Bitcoin and Crowdfunding Will Together Destroy Banks

[Rob768]

There are a ton of changes happening in the financial sectors of the world.  This could be a great opportunity for Bitcoin to really make a huge impact, especially combining it with Crowdfunding:

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

[TippingPoint]

There are a ton of changes happening in the financial sectors of the world. 

Because changes in the financial sectors of the world are measured in tons.

[benjamindees]

Bitcoiners are only interested in crowdfunding opportunities that promise ridiculous returns and then blow up and take all of their money.  It won't be destroying anything.

[xyzzy099]

There are a ton of changes happening in the financial sectors of the world.  This could be a great opportunity for Bitcoin to really make a huge impact, especially combining it with Crowdfunding:

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

If you're right that banks and Bitcoin can't cooexist, then I imagine that there is nothing the banks won't do to destroy Bitcoin before it fulfills its potential.  Maybe they can't stop it at this point, but maybe they can.

I think there is probably room in the economic world for both banks and Bitcoin, so I'll keep an optimistic outlook for the moment

[tysat]

@OPs title

No it won't, you're stupid if you think it will.

[Stephen Gornick]

especially combining it with Crowdfunding

It's too bad that Crowdfunding is a term that covers both types ... donation-based crowdfunding and equity crowdfunding.  Because the two couldn't have more different properties.

Donation-based crowdfunding needs Bitcoin like McDonalds needs Bitcoin (i.e., it doesn't, and if it did start using Bitcoin neither Bitcoin nor that service would necessarily notice much difference).

Equity crowdfunding using bitcoins, .. well, now you are disrupting not just an industry, but dozens of industries.  Radical cost savings and an immense increase in opportunities opens up.

Unfortunately ...   with the exception of a handful of people, the world just isn't able to digest this just yet.

It will come.   It won't be pretty (as those being disrupted happen to be those who hold the power today) but it will come.

[benjamindees]

Donation-based crowdfunding needs Bitcoin like McDonalds needs Bitcoin (i.e., it doesn't

There are plenty of restrictions on donating national currencies which Bitcoin can bypass, for instance donating to Wikileaks.

[Stephen Gornick]

Donation-based crowdfunding needs Bitcoin like McDonalds needs Bitcoin (i.e., it doesn't

There are plenty of restrictions on donating national currencies which Bitcoin can bypass, for instance donating to Wikileaks.

That's a fair response.  I was thinking more in terms of a Kickstarter.  While I'ld prefer to use bitcoins to pay for a contribution to a Kickstarter project, them not accepting bitcoin (yet) doesn't mean I will instead have to pass on it.   But for donations to causes, like you suggest, yes -- it is very important that payment in Bitcoin is an option.  

[polarhei]

I think, if banks are adapted from this, then banks benefit as it is the business today. But not fully ready,yet.

[doom309]

the planet is big enough for both bitcoin and banks to live together, no one need get destroyed, what matters most of all is giveing people choice, and thatd what bitcoin should be about, providing a good credible alternative

[Chaoskampf]

if anyone's interested: https://bitcointalk.org/index.php?topic=204703.0

Some suggestions I made a while ago which might help Bitcoin kickstarters become more relevant.

[vokain]

Why not get a local credit union on board?

[benjamindees]

Why not get a local credit union on board?

The Internet Archive Credit Union is Bitcoin friendly.  But credit unions in the US are limited geographically.  There's not a lot they can bring to the table.

[Stephen Gornick]

It's too bad that Crowdfunding is a term that covers both types ... donation-based crowdfunding and equity crowdfunding.  Because the two couldn't have more different properties.

I stand corrected:

There are four main categories of crowdfunding: rewards, charity, lending and equity-based.

In rewards-based crowdfunding, funds are contributed in exchange for future goods or services. In charity-based crowdfunding, individuals and organizations accept donations from the general public. Reward- and charity-based are the most common forms of crowdfunding and are a good option for non-profit organizations, social causes, artistic projects, and product development. Companies like Kickstarter and Indegogo are prominent examples of rewards-based crowdfunding.
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Lending-based crowdfunding allows individuals and businesses to lend money from the “crowd” and repay it with an interest.
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Equity-based crowdfunding allows companies to get capital from the crowd by selling equity to accredited investors. In general, companies who want to be listed in equity-based platforms have to meet certain requirements like generating certain amount of revenue and passing a series of background checks.

- http://www.bbvaresearch.com/KETD/fbin/mult/1306_EEUUOutlook_2Q13_tcm348-392269.pdf

Obviously, Bitcoin-powered [i.e., w/ investor anonymity] equity crowdfunding is something they have no clue about and isn't even on their radar.

That ASICMINER (currently valued at $180 million ... ) exists, and is likely the most successful equity crowdfunded company in history (by all metrics, market cap, ROI, etc.) says these analysts have some learning to do, and quick!

[worldtreasurefinders]

@OPs title

No it won't, you're stupid if you think it will.

I disagree; if there's one thing that will make TPTB (the powers that be) OBSOLETE from our lives, it's technology.  We don't need their banks, we don't need their rules and regulations, we have our own money and can invest in our own projects without their help at all.  THIS is humanity's last hope to get out from under the boot of the NWO.