Announcing BitcoinFunding.com The BEST bitcoin fundraising method on the planet

[BitcoinFunding.com]

Greetings,

After two weeks of beta testing we are ready to officially launch https://bitcoinfunding.com/ the Bitcoin kickstarter-like crowdfunding service!

We want to see millions of creative bitcoin related projects get funded and succeed and for the foreseeable future site fees have been reduced to 0%.  That's right, raise funds, spread the word, and keep all the bitcoins you raise.

We are bullish on the bitcoin protocol and we are in this for the long haul. 

So sign up, tell your friends about it, and help us harness the creativity, innovation, and imagination of the Bitcoin community. 

Thanks,
BitcoinFunding.com

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[kiba]

Does it have an API?

[Bitcoin Oz]

None of the buttons work such as login or signup with twitter or facebook.

[Stephen Gornick]

I was willing to fund a project with 1.0 BTC,

So I went through the sign up process  (why ... why people?    I'm donating one friggin lousy bitcoin, why is it mandatory that I sign up an account?)

And I wait for the confirmation e-mail, and I wait, and I wait.

Until ... I check my spam folder.  And there it is. 
(You do have SPF, which is good to see, but for some reason gmail flagged it as spam)

But, in the e-mail message I see my password.  Thank you for that reminder -- I almost might have forgotten what I had entered for password just a few minutes earlier without that reminder.  And now I'm sure that an admin at my ISP or somewhere between BitconiFunding.com's server and my inbox really does appreciate you sharing in clear text the password that I used for this account as well.

So finally, I am logged in, and I see the project I want to fund, I assume that I need some bitcoins in my account, so I click Add Funds.  I see some message about PayPal cart navigation, ... but I'm going to assume that will get cleaned up eventually.  So then the moment I'm waiting for ... add 1.0 BTC, and ...  FAIL.

"Minimum ฿2.00 is required."

Why?

If I just want to give 0.01 BTC even I should be able to donate 0.01 BTC.  Right?

[Phinnaeus Gage]

I took a quick glance at the site, and do like what I see, BF.com. I sure do hope it gains some traction from this Bitcoin community and beyond.

I'm sure, Stephen Gornick, that BF will address the important issues you've outlined, for currently I have no reason to doubt that he won't.

Watching this thread!

~Bruno~

[BitcoinFunding.com]

"Minimum ฿2.00 is required."

Why?

If I just want to give 0.01 BTC even I should be able to donate 0.01 BTC.  Right?

You will have to convince me that .10 donations are in the best interests of project makers.  I am doubtful that it is but I am open to hearing arguments as to why a project may be worth .10 to donate towards.

I am looking into the other concerns raised here but FB and Twitter logins are not supported at this time.

[FreeMoney]

"Minimum ฿2.00 is required."

Why?

If I just want to give 0.01 BTC even I should be able to donate 0.01 BTC.  Right?

You will have to convince me that .10 donations are in the best interests of project makers.  I am doubtful that it is but I am open to hearing arguments as to why a project may be worth .10 to donate towards.

I am looking into the other concerns raised here but FB and Twitter logins are not supported at this time.

Are you posting them manually?

This feels like one of those math proofs of statements that are trivially true and I have no idea what kind of argument would be required.

[BitcoinFunding.com]

Are you posting them manually?

Posting what manually?

[mav]

"Minimum ฿2.00 is required."

Why?

If I just want to give 0.01 BTC even I should be able to donate 0.01 BTC.  Right?

You will have to convince me that .10 donations are in the best interests of project makers.  I am doubtful that it is but I am open to hearing arguments as to why a project may be worth .10 to donate towards.

I am looking into the other concerns raised here but FB and Twitter logins are not supported at this time.

<sarcasm> I'm a project. I want money. No I won't take your small contribution. </sarcasm>

Convinced?

How is 1000x0.1 btc contributions different to 1x100 btc contributions? There is no difference for the project because at the end of the day they have their donations.

[BitcoinFunding.com]

How is 1000x0.1 btc contributions different to 1x100 btc contributions? There is no difference for the project because at the end of the day they have their donations.

Yeah but... that is 900 times more work... or 900 times more quantity of angel investors which quite frankly I am not sure a service like this will end up with that many users within the foreseeable future.  As the administrator it is my responsibility to make sure projects can get funded within the time limit before they expire and the site is nowhere near a 1000 x N number of contributors.  Maybe it will be different in 6 months or a year from now, no one knows, I am open to being convinced that I am wrong  

[Stephen Gornick]

[Yeah but... that is 900 times more work

That's a problem?   I thought that once software was written to accomplish a task that performing that task 900 more times then didn't cost much more than running it just once.

quite frankly I am not sure a service like this will end up with that many users within the foreseeable future.

If I donate 1 bitcent it is because I want to add it to my portfoloio (to "follow" the project).    If I'm following it, that gives the project owner an invite to contact me (with updates to all contributors).  If I'm getting updates or other contact, I'm more likely to add more funds later than if I hadn't "followed" it to begin with.

