Rewarding bounty hunters with EQUITY SHARES instead of tokens - page 3.

Spaffin

full member

Activity: 1316

Merit: 108

Quote from: ?? on ??

Unlike many projects, they at least do not refuse to pay, I hope, although what then to do with these shares of mind I will not apply!

I participated in this ICO project, fulfilled all their conditions, however, due to these constant changes in the terms of remuneration and checks, KYC missed one of the deadlines for KYC verification, and therefore lost the right to receive earned tokens. Changes in the conditions for receiving remuneration for KYC checks after the end of the ICO are now one of the main reasons why this activity for bounty hunters becomes very problematic. The ICO teams consider that we have nothing to do, as even months after the end of their ICO, constantly re-read their telegrams until they deign to write specific information about passing KYC checks.
In fact, this is one of the methods of fraud.

Azuliand

jr. member

Activity: 336

Merit: 1

Quote from: ?? on ??

It is not a bad idea to do that,atleast it is better than not paying the bounty hunters at all,to me is a good idea as long as the company has a working product.

Well, I think on the contrary , the projects were paid the shares and nothing good will come out of it , I think the right to pay either in Fiat or in coins project !

fuer44

sr. member

Activity: 1680

Merit: 262

it's not the right thing, it violates the life of the bounty campaign. should if the team wants to change payments from tokens, the second alternative is with platform coins, or with cash.

shad_ow90

member

Activity: 224

Merit: 10

dApps Development Automation Platform

Quote from: friends1980 on January 28, 2019, 04:48:02 AM

An interesting evolution:

Looks like the DataBlockChain/DBC.io project had some issues with their 2 bounty campaigns. It made them decide to change the initial campaign project, which was "the usual" token payment. They have decided now to reward bounty hunters with equity shares instead of tokens.

This means you have to fill out KYC, send a copy of your selfie with ID and even fill-out a tax form (!!).

I am not sure what to think of this evolution. Could this be a new step in bounty campaign rewards? What about user's privacy protection?

Also, these guys are really dancing on the limits of legality. If you're promising people to pay them tokens, you can't just go ahead and change the rules along the way. Even the most radical of libertarians or anarchists will agree that the principle of "pacta sunt servanda" is the basics of any system or society.

I think that they don't have permission to change rules which they gave from the beginning and require participants must provide personal informations to them. They are looking down on bounty hunters

plr

member

Activity: 1162

Merit: 24

I don't know why they are avoiding payment to bounty hunters, they are going to lose their reputation if they keep doing this, this is not right if they will implement that, they should do so before the start of the campaign, they are abusing their bounty hunters.

friends1980

legendary

Activity: 1582

Merit: 1059

nutildah-III / NFT2021-04-01

Quote from: BQ on February 01, 2019, 03:09:20 PM

What is a promise worth tho, is there any sort of legal contract? no? it's a google sheet, this development sure is strange but is it done for their best, or to abide laws as good as possible?

Depends on which country you're from, but I can confirm that any country which has Civil Laws based on Napoleon's Codes, accepts a "consensus" as legally binding. So yes, a promise can imply a legal contract.

sonicwave

full member

Activity: 490

Merit: 101

Quote from: ?? on ??

Unlike many projects, they at least do not refuse to pay, I hope, although what then to do with these shares of mind I will not apply!

Is there any assurance they will pay you after completing all the task for the bounty campaign?
I am not familiar with equity shares it is different from token?

Stocks of course differ from the token, they are more stable and give a greater chance of profit, another question is who will agree to such a procedure, and in what ratio will the payments to the token be.

meanwords

full member

Activity: 1624

Merit: 163

Nope, not my thing. KYC is what makes me stay away from projects. I remembered I joined the bounty campaign of that project months ago but my reward hasn't been given yet. There's no way I'm giving my information to something because I'm not sure what will they do to it especially when information can be sold.

coino.org

full member

Activity: 798

Merit: 101

It looks complicated and shady. What is more there wasn't IPO, so this company will never be traded on stock exchange, so how are you going to sell your share?

Red-Apple

hero member

Activity: 1470

Merit: 655

ever since the ICO hype died and all the new ICO creators started having a hard time to get people to give them their money, they started looking for new ways to incentivize people into giving them their money! in other words they upped their scamming game. one of these methods have been KYC and they are trying so hard to enforce it on their users so that they may be fooled into thinking their ICO is legit!

