Why KYC should not be asked from the Bounty Participants!

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: aussiesloth on May 20, 2018, 05:58:14 PM

I am 100% in favour of KYC for bounties.

Why? Because I don't try and cheat the system, and I know with absolute certainty that many other bounty hunters do. Multi-accounts, bots, using other people's account names... so many scammers out there, all reducing the stakes I should be rightfully receiving for my efforts.

So, I'm happy to see KYC, as it means there's a better chance I'll receive fair recompense for my efforts.

Remember, ICOs can set whatever rules they want, and if they want to set KYC for bounties, that is their prerogative. If you don't like it, don't do it. Simple... more stakes for me.

You are only thinking of the short term benefits that you're getting out of it, what it's going to happen when ico that is implementing know your customer policies steals your information and uses it or sells it, at that point you're not going to be that happy because from that point on your information will be on the Internet forever and that is not really a reassuring thought.

frowsiter

sr. member

Activity: 714

Merit: 261

Hm, this is really next level of the bounty programs these days. But for now we may not need to worry much because there are not many who are asking for the KYC. I agree that it could be pain in the back if some of them ask for KYC after working for months on the same project and getting nothing just because we are insecure about giving away out personal info. So yeah in that case it could be an unpleasant experience for us but I think managers will do take step forward and tell all the bounties that they shouldn't be asking for such critical documents. However there might be some who could be dominating one but in that case we should just let go everything.

zhaviabieber405

newbie

Activity: 88

Merit: 0

Well we're obviously not customers so I agree.

veraro

full member

Activity: 966

Merit: 100

Harmony for One and All

I agree with you but many projects which ask kyc from bounty hunters obviously not. They explain it because of legal norms in some countries.But some projects show the solution. They don't ask kyc from bonty hunters, instead of this they pay for bounty not with tokens but ethereum. I think it's a good solution.

alrez

newbie

Activity: 134

Merit: 0

The possibility of dev enforce kyc to overcome bounty or airdrops who use multiple accounts, they do not want to be fooled. But I think KYC is not the only way to do that, it's best to find other ways, such as IP address detection. I myself also do not agree that ICO impose KYC for their bounty participants or airdrops.

Hero of Legendary

jr. member

Activity: 94

Merit: 4

you are right bro but do we have a chance if this is the rules? Well the only way is to keep ourselves away from such campaign, asking kyc from the bounty hunters and the bad thing is, sometimes they ask it after the day of the campaign leaving no choice for the participants to provide or to earn nothing.

seviandyosi

newbie

Activity: 166

Merit: 0

With the terms of KYC is not hard I think will not matter. Because the participants, if they are told to do the gift-taking process, is very difficult is certainly very disappointing. Very true if with this KYC may reduce acts of fraud among the participants. But they've been long in following projects but very filling they fail, certainly, the work that they do is just pointless. And their spirit will also join the decline. KYC process with a very easy process will certainly be very helpful participants.

aussiesloth

member

Activity: 266

Merit: 41

I am 100% in favour of KYC for bounties.

Why? Because I don't try and cheat the system, and I know with absolute certainty that many other bounty hunters do. Multi-accounts, bots, using other people's account names... so many scammers out there, all reducing the stakes I should be rightfully receiving for my efforts.

So, I'm happy to see KYC, as it means there's a better chance I'll receive fair recompense for my efforts.

Remember, ICOs can set whatever rules they want, and if they want to set KYC for bounties, that is their prerogative. If you don't like it, don't do it. Simple... more stakes for me.

cewekimut

sr. member

Activity: 798

Merit: 250

The dev must have their certain consideration why the bounty hunters must pas the KYC. Besides to avoid the scammers, it may also be used to avoid the multi-account bounty hunters.
However, is that true? We know that all people in the bounty must work hard during the ICO and we don't stop promoting the ICO. After working for some months and hoping for some rewards, then it is failed because of KYC, it is such very big bad.
I know that KYC may be important. But at least, notify us at the early of the bounty so we can prepare it.

macit800

member

Activity: 322

Merit: 40

“The Premier Digital Asset Management Ecosystem”

More and more bounties are started with asking KYC for bounty participants. This has some benefits and disadvantages, but it is the own rules of the project. If their legal advisor/partner has adviced to do it on this way, then they are necessary to ask KYC to bounty participants.

StevenPop

newbie

Activity: 196

Merit: 0

OP is right, there is really no reason for bounty campaigns to be asking for know your customer. This defeats the whole point of cryptocurrencies in the first place. I personally do not feel comfortable giving my proof of identity to people I don't know and not even sure if their project would do well and then having my information sold. Every bounty hunter should boycott campaigns with KYC.

hashshashin

sr. member

Activity: 728

Merit: 250

Look ARROUND!

