Feathercoin Kickstarter - Ideas are just multipliers of execution
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I am on board with the Idea of doing a Feathercoin Kickstarter I believe Crowd Funding is the way of the Future in Building New Businesses!
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So, where do we point our miners to fund the cause? ;D
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Right let’s make this happen.
There are decisions to be made, should we thrash them out in here or set up a new thread?
They are:
[b]Ideas Board[/b] This is the first round where people pitch their idea, if they are selected they get to progress on to the round 2
[list type=decimal]
[*]How long should people have to get feedback on their idea eg 3 days? 7 Days?
[*]Should they have to raise a deposit?
[*]If so how much?
[*]Should there be a format to the pitch, ie Brief Summary, Description of Problem, Solution?
[*]How should people qualify for the Projects Board? Should there be a panel of judges?
[/list][b]Projects Board[/b] This is round 2 where people are held accountable
[list type=decimal]
[*]Should there be mods like [url=http://forum.feathercoin.com/index.php?topic=3687.msg28328#msg28328]@T4rQu1N[/url] who watch each project and keep people held to deadlines?
[*]On what condition should people lose their deposits? E.g. If they make the deadline but fail to deliver on what they proposed? OR If they fail to reach deadline
[*]Could we do a 3 strikes and you’re out rule to take the edge off?
[*]If the deposit is lost how should the FTC be distributed? Given out randomly to community members with a Reddit style Tipbot? Given to someone else in Projects Forum as investment?
[/list]These are just to get things started, please suggest your own ideas. I’d like to make this fun as well as productive. I am off out now to Silicon Drinkabout, you can expect some live tweets as usual. There will be more announcements over the weekend but hopefully we can get the kickstarter nailed in the next 7 days.
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[quote name=“chrisj” post=“28633” timestamp=“1379694530”]
[list][*]How long should people have to get feedback on their idea eg 3 days? 7 Days?[/list]
[/quote]7 days is fair. It’s long enough to weed out the undedicated and let people have a chance to respond, but short enough to keep things moving.
[quote]
[list][*]Should they have to raise a deposit?[/list]
[/quote]You mean like put their own money down? That’s not a bad idea at all!!!
[quote]
[list][*]If so how much?[/list]
[/quote]1% of the total funds raised. If they want 10,000 Feathercoins, they have to put in 100. If they want 100,000, that’s 1,000.
[quote]
[list][*]Should there be a format to the pitch, ie Brief Summary, Description of Problem, Solution?[/list]
[/quote]Yes. Elevator pitches are important, but so are the detailed solution. Videos should be encouraged too. Above all, TRANSPARENCY needs to be encouraged. Investors deserve to know WHO they are investing in, and people should not hide behind forum handles. This is real money we’re talking about here.
[quote]
[list][*]How should people qualify for the Projects Board? Should there be a panel of judges?[/list]
[/quote]Let their be a round of voting each week, as well as a “no confidence” option. You must beat every other project in votes, AND beat the no confidence vote as well. The one who does each week progresses, or if no confidence wins, no one progresses.
[quote]
[b]Projects Board[/b] This is round 2 where people are held accountable
[list][*]Should there be mods like [url=http://forum.feathercoin.com/index.php?topic=3687.msg28328#msg28328]@T4rQu1N[/url] who watch each project and keep people held to deadlines?[/list]
[/quote]Yes, and a treasurer too.
[quote]
[list][*]On what condition should people lose their deposits? E.g. If they make the deadline but fail to deliver on what they proposed? OR If they fail to reach deadline[/list]
[/quote]Under no circumstances. People should receive their funds at the beginning of the project, not at the end. Otherwise we’re running a bounty board, not a kick starter. They made it to the funding round, they put their deposit down, so the funding campaign began. Either they reached their total before the deadline, in which they get everything, or they didn’t, in which deposits are returned, including the original %1.
[quote]
[list][*]Could we do a 3 strikes and you’re out rule to take the edge off?[/list]
[/quote]No. Zero tolerance for deadbeats. If you take the money, and you don’t deliver, you can’t ask for more, and you can’t do something else. If you deliver late, but you deliver, then you’re ok to go again, but the public will know last time you delivered late.
