KYC to receive bounty rewards.

[SpringfieldM1A]

Things like this should be regulated seriously. Guys, here's a crazy idea but hear me out. We're the rightful authority when it comes to cryptocurrencies. (When I say we, I mean the btctalk.org community) And if there will be a court like regulative system that will ban or greenlight ico's, this should be done by us. After all we're the first ones to see when a project is launched, we're the first ones to see when it's labeled as a scam and usually we have good reasons to label as a scam but sometimes, just shit fud is lowering the reputation of a good project.

The idea is that the court decides whether a project is scam or not. This would benefit the market even more, as the decision doesn't have to be cease & desist. Some projects might be promising with some flaws and the court could encourage the project team to fix those flaws.

The other thing court would be useful for is that it gives a chance for a team to defend themselves, they might mean nothing bad but sometimes shit happens and getting labeled as a scam just because a misunderstanding is just unfair.

So... Let's build a court!

[chaoscoinz]

I just passing by in the Bounties(Altcoins) section to find some good project and participate to one of their campaign and there's one campaign I've visited and asking for KYC in order to receive the bounty reward.
Actually I've seen someone asking in the meta section about this topic but I forgot where was it.

Well I will just going to give my opinions about here in the altcoins section because I know most of the participants of the bounty programs are posting here.

KYC (Know Your Customer)
A KYC (Know Your Customer) is used to ensure that the people who're going to invest to a project are qualified for example they have a record about criminality, immigrants, etc. then they will not going to allow you to invest in their project,  This was used to review the investor and make sure they credibility of the investor and also KYC is used to fight money laundering.

Now let's go back to the topic. I've seen some bounty programs that's asking for KYC documents in order to receive bounty I don't think it's necessary to ask KYC Documents from the bounty participants because:

1. They don't Invest in the project.
2. There's no need to ask for the credibility of the user for promoting their project.

However I've seen some people are still participating in the bounty program, I just want to know you the risk you're about to face when you submit a KYC document to a untrusted project/program:

• They may use your details to fraud.
• You may be accused for something that you didn't do.
• Identity Theft
• Etc.

Well all in the KYC documents are your personal information and It can be used to different illegal things. But after all it's the decision of the participant if he/she's going to submit KYC or not. I just want you to be aware guys that you should be responsible for choosing what program/project you're going to join.

PS. I didn't say that the bounty project that's asking for KYC is scam or any fraud related, I suggest to study the project itself first as well as the team behind that.... and the reason why they need your KYC document for participating in their bounty program.

The answer will never be a straight one, because a line of division is drawn when it comes to centralization and decentralization.
Many feel that centralization within the crypto sphere, is benign, defeating what purpose Bitcoin was originally founded upon.
Others like myself, feel that a degree of centralization is neccessary, even required for crypto in it's current state of affairs to be successful.
   The blockchain has created an entire ecosystem of a decentralized market. Project after project is being created to add towards the crypto space. So many ideas, meshing together. It was only a matter of time before parliament would decide to get along. Now that the governments have had their say so, the price fell from it's all time high.
   Patients is the only thing needed at this point and time. Expect more regulation to come, this is the year they've chosen to act upon immediately.

[Cocoincos]

I am thinking about it, and I agree with KYC - where we say our country and email, and thats all, why more? where is decentralization?

[temilade200]

KYC for bounty participants is like restricting the involvement of participants in such project, because personally, i do not like the issue of KYC for bounty participants who have given their all or are about to give there time and other resources, in promoting and supporting the project. KYC should be strictly prohibited for bounty participants.

[Boristhecat]

Nobody likes KYC (and I do not see any reason to spend it for bounty hunters), but companies are trying to protect themselves from all possible legal problems, so they are often too tough on this issue. I try not to participate in campaigns where KYC is mandatory.

[jooj]

Nobody likes KYC (and I do not see any reason to spend it for bounty hunters), but companies are trying to protect themselves from all possible legal problems, so they are often too tough on this issue. I try not to participate in campaigns where KYC is mandatory.

Maybe this good if they mentioned that requirement from the start of the campaign. in the rules required for the campaign.

- Who agree to submit their personal data to any person or company, Why entered the world of cryptocurrencies ?

- do you guys submit KYC for each project has kyc required, when you trade any scrutiny tokens on exchanges?

[Spaffin]

I have not yet seen the ICO team demanding to pass a KYC check, referred to any regulatory legal acts that give them the right to demand from us as participants in the generosity campaign of their ICO project, the right to conduct such verification. Not state bodies, but civilians, often being fraudsters, require us to provide our identification data and copies of documents, while themselves, in fact, remain unknown. The publication of photographs showing the name and surname does not prove anything.

[Kolya albina]

I also asked why bounty participants were asked to give KYC, I argue for bounty participants should not be required to give KYC because they do not invest.

everyone will be suspicious and afraid that their personal data will be misused as if the participants of the gift are forced and powerless to oppose the giving of KCY, as participants expect payment for their hard work.

