Topic: Why KYC should not be asked from the Bounty Participants! - page 2. (Read 551 times)
No KYC let's have the freedom of being faceless until we start making big money
I always refuse to join bounty which implemented KYC. It's all my privacy and I don't want give my privacy to someone which maybe can use it for something bad.
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
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.
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.
One more thing. It kills the concept of anonymity. We as a community of bounty hunters are supposed to be anonymous but with the laws bringing its fangs here, we can't do anything.
Just avoid those camps with KYC. You'd hate it too. Some of it were a waste of time.
The rules in KYC are sometimes a bit complicated if to hand over ktp I think it is not a problem, but sometimes it is requested to submit sim account of passport post like that sometimes we do not have it, so I think for the rule of KYC is better in just easy
I totally agree. Bounty hunters should not be required to provide KYC. Bounty hunters help the project party to do promotion and publicity. They do not participate in ICO. So it's not really a "customer." I originally participated in a project called XTRA (BitcoinHomework) and I helped them to do a 17-week publicity campaign. At first, nobody asked for KYC. In the process, I even volunteered to ask their project leader whether or not they needed KYC. The answer they gave me was not needed. But when the bounty event ended, they suddenly asked all participants to provide KYC before they could get coins. In my opinion this is a real liar. So now I won't participate in any bounty event that needs to provide KYC because these people are Faker!
Some bounties I've already done asked for KYC. Still, they gave our tokens after the campaign period. Maybe it's their safeguard purpose to protect their coin because what if the bounty hunter wants to trade his or her bounties for Ethereum or Bitcoin and will be used for malicious activities? Just a thought. 
Legislation with regard to crypto is vague at best, and interpretations vary wildly. I think a lot of ICOs are just trying to cover themselves in case of any attention from the authorities. I think the KYC stuff will continue at least until firm legal guidelines are established.
I agree with you. But I do not see anything wrong, bounty members are also kind of investors. 
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.
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 hate this kind of bounty aswell, KYC is for investors only not for bounty participants. However some bounty are doing this to filter bounty cheaters those who join a single bounty with 3 or more accounts. But personally i don't really like it, i want to protect my identity because it might be use for frauds and identity theft.
This is an easy problems. If you don't want to give KYC, you just don't participate in that bounty. Their bounty, their rule, your information, your choice. You absolutely have the right. Asking KYC is a effective way to avoid imposter, whales and scammers. This makes the bounty campaign fair.
I have no problem with it. I just hate KYC at end of bounty campaign. (they don't mention it from the beginning)
I have no problem with it. I just hate KYC at end of bounty campaign. (they don't mention it from the beginning)
Well, honestly I totally don't agree if the bounty participant being asked for a KYC.
Bounty participant doesn't event making a purchase on the coins, and the coins that we bounty participant doesn't get that much amount of the coins that the investor purchase.
So I don't think it's necessary for bounty participant to provide KYC.
Bounty participant doesn't event making a purchase on the coins, and the coins that we bounty participant doesn't get that much amount of the coins that the investor purchase.
So I don't think it's necessary for bounty participant to provide KYC.
I have ever participated the bounty campaign that requires the KYC. It seems to be so afraid when submitting the document to them. I don't buy the token, I only participated in their bounty. But, I must show my ID. Moreover, I only got the very small amount.
I think it is useless, but I must do it to claim my reward. Just try to fulfil what the team wants.
I think it is useless, but I must do it to claim my reward. Just try to fulfil what the team wants.
I think its important that ICOs explain why they need KYC from bounty hunters. Is it a new legislation in their country? Is it their way to ensure that 1 person is 1 user and not multiple users? They should be open about this, ideally from the beginning of the bounty so that bounty hunters can decide if they will join or not.
It is unbelievable when I started seeing ICO requesting bounty hunter to pass through Kyc and one thing that makes me to believe that this ICOs are scam is because they wouldn't indicate such requirement before bounty started, it's only when bounty hunters have help them sold out their token that they announce Kyc which doesn't suggest honesty and transparency in other words they have been successful in using the bounty hunters to achieve their goals and want to dupe them because they know majority won't be able to pass kyc. I am very sure 90 percent won't participate if they stated before bounty start that there will be Kyc.
So after analysing the whole thread and answers to my question it is fair enough to say that most of us hate being asked for the #KYC verification as bounty participants.
Key Point :
- Bounty should declare the KYC thing at the start of campaign (Probably no one will join them as matter of security)
- Bounty have no rights to ask for KYC of participant.
- Bounty Participants are not customers they are just promoters.
- KYC can compromise the participant-ICO relations quickly no matter what it means.
Thanks for sharing your reviews guys, appreciated it.
Key Point :
- Bounty should declare the KYC thing at the start of campaign (Probably no one will join them as matter of security)
- Bounty have no rights to ask for KYC of participant.
- Bounty Participants are not customers they are just promoters.
- KYC can compromise the participant-ICO relations quickly no matter what it means.
Thanks for sharing your reviews guys, appreciated it.
For customer, i think KYC is fair enough. When you didnt do anything wrong with your investment, then why should you be afraid with KYC ?
But for bounty hunter, its a different story.. i dont think it would be necessary to apply on bounties distribution, but they are the project owners, they can do anything they want.. one of their reason is to avoid a person with multiple accounts joining in 1 bounty.
But for bounty hunter, its a different story.. i dont think it would be necessary to apply on bounties distribution, but they are the project owners, they can do anything they want.. one of their reason is to avoid a person with multiple accounts joining in 1 bounty.
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.
in fact until now KYC is still in demand by many projects and we as bounty hunter forced to complete the procedure so that we can get paid from our work
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 totally disagree, if you don't like to fill in KYC or having trouble with it, then skip this bounty! Me personally have no problem with KYC and even I like projects with KYC, as they are more serious about their company/product. I think if you hold their product, then fill in KYC if they ask you to! Every ICO/bounty can make their rules and ask whatever they like, it is your choice to accept it or not! 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 think KYC is just a part of their privacy, but I hope it won't be applicable to us bounty hunters . What if we don't pass thier form. It's a kind of unfair to others. Hope KYC is just applicable for inventors only.
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