Why Bounty Hunters Should Be Exempted from KYC/AML Procedures

[#Darren]

KYC process is implemented in the last moments by a lot of bounty programmes, this is made to reduce the rewards and pay less people than on the final spreadsheet. A lot of hunters would rather lose their tokens instead of taking part in a KYC process.

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[mandor]

KYC process is implemented in the last moments by a lot of bounty programmes, this is made to reduce the rewards and pay less people than on the final spreadsheet. A lot of hunters would rather lose their tokens instead of taking part in a KYC process.

the reason prize hunters don't want to do KYC is because they are afraid of their identity being iknown and would prefer to lose tokens. different from me because I do not want to work just get paid for bullshit or lose tokens. so KYC must be done because it has become a rule in a bounty at this time.

[pelumi20]

The issue here isn't that you're contributing, or utilizing this to clean your cash, yet that you're getting paid. Companies are likewise required to recognize who they're sending cash to (or tokens for this situation) since they could be financing fear monger associations, for instance. I realize it appears to be fantastical, yet this is reality. This is the reason you additionally need to complete  KYC when you send cash, or notwithstanding when you open a financial balance. It's not on the grounds that you're sending cash however in some cases since you're getting paid.

[Mahanton]

The issue here isn't that you're contributing, or utilizing this to clean your cash, yet that you're getting paid. Companies are likewise required to recognize who they're sending cash to (or tokens for this situation) since they could be financing fear monger associations, for instance. I realize it appears to be fantastical, yet this is reality. This is the reason you additionally need to complete  KYC when you send cash, or notwithstanding when you open a financial balance. It's not on the grounds that you're sending cash however in some cases since you're getting paid.

This will only fitted out with investors but for advertisers? It isnt really that necessary for them to comply with such rule.Some project might have following some strict laws
for them to comply but doesnt mean that it will be generally implied and doesnt considerate their advertisers.This is why it do really sucks when a project suddenly ask out KYC after the bounty project ends which ends up for most members will not bother out to pass it up ,in result they able to save up some of their bounty allocation project.

[JeromeL]

KYC process is implemented in the last moments by a lot of bounty programmes, this is made to reduce the rewards and pay less people than on the final spreadsheet. A lot of hunters would rather lose their tokens instead of taking part in a KYC process.

That is why it is necessary to ask the project in advance whether they will have a KYC in the bounty campaign and if you are not told a clear "no", then it is better not to participate in such a bounty campaign. The rules of course can change, but then it will be on the verge of fraud on the part of the project and such a project should not be trusted.

[jozymens7]

In legal terms, I support you one hundred percent but when it comes to normal way, KYC helps to identify if people cheated in the bounty program or not. And I quite remember a project like Herocoin made us do KYC because the Austria government requested that and ffinancial transaction must be backed by KYC. So they did as such not to fall short of the laws. It may not have been any big case but I think prevention is far better than cure so in which case, they saved their time and money.

[imstillthebest]

KYC process is implemented in the last moments by a lot of bounty programmes, this is made to reduce the rewards and pay less people than on the final spreadsheet. A lot of hunters would rather lose their tokens instead of taking part in a KYC process.

That is why it is necessary to ask the project in advance whether they will have a KYC in the bounty campaign and if you are not told a clear "no", then it is better not to participate in such a bounty campaign. The rules of course can change, but then it will be on the verge of fraud on the part of the project and such a project should not be trusted.

thats right . asking is always recomended so that all is cleared to you but if they still insist to change rules even after an agreement , they are not fair or already considered scam . you can report them to the authorities so that they will get blacklisted  . meanwhile there are campaigns that already posted the rules including kyc at the start of their campaign  . this campaigns are fair because they arent hiding anything  . we must prioritize those kind of campaigns .  

[rachman mahesa]

I am against KYC for hunters. Because the majority of tokens of projects are not worth the fact that I would transfer personal data.

Well KYC is effective for Bounty hunters.
But I am confused what you are saying, It's the same meaning as you still do KYC but the value obtained is proportional to your data. Though KYC is usually done before token distribution. So, how do you know the value of the token while you did the KYC before.

[btc-facebook]

KYC is personal data, and it's very sensitive, not everyone wants to do KYC, because when we do KYC we indirectly give our confidential identity to others, and this is very dangerous if it is in the hands of the wrong person.
I actually did not agree when the bounty was originally not KYC but suddenly we had to KYC for reasons that were unclear when distribution.
KYC should be able to be a requirement to follow the bounty, so as not to complicate distribution.

[LogitechMouse]

They should be. I know that there are some bounty hunters who are giving their personal information to random persons and I don't like to do it because they can use your personal information in bad things.

I'm against on bounty campaigns that requires KYC but since people are greedy, they will go for it for just a small pennies. That is how their personal information worth it. JUST A FEW PENNIES .

[DmitFomin]

KYC is absolutely not needed for bounty campaigners, because bounty hunters cannot launder money, they are just hired workers, freelancers who perform a one-time task and get paid for it. On some bounty platforms, you can complete KYC once and not complete KYC for each individual campaign. There are different options, but passing KYC for each campaign in which you participate is not right.