[quote]
[list][*]If the deposit is lost how should the FTC be distributed? Given out randomly to community members with a Reddit style Tipbot? Given to someone else in Projects Forum as investment? [/list]
[/quote]There should be no penalty for not getting funding, and no reward for not helping someone get funding. If the campaign is a success, the organizers can take a percent for themselves before the person gets their funds, but if the campaign doesn’t reach it’s funding goal, then all the money goes back to it’s owners, and NO rewards for failure should be given out.
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^^
And you want to ban this guy??
We need more people like Kevlar!! -
[quote name=“mirrax” post=“28637” timestamp=“1379697425”]
^^And you want to ban this guy??
We need more people like Kevlar!!
[/quote]I don’t want to ban him, I’m a lover not a fighter.
So Mirrax your thoughts on the decisions?
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[quote name=“Kevlar” post=“28636” timestamp=“1379697029”]
There should be no penalty for not getting funding, and no reward for not helping someone get funding. If the campaign is a success, the organizers can take a percent for themselves before the person gets their funds, but if the campaign doesn’t reach it’s funding goal, then all the money goes back to it’s owners, and NO rewards for failure should be given out.
[/quote]This is very thorough thanks, I am on the move but a brief skim read looks good. Let’s hear more from the others now!
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Can we replace stupid perks (my activist side just plain reels back from these abominations) and instead make clear what portion of the project would be possible at each stage?
Maybe the donors who get the project from one stage to the next could be personally invited to a short chat about what that stage of the project is about.
Too many crowd funding systems treat people like they are five years old.
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[quote name=“chrisj” post=“28638” timestamp=“1379697549”]
So Mirrax your thoughts on the decisions?
[/quote]I think this whole idea is premature now and its waste of your time.
C’mon, we are not able to raise even 1000FTC for contest during 2 months! -
[quote name=“zerodrama” post=“28640” timestamp=“1379698120”]
Can we replace stupid perks (my activist side just plain reels back from these abominations) and instead make clear what portion of the project would be possible at each stage?Maybe the donors who get the project from one stage to the next could be personally invited to a short chat about what that stage of the project is about.
Too many crowd funding systems treat people like they are five years old.
[/quote]Is this what you mean?
[img]http://static.fjcdn.com/gifs/Dog+Knocks+Over+Kid.+Kid+just+won+t+stay+down_196bad_4356974.gif[/img]
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[quote name=“mirrax” post=“28641” timestamp=“1379698220”]
[quote author=chrisj link=topic=3687.msg28638#msg28638 date=1379697549]
So Mirrax your thoughts on the decisions?
[/quote]I think this whole idea is premature now and its waste of your time.
C’mon, we are not able to raise even 1000FTC for contest during 2 months!
[/quote]I have some tricks up my sleeve. If you work with me here and leave this part up to me let me know how you think it should be run; I do value your opinion.
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[quote name=“chrisj” post=“28633” timestamp=“1379694530”]
Right let’s make this happen.There are decisions to be made, should we thrash them out in here or set up a new thread?
They are:
[b]Ideas Board[/b] This is the first round where people pitch their idea, if they are selected they get to progress on to the round 2
[list type=decimal]
[*]How long should people have to get feedback on their idea eg 3 days? 7 Days?[/list]
[color=red][b]14days[/b][/color]
[list][*]Should they have to raise a deposit?[/list]
[color=red][b]they must[/b][/color]
[list][*]If so how much?[/list]
[color=red][b]10% or more of target amount[/b][/color]
[list][*]Should there be a format to the pitch, ie Brief Summary, Description of Problem, Solution?[/list]
[color=red][b]no[/b][/color]
[list][*]How should people qualify for the Projects Board? Should there be a panel of judges?[/list]
[color=red][b]i have no idea for this point[/b][/color]
[/list][b]Projects Board[/b] This is round 2 where people are held accountable
[list type=decimal]
[*]Should there be mods like [url=http://forum.feathercoin.com/index.php?topic=3687.msg28328#msg28328]@T4rQu1N[/url] who watch each project and keep people held to deadlines?[/list]
[color=red][b]yes[/b][/color]
[list][*]On what condition should people lose their deposits? E.g. If they make the deadline but fail to deliver on what they proposed? OR If they fail to reach deadline[/list]
[color=red][b]both conditions[/b][/color]
[list][*]Could we do a 3 strikes and you’re out rule to take the edge off?[/list]
[color=red][b]no[/b][/color]
[list][*]If the deposit is lost how should the FTC be distributed? Given out randomly to community members with a Reddit style Tipbot? Given to someone else in Projects Forum as investment? [/list]
[color=red][b]again no idea from me[/b][/color]
[/list]
[/quote] -
Thanks so much Mirrax
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This is Fantastic I am definitely going to help with this Kickstarter!
