Wednesday, 07 December 2022

A Analysis

This crowdfunding project ended up on the UltraCoin site because it was rejected by Kickstarter, with the stated reason being that it was outside of their scope - reference the email below.

kickstarter rejection email

This "rejection" opens three new possibilities which I have capitalized upon:

  1. To bring the entire crowdfunding operation in house in order to save dramatically on fees. Kickstarter will apply a 5% fee to the funds raised, and Amazon will apply credit card processing fees (between 3-5%). If funding isn't successful, there are no fees. Through the UltraCoin site, you will pay 5% to the admin and 1% flat rate to the payment processor (if you choose to pay in Bitcoin).That is a 2% - 5% savings - or $20,000 to $50,000 (or up to a junior programmer) savings for every million dollars raised!!!;
  2. To demonstrate how disruptive UltraCoin can be as a disintermediator to all things financial. I suggest readers view my video "UltraCoin Subjects PayPal to Margin Compression" for an example;
  3. To open up the UltraCoin site as a alt.coin and related digital currency-freindly crowdfunding platform to all of those who may wish to raise money in this fashion without the restrictions placed upon you by sites such as

So, UltraCoin, the great disintermediator, even disintermediates its funding sources. Eliminate the middleman and save. Anyone interested in viewing my UltraCoin crowdfunded project, click here. Anyone interested in crowdfunding their own (serious) cryptocurrency related project can do so here.

thumb Fortune Front CoverA few days ago I was waxing poetic over the abilty of David Z. Morris' ability to grasp rather complex, intangible concepts and loquaciously lay them forth in the written word via the pages of Fortune magazine. After all, what creative destruction advocate wouldn't get all mushy after reading "Reggie Middleton, currently building a client called BTC Swap. Middleton, gravelly voiced, dapper, and businesslike, doesn't fit the stereotype of woolly young bitcoin developers. But he slyly describes himself as "not quite an anarchist," and BTC Swap is a shot directly across the bow of the financial industry"...

Or "Middleton sounds a bit like an 18th-century pirate striking back against the Empire when he declares that "what I'm doing right now is a direct threat to fiat merchant banking." For him, excitement over value fluctuations in the bitcoin currency is missing the point: "It's not a threat as people sit there and ponder whether bitcoin is a bubble or not. But if people go through the protocol and use their imagination, the existing system is threatened."

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