Bitcoin Forum
April 21, 2021, 11:08:31 AM *
News: Latest Bitcoin Core release: 0.21.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 [18] 19 20 21 »  All
  Print  
Author Topic: KYC should be for big whales  (Read 25159 times)
SistaFista
Sr. Member
****
Offline Offline

Activity: 1386
Merit: 250



View Profile
March 19, 2019, 06:37:31 AM
 #341

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

Well, you can freely tell your own opinion about KYC from the bounty hunter point of view.
But some companies may need their token holders data for their legality.
Anyway, it is free for the hunters to decide whether they want to participating in KYC bounty campaign or not.
I usually decide to not participating on some KYC-required bounty campaign if i think the rewards is not worth.

|--- ★ ◆ ---
Trustlessly
Non - Custodian

▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█   ▄▄   ▄▄  ▄▄  ▄▄▄▄▄▄▄    █
█                                        █
██████████████████████
█  ▄▄▄   ▄                           █
    █ ▀▄▀    ▀▀▀▀▀               █
█  █▄▄█     ▄▄▄▄▄▄▄           █
                                          █
█  ▄▄▄  ▄                    ▄▀▀▄▀
█  █▀▄▀     ▀▀▀▀▀      █      █
█  █▄▄█     ▀▀▀▀▀   █▀▀▀▀▀▀█
 ▀█████████████ █▀ ▄▀▄ ▀█
                              █▀   █   ▀█
                              ▀▀▀▀▀▀▀▀


▄▀▄
  ▀
▄▀▄
  ▀   
▄▀▄
  ▀


.
    ▄▄▄▄█   ▄▀▀██                                                 ███
    ▀    █    █        ██                                              ███
  ▄▄   █  ██        ██     ██       ██   ██          ███   █████
 █ ▀██ ██ ▐  ▄▀▄        ██       ██   ████▀  ██        ███
     ██  ██  ▐▀    ██     ██       ██   ██▀        ███    ███
█▀██  ██   ▐▀▀▀██     ██     ███   ██              ██  ███
    ██ ██    ▐▀▀▄██      ▀███  ██   ██         ███     ▀████
  ▄███▄███▄▄▀   
█          ▀▀▀▀ 

     Defi Money

▄▀▄
  ▀
▄▀▄
  ▀   
▄▀▄
  ▀

                    ​█▀▀▀▀▀▀▀▀▀█
                   ​█    ▀  ▀▀▀    █
█▀▀▀▀▀▀▀▀▀█    ▀▀▀▀▀    █▀█
█ █▀▀▀▀▀▀▀ █    ▀  ▀        █  █
█ █ █▀▀▀▀█  █   ▀▀  ▀▀     █  █
█ █ █  ▄▄  █  █       ▄▀▄     █  █
█ █ █▀▄▄▀█  █     ▀▄         █  █
█ █ █▀    ▀█  █▄▄▄▄▄▄▄▄▄█  █
█ █ █▄▄▄▄█         ▄▀▄       █  █
█ █                     ▀ █ ▀      █  █
█ █▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ █  █
█                                          █
█▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄█
▄▄▄▄▄▄▄                  ▄▄▄▄▄▄▄
▀▄                                      ▄▀
   ​▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

  Fun & User 
friendly in interface
--- ★ ◆ ---  ★ ◆ ---|

▄▀▄
  ▀
▄▀▄
  ▀   
▄▀▄
  ▀ 

CROWD SALE ON
1stJune 2021
       ▄▄█████████▄▄
    ▄█████████████████▄
  ▄█████████████████████▄
 ▄███████████████▀▀▀█████▄
▄████████████▀▀     ██████▄
█████████▀▀   ▄▄▀   ███████
██████▄    ▄▄█▀    ████████
█████████▄██▀      ████████
▀██████████▄▄    ████████▀
 ▀████████▄█████▄████████▀
  ▀█████████████████████▀
    ▀█████████████████▀
       ▀▀█████████▀▀
1619003311
Hero Member
*
Offline Offline

Posts: 1619003311

View Profile Personal Message (Offline)

Ignore
1619003311
Reply with quote  #2

1619003311
Report to moderator
1619003311
Hero Member
*
Offline Offline

Posts: 1619003311

View Profile Personal Message (Offline)

Ignore
1619003311
Reply with quote  #2

1619003311
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1619003311
Hero Member
*
Offline Offline

Posts: 1619003311

View Profile Personal Message (Offline)

Ignore
1619003311
Reply with quote  #2

1619003311
Report to moderator
1619003311
Hero Member
*
Offline Offline

Posts: 1619003311

View Profile Personal Message (Offline)

Ignore
1619003311
Reply with quote  #2

1619003311
Report to moderator
nerlial
Member
**
Offline Offline

Activity: 546
Merit: 10


View Profile
March 19, 2019, 07:00:06 AM
 #342

Generally not necessary procedure KYC. From the KYC procedure it follows that the token should only go out at the exchange where there is KYC. And the tokens go on the stock exchanges where they can buy any without Kyc.

