KYC should be for big whales

[rachman mahesa]

just the difference is that if you send your data somewhere to the wrong company, your data can be used on the black market/dark net

that's what I've been afraid of with the KYC process that was requested in the campaigns I followed. if there is an error or misuse of data, we can be in trouble.

If you do the Kyc on the right project, it certainly won't be a problem. If the project is suspicious, of course, don't ever do KYC there. As said above it will be misused and as you say also that we might get into trouble if the identity is used by irresponsible people or on the black market

[1713898082]

1713898082

[Chomsy]

The way KYC is being handled now is not good sometimes but in other way, it's useful. Kyc fishes out bounty or airdrop farmers, this is the positive aspect of it.

[Leema]

I think the reasons for kyc in bounties is to tackle multiple accounts users. It's not fair if a participant earn more than 10% of a particular campaign by adding so much clones, sometimes , too much requirement shouldn't be asked from bounty hunters,  but a few documents is fine.

[catsmile]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

In fact, big investors are always required to kyc, so this recommendation is not necessary. Besides, bounty hunters are required to verify their identity because the project wants to be fair to everyone. There are many people who create multiple accounts.

[integrity42]

It seems to me that whales, like everyone else, should decide for themselves whether or not to go through the KYC, because initially the cryptocurrency is a place where everything is anonymous.

[GhostWithin]

It seems to me that whales, like everyone else, should decide for themselves whether or not to go through the KYC, because initially the cryptocurrency is a place where everything is anonymous.

Anonymity is the enemy of any state. As cryptocurrency is integrated in different areas of out life, they will become less and less anonymous.

[Perfect35]

Whales do not always invest in ICO, so they do not need kyc. Most of them are into trading.
I noticed that retail investors are those who buy most ICOs and that is why so many of the find it difficult to attain their soft caps.

[adekogbe]

I totally disagree that KYC Ought to be for whales alone, KYC ought to be accomplished for everybody and on the off chance that you are not happy with that, you can skip investing.
Whales are very important in the market today, they provide some form of stability and of couse some of them control the market.
I think everyone should be seen as equal to KYC should be for everybody

[Wintersoldier]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

It is to ensure that every member will going to be a legit people that will going to join their project, and if you will going to think of an alternative way in order to make the most of the market by keeping track of their investors, KYC is the best, though it can be distracting for us bounty hunters and small investors, we should follow their protocols.

[Argoo]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

Totally agree with you. KYC checks should be carried out only for investors. And even not everyone, but only those who buy tokens for large sums. This will be in accordance with the general rule that such an inspection is conducted only for the purpose of preventing the laundering of dirty money and the fight against the financing of terrorism.
In this regard, conducting a KYC check for bounty hunters is completely illegal, because we do not buy tokens in the process of participating in the ICO bounty campaigns. The KYC check after the end of the ICO looks especially wild, it can definitely be called fraud by the ICO team.

[Moiyah]

I stopped for a moment and think twice about your statement. Somehow, it makes really sense to issue some KYC for some big investors. It won't be hassle for us who are just a normal and small investors. If a particular exchanges will gonna accept this proposal, there couldn't be big problems if both the parties agreed upon this thing. But I guess , this KYC thing will still continue to raise some  issues even for the big investors. The fact that you are submitting your personal info is a serious matter.

[qomariah95]

Now, of course KYC applies to investors, bounty and airdrop. There is nothing we can do now unless we have to do it. I am here as a bounty participant doing KYC as a condition for participating in each bounty. If you don't like Kyc, of course don't ever participate in the bounty.

[adncoin]

KYC is an important process to know an individual’s identity and address proof. It helps to safeguard against money laundering and other fraudulent activities. This process is required to be done especially within the crypto industry. It shouldn't only be for big investors, but for all, as it ensures authenticity and security to users.

[Apes]

Now, of course KYC applies to investors, bounty and airdrop. There is nothing we can do now unless we have to do it. I am here as a bounty participant doing KYC as a condition for participating in each bounty. If you don't like Kyc, of course don't ever participate in the bounty.

how many tokens did you receive from bounty hunt. if you get 1BTC are indeed worth doing KYC, what if the token you receive is of no value, but your identity were sold and used for crime. I strongly oppose the KYC treatment for bounties and small investors. KYC is Mandatory for big investors.

[trauchot]

I fully agree with you, but unfortunately many companies come up with different rules and introduce KYC at any time for them for bounty hunters and airdrops to specifically weed out more people and then they will can pay much less tokens.

[setialovers]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

In my opinion, big whales never invest in ICOs, for them, its better to pump coin or token in market. Its profitable for them and its quick profits. If they are invest at early, they must be invest in IEOs because most IEOs token price always rising when listed in market

[silver23]

i am also afraid to join bounty or invest in some project with must to pass KYC.
you know, i have heared project with bounty and invest must pass KYC and that project is scam from ICO.
some next day, admin is gone and some people there have a cyber crime that access with used ID from that participant.
i don't know that is just hoax or not, but i am now afraid join project with KYC.

[XFlowZion]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

As far as I know, there are only two reasons why ICO bounties implements KYC right from the beginning or in the end of the campaign. One is because if the jurisdiction in their country and second is for not wanting to pay all of the participants. If KYC happens at the end, then there is a 90% chance that it is because of the second reason because if they already know it is in the jurisdiction then they should have told us right from the start. But they don't and they see it as a huge benefit with having a lot of participant giving them free service.

[CryptoAlphaStar]

Well, looking at it straightfordwardly, yes! It has to be for big whales and significant sums of money.
However, scammers may created hundreds of accounts and launder small sums through each of them, instead of doing it via one big account.
That's why, it is not so simple.

[BeManga]

I'm here today to drop my own point about how KYC should be use
- KYC requirement for bounties and airdrops is so unreasonable ,KYC implementation is no doubt a good idea but it should be forced only on big investors that wants to buy large amount of a token either From Exchanges
- there should be limit for KYC requirements e.g like if an investor wants to buy 10,000$ worths of tokens upward then he or she must go through KYC ,just saying

i agree its really unreasonable because bounty hunter is not investor
so for me i dont participate if the bounty campaign that need some KYC
i only submit kyc if i plan to invest in the project but its still also not right if the user will only invest small amount