Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Domithra on July 19, 2019, 02:22:01 AM
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KYC which means Know Your Customer in more simple terms is a way through which companies, firms, projects or businesses get to know their clients and consumers of their products and services. Of late, it has become wide issue how investors and bounty hunters struggle to pass KYC in order to receive their hard worked for tokens. The whole issue is presented in way that makes one think that passing the KYC grants the success of the project.
To my best of knowledge, KYC is just for verfication and legal backing purposes. This does not grant the success of a project.
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I do not think KYC is a guarantee of project success.
Those companies where I passed KYC did not show a good result but on the contrary
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I do not think KYC is a guarantee of project success.
Those companies where I passed KYC did not show a good result but on the contrary
Agree with you guys, not necessarily if KYC is the determinant of the success of a project because many other factors support the success of a project, namely investors, project organizers and bounty hunters who are reliable in promoting the project.
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KYC is one of the essentials for projects to overcome investment rules, attract big investors or simply make the project "look more professional". However, it is only a necessary condition, not a sufficient condition, it does not guarantee anything related to the project's ability to mobilize capital or the future.
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Whoever thought KYC is a guarantee to a successful project is crazy. It is more of a hurdle to many retail investors. This is also one reason why ICOs swithed to IEOs, they (investors) would rather buy on exchanges without the hassle of submitting personal info to some group of people who created a token.
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KYC is not at all a guarantee that the project is promising and will pay exactly. I think that on the contrary, if the project wants to declare itself and attract a large number of people wishing to invest and promote the project, then they need to abandon the KYC procedure. There are many people who do not like to give their personal data and I am including
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I will never give a personal identity to a new project I have never known, now a centralized exchange requires all customers to do KYC because the new AML and Project regulations that are running a bounty will require participants to fill out KYC forms, there is no guarantee the project will succeed unless they have reached hardcap then run the project they developed according to the road map
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KYC is only for security documents in the event of money laundering.
It can be said that KYC is the last defense of a project for security and I am sure that with KYC it can be easy to arrest the person who committed money laundering.
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KYC which means Know Your Customer in more simple terms is a way through which companies, firms, projects or businesses get to know their clients and consumers of their products and services. Of late, it has become wide issue how investors and bounty hunters struggle to pass KYC in order to receive their hard worked for tokens. The whole issue is presented in way that makes one think that passing the KYC grants the success of the project.
To my best of knowledge, KYC is just for verfication and legal backing purposes. This does not grant the success of a project.
No, I think KYC is not guarantee to a successful project. I agree with you mate. KYC is just for verification and legalbacking purposes. But We must be carreful to choose KYC. If the project is scam, I afraid my personal ID will be mis used. I think...
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I do not think KYC is a guarantee of project success.
Indeed. KYC is only a piece of many parts of a project. It is only about verification data. The main factors of a successful project will be determined by complex things. Quality team, good strategies, MVP, community supports, and many others.
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Based on the experience that I have experienced, Kyc is not a guarantee for the success of a project in a gift campaign. It could be that this is just a trick of the project team so that the organized campaign seems right. It is not a fictitious project. Kyc also does not match the expectations of bounty hunters.
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KYC means nothing obviously, but If an ICO does not require KYC then this is a red flag. Because that means they're not afraid of USA and China's regulations, which means their company could be in trouble in the future.
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I have ever felt, we are only asked for formalities. The assurance of gift distribution to bounty hunters is still unclear. This means, we are not an indicator as a gift campaign project that gives a definite gift. So we must be able to choose which gift campaign project which is not a fictitious project.
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No there is no guarantee of success if the project requires your KYC but some people think other way like that project is legit but its not like that in my opinion. Certainly they ask KYC to follow the rules of the country the projects belongs to.
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I think kyc is not the proper measure to guarantee the success of a project. Most projects uses kyc for legal purposes in order to prohibit persons from other country which restricts the buying of crypto. For me the determinative factor is the community. A strong community will drive the price up of a coin. It really depends on the community imo.
