It's too bad that Crowdfunding is a term that covers both types ... donation-based crowdfunding and equity crowdfunding. Because the two couldn't have more different properties.
I stand corrected:
There are four main categories of crowdfunding: rewards, charity, lending and equity-based.
In rewards-based crowdfunding, funds are contributed in exchange for future goods or services. In charity-based crowdfunding, individuals and organizations accept donations from the general public. Reward- and charity-based are the most common forms of crowdfunding and are a good option for non-profit organizations, social causes, artistic projects, and product development. Companies like Kickstarter and Indegogo are prominent examples of rewards-based crowdfunding.
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Lending-based crowdfunding allows individuals and businesses to lend money from the “crowd” and repay it with an interest.
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Equity-based crowdfunding allows companies to get capital from the crowd by selling equity to accredited investors. In general, companies who want to be listed in equity-based platforms have to meet certain requirements like generating certain amount of revenue and passing a series of background checks.
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http://www.bbvaresearch.com/KETD/fbin/mult/1306_EEUUOutlook_2Q13_tcm348-392269.pdfObviously, Bitcoin-powered [i.e., w/ investor anonymity] equity crowdfunding is something they have no clue about and isn't even on their radar.
That ASICMINER (currently valued at $180 million ... ) exists, and is likely the most successful equity crowdfunded company in history (by all metrics, market cap, ROI, etc.) says these analysts have some learning to do, and quick!
