tugboat12
Posts: 2
Joined: Thu Oct 13, 2016 5:41 pm

Bitcoin Version of Kickstarter?

Thu Oct 13, 2016 5:45 pm

So, question: Is there a Bitcoin version of Kickstarter? A platform where people can pitch ideas for businesses/products to the masses and find backing through Bitcoin? I am looking at launching a business and was thinking about this idea as a potentially amazing platform.

Also, please forgive my ignorance, but is has Bitcoin been classified as a money or commodity, by the IRS? The reason for this second question is due to the S.E.C. trying to "protect" small investors... If Bitcoin isn't considered a money, but a commodity, then I could see it opening up the option for people to "invest" in a company via a kickstarter platform with Bitcoin, and eventually receive a dividend in Bitcoin. Even for a initial investment of $5 (unlike the $5 "donation" level most kickstarter campaigns have).

Barring the S.E.C. and the classification of Bitcoin, I imagine you could just once remove the Bitcoin through another Alt currency and accomplish the same thing.

I apologize if my thought process isn't as concise as it could be. Any input would be greatly appreciated. Thanks!

iFixBTCmemoryIssues
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Re: Bitcoin Version of Kickstarter?

Thu Oct 13, 2016 7:22 pm

So, question: Is there a Bitcoin version of Kickstarter? A platform where people can pitch ideas for businesses/products to the masses and find backing through Bitcoin? I am looking at launching a business and was thinking about this idea as a potentially amazing platform.

Also, please forgive my ignorance, but is has Bitcoin been classified as a money or commodity, by the IRS? The reason for this second question is due to the S.E.C. trying to "protect" small investors... If Bitcoin isn't considered a money, but a commodity, then I could see it opening up the option for people to "invest" in a company via a kickstarter platform with Bitcoin, and eventually receive a dividend in Bitcoin. Even for a initial investment of $5 (unlike the $5 "donation" level most kickstarter campaigns have).

Barring the S.E.C. and the classification of Bitcoin, I imagine you could just once remove the Bitcoin through another Alt currency and accomplish the same thing.

I apologize if my thought process isn't as concise as it could be. Any input would be greatly appreciated. Thanks!
Try this: https://bitshares.openledger.info

As for the IRS, Bitcoin is classified as an asset.

The best thing you can do would be to speak to a securities lawyer. They will give you pretty much all the information you need and it will be some of the best money you have spent.
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If you are running a version of Bitcoin Core, stop using it. Upgrade to Bitcoin Unlimited or Classic immediately.

Fix Your Unconfirmed Transaction.

Vote for the future of our Bitcoin network!

tugboat12
Posts: 2
Joined: Thu Oct 13, 2016 5:41 pm

Re: Bitcoin Version of Kickstarter?

Thu Oct 13, 2016 7:27 pm

Thanks for the tip about the Securities Lawyer. I will look into that.

As to the Openledger, it is just offering to make an account. I don't seem to find an "about" page. What is it? Thanks.

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