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The KYC procedure does not guarantee anything. It’s just that developers fear that they may encounter problems in a certain jurisdiction, and try to exclude them in advance ... Therefore, KYC is insurance for developers
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What is the correlation between success and KYC? I think it only has a small correlation. KYC just gives a contribution to have trusted investors, so there are no fake identities and problems in the future. But the success won't only depend on KYC, it is about all parts in a project.
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no,only the team can make a project successful ,kyc is used only to stop the citizen from Excluded Countries(USA,CHINA etc) to participate in the token sale.
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The presence of KYC verification in the ICO project cannot guarantee anything. The fact that the ICO team in the future will be easier then with jurisdiction after such verification, we know, but mostly only from the team itself. But I clearly see that when, at the end of the ICO or even after it, a KYC check is announced, this makes it possible not to pay the tokens earned by the bounty hunters for many months.
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As things become blurry nowadays, obviously KYC is not enough to prove a project successful. It's very common that KYC can be cheated easily by bounty hunters. It can be cheated by project developers either. Besides, I never think KYC is a sign of a successful project.
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KYC which means Know Your Customer in more simple terms is a way through which companies, firms, projects or businesses get to know their clients and consumers of their products and services. Of late, it has become wide issue how investors and bounty hunters struggle to pass KYC in order to receive their hard worked for tokens. The whole issue is presented in way that makes one think that passing the KYC grants the success of the project.
To my best of knowledge, KYC is just for verfication and legal backing purposes. This does not grant the success of a project.
In my opinion i think KYC is just verification. Kyc is not a guarantee to a successful project. Becaus there is several reason why the project will successful. It is not KYC. Very potential project, good team and many investor buy their token
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No not at all. Actually most of the times I feel like the KYC askers are identity thieves. I know this is paranoid but asking KYC has no value for me considering the success of a project.
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No not at all. Actually most of the times I feel like the KYC askers are identity thieves. I know this is paranoid but asking KYC has no value for me considering the success of a project.
I also have a similar feeling when I hear about KYC verification after the ICO, in which I participated. This, of course, has no effect on success, but it becomes clear that we will not see our earned tokens for a long time. It starts with what we are told that there will be a KYC and wait, follow the information in our official website and in the group of telegrams. So, in ignorance, it lasts for several months, but the rating of the project grows due to the attendance of the site and the group of their telegrams. Then one day in the telegram information appears on the KYC and a short time and all those who are tired of visiting their telegrams, skip this period and lose the right to earned tokens. This deception is now working very effectively.
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I don't think so. People are trying new projects, and they may fail. There is a misconception, that KYC, has anything to offer to investors, The only advantage is, that, you can take legal action if needed. Although, you have to pay the costs for lawyers etc, without a guaranteed result.
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I have already passed KYS more than once. And from my own experience I was convinced that even if the project requires it, it’s not a fact that it will be successful in the future.
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In fact, there are many startup projects that provide KYC procedure in their token sales, both for investors and bounty hunters, but finally the projects failed because of low interest from people to join. With this description, KYC never determines the success of a project.
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I truly do not see the need why bounties will be earned only after a successful kyc. Its absurd and entirely unnecessary to say the least
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I don't think, KYC is not a guarantee for a successful project. Because KYC is only done to recognize the customers that are done by the project manager. So there's no reason that KYC will make the Cryptocurrency project a success.
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What is the relation of KYC fulfillment and the success of the project? KYC is the way to know your customers. It is one of the requirements that the customers of the projects are available to purchase the coins or receive the rewards. So, I think it will not guarantee the success of the projects.
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No it is not a guarantee but it was a requirement by the government thru regulation that every project will be required to apply KYC to their clients to ensure that the people who joined the investment is a legit person. Project success will always depend on the quality of the platform so that it could attract more people to invest.
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KYC is not a guarantee that the project will be successful, even Bitcoin until now remains anonymous and does not need KYC for the success of this coin, government regulations make us obey the rules, but we do not have to fill out KYC forms on any project, because some data important, of course, they will be taken and stolen if the project turns out to be fake
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Kyc also known as know your customer is never a guarantee to know a better a good projects. There are projects that never asked for kyc and perform more than expected out there in the market.
