Re: Banks are killing us! Fund a pilot project (no ICO) completely in BTC???
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.