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Author Topic: Am done with KYC  (Read 22063 times)
Ozero
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March 25, 2019, 05:02:42 AM
 #101

the idea behind kyc was just to verify the user identity behind the users or owners of the various crypto wallet owners and also to know the investors getting into the crypto space via ICO projects and also to follow regulations but in total i do not believe that crypto space is really a place for such regulations.
The desire to simply check our documents and obtain our confidential data is a direct misuse by the ICO team, because such curiosity violates our right to privacy. In my country, there is a law on the protection of confidentiality, according to which the right to demand such information is granted only to state bodies in cases provided by law. This body is fully responsible for the safety of such information and stores it no longer than is necessary for some purposes. In this case, in fact, unidentified people who themselves do not pass any checks require confidential information from others. Violated everything that can be broken. It turns out that any seller of goods in any outlet will want to get similar information from customers and will you do it?

Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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March 25, 2019, 08:01:06 AM
 #102

the end is very much doing that. when last year, there weren't even any kyc and many successful projects. I also still do not understand the overall purpose of the existence of Kyc, if indeed it does not have a major influence on the existence of tokens in the market.
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March 25, 2019, 06:32:37 PM
 #103

You are absolutely right, most of the project requesting for KYC don't make it to hardcap and even those that have managed to, the BM will find a way to deprive us of the bounty by continuously rejecting KYC

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March 25, 2019, 07:01:21 PM
 #104

You can't be tired as much as I am honestly. Just imagine a situation where hunters even have to beg with authentic government issued ID yet the so called team will be feeling on top of the world.
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March 25, 2019, 07:19:32 PM
 #105

Unfortunately, some projects do sell KYC information of Bounty hunters, so I try to verify whether the projects asking for KYC do have to do it for legal reasons or it is just an anouther scam.
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March 25, 2019, 07:34:24 PM
 #106

Indeed, recently there is such a tendency that many projects ask their users to go through the verification process on the one hand, I can understand them, but in the case when the project does not collect the desired amount, this is unnecessary.

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March 25, 2019, 07:46:19 PM
 #107

I don't think we can simply use the bases of whether a project is requesting for kyc to conclude that that project is a failure just because we have had previous experience with such projects. In as much as some of such projects fail, others also do very well

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March 25, 2019, 08:02:07 PM
 #108

KYC in ICO's doesn't mean that they are going to be successful or they are real.
We couldn't know if those name behind the projects are also true or jhst screen name so it is better to be safe than sorry.
I don't really trust KYC in crypto because first of all crypto is made for anonymity.

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Christinebeauty
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March 25, 2019, 08:31:59 PM
 #109

I wish I could go back and erase all the personal information I have given them but that's not possible now. I just have to be extra careful from now onwards.

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March 26, 2019, 02:33:02 AM
 #110

There is one thing I have realized from my experience with KYC for bounties. Almost all the projects I have provided my personal information to them failed to even get listed on exchanges and the project dies off. Surprisingly, those that didn't require KYC paid me and the project is truly developing. My point is, am beginning to think those project requesting hunters to go through KYC are just in for their information to trade and do not have any intentions to develop their crypto project so let's be vigilant about whom we carelessly give our details to, for some peanuts...May God bless our hustle

Based on my experience, there were some good projects that requiring KYC and has developed well.
One of them is Counting house which distribute CHT token in bounties last year.
It was a good bounty, the price of the token is already gone about 3x from ICO price i thing.
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March 26, 2019, 03:11:07 AM
 #111

Wow, good opinion. But, not everything is as you think. 
Yeah, I agree if we really have to be careful when going to do KYC and provide personal data.
Honestly, I also don't like to do KYC. So, I only do KYC and provide my personal data on projects that have been successful and continues to grow, so I'm sure that my personal data will remain safe. Yeah, I will not give my KYC easily and with low price.

