Post
Topic
Board Bitcoin Discussion
Re: Are we not abusing decentralization?
by
Babylon
on 21/04/2019, 08:12:18 UTC
There is no such thing as abuse of decentralization, if in the first place bitcoin was made with decentralization. If there is anyone who abuses power here, I think it is the people who requires unannounced KYC in order to receive the bounties. Decentralization in cryptocurrency is just normal.

I would second that. There were instances when I was denied the rewards after my refusal to undergo last-minute KYC. Rather than using it to remove the scammers, nowadays KYC is widely used to cheat bounty hunters of their hard-earned rewards.
I see KYC as a good way to avoid abuse or cheating. KYC are good for bounty hunters because they know that there is a fairness in the bounty campaign such as signature campaign, social media campaign and so on because it is like having more chance of getting a higher reward because there is no way that a person can cheat in KYC since they need to submit some documents.