Lighthouse Raises Charity Crowdfunding Target in 24 Hours

Yessi Bello Perez
Feb 11, 2015 at 11:44 UTC
Updated Feb 11, 2015 at 15:05 UTC
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Lighthouse, the bitcoin-powered crowdfunding application, raised 3.5 BTC for Medic Mobile during its first 24 hours.

The Medic Mobile project, Lighthouse’s demo campaign, has now been reset to allow for an additional fundraising round to begin.

The news comes via a blog post, in which Mike Hearn, the app’s developer, offers some updates and long-term plans.

Not all targets reached

Despite this success, however, not all projects reached their set fundraising targets.

Richard Myers, a developer at Bitsquare, revealed that its crowdfunding campaign had ended without reaching the funding goal.

In his blog post, Myers says:

“We are disappointed, but also proud and encouraged by the amount of support we did receive.”

The campaign raised around 54 BTC – 45% of its 120 BTC goal with donations from 55 supporters over the course of 20 days.

Hearn described Bitsquare as “an ambitious attempt to build a fully peer-to-peer, decentralised bitcoin exchange that operates in a similar way to localbitcoins.com”.

Myers remained positive, saying that the team would “continue to move forward with renewed focus on development without the distraction of money”.

What’s next?

Alex Waters, a prominent member of the bitcoin community, is trying to raise $5,000 to launch BitcoinTesting.org.

Although it is not officially a Lighthouse project yet, the aim of the website will be to “make it easier for people to help test and exercise new features during the development process”.

Users are currently being asked to pledge a dollar-specified amount via the the Vinumeris Crypto Projects Gallery.

Once sufficient interest has been expressed via the former, the crowdfund will be launched on Lighthouse.

According to Hearn:

“Doing things this way helps reduce the exposure to BTC:USD volatility for long term crowdfunds.”

Hearn also said that “in the two weeks since launch there have been dozens of projects created, and that’s just the ones we know about”.

The beta version of the app was made publicly available last month.

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