DIAGON  e S p o r t s   ▐ ╹  Global decentralize eSports ecosystem
JAPCNSPNRU   WHITEPAPER  ]     ICO ❱ ❱  ❱ Nov. 12 th
facebook   ◥ TWITTER   ◥ reddit   ────  (❪   B U Y   ❫)  ────
Robotbitcoin22
Sr. Member
****
Offline Offline

Activity: 854
Merit: 250


View Profile
March 19, 2019, 07:25:09 AM
 #343

In KYC I agree that anyone can do it when they want to withdraw large amounts of funds or invest, because what is feared is the money laundry that occurs because it is indeed very detrimental if it happens
shaheer001
Full Member
***
Offline Offline

Activity: 1246
Merit: 100


FRX: Ferocious Alpha


View Profile WWW
March 19, 2019, 09:44:35 AM
 #344

Actually major thing for bounty hunter is that some bounty hunters go on fraud by using multiple accounts of social media and want to get more tokens which is totally worst action, so KYC is implemented to avoid such type of worst actions.

Zalaster
Member
**
Offline Offline

Activity: 308
Merit: 13


View Profile WWW
March 19, 2019, 09:50:39 AM
 #345

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

Well, you can freely tell your own opinion about KYC from the bounty hunter point of view.
But some companies may need their token holders data for their legality.
Anyway, it is free for the hunters to decide whether they want to participating in KYC bounty campaign or not.
I usually decide to not participating on some KYC-required bounty campaign if i think the rewards is not worth.
It is good when there is a choice. But I know that many ICO's announce KYC upon completion. This is wrong and suggests that this project is not worth the effort.
Danda23
Copper Member
Newbie
*
Offline Offline

Activity: 176
Merit: 0


View Profile
March 19, 2019, 10:16:18 AM
 #346

You are right, kyc should be for investors as the name implies, know your customers , but it baffles me to see how bounty hunters are being subjected to doing kyc and the worst part of it is that as a bounty hunter, if you fail the kyc, your effort is gone, because it won't be rewarded for. There should be a limit to this for bounty hunters, sometimes you might ask before you start the bounty, you will be told "No KYC" ,at the end you will be shocked to see kyc form.  Kyc should be for investors.

▔▔▔▔▔
vanya.pronin.1983
Member
**
Offline Offline

Activity: 378
Merit: 10


View Profile
March 19, 2019, 10:24:05 AM
 #347

I think that KYC should be done for every participant and it does not matter if it is an ICO investor or a bounty hunter. KYC is made to protect honest participants and I have absolutely no problems by passing any KYC.
petronus
Jr. Member
*
Offline Offline

Activity: 252
Merit: 4


View Profile
March 19, 2019, 10:28:43 AM
 #348

KYC is used by developers to avoid cheating in bounty and airdrop programs. Because there are so many cases of multiple accounts taking part in the program. And KYC is one way to reduce fraud. As for large investors, it seems that they have been announced when they will take part in the ICO, so investors with large nominal purchases are required to participate in KYC which aims to avoid money laundering in the process of purchasing tokens during ICO.

▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂   https://tecracoin.io  ▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂
UNITING SCIENTISTS, INVESTORS AND THE BLOCKCHAIN COMMUNITY
thinkright
Copper Member
Jr. Member
*
Offline Offline

Activity: 280
Merit: 1


View Profile
March 19, 2019, 10:35:32 AM
 #349

ideally, it should be required for large scale investors, however, the rate at which people cheat with multiple accounts in bounty and airdrop programs calls for KYC. For airdrops, it is not worth going through KYC because of the reward at stake.

△ M!R△CLE TELE   ▌  BRINGING MAGIC TO THE TELECOM INDUSTRY  ▐   JOIN US NOW!
▐▐   40% Biweekly Rewards     ▬▬▬   Calls at €0.2   ▬▬▬     Traffic from €0.01 worldwide   ▌▌
▬▬▬▬▬▬   ANN  Lightpaper  Bounty  Facebook  Twitter  Telegram   ▬▬▬▬▬▬
bitkanu
Hero Member
*****
Offline Offline

Activity: 1568
Merit: 502


Student Coin


View Profile
March 19, 2019, 10:47:00 AM
 #350

Some projects have to follow the laws and regulations of their countries so KYC can be needed even for small investors. That is why so ICOs exclude US and some other countries to minimize their regulatory risks.
And remember there was a lot of them have stealing investors identity. KYC should be implemented for both investors and developers to avoid scammers and being compliant with all of regulation. that should be the main answer to the question.

