BTCfund - what u think about this idea?

[forry777aura]

Hi everyone! I’m new here, but I’d like to share my idea for promoting cryptocurrency as a means of payment.

For several years now, the crowdfunding industry has been developing rapidly. Many people raise money for personal goals such as medical treatment or living expenses, and many companies fund their projects through crowdfunding.

So maybe it’s worth thinking about a crowdfunding platform based solely on cryptocurrency? Such a platform wouldn’t have regional restrictions like GoFundMe, where you have to live in a specific country to raise funds.

The platform would need to act as a wallet from which funds could ultimately be transferred to an exchange, or it could have an option for other users to buy the crypto directly. Given the volatility of cryptocurrency prices, the total amount raised—when converted to fiat currency—would fluctuate over time!

A possible name could be BTCfund. It would be great if the first campaigns were a big success (for example, I could raise 20 BTC for my idea, since I have nothing right now 😄). If that happened, it could attract worldwide attention and generate huge publicity.

It would combine something good—crowdfunding without geographical limits—with something innovative: cryptocurrency payments. The number of potential beneficiaries would equal the world’s population. The ability to raise funds anywhere they’re needed could help reduce social inequality.

With enough attention and a simple interface, such a platform would likely become many people’s first experience with cryptocurrency. Tying donations exclusively to crypto could be a step toward broader adoption and the transition from traditional money to crypto.

What do you think about this idea? I personally can’t build it, but I’d love to see something like this exist in the future.

[forry777aura]

I’ve also been thinking that this idea could help the poorest and most excluded people realize their ideas, ambitions, and projects. It could reduce social inequality and give many people around the world a real chance — without any restrictions.

When it comes to crowdfunding, platforms like Kickstarter and GoFundMe are currently the leaders, but they exclude most people in the world. Unless you’re lucky enough to be a citizen of the U.S. or Europe, you basically have no chance to participate.

I believe that a modern, simple, intuitive, and freedom-oriented platform could take over this market very quickly. Only a huge success could promote it globally — something so spectacular that everyone would start talking about it.

Since Bitcoin was founded on the principle of freedom, fundraising should also be free of limitations (apart from criminal purposes, of course). It’s clear that $50 has a very different value in the U.S. than in Burkina Faso — this kind of platform could truly change someone’s life!

Also, for example, a fundraiser worth X at one moment could later be worth Y — the greater the market volatility, the greater the public interest. If someone had $100k in the morning and, after a price swing, suddenly had $150k, the media attention would be enormous.

The option for investors to buy crypto from fundraisers would create a new market opportunity. The ability to send those funds to an exchange to cash out would further increase the overall trading volume of cryptocurrencies — something that could have a significant impact on the market.

Best regards to everyone!

[Vod]

Crypto is irreversible.  What good is a central processor that takes fees?   If I want to crowdfund, I post a BTC address and advertise.

[joniboini]

So you're basically trying to create a GoFundMe with crypto? Then you'll have a lot of issues to solve. How can people trust your platform? How can project owners trust that they'll get their money? How can the crowdfunders make sure you're not running with their money? How do you plan to manage the funds? And so on. It's nice if everyone is honest without any control at all, but that's impossible. Especially when dealing with crypto, as mentioned above. You also need to consider that the $100k can turn into $10k overnight, too.

[forry777aura]

What I presented is merely an idea — one that aims, first and foremost, to help ALL people on Earth, without excluding anyone based on where they were born or where they live, while at the same time giving them global reach.

The second goal is to eliminate fiat currencies, which would accelerate the crypto market and gradually replace traditional money. I want to emphasize that this is just an idea, something that could be created one day. I don’t intend to build it myself — I’m just an ordinary person, and I don’t even know much about computers. I just wanted to find out whether such a project would make sense, and if someone wants to use this idea, they are free to do so.

As for trust, only time can verify that. For example, every idea for creating a crypto exchange could also turn out to be a scam. The “People for People” concept would involve contributions in cryptocurrency — which naturally carries risk but also growth potential, so this model could generate emotions and engagement.

When it comes to credibility, that would of course depend on the people who create the platform. But the point is the idea itself — something that already exists in another form, but could be reimagined to benefit the entire crypto industry. The platform could sustain itself through transaction or service fees.

I think I was misunderstood — I don’t want to create this myself. I’m just saying that something like this is missing in the world right now, and I believe it could be successful and quickly dominate the crowdfunding market.

On one side, you would have beneficiaries who need support — they would have to start participating in the crypto system — and on the other side, supporters who would also strengthen that system.

