Feathercoin Kickstarter - Ideas are just multipliers of execution
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[quote name=“T4rQu1N” post=“29325” timestamp=“1380288905”]
[quote author=Kevlar link=topic=3687.msg29276#msg29276 date=1380232100]
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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.
[/quote]Again I disagree. I have an amazing idea which would generate a lot of interest, and could potentially have a great revenue stream for its owners, but I lack the skills to develop it. Someone with those skills however, could probably finish the whole project in a month or sooner. If you are starting a new service, then you can readily agree the terms with which people invest, and become backers.
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When it comes to running a business I think what really matters is how much you care. The people that succeed in the long run aren’t the ones who just come up with ideas they are the ones who have the grit and determination to keep on going through the dips and all the troubles.In the past you could throw brute money at the problem and file patents and that worked for a while but now information travels so fast and the cost of starting a business is decreasing entrepreneurs can be more responsive to the changing nature of realty. I think having a forum like this is vital for that.
There’s an interestling book called [url=http://sethgodin.typepad.com/the_dip/]The Dip[/url] by Seth Godin. It simply states that the businesses that thrive do so because of something called the dip, which is a period of time usually just after the initial launch of a business and all the hype has died down. The dip is the period of time when most people give up but the ones with passion and purpose are able to persevere and it acts as a filter.
I think what crypto does is present us an opportunity to:
[list]
[*]Help people financially without the barriers of the legacy banking industry
[*]Provide support by drawing on a diverse range of experiences on a public forum
[*]Be responsive with this support and get to the needs of entrepreneurs in a way that traditional mentorship programs can’t
[/list]I can see both [b]Kevlar[/b] & [b]T4rQu1N[/b] complementing one another really well as judges.
[quote author=T4rQu1N link=topic=3687.msg29325#msg29325 date=1380288905]
Having looked back I feel I may have misinterpreted what this kickstarter thing is supposed to be. Are we purely talking product development for cryptocoins? Or are we including services within this category? If services, then I would very much suggest a venture capitalist style approach, simply because it lends itself to these business models. If products, then a Kickstarter copy with cryptocoin payment options would work very well I suppose.
What do you think Kevlar? Or am I missing a trick again? :-\
[/quote]You haven’t necessarily misinterpreted it because we are still in the process of defining it. That’s what this dialogue is all about.
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[quote name=“Kevlar” post=“29352” timestamp=“1380301205”]
No, I definitely would not. I completely agree that experience, background, and detailed development plans should absolutely be part of the pitch. Not just what, but who, how, and when is very important. This things absolutely form a critical part of the proposal, all I’m saying is that has nothing to do with revenue models or potential market segments.
[/quote]Thanks for all the time you have put in to responding to this thread.
It sounds like to you what’s most important is the integrity of the person behind the idea. And I think what this gets to is how we overcome the anonymity that the internet, and particularly the cyrpto community, affords.
How can we persuade people to step out from behind the curtain in such a way that would reassure a business mentor and investor? Given that time is an investment as well as money.
##quick digression##
This is what I am trying to do with the videos by the way. Try to get to the people behind this technology. Because at the end of the day it’s not about the technology, that should be invisible*, it’s not money we want it’s what it buys us. It’s the freedom it gives us. The financial sector has become this huge profit centre when in reality it should only be a marginally profitable activity. It exists to free up the rest of us to get our goals and needs met.If only we could find the people in the world willing to take up that task.
*Just because it’s invisible doesn’t mean everyone shouldn’t at least have a basic understanding of it.
##I agree with you that we should not try to turn this in to an equity purchase, but we might be able to partner up with some other companies like [url=http://www.seedrs.com/]Seedrs[/url] (who are friends of mine) who might be able to take care of this.
Do your best, link to the rest.
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Hi Chris thank you for all the support you are providing us… Yes Chris I will be able to help you find Investors and get the word out about Feathercoin infront of Millions of people who are tired of the Corrupt Fiat Money System.
I will be in contact with you on Monday.
