[ANN] Max Keiser's website PirateMyFilm.com now accepts ONLY Bitcoins!

[BitPay Business Solutions]

projects accepting PayPal are not eligible for dividends, they are treated as a donation only.

ORLY!

Projects accepting bitcoin can payout dividends.  So this will encourage more people that list projects on PMF to select Bit-Pay (this is why you can only have 1 payment method per project on their site).

Oh, so Screw Banks, Buy Bitcoins was the first project that took bitcoins?  But that project is donation only as well and will not pay dividends. 

Are there any other projects that accept Bit-Pay ... and of those, any that will pay dividends if there are profits?

Screw Banks was the first one, so they could make sure it all worked, which it has.  There are a few things they need to add to their site like a grace period around the time their window closes, etc.

The project would need to be a revenue generating project to pay out dividends.  If you want to make a revenue producing project, and accept bitcoins for it, then list it on his site!  I don't believe there are any right now that meet both criteria.

[Stephen Gornick]

Now having paid for shares in both types of projects (one that took bitcoins, and one that took PayPal), I can say the Bitcoin-powered experience was superior.  I'm not sure if the problem was with PayPal or with PirateMyFilm but I was getting an error page from PayPal.com when I clicked the Pay button.  I tried later using Firefox and it worked fine on the third attempt.

I wasn't the only one getting this error either:
 - http://piratemyfilm.com/blogs

Viva la Bitcoin!

[molecular]

Now having  paid for shares in both types of projects (one that took bitcoins, and one that took PayPal), I can say the Bitcoin-powered experience was superior.  I'm not sure if the problem was with PayPal or with PirateMyFilm but I was getting an error page from PayPal.com when I clicked the Pay button.  I tried later using Firefox and it worked fine on the third attempt.

I wasn't the only one getting this error either:
 - http://piratemyfilm.com/blogs

Viva la Bitcoin!

also: with bitcoin no company (that will bow to all kinds of unreasonable demands by 3rd parties) owns the info that you funded this "screw establishment" film

[ribuck]

Now that Max's PirateMyFilm website accepts bitcoins, it provides a service surprisingly similar to GLBSE, despite having arrived there along a very different route.

If one wanted to finance a dividend-paying film, which service would work better?

[Stephen Gornick]

I see that another film project on PMF which I helped to fund is now having trouble collecting.  It was oversubscribed even when it hit green light state but then only 80% of the amount that was pledged ended up getting collected.

This can really cause a problem when the project director starts to make commitments based on the funding target being reached and then collections fall short.

One method to prevent this from occurring is to require payment (as escrow) at the time the pledge is made.  

PayPal's terms of service don't allow for prepayments like this, so the project that wants this escrow feature would need to be configured as a project that accepts only bitcoin.  The problem then though is getting enough pledges for the film if it requires not only bitcoin payments but bitcoin payment upfront.  This specific film is based on a current event in the news so if it took, let's say, twice as long to get funding it might no longer have been a viable project.

What would be fantastic to see happen would be if a star from the KickStarter world  wants to do a project where equity is issued and comes on over to PMF.  The project then becomes a financial success for its investors and a bunch of those who donate through KickStarter start thinking that capitalism through PMF looks like an interesting alternative -- even if the project's investors have to figure out how to buy bitcoins to participate.

Here's my suggestion for PMF to allow projects to be configured for prepay/escrow:

 - https://getsatisfaction.com/piratemyfilm/topics/allow_a_project_to_require_escrow_payment

[molecular]

I see that another film project on PMF which I helped to fund is now having trouble collecting.  It was oversubscribed even when it hit green light state but then only 80% of the amount that was pledged ended up getting collected.

This can really cause a problem when the project director starts to make commitments based on the funding target being reached and then collections fall short.

One method to prevent this from occurring is to require payment (as escrow) at the time the pledge is made.  

what possibilities would we have for this technically with BIP 16?

[Stephen Gornick]

The first bitcoin-funded project on PMF has been released!

 - http://www.ScrewBanks.net
 - http://www.youtube.com/watch?v=5CrOKDOyW-Y


Thread for the release:
 - http://bitcointalk.org/index.php?topic=80190.0

[DublinBrian]

Max Keisers crowdfunding site PirateMyFilm.com has now abandoned Paypal and fully converted to bitcoin. Well done Max and Stacy!
 

We are dumping PayPal from PirateMyfilm and using BitCoin only. PayPal is too unreliable, expensive and doesn't support of eventual plan to offer dividends so we are getting rid of it. You have three chances to pay for your shares for projects... (More)

[smoothie]

Max Keisers crowdfunding site PirateMyFilm.com has now abandoned Paypal and fully converted to bitcoin. Well done Max and Stacy!
 

We are dumping PayPal from PirateMyfilm and using BitCoin only. PayPal is too unreliable, expensive and doesn't support of eventual plan to offer dividends so we are getting rid of it. You have three chances to pay for your shares for projects... (More)

^ +1

[Technomage]

Wow. That is excellent.

[Raoul Duke]

Max Keisers crowdfunding site PirateMyFilm.com has now abandoned Paypal and fully converted to bitcoin. Well done Max and Stacy!
 

We are dumping PayPal from PirateMyfilm and using BitCoin only. PayPal is too unreliable, expensive and doesn't support of eventual plan to offer dividends so we are getting rid of it. You have three chances to pay for your shares for projects... (More)

Too bad the (More) link in their site takes nowhere and it's impossible to read the full post.

[BitPay Business Solutions]

Too bad the (More) link in their site takes nowhere and it's impossible to read the full post.

I don't think there's any more to the post.  That is it.

[Technomage]

I was about to tweet this and then the site started to malfunction. It's giving out "Internal Server Error".

[Technomage]

Seems to work now.

[molecular]

Max Keisers crowdfunding site PirateMyFilm.com has now abandoned Paypal and fully converted to bitcoin. Well done Max and Stacy!
 

We are dumping PayPal from PirateMyfilm and using BitCoin only. PayPal is too unreliable, expensive and doesn't support of eventual plan to offer dividends so we are getting rid of it. You have three chances to pay for your shares for projects... (More)

awesome! quite a move!

[BitPay Business Solutions]

I have made this short video to instruct the producers, who list projects on PMF, how to get setup to accept bitcoins.

http://www.youtube.com/watch?v=yZgVP4h4g_c

[BitPay Business Solutions]

I have completed a second video to show the users of PMF how to make a payment using bitcoins

http://www.youtube.com/watch?v=spFOQ-fsz4Y

[Akka]

Really Cool, I didn't know of this. Luckily this popped up in the unread post section.

But the setup of the piratemyfilm hompage is a little confusing (at least for me).

For many projects I still don't get what they want to do with my money.

[molecular]

here some piratemyfilm.com fruits: http://www.youtube.com/watch?v=L33zlFBiXLk&feature=plcp (Bitcoin 2012 | Documentary)