Rewarding bounty hunters with EQUITY SHARES instead of tokens

[Pffrt]

Since it's asking for KYC, I am not all in all for this system.  In cryptocurrency world, KYC should not be encouraged by any way. Who is going to ensure the security? Who will be responsible for any compromise of our data? No one. So, no to KYC.

[mdzahed134]

How long will they be able to provide the equity shares and can they exchange it for BTC?

I have no idea what  equity shares can do to be honest but if they wanna prevent bounty hunters from dumping they could just distributed the tokens by quarter. This will prevent the price to dip much.

Equity based project i think you can convert to crypto probably possible although i have little knowledge. Datablockchain was most promising project when ICO finished the team development changing their moto because they are not confident to lunching DBC in the bearish market. Also i participated in this project but their KYC process is really unpair.              

[Mpamaegbu]

An interesting evolution:

Looks like the DataBlockChain/DBC.io project had some issues with their 2 bounty campaigns. It made them decide to change the initial campaign project, which was "the usual" token payment. They have decided now to reward bounty hunters with equity shares instead of tokens.

This means you have to fill out KYC, send a copy of your selfie with ID and even fill-out a tax form (!!).

I am not sure what to think of this evolution. Could this be a new step in bounty campaign rewards? What about user's privacy protection?

Also, these guys are really dancing on the limits of legality. If you're promising people to pay them tokens, you can't just go ahead and change the rules along the way. Even the most radical of libertarians or anarchists will agree that the principle of "pacta sunt servanda" is the basics of any system or society.

I think this is shady if participants weren't told about a KYC from the beginning as not many people like a bounty involving a KYC. It doesn't really matter if they are having payouts now in a different and better coins, not even Bitcoin or Monero would mean anything. I really don't think it's a good thing.

[Ucy]

This isa  big deviation from cryptocurrency ideals. Principle should be primary in crypto world , while money should be secondary... People still don't get it.
How do they expect to have a decentralized, Censorship resistance coin if this is what they want for their project.

[Red-Apple]

ever since the ICO hype died and all the new ICO creators started having a hard time to get people to give them their money, they started looking for new ways to incentivize people into giving them their money! in other words they upped their scamming game. one of these methods have been KYC and they are trying so hard to enforce it on their users so that they may be fooled into thinking their ICO is legit!

[coino.org]

It looks complicated and shady. What is more there wasn't IPO, so this company will never be traded on stock exchange, so how are you going to sell your share?

[meanwords]

Nope, not my thing. KYC is what makes me stay away from projects. I remembered I joined the bounty campaign of that project months ago but my reward hasn't been given yet. There's no way I'm giving my information to something because I'm not sure what will they do to it especially when information can be sold.

[sonicwave]

Unlike many projects, they at least do not refuse to pay, I hope, although what then to do with these shares of mind I will not apply!

Is there any assurance they will pay you after completing all the task for the bounty campaign?
I am not familiar with equity shares it is different from token?

Stocks of course differ from the token, they are more stable and give a greater chance of profit, another question is who will agree to such a procedure, and in what ratio will the payments to the token be.

[friends1980]

What is a promise worth tho, is there any sort of legal contract? no? it's a google sheet, this development sure is strange but is it done for their best, or to abide laws as good as possible?

Depends on which country you're from, but I can confirm that any country which has Civil Laws based on Napoleon's Codes, accepts a "consensus" as legally binding. So yes, a promise can imply a legal contract.

[plr]

I don't know why they are avoiding payment to bounty hunters, they are going to lose their reputation if they keep doing this, this is not right if they will implement that, they should do so before the start of the campaign, they are abusing their bounty hunters.

[shad_ow90]

An interesting evolution:

Looks like the DataBlockChain/DBC.io project had some issues with their 2 bounty campaigns. It made them decide to change the initial campaign project, which was "the usual" token payment. They have decided now to reward bounty hunters with equity shares instead of tokens.

This means you have to fill out KYC, send a copy of your selfie with ID and even fill-out a tax form (!!).

I am not sure what to think of this evolution. Could this be a new step in bounty campaign rewards? What about user's privacy protection?

Also, these guys are really dancing on the limits of legality. If you're promising people to pay them tokens, you can't just go ahead and change the rules along the way. Even the most radical of libertarians or anarchists will agree that the principle of "pacta sunt servanda" is the basics of any system or society.

I think that they don't have permission to change rules which they gave from the beginning and require participants must provide personal informations to them. They are looking down on bounty hunters

[fuer44]

it's not the right thing, it violates the life of the bounty campaign. should if the team wants to change payments from tokens, the second alternative is with platform coins, or with cash.

[Azuliand]

It is not a bad idea to do that,atleast it is better than not paying the bounty hunters at all,to me is a good idea as long as the company has a working product.

Well, I think on the contrary , the projects were paid the shares and nothing good will come out of it , I think the right to pay either in Fiat or in coins project !

[Spaffin]

Unlike many projects, they at least do not refuse to pay, I hope, although what then to do with these shares of mind I will not apply!

I participated in this ICO project, fulfilled all their conditions, however, due to these constant changes in the terms of remuneration and checks, KYC missed one of the deadlines for KYC verification, and therefore lost the right to receive earned tokens. Changes in the conditions for receiving remuneration for KYC checks after the end of the ICO are now one of the main reasons why this activity for bounty hunters becomes very problematic. The ICO teams consider that we have nothing to do, as even months after the end of their ICO, constantly re-read their telegrams until they deign to write specific information about passing KYC checks.
In fact, this is one of the methods of fraud.

[blueteam09]

This is a revolutionary change when you will receive dividends according to line returns. But how do you know if you will get a profit if the project does not reach the desired target, it sets out how much it is? The sale of stock you own is impossible or yes?

[friends1980]

This is a revolutionary change when you will receive dividends according to line returns. But how do you know if you will get a profit if the project does not reach the desired target, it sets out how much it is? The sale of stock you own is impossible or yes?

The question is of course if you're happy to share not only your KYC information with the project but also send them a tax declaration form. It means you will be taxed if these bounty shares generate revenue.

I've decided not to do it. This means the fruits of my bounty work are lost forever.

[cabron]

How long will they be able to provide the equity shares and can they exchange it for BTC?

I have no idea what  equity shares can do to be honest but if they wanna prevent bounty hunters from dumping they could just distributed the tokens by quarter. This will prevent the price to dip much.

That's a joke, if that was a shares and what's the point for the token to be traded on the market? This idea is totally doesn't make sense and anyway just try to avoid this one. We will see how much token will you get from DBC. there's not differences. Both still securities.

Whats the point of equity shares? I don't think bounty hunters are going to make profit out of it when all they want is to trade it to BTC. They'd be comfortable with BTC than equity shares.  Are they able to exchange these equity shares to BTC after distributed? IF NO then this isn't just to prevent dumps but to scam not to mention they are not willing to send KYC after all the database hacks and selling of database.

[Irvinn]

Let's see if the bounty hunters will get shares of Datablockchain. I doubt it. As a result, the team will come up with another excuse not to pay out the shares, since they refused to pay us the earned tokens. In my opinion, getting shares in bounty hunters will be very difficult to carry out technically and organizationally. It may still last for months and years until it is forgotten.

[maculeth]

it seems like some of the bounties have done that, where they require the kyc in the middle of the bounty or at the end of the bounty. but for the change from token to equity share, I was more interested in the reward given in the form of dollars.

[tranquangvinh]

It may be a good idea for projects and bounty hunters but do they really accept this idea? bounty hunters have participated in many ICO projects and they are really lucky that the project pays their rewards, I think this will be a good idea when there are more strict ICO rules