Why KYC should not be asked from the Bounty Participants!

South Park

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Quote from: aussiesloth on May 20, 2018, 06:58:14 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

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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

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Well we're obviously not customers so I agree.

veraro

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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

South Park

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Quote from: MUGOmugo on May 18, 2018, 02:34:26 AM

Quote from: oneidentity on May 17, 2018, 11:24:44 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

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Quote from: ccsang on May 18, 2018, 10:45:52 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, 03:50:42 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

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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

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Quote from: ss890 on May 17, 2018, 01:14:51 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

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Quote from: Old God on May 17, 2018, 02:47:18 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

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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.

dayne18

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No KYC let's have the freedom of being faceless until we start making big money

culberth

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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.

warwar

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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

shinharu10282016

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Quote from: ss890 on May 17, 2018, 01:14:51 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.

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.

BoyWilliam

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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

huhansan

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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!

emmanmalaman

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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. Grin

AndreLi

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Quote from: styca on May 17, 2018, 01:38:09 PM

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.

Meraki

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Quote from: ss890 on May 17, 2018, 01:14:51 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 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.

genset88

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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)

gerbas

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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.

nemey

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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.

chrisfatos

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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.

Pamela1966

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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.

ss890

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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.

DogmaF10

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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.

MUGOmugo

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Quote from: oneidentity on May 17, 2018, 11:24:44 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.

Ojengonggu

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Trphy.io

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

Gelesko

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Quote from: ss890 on May 17, 2018, 01:14:51 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 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!

Cheenguboc143

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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.

frowsiter

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There is no way we can stop them from getting that information as they are making their own rules. However I do agree that you are KYC is not pre-reuqisite or shouldn't be one for the bounty programs. I mean come on its like getting chocolates and candies from your parents and however before you could get that you have to provide validity proof to your parents that you are their child. Lol.

It does kinda seem like that only and hence its really not valid one. But we cant do anything in this matter as we are in the decentralised world and we have to walk the way they want.

samcrypto

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Quote from: oneidentity on May 17, 2018, 11:24:44 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.

Definitely, and this is why I don’t participate on a bounty campaign that requires me to provide personal details. KYC should be provided carefully by everyone, that’s for your own safety so don’t give easily your information.

3kpk3

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I agree with what you are saying here op. KYC goes against the entire core logic of the cryptocurrency market which is helping users conduct financial transactions online in an anonymous manner without any sort of outside interference by banks etc. I never supported this KYC concept from the beginning and urged users to avoid it whenever they could, but campaigns are literally forcing people to fill them up these days which is downright messed up. Such campaigns need to be boycotted.

Turkish88

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One of the part of KYC for bounty hunter is disqualifing multi-accounts and residents wich countries cant be part in this project for exclude further problems

jcarlo

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Many ICOs right now asking for KYC document to fullfill government regulation, and i think that is good for investor safety. Maybe bounty hunters asked for KYC document because bounty hunters investing on their project with efforts on social media or else.

fortelen

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I'm also still confused about the needs of KYC for the bounty hunters. If for the customer, yeah it is true they will need it. But for the bounty hunters?
I only guess that this way is for eliminating some scammers or people with the multi-account. Along with this, we can do nothing. Their rules should be obligated or we cannot get the rewards.

Fedor2018

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Absolutely agree with the author. with such a procedure as the SSC faced a couple of times, and it is very annoying, do not want to know where to send your document data. I understand that all the bases merge and it is unknown in which hands will get this information

arrmia11

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Definitely true, bounty campaign should not require bounty hunters to do the KYC since it is only for the customers or clients of the project that they are promoting. Personal information and security is very important and some of the bounties are scam so we doesn't know if it will secure are informations are not. Although not all are like that, I admit that I still do KYC whenever the bounty is requiring to make sure that they'll gonna pay me.

Leyss

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The requirement for a participant in the ICO signature campaign to undergo a KYC check is indeed illegal, as we are not investors. The meaning of this check is to prevent the laundering of dirty money. Therefore, such a requirement to us is illegal. No ICO campaign has ever explained or referred to any regulatory act permitting or requiring them to conduct such verification against those who advertise their campaign in the same way that ICO signatories do. Moreover, this is simply a fraud if the ICO team without any warning requires us to undergo such verification after the completion of the ICO. This can really be explained only by the desire not to pay the earned tokens.

okissabam

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I think asking for a KYC is okay for those with big rewards in bounty campaigns, of course you would need some verification for the people who gets those rewards because some will invest on that certain coin especially if the ICO was successful.

herurist

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Quote from: ss890 on May 17, 2018, 01:14:51 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.