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March 26, 2019, 03:39:36 AM
 #112

After you pass your KYC submit just waiting for an update for bounty or ICO project and you can withdraw your asset or your money, but always check how safety for some ICO before you submit your KYC data.
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March 26, 2019, 03:56:07 AM
 #113

There is one thing I have realized from my experience with KYC for bounties. Almost all the projects I have provided my personal information to them failed to even get listed on exchanges and the project dies off. Surprisingly, those that didn't require KYC paid me and the project is truly developing. My point is, am beginning to think those project requesting hunters to go through KYC are just in for their information to trade and do not have any intentions to develop their crypto project so let's be vigilant about whom we carelessly give our details to, for some peanuts...May God bless our hustle

What the point ? Do for the KYC or not, if all the bounty of ICO need KYC you are never follow they project?
do not be pessimistic and never lose your trust every project need the KYC.
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March 26, 2019, 04:09:08 AM
 #114

I don’t remember why we need KYC, using it we lose the main goal of cryptocurrency: anonymity. Most projects do not really enter the market, but my documents are required to receive coins (tokens). And what is the probability that my data will not be sold on the Internet? Developers need to use KYC so that users know who is really working on the project, there will be no cheating then.
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March 26, 2019, 06:56:12 AM
 #115

I have ever heard some people said that the bounty programs that need KYC will be very promising.
In this case, I don't think so, not all of them are successful and give me tokens or coins.
I also have such experience, more than 3 times fulfilling KYC process and I got nothing.
Now, I will think twice when I should fulfill the KYC process if needed, whether it is really true or not, worthy or not, and also ready for exchange or not. We need clear information and we may not need to wait for a very long time later for listing on the exchange.

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March 26, 2019, 07:18:03 AM
 #116

It is better to remain vigilant and not easily provide information about our personal data for the KYC process. The same thing happened to me that projects that requested KYC were very rarely developed and ended with the death of the project.

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March 26, 2019, 07:22:04 AM
 #117

There is one thing I have realized from my experience with KYC for bounties. Almost all the projects I have provided my personal information to them failed to even get listed on exchanges and the project dies off. Surprisingly, those that didn't require KYC paid me and the project is truly developing. My point is, am beginning to think those project requesting hunters to go through KYC are just in for their information to trade and do not have any intentions to develop their crypto project so let's be vigilant about whom we carelessly give our details to, for some peanuts...May God bless our hustle

This time is hard times for ICOs, we can't blame it all to the teams, the market condition is not good.
Nowadays people hype with launchpad ico like in binance and ERC-20 token bounties will lost it's hype like the old times
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March 26, 2019, 07:58:51 AM
 #118

Not all ICO projects that need KYC can become successful ICO projects. Indeed, now more ICO projects do not use KYC, they can go to Exchange. And to get into Exchange is also not easy because it requires not a little money.

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March 26, 2019, 08:06:21 AM
 #119

Not all ICO projects that need KYC can become successful ICO projects. Indeed, now more ICO projects do not use KYC, they can go to Exchange. And to get into Exchange is also not easy because it requires not a little money.
KYC is not the purpose for making a project succesful or making more money,it is just for the avoid the people from investing on their projects where the origin of the project has some rgulations for it but there are many ways our KYC documens were used for bad purpose that is why we don't have to invest on such project.
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March 26, 2019, 08:29:42 AM
 #120

There is one thing I have realized from my experience with KYC for bounties. Almost all the projects I have provided my personal information to them failed to even get listed on exchanges and the project dies off. Surprisingly, those that didn't require KYC paid me and the project is truly developing. My point is, am beginning to think those project requesting hunters to go through KYC are just in for their information to trade and do not have any intentions to develop their crypto project so let's be vigilant about whom we carelessly give our details to, for some peanuts...May God bless our hustle

What the point ? Do for the KYC or not, if all the bounty of ICO need KYC you are never follow they project?
do not be pessimistic and never lose your trust every project need the KYC.
That makes sense to see someone was feeling regret to throw his identity for a few bucks only. You can't even take the point on this thread. A lot of icos are not performing KYC to the bounty participant but they are going so well.

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