Kickstarter stops fundraising for the project “Bitcoin: The Movie” without any explanation

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Just two weeks ago, 99bitcoins told you about the project “Bitcoin: The Movie”, which was looking to gather funds at Kickstarter. Everything seemed fine, with 154 backers donating almost $16,000 to the movie team, until the project page was unexpectedly pulled by Kickstarter a few days ago.

“Bitcoin: The Movie” was going to be a documentary about the impact – both social and economical – of cryptocurrency around the world. But to do that, the team needed at least $100,000 and that is why they were looking for help at Kickstarter, through a fundraising that was supposed to last until August 15. “Supposed” is the key word here, since the platform suspended the project six days ago.

If Kickstarter is maintaining its inflexible rules, it won’t be possible to reverse their decision. And the movie team won’t even get the money already raised, since the website has a policy based on the idea of “all or nothing”. In other words, the project mentors will get zero dollars from the platform.

We were not told what the issues were. That’s why we paused all Bitcoin-related activities, trying to figure out what’s going on at this moment”, said the entrepreneur Andrew Wong. If we stop to think, the problem is not about Bitcoin or movies, since just last week the documentary “Life on Bitcoin” kicked-off after gathering the necessary funds on Kickstarter. So, what could be the explanation for this decision, taking into account these rules announced on the platform?

Projects can be suspended if it:

Violates or acts inconsistently with the letter or spirit of the Kickstarter Guidelines orTerms of Use.

Materially changes the stated use of funds

Makes unverifiable claims

Exhibits actions that are more closely associated with fraudulent or high-risk activity

Maybe after this, Andrew Wong and the rest of his team move on to a platform like BitcoinStarter, the Bitcoin crowdfunding website, looking for the support of the community.

Via coindesk.com

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Maria Santos

Maria is an experienced journalist currently living in the UK. She has been writing about Bitcoin and the altcoin universe since 2013. She is also a member of the Lifeboat Foundation's New Money Systems Board and a big cryptocurrency supporter.

3 Comments

  1. They are scared of helping real technologies come out. It isn’t the first project they have stopped that could make a difference to the world.

    Currently Kick Starter looks like it wants to only focus on little changes that don’t really do an impact to society. They neither consider the benefits to people but rather have stuff that will be written about and sometimes useless.

    I know there are some great projects on Kick Starter, but it will always be those that looks good for press than benefit to society.