Remember, these are donations.  And at this early stage of the game, you need the support of every person who might even thiink sending a bitcent might be a good idea.   You gotta build community and setting a high threshold in order to particpate is not the way to do it.   I didn't decide, oh ... 2.0 is the minimum so I'll raise my deposit amount, I said screw that and logged off.

Because I want to see this project thrive is the only reason I came around here to post my experience.

It is great to see this project, ...I just offered my suggestions hoping you'ld consider them.  If someone takes the time to provide feedback it is probably important enough to try to understand why they did so.

[Update: If nothing else, show an address so I can donate to the project anonymously.  That way regardless of the minimum, I can still give 0.01 BTC)]

[BitcoinFunding.com]

Yes and I am greatful for that.  In "the business equation" of the early days of this project I have a theory that "greater contributions" will equal to a higher success rate of projects and that lesser contributions will contribute to a higher rate of projects being unsuccessful (which is obviously not my goal).  I think at some point it will definitely become true that lesser amounts of contributions will be worthwhile.

It could be that my vision of what projects will need in order to be successful is overreaching what folks will be asking for.  But at the same time I am not aiming for this to be purely a micro-donation service or a lending service, this forum is good enough for lending IMO.  This site is designed to be highly specialized with future plans to include more substantial resources to contributors and project makers and I think a minimal deposit value sends the message that this is a serious endeavor.

I think that when we can prove we have success stories, then we can lower the barrier for entry.

[kiba]

Yeah but... that is 900 times more work... or 900 times more quantity of angel investors which quite frankly I am not sure a service like this will end up with that many users within the foreseeable future.  As the administrator it is my responsibility to make sure projects can get funded within the time limit before they expire and the site is nowhere near a 1000 x N number of contributors.  Maybe it will be different in 6 months or a year from now, no one knows, I am open to being convinced that I am wrong  

Kickstarter type projects have investors? 

[mav]

Yeah but... that is 900 times more work...

more work for who? nobody as far as I can tell. 900 people make 900 donations. The project coordinator takes one lump of money. That's one piece of work for each person involved. If you expect a few big whales to jump on board and huzzah the project is done then 2btc is an absurdly low limit. If you want it to be a place for angels to dump on people, you need to make the site more explicitly oriented to that. If you want it to be a place for a community to fund a project, you need to allow the community to do what they think is most appropriate to get that done, which isn't always at least Xbtc.

I'm conflicted about the purpose of your site. It looks like a way to scrape money together for a project, but it requires a minimum donation.

It's a good idea but forcing arbitrary restrictions on your users without a strong business case seems like you're only limiting your market and not achieving a particular business goal.

"greater contributions" will equal to a higher success rate

Fair enough if that's your decision, but if a 2btc limit is the lowest donation, you could still end up with many 2btc donations to get any decent project running. It's such a 'picked from the air' limit... it weakens the purpose of your idea. It needs to be 'big donations only' or 'any size' so that people get a good sense of what you're trying to achieve. This current limit just causes confusion.

As the administrator it is my responsibility to make sure projects can get funded within the time limit

This seems like a strange requirement to place on yourself. How can you be responsible if people simply don't want to contribute? I would have thought your service is a 'build it and they will come' situation more than a 'build it and I will make sure they come' arrangement.

As a final word of encouragement, because I do genuinely like your idea, have a look at how kickstarter does this. Have a look if they have limits. Look at their most popular projects and (if you can) find out what kind of amounts were donated. Let's not pretend - this is a blatant kickstarter copy. Learn from them and improve upon what they've already figured out.

[BitcoinFunding.com]

It is a great time to raise funds for your projects in Bitcoin!  Sign up today!

[BkkCoins]

It does seem like the OP is requesting feedback and then just blowing it off. I'll be waiting for something like this without minimums. A microfunding Bitcoin site. I can understand having a lower limit for Paypal or other methods that takes fees like that. But for Bitcoin? Someone will come along and do this with no limitations, sooner rather than later and if you're not already the market leader then, well, you know.

Given the current community size of Bitcoin I don't believe trying to make an impression by scoring big value funding is the way to go. It's important to leverage the flexibility of Bitcoin to do what other crowd funding sites cannot.

BTW You may want to search/replace occurrences of "kickstarter" on your help pages and replace them with "BitcoinFunding".

[Explodicle]

I'm also failing to understand your rationale for the limit.

Who are you? The "about us" page didn't have your names or addresses, nor did a whois.

Do you plan to eventually use multisignature transactions?

[bbit]

This looks oddly familiar....

http://www.akickincrowd.com/  ?

[gbl08ma]

Hmmm... I find this a bit phishy specially after the link bbit posted.

As for a Bitcoin-accepting crowdfunding system, I'm satisfied with http://booster.io (even though I got little money from it and its friend propster.me). Allows for anonymous contributions with no lower limit ("Pledge Anonymously").

[Phinnaeus Gage]

This looks oddly familiar....

http://www.akickincrowd.com/  ?

There's a Tony Reynolds over at SecurePay (search this forum for that term), but I'm not sure if it's the same guy.

~Bruno~