[aussiesloth]

There are basically one two reasons ICOs are asking bounty participants for KYC details.

1. Their lawyers advised them to do it, to ensure compliance with whatever regulations exist in the project's country of origin or intended country of trading.  ICOs don't want or need to go to the trouble of KYC if it isn't necessary, so they are only doing it because their lawyers state it is necessary.  It costs them money getting in highly-regarded third-party KYC processor.

2. Scam

You, as the participant, have to determine whether you trust the project.  Simple.

[dmitriy-saphv]

I just passing by in the Bounties(Altcoins) section to find some good project and participate to one of their campaign and there's one campaign I've visited and asking for KYC in order to receive the bounty reward.
Actually I've seen someone asking in the meta section about this topic but I forgot where was it.

Well I will just going to give my opinions about here in the altcoins section because I know most of the participants of the bounty programs are posting here.

KYC (Know Your Customer)
A KYC (Know Your Customer) is used to ensure that the people who're going to invest to a project are qualified for example they have a record about criminality, immigrants, etc. then they will not going to allow you to invest in their project,  This was used to review the investor and make sure they credibility of the investor and also KYC is used to fight money laundering.

Now let's go back to the topic. I've seen some bounty programs that's asking for KYC documents in order to receive bounty I don't think it's necessary to ask KYC Documents from the bounty participants because:

1. They don't Invest in the project.
2. There's no need to ask for the credibility of the user for promoting their project.

However I've seen some people are still participating in the bounty program, I just want to know you the risk you're about to face when you submit a KYC document to a untrusted project/program:

• They may use your details to fraud.
• You may be accused for something that you didn't do.
• Identity Theft
• Etc.

Well all in the KYC documents are your personal information and It can be used to different illegal things. But after all it's the decision of the participant if he/she's going to submit KYC or not. I just want you to be aware guys that you should be responsible for choosing what program/project you're going to join.

PS. I didn't say that the bounty project that's asking for KYC is scam or any fraud related, I suggest to study the project itself first as well as the team behind that.... and the reason why they need your KYC document for participating in their bounty program.

Those ICO projects that ask for identity documents should give confirmation after the end that they are not scammers, this is confirmed by someone most likely, but even if they see my passport what will happen next?  they won't have nothing to do with him that I'm only what to put it on the Internet and mock me.

[Google+]

yes you are right if just to get paid bounty need to use passport and a very sensitive identity to be given as a requirement to get paid bounty seems very horrible because the data you provide can be used for bad things.

[onlyyou34]

I think KYC is right for bounty distribution. Multiple entries are blocked in this way.
We are all angry, but it is imperative to do this for fair distribution.

[Sandra999]

In my opinion, most times, I do not think kyc is important to claim rewards from bounties. The most annoying part is that, some projects do not talk about kyc until after the hunters must have finished doing their work, the project now announces kyc. That is not good. Projects are to announce this before the hunters start promotion.

At the other hand too, kyc is good too to eliminate multiple accounts

[bit..what?]

Since there are so many scams, i am against kyc. I can never be 100% sure who I give my data to.
That's why I give up on bountys demanding kyc.

[Carisba]

I  personally do not like kyc for bounty rewards because we can't full trust the team

[NewBet]

I don't think that know your customer at the end of bounty programs are a good idea because if we are being honest, a good percentage of these bounties have useless projects and people are just doing it in order to get some free money and not because they believe the project will do good so I don't feel good about giving my identity to some dead end company.

[jerimarsella]

Projects that use KYC mending if I did not participate because he feared the private data we can later be abused. I will be looking for projects that might be a time of payment do not use KYC. And I know the purpose of KYC is very good to reduce the multi-user accounts. And for projects that use the KYC is typically a larger result.

[Ronni]

For me, doing KYC is very risky because you will give your information to a group of people which you do not even know well, it is very dangerous because those information can be used in different things without you knowing it. I disagree with this KYC process being ruled to bounty participants too, you are right that "they are not investing", so why do you need to know their complete information and also ID. But in the end it's up to the participant.

[engesi]

In my opinion, most times, I do not think kyc is important to claim rewards from bounties. The most annoying part is that, some projects do not talk about kyc until after the hunters must have finished doing their work, the project now announces kyc. That is not good. Projects are to announce this before the hunters start promotion.

At the other hand too, kyc is good too to eliminate multiple accounts

This is like treating your KYC as a ransom and redeeming your bounty. Anyway this is unpleasant. Why is it not specified at the very beginning of the bounty campaign?

[MakeMoneyBtc]

It is very dangerous to participate in this kinds of bounties and I don't see a reason why they would need that information since everything is going on here on bitcointalk. It is very easy to create a simple website then start a campaign here asking for KYC and it cost you only a few hundred dollars but they can steal lot of information from people. When you send them photos with your ID or bills they can future create accounts on other websites and use your information there to verify their accounts.