[Kasabus]

KYC is absolutely not needed for bounty campaigners, because bounty hunters cannot launder money, they are just hired workers, freelancers who perform a one-time task and get paid for it. On some bounty platforms, you can complete KYC once and not complete KYC for each individual campaign. There are different options, but passing KYC for each campaign in which you participate is not right.

We can't deny that some of the bounties today are asking KYC to their participants to receive their rewards once done. It is our choice to promote their project and just follow what the rules said otherwise, we've got nothing. It is not actually hard to do KYC and ain't a problem but what we commonly think is that almost negative, worries that our identity will use in another form of illegalities which is not justifiable at its cost.

In fact, known exchanges are even asking for KYC which just be the same as what did bounties do to their promoters and I've never heard some claims that someone took their identity.

[Fesatmas]

KYC is absolutely not needed for bounty campaigners, because bounty hunters cannot launder money, they are just hired workers, freelancers who perform a one-time task and get paid for it. On some bounty platforms, you can complete KYC once and not complete KYC for each individual campaign. There are different options, but passing KYC for each campaign in which you participate is not right.

We can't deny that some of the bounties today are asking KYC to their participants to receive their rewards once done. It is our choice to promote their project and just follow what the rules said otherwise, we've got nothing. It is not actually hard to do KYC and ain't a problem but what we commonly think is that almost negative, worries that our identity will use in another form of illegalities which is not justifiable at its cost.

In fact, known exchanges are even asking for KYC which just be the same as what did bounties do to their promoters and I've never heard some claims that someone took their identity.

Actually KYC for hunters is not necessary because they do not mislead assets and bounty hunters only want to receive my reward, but if the Exchange requires KYC it is mandatory because there are many assets there so it needs to be guarded.

[jagaban]

KYC process is implemented in the last moments by a lot of bounty programmes, this is made to reduce the rewards and pay less people than on the final spreadsheet. A lot of hunters would rather lose their tokens instead of taking part in a KYC process.

the reason prize hunters don't want to do KYC is because they are afraid of their identity being iknown and would prefer to lose tokens. different from me because I do not want to work just get paid for bullshit or lose tokens. so KYC must be done because it has become a rule in a bounty at this time.

I can confirm that some investors are also very coy on their identity being known. Imagine a popular movie star wants to invest in a project but is not keen on letting the public knows about it. He or she will have to be subjected to kyc checks before they can invest which will undoubtedly risk their personality filtering to the public that a movie star is part of the investors. This will make stars like that avoid investing.

[gundala]

For bounty hunters, other than related to area restrictions, KYC is also used to reduce the existence of multiple accounts. Whether effective or not, at least this can reduce cheating. Regarding this policy, some agree and some don't. I have no problem doing KYC if the project is truly responsible and gives us our full and promising rights.

[103deltafox]

Very well said, I see no reason why bounty hunters should be subjected to Kyc when it's only service  they render, no form of fiat transaction. They help promote the bounty project and at the end, instead of them getting paid they come up with stories of Kyc, if there must be Kyc, it should be stated before the start of the bounty because not everyone is ready to tender their documents.

[fosco333]

Normally bounty hunters are not be able to do money laundering because the amount they received is only a small portion.
Money laundry is happening because peoples use the money from illegal source, to buying asset. Hunters are not able to do that.

[Periodik]

You have said it clearly OP. I myself am very much against KYC to bounty hunters. In a way, they could be considered part of the marketing team but not clients. They are basically working for the project and not coming to the project as customers. Not to mention that in exchange to showing their very valuable personal identification documents such as passports and IDs, they will only receive a very small value in tokens. 

But we also need to consider that once we are asked by the project to create an account in their sites, we are already considered customers. Once we sign up to to their sites, rules might consider us as clients. And to abide with the existing laws the project might ask us to pass KYC.

[Ryan Dugan]

They have no right to know who we are to be honest. They don't need to know. They not a bank, they not giving out a loan. It is not a phone line or TV license you are buying. You not selling gold to a dealer. There is no reason for KYC. KYC is for bussiness related things and even then I do not like it.

You should only ever give your KYC for tax, licenses, loans, bank, buying a car or house or taking out a contract.

[Polar91]

They have no right to know who we are to be honest. They don't need to know. They not a bank, they not giving out a loan. It is not a phone line or TV license you are buying. You not selling gold to a dealer. There is no reason for KYC. KYC is for bussiness related things and even then I do not like it.

You should only ever give your KYC for tax, licenses, loans, bank, buying a car or house or taking out a contract.

Perhaps the purpose of KYC is to reduce bounty cheating since we all know that a lot of bounty hunters are making multiple accounts, causing less quality in terms of prmoting a project. On the other hand, it's still not necessary at all just like what you said. Sooner I believe that there will be an alternative way for bounty participants rather than KYC which is very strict and sensitive.