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The video features F. Komaya, Product Development Director at Bitwize SARL and Lead Designer for Crypteks Inc. Bitwize is a web design company in Lebanon.[1] Sorry, but I'm not going to be sending money to someone in Lebanon no matter how good the CAD renders look. [1] http://www.linkedin.com/pub/bitwize-sarl/62/b19/256
I have always admired the man's ability to sniff out a good con, although the second film is having quite a bit of trouble getting a similar level of traction. I'm sure he'll be fine-- it's hard enough to get the government involved in regular fraud, let alone... whatever dubious legal standing funding a Kickstarter has.
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This seems rather unlikely (hyperbole, to be frank) - those using Kickstarter are surely aware of the nature of the platform, not thinking of it as a checkout. Unless the refund process is unduly complex, there doesn't seem to be an obvious reason why the vast majority of backers wouldn't ask for a refund.
I think a lot more Kickstarter backers (especially on big projects like this one that attract a lot of first-time backers) think of Kickstarter as a checkout than as a way to contribute to cool projects and get something in return if the project succeeds.
It's unfortunate that all the updates are Backer-Only, including a recent one titled "Refund Reminder". Could someone on HN who backed this project summarize what the company has said in its Backer-Only communication?
I really wish kickstarter didn't hold project updates to backers only. I'd love to see some of the updates before I donate to a project.
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Looks like someone needs to start kickescrow.com
Which will then pivot into kickbitcoin.com
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>> "Then what's the incentive to participate at all?" Someone believes they can create a product you want. They can only create it if you give them some money to get going. The incentive is a product you want getting built. Do you want this thing enough that you're willing to risk $10 backing it? I think for a lot of people that's enough incentive.
Not even a VC backs a project purely because they believe in it - they look for the potential return.
The expectations some people have about crowdfunding are unrealistic. It has to be clear from the start that when you donate money to those projects the money will be spent and the project might fail anyway. People have been using Kickstarter as a pre-order site which I think is not ideal in many cases. The option to preorder should be different from supporting a project in general, but Kickstarter sadly doesn't offe…
Pledge $10 or more Pledge $50 or more
Replace it with..
Donate $10 or more Donate $50 or more
That would make things less ambiguous.
The project has reached a $196K funding while the initial goal was "only" $12K. Maybe Kickstarter should limit the amount of money to this initial goal, or at least to twice the amount of this goal. If a project looks promising, more people are likely to pledge for it. But if Cryptrade thought $12K was enough to develop their project, that's probably all they actually needed. And $12K is both less tempting for Cryptr…
When the goal has been hit, users are more likely to back the project than when the goal was not hit. I think Formlabs founders also explained this in their post-Kickstarter interviews- they intentionally set initial goal below what they actually needed, in hopes that it's surpassed quickly.
The expectations some people have about crowdfunding are unrealistic. It has to be clear from the start that when you donate money to those projects the money will be spent and the project might fail anyway. People have been using Kickstarter as a pre-order site which I think is not ideal in many cases. The option to preorder should be different from supporting a project in general, but Kickstarter sadly doesn't offe…
I agree. My suggestion is to make a simple keyword replacement on the pledge/rewards sidebar: Pledge $10 or more Pledge $50 or more Replace it with.. Donate $10 or more Donate $50 or more That would make things less ambiguous.
I do however pledge to give money on KickStarter. I can cancel at any time. Heck, I can pledge and not pay when the time comes.
In fact, I'd go so far as to say that changing from Pledge to Donate would have the opposite effect: cause more confusion, cause more problems, and not solve anything you are trying to solve.