KYC for ICO, is it good or bad idea?

[Viklopot]

I believe that KIS is not needed for ICO and its application is a bad idea. I think that KYC is harmful for cryptocurrency

[Lpim01]

I believe that KIS is not needed for ICO and its application is a bad idea. I think that KYC is harmful for cryptocurrency

I don't think so.  KYC is the way to filter scammers on the forum,  since we are already flooded around by them. There is a big money in here and they don't want scammers will survive that's is why they set-up these especially for investors. 

[mickey_miner]

I think that's a very good idea. but I doubt that KYC will scare away the scammers. They will not be difficult to forge documents and find people who will play the role of developers for money.

[SlickMoTwoToe]

I believe that KIS is not needed for ICO and its application is a bad idea. I think that KYC is harmful for cryptocurrency

I don't think so.  KYC is the way to filter scammers on the forum,  since we are already flooded around by them. There is a big money in here and they don't want scammers will survive that's is why they set-up these especially for investors. 

I agree, Kyc will bring security to some accounts that is a good idea for some ICO to have a trusted platform and to make their investors and participants to be safe for scams and other bugs in the system, It will bring security for their funds and profits.

[Lighthouze]

Most ICOs require KYC/AML and this must be completed for you to be eligible to invest in their project. This is because residents or citizens of certain countries like China, USA, etc are usually exempted from participating in most ICOs, so in order to ensure there are no violations of the rules, KYCs need to be done. Also, projects do it for fear of the SEC and I think it's a good idea, in order to run into trouble with them.

[romaleshc]

IMO, KYC and ICO are only needed for investors, not for bounty participants because the number of Token for sale accounts for 60%, and bounty is always less than 5% of Total Token Supply. Therefore, KYC should only be applied to those who buy Token directly from ICO projects so that one person can buy too many Token at the same time.

[carrigan]

It is like the blunder. Because it has both good and bad sides.
Good, it will reduce the spammer. It is also used to measure and determine that someone is available to participate in the ICO or not.
Bad, sometimes, it is very crucial to hide our identity because it should be anonymous. So, there is also worries that our id will be secure or not.

[amaydel]

I am not a pro KYC bounty hunter because even if bounty hunting doesn't involve money, my identity and personal information is more worthy than for me. I have read about how scam ICO's are using KYC documents as their way of earning profit by selling it to someone.

[Denreal]

I think KYC for ICO is very bad idea. How many final products do you know? why must I send docs then?

Which is more reason research is very essential. Then cryptocurrency operates in a decentralized manner, why then the need for KYC.
I am not saying a no to KYC, but any project demanding for KYC must be ready to prove the project is genuine and that the project has every legal backing to demand for such.

[Reatim]

I still don't understand why ICO requires kYC specially for bounty hunters or even investors. So I'm totally against it, what would happened to your personal information after the ICO itself? Will the ICO destroyed it or will they keep the data for later used? Its a bit scary so I'm really not comfortable with it.

[gurunanakji777]

Some investors always wants to be anonymous they don't want to share their personal details but nowadays many project developers are asking KYC because of policies of their countries and they need to comply with them and we have no choice to give them instead. But we can expect KYC procedure for investors certainly build some confidence in the investors mind. It shows some genuity of the project to some extent. I believe it will be helpful to reduce some frauds and as well increase the percentage of successful projects.

[TastyChillySauce00]

Some investors always wants to be anonymous they don't want to share their personal details but nowadays many project developers are asking KYC because of policies of their countries and they need to comply with them and we have no choice to give them instead. But we can expect KYC procedure for investors certainly build some confidence in the investors mind. It shows some genuity of the project to some extent. I believe it will be helpful to reduce some frauds and as well increase the percentage of successful projects.

Then the problem arise from the project itself, is it worth it to hand our important data to stranger which we dont know? KYC exist to prevent money laundry and it's not wrong ofcourse. but, we need to look further into the credibiity of the project so that we can be sure our data is not fall into unresponsible stranger's hand.

[Pline]

For me it is definitely good idea, because binance and other huge exchanges require passing KYC.
That's why I follow such ICOs

[I Choo?]

The idea is good. It is a pity that it will be extremely difficult to bring it to life. Now the ICO developers allegedly do not hide their identity,but they often use data from other people.

[Fluxtorrence9]

As I'm looking at this KYC issue I guess it will be a must in the future ,for example electroneum has implemented kyc for fast lighting payment from our phones ,chasing after PayPal abilities ,without KYC it would be impossible so I think in the future many won't have  choice than to follow every kyc procedure and to me its not that bad

[Fortified]

KYC sounds great but that means no more privacy. Which defeats the purpose of decentralization.

KYC is not good idea for crypto users. KYC should send ID card copy, in fact cryptocurency principles is protecting ID, so what is for KYC for cryptocurrency. I think later time ICO should be free from KYC. Becaue more people will send data to a central server. It is very fragile to get hacked.

Yes this is not really need for us here in cryptocurrency , in some country there's a Data Policy which requires not to expose I D and all personal data in the internet , but it can builds confident of the investors .

[nolestiket]

As an ordinary investor,it's bad for me, it's a big waste of time and the risk that your documents can be stolen.But I think if introduced KYC,it is required by the laws and it is unlikely to be around

[Prolifik]

Cryptocurrencies (mainly Bitcoin) were created to be free to use, pseudo-anonymous, decentralized.
But with KYC and AML - you are loosing all of these features. So it is good?

[Dr.Osh]

Cryptocurrencies (mainly Bitcoin) were created to be free to use, pseudo-anonymous, decentralized.
But with KYC and AML - you are loosing all of these features. So it is good?

well, it all depends on the project developed. Sometimes things like this are used as a means to wash money, because sometimes projects require KYC to find out who their investors are. Well, I don't think it's bad, but on the other hand it will eliminate other important points.

[keepandhold]

Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP,  use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.

This is just a great idea that will eliminate a certain percentage of bad projects, I support this initiative.