The overarching idea is to fight inequality, because right now, someone from, say, Burkina Faso who needs medical treatment or wants to start a local business has no real opportunity to do so through global platforms.

The first large, spectacular fundraising campaign could bring worldwide attention and lead to rapid adoption of the idea in the market.

Kind regards.

[Amphenomenon]

What I presented is merely an idea — one that aims, first and foremost, to help ALL people on Earth, without excluding anyone based on where they were born or where they live, while at the same time giving them global reach.

The second goal is to eliminate fiat currencies, which would accelerate the crypto market and gradually replace traditional money. I want to emphasize that this is just an idea, something that could be created one day. I don’t intend to build it myself — I’m just an ordinary person, and I don’t even know much about computers. I just wanted to find out whether such a project would make sense, and if someone wants to use this idea, they are free to do so.

Bitcoin wasn't made to replace fiat currency but rather stand where they fall short and here is an helpful one but in the aspect of a party running with funds is still something that needs to be sorted before this can be effective.

As for trust, only time can verify that. For example, every idea for creating a crypto exchange could also turn out to be a scam. The “People for People” concept would involve contributions in cryptocurrency — which naturally carries risk but also growth potential, so this model could generate emotions and engagement.

When it comes to credibility, that would of course depend on the people who create the platform. But the point is the idea itself — something that already exists in another form, but could be reimagined to benefit the entire crypto industry. The platform could sustain itself through transaction or service fees.

I think I was misunderstood — I don’t want to create this myself. I’m just saying that something like this is missing in the world right now, and I believe it could be successful and quickly dominate the crowdfunding market.

For me a centralize exchanges is no different from the example like GoFundMe, they can be affected by regulations which will lead to restrictions to soem regions also.

[forry777aura]

As for the displacement of fiat currencies, hypothetically, it will happen anyway. However, if no cryptocurrency takes their place on a global scale, we can safely assume that central banks will introduce their own digital currencies and force us to use them.

I checked all the countries supported by GoFundMe — there are 20 of them, with a combined population of 823,000,000 people. Since there are about 8,200,000,000 people in the world, that means GoFundMe is accessible to only about 10% of the global population. Therefore, I consider the remaining 90% to be excluded.

Bitcoin was meant to stand against the system, which is why I believe that some form of crypto crowdfunding that could reverse GoFundMe’s proportions would truly embody the spirit of Bitcoin and the fight against the system.

Best regards

[ABCbits]

So maybe it’s worth thinking about a crowdfunding platform based solely on cryptocurrency? Such a platform wouldn’t have regional restrictions like GoFundMe, where you have to live in a specific country to raise funds.

I assume you're talking about centralized crowdfunding platform. So if you don't comply with regulation on each country, there's risk that the platform will be blocked. On worst case, government will try to shutdown the platform.

[aioc]

Crypto is irreversible.  What good is a central processor that takes fees?   If I want to crowdfund, I post a BTC address and advertise.

This is by far the easiest way to crowdfund, with no country restrictions. With a platform, there are terms to follow: take out all the fuzz, post your idea and your Bitcoin address, and if you are worthy of their trust, you are good to go.

So maybe it’s worth thinking about a crowdfunding platform based solely on cryptocurrency? Such a platform wouldn’t have regional restrictions like GoFundMe, where you have to live in a specific country to raise funds.

[pooya87]

Apart from geographical or jurisdictional restrictions, the reason why certain centralized services for fiat donations exist is the problems you may face with your bank if you receive a lot of small donations. Like if you receive a ton of $1 payments they may shut your bank account down!

These problem already don't exist in the cryptocurrency world. You can send any amount to anyone without any kind of restrictions. You can even send tiny amounts using Lightning Network or even using low value altcoins such as doge.

The only way your idea could work is if you were capable of creating a platform with a massive donator base that would look at the list of available "donation seekers" and donate some amounts to any they like! And that doesn't sound plausible to me...

[SFR10]

So maybe it’s worth thinking about a crowdfunding platform based solely on cryptocurrency?
...
, but I’d love to see something like this exist in the future.

It's worth noting that a good bitcoin crowdfunding platform has existed for a few years already ^{[with lots of successful campaigns in different fields]}: Geyser
^{- Last time I checked, this wasn't the only one, but none of the other alternatives come close to Geyser's impact on such things.}

[examplens]

So maybe it’s worth thinking about a crowdfunding platform based solely on cryptocurrency? Such a platform wouldn’t have regional restrictions like GoFundMe, where you have to live in a specific country to raise funds.