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I’d be interested to see this or another system for crowd sourced investment used to encourage crypto service start-ups. While this could just pertain to services involving cryptocoins, I think it would be more important to encourage all kinds of service work. The development of the service sector is integral to the enrichment and expansion of cryptocurrency.
We shouldn’t limit the coins to be used only to buy goods, gamble, or trade on the exchanges. I should be able to have my lawn mowed, my car washed, and my son tutored for FeatherCoin/Bitcoin. While getting these services up and running doesn’t require a Kickstarter in the fiat world, having something analogous in the crypto world might help accelerate the economic development of the servicee sector (which is lagging behind the fiat one very badly).
Just a thought, what do you guys think?
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[quote name=“Chaoskampf” post=“29047” timestamp=“1380038596”]
I’d be interested to see this or another system for crowd sourced investment used to encourage crypto service start-ups. While this could just pertain to services involving cryptocoins, I think it would be more important to encourage all kinds of service work. The development of the service sector is integral to the enrichment and expansion of cryptocurrency.We shouldn’t limit the coins to be used only to buy goods, gamble, or trade on the exchanges. I should be able to have my lawn mowed, my car washed, and my son tutored for FeatherCoin/Bitcoin. While getting these services up and running doesn’t require a Kickstarter in the fiat world, having something analogous in the crypto world might help accelerate the economic development of the servicee sector (which is lagging behind the fiat one very badly).
Just a thought, what do you guys think?
[/quote]I think you’re 100% on the mark. +1
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I feel that we have a lot to offer through our Marketing Alliance we are putting together over at ADSactly sure right now it needs a Ton of Work and I understand that we are working very hard to get all the Tools and Services ADSactly will be offering to be Available for purchase by using Feathercoins. What we need to make this a Reality is a Large Amount of Feathercoins that we can have on reserve for fluctuations in the market.
We have many Ideas that will help put Feathercoin in-front of thousands of individuals and businesses looking for an Alternative to the Fiat Money System we are currently being Controlled by.
I have spoken to Chris a few Days ago regarding working together with the Feathercoin Community to get the Capital needed to make pretty much anything possible with the Feathercoin Community we all have great ideas and many of the people in this great community are very skilled in Training, Article Writing, SEO, Advertising, Art, Graphics, Programming… The List goes on and on. ADSactly is planning to create Global Marketing Alliance that is driven by people that care about helping others and making a Better World.
I hope we can Grow this Community into Millions of People who are Educated in Alternative Money forget these Fiat Currencies people the the US Dollar is worth less than 2 Cents because we have been sleeping for far to long and have allowed a small group of people to hijack our Banks and sadly even our Country.
We all have to Stand up and work together to create systems that provide people with everything they need to make a difference in anybodies life by providing true value and products that people need at prices everybody can afford.
I look forward to hearing your comments and suggestions.
Have a Great Day!
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Firstly, apologies for not being around lately, I am on trials with work, in a tempested building in a room with no windows…its fun, honest!
Anyway, before any project gets off the ground, and as an investor, I would like to see some sort of solid business plan. Nobody in their right mind is going to front up some cash (or coins) without reasonable confidence that something is going to come out the other end. To this end, I suggest each potential project be required to fill out a business model canvas; this youtube video explains it pretty well; [url=http://www.youtube.com/watch?v=QoAOzMTLP5s#ws]Business Model Canvas Explained[/url]
I have a template somewhere on my gmail I can share with my associates ;), or we could build this into the submission method?
