It seemed so easy, listening to "testimonials" and reading articles, but I'm having a devil of a time finding any legitimate sources to approach to fund my project. I know they exist, that there are people out there funding films (I.e. the insane amount of B-movies on Netflix is testament enough), but all I've found are scams. What's a producer to do? Any advice out there? Help me, Indietalk, you're my only hope!
The Woes of Finding Investors.
- Thread starter JSmalls
- Start date
Am I stupid or is this page totally confusing http://piratemyfilm.com/static/how_it_works
You do what with what? Huh????
You do what with what? Huh????
Being enamored with a source of funding is fine. We ALL welcome new
sources and ideas. But this is condescending
No one is behind the curve. This is quite new. And so far quite unproven.It blows my mind that all of you experienced people, arent talking about piratemyfilm.com
youre behind the curve guys!! get with the future.. today!
I get it that you are an activist - most of us here are not. Relax a bit. Show
us how this is working don't put us down for not already being as totally
enamored as you are.
I THINK (but I'm not positive) that it's working off of a different form of "money.". So not dollars, pounds, euros, but this thing called bitcoin. And if the users in the network agree to accept this form of payment, then you can buy x for y amount of bitcoin. That's why it's non-bank.
That's they way I saw it, too.
I cannot pay my actors with bitcoin. My insurance company will not
accept bitcoin. I can see this as slightly interesting for online exchanges,
but if I have 200,000 in bitcoin in my "bank" I still cannot hire an
audio mixer or a scripty.
So pac3mak3r,
When you say on your funding page you need $250, using the universally
understood symbol for US Dollars ($) what will you actually be getting?
What will I actually be giving if I buy a $5 share?
yeh.
point taken.
its that im stoned and over exited at the same time
is what it is
apologies,
Bitcoin is different from other currencies because its not centrally issued and the transactions arent cetrally verified. the transactions are issued and verified by the different members of the network. the currency itself its cryptographically mined. That makes it scarce which gives it another advantage over fiat currency, in terms of value.
Piratemyfilm has historically used dollars. Its only recently that it has started to work with bitcoin.
heres a film that got made with pmf
http://www.youtube.com/watch?v=wu47Thq2skE
well thats not the film itself but i have seen the film lars went on to make, and very good it ws too
point taken.
its that im stoned and over exited at the same time
is what it is
apologies,
Bitcoin is different from other currencies because its not centrally issued and the transactions arent cetrally verified. the transactions are issued and verified by the different members of the network. the currency itself its cryptographically mined. That makes it scarce which gives it another advantage over fiat currency, in terms of value.
Piratemyfilm has historically used dollars. Its only recently that it has started to work with bitcoin.
heres a film that got made with pmf
http://www.youtube.com/watch?v=wu47Thq2skE
well thats not the film itself but i have seen the film lars went on to make, and very good it ws too
if you buy a share the site should explain that i only accept btc. currently 5 bucks is worth about 1 btc.
check out intersango.com
when the project gets green lighted youll need to use a merchant like bitpay to forward the funding
heres the site we made for death twitch
http://www.wix.com/blakecurran1/plague2deathtwitch#!home|mainPage
http://www.piratemyfilm.com/projects/304
thats a link to another btc only project on pmf, which is a documentary called screw banks use bitcoins
http://blog.cryptographyengineering.com/2012/05/future-of-electronic-currency.html
currencies been virtual since the seventies remember
and surely youve heard of silk road which is dark web content only accesible through the tor browser? the online black market where one can buy anything. But only if they pay in btc
check out intersango.com
when the project gets green lighted youll need to use a merchant like bitpay to forward the funding
heres the site we made for death twitch
http://www.wix.com/blakecurran1/plague2deathtwitch#!home|mainPage
http://www.piratemyfilm.com/projects/304
thats a link to another btc only project on pmf, which is a documentary called screw banks use bitcoins
http://blog.cryptographyengineering.com/2012/05/future-of-electronic-currency.html
currencies been virtual since the seventies remember
and surely youve heard of silk road which is dark web content only accesible through the tor browser? the online black market where one can buy anything. But only if they pay in btc
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Here's a good article on what Bitcoin is: http://arstechnica.com/tech-policy/2011/06/bitcoin-inside-the-encrypted-peer-to-peer-currency/
It's an interesting concept, but yeah; it's only really as valuable as other people think it is. Chicken before egg, that sort of thing. What's kind of interesting is that other, shall we say "indiscreet," industries are just now dipping their toes into the Bitcoin pool to take advantage of its anonymous nature.
Also:
LOL, at least you're honest.
It's an interesting concept, but yeah; it's only really as valuable as other people think it is. Chicken before egg, that sort of thing. What's kind of interesting is that other, shall we say "indiscreet," industries are just now dipping their toes into the Bitcoin pool to take advantage of its anonymous nature.
Also:
LOL, at least you're honest.
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How did this go for you, JSmalls?
I hadn't joined the site when you posted. On my last feature we raised our entire budget through private equity and less than 10% was from friends. We asked a lot of wealthy people for smaller investment amounts that would benefit their tax position.
For example, if you ask someone with 10M in the bank for 1M, they are not going to give you that unless the director or producer is experienced or if there is a name in it. But, you can ask them for 10-50K which is a much smaller risk to them. There are tax exemptions for investments and they can rollover for the entire lifecycle of the movie. So, over a 3-year period they can get a reduction on their tax liability for the 10M. It meant thatw e had a lot of investors and we needed a corporate accountant early on.
It is possible that you have similar tax reduction schemes in your state, you should talk to an accountant about the possibilities.
