Bitcoin Forum

Many ICOs have KYC requirements now and do not allow people from several countries (incl. USA, China, etc).  In case anyone is affected by this, pls have a look here: https://bitcointalk.org/index.php?topic=2805785.0

In fact, this is a very good idea. Just some campaigns sometimes require communication via Skype. But I do not think that this will be a big problem.

This is awesome idea, a win win situation for investor who from restricted country. But how this system work ? you just do the kyc service for their account and you get pay, or pay at front with escrow service ?

I will regularly list the ICO's that I am subscribing to in that thread.  If anyone needs me to get tokens for them from those ICOs, they can PM me and I will set up an EtherWallet for each ICO. Everyones contribution can go there and that will be the wallet which will be used to send funds and receive tokens for that ICO. Once tokens are received, they can be distributed to investors. I will update the thread at every step to make it as transparent as possible.  

If people prefer to use Escrow, I am open to that as well.

It's an unknown middleman. I wouldn't just trust a random person who says he's from another country just like that. I mean I see that people have to worry about ICO's being a scam, and now adding another layer.

Then if legit, what if something happens to that person? What if they pass away?

Very valid points, am open to discuss how to make it all more comfortable for investors.   

Did you mean if you are acting as a middle party for those investors are interested in buying shares, but they don't wanna to complete KYC verification? But the problem of there is a limitation for each participant in the ico. And can you give me an opinion about how to solve it?

Thats why you need another party such an escrow, KYC in ICO is really serious and dont even think is not important. You dont want to get any trouble because of it right ?

If you want to subscribe in larger amounts, you need to contact the team for that ICO, and they will take your request in private generally.

But it would be something very difficult to get implemented on most ICO's in here, since most of them are just applying and licking the ass of the SEC and all that real shit.
Anyway, KYC is very disgusting, that is why i am trying to avoid that kind of icos.

Escrow is a good idea. Also doing your own research before submitting sensitive info is a must.
I mean, if the ICO is fake, the project is also fake. And if you are careful enough you can avoid most of those.

Another idea is to just avoid those. There are still good projects with no KYC requirements. More the people giving out easily their info, more the projects that will ask for them...

Although this is a good idea, it can also allow the banned people to participate in ICO crowdfunding.
But why do we choose to trust you? Choose to trust a stranger who has never met? How to solve the trust problem? ??? ???

What do you mean banned people? 

And yes, the trust part is a problem that we need to collectively come up with a solution for.

I would trust to do this kind of problem long-standing member of this forum, with positive trust. When such offers are a beginner, trust not very much.

Well I understand your thought, but the reality is member accounts on this forum are bought and sold like candy.   Though I have been a member for a while, and use my real account to gain information and post questions , I made a new account specifically for this purpose (ICO subscription).

KYC its good for excluding multiaccounts, but we must know about it from beginning before bounty campaign.
Many users want to keep anonymous, and second reason dev's can lost documents on hacking

agree

I agree with this idea, the problem is the trust issue of the one who is offering this service. Since you are a newbie it'll be hard for investors to trust their money with you. I guess you need to have some proofs of this. An escrow would be a good idea.

And why does the development team don't like multiaccounts? What the difference for advertisement of the project if there are two persons or just one?
No, I think they need KYC to collect the knowledge who exactly are their clients to select the target audience.

For me this kind of general rule that they need  KYC for ICO is just a kind of hassle thing but to think it more safier and more secured and maybe as I think they only deflect people with mulitiple accounts, so that it won't easily allow to apply for their ICO's .

Probably they don't like multiaccounts when they have individual limits.

They need KYC because some countries have different restrictions on ICOs (not to the general concept of ICO but on the specific fields of the current ones).
Is it safe to whitelist someone's ethereum address on your personal data? It seems too easy to avoid this step. Also I still can't fully understand this because the further token transfers are not controlled by KYC and cand be blocked.

There are pros and cons in kyc, but i disagree with this kyc. Because I think many difficult investors to do this verification and some ID Cards from the state can not be accepted in kyc, this is obviously detrimental to investors. We can see from the utrust project, there are many investors who complain of not being able to verify their account and there are investors who ask for their investment funds to be returned.

I will advice you get some credibility on the forum before thinking of doing that. you are still a newbie and I don't think community will trust you on that.
Atleast get to a hero member then people might try to believe you. As a newbie or even a jnr member. That's a red flag for me.
my opinion

I agree with the KYC policy. I worked in a bank before and this KYC policy would help a lot in the identification (true identity) of clients. They can easily be tracked if there are problems and possibilities of fraud will diminish. This policy will also avoid fraudulent activities and scams. However, there should be a standard regulations for this e.g IDs as what others are concerned of.

Member accounts are bought and sold like candy here and provide no credibility for a transaction.

Would you be open to taking suggestions on potential investments in certain ICO's?

Why do some countries like the US banned from ICO's? https://crypterium.io/ was a large ICO and took USA residents so why can't others?

Hey sorry for the trouble but was hoping to send you a pm from a new account but I'm getting this...

"User 'ICO-Master' has not chosen to allow messages from newbies. You should post in their relevant thread to remind them to enable this setting."

I have fixed the setting and you can now send me PM.  Please fix your setting under Personal message Options so I can reply.

i have done one campaign last year and until now i havnt paid yet because the manager said that the KYC nt yet release. i laways encounter this word KYC. what thus KYC mean?

