On Sunday, developers of the Flipstarter.cash project announced the start of private testing for the platform’s BCH assurance contracts and the team also revealed the first two funding projects. One of the first funding goals will be raising bitcoin cash for the nonprofit food charity Eatbch in Venezuela and South Sudan. Additionally, Flipstarter hopes to raise $500,000 toward BCH infrastructure development and suggested a list of six full node teams that could leverage the application.
Flipstarter’s First Two Campaigns: Eatbch and Six BCH Full Node Teams
On February 18, news.Bitcoin.com reported on a voluntary financing application for Bitcoin Cash called Flipstarter. The platform aims to be a noncustodial funding application similar to Mike Hearn’s Lighthouse project. When Flipstarter developers revealed the creation they detailed that the system would leverage BCH assurance contracts via an Anyone-can-pay Sighash. The project announcement was welcomed by the community and some people believe Flipstarter could be the answer to the ongoing Infrastructure Funding Plan (IFP) debate.
— flipstartercash (@flipstartercash) February 24, 2020
Following the original announcement, Flipstarter published another read.cash blog post giving the public more details about the project’s initial goals. The first two goals will attempt to fund BCH infrastructure and the BCH community’s most popular charity Eatbch. Fund one’s campaign for Eatbch will start as a public beta as the developers have announced:
We have a lot of respect for the EatBCH volunteers in Venezuela and South Sudan. We would like to help them by funding one month of activities in both countries with the first Flipstarter campaign.
The other funding plan is to fuel the BCH ecosystem with an overall $500,000 target. “Target for funding is $500k in total by May 2 — It will be both meaningful and hard given the rough state of the user experience,” the Flipstarter devs explained. “Flipstarter will either be helping teams to run their own campaigns or supporting an existing social media platform to run a platform for campaigns. That will be the topic of another article. For now, we will be conservative and commit to supporting a narrow list of six full node teams to run campaigns. This is obviously an invitation with no requirement. The teams are free to participate or not and to set up whatever amount that they want,” the Flipstarter team added. Currently, the list of full node projects mentioned includes:
- Bitcoin ABC
- Bitcoin Cash Node
- Bitcoin Unlimited
- Bitcoin Verde
Flipstarter’s Read.cash Post Receives $2k in BCH Tips
Flipstarter’s creators say that the campaigns for the current list and ones going forward will need a decent proposal. The read.cash post got some positive comments from the community and one of the developers of the BCH Node, Freetrader, commented on the Flipstarter funding concept. “I’m sure the Bitcoin Cash Node project would like to use this — Let’s see how far we get,” Freetrader remarked.
Flipstarter’s programmers include a slew of BCH volunteers such as Imaginary Username, Emergent Reasons, Sploit, Leandro DiMarco, Jonathan Silverblood, and Dagur. Flipstarter developers are inviting people to join the project’s official Telegram channel if they are interested in learning about this new project. The team has also come up with a list of funding ideas like a full-time maintainer who needs funds, money for operational expenses like websites and servers, and financing ongoing maintenance.
The announcement about BCH infrastructure funding and financing for Eatbch also got $2,000 worth of BCH tips. The Flipstarter app will be a plugin for Electron Cash and the team’s developers have written a descriptive walkthrough on how it will work. “Target for completion is March 7,” the Flipstarter software developers revealed.
What do you think about the Flipstarter project for Bitcoin Cash? Do you think that a concept like this could bolster voluntary financing for the Bitcoin Cash commons? Let us know your opinion in the comments section below.
Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Image credits: Shutterstock, Flipstarter.cash, read.cash, Fair Use, Eatbch.org, and Pixabay.
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