Filmmaking using cryptocurrency (question)

[solipsism101]

Hi Everybody,

I'm sure I'm posting this in the wrong place since I'm new here and still getting my bearings; if so, please redirect me and I'll post where it belongs. I'm researching the ins and outs of making a film funded through cryptocurrency and having a tricky time wrapping my head around some of the logistics, hoping someone here can shed some light on things. It's a no-brainer to point out that a film's budget is what pays for the cast, crew, and goods & services, e.g. equipment rental, food, travel and lodging, etc. With most people and businesses not yet subscribing to cryptocurrency, how might a BTC funded project pay for those essentials? My best guess would be converting crypto to fiat, but I'd like to hear from someone in the know. I'm aware of at least 3 films that have been funded in crypto, but haven't (yet) tried reaching out to those producers to get their advice. Thanks in advance for any and all suggestions!

[merchantofzeny]

I'm not really sure how it's done but maybe you can just try to collect the necessary amount of bitcoins needed for the complete production first. Then maybe wait out a bit to exchange it at a better price.

There seem to be no bitcoin equivalent of Patreon. Probably it's expected that donors would just send the bitcoins directly to the wallet.

Wishing you the best.

[HabBear]

Check out the BitPay debit card. It's a debit card (sponsored by Visa) that you load by converting BTC to the fiat currency (USD or whatever). You could use this to pay for things as a producer and also offer them to your cast and crew as a way for them to spend the earnings they receive. OR let your cast and crew decide how they want to get paid their Bitcoin.

As for funding, you can set up wallets devoted to receive the investments and donations you'll be taking to serve as core funding. Set it up in a Ledger or Trezor wallet so it has ultimate security.

[stompix]

Hi Everybody,

I'm sure I'm posting this in the wrong place since I'm new here and still getting my bearings; if so, please redirect me and I'll post where it belongs. I'm researching the ins and outs of making a film funded through cryptocurrency and having a tricky time wrapping my head around some of the logistics, hoping someone here can shed some light on things. It's a no-brainer to point out that a film's budget is what pays for the cast, crew, and goods & services, e.g. equipment rental, food, travel and lodging, etc. With most people and businesses not yet subscribing to cryptocurrency, how might a BTC funded project pay for those essentials? My best guess would be converting crypto to fiat, but I'd like to hear from someone in the know. I'm aware of at least 3 films that have been funded in crypto, but haven't (yet) tried reaching out to those producers to get their advice. Thanks in advance for any and all suggestions!

I really don't understand why is this such a dilemma for you.
Once (if) you receive the donations you exchange the coins to usd (all at once or when you have to settle bills) , unless you find somebody who is willing to take the coins and do the exchange himself or keep the coins.

The easiest solution would be with a 3rd party:
https://bitpay.com/docs/donations

[solipsism101]

Great suggestion, HabBear, thank you!

Stompix, I don't believe I said it was a dilemma; BTC is a new concept to most and I'm merely asking for advice on disbursement of funds with a currency most people and businesses aren't yet using, which seems like a pretty sensible thing to ask. Case in point: how would I know to use bitpay.com if I didn't ask someone?  Regardless, thanks for the advice and the suggestion, it's appreciated.