KYC is project policy, whatever the reason we as bounty hunter should follow the rules. If you don't like KYC process just join bounty program that not ask about this, simple isn't?. For some people, KYC is difficult because they afraid the data can be use for something wrong and that's natural. Positive thinking about this and keep going.

Zandra

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Quote from: oneidentity on May 17, 2018, 11:24:44 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.

Yes I also agree what he say about the KYC.
Honestly I'm pretty worried to give my personal information, and most of the bounty campaign are required to do the KYC or know your costumer. As far as I know the only need to pass kyc is the investors not bounty.

Augustyusuf

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i think KYC is a must for token holder, neither he buyer or a bounty hunters, first for hunters it can filter greedy people who is doing double or triple entry and didnt found by bounty manager.

yitai2020

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This is an unfortunate news. More and more bounty calls for the provision of KGC. In order to maintain legal compliance, there will be no resistance for future exchanges, so this is a trend and inevitable. There is no way to avoid it.

mbah

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actually, I very much agree with what you say. but some of the bounties did not provide information at the beginning does need KYC or not. and this information sometimes appears at the end of the bounty. so, of course, participants must provide their KYC to receive what they are working on. If you still do not want to necessarily pay will not be given. or it could be said this system is a little forced.

ukiert

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Quote from: aldrin6697 on May 17, 2018, 11:09:34 PM

KYC is not that important when it comes to bounty hunters cause they did their work in doing and earning a token.

If I were the heck did you not all project was doing KYC regulation depends on whether his project should do karivikasi KYC IF NOT YES CAN NOT SALARY if not doing KYC

oneidentity

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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.

WolkGold

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In my opinion, that is not true. It is governed by the laws that govern the application of globally applicable financial regulations and certain banking-related policies. Therefore, companies that construct blockchain design ideas in these stereotypes must apply KYC - which is like a rule, a measure of deterrence and restriction of terrorism or a KYC-based act. They define their customers specifically for marketing and management policies later.

ukiert

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Quote from: karanggatak on May 17, 2018, 06:12:53 PM

I think that's because the bounty participant did not invest their money in the project. so strange if someone bounty participant KYC asked. and in my opinion KYC function is as a safeguard for someone not to use the ico platform as a money laundering container.

I also don't count if the problem is not that long since the KYC is detrimental to not need to be in the damn it is also for the sake of our security as well, so there is no problem in the end the result later

Nggedebus

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Quote from: didzi on May 17, 2018, 01:20:06 PM

KYC is bad in cryptocurrency,,
for investors or bounty participants, because its far away from the main purpose why cryptocurrency being created
as i know, basicly cryptocurrency focused on how to protect the privacy from all the users

I think, I agree with this, since cryptocurrency made based on anonymity, that way it will ensure every transaction made with it.
And then KYC came, it makes the anonymity became pufff, gone forever.

aldrin6697

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KYC is not that important when it comes to bounty hunters cause they did their work in doing and earning a token.

Krismanto

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Quote from: ss890 on May 17, 2018, 01:14:51 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.

Maybe we should be careful in finding the ICO project. For now, there are a couple of projects at the beginning of the project to the gift of the participants do not need to use KYC. And this is very helpful if at first you such information. And I feel the use of KYC very risky because it uses personal data to verify.

Casmania

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Quote from: arthotdog on May 17, 2018, 10:30:27 PM

Quote from: ss890 on May 17, 2018, 01:35:17 PM

Quote from: Jmartins on May 17, 2018, 01:25:43 PM

Kyc is good for for the contributing customers but I see no reason why bounty hunters should do kyc. They are not investors but promoters. The difference is clear.

That is the obvious thing I want to publish here and hopefully managers will see it and implement the rules for the same at the start of bounty. This way people can know that they are planning to get our KYC's done after the bounty and thus we dont end up loosing our time and efforts after working for the 6-8 months on single bounty! Thats really breath taking period to wait for the tokens and if they do something like this and if we dont trust the forming company then what? How can we get the tokens. Its better they should have some rules about this now a days.

