'Rise and Rise of Bitcoin' film tries crowdfunding
Published on April 29, 2013 at 18:09 BST
A group of US filmmakers is using bitcoin to crowdfund its documentary on the rise of the virtual currency.
"The Rise and Rise of Bitcoin," about a computer programmer obsessed with the virtual currency, explores the competitive mining market and the startups involved in the bitcoin community.
The movie is being produced by 44th Floor Productions, DARONIMAX Media and Fair Acres Media. The director is Nicolas Mross, who previously directed horror movie Riddle.
Putting their money where their mouth is, the filmmakers hope to help fund the production with bitcoins. A donation page on their website welcomes bitcoin payments, in addition to PayPal and credit card options.
"We clearly love bitcoins, but we're happy to accept fiat as well," the page notes.
The filmmakers are seeking donations via the movie's website in part because the crowdfunding community hasn't yet embraced bitcoin payments. Kickstarter, the largest crowdfunding platform, doesn’t accept the currency ... although bitcoin supporters have tried. Kickstarter has accepted some bitcoin-related projects, however.
On the other hand, Bitcoinstarter -- a crowdfunding project specifically designed to take payments in bitcoins -- is up and running. However, it appears to have some way to go before it reaches Kickstarter-like levels of funding success.