âBitcoin: The Movieâ, a film about bitcoin, has had its crowdfunding page pulled just two weeks after it launched.
The movie, which was to be a documentary on the socio-economic impact of the currency around the world, was raising its money using Kickstarter, the popular four-year-old crowdfunding site, based not far away from the movie teamâs own New York office.
Andrew Wong, the entrepreneur behind the movie, launched the crowdfunding campaign on Kickstarter on July 16, and had scheduled the project to run until August 15, with a crowdfunding goal of $100,000. However, late last week, the crowdfunding site unexpectedly suspended the project. When Kickstarter pulled the plug, the movie had $15,896 pledged by 154 backers. Kickstarter works on an âall or nothingâ basis, meaning that money isnât awarded unless the goal is met.
Wong, who also assists with NY Business Expo, was baffled by the suspension. âWe were not told what the issues were. Thatâs why we paused all bitcoin-related activities, trying to figure out whatâs going on at this moment,â he told CoinDesk.
Kickstarter doesnât appear to have an issue with bitcoin, or with movies. On July 12, four days before Wong posted his own project, âLife on Bitcoin â a Documentary Filmâ, a movie by two newlyweds charting a three-month period spent living on bitcoin alone, was funded. It received $72,995 â 104% of its goal â from 247 backers.
Kickstarter has also crowdfunded other bitcoin-related projects, such as a hardware-based paper wallet printer. It also permitted a mobile bitcoin app for iOS, in spite of Appleâs banning bitcoin apps from its store (although this crowdfunding project did not reach its goal).
Kickstarter has also let far more controversial projects through the net, including a book touted as a âseduction guideâ, which many interpreted as a manual for rapists. The crowdfunding site issued a public apology after allowing the funding to continue until its goals were reached.
âWhile the story sounds thoughtful, we are going to decline to participate in an interview,â mailed a Kickstarter spokesperson when quizzed by CoinDesk.
Kickstarterâs FAQ says that projects can be suspended if it:
A suspension is never reversed, the firm says.
Surprisingly, given the nature of his movie, Wong did not have a separate bitcoin-based fundraising campaign in operation, although such crowdfunding operations are available. âWeâre thinking of setting that up. We havenât started with the coin-based funding yet,â he said.