Each project has its own rules on this. I believe that the most important thing is that in a company bounty the company should immediately say whether to go through the KYC or not.

tresbien21

jr. member

Activity: 168

Merit: 5

I completely agree, it's not right at all for bounty hunters to be asked to send their personal documents in order to receive their rewards. I try to avoid this kind of thing, and i will sens my documents only if i reallt trust the ICO that i am promoting.

LuvdubNation

jr. member

Activity: 97

Merit: 3

KYC is required in some countries unless you want to get fined and go to jail.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: MUGOmugo on May 18, 2018, 01:34:26 AM

Quote from: oneidentity on May 17, 2018, 10:24:44 PM

I support the author's opinion. I do not understand why bounty hunters are forced to undergo this verification procedure. Kyc is created for investors, not for those who simply make the project an advertisement.

The bounty hunters asked this KYC to those participants because for them to verify that the participants only using one account per bounty, Actually KYC is just for verification and I think its good to hear.

Well I hope you're happy because from now on you will have to go through that process in most icos and in most bounty campaigns in which you participate and you better hope that you are able to select a good ico if you don't then it is very likely that you are going to lose your information to scammers and God knows what will they do with your information.

entrepmind23

sr. member

Activity: 644

Merit: 261

Quote from: ccsang on May 18, 2018, 09:45:52 PM

although I agreed with KYC should not be asked from the bounty participants, but bounty hunter no choice, how about you work for 2 month and finally need to pass KYC to receive reward, then no KYC=No Reward, so we must follow project dev any decison, even they don't paid to us, we also nothing can do, such as latest one is tokenpay

KYC is one of the hindrance why some bounty hunters cannot join the bounty campaigns because they have no supporting documents to verify their identity as some are still minors and wasn't able to get some identification cards. I have no problem with KYC myself but I think it should only be applicable to the investors of the ICO because the bounty participants are just promoters of the campaign but then if the team ask for the identity of the participant then we cannot do something about it as they are the one who will distribute the coins. You can have a choice of either not joining the campaign or submit the needed documents.

Quote from: warwar on May 18, 2018, 02:50:42 AM

It could be a scam or a legit one. But now mostly when im talking about those legit bounty manager those who had an KYC is those one that is really successful one, they do that because they will filter those bounty hunters that has a multiple accounts on their campaign but we should be careful because they could use your identity to fool others

It's a good way of filtering those who has multiple accounts as we know there are many people who will attempt to cheat especially if it has large bounty amount so asking for documents would be the best way to filter it. Submitting your documents though may impose a risk that your identity will be use for something illegal but if it is for a reputable manager and good campaign then I would just submit what I am supposed to.

ccsang

full member

Activity: 910

Merit: 103

although I agreed with KYC should not be asked from the bounty participants, but bounty hunter no choice, how about you work for 2 month and finally need to pass KYC to receive reward, then no KYC=No Reward, so we must follow project dev any decison, even they don't paid to us, we also nothing can do, such as latest one is tokenpay

Henisusan

sr. member

Activity: 658

Merit: 250

Quote from: ss890 on May 17, 2018, 12:14:51 PM

Let me get this straight, we are seeing many bounty campaigns are asking for the KYC verification from bounty participants which is completely wrong!

KYC is Know Your Customer document that is taken as proof of validity. But this is applicable to the "Customers" and by legal means Customer is personnel who has got trade with the seller/entity/organisation etc. So its obvious that they should be known to the service providers as they are going to invest their money. Knowing customer let them know they are having track of right person, with rightful money etc.

In case of bounty participants, they have no rights to ask for the KYC as they are not the real customers and they are not having any kind of trade with the ICO companies. Thats the sole and perfect reason why they should stop asking the KYC's from the participants.

Conclusion : If bounties asking for the KYC then they are surely going to be scam one or they want to screen out most of the participant to save their money.

I also completely think so. How can we consider as the costumer? KYC stands for Know Your Costumer, right? I realize that we are part of their promotion team. Well, actually it doesn't matter to ask us the KYC. But, I only feel worried about the document that I submitted to them Is that really secure?

Jet Kolet

jr. member

Activity: 98

Merit: 4

Quote from: Old God on May 17, 2018, 01:47:18 PM

Also, to avoid the cheating system, like farming coins by tons of fake accounts, so KYC is a good thing to make it more fair for all members.

this makes the fake account user more depressed, so in the days to come the fake account users can no longer follow the bounty because the failed in KYC does not get the token.

brjameng

sr. member

Activity: 742

Merit: 250

Perhaps someone has ever said this, I thing KYC should not be requested for the bounty participant, because most of us bounty participant will not hold the coins for a long period of time.
And also it is taking away our freedom to have a cryptocurrency, that supposed to be anonymous.

Topic: Why KYC should not be asked from the Bounty Participants! (Read 556 times)