In my personal opinion KYC has being asked by the company or manager because they wanna prevent the participations of the cheaters,as we know that most of bounty hunters are using multiple accounts when we know that it was against the rules,rule of campaign and rule of forum that we can only join by single account,but this cheaters are joining together with their alts,im not into KYC because this one has taking our privacy but its companies policy and it's their prerogative as they might say IF YOU DONT WANT TO FOLLOW OUR RULES,THEN YOURE FREE TO FIND ANOTHER CAMPAIGN THAT FITS YOUR DEMANDS

P.s. Just personal opinion and i guess its free

Account farming is the main reason for this KYC matters and as this kind of strategy for those managing bounty campaigns, cheaters will be lessen so far. Multiple accounts is rampant now in the campaigns that has been roaming around the bounties sections. Some of them were endorsing scam project and some were failure ICO. That's why sometime in a bounty campaigns they didn't implement stric KYC.

Ereun

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Activity: 322

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They still need KYC for token distribution and if this is not done or does not follow their rules then the tokens are retained and not given to bounty participants.

arthotdog

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Activity: 462

Merit: 100

Quote from: ss890 on May 17, 2018, 01:35:17 PM

Quote from: Jmartins on May 17, 2018, 01:25:43 PM

Kyc is good for for the contributing customers but I see no reason why bounty hunters should do kyc. They are not investors but promoters. The difference is clear.

That is the obvious thing I want to publish here and hopefully managers will see it and implement the rules for the same at the start of bounty. This way people can know that they are planning to get our KYC's done after the bounty and thus we dont end up loosing our time and efforts after working for the 6-8 months on single bounty! Thats really breath taking period to wait for the tokens and if they do something like this and if we dont trust the forming company then what? How can we get the tokens. Its better they should have some rules about this now a days.

In my personal opinion KYC has being asked by the company or manager because they wanna prevent the participations of the cheaters,as we know that most of bounty hunters are using multiple accounts when we know that it was against the rules,rule of campaign and rule of forum that we can only join by single account,but this cheaters are joining together with their alts,im not into KYC because this one has taking our privacy but its companies policy and it's their prerogative as they might say IF YOU DONT WANT TO FOLLOW OUR RULES,THEN YOURE FREE TO FIND ANOTHER CAMPAIGN THAT FITS YOUR DEMANDS

P.s. Just personal opinion and i guess its free

waynechong1995

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Activity: 644

Merit: 117

swing!

Well its know your customer and bounty members like us are total different from that, its usually used to keep businessed informed for who they are serving, like their investors, we are basically individual marketers and since the requirements are very clear about what should we achieve, it was unncessary to know who we are, an address will do.

cryptothief

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Activity: 350

Merit: 41

Quote from: styca on May 17, 2018, 01:38:09 PM

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.

This is my interpretation too - at least for most projects anyway - basically just protecting themselves from future legislation, especially if they are based in a country that doesn't actively support crypto. Obviously there are scam projects that just want to grab some data, but most of these project types are (hopefully) relatively easy to spot if you follow the general checks.

grknondr

member

Activity: 182

Merit: 20

I agree with you. The bounty participants should not cope with KYC duty but I dont see any difference between buying token or earning from bounties. They all have same meaning. Maybe, KYCs can be more simple when compared to investor KYC.

cynta

member

Activity: 165

Merit: 10

If all dev understands that,,, then we will not be complicated on the terms of KYC. I agree with your explanation,,, hopefully no more KYC is enforced.

Pa1n

member

Activity: 294

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JOIN THE NEXT MEGATREND IN CRYPTO!

People afraid of giving information in KYC.Kyc is good thing but people(participants) dont love this.I dont like too.Its very challenging.

ifanxu

newbie

Activity: 140

Merit: 0

Yes, I agree with your point of view, so I do not participate in any KYC bounty. I am really afraid of my personal information being abused.

extict12

newbie

Activity: 43

Merit: 0

im on your side bro.. cryptocurrency will be down because of kyc. KYC Kills the anonimomity of the crypto world.

South Park

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I am terrible at Fantasy Football!!!

Quote from: ss890 on May 17, 2018, 01:14:51 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.

While I agree with your sentiment I'm not so sure that I agree with you argumentation, the whole point of know your customer.policies is to know who gets possession of the coins, and it doesn't matter if you get a million coins or just a single one they are going to ask that information of you since a bounty hunter is going to get tokens from the bounty.

paulmaritz

sr. member

Activity: 672

Merit: 274

KYC is not ideal when it comes to cryptocurrencies, but I can understand why some players require KYC when it comes to certain cryptos, especially cryptos that are deemed securities and not currencies per say.

