Topic: Banks are killing us! Fund a pilot project (no ICO) completely in BTC??? - page 2. (Read 358 times)
February 21, 2020, 01:32:30 AM
If you ever find investors that are willing to invest BTC in your project,you will have to sign contracts with them clarifying profit shares,refund policies(if the project fails),liabilities,and all the other legal stuff that gives the investors some sort of guarantee that you are not a scammer(and if you are a scammer,they could sue you,because you broke that contract).If you are not willing to sign such contracts,then begging for cryptocurrency donations and crowfunding(which is kinda similar to asking for donations) are your only options.
February 21, 2020, 12:53:07 AM
calling it not an ICO doesn't change anything. the problem with ICOs and any other name you want to use for a fund raising is that they don't do anything at all. basically they choose the easiest way of receiving money by doing nothing (no service, no business, no product,...).
similarly if you just want to explore your ideas by spending a little of your money and effort but with other people's money, it is never going to work.
gamblers invest in the above while investors only invest in real businesses with real service or product. for example a casino with real customers (players) and certain clear amount of money they handle and have a good track record of making profit that wants to expand and needs investors can easily raise funds.
similarly if you just want to explore your ideas by spending a little of your money and effort but with other people's money, it is never going to work.
gamblers invest in the above while investors only invest in real businesses with real service or product. for example a casino with real customers (players) and certain clear amount of money they handle and have a good track record of making profit that wants to expand and needs investors can easily raise funds.
February 20, 2020, 07:07:15 PM
Think about it from investors point of view - why should they give their bitcoins to strangers, even if they present some very good business plan, if there's always a huge risk that it's just a scam? Banks have legal power to take back what is owed to them, but in Bitcoin there's no such opportunity. If banks don't give you loans, seek angel investors or VC, try some fiat crowdfunding platforms like Kickstarter.
Also, there's a board on this forum for pitching your projects to potential investors, you can try your luck there.
I supported what you said but I'm a crypto investor will be interested not even when halving is coming. However, i think the OP and his team need to prove their genuinely through getting a license because if they had licensed their previous fund won't have been frozen. Besides, it will boost some investors confidence. In the meantime, you can also make use of indiegogo maybe will be lucky.Also, there's a board on this forum for pitching your projects to potential investors, you can try your luck there.
February 20, 2020, 12:32:59 PM
I think that raising funds might be an option, but I would not set the hopes high. After all, there've been and still are too many scams. And besides, why would people want to invest in an ATM project? There are some ATMs out there around the world, and I've never seen anyone raising money to put another one. You could try to raise money on Kickstarter, I guess, but there's a very tricky part here: investors would be interested in withdrawal fees being very high since it would mean bigger profit for them (or not?), whereas potential users would not like it and ATMs are in fact famous for overly expensive fees. Since this is mainly the community of potential users rather than investors, it would not be easy to find sympathetic people for this project, I believe.
February 19, 2020, 10:07:48 PM
The track record of crypto businesses is genuinely disgusting. No way would I ever, ever, ever, ever put money into a crypto business.
Exactly. Only few lunatics will agree to fund certain projects using btc. With losing ability of ICOs or new project to provide a strong project that never fades out. I am afraid no one in their right mind would give or invest. I know there are some places like KICKICO or similar (not sure they work) but I was looking for something more like a "micro-kick" ICO.
Anyway, seems like the VC/Angel/Fiat route is the one we will have to stick with. Thanks for the input.
Problem here is the assurance of those who will that they can get at least something in return or constant insurance that their money would not be wasted test run project can be good and somehow progress but not all will be on that position.Anyway, seems like the VC/Angel/Fiat route is the one we will have to stick with. Thanks for the input.
Angel Investors do invest with new projects but their technical requirements and standard are too high.
February 19, 2020, 09:51:27 PM
I would recommend that you raise the necessary funds among yourselves first. I believe you are a group. Go to people who personally know and trust you. And then make even a short yet stellar track record and perhaps you may present your extension plan to angel investors or even here. It is hard to attract investors nowadays for a project starting from scratch. What you are asking is a funding for your test, which may turn out good or bad.
Also, those epayments and bank accounts will probably be opened back for you or at least give you back your funds after complying certain requirements. They must have been blocked for certain reasons not really illegal. So I guess you don't really need to ask for investments from random people. You just need to iron things out with your bank accounts to get back your funds. That situation is not yet a dead end, I suppose.
Also, those epayments and bank accounts will probably be opened back for you or at least give you back your funds after complying certain requirements. They must have been blocked for certain reasons not really illegal. So I guess you don't really need to ask for investments from random people. You just need to iron things out with your bank accounts to get back your funds. That situation is not yet a dead end, I suppose.
