KYC as a Scam

[vova.andreyan.94]

This happens quite often, so sometimes you have to participate in this procedure if you want to pick up your reward!

[@rt27]

Simply, KYC is scam if you think it is always used in scam purposes.
Know your costumer is a step to know more about them in order to exclude the scammers as long as possible. KYC purpose depends on what the motives of the team by implementing such process.

[monkeyking03]

Simply, KYC is scam if you think it is always used in scam purposes.
Know your costumer is a step to know more about them in order to exclude the scammers as long as possible. KYC purpose depends on what the motives of the team by implementing such process.

Your right but for bounty hunter i think kyc is not needed..only for ico investors.

[Mkmanik]

KYC is good way to reduce bot or others Scammers. It is also good way to payment for real user, should announce KYC mandatory to participate campaign.

KYC is good we know it. but I am afraid to provide my document some unknown people. who knows how they use my document? they also can sell my Documents for some quick money. So why I don't like to do KYC at all.

[Andrey13101991]

This happens quite often, so sometimes you have to participate in this procedure if you want to pick up your reward!

I do not like the fact that they oblige us to go through the KYC at the end of the bounty campaign. Such a procedure must be reported when the company starts.

[Sanford]

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

What do you mean by project protection? Protecting projects? This is all fiction as it is not so difficult now to go through this procedure. I do not know who aspires to this procedure possible government. To know that we own a cryptocurrency. There are bounty managers who constantly use this procedure, you just need to know them so as not to consider them fraudsters.

[yakushev]

KYC is good way to reduce bot or others Scammers. It is also good way to payment for real user, should announce KYC mandatory to participate campaign.

KYC is good we know it. but I am afraid to provide my document some unknown people. who knows how they use my document? they also can sell my Documents for some quick money. So why I don't like to do KYC at all.

That's it. When you pass the KYC you give your confidential data that you do not know how will be used. No one will give you a guarantee that all the information you send will remain confidential.

[Gurjasmeet]

Although KYC is required some projects due to legal problem. but lot of people should not have interested in that projects. because they thought their  personal data can be misused by the scampers.

[Automaticbae]

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

This have become the other of the day in the crypt world. Take a look at Masternet Bounty program that did not include KYC among the rules and regulations, but now they have added it as a requirements to pay hunters for their rewards. These guys are just cheat as they might possible fail a lot of hunter because they do not want to pay us. It disgusting for real and this are part of the reasons a lot of us see KYC as Scam to deny hunters their rewards.

[Nekoma2018]

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

Yes.. this is a tactic used by project developers to reduce the amount of tokens to be distributed... my experience in crypto has taught me to never trust developers of ico's

[timberfox]

KYC as a procedure is a good way to protect a project. It's a good tool in right hands.
But sometimes it is a scammer's hand. No one wants his personal data to be made publicly available.
If I see an announcement about  KYC I will leave the project. My personal data is more important than some money.

[the1arty]

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

Not really a scam, but sometimes it is really protecting your funds. Like airtoken, centra, paragon. SEC can see who been the real contributors and they contact you back, to help you to refund your investment.
However, those scams ICO's who collect your data may use it not in a very legal field, which is a shame to the industry.

[creeps]

Simply, KYC is scam if you think it is always used in scam purposes.
Know your costumer is a step to know more about them in order to exclude the scammers as long as possible. KYC purpose depends on what the motives of the team by implementing such process.

Your right but for bounty hunter i think kyc is not needed..only for ico investors.

It still depend on the rules of the team, because as far as i know a lot of cheaters on a bounty campaign so I think KYC is one way to block those cheaters and greedy to earn money. KYC can be use against us, so make sure that you will just participate on a good project, its the risk on this cryptomarket if you can’t handle it don’t take it.

[Koobtcgal]

I have participated in such bounty campaigns. What I have learnt is that it isn't their fault. Sometimes, they face legal issues and are forced to do kyc even for the bounty hunter. I will not say it is a planned scam.
By the way, if you are ready to do bounties, why don't you get yourself ready for kyc, which is an easy thing to do.

[Dobby070]

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

Maybe they can use it as a tool to scam bounty hunters. But, if you can read their post in bitcointalk that they have the right to change the rules within the period, it is just in the period not included when the bounty is finished so you have the right to protest.

[oppo070]

Sometimes projects have to add the kyc procedure due to some legal issues. We can only see the top of the iceberg above the water, but its biggest part is hidden deep under it. We can be unhappy with the new rules, but sometimes it is the only way to pay the stakes out.

Yes, maybe they just following up the legal issues that's why there's a sudden rule change in the bounty. But the worse part there is that, bounty hunters are not going to get their tokens/coins if they not comply.

[fortunecrypto]

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

Bounty manager who do that had the risk of not getting trusted by bounty hunters, this is one of the risk of bounty hunters, they have stated in their rules and guidelines that they can change their rules anytime even without prior notice, so you have a choice to proceed or not.

[judyrob]

This indeed becomes an obstacle for many bounty hunters on this. but many have already applied the rules of notification this KYC in the beginning and it will be better to notice. Indeed if KYC already scams then this is a bad thing because the identity is compromised if misused.

[ringgo96]

This indeed becomes an obstacle for many bounty hunters on this. but many have already applied the rules of notification this KYC in the beginning and it will be better to notice. Indeed if KYC already scams then this is a bad thing because the identity is compromised if misused.

We are actually pretty good at being able to detect fraud in the bounty. as we know that nowadays there are many who cheat in following the bounty campaign and this is detrimental to other participants

[fibrolit]

There are a lot of projects that need an KYC of course it is a good idea also to protect their project so that they will know who's dealing with them.But there are some projects that starting from beginning they don't have an KYC required but when it come to the time that they need to distribute the stakes of bounty hunters they are asking for KYC,if the bounty hunter can not comply this where is their stake goes?if the project require an KYC they must announce it from the beginning not in distribution time.

Here on the forum is useless to discuss these issues.While there is no state regulation of ICO, all of us, and investors and bounty hunters will be powerless.