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No it's not guarantee to be successful project, People do not trust KYC only because their data can get to the Internet.There are many companies that have already fallen very much and may not stand up,took people to confirm their identity.Where are those photos now?Perhaps already traded in the darknet.
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true if KYC is only part of one project's legal support, not as a project's success,
but now don't do KYC if it's not worth it, there are too many data abuse cases out there
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true if KYC is only part of one project's legal support, not as a project's success,
but now don't do KYC if it's not worth it, there are too many data abuse cases out there
I agree with you. Every time you do KYC, you increase the risk, of identity theft. I don't buy the hype, that if I don't do KYC, I have something to hide. I just protect, my identity.
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KYC which means Know Your Customer in more simple terms is a way through which companies, firms, projects or businesses get to know their clients and consumers of their products and services. Of late, it has become wide issue how investors and bounty hunters struggle to pass KYC in order to receive their hard worked for tokens. The whole issue is presented in way that makes one think that passing the KYC grants the success of the project.
To my best of knowledge, KYC is just for verfication and legal backing purposes. This does not grant the success of a project.
I think KYC to reduce multy account, But It is a guarantee to successful project. Yes, I agree with you mate, KYC is just verification and legal back purposes. There is several reason why the project be successful. It is not KYC, But team and product.
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those projects where I went through KYC these projects died and not one showed a good result
I think that in the future I will not participate in such projects
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Of course, kyc is not a guarantee of successful project. I have participated in several projects that requested we do kyc but yet still the projects failed.
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no, there are also projects that are scam after doing KYC. it could be, to attract bounty hunters and investors to join and get caught up in fraud. there is no guarantee when you do KYC, at least you can get tokens or coins if you pass KYC.
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Not at all. KYC is not the measurement of a successful project, This is the requirements for investors to buy or participate in the projects. To be successful, the project must have good products in the future with promising roadmap and development.
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KYC does not guarantee ICO success and this is because there have been many projects that inculcate KYC in their project and it has failed son to me KYC does not guarantee success.
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KYC which means Know Your Customer in more simple terms is a way through which companies, firms, projects or businesses get to know their clients and consumers of their products and services. Of late, it has become wide issue how investors and bounty hunters struggle to pass KYC in order to receive their hard worked for tokens. The whole issue is presented in way that makes one think that passing the KYC grants the success of the project.
To my best of knowledge, KYC is just for verfication and legal backing purposes. This does not grant the success of a project.
KYC is no guarantee for success of course, but it is one of the conditions for a project to go widespread.
No it is not a guarantee but it was a requirement by the government
Exactly.
KYC is an essential part of regulations concerning cryptocurrencies.
There is no regulation without KYC.
Unregulated currencies will never become widespread.
People won't trust them. Companies, businesses, private and public institutions won't trust them.
They will suffer the competition of regulated cryptocurrencies. These last ones will get the support of public authorities.
Unregulated currencies will never be a substantial part of the economic system of a country.
They are deemed to be used only within the crypto-community.
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KYC in the Bounty campaign does not guarantee the success of the Cryptocurrency project. Because this is done the aim is to identify the Bounty participants and to avoid cheating participants. Therefore there are some people who do not agree if there is a Bounty Campaign using the KYC system, because they cannot register with multiple accounts.
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KYC in the Bounty campaign does not guarantee the success of the Cryptocurrency project. Because this is done the aim is to identify the Bounty participants and to avoid cheating participants. Therefore there are some people who do not agree if there is a Bounty Campaign using the KYC system, because they cannot register with multiple accounts.
So you say that there will be no success until people can create multiple accounts? The reason ?? Or I don’t understand something)
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No. There is no guarantee for sure. KYC won't guarantee the success of a project. The quality of the team and the project itself that can give the guarantee for the success of the project in the future. KYC is only the way to know the real data of investors, it is a good way but it doesn't determine the success.
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KYC is routine way of verifying all the members engaging in a project and this don't guarantee a project to be successfully at all. this kyc is done to fish out the most greediness bounty hunters and illegal engagement on a project. KYC plays a role in that process
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Kyc is simply made to weed out the various cheaters who participated in the bounty company or airdrop from many different multi-accounts or simply to filter out people from those countries that can not participate in ICO/IEO or bounty/airdrop.
