Is KYC necessary for bounty?

[Domithra]

The whole idea of cryptocurrency was built on anonymity. How then is that lot of ICOs and bounty programs are requiring KYC before they pay bounty hunters. Or are they collecting data of people to sell to phishing sites or the dark web?

[benres]

I do agree with you, I guess if we are not careful on submitting our identification documents they might use it for illegal purposes especially on the darkweb, I think it is not necessary to give our KYC to join a bounty program or even on ICO.

[wxrhino]

I believe the fear is that you may be funding a terrorist organization and/or it's a way to legitimize the business so that it doesn't fall under SEC scrutiny. I think it will take awhile for adoption of crypto and platforms to be made available for us to do easy and protected P2P

[Xzhyte]

I believe it's because of many countries now have regulations for cryptocurrency related transactions and thus ICO's are required to have the KYC of their participants. ICO's are forced to require KYC to be able to be able to accept investors in those countries. On the other hand, I also disagree about that idea since we cannot be certain that our identities are safe.

[Domithra]

I believe it's because of many countries now have regulations for cryptocurrency related transactions and thus ICO's are required to have the KYC of their participants. ICO's are forced to require KYC to be able to be able to accept investors in those countries. On the other hand, I also disagree about that idea since we cannot be certain that our identities are safe.

Then where lies the anonymity? Is it that its losing its place in crypto?

[claudio2]

It's completely unnecessary to perform KYC for an bounty campaign. I believe most of the projects that require this have obscure purposes (scam, sell data, use personal data for on line crimes, etc).

[Xzhyte]

I believe it's because of many countries now have regulations for cryptocurrency related transactions and thus ICO's are required to have the KYC of their participants. ICO's are forced to require KYC to be able to be able to accept investors in those countries. On the other hand, I also disagree about that idea since we cannot be certain that our identities are safe.

Then where lies the anonymity? Is it that its losing its place in crypto?

Well, I also hate it but its a fact that most governments are against that anonimity, I guess we can't do anything about it but to just ignore bounties and ICO's with KYC.

[YangDump]

The whole idea of cryptocurrency was built on anonymity. How then is that lot of ICOs and bounty programs are requiring KYC before they pay bounty hunters. Or are they collecting data of people to sell to phishing sites or the dark web?

Well we don't know if what are they going to it about the KYC process but for another thing about this is for anti multi accounts and scammers also. It has been discuss that in the bitcointalk forum for the own purposes for the bounty hunters also. They want to limit the account of participants because it was totally unfair for the others.

But if that are they purpose for our account this would be a dissappointed teams and hope they don't go further about that.

[claudio2]

I believe it's because of many countries now have regulations for cryptocurrency related transactions and thus ICO's are required to have the KYC of their participants. ICO's are forced to require KYC to be able to be able to accept investors in those countries. On the other hand, I also disagree about that idea since we cannot be certain that our identities are safe.

Then where lies the anonymity? Is it that its losing its place in crypto?

Well, I also hate it but its a fact that most governments are against that anonimity, I guess we can't do anything about it but to just ignore bounties and ICO's with KYC.

To invest on an ICO, Ok. I agree, KYC is needed to regulation. But for receiving a bounty? It's free, a gift. It should not be necessary, in my opinion.

[TheWalkingToken]

It's ok to do KYC for ICO, for airdrop and bounty? No!

[dragononcrypto]

Say No To KYC Airdrops! That's what I say on my twitter page at least 

[Genius]

for me I don't care about sending  identification documents all I need is my payment that is all.

[sieemma]

i think even though the system is not made for it, it helps to reduce cheating of bounty participants. Some countries requires that kyc be done so it isn't their wish to conduct the process of identification.
By the way, this shouldn't be a problem if you're paid at the end. Investors who even use their own money are required to do kyc so what should be your problem?
With the issue of anonymity, i think the kyc is regulated, your info is not broadcast on a pubic ledger so it's okay for me.

[CryptoNewbie]

i think even though the system is not made for it, it helps to reduce cheating of bounty participants. Some countries requires that kyc be done so it isn't their wish to conduct the process of identification.
By the way, this shouldn't be a problem if you're paid at the end. Investors who even use their own money are required to do kyc so what should be your problem?
With the issue of anonymity, i think the kyc is regulated, your info is not broadcast on a pubic ledger so it's okay for me.

And what guarantees for keep your personal data gave you the last project in which you passed the KYC procedure?

[cryptothief]

There is increasingly less anonymity in crypto, companies cannot run the risk of AML regulations. If you can run your security checks against a company, then likely they can run the same checks against you. If companies claim they can bypass these regulations, then (depending on where they and/or you are based) you could be running the risk of being caught up in unnecessary red tape.