E.g. there are established players in the financial industry that are moving into cryptos. They have the licenses required to take investment capital from the public, trade and/or invest on their behalf and market their tokens as securities. Whether we like it or not, they are required to do KYC.

Now if I as a bounty hunter receive compensation in the form of their tokens, which are securities, then logic dictates - whether I like it or not - that KYC is required of me as well.

In addition, given the flood of bad actors in many bounty programs as of lately, I actually welcome KYC to some extent (regardless of my previous thoughts on the matter). Another benefit of KYC is that it encourages one to take the extra mile when it comes to doing one's own due diligence. E.g. a project and associated bounty program must be of high quality and reputable before I will get involved, especially if KYC is required. I won't hand over that information to just anyone.

Afrizky R

newbie

Activity: 180

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Quote from: ss890 on May 17, 2018, 01:14:51 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.

this is my most confused, why bounty participants also play a role in the KYC when we do not contribute to the purchase of the project token,
the bounty hunter is actually just someone who helps introduce a project to the crowd in various ways that have been determined so that the project becomes an attraction for people who are interested to follow it

indeed some existing projects are now asking bounties to follow KYC otherwise their work will not be paid, how can this happen after the project is almost over and asked whether to follow or ignore it

karanggatak

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I think that's because the bounty participant did not invest their money in the project. so strange if someone bounty participant KYC asked. and in my opinion KYC function is as a safeguard for someone not to use the ico platform as a money laundering container.

Sonajin_Coin

newbie

Activity: 35

Merit: 0

I think KYC shouldn't be asked of Bounty Participants personally and in general avoided, unless a coin or ICO is based on a jurisdiction that legally requires it.
If it is asked it should be the minimum legal requirements and in keeping with the maximum amount of privacy. I'm certain Satoshi never would have asked or agreed to it.

vasil777

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Activity: 546

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I also believe that this is unacceptable when a bounty hunters are required by the KYC. Yes, I understand when KYC are held by investors, but not bounty hunters. I am afraid to send a KYC, because my documents may fall into the hands of fraudsters.

askmecrypto

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Activity: 406

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Quote from: ss890 on May 17, 2018, 01:14:51 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.

Ok, first of all, KYC is not solely required for customers, if you are out there working for an organization, even they do your background verification. May be what we require here is the term "KYC" is not correct, even though we are not customers to them, but in a way we are getting employed by them and we are employees to promote there project.

There is nothing wrong about KYC if you are joining legit bounty programs, on the other hand, joining scammy ICO bounties and giving your KYC documents to them is very risky. So you must decide well enough about there legitimacy before joining the program.

Pet240

jr. member

Activity: 486

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To me, bounty hunters are not customers that should do KYC, bounty hunters are just promoters of projects. So, since they are not buying, there should be no need for any form of KYC.

cryptogeek101

sr. member

Activity: 798

Merit: 250

homt.net

KYC is against the ideology of our crypto fathers who proposed decentralization and anonymity of the financial world. Carrying out KYC for bounty participants is like exposing their identity. Many crypto participants don't even have the materials for the KCY so some managers tend to deprived them of their bounty reward.

CryptoAlphaStar

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Activity: 574

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Well, in a perfect world I can agree that bounty participants shouldn't be subject to KYC policy. However, we are getting tokens and from legal perspective there is not much difference if we paid fiat or crypto to acquire the tokens or whether we did some work for it.

Umkar

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Quote from: ss890 on May 17, 2018, 01:14:51 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 absolutely agree with your arguments. The KYC check is designed to prevent money laundering. Signature campaign participants are not investors of ICO campaigns, they do not invest their money and it is therefore foolish of them to require a KYC review. If you understand, then we provide advertising services for ICO projects and ICO campaigns are our customers. We do not pay them, but they pay us. Therefore, they are our customers. They should come to the KYC check, if at all. In addition, it is necessary to establish a minimum investment limit, the excess of which may cause such a check. And then we will soon get to such an absurdity that when we order the same cup of coffee, we will be required to pass a KYC test. In everything, a measure is needed and it is not necessary to turn a useful undertaking into an absurdity.

escalante28

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Well KYC has advantages and disadvantages.
Know Your Customer (KYC) procedures are a critical function to assess and monitor customer risk and a legal requirement to comply with Anti-Money Laundering (AML) Laws. Providing identification information for KYC compliance may seem cumbersome but it is an important one-time activity that can now be done completely online. Using the KYC option you can reduce the hassles of physical documentation and complete the process easily and quickly online. Remember, by becoming KYC verified, you are only enabling higher levels of security, preventing identity theft and safeguarding your own interest.

