Star Citizen’s monthly report is out; also, some guy spent $30K on the game

    
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Cloud Imperium has released its monthly development snapshot for Star Citizen. It’s a high-level look at what each of the firm’s studios has been doing to prep the release of Alpha 2.0, which is the “first serious look at how the puzzle pieces fit together.”

As opposed to previous module releases that have showcased individual portions of the game (the hangar, single-seat dogfighting, socializing in ArcCorp), 2.0 starts to tie it all together and adds things like multicrew ships and first-person ground combat.

In other Star Citizen news, this dude has spent $30,000 backing the game. He also has great musical taste, so there’s that.

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Vikingr
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Vikingr

kgptzac 
Bullshit! Calling backers who believe in the project as part of a religious cult is just flame trolling, which is againt the forum rules. You know better than to insult others in this forum.

Vikingr
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Vikingr

RooWoods 
Well, that’s the general attitude that tends to kill creativity. People with original ideas / thoughts and opinions should be encouraged and not called fools. That is, if you want the world to go forward. Even if you’re right that most of these people are fools, and can say that afterwards – in your defense – even if someone turns out to not being a fool, it hurts creativity because people hesitate to put their neck out in public.

IMO sheep, who don’t have original thoughts or opinions, should realize they’re only sheep and hence not stop others who they don’t understand.  Because with understanding comes also creativity, so these things are tightly connected.

This was generally speaking, of course, not directed specifically at you or your opinion above.

Geoff Dassad
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Geoff Dassad

Darkwalker75 Geoff Dassad Psionicinversion DemonicPossession lol, I don’t think it’s quite as nefarious as that, but it’s changing the nature of crowdfunding from, essentially pre-order with varying levels of fluff to buying company equity. So it’s doing a variation of stockbroking and the regulations that come with it.  The change in convenience will be if an account is required, (And I can’t see any reason for it not to be a requirement) because that will be somewhat similar to opening a new bank account. But you should only need to do it once.

Darkwalker75
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Darkwalker75

Geoff Dassad Psionicinversion DemonicPossession 
If I didn’t know better I would think that someone is trying to make it more trouble than its worth to do crowd funding.
I’m not a conspiracy theorist here, but frankly could sound like some big suits are trying to hinder crowd funding for their own personal gain.
Specifically I’m thinking how the big companies like EA, Ubisoft, etc(Amd I’m sure there are others in other ventures) would have something to gain by trying to make it inconvenient at best to do crowd funding.
Don’t get me wrong here, I’m not saying it should be unregulated or even just lightly regulated, I’m all for strict regulations to prevent scamming and exploiting people, but this here frankly seems to be over the top and will only make it difficult and inconvenient to do at best.

Geoff Dassad
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Geoff Dassad

Psionicinversion Geoff Dassad DemonicPossession ” The kickstarters for games are generally used right now to prove there is demand for the game so they can secure investor funding. That could limit the funding available”  –  Sorry, missed this bit in my first answer. It’s hard to say for sure, it’s written in heavy legalnese. There is a section that raises the maximum amount of securities that can be sold in a 12-month period to $5m.  So it would appear one could get some additional funding from conventional investors, but it’s also capped.

Geoff Dassad
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Geoff Dassad

Psionicinversion Geoff Dassad DemonicPossession It could kill game and tech crowdfunding in the states, going by kickstarter stats, those are the two categories that exceed $1m the most (100 out of 137).  Which isn’t even a remote threat to crowdfunding as that’s 137 successful campaigns out of 95,667.
Just a reminder, this is US legislation, so it won’t have any immediate impact on how crowdfunding is conducted in the rest of the world. (It’s important because of the regulations on backers, will explain in my last paragraph if anyone is interested)

A lot of the sections in the JOBS act relating to crowdfunding are making allowances in other acts, which I haven’t read through. So it’s possible I don’t have an accurate understanding of the full implications. But it does look like NO crowdfunding initiated inside the USA will be able to raise in excess of $1m / year. 

The other implications are, because it’s now crowdfunding offerings, (Or share issues) as a backer, you own part of the company, so I’m anticipating the “backers rewards” either disappearing or becoming much less substantial. 

Backer regulations : This is the really fun bit, which may make crowdfunding in the USA more trouble than it’s worth, (unless other countries start imposing similar regulations)  Because it regulates the people who can invest. 
   A) If you earn or have a net-worth less than $100k – You can invest a total, across all 
             crowdfunding projects, of whichever option is higher, Either :
         1)   $2,000 
         2)  5% of the lesser of their annual income or net-worth. 
     B) If both income and net-worth are $100K or more than 10% of the less
And on top of that you have to use a “funding portal” which has to be a member of the National Securities Association registered under section 15A of the exchange act (of which there is currently a grand total of 1 company that complies) And there would appear to be exceedingly little direct benefit of being a funding portal.     Combine those bits of information and it looks increasingly likely, that you’ll need to hold an account, as it were, with a funding portal, which will watch over your funding habits and ensure you don’t exceed your allowed funding limits. (They can’t do much else because they are not allowed to touch any of the money or securities)  Which makes funding projects less convenient.

Psionicinversion
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Psionicinversion

Geoff Dassad DemonicPossession Psionicinversion wont that kill off kickstarter though? because that will mean they can only accept a hard limit of $1million and once reached any further backing will have to be refused. The kickstarters for games are generally used right now to prove there is demand for the game so they can secure investor funding. That could limit the funding available

Geoff Dassad
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Geoff Dassad

DemonicPossession Psionicinversion The SEC sees crowdfunding as an opening for exploitation. Which makes it no different to any other type of company or business.

As it stands there is very little difference between most crowdfunded ventures and pre-orders. They both take payment now, on the basis that they will deliver a product or service in the future. 

What the JOBS act does, is basically lays down a new set of regulations for the forming of small public companies. In that it allows a startup business or existing small business to raise up to $1,000,000 in a 12 month period, though crowdfunding offerings. Or to put it another way, a small company is allowed to publicly sell shares valued up to $1m per year. There is a lot of other regulations but that’s is the limit on the value of crowdfunding allowed.  

Now I didn’t find any allowance for crowdfunding ventures trying to raise in excess of $1m dollars. So either the JOBS act won’t apply to them, or it will make them illegal in the USA, when the act comes into affect at the end of June 2016.

Yeees
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Yeees

I’m not judging this guy on how he spends him money but I couldn’t ever imagine spending that much on anything.

Psionicinversion
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Psionicinversion

They are getting something in return the game and stuff listed on release. With what your saying crowd funding would be impossible under what you say. An investor gets a % rate return, crowd funding gives you whatever out says you’ll get and that’s it so no your not an investor. Also when you gift something to someone you do not expect a return on it because that is what gifting means. Giving freely