KYC should be for big whales

[TastyChillySauce00]

I also believe that passing KYC in order to get a few dollars tokens in an airdrop is absurd. Even if a person buys tokens during an ICO in the amount of $200- $300, then this is also not so large a sum to require KYC. We do not show a passport and a receipt from the bank to buy some things in the online store.

Even if it is $200 or $300 it is still money and can be used for paundering. Imagine people splitting their money into that amount to avoid KYC.
However I do agree that airdrop should not require KYC because it is too risky for the users.

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[mangsitin]

I agree. For a bounty hunter, it's unnecessary. only troubles us. it doesn't matter if you just submit your identity card. but, we are obliged to submit the bill and a photo of ourselves. we only get coins based on our work. moreover what we get is not much. but they actually make it difficult for us.

Yes, I strongly agree with you, I do not agree with KYC regulations for Bounty participants, because honestly I am very afraid of my personal data being used for bad things by them, because we know our free data is given to others only for a few Tokens.

[xianbits]

This is a very controversial issue. On the one hand, it is unreasonable to require the participants of the bounty to pass the KYC procedure, but on the other hand it helps to fight fraud. Therefore, KYC is not so difficult for them. Investors in any case must pass the KYC, this requirement is in almost all projects.

And it should not limit onlybto big whales as it is not their fault if they have enough big funds to buy as much tokens as they want. Big or small amount, if Kyc is being required, then everyone should submit.

[axel2078]

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 should be required for all participants in ICO, which is a mandatory rule. But for bounty and airdrop, it's funny. There are no reasons or laws that require bounty and airdrop to KYC participants so they can receive rewards from their hard work.

[lutcor]

Such events will probably never happen, the whole thing is solely that the so-called whales now probably will not pass the KYC because they will now have a huge impact not only on the cryptocurrency world. These are influential people in our world.

[cudora]

KYC should be done by every investor and bounty hunter. I can understand that you do not need to make a KYC for a regular airdrop but if you want to share big rewards you need to prove your identity.

[5thFear]

There shouldn't be any KYC. It just goes against the whole theme of cryptocurrencies. Cryptos were made to be fast, anonymous, free of control and easy for the users. With KYC, it becomes another extension of the old banking system.

[legendster]

KYC for big investors is already required in every project, even small investors are required to verify KYC but not as complex as big investors, and KYC for bounty is to avoid multiple account fraud

More importantly, it is there so gov. agencies can track any "unexpected millionaires" which they were unable to do so with Bitcoin & phase 1 cryptos.

[jaywizzy]

Yes, I total agree with you I don't think there should be kyc for both airdrops and bounty campaign.

[Spaffin]

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

Of course, conducting KYC checks in ICO projects should be used only for those who invest large sums. Only for citizens of the United States and China, whose governments expressly prohibit their citizens from investing in ICO projects, they should be denied investment, regardless of the amount of investment.
With respect to bounty hunters, there should be no KYC verification at all, since they are not investors in ICO projects. Such a KYC check on bounty hunters is illegal and contrary to the very nature of the KYC check, which is conducted to prevent the fight against money laundering.

[moon sorcerers]

I agree. For a bounty hunter, it's unnecessary. only troubles us. it doesn't matter if you just submit your identity card. but, we are obliged to submit the bill and a photo of ourselves. we only get coins based on our work. moreover what we get is not much. but they actually make it difficult for us.

Yes, I strongly agree with you, I do not agree with KYC regulations for Bounty participants, because honestly I am very afraid of my personal data being used for bad things by them, because we know our free data is given to others only for a few Tokens.

I also do not agree with the existence of KYC on bounty hunters, indeed the security of personal data that we provide
is not guaranteed to be safe so it is very risky to be misused by irresponsible people

[amos77978]

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

Yes,you are so right i agreed with you.......KYC  should be meant for those who want to buy large amount of token via exchange .

[canaveralnonie]

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

Yes,you are so right i agreed with you.......KYC  should be meant for those who want to buy large amount of token via exchange .

What is the difference between small amount and large amount buyer of token? In the first place, they both buy and invest money on that specific project. Crypto currency became famous because of being anonymous of sender and receiver, so better to stop KYC and protect the identity of all the users around the world.

[UnruffledST]

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 honestly can't believe that most people are saying that KYC should only be for bigs whales, wether a ICO does KYC depends on the country in which it is incorporated in!!!

and most likely if KYC is required in a country only wealthy investors are able to invest in thus project. so for all those arguing that it should only be for big whales you aren't technically supposed to be participating in the project if they do KYC still again this mostly depends on the country in which the project is incorporated and which countries they restrict from participating.


Research you laws, wow.

[Tahdayi]

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 think that the difference is not big you are the holder of the amount of money or small , I think all participants must pass kyc for ico as it can reduce the chances of Scam !

[canaveralnonie]

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 honestly can't believe that most people are saying that KYC should only be for bigs whales, wether a ICO does KYC depends on the country in which it is incorporated in!!!

and most likely if KYC is required in a country only wealthy investors are able to invest in thus project. so for all those arguing that it should only be for big whales you aren't technically supposed to be participating in the project if they do KYC still again this mostly depends on the country in which the project is incorporated and which countries they restrict from participating.


Research you laws, wow.

Excellent point of idea. Also, I see KYC as a security measurement to protect not only the project but also those important customers/investors as their history of transaction.
Its better to let KYC be required to those bounty campaign participant, to avoid multiple accounts ( bounty farming ) and bounty scammers around this website.

[campusnet]

I think that the difference is not big you are the holder of the amount of money or small , I think all participants must pass kyc for ico as it can reduce the chances of Scam !

even with filling the cyclic does not guarantee that everyone is free from scam. whether the project is cheating or from the ico participants who can scam. both have the same possibilities.

[thaliaand]

Rules are made for reasons of course. About KYC for bounty hunters and airdrops participants, it is enforced because of the regulation of the ICO. The other reason is to prevent the frauds of multiple account participants.
Regarding to big investors KYC, it is already implemented. And I think a necessity, given that one of the purposes is to prevent money laundry activities and other possible abuse.
 

[bountylayomi]

From my own point of view, I see no reason why KYC should come into blockchain. If possible, let it be scrapped. Most bounty will not make their intentions known concerning KYC from the start of the bounty but until the end of the whole bounty whereas many bounty hunters might not be able to meet up with some KYC requirements.
I feel something should be done about this as a matter of urgency.

[gowobonyok]

yes, I agree a little, because in my opinion for participants who only get a small number of tokens, they don't need to. because they only get a few percent of the total supply of tokens.