STUDENTCOIN


















Powered by,
fuer44
Sr. Member
****
Offline Offline

Activity: 1260
Merit: 261



View Profile WWW
March 19, 2019, 10:47:17 AM
 #351

Kyc aims to reduce multiple accounts, for some bounty and airdrop participants. so I think that is quite reasonable, especially for the bounty who finally obliged the cyc at the end of the ico period.


.
.
▬◇
▬◇▬◆
▬◇▬◇▬◆
.
.
.
.
.
◇▬
◆▬◇▬
◆▬◇▬◇▬
.
.
george_hured
Full Member
***
Offline Offline

Activity: 644
Merit: 101



View Profile
March 19, 2019, 06:24:43 PM
 #352

This is honest. But this simply will never happen, because all these people, who today have very great wealth, spend a lot of money in order to simply never know them. It seems to me a very well-known fact.
fosco333
Full Member
***
Offline Offline

Activity: 1204
Merit: 100



View Profile
March 20, 2019, 04:53:26 AM
 #353

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 still understandable if KYC required for hunters because usually hunters can get quite much token too.
But it won't be acceptable if you must submit KYC documents just for participating in airdrops.
we just need to avoid airdrops that requiring KYC for its participants.

zhekinsp
Full Member
***
Offline Offline

Activity: 882
Merit: 126


★777Coin.com★ Fun BTC Casino!


View Profile
March 27, 2019, 06:01:25 PM
 #354

If we talk about the legality of the KYS procedure, then it should be carried out by absolutely everyone, including the ISO developers. But all the same, it is incomprehensible for bounty hunters, since it would be enough for them to have two-factor identification in order to avoid fraud with several accounts.
Two factor authentication is still not a good idea because people can use multiple accounts from different devices so KYC is mandatory when they want to restrict multiple accounts but why they don't mention at the time of joining on bounties if their intention is that.

TomiJerry
Full Member
***
Offline Offline

Activity: 462
Merit: 101


View Profile
March 27, 2019, 06:10:33 PM
 #355

If we talk about the fairness of the application of the KYC procedure, it is advisable to apply this to all participants, including the ICO developers. Nevertheless, KYC for bounty hunters does not make sense, since it is quite enough for them to have two-factor identification to avoid manipulation with several accounts.
Serve20
Jr. Member
*
Offline Offline

Activity: 154
Merit: 1


View Profile WWW
March 27, 2019, 06:19:15 PM
 #356

Exactly, KYC should be for those buying from 5000 USD upward. It shouldn't be for those buying below that and think money below 5000 USD shouldn't be classified as launderable money in any country. Also bounty hunters shouldn't be among those that will be doing bounty before receiving rewards for their labors

BLOCKMASON LINK
Create Web APIs From Any Smart Contract
Balzhi
Full Member
***
Offline Offline

Activity: 518
Merit: 161



View Profile
March 27, 2019, 06:23:31 PM
 #357

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

big whales already have to pass kys everywhere. during tokensales and when they trade and withdrawal on solid exchanges.

▄▄▄        WINDHAN        |   RENEWABLE ENERGY PROJECT   ▄▄▄
||███      (((  Pre-Sale is Live  )))  ▐ ███  JOIN NOW   ███ ▌      ███||
|   Whitepaper  |  OnePager  |  ANN  |  Facebook  |  Twitter  |  Telegram   |
CryptoCoinArbitrage
Member
**
Offline Offline

Activity: 462
Merit: 12

Veil — Privacy Without Compromise


View Profile
March 28, 2019, 11:07:06 PM
 #358

KYC is part of the business when investing. The process should be easy and smooth and should be done by a  third
party  that  our sensitive data being protected.
gaj ahmada
Full Member
***
Offline Offline

Activity: 616
Merit: 100



View Profile
March 28, 2019, 11:36:06 PM
 #359

KYC does aim to reduce cheating like multiple accounts on a bounty or airdrop, but many bounty hunters don't agree
with KYC in a bounty, for me it's not a problem filling KYC if the project is potentially good in the future

Akoldi_ibk
Jr. Member
*
Offline Offline

Activity: 1031
Merit: 1


View Profile
March 31, 2019, 09:34:54 PM
 #360

These are sensitive data and should be kept secure otherwise it should not be requested for in the first place. We've had cases of data breach and thousands of documents falling into the wrong hands. This is the main reason people have issues with submitting KYC. KYC shouldn't be a problem because it addresses a number of issues on both sides; for the project and also for investors.
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 [18] 19 20 21 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!