Banking terminology for Know Your Client.  Usually requires identity verification (and in the case of banking, verifying source of funds).

Very interesting....I wonder who would've done this for Polymath's airdrop lol.

I am not directly effected but I don't understand what the need is for this for ICOs. I mean I think it does more harm than help and besides if the ICO is a scam it will only hurt and not help anybody.

I don't understand why the need for KYC and how it can protect investors. I think that for investors, this procedure is undesirable. I'm against it.

I'm actually surprise about this KYC requirement for investors and even in signature, telegram and social media campaign because as far as I know cryptos as made to become anonymous but with KYC you need to disclose some personal imformations especially in ICOs does this means they put restrictions as to whom investment and opportunities will only be available?

I missed Polymath. What was special about it?


I reserve the right to refuse any ICO based on if I feel it's a scam.

I support this opinion. I try to circumvent all these KYC checks and do it only in extreme cases when the ICO team suddenly changes their mind about the KYC check when I have been participating in the ICO bounty campaign for a long time.
I believe that ICO teams need to begin to implement the FATF recommendations of June 21 this year and require bounty hunters to undergo such a test if the amount of tokens we receive exceeds one thousand dollars. And then, here you need to finally make sure whether such a requirement on KYC applies to those who not only send transactions in cryptocurrency for this amount, but also receive it. In any case, it is time to stop demanding a KYC check if such amounts are very small.

It is definitely a good service. Americans and Chinese actually have a lot of difficulty buying tokens at some ICO projects.
But now KYC types are sold at very low prices, about 1 $ / KYC.
It seems that the creator of this service has offered a high fee.

But it would be something very difficult to get implemented on most ICO's in here, since most of them are just applying and licking the ass of the SEC and all that real shit.
Anyway, KYC is very disgusting, that is why i am trying to avoid that kind of icos.

You can avoid them if you don't like so you can find the other project without having KYC. I think there are many other projects which don't have KYC, and they allow the investor or the participants to join with them. The KYC is only a process to verify the investor and the participants before they can participate and invest with them. And if people don't want, the project cannot force them to do the verification.

I am sure that the project wants to know who their customer so they use KYC to get the information of the customer. I think that it is reasonable to see the project seeks to protect their project so only people who want to support their project will join with them.

The United States and China are implementing strict regulations for a new project. In fact, not only new projects, exchangers that have long existed are sometimes banned from operating in America if they do not meet the requirements because there will be large fines. An example is binance, a large exchanger that specializes in making exchangers for Americans and only certain coins are listed on the new exchanger

Nowadays, it is much easier to get an ID from telegram sellers and take part in ICOs without any problems. The idea is great, but I do not see a point to pay fee, when you can just buy a valid document on a black market, potentially from scam ICOs, that are selling it there  :D

if this is the fact that happen in dark web or black market, we have to very becarefull with our personal data.few days ago i am read headline news from my locak media, that said many people trade their own data.just contact him and request personal data so we didn't need to use our own data to participate in ICO or bounty campaign.

Keep avoiding until you get zero ICO to join because believe me that as we progress in this crypto industry, things would become a little bit more complicated and KYC also would not be exceptional. We have always ask for regulation, and what do you think regulation is going to be all about, for government to be able to regulate the cryptocurrency world, they must definitely have access to data of its users.

Do you ever think that Binance will ever give in to US demand on letting them have access to user’s KYC? But today, many of us have seen how they are even creating special domain for them to have access to their citizen’s data. So my friend, better you get used to this KYC because all ICO in a little time will surely demand for it always without exemption.

If you invest your money then KYC you must do real. That there would be no problems later. In general, I do not like the KYC procedure.

Not only kyc is prohibited for some countries, but some ico and ieo projects also forbid users from several countries to participate in investing in their sales, and for some reason the two major US and China countries often get banned in various iCO or IEO projects.

If you are an investor, of course KYC is a must when you want to invest. Even if you do not like to do it, like it or not it must be done.

It is common for projects to conduct ICOs and investors are required to conduct KYC. So, this is not a big problem in my opinion.

For me,,, unless the project is really worth my time and I would want to visit it and even make it a real part of my life rather than an investment purely for the sake of dumping when price is right, I would not mind KYC.

The PROBLEM is not giving my identity, the problem is knowing what will happen to my information. If projects cannot even manage their work and development, how can they manage your identities?

is this related to Donald Trump's statement that said something negative about crypto? so there is a prohibition. if for china, we already know that even a few years ago China had stated its rejection.

Why use the services of unknown intermediaries for passing KYC, if there are many ways how to send this KYC with fictional or other people's data? I do not see this as a big problem. Now there are technical possibilities to change and retouch any documents. I try not to use the KYC check at all, sometimes I send my documents, however there are situations when the required documents are simply impossible to present due to the peculiarities of the national legislation. Then you have to show imagination.

I wonder what happened to those KYC documents from investors and bounty participants who joined SCAMMED ICO before.
That is one biggest fall of cryptocurrency, that SCAM ICO PROJECTS made the community suffer alot.
I hope this time we can turn the table around.

I do not agree to send my IDs to any one, if I should pass KYC I should go to exchanges only, never send your IDs to ICOs websites, many ICOs were a scam.

Instead of sending your funds to a pool like this that is centrally held, there are other less risky ways to circumvent the KYC issues especially for those that don't want to risk their identities falling into the hands of crooks, one of those ways is to pay people to do the procedure for you, there are services that does this, this way you can control your own funds.