Post
Topic
Board Bitcoin Discussion
Re: Are we not abusing decentralization?
by
Wayan_Pedjeng
on 21/04/2019, 13:06:37 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.

Do you believe that KYC is good for bounty hunters?

There are a number of bounty campaigns that had made KYC mandatory for the participants here in Bitcointalk. As far as I can see, they haven't fared any better when compared to the other campaigns. With so many KYC documents being made available on the dark markets, don't you think that the KYC requirement can be misused?