This week saw the quiet launch of something big. A new crowd funding platform that welcomes any project no matter where in the world you are! How can they remove such a limitation? Well by using a globally recognised currency that anyone can use, that of course would be Bitcoin.
Bitcoin Starter is like any other crowd funding platform such as Kickstarter or IndieGoGo, the difference being that it only accepts Bitcoin payments as contributions to projects! Other than that, the main rules stay the same. Anyone can submit a project, they write up their aim and they post it on the website saying how much they’re needing, what they’re planning to use it for and how long they have to raise the funds. If the target isn’t reached, the money is returned to the people who pledged it and if it’s successful, the pledgers get rewards for their help.
So what’s so great about using Bitcoin rather than dollars, euros, pounds, yen or indeed what ever currency you’re used to spending? Well for starters, no matter where you are in the world, your Bitcoin is usable and you don’t have to go through any lengthy process to open a bank account to use it. In fact, you don’t need a bank account at all, just a Bitcoin wallet on your device. If you don’t trust yourself to keep your Bitcoin safe on your device you can keep one online too but the important thing is, anyone can have one and trade online. It means that money can be sent instantly over the internet without payment providers taking large costs and without so much banking regulation (money is sent directly from user to user). More people are able to raise the Bitcoin they need to start a project, regardless of country, age, ability to open a bank account, everything!
Bitcoin is the worlds fastest growing currency, when I first started investigating, 1 BTC cost 48 GBP, now it costs 90 GBP and is fast heading toward £100 and that’s in just a couple of weeks. The rapid growth shows just how much people are trusting this new currency, especially after a rocky start with some pretty nasty press. My next post will be more about Bitcoin though, this one is about Bitcoin Starter.
As I say, it’s been a quiet launch but the creators have been kind enough to invite me to seek funds for My Agility Board on launch, therefore, My Agility Board is on the front page and looking for funds to help it expand. There are also other projects such as those seeking funds for a photographer who’s dream is to go to Pripyat in Ukraine so that he can photograph the home of the Chernobyl Disaster and another wishing to raise funds to buy Tablet computers for educational purposes in the world’s poorest areas.
It’s been a very quiet launch and it’s taking off very slowly but I’m sure as the Bitcoin community grows, so will BitcoinStarter.com, it’s definitely one to watch!