Crowdfunding and Bitcoin? The Tag Team to Kill The Banks!

[Rob768]

Interesting piece which was just published on CrowdFundingForum, which looks as ways in which both Crowdfunding and Bitcoin could work together to really hurt the Banking systems of the world. 

http://crowdfundingforum.com/showthread.php/4725-Bitcoin-and-Crowdfunding-Could-they-Work-together-to-Kill-The-Banks

opinions??

[Elwar]

Since I will soon be opening up my software (BitPools) for initial testing I will chime in on this.

Crowdfunding in the current sense is ok, but it can be improved by using bitcoin.

With current crowd funding a problem is usually presented with the solution up front and the work is done toward funding that solution.

With the BitPools approach, people will pledge funds toward a problem. When a solution is agreed upon by enough people it is then funded.

The use of Dominant Assurance Contracts will encourage people to work together toward solving a problem where even if everyone is not in 100% agreement on the solution, they are still satisfied with voluntarily contributing.

Bitcoin makes things a lot easier because of its transparency which allows people to pledge support for a project with the ability to prove that they hold enough bitcoins to support the pledge while never needing to actually part with their money until it is to go into use.

[Rob768]

I totally agree that Bitcoin could really be a boon for Crowdfunding.  Also, there are 2 platforms in the crowdfunding niche which already take solely bitcoin, so it's not a new concept I guess.

[bitcoinstarter]

I totally agree that Bitcoin could really be a boon for Crowdfunding.  Also, there are 2 platforms in the crowdfunding niche which already take solely bitcoin, so it's not a new concept I guess.

Hi,

I'm one of the platforms in this space for Bitcoin Crowdfunding. I've always been envisioning a time where Bitcoins meets Crowdfunding to totally disrupt some aspect of banking and loans.

I think what was mentioned is totally on point and hope to one day see it happen!

[Rob768]

I think it will happen, however first Bitcoin needs to become more widespread, and then equity crowdfunding needs to be legalized in the United states.  When those two things happen, watch out!

[EndTheFed321]

very interesting Elwar good luck with BitPools

[Rob768]

I think that the effects of both markets are just now starting to hit the Banks hard.  Watch the next 12 months because equity funding will soon be legal for the everyday man within the next 2-3 months, and Bitcoin is getting the attention it deserves as well.  The banks better be prepared for this title wave in my opinion.