KYC at the end of bounty

[Speaker]

because the project is most likely located in a jurisdiction where it is necessary to comply with kyc. Alas, lately this has become the norm and nothing can be done about it.

[helin9108]

First of all I want to say what is bounty mean, bounty hunters doing marketing their ICO or IDO with the help of social media and if bounty hunter doesn't work properly he will not get any coin. So in this situation how much useful KYC process?? I think its waste of time. And it is risky to give your personnel data to anyone because its can be misused. One big problem is also that all bounty hunters doesn't have passport so they will fail to pass KYC process. Yes KYC is needed to participate in ICO or IDO on their web but not for bounty hunters.

[collinsjie]

Most projects use KYC to reduce the number of bounty hunters to be paid. Some have  a genuine purpose for the KYC to reduce fraud in the participation of the bounty campaign. KYC is not a bad idea, some project use it for genuine purpose while some are not gnuime.

[Freemind]

Most projects use KYC to reduce the number of bounty hunters to be paid. Some have  a genuine purpose for the KYC to reduce fraud in the participation of the bounty campaign. KYC is not a bad idea, some project use it for genuine purpose while some are not gnuime.

KYC is not a bad idea when a user wants to participate in an ICO or IDO as long as the #DevelopmentTeam  is public. But for a bounty, I don't think it's necessary, there are other ways the team can make sure no one cheats, that's always an excuse for most bounty participants not to claim their coins/tokens. It is something I would never do, we could never know where our documents end up and they can even be sold for illegal activities.

[gurunanakji777]

If the dev is honest he/she should ask the KYC at the start of the campaign so that nobody's work goes in vain because of KYC verification. I feel the requirement of a Passport is not mandatory in every campaign I feel it would be very few where we have been asked only for a passport even Bounty Manager should also be clear with dev in the starting about the KYC procedure.

[Arslan0049]

I totally agree with you, I am from Pakistan. I have lost many bounty rewards in this regard, in the end, some projects demanded KYC. But in some projects they ban Pakistan, so it is better for the project manager to clear this KYC method before starting a project. So no one can lose.

[Speaker]

Many projects are located in jurisdictions that require or imply the passage of kyc. Therefore, it is important to take this into account.

[Freemind]

Many projects are located in jurisdictions that require or imply the passage of kyc. Therefore, it is important to take this into account.

It is true what you say, but KYC is required for investors, that way the authorities can know who earns money by investing and who should pay the corresponding taxes if they have applicable laws. Bounty hunters should not go through KYC as they do not invest their money and the potential profits they could make should not go through the same laws as investors, in that case, another type of tax would have to be applied to bounty hunters, but all this is another legal loophole that no government has covered.

[Lanirex]

I totally agree with you, I am from Pakistan. I have lost many bounty rewards in this regard, in the end, some projects demanded KYC. But in some projects they ban Pakistan, so it is better for the project manager to clear this KYC method before starting a project. So no one can lose.

What is discussed in this topic is KYC at the end of the bounty, so many disagree because the provisions are announced when the bounty campaign is about to end or even when the announcement is finished. KYC for me does not matter if it is requested at the beginning of the campaign, so we can decide whether to join the bounty or not. By the way for me KYC in Bounty campaign is unnecessary and just a waste of time, unless it's done for an exchange.

[gunhell16]

Most projects use KYC to reduce the number of bounty hunters to be paid. Some have  a genuine purpose for the KYC to reduce fraud in the participation of the bounty campaign. KYC is not a bad idea, some project use it for genuine purpose while some are not gnuime.

Indeed, the BM of the campaign projects doing it because there are some participants are exploiting the bounty project.
so when the project is done, He will double check their participants who are the eligible for the payments then if the BM find out there is an abuser, suddenly He will change the rules at once in which is submitting KYC.

[reza7777]

KYC is not a bad idea, some project use it for genuine purpose while some are not gnuime.

how do you know about this? are you from the future? we all don't know whether our personal data is safe with them or not. remember, don't exchange your personal data with only $10 money or more, because this is privacy

[Speaker]

for the sake of bounty, I would hardly pass kyc, because there are simply no rewards there

[Fenix]

because the project is most likely located in a jurisdiction where it is necessary to comply with kyc. Alas, lately this has become the norm and nothing can be done about it.

This is a wrong opinion. Now states and legal entities must comply with the binding recommendations of the FATF special group, which, back in June 2019, established that KYC can be carried out only in two cases: in order to prevent money laundering and to combat the financing of terrorism, and then, provided that the amount transactions exceed one thousand euros. Thus, the team of a new project can only require KYC for its investors, but not for bounty campaigners, who do not invest money in this case, but provide marketing services to this team. Requiring KYC for bounty campaigners is illegal!!!

[Afony]

KYK FORM is needed for participants of bounty projects to reduce bots that participate in projects. KYK protection that needs to be applied for security.

[Freemind]

KYK FORM is needed for participants of bounty projects to reduce bots that participate in projects. KYK protection that needs to be applied for security.

I do not agree with you. KYC is necessary for people who invest their money in an ICO/IDO or similar, that way the government of each country can have a record of the citizens who invest to combat money laundering. Bounty hunters can't be under KYC because they haven't made any kind of investment, so they can't act against AML, so there shouldn't be any record of those participants. In addition, KYC should always be registered by an entity external to the team, otherwise our private data could end up anywhere to be used in fraudulent acts.