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Topic: [ANN] Max Keiser's website PirateMyFilm.com now accepts ONLY Bitcoins! (Read 11057 times)

donator
Activity: 2772
Merit: 1019
here some piratemyfilm.com fruits: http://www.youtube.com/watch?v=L33zlFBiXLk&feature=plcp (Bitcoin 2012 | Documentary)
legendary
Activity: 1232
Merit: 1001
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.
hero member
Activity: 742
Merit: 500
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
hero member
Activity: 742
Merit: 500

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
donator
Activity: 2772
Merit: 1019
Max Keisers crowdfunding site PirateMyFilm.com has now abandoned Paypal and fully converted to bitcoin. Well done Max and Stacy!
 
Quote
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!
legendary
Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
legendary
Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
I was about to tweet this and then the site started to malfunction. It's giving out "Internal Server Error". Sad
hero member
Activity: 742
Merit: 500
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.
legendary
Activity: 1372
Merit: 1002
Max Keisers crowdfunding site PirateMyFilm.com has now abandoned Paypal and fully converted to bitcoin. Well done Max and Stacy!
 
Quote
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.
legendary
Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
Wow. That is excellent.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
Max Keisers crowdfunding site PirateMyFilm.com has now abandoned Paypal and fully converted to bitcoin. Well done Max and Stacy!
 
Quote
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
full member
Activity: 197
Merit: 100
Max Keisers crowdfunding site PirateMyFilm.com has now abandoned Paypal and fully converted to bitcoin. Well done Max and Stacy!
 
Quote
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)
donator
Activity: 2772
Merit: 1019
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?
legendary
Activity: 2506
Merit: 1010
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
donator
Activity: 826
Merit: 1060
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?
donator
Activity: 2772
Merit: 1019
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 Wink
legendary
Activity: 2506
Merit: 1010
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!
hero member
Activity: 742
Merit: 500
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.
legendary
Activity: 2506
Merit: 1010
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?
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