February 19, 2020, 07:53:58 PM
The track record of crypto businesses is genuinely disgusting. No way would I ever, ever, ever, ever put money into a crypto business. Almost every single one has failed or disappeared. If a hardened crypto fan feels that way do not expect any conventional funding route to feel differently.
The few crypto businesses that do make money tend to attract heavyweight funding completely separate from banks or pipsqueak investors.
As mentioned above there's a section here to look into funding. You will get much further offering collateral. There's a lot of money swilling around. Plenty of it will be demanding.
The few crypto businesses that do make money tend to attract heavyweight funding completely separate from banks or pipsqueak investors.
As mentioned above there's a section here to look into funding. You will get much further offering collateral. There's a lot of money swilling around. Plenty of it will be demanding.
February 19, 2020, 07:38:22 PM
Think about it from investors point of view - why should they give their bitcoins to strangers, even if they present some very good business plan, if there's always a huge risk that it's just a scam? Banks have legal power to take back what is owed to them, but in Bitcoin there's no such opportunity. If banks don't give you loans, seek angel investors or VC, try some fiat crowdfunding platforms like Kickstarter.
Also, there's a board on this forum for pitching your projects to potential investors, you can try your luck there.
Also, there's a board on this forum for pitching your projects to potential investors, you can try your luck there.
Yeah, I do understand your points. I see it a lot, "why would... bitcoin to strangers", however any early stage investment has that risk (VC/ICO, etc.) and there is no real protection for the investors in those cases either. It is high risk/high reward - just wondering if there was a way to eliminate the "scam" part (some type of transparency).
I think there should be a way for people to invest in "micro-rounds" (or micro crowdfunding), or something like that where people could invest and then get proof the money was used the right way, and if they are satisfied, move to a second, third, fourth round, etc. Or something that is kept 100% in crypto/blockchain/smart contracts, etc.? I thought blockchain/smart contracts were supposed to make it all easy and transparent!
I know there are some places like KICKICO or similar (not sure they work) but I was looking for something more like a "micro-kick" ICO.
Anyway, seems like the VC/Angel/Fiat route is the one we will have to stick with. Thanks for the input.
February 19, 2020, 06:47:05 PM
Think about it from investors point of view - why should they give their bitcoins to strangers, even if they present some very good business plan, if there's always a huge risk that it's just a scam? Banks have legal power to take back what is owed to them, but in Bitcoin there's no such opportunity. If banks don't give you loans, seek angel investors or VC, try some fiat crowdfunding platforms like Kickstarter.
Also, there's a board on this forum for pitching your projects to potential investors, you can try your luck there.
Also, there's a board on this forum for pitching your projects to potential investors, you can try your luck there.
February 19, 2020, 04:41:41 PM
HI,
What is the best way to get in investors involved in a new project, yet give them ample protection? I am not talking about a large ICO/STO, but rather just to get a minimal viable product off the ground (a new BATM project, starting with a single unit). Yes, of course there are risks - ANY new project carries investment risk, but is there a best practice or process for investor transparency at a micro-level?
Seems easy enough and we were planning on doing it the traditional way however we have been thwarted by two separate banks (iaccount.cc first took off with our money, a significant amount which hurt quite a bit, and just as we were back on our feet to start with a few units, epayments.com then froze all their customer accounts!!!).
I have gone from a "speculator" to someone who wholeheartedly believes WE SHOULD ALL BE USING CRYPTO and avoiding banks.
Anyway, could someone guide me on the best/fair/transparent way to fund a "test" project using BTC? Hopefully completely avoiding bank interference?
Thanks.
What is the best way to get in investors involved in a new project, yet give them ample protection? I am not talking about a large ICO/STO, but rather just to get a minimal viable product off the ground (a new BATM project, starting with a single unit). Yes, of course there are risks - ANY new project carries investment risk, but is there a best practice or process for investor transparency at a micro-level?
Seems easy enough and we were planning on doing it the traditional way however we have been thwarted by two separate banks (iaccount.cc first took off with our money, a significant amount which hurt quite a bit, and just as we were back on our feet to start with a few units, epayments.com then froze all their customer accounts!!!).
I have gone from a "speculator" to someone who wholeheartedly believes WE SHOULD ALL BE USING CRYPTO and avoiding banks.
Anyway, could someone guide me on the best/fair/transparent way to fund a "test" project using BTC? Hopefully completely avoiding bank interference?
Thanks.
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