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I want to crowdfund a Bitcoin neon sign for local biz.

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jorj_x_mckie

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Location: Portland OR

Adam, is there a way to use Toikenly to automate an escrow for the funds? Any ideas? I'd like to avoid fees that are typical of most crowdfunding... we're only talking $200-300 I think.

BTW, the location is a really cool restaurant in Portland's Pearl district that is only a few blocks from world famous Powell's books and on the fancy streetcar line. It could be the coolest and most prominent BTC neon in existence if it comes off. I see no reason why it wouldn't fund in a few hours even. Owner is keen on idea and likes bitcoins. :-)

Posted on October 19, 2015 at 12:22 PM

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• adam

  

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  Location: California, USA

  Generally you'd use a token in crowdfunding because there is some kind of reward or prize that you want people to be able to use in token form. Is the owner willing to do store credit, or a "beer on tap", "$1 worth of credit" or something? If that's the case you'd just create and sell that token and only load the vending machine with however many you need to raise the amount you want. If you don't reach your goal you can refund all the current holders easily and the token will be invalid.

  We don't really have any brick and mortar point of sale token redemption solutions yet but there are Counterparty compatible mobile clients on both iOS and android. The way it would work for now is the owner would need to have the wallet installed on a mobile device and they could take payment via the mobile device.

  If you're just wanting to crowdfund without giving any rewards I'd say just set up a bitcoin address, although you could set up a Tend store to also allow you to accept credit cards.

  Posted on October 19, 2015 at 2:11 PM
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• jorj_x_mckie

  

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  Thanks for the reply. I'm probably going to go with a multisig Copay address for funding and how the co-parties involved have enough public reputation to make this work.

  Posted on October 19, 2015 at 8:18 PM
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• astantoid

  

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  Location: Jakarta

  good idea, u restourant can accept Bitcoin and other altcoin

  Posted on October 19, 2015 at 10:55 PM
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• adam

  

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  @jorjxmckie Thanks for the reply. I'm probably going to go with a multisig Copay address for funding and how the co-parties involved have enough public reputation to make this work.

  Just to be clear, you could do the copay multi-sig and use that address to store funds until the goal is hit. That's basically a seperate layer from whether you use a token or not

  Posted on October 20, 2015 at 2:28 AM
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• jorj_x_mckie

  

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  Update: Frankenmint (from Reddit r/bitcoin) and me have successfully raised the funds in only a few days. The rise in BTC/USD has helped a bit too. Planning on getting the order placed tomorrow morning. Thanks to any and all who donated!

  Posted on November 1, 2015 at 11:26 PM
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• Dr.Forum

  

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  It is a good thing and decision that you are thinking of. I really do not know why I have this great passion that the coins will do well. Crowdfunding is something that I can encourage to be done because it will be of great importance. It will be able to acts as an marketing tool and be able to let people know more about the bitcoins. I have never been engaged in crowdfunding before but am very willing to learn and move together buddies. Adam can help here a lot.

  Posted on January 6, 2016 at 11:23 AM
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• jorj_x_mckie

  

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  Dr. Forum, I was looking at the early peek at Open Bazaar and noticed that crowd funding is in the works in addition to the typical online marketplace buying & selling. That is very cool. Also 'Ebay style' auction pricing for the stuff you are selling. These decentralized tools are a boon for civilization, and we have grabbed the front row seats to a rolling paradigm shift in realtime.

  Posted on January 7, 2016 at 6:37 PM
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