From a legal point of view, it is better to do it with fiat currency.

Ingsoc is absolutely right regarding this and I applaud his efforts at ensuring a standard of transparency and professionalism.

In an ideal world, perhaps the world we're building, funding ideas through cryptocurrency is a huge step forward. Unfortunately, we're not there yet. There are a number of things to consider at present. Firstly, as much as banks can cause people headaches, in most cases money in an account is insured against theft. It'd be great if we could have something similar for a cryptocurrency as well one day. Secondly, we want to do this as professionally and transparently as we can with the medium available to us. The fact of the matter is that most individual developers or teams of developers would enter into a contractual agreement with us for the development of Netcoin, or a component of it. That means paperwork, invoices, documented transactions, etc. That could happen with cryptocurrency as well, but in all likelihood any breach of our agreement wouldn't be as enforceable as it would be in traditional systems.

I know it's not ideal, but I'm thinking of the best ways to my knowledge that we can do this as smoothly as possible. There are no guarantees whatsoever with this, which is why I want to stress that if you can't afford losing what you put toward the fund, please don't do it! It would be horrible to know that if something goes wrong someone suffered because of it. Having said that, tacotime, xwebnetwork, and myself are all putting in money of our own as well. Hopefully the advance notice will help you with this. I think one day this will all be very different and we can incubate ideas through new platforms for sure.