Attention venture capitolists: Gearing up for crowdfunding

[RodeoX]

The more I learn about the crowdfunding bill the more I think many of you would be into it. Among the funding portals that are popping up, I like GrowVC. There you can see the ideas people are pitching for startups or you can connect with funders who want to help you make your business ideas come true, for a profit of course. I have posted an article about bitcoin in the talks section, if you set up an account feel free to add to the discussion. There are a lot of economy geeks there and some very smart experts on the topic of entrepreneurship.   
Personally I'm looking at opportunities in Africa in the mobile phone market. I am also looking for small startups near my home, something I could visit and get to know.
I plan on making my next successful investment via this system, check it out and we will bum rush them with BTC ethics. www.growvc.com

[Stephen Gornick]

Personally I'm looking at opportunities in Africa in the mobile phone market.

I would bet the best opportunity where this relates to Bitcoin would be in areas where remittance payments are commonly received and there also exists is a mobile phone where domestic person-to-person payments is done without huge fees.  Thus in a village, for example, there would be demand for one or more individuals who could perform exchange from Bitcoin to the local mobile currency and then make the payouts to the recipient via mobile.

Perhaps in Asia  as well -- like the Philippines and elsewhere?

[cbeast]

Global acceptance of Bitcoin will need to be done in stages.

[RodeoX]

Personally I'm looking at opportunities in Africa in the mobile phone market.

I would bet the best opportunity where this relates to Bitcoin would be in areas where remittance payments are commonly received and there also exists is a mobile phone where domestic person-to-person payments is done without huge fees.  Thus in a village, for example, there would be demand for one or more individuals who could perform exchange from Bitcoin to the local mobile currency and then make the payouts to the recipient via mobile.

Perhaps in Asia  as well -- like the Philippines and elsewhere?

agreed. Bitcoin based remittance is such a good idea that I'm surprised it is not being done now. Or maybe it is? When I travel one of the things I do is check for peers in the country I'm visiting. It's a chance to meet interesting people and perhaps turn some BTC into local currency. 

@cbeast - Let's take it to the next stage!

[cbeast]

Personally I'm looking at opportunities in Africa in the mobile phone market.

I would bet the best opportunity where this relates to Bitcoin would be in areas where remittance payments are commonly received and there also exists is a mobile phone where domestic person-to-person payments is done without huge fees.  Thus in a village, for example, there would be demand for one or more individuals who could perform exchange from Bitcoin to the local mobile currency and then make the payouts to the recipient via mobile.

Perhaps in Asia  as well -- like the Philippines and elsewhere?

agreed. Bitcoin based remittance is such a good idea that I'm surprised it is not being done now. Or maybe it is? When I travel one of the things I do is check for peers in the country I'm visiting. It's a chance to meet interesting people and perhaps turn some BTC into local currency. 

@cbeast - Let's take it to the next stage!

The Philippines would be a great place for bankless currency like Bitcoin. The banks there are a nightmare and ATMs are few and far between. Unfortunately, the political environment is not as accepting of change as other countries. If Bitcoin were to gain a foothold there, it would be through the youth.

[Satori]

The GLBSE just went into open beta the other day.  They're a BitCoin-centric way to sell or buy shares of a project - it doesn't even have to be a corporation - and get returns on your investment.  Those investments can be for $1.25 or so, meaning the average individual can invest easily.  It does need some kind of Web of Trust or Reputation System, but they're no doubt working on it.

For the moment, the majority of projects seem to be standard BitCoin mining rigs.  But considering where this is going, with average Joes able to invest en masse in projects that look good to them, we may soon find new online startups and websites getting put together motivated solely by crowdservice.  Since they'll all be competing against each other for available pool of startup capital, all you really need is a great idea and the crowds will fund it.  May the best idea win.

[notme]

The GLBSE just went into open beta the other day.  They're a BitCoin-centric way to sell or buy shares of a project - it doesn't even have to be a corporation - and get returns on your investment.  Those investments can be for $1.25 or so, meaning the average individual can invest easily.  It does need some kind of Web of Trust or Reputation System, but they're no doubt working on it.

For the moment, the majority of projects seem to be standard BitCoin mining rigs.  But considering where this is going, with average Joes able to invest en masse in projects that look good to them, we may soon find new online startups and websites getting put together motivated solely by crowdservice.  Since they'll all be competing against each other for available pool of startup capital, all you really need is a great idea and the crowds will fund it.  May the best idea win.

The biggest advantage of GLBSE: no trading fees!

Screw $9.99 to move in and out of a position.

[Max Stirner]

And the biggest disadvantage of GLBSE is that people can runaway with your money.

[cbeast]

And the biggest disadvantage of GLBSE is that people can runaway with your money.

Any private enterprise can do that. Remember Worldcom, Enron, Bernie Madoff, and Mitt Romney? The list is endless. In America your pensions are not backed by the government.

[cypherdoc]

Hey, Cuddlefish, aka Nathaniel Theis, ran away with 800 of my Bitcoin through a fake company called Ubitex so the danger is real.

[AnonymousBat]

Don't worry, the government will band crowdfunding.

You know, for your 'protection'

[RodeoX]

This is a good general resource for info on crowdfunding and the recently passed bill.

http://wefunder.com/university

[Serenata]

My first approach to crowd-funding was at GLBSE. I think it's a terrific idea for people to be able to state their ideas and get help evolving them and turning them into reality.

Now that I visited the site RodeoX post was about, I'm thrilled that such a great idea is not confined only to Bitcoin.

As every "system", crowd-funding can be used maliciously, but this does not change the fact that it can be more of a solution than of a problem.

[RodeoX]

I like GLBSE and what it means for the bitcoin economy. I see the new crowdfunding option as another way to diversify my holdings. I spread my risk over stocks and bonds, fine art, bitcoins, real estate, venture capitol funding, and any profitable commodity.   Hell, I would buy 10,000 pairs of socks if I thought the price was going up. 
The thing I like about crowdfunding is that you are rewarded for your homework. The more I look into a company the more I am likely to make a good bet. When I see how profoundly mismanaged Wall St. funds are it makes me think I can beat them, as I have in the past.