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Apologies for the late response, I’ve been without my computer all weekend.
[quote name=“Kevlar” post=“29352” timestamp=“1380301205”]
I’m not clear on this one. If someone ELSE with those skills could finish the whole project in a month or sooner, why would I give YOU the money? I’d rather give it to the guy with the skills to pull it off, who’s probably asking less as a result. Supporters don’t care if it has a great revenue stream for it’s owner, because they’re not it’s owner, they’re just users of the product/service. I don’t buy an iPhone because it makes Apple a lot of money, I buy it because it suits my needs and style.
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I agree with the rest of what you were saying, so this is why I’m only responding to this particular quote.
In essence, my idea could easily be stolen, so I would be trying to form a team of enthusiastic people who would want to share in that revenue stream. I suppose there is nothing stopping that person from stealing the idea once I’ve disclosed it though, hence why I haven’t posted it here a long time ago :(. If supporters shared a part of that revenue stream, then it becomes more like an investment, and my particular role becomes the project manager/owner. I could then use the funds to pay someone with web development skills as you suggest, but I’d rather the investors form the core team, and split the workload that way, thus removing my image as the middle man!
Going down a rabbit hole there, but I hope you get my point. Personally I would find a percent of the profits more attractive than a few months early access…but you’re right, this opens it up to a world of potential pain.
Good debate!
Here’s a project then that should benefit those of use with ideas and a vision, and no real technical skills…lets make a matchmaking service which builds the ideal team. Discuss!
[quote author=chrisj link=topic=3687.msg29617#msg29617 date=1380449247]
I can see both [b]Kevlar[/b] & [b]T4rQu1N[/b] complementing one another really well as judges.
[/quote]Just seen this! Let the games begin! ;D
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[quote name=“T4rQu1N” post=“29879” timestamp=“1380573935”]
Just seen this! Let the games begin! ;D
[/quote]This is all very good but I need to resurface this thread to get more views on it because so far it’s just you, Kevlar and me that have really put the work in and it needs to be more representative.
Won’t get time until tomorrow afternoon after the News Letter.
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Corather brought up [url=https://cryptostocks.com/]cryptostocks.com[/url] but I don’t think it’s been addressed.
Any thoughts?
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[quote name=“mnstrcck” post=“29955” timestamp=“1380615212”]
Corather brought up [url=https://cryptostocks.com/]cryptostocks.com[/url] but I don’t think it’s been addressed.Any thoughts?
[/quote]Ok that looks interesting. So it’s been setup by the guys at Vicurex. I like it, I think we could work with them on this but the only thing that put me off was the number of spelling mistakes on the [url=https://cryptostocks.com/welcome/help]Help page[/url] and the lack of usability and design. The whole point of crowd funding is marketing. If the platform cannot give you a visible presence to people who would otherwise have been unaware of you then there’s no point but what I do like about this is the Securities management.
Perhaps we could approach them about accepting FTC and just take care of the marketing from our end while they do the security?
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I think it’s worth discussing Chris - I think there’s great ideas in the site, but ultimately, is it exactly what we’re looking for? Can we improve on it?
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[quote name=“Kevlar” post=“29556” timestamp=“1380413821”]
The reason that crowdfunding has been so successful so far is precisely because it does an end-run around these problems, connecting buyer with seller directly and skipping the startup, eliminating equity, ignoring the business, and giving the finger to traditional thinking about how to make a product successful. Instead of saying, “We need to start a business to get this product to market”, crowdfunding allows people to go, “I’m going to get this product to market without the overhead of running a business”, and THAT is the game changer.
[/quote]Very good point and well thought out piece, sounds like you have a lot of experience… Just reading through this thread another time, keep finding more.
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I have summarised the views of the people on this board as they related to the running of the Kickstarter. There were many other views expressed and I hope we get to revisit those too. But for now I just want to Kickstart the Kickstarter, go here and see:
[url=http://forum.feathercoin.com/index.php/topic,3883]http://forum.feathercoin.com/index.php/topic,3883[/url]