Ucy

sr. member

Activity: 2674

Merit: 403

Compare rates on different exchanges & swap.

This isa big deviation from cryptocurrency ideals. Principle should be primary in crypto world , while money should be secondary... People still don't get it.
How do they expect to have a decentralized, Censorship resistance coin if this is what they want for their project.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

Quote from: friends1980 on January 28, 2019, 04:48:02 AM

An interesting evolution:

Looks like the DataBlockChain/DBC.io project had some issues with their 2 bounty campaigns. It made them decide to change the initial campaign project, which was "the usual" token payment. They have decided now to reward bounty hunters with equity shares instead of tokens.

~~This means you have to fill out KYC, send a copy of your selfie with ID and even~~ fill-out a tax form (!!).

I am not sure what to think of this evolution. Could this be a new step in bounty campaign rewards? What about user's privacy protection?

Also, these guys are really dancing on the limits of legality. If you're promising people to pay them tokens, you can't just go ahead and change the rules along the way. Even the most radical of libertarians or anarchists will agree that the principle of "pacta sunt servanda" is the basics of any system or society.

I think this is shady if participants weren't told about a KYC from the beginning as not many people like a bounty involving a KYC. It doesn't really matter if they are having payouts now in a different and better coins, not even Bitcoin or Monero would mean anything. I really don't think it's a good thing.

mdzahed134

sr. member

Activity: 2226

Merit: 259

DGbet.fun - Crypto Sportsbook

Quote from: cabron on January 30, 2019, 09:21:57 AM

How long will they be able to provide the equity shares and can they exchange it for BTC?

I have no idea what equity shares can do to be honest but if they wanna prevent bounty hunters from dumping they could just distributed the tokens by quarter. This will prevent the price to dip much.

Equity based project i think you can convert to crypto probably possible although i have little knowledge. Datablockchain was most promising project when ICO finished the team development changing their moto because they are not confident to lunching DBC in the bearish market. Also i participated in this project but their KYC process is really unpair.

Pffrt

sr. member

Activity: 1372

Merit: 322

Since it's asking for KYC, I am not all in all for this system. In cryptocurrency world, KYC should not be encouraged by any way. Who is going to ensure the security? Who will be responsible for any compromise of our data? No one. So, no to KYC.

BitDane

sr. member

Activity: 1372

Merit: 348

Is it really worth-it for a KYC and privacy? If it is yes for you then go for it. I really think that there are alternative ways just to survive with this kind of bearish market. But we need to understand that all of us just wanted to have something that is fruitful and beneficial for us all.

If there is someone who tried it, please share with is your own personal experience so that we could learn from it somehow.

Vektrum

member

Activity: 420

Merit: 14

I do not believe that bounty hunters can receive payments in stocks. It is simply impossible to do technically. The above ICO, perhaps, in this case, saves your project and it is absolutely indifferent to them that in the end bounty hunters will not receive anything at all for their labors. There several times radically changed the essential conditions of the project. If they themselves violated the conditions, then they needed to do everything necessary to smooth out the inconvenience for bounty hunters. Instead, they began large-scale KYC checks for a long time. For me, this is just another fraudulent ICO.

ukloon

sr. member

Activity: 798

Merit: 281

Equity shares are good but it is complicated to get and sell. There would be a stack of paperwork to get through if it was done properly. For most bounty hunters i think they will prefer to get tokens and list them on the exchanges instead.

kliown

hero member

Activity: 1080

Merit: 500

I think that this measure is not forced for them, but still I think that this is not the best option and to participate in such bounty companies I would not.

Snaic

full member

Activity: 658

Merit: 102

Quote from: ?? on ??

Unlike many projects, they at least do not refuse to pay, I hope, although what then to do with these shares of mind I will not apply!

I doubt that they will at least pay something. Paying shares is almost impossible. I participated in the signature campaign of this ICO, but I didn’t have time to do something there and didn’t pass the KYC verification. In the end, I got nothing. If there were no replacement of payment terms, I would receive earned tokens. This is not to say that this is a direct fraud, but there is a deception here.

BQ

member

Activity: 616

Merit: 53

CoinMetro - the future of exchanges

What is a promise worth tho, is there any sort of legal contract? no? it's a google sheet, this development sure is strange but is it done for their best, or to abide laws as good as possible?

Topic: Rewarding bounty hunters with EQUITY SHARES instead of tokens - page 3. (Read 623 times)