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in my opinion, not really. based on my experience, projects that ask for kyc are not necessarily special projects. this can also be just a trick to attract the interests of the bounty campaigner. accept anything from the project that asks for kyc.
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Successful projects are seen from how their teams develop. is it in accordance with the roadmap they have made and convinced investors of the advantages of the project. KYC is used if the country where the project originates has regulations to verify buyers or investors of the project.
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Kyc is simply made to weed out the various cheaters who participated in the bounty company or airdrop from many different multi-accounts or simply to filter out people from those countries that can not participate in ICO/IEO or bounty/airdrop.
KYC was not created to weed out scammers on this or other similar forums. Such an audit should be carried out solely to prevent cases of dirty money laundering and to combat the financing of terrorism. Using it for other purposes is illegal, because it is connected with a violation of the rights of citizens to the confidentiality of the person.
KYC verification has nothing to do with the success of the ICO project.
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I see absolutely no difference between projects that require KYC testing and which do not require it, in terms of the further successful development of this project. I try to avoid the verification process because it is an additional risk factor for us as bounty hunters.
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KYC which means Know Your Customer in more simple terms is a way through which companies, firms, projects or businesses get to know their clients and consumers of their products and services. Of late, it has become wide issue how investors and bounty hunters struggle to pass KYC in order to receive their hard worked for tokens. The whole issue is presented in way that makes one think that passing the KYC grants the success of the project.
To my best of knowledge, KYC is just for verfication and legal backing purposes. This does not grant the success of a project.
The ICO era is over. Now this is not relevant. Invest in IEO
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Kyc is simply made to weed out the various cheaters who participated in the bounty company or airdrop from many different multi-accounts or simply to filter out people from those countries that can not participate in ICO/IEO or bounty/airdrop.
The KYC audit is not intended to screen out forum participants who violate its rules in ICO bounty projects. Such an audit should be carried out solely to prevent cases of dirty money laundering and to combat the financing of terrorism. This check does not give any guarantee to the participants of ICO bounty campaigns regarding the success of ICO projects.
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Not all projects are successful with KYC, but there are also projects without KYC that are actually successful. project success is not measured by the KYC, but is measured by how far the progress and can reach the target.
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KYC is not a guarantee of the success of a Cryptocurrency project. Because KYC's purpose is to find out the Identities of the people participating in the Project. To my knowledge, the success of a Crypto project was greatly influenced by the products produced by the Crypto project. The better the product they produce, the more it will attract the attention of investors. Aside from products, a large community and professional project managers also influence the success of the Cryptocurrency project, not from KYC done by the project participants.
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I think KYC can only show transparency in the project, there is not much chance that the project will become successful.
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It is just a process of knowing your customers any project that want to succeede can still succeede with the use of KYC it fail after kyc been carried out, it is in the hands of projects owners to make their projects successful even without the knowing your customers. So for me kyc doesn't quarrantee successful projects is for the project owners to work hard for their project to succeede.
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In my opinion there is no guarantee to a success the project if they required KYC to investors and bounty hunters. I've seen many projects that required KYC, but many of them were failed, few only were successful and it's really risky if you pass KYC to them, you know it can be use to scam people using your information.
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The success of the Cryptocurrency project did not result from the KYC process carried out by the Bounty participants, but the success of the project resulted from strong support from the community and the large number of people participating in the project. The more people who participate will surely raise large funds, and the more funds collected will make it easier for the team to develop a Crypto project.
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I used to think like that, kyc was only to get to know investors or bounty hunters, but over time I knew that kyc was also used to reduce fraud in the bounty program. KYC provides success? I don't think so, what determines success is teamwork and the project.
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KYC is not a guarantee of the success of a Cryptocurrency project. Because KYC's purpose is to find out the Identities of the people participating in the Project.
I agree with you. KYC is only created to know well the identity of investors and bounty hunters. So, there is no strong correlation between project success and KYC. I think without KYC, a project also has a chance to be successful. But KYC is surely better to apply to know valid data of every people joining in the project.
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KYC is not a guarantee of the success of a Cryptocurrency project. Because KYC's purpose is to find out the Identities of the people participating in the Project.