I assume you're talking about centralized crowdfunding platform. So if you don't comply with regulation on each country, there's risk that the platform will be blocked. On worst case, government will try to shutdown the platform.

I'm curious how such a platform would assess a project's legitimacy and compliance with local laws before approving a listing. There are obviously valid reasons why GoFundMe is limited only to certain countries, and also why we have the ugly name (at least in my opinion) "Third World Countries".

[forry777aura]

Okay, in my country the term “third world countries” is a normal, neutral expression commonly used, so that’s why I’ve been using it — but I understand that it might be seen negatively elsewhere, so I’ll stop.

As for the regulations, basically the most important thing is the country where the platform is registered, not the country of the beneficiaries. There could even be an option not to indicate the beneficiary’s country to avoid complications.

The funds from the campaign would be paid out to a cryptocurrency address, so it doesn’t really matter where the beneficiary lives. If they later decide to sell the collected funds, that’s their own concern — where and how they do it is up to them.

In other words, the beneficiary would be a cryptocurrency address, not a specific person. Each user who wants to contribute to a campaign can decide for themselves whether they want to do so.

My goal is freedom, not restrictions. For example, if I organize a fundraiser to treat a dog, with a target of 0.25 ETH, I could write that I’ll be treating the dog in France or another country — but how and where I withdraw the funds shouldn’t concern anyone, especially the state. I could even pay for the treatment directly with cryptocurrency.

[joniboini]

My goal is freedom, not restrictions. For example, if I organize a fundraiser to treat a dog, with a target of 0.25 ETH, I could write that I’ll be treating the dog in France or another country — but how and where I withdraw the funds shouldn’t concern anyone, especially the state. I could even pay for the treatment directly with cryptocurrency.

Okay, so what do you think about existing platforms as mentioned above? Is it not enough for your goal? Maybe the problem is not the lack of a solution but a lack of marketing, who knows. Honestly, if it were me, I'd probably donate directly to an address instead of looking for a website/platform listing various ongoing donations.

[anonymousminer]

This user is just a beggar with a poor me story... hence the 20 BTC for them as an example.  They are looking for different ways to appeal to the bleeding hearts.  Avoid this OP!

[yhiaali3]

The idea of ​​creating a decentralized crowdfunding platform is beautiful and appealing from a humanitarian perspective, but it faces many practical challenges.

Equalizing people and helping the poor and marginalized through donations is a noble humanitarian act, but it is unrealistic because you simply cannot help all the poor, and equality among people is impossible. Even Bitcoin can't eliminate the gap between rich and poor.

There will be several organizational problems and issues related to trust in the recipients of donations and how the donations will be spent.

[robelneo]

A possible name could be BTCfund. It would be great if the first campaigns were a big success (for example, I could raise 20 BTC for my idea, since I have nothing right now 😄). If that happened, it could attract worldwide attention and generate huge publicity.

That would take out Bitcoin's decentralized idea, and do you mean you thought of this idea because you want to raise funds for this idea, because you have nothing, this is begging in another term.
Not a fresh, motivational idea; it's self-serving. You are no different from those who come here asking for loans and begging for money because of an emergency

[Furball808]

Crowdfunding usually works because there is a valueable cause that people care about. I.e donations to Gaza, Petition to revoke a private company or things like that. Sometimes if you have enough audience, you can post a gofundme link just asking your followers to help you leave a toxic house.

I don’t know how much people will be interested in donating bitcoin in a gofundme if it’s just for some random person with no real cause. It’s just giving away money for free. And nothing is free nowadays. So bottomline is there has to be a cause that people care about in order to want to donate.

[OgNasty]

I guess my question would be how would using crypto make crowdfunding a better experience for anyone involved.  It seems like it would only introduce new problems and not solve any existing issues.  Fraud is already a big deal with crowd funding and not having any way to claw back funds from scammers seems like it would be a step backward, not a step forward.  Not to mention, nobody needs a platform to ask for donations.  If anything, Bitcoin was created so users could ask for donations without the need for a 3rd party.

[joniboini]

I don’t know how much people will be interested in donating bitcoin in a gofundme if it’s just for some random person with no real cause.

Safe to say it will be very low. I mean, you can find many "scam" funding here and there, too. I guess the idea of a third-party who can be trusted to manage the funds is understandable, but achieving that requires more than just a forum post, as many mentioned above. Maybe OP wants someone to materialize this idea into a new project, but they'll face the same challenges. The goal is nice and all, but crowdfunding doesn't seem to be the long-term solution if removing poverty is your goal. You need better education, better job access, healthy competition, and so on. CMIIW.