Don’t get me wrong, I’m not suggesting that every box needs filling, or that there aren’t any decent projects which won’t ever have revenue, but using a structured approach such as this is extremely helpful for the enthusiastic entrepreneur to totally scope out their idea, and prove to the community that they have actually thought seriously about their idea.
Another concern I have, is the generation of IP. I completely agree that open source is better; after all, crowd sourcing solutions is a brilliant way to expand and improve an idea, but I would be slightly worried that if I had a really good idea and it was posted in an open forum, someone else could easily take it and build it before it’d even got off the ground. I’m not sure how to address this though… I was thinking if this ‘Koinstarter’ was a separate website, we could at least enforce some kind of NDA for all signups, and somehow link it to a real profile rather than an online avatar? After all, people are investing real money/money with real value into it… I don’t know.
Also, if this is a proper website, once we’ve started it up, there are going to be many many copies for all the other cryptocurrencies. I suggest we launch with FTC, but with the immediate option of switching on BTC and LTC funding channels if it is popular. Just my two cents!
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[quote name=“T4rQu1N” post=“29267” timestamp=“1380225547”]
Firstly, apologies for not being around lately, I am on trials with work, in a tempested building in a room with no windows…its fun, honest!Anyway, before any project gets off the ground, and as an investor, I would like to see some sort of solid business plan. Nobody in their right mind is going to front up some cash (or coins) without reasonable confidence that something is going to come out the other end. To this end, I suggest each potential project be required to fill out a business model canvas; this youtube video explains it pretty well; [url=http://www.youtube.com/watch?v=QoAOzMTLP5s#ws]Business Model Canvas Explained[/url]
I have a template somewhere on my gmail I can share with my associates ;), or we could build this into the submission method?
Don’t get me wrong, I’m not suggesting that every box needs filling, or that there aren’t any decent projects which won’t ever have revenue, but using a structured approach such as this is extremely helpful for the enthusiastic entrepreneur to totally scope out their idea, and prove to the community that they have actually thought seriously about their idea.
[/quote]I would strongly suggest against this model.
Kickstarters are NOT angel investments. They’re funding for a specific product, solution, or concept. You are not an investor in a business, you’re an early adopter and supporter of an individual or group with an idea. You’re purchasing a product, not funding a bankroll. You’re not taking equity, so things like customer segments, value propositions, channels, customer relationships, revenue streams, etc. don’t even matter at all, since the answer to all of those is likely to be, “Don’t know, don’t care. Just buy my product if you think it scratches your itch.” and most supporters are more like, “Shut up and take my money for your awesome product/idea” rather than, “Well how do I hedge my risk?”
[quote]
Another concern I have, is the generation of IP. I completely agree that open source is better; after all, crowd sourcing solutions is a brilliant way to expand and improve an idea, but I would be slightly worried that if I had a really good idea and it was posted in an open forum, someone else could easily take it and build it before it’d even got off the ground. I’m not sure how to address this though… I was thinking if this ‘Koinstarter’ was a separate website, we could at least enforce some kind of NDA for all signups, and somehow link it to a real profile rather than an online avatar? After all, people are investing real money/money with real value into it… I don’t know.Also, if this is a proper website, once we’ve started it up, there are going to be many many copies for all the other cryptocurrencies. I suggest we launch with FTC, but with the immediate option of switching on BTC and LTC funding channels if it is popular. Just my two cents!
[/quote]Open source is better than what? Proprietary? Creative Commons? Licensing? Shared source? Public domain? It depends on what your goal is here, and each model has it’s proper place and time.
If an idea is so easily implemented, then it’s not worth funding, because someone can just go implement it and no need to raise funds. Such problems tend to solve themselves. There’s no way to enforce an NDA, so there’s no point in having one.
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Thanks so much for all this input! I don’t have time to read all this right now, I need some sleep but I need to reboot this thread because I want more voices in this dialogue. Does anyone object if I create a new thread where we just discuss this process?
