WHY SHOULD YOU BOYCOTT ICOS THAT DEMAND KYC?

[poutintsev]

KYC (Know Your Customer) is an infamous procedure we have mostly run into while dealing with banks.
Sadly for the whole blockchain industry we see many ICOs demanding KYC in vain.
Read below why you should boycott such ICOs:

https://medium.com/@filip.poutintsev/why-you-should-boycott-icos-that-demand-kyc-29a5b43904fb

[1715005574]

1715005574

[ICO Lancer]

I mean they're just covering themselves and playing it safe. I hate KYC as much as the next guy but it makes sense why they'd want to do it.

[crampus]

all probably know about ICO in which they asked to pass KYC in the end all passed, and they were told to pay extra for etherium

[Road445]

First, most of the bounty threads do not require KYC data.
Most people resist the need for a KYC bounty thread because it exposes privacy.

[Mr. Art]

ICO with KYC is far away from the main purpose about why cryptocurrency being created
because there is no privacy anymore in cryptocurrency if KYC procedure will be implementated on every crypto project
just my personal opinion  

[sunX3]

First, most of the bounty threads do not require KYC data.
Most people resist the need for a KYC bounty thread because it exposes privacy.

Which makes sense why a lot of people dislike KYC so much. I wouldn't send someone a scanned picture of my ID either

[JoBiLee]

First, most of the bounty threads do not require KYC data.
Most people resist the need for a KYC bounty thread because it exposes privacy.

Which makes sense why a lot of people dislike KYC so much. I wouldn't send someone a scanned picture of my ID either

Agree. Always ignore ICOs that ask for it.

[manlyxman]

First, most of the bounty threads do not require KYC data.
Most people resist the need for a KYC bounty thread because it exposes privacy.

Which makes sense why a lot of people dislike KYC so much. I wouldn't send someone a scanned picture of my ID either

Agree. Always ignore ICOs that ask for it.

Maybe if you trust them with your documents. This is unusual but if everything checks out, I'd consider it. Such ICOs are really rare though

[mariaana]

I consider KYC positively a good protection for investors and I am not boycotting.  Anonimity is always the game of crypto and there are people who are taking advantage of it.  KYC protects crypto from being used for money laundering and illegal deeds.

[BitcoinBallerina]

I would never participae in an ICO or bounty that requires know your customer to do anything. I do not wish to expose sensitive information of mine to people that are not trusted and then having my information sold and then used by hackers to carry out illegal activities. Don't do it people, this is not right and they should find a way to curb this because they are getting more and more everyday.

[GhostWithin]

ICO with KYC is far away from the main purpose about why cryptocurrency being created
because there is no privacy anymore in cryptocurrency if KYC procedure will be implementated on every crypto project
just my personal opinion  

Anonymity is not beneficial for the state. They will fight it. Therefore, more and more ICO will require KYC. After all, this is necessary for our security 
For the bounty this is a good way (the most effective at the moment) to deal with multi accounts.

But,

Be careful, when providing your personal information. There is always a probability different from zero that tomorrow you will take a loan in a bank of some country or you will be involved in money laundering and so on.

At a minimum, check to whom you transfer your personal data, the name of the company, which have registered the company, to whom, and so on. There are ICOs, where there is not a word about it, but they are demanding KYC. Such projects should be treated with double attention.

[zikabra]

First, most of the bounty threads do not require KYC data.
Most people resist the need for a KYC bounty thread because it exposes privacy.

Which makes sense why a lot of people dislike KYC so much. I wouldn't send someone a scanned picture of my ID either

Agree. Always ignore ICOs that ask for it.

I joined crypto community and I never agreed on KYC. I won't invest in any project which will enforce KYC but it seems that more and more projects are doing KYC and I think in future all projects will ask investors for identification.
Whole crypto is going into different direction.

[xOdiumNostrumx]

The fact is that right now 90+% of legitimate ICOs are requiring KYC. Especially the ones that stands out from the crowd and where the most ROI can be made. So in boycotting these you basically loose most of the opportunity to make big gains (ofc if that is your purpose in the crypto space).

[herromerro]

I don't like KYC requirements but as one said they try to play safe. Maybe they become more reputable project too by doing KYC.

[3kpk3]

The fact is that right now 90+% of legitimate ICOs are requiring KYC. Especially the ones that stands out from the crowd and where the most ROI can be made. So in boycotting these you basically loose most of the opportunity to make big gains (ofc if that is your purpose in the crypto space).

The entire KYC aspect goes against what Bitcoin and the cryptocurrency market stands for which is anonymity. My primary reason for investing into this market was because I was able to conduct financial transactions online without any outside interference by banks etc. KYC goes against this entire logic which is why I don't support and never will. If you are willing to participate in such campaigns, do your research since your personal details are at stake here.

[marcbitcoins]

ICO with KYC is far away from the main purpose about why cryptocurrency being created
because there is no privacy anymore in cryptocurrency if KYC procedure will be implementated on every crypto project
just my personal opinion  

The legit ICO can't do anything about KYC because it was required by the regulation for the protection of both the ICO owners and the investors to ensure Crypto currencies investments will not be a scam and it will not be in used money laundering. If the regulation will not required ICO to facilitate KYC then the ICO will very happy to oblige because KYC reduce the numbers of investors but i support KYC because as long as ICO is legit and we have nothing to hide then this requirement will be peace of cake for me.

[Sharcade02]

I think these KYC are just there requirements, the government is the one we should be blaming. If not because of their regulations, we wont be seeing these kind of authentications with our accounts.

[bitcoinliker999]

Very interesting!

[macchiato]

The KYC policy has its own good reason for implementing such rule. Besides, if it was announced earlier then investors nor bounty campaign participants have nothing to complain about. Also, complying to such rule is our own decision. The responsibility and the blame must not be shouldered by the team behind it entirely, maybe just 70%? Because 30% of it is the person himself deciding to risk his personal info despite of knowing that anything human-made is not completely secure.

[ShareAccepted]

It is very difficult to find ICOs that are not asking for KYC, this is the effect of having the US SEC invading the world with their own crap and threatining citizens all over the world.