Will crypto replace fiat money?
Certainly not if certain governments get their way. The U.S. Securities and Exchange Commission (SEC) is leading efforts in regulating the crypto industry to curb money laundering and protect its citizens from investing in crypto exchanges like FTX. Sam Bankman-Fried, the creator of the FTX exchange, was recently quoted saying, “F**k regulators.” At the same time, the digital asset industry watched horrified as FTX, a multi-billion-dollar crypto exchange, imploded. Sam Bankman-Fried has since been arrested in Bermuda, showing regulators now have teeth.
FTX’s failure shook the entire ecosystem’s foundation. All token values fell as investors hurried to sell their riskier investments. Contagion then set in. Depositors rushed to withdraw their money from various cryptocurrency platforms during the panic, forcing lenders to halt withdrawals.
How will crypto regulations effect your business?
While the FTX debacle and similar incidents give credence to the notion of needed regulation, much is said to the contrary. According to economist Pete Earle of the American Institute for Economic Research, a think tank based in Great Barrington, Massachusetts, “there are attempts to make this about cryptocurrencies and inadequate regulation, but this debacle has nothing to do with crypto in and of itself.” Instead, it has more to do with deception and the impact of virtue signaling.
As the founder of a crypto and fiat crowdfunding platform, Crowdfunding Bum, I couldn’t agree more with this sentiment.
Unfortunately, the U.S. Securities and Exchange Commission’s bravado stance on crypto regulations has impacted businesses like our platform to such a degree that we no longer provide a crypto payment gateway to residents of the U.S., among other embargoed countries, territories, or jurisdictions.
A bit more on our platform before the big ask.
At Crowdfunding Bum, we aim to prove that, unlike equity-based crowdfunding platforms, you don’t need to parcel out your equity or be a social media expert to get funded.
There’s no equity cannibalism here; instead, there’s a built-in backer mechanism to fund startups. We defiantly state that we want to see you grow, not carve you up.
It may interest you that when a project creator is logged into their user dashboard on our platform, a green indicator bulb will show the availability of the campaigner to answer questions via WhatsApp, reassuring potential donors.
We currently accept 2,315 plus cryptocurrencies to get you a bigger pool of potential donors and move your money rapidly across borders.
Likewise, you can use Stripe’s credit card gateway to get funds instantly into your bank account. And as if that wasn’t enough, we know how busy entrepreneurs are, and we want to help you set up and write the perfect campaign pitch at no cost to you.
Furthermore, we offer free social media advertising via our partnership outreach.
You may wonder why the sale pitch is in the middle of such a serious topic.
We’re relaunching our newly redesigned and optimized platform in 2023 to prove that our pay-it-forward crypto and fiat crowdfunding platform is a viable and cost-effective alternative to equity crowdfunding platforms.
Hence, we seek donations to cover our initial advertising and managerial costs. The recent deluge of cookie-cutter equity crowdfunding platforms promising entrepreneurs and business owners funding if they only cannibalize their future equity to attract potential investors is, in our opinion, an unnecessary and costly mistake. Don’t fall for the scarcity mentality that says you have to give up something to get something in return.
At Crowdfunding Bum, we have a better way and are about to prove it by accepting donations from the crowd to fund our startup. Please donate to our proof of concept campaign on our platform.
Thank you for your time and generosity, Bernardo Pereira, Crowdfunding Bum Founder
We hope you enjoyed our take on the future of crypto money and stick around a while to learn more about all that Crowdfunding Bum has to offer. You will find ample reasons to choose us as your funding source. Fresh out of excuses? Click the link below.
or see our frequently asked questions page
Bernardo Pereira instinctively knew that funding a Crowdfunding campaign shouldn’t be so difficult. This Crowdfunding Bum founder and sole owner is a visionary thinker who wanted to place the power of generosity in the hands of all those who choose to embrace it. Strategically, he developed the world’s first built-in backer mechanism within the platform to auto-fund campaigns. This website is a manifestation of his vision.