The disadvantages of this is, what if they will use your identity for their own interest? What is your assurance that your identity is protected?
How legit they are?

I was really annoyed when bounty hunters was ask to do a KYC in the first place hunter is not a customer, second what for?
and lastly when they asking for a KYC, why ask for our passport as an ID if we can provide our government ID? Not all bounty hunters has a passport. That is unfair.

Encelad

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Activity: 294

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KYC for many unscrupulous project owners is one of the tools to not pay you for the work. Recently, this method of "scam" has become very common. Many project owners specifically do not say anything about it at the beginning of the bounty. They do this when all the work is done, which is also not right. I do not support this approach to business.

Sony.UK

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Quote from: ss890 on May 17, 2018, 01:14:51 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.

Since ICO project owners and CEOs want to promote them on decentralized platform. They should ask the KYC details for both the bounty campaigners and the investors on pre and post sale time.
Actually this forum is operated for decentralized medium. So there is no place for the people who is getting promotion here and ask for KYC details from the forum member. They always looking to be anonymous in the forum and elsewhere too.

Old God

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Activity: 434

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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.

Sova_tmb

jr. member

Activity: 378

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I don't see nothing bad. Kyc its a normal thing and many bounty have limit for participants above 18 years old .

kindbtc

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SAPG Pre-Sale Live on Uniswap!

I will partially agree with the thread starter i think bounty hunters generally play part in promoting the ico so they are the integral part of the marketing strategy for the ico to spread the word around in a targetted manner so they can be classified as marketing free lancers and do not fall in customer category but as they will be holding the tokens the company does have the right to know who they are sending their tokens too for regulatory compliance.

teskostecenje

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Imo its not so bad untill they start doing exit scams and sell our documents to other people.Kyc for bounty participants help out to fight people making a lot of alt profiles and taking part in bounty with them

BEZOP

newbie

Activity: 168

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if KYC to investors I strongly agree because they have a clear investment in ico
but if bounty hunter requested KYC, I strongly disagree as we are just a participant who wants to support the success of the project and what is the point of our identity as a hunter Huh

what will be done with our identity if we already receive payment?

moderator must issue a new regulation about bounty .. do not just issue a merit system that makes it difficult to up rank ..
we difficulty up rank and now difficulty in receiving payment .. this is really unfair ..

katelynsk

member

Activity: 98

Merit: 13

KYC really seems like an extra measure for bounty programs. Moreover, it is much worse when verification is required not right away but at the final stage!

Of course, certain monetary operations require security measures, but in the bounty, the turnover of funds is not so large as to complicate the procedure so much. Nevertheless, as a way of minimizing fraud, it must work, but the number of those who want to participate in programs become less as well.

However, everything depends on the legislation of countries which want to limit anonymity and strengthen control over the cryptocurrency. Most likely, in the coming years this will be even more widespread. So, no matter how annoyed we are with this practice, we have to put up with the demands or refuse to participate, the complaints do not change anything.

styca

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Activity: 1078

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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.

ss890

sr. member

Activity: 644

Merit: 263

Quote from: Jmartins on May 17, 2018, 01:25:43 PM

Kyc is good for for the contributing customers but I see no reason why bounty hunters should do kyc. They are not investors but promoters. The difference is clear.

That is the obvious thing I want to publish here and hopefully managers will see it and implement the rules for the same at the start of bounty. This way people can know that they are planning to get our KYC's done after the bounty and thus we dont end up loosing our time and efforts after working for the 6-8 months on single bounty! Thats really breath taking period to wait for the tokens and if they do something like this and if we dont trust the forming company then what? How can we get the tokens. Its better they should have some rules about this now a days.

Jmartins

newbie

Activity: 19

Merit: 0

Kyc is good for for the contributing customers but I see no reason why bounty hunters should do kyc. They are not investors but promoters. The difference is clear.

didzi

sr. member

Activity: 1092

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Hodlers Network

KYC is bad in cryptocurrency,,
for investors or bounty participants, because its far away from the main purpose why cryptocurrency being created
as i know, basicly cryptocurrency focused on how to protect the privacy from all the users

ss890

sr. member

Activity: 644

Merit: 263

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.

Topic: Why KYC should not be asked from the Bounty Participants! (Read 551 times)