KYC should be for big whales

[boolog]

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

Kyc is sometimes dictated by some countries when you start an ico and bountie campaign. The ico devs have no choice but to stick to it. You have to accept it or you have to look for another project.

[Osayo]

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 very much agree with you. According to the proponents of KYC, it is meant to combat money laundering. Money laundering is for huge sums of money which only whales can afford. I see no reason why someone buy a token of just $100 worth would be mandated to do KYC. Can someone actually launder a mere $100? I don't think there is any law in any country that would consider it money laundering.

[Chomsy]

Am totally with you on this. The most annoying part is that this kyc stuff is not brought up at the beginning of he bounty or airdrop rather, when it comes to distribution time. Not so good.

[crzybilly]

It is true, because everyone will only lose their time by providing the documents for a small airdrop or a 100 bucks contribution. Docs checking costs a lot of money and the KYC process should be for investors that have contributed with over 1000 USD.

[futuristishe]

About KYC already beaten topic. Very many times discussed. For investors, KYC is necessary for large investors. Who is willing to buy a large amount of tokens. For bounty participants, KYC should be for everyone. This will reduce the number of scammers, but the terms of the KYC should be negotiated immediately, to participate in the bounty.

[MiniMountain]

Am totally with you on this. The most annoying part is that this kyc stuff is not brought up at the beginning of he bounty or airdrop rather, when it comes to distribution time. Not so good.

Yeah! this is the issue on some bounty campaigns I joined before, announcing that they required KYC for every participants on few days of distribution wherein KYC on their website usually take 3-5 days to approve. I'm not against with KYC but I hope any projects out there should discuss this earlier as much as possible.

[UniversityCoin]

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

You say reasonable things and I agree with you. However, there are no generally accepted rules for conducting KYC, and each project decides how to carry out this procedure and what to demand from investors.

[damberg]

I understand the importance of KYC for investors (even small investors) from the organization's point of view. However, I also strongly disagree with KYC for bounty hunters.

[Nekoma2018]

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

No kyc for airdrop and bounties is very much reasonable.. it help protects investors and it helps limit the numbers of cheaters... trying to get more than they should

[BQ]

is it not to a large extent beyond the decision of the bounty managers? or is it Only in order to make sure it's not the same person applying multiple times?
although why would that matter, as long as the one person delivers the same amount of work, why can't he have 10 accounts? 

[Dacosta Osei-Tutu]

I don't think KYC should only be for big investors, KYC is simply to know your customer and customers are not only those with huge capitals. Anybody who owns some amount of the tokens is regarded as a customer n hence must be applied to everyone equally.

[the1arty]

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

They do not care about KYC for bounty and airdrops. They collect more data from users and who does not fill on time, means they have to pay less. The logic is simple and not great for people who is marketing their project, for hope to be paid one day.

[Oceat]

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 don't think putting a limit to someone when they want to buy something would help the market to boost, you should be lucky that we have had a whales because look at the market today. Think that someone has to buy with a limit and we had a bearish trend. What would you think will be the price today instead of $3600? Come to think about it. I have to problem with the KYC because it is all over the place already, i bet they(whales) do KYC too.

[bartusv]

KYC for airdrop and bounty participants is for avoid multiple accounts. It is OK if it is announced before the event
and everybody can decide to participate in it or not. It not OK if it is announced in the middle of the event or even
when the bounty has already finished

[fortelen]

It is already implemented. not just for big investors but uneven overall. even bounty is also required to conduct KYC as well with the goal of either avoiding a large number of fraud with your account. KYC does have a pretty good function to avoid scammers and unwanted things on crypto.

[nonbody]

I also strongly agree with this point of view. KYC will reject a large number of bounty hunters. The result is that the forum's visits are very low and simply do not achieve the purpose of propaganda.

[Snaic]

I strongly agree with your opinions as KYC is to control money laundering and fraud and the bounty hunters only collect small amount of btc or dollars when it converts to fiat or BTC money, so it must be for big investor not for bounty hunters.

In addition, bounty hunters do not invest in ICO projects at all, and therefore they cannot also be considered clients to be tested by KYC. Checking KYC in relation to bounty hunters is generally illegal. We need government regulation of ICO activities and in connection with this urgent problem. Not only investors, bounty hunters also need to be protected from abuse by the ICO team.

[- ESPERS -]

         I do not agree with you. KYC is very beneficial to the crypto market. KYC has to go, both big investors and small investors. To prevent cheating, KYC is a gold mine. KYC is also suitable for reward hunters to prevent multiple accounts. But something is missing. I think KYC and team members should pass a project when this is added to the bitcointalk. This would significantly reduce the number of SCAM projects.

[johnleo]

I couldn't agree more with you but I think we can't force the developer to do it, many smart team already did base on my experience. I already made such rule for myself, if bounty or airdrop ask kyc I will not join and if they apply such rule in the middle of campaign I will make estimation how much reward I will receive and if it small I will leave it to them.

[Ostonian]

Almost all projects require the passage of kyc, regardless of the amount of investment. Many exchanges for withdrawal and deposit of funds also require the passage of kyc. Bounty campaigns slowly introduce this procedure. So at a pace, kyc will soon be an obligation for everyone, no matter what you want. And I understand that this will be correct.