I agree with you. KYC is only created to know well the identity of investors and bounty hunters. So, there is no strong correlation between project success and KYC. I think without KYC, a project also has a chance to be successful. But KYC is surely better to apply to know valid data of every people joining in the project.
Sometimes yes, but not a basis of successful too. I hate KYC to be honest, bounty hunters should be confirm to avoid cheating but KYC isn't not a good way for us to be reviewed like that. I think, some of projects are to abusive when it regard to claiming tokens, giving vital identity information could be use for theft cases and blame it on the users. So Im avoiding projects that are pretty straight forward into KYC process unless I really like the project that much.
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Kyc never quarrantee a successful projects is just a means of knowing those who invested in the project as a customer I think for a project to be successful it depends on the team that's behind the project for their hardwork and market strategy.
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the kyc process does not guarantee a project is successful,
now I see projects that do KYC just to avoid investor fraud
and for bounty avoid cheats and multi accounts
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I a'mnot fully agree with you because many projects which perform Kyc (know your customers) but they failed to arrange their project in ICO, IEO, and arranged exchange. Many projects without Kyc arrive their successful target. So Kyc is good but not a guarantee of a successful project.
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Absolutely not. Project success can be achieved from several aspects, a strong and solid team, and products that are being developed. Moreover, every time, many new tokens that appear, if you want to make a new project, must be prepared with innovations that are different from the existing ones.
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yeah right, KYC is only to avoid fraud, whether it's during the sale of tokens or bounties. However, KYC might be able to influence investor confidence. For example, all team members or advisors in the project have verified their identities. So it's not a fake team.
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KYC is not a guarantee of the success of a Cryptocurrency project. Because KYC's purpose is to find out the Identities of the people participating in the Project.
I agree with you. KYC is only created to know well the identity of investors and bounty hunters. So, there is no strong correlation between project success and KYC. I think without KYC, a project also has a chance to be successful. But KYC is surely better to apply to know valid data of every people joining in the project.
Yes KYC is not considered a success. I have been participating in bounty companies for a long time and noticed that the projects that requested KYC were not always successful, many projects that did not request KYC brought more profit.
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KYC is not a guarantee of the success of a Cryptocurrency project. Because KYC's purpose is to find out the Identities of the people participating in the Project.
I agree with you. KYC is only created to know well the identity of investors and bounty hunters. So, there is no strong correlation between project success and KYC. I think without KYC, a project also has a chance to be successful. But KYC is surely better to apply to know valid data of every people joining in the project.
KYC's task is not to know well the identities of investors and bounty hunters. The objective of the KYC audit is to prevent dirty money laundering and the fight against terrorist financing. Using KYC verification for another purpose is illegal. In any case, it should not be applied to bounty hunters.
In general, KYC verification has nothing to do with the success of ICO projects.
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I think it defends on 2 factors innovation and trustworthy, aside from KYC for its team members, its also important to any project how to be more competitive in the market how to be unique from the existing platforms. I believe that if those characteristics are present on the project that we are talking now. it maybe a guarantee to be successful project.
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Kyc is a systematic process of buyer detail information but it is not a guarantee of a successful project. Some illegal cheating projects will perform Kyc procedures.. And some not popular successful project don't show Kyc but fully successful project.
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KYC is more of reducing fraud in the project, this will ensure a less possibilities of cheating in the project, but this will not guarantee a successful project, that will still depend on how the team of the project will deliver their product to its customers and how useful it will be to have a worth.
KYC alone is not enough to ensure safety of your investments.
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I see no correlation between the requirement of the ICO project team to undergo a KYC check for investors and participants in bounty campaigns on the one hand, and the success of this project on the other. So far, holding KYC for me symbolizes as an opportunity and desire of the ICO team to deceive the bounty hunters, delay the payment process, or even refuse for the far-fetched reasons the bounty hunters of the earned tokens. We do not have to go through a KYC check.
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In addition, KYC is not a guarantee for a successful ICO. It is just a way for new start up projects and the existing ones to establish a complete contact with their community member to reduce fruad or other forms of cheating in their various companies.