Topic: The misunderstandings in KYC (know your customer) - page 2. (Read 832 times)
KYC is indeed a problem in every Bounty program. Many Bounty participants don't pass KYC and don't get tokens. Those who qualify for KYC can get tokens. But what's interesting to me is that every time KYC is used rarely the project can succeed. And I see that every time the token is entered in the Exchange the price immediately drops. Could this developer be unprofessional in doing his job.
I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.
But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.
Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.
Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.
The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights. So if you say that you can't pass through kyc because you are a hunter, then you are the cheater
But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.
Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.
Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.
The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights. So if you say that you can't pass through kyc because you are a hunter, then you are the cheater
You are fast to judge those who don't want to pass KYC or do not accept KYC, well if you are participating in all the ICO that you are investing and promoting and pass the KYC don't be surprised if you find all your personal details sold in the black market, let's admit it, these ICO's come and go and who do you ask what happen to your personal details, when the ICO that you've got in is already nowhere to be found.
In my opinion, KYC is a good procedure. KYC for Bounty arises because many people violate regulations. ICO companies don't want their coins to fall on people who cheat. KYC is a procedure that must be done even if you oppose it.
The bounty of the company for quite some time do not bring profit to the bounty hunters, so take KYC to participate in the bounty becomes less appropriate.
Definitely true! some projects are not worth it to give your own information because they might be a scam or not successful one so bounty hunters must be very attentive with regards of picking bounties especially if the project require KYC.
I dont have objection about KYC because i think its good to comply government regulation. If we join in the campaign, we should be trust the project is good and i think its not a problem if we give information about us because government regulation on ICOs
If the information stays with the projects and the projects are serious, it shouldn't be a problem. But what happens if they leak the data?
This! That's why KYC is an extreme danger for everyone who must submit it. Nobody need KYC.
Not that nobody needs KYC if it is a legal requirement, but the risk can't be ignored that the data gets abused or leaked.
The bounty of the company for quite some time do not bring profit to the bounty hunters, so take KYC to participate in the bounty becomes less appropriate.
Definitely true! some projects are not worth it to give your own information because they might be a scam or not successful one so bounty hunters must be very attentive with regards of picking bounties especially if the project require KYC.
I dont have objection about KYC because i think its good to comply government regulation. If we join in the campaign, we should be trust the project is good and i think its not a problem if we give information about us because government regulation on ICOs
If the information stays with the projects and the projects are serious, it shouldn't be a problem. But what happens if they leak the data?
This! That's why KYC is an extreme danger for everyone who must submit it. Nobody need KYC.
The bounty of the company for quite some time do not bring profit to the bounty hunters, so take KYC to participate in the bounty becomes less appropriate.
Definitely true! some projects are not worth it to give your own information because they might be a scam or not successful one so bounty hunters must be very attentive with regards of picking bounties especially if the project require KYC.
I dont have objection about KYC because i think its good to comply government regulation. If we join in the campaign, we should be trust the project is good and i think its not a problem if we give information about us because government regulation on ICOs
If the information stays with the projects and the projects are serious, it shouldn't be a problem. But what happens if they leak the data?
The bounty of the company for quite some time do not bring profit to the bounty hunters, so take KYC to participate in the bounty becomes less appropriate.
Definitely true! some projects are not worth it to give your own information because they might be a scam or not successful one so bounty hunters must be very attentive with regards of picking bounties especially if the project require KYC.
I dont have objection about KYC because i think its good to comply government regulation. If we join in the campaign, we should be trust the project is good and i think its not a problem if we give information about us because government regulation on ICOs
I think that many times for the bounty hunters they demand their KYC, not only for investing their time in some task to obtain the tokens, but for the fact, that there are many who want to take advantage of the system, that is, they create multicuentas and want to take tokens inappropriately, that way I interpret the reason for demanding the KYC.
For this reason, in the ICO, or STO, there must be a special KYC verification team that is very strict, only so that possible cheats are not leaked.
The part that many people do not like, is that many operators, like to remain anonymous, and do not like to reveal their personal data, because if the project turns out to be SCAM they will have their data in some database, being something very delicate.
In those cases, it is necessary to see if the bounty hunter risks giving his KYC or not, it would be a very personal decision.
For this reason, in the ICO, or STO, there must be a special KYC verification team that is very strict, only so that possible cheats are not leaked.
The part that many people do not like, is that many operators, like to remain anonymous, and do not like to reveal their personal data, because if the project turns out to be SCAM they will have their data in some database, being something very delicate.
In those cases, it is necessary to see if the bounty hunter risks giving his KYC or not, it would be a very personal decision.
There is much misinformation in your OP, I will give it a short sum up:
I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.
It is not fair because Bounty hunters are not investors. They don't put money into it they only get free coins. But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.
Of course they are wrong. They are enforcing a high risk to bounty hunters to send kyc to scammers. Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.
Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.
No, there can't be money laundering because there can't be money invested if you are only bounty hunter. Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.
The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights.
