow KYC, they can face serious consequences)

thank you
As you say, I see the risk is too great
I will lose more than I have if I provide my personal information to them.

Thank you for your opinion.
I will be more cautious in my decision.

or it can simply be that they want to seem legitimate in the eyes of newbies saying we are "regulated" so we have to abide by law and ask for KYC so that they can get more people to invest in their crap and make more money. otherwise most of the times it is the first reason (they want to make money with the identities they gather and abuse) and even if they don't start that way, they will eventually end up doing exactly that.

Regulations about ICOs are getting tighter, some countries prohibit that their citizens take part in ICOs for example. If the company behind such an ICO is serious, they HAVE to do a KYC, otherwise they would be in real trouble if they are controled (tax, ...). So a KYC with might be actually a good thing, but you really have to take a very close look at the project issuing it.

Agree, its too dangerous to give your personal data to private entity.
I mean if its BIG entity like well known exchange or bank you almost dont have choice but here? Totally not worth the risk.

Definitely. The risk is too much for a very small reward. Especially for airdrops. You give up your identity and your documents for what? A few dollars at best? KYC is a huge no for me dawg. If I really wanted a certain coin/token that's conducting a bounty campaign or an airdrop, then I would just wait for it to reach exchanges then buy it instead. At a cheaper price too!

Don't give your ID or important documents from ICO bounties, any ICO that requires KYC is too risky because I heard that they're collecting important documents to use and sell it to the black market. So, if you give your important details on untrusted site or ICO bounties there is a big risk that they can use it for scamming or use it as the representative of a fake project.

So, I suggest you stay away from them and forget about bounties that require KYC verification you can join other ICO project that doesn't need any KYC verification. Honestly, not all ICO projects are legit so, better to buy BTC or other altcoins that listed on the top 100 at CMC.

Never took a part of ICO and will never commit such KYC for those tokens.

It's not worth it, don't let your identity pass to a stranger.

I wouldn't take part in ICOs requiring KYC either. Before even joining a new ICO, this is the first question that I try to find answer to. If the bounty manager says the ICO requires KYC, I won't participate no matter the reward. You never know with 100 percent certainty who the people behind the ICO are. Imagine your personal data being sold on the black market. Maybe 99 percent of ICOs won't do that, but what if you are not lucky and give your info to the one percent. It can get you in many troubles.

I'm with you on this, it's not worth it for a little money to give your personal data/information to strangers on the Internet, doesn't really make any sense. You can end up with your ID being sold on the black market and get yourself in a real trouble.

The potential damages you may incur are far greater than what you can earn/win. Still up to you though...

Probably most, when talking about bounties and airdrops.

Projects requiring KYC is just mostly for 2 reasons:

• Them requiring KYC to potentially commit identity theft
• Them requiring KYC to prevent abuse. Especially with airdrops whereas some probably create multiple accounts

Not sure about you, but I personally don't think it's worth the risk.

I recently encountered this so call KYC, are all bounty nowadays required to have KYC? if so where do I usually see the form for this,
On the last bounty that I've joined, The Social Media Market, I saw the KYC requirement on their telegram account, which I don't usually join, luckily, my husband join the telegram account of this bounty and saw that they required bounty hunter for KYC.