What does KYC gives you ? | Bitcointalksearch.org

clavirda

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Quote from: yaaansi on May 13, 2018, 09:37:44 AM

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

I like the goals of KYC, but so far I don’t like the technology itself. Unfortunately, now there is a situation where no platform can guarantee the protection of my personal data. Therefore, it seems to me that the technology should be further modified and improved.

harrypotpot

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Quote from: yaaansi on May 13, 2018, 09:37:44 AM

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

KYC I think gives me the risk? in some ways giving up my identity for a project in an easy way gives me risk so I think people should avoid doing it as they might used it against you in the future so be safe guys.

Christinebeauty

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Initially I didn't support this idea of bounty hunters going through a know your customer (KYC) process before claiming bounty tokens but I later came to understand it's essence in bounty because a lot of hunters are having multiple accounts so its very easy for them to cheat. The KYC helps to prevent such incidences

pedpedped101

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I can still consider kyc for bounty, but i do not think it is necessary.
Why should i consider it?
I have noticed that there are a lot of cheaters these days trying to steal other people's works. So if they have the consciousness of being eliminated peradventure they cannot comply, they will not want to waste their time in cheating.
It is nit necessary, because i feel KYC is meant for investors and not promoters.

Quintrix

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Quote from: yaaansi on May 13, 2018, 09:37:44 AM

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

This is to check if bounty hunters are abusing the campaign, and for investors for money laundering, either way, they are bad for decentralization which cryptocurrency has been preaching since the creation of Bitcoin so I will go against it.

craked5

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Actually KYC is a good procedure. It is needed in real companies to be legal. On the other hand illegal companies could use your personal data in whatever way they want.

Thyristor

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Quote from: shooleh on December 16, 2018, 02:51:24 PM

Until now, the Bounty project that uses KYC is better for me to avoid. Because they are very risky, they ask for my personal data and I also don't know them. Especially with the current conditions of many fake ICO projects. So as a bounty hunter I have to be careful about that.

KYC will be badly required for all the project if crypto regulated countries can not invest here. Many people try to fraud in bounty campaign for more reward now they can not do it for asking KYC it is another importance of KYC. But you can choice and decide in which project safe and not harmful for your personal data.

leavolnhals

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Quote from: yaaansi on May 13, 2018, 09:37:44 AM

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

When you submit your KYC for bounty campaigns, they will hold your data and it will cause significant consequences in the future. I really heard a lot of articles saying that selling personal information is dangerous because scammers can use our information to do it. So it's best to only participate in bounty campaigns that don't require KYC.

UnDerDoG81

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Quote from: terible.hunter on January 18, 2019, 07:30:31 AM

KYC all the same today brings nothing to people. Why people do not understand this so far, I do not understand. Because probably many still do not see the opportunity to not pass KYC.

KYC still brings some things for investors and project team. It helps the project team to filter out countries that cannot participate in the ICO under their laws. In addition, it makes it easier for them to focus on investors than before have KYC

hovrah

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Quote from: Vektrum on January 19, 2019, 02:53:03 AM

Quote from: Aiberg on January 13, 2019, 02:26:11 PM

KYC helps to curb the problem if multiple account registrations, I have to admit that it can be a pain the the posterior most times but I know that it is for the greater good.

KYC verification should not be applied where it is not explicitly provided by law or other by-law, because such verification directly violates our rights to the confidentiality of an individual. Since the activities of the ICO are not yet regulated, the ICO teams are not given the right to violate our privacy in this way. The United States and China protect their citizens from possible material losses, therefore restrictions on participation in the ICO apply only to investors who invest their money in ICO projects. These restrictions should not apply to bounty hunters.
To avoid multi-accounts (which, by the way, do not cause any harm to ICO), there are enough other, and more effective ways.

In this regard, I agree with you, since a more active advertising company ico brings only benefit. Yes, checking the personal data of nicknames for the head does not make any sense at all, because Headhunters earn, rather than invest their money.

Vektrum

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Quote from: Aiberg on January 13, 2019, 02:26:11 PM

KYC helps to curb the problem if multiple account registrations, I have to admit that it can be a pain the the posterior most times but I know that it is for the greater good.

KYC verification should not be applied where it is not explicitly provided by law or other by-law, because such verification directly violates our rights to the confidentiality of an individual. Since the activities of the ICO are not yet regulated, the ICO teams are not given the right to violate our privacy in this way. The United States and China protect their citizens from possible material losses, therefore restrictions on participation in the ICO apply only to investors who invest their money in ICO projects. These restrictions should not apply to bounty hunters.
To avoid multi-accounts (which, by the way, do not cause any harm to ICO), there are enough other, and more effective ways.

TradingIsBreath

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Quote from: yaaansi on May 13, 2018, 09:37:44 AM

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

I case of Airdrop/ICO there is free coin offering. So, KYC may to avoid same individual participating and collecting the the coins.

But, there are exchanges where you can even exchange your coins with but doing signup in any exchanges. Check out: https://coinswitch.co/

Enzo05

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KYC is required on other bounties to minimize cheater in that way it will be hard for cheaters to cheat because its require a legal identification document . I must say its a good idea and I am agree to it .

lehnelora

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This KYC actually has a very good goal. But for some reason many projects use KYC, but they don't give the coins they promised. And I personally also experienced this. We must be careful when making a choice before joining the ICO project.

kramchers

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It gives nothing good to me but to expose my identity and put on risk my documents.
KYC are only good for the ICO team, but nothing to investors nor bounty participants.
I hope KYC will never be in any ICO again, though they need it for their protection.

iged_war

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Quote from: Outlander on January 19, 2019, 12:18:26 AM

Quote from: yaaansi on May 13, 2018, 09:37:44 AM

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

Some projects will steal the KYC information of investors and then publish them on the network. I rarely participate in the ICO project by KYC.

this thing make us worry about our privacy.i am worry if after they collect our data they sell it on deep web.i will not give my identity to unknown projects just only for some dollars.

canaveralnonie

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Quote from: terible.hunter on January 18, 2019, 07:30:31 AM

KYC all the same today brings nothing to people. Why people do not understand this so far, I do not understand. Because probably many still do not see the opportunity to not pass KYC.

Good point of view, but in the other side... Why most of this thread see KYC is useless, I mean always has a shape as a negative one. Do anyone here knows that it will be a good and solid record if you are investors, your transaction will be listed on their database for good reason. That is my idea about KYC/AML, please enlighten me if I'm wrong.

Outlander

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Quote from: yaaansi on May 13, 2018, 09:37:44 AM

Hi.can someone tell me if KYC is ok ? what could be the effects of doing it especially in bounties/airdrops, they are requiring to pass KYC before joining

Some projects will steal the KYC information of investors and then publish them on the network. I rarely participate in the ICO project by KYC.

adamreb

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Personally, I do not like the technology KYC. The very idea of regulation was good. But now KYC is a real threat to user privacy. But after all, the idea of confidentiality was the main one when many cryptocurrencies were launched, now this situation can drastically worsen.

terible.hunter

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KYC all the same today brings nothing to people. Why people do not understand this so far, I do not understand. Because probably many still do not see the opportunity to not pass KYC.

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