Yeah, you wrote it here, why don't you get it???!!! Bounty hunters don't invest money so it can't be laundered. So if you say that you can't pass through kyc because you are a hunter, then you are the cheater
Your advice is misinformation and a shame for someone being in crypto. It's like the politicans making laws and don't know the shit what they are doing. Exactly like your BS text. 
The bounty of the company for quite some time do not bring profit to the bounty hunters, so take KYC to participate in the bounty becomes less appropriate.
Definitely true! some projects are not worth it to give your own information because they might be a scam or not successful one so bounty hunters must be very attentive with regards of picking bounties especially if the project require KYC.
The bounty of the company for quite some time do not bring profit to the bounty hunters, so take KYC to participate in the bounty becomes less appropriate.
I may agree on with that. Company do kyc to protect company from fraud or people who invest money came from bad doings. However when it comes to bounty hunters. I think they have right to not like kyc because first of all they are not investing money. They invest time and effort to promote the project. Having a kyc also is not a guarantee that the bounty hunters get paid for their work. There are a lot of ico asking kyc but in the end they just gone.
I have nothing against the KYC procedure. Now the projects have to introduce this procedure. Fraud has increased not only among the projects, but also among the participants of the bounty. Therefore, you just need to choose a good company to participate and not be afraid of the KYC procedure.
Choosing can be so hard for now, and I won't able to trust anymore for legit companies to choose for this time. I am tired to providing kyc's but it turned out failure of expectations and sadly after the project it was so hurting to be disappointed after all efforts made. I considered myself a victim of that fraud like projects, that's why new upcoming projects was too hard to offer or gather legit kyc because of that reasons.
I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.
But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.
Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.
Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.
The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights. So if you say that you can't pass through kyc because you are a hunter, then you are the cheater
The reason why so many hunters are clamuring for the removal of KYC requirement is because many of them uses alt account in participating in the bounty campaign and they don't want to be cut since they know the implication on their account. To some people, they don't want to give out their personal information and is why they are against KYC. But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.
Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.
Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.
The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights. So if you say that you can't pass through kyc because you are a hunter, then you are the cheater
I have nothing against the KYC procedure. Now the projects have to introduce this procedure. Fraud has increased not only among the projects, but also among the participants of the bounty. Therefore, you just need to choose a good company to participate and not be afraid of the KYC procedure.
As the name suggest shows that the team wants to know the person they are dealing with due to the high rate of money laundering and many other negative vices that goes on in the digital world. KYC is not made for any target group and there if only you want to be a token holder you just go through. There is nothing to be scared of, nothing scary at all.
The spirit behind of every law or principle is to solve a problem but what if the law or principle becomes a problem of what essence shall it be to the citizens? The so called KYC is bureaucratic and opposed to the spirit behind decentralization and worst of it all ICOs now use it as an opportunity to rob unsuspecting bounty hunters of their hard earned fortune 'their token'.
You know, I did not have problems with passing KYC, but sometimes it happens that you face some problems with KYC passing because of the different reasons. But in case the real team want the project to be successful and in order not to loose the investors and appreciators of the platform they do their best to help you to pass it and do their best to help you to solve the problem. So I quite agree that it depends on the situation.
I have seen many hunters talk about the kyc with utmost hatred. Many wants kyc removed, many thinks it's not fair for hunters, while some say it shouldn't be for hunters, because hunters are not investors.
But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.
Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.
Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.
The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights. So if you say that you can't pass through kyc because you are a hunter, then you are the cheater
But who needs KYC for crypto projects?But the point is, if the company or start-up project asks for kyc from hunters, they are not wrong in any way.
Kyc are not for investors only, as long as you will hold or holds a company's or start-up project equity share and have voting rights, you are a customer. What this simply means is that whether you bought the token or through bounty hunting but holds this token with the so called investors, there is no different between you hunter and an investor with cash.
Both of you holds the same token from this company and share equal right with them, which means that what an investor can do an this particular company, you as hunter holding the same token can do also.
The only difference is that the investors invested their cash and you invested your time and both of you holds the same token and shares equal rights. So if you say that you can't pass through kyc because you are a hunter, then you are the cheater
Most successful crypto "bitcoin" didn't even asked for anything?
So why these team have KYC as a part in it.
The biggest problem is not KYC generally, but the fact that some companies say no KYC is required and afterwards they change it.
It is just a tactic to steal investors money by saing that you didn't complete your verification.So if they need it really they have to ask for KYC initially then allow the investors to join on their projects.
I agree, they should do their verification in the beginning and either allow or disallow a participant. However, the problem with this is that you give away data and if the project doesn't raise enough and gets cancelled you gave your data for nothing.
KYC is indeed the pros and cons of the bounty hunters. I think everything depends on the regulations of each Bounty project. But they often change the rules they make themselves. At the beginning of the campaign they said that they did not use KYC, but they were after Bounty was finished. Each participant is given a KYC form and must pass KYC. This made some Bounty participants disappointed.
They put a gold rule about dynamic conditions on terms of the campaign in the bounty thread. KYC is not good for anonymous projects but bounty hunters are forced to cross it for having the rights to accept the bounty tokens. Jump to: