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@ Angor
2025-04-22 08:35:52Hello reader,
I can say from personal experience that crowdfunding has truly changed my life. I found people who believed in my dream of using Bitcoin as money. Every single one of my videos was made possible through crowdfunding. And I’m not alone. I know several Bitcoiners who have raised funds this way, from Africa to Korea to Haiti.
https://images.forbesindia.com/media/images/2022/Jul/img_190501_runwithbitcoin_bg.jpg
Crowdfunding is deeply rooted in the traditional financial world. From raising money for life-saving surgeries to helping someone open a local coffee shop, platforms like GoFundMe, Kickstarter, and Indiegogo have become essential tools for many. But behind all the heartwarming stories and viral campaigns, there’s a side of crowdfunding that doesn’t get talked about enough. Traditional platforms are far from perfect.
They are centralized, which means there’s always someone in control. These platforms can freeze campaigns, delay payouts, or take a significant cut of the money. And often, the people who need funding the most, those without access to strong banking systems or large social media followings are the ones who get left out.
Here are some of the problems I’ve noticed with these platforms:
Problem 1: Inequality in Who Gets Funded
A recent article in The Guardian pointed out something that’s hard to ignore. Crowdfunding often benefits people who already have influence. After the Los Angeles wildfires in January 2025, celebrities like Mandy Moore were able to raise funds quickly. At the same time, everyday people who lost their homes struggled to get noticed.
https://i.guim.co.uk/img/media/f8398505e58ec3c04685aab06e94048e5d7b6a0c/0_127_4800_2880/master/4800.jpg?width=1300&dpr=1&s=none&crop=none
Angor (https://angor.io/) changes that by removing the need for a central platform to choose which projects get featured or promoted. Anyone can share their project. People can find them on Angor Hub (https://hub.angor.io/), which is a public directory built on the Nostr protocol. Instead of relying on popularity, projects are highlighted based on transparency and engagement.
Problem 2: Platform Dependence and Middlemen
Here’s something people don’t often realize. When you raise funds online, the platform usually has control. It holds the money, decides when to release it, and can freeze everything without warning. This happened during the trucker protests in Canada in 2022. Tens of millions of dollars were raised, but platforms like GoFundMe and GiveSendGo froze the donations. The funds never reached the people they were meant for. Supporters were left confused, and the recipients had no way to access what had been raised for them.
https://upload.wikimedia.org/wikipedia/commons/thumb/2/2d/Convoi_de_la_libert%C3%A9_%C3%A0_Ottawa_01.jpg/800px-Convoi_de_la_libert%C3%A9_%C3%A0_Ottawa_01.jpg
Angor avoids all of this. It does not hold the funds, does not require approval processes, and only the project creator has control over the campaign. Contributions go directly from supporters to the people building the project, using Bitcoin. It is a peer-to-peer system that works without any gatekeepers. Angor never touches the money. It simply provides the tools people need to raise funds and build, while staying fully in control.
Problem 3: Global Access
Another major issue is that these platforms often exclude people based on where they live. If you're in a region with limited banking access or outside the supported list of countries, you’re likely shut out. In 2023, a woman named Samar in Gaza tried to raise funds for food and medical supplies during a crisis. A friend abroad set up a campaign to help, but the platform froze it due to "location-related concerns." The funds were locked, and the support never arrived in time.
https://images.gofundme.com/EMFtPWSLs3P9SewkzwZ4FtaBQSA=/720x405/https://d2g8igdw686xgo.cloudfront.net/78478731_1709065237698709_r.jpeg
Angor removes these barriers by using Bitcoin, which works globally without needing banks or approvals. Anyone, anywhere, can raise and receive support directly.
Problem 4: Lack of Transparency
Post-funding transparency is often lacking. Backers rarely get consistent updates, making it difficult to track a project's progress or hold anyone accountable.
In 2015, the Zano drone project on Kickstarter raised over £2.3 million from more than 12,000 backers. It promised a compact, smart drone for aerial photography. But as time went on, updates became rare and vague. Backers had little insight into the project’s struggles, and eventually, it was canceled. The company shut down, and most backers never received their product or a refund.
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Angor takes a different approach. Project updates are shared through Nostr, a decentralized and tamper-proof communication protocol. This allows backers to follow progress in real time, with no corporate filters and no blackout periods. Everyone stays in the loop, from start to finish.
Problem 5: Fraud and Accountability
Scams are a growing problem in the crowdfunding world. People can launch fake campaigns, collect donations, and vanish — leaving supporters with empty promises and no way to recover their money. One well-known example was the "Homeless Vet GoFundMe scam" in the U.S.
https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2018/09/720/405/1536549443584.jpg
A couple and a homeless man raised over $400,000 by telling a heartwarming story that later turned out to be completely fake. The money was spent on luxury items, and it took a legal investigation to uncover the truth. By the time it was resolved, most of the funds were gone.
This kind of fraud is hard to stop on traditional platforms, because once the funds are transferred, there’s no built-in structure to verify how they’re used.
On Angor, projects are funded in stages, with each step tied to a specific milestone. Bitcoin is held in a shared wallet that only unlocks funds when both the backer and the creator agree that the milestone is complete. If something feels off, backers can choose to stop and recover unspent funds.
This structure discourages scammers from even trying. It adds friction for bad actors, while still giving honest creators the freedom to build trust, deliver value, and raise support transparently. It can’t get any better than this
So, does Angor matter?
For me, it really does. I’m genuinely excited to have my project listed on Angorhub. In a world shaped by AI, open source and transparency light the way forward. Let the work shine on its own.
Have you tried Angor yet? Thanks for tuning in. Catch you next week. Ciao!
Guest blog: Paco nostr:npub1v67clmf4jrezn8hsz28434nc0y5fu65e5esws04djnl2kasxl5tskjmjjk
References:
• The Guardian, 2025: Crowdfunding after LA fires and inequality - https://www.theguardian.com/us-news/2025/jan/17/la-fires-gofundme-mandy-moore • https://www.theguardian.com/us-news/2018/nov/15/johnny-bobbitt-gofundme-scam-arrest-viral-gas-story-couple-charged • FundsforNGOs: The Success Story of an NGO That Scaled with Limited Resourceshttps://www2.fundsforngos.org/articles/the-success-story-of-an-ngo-that-scaled-with-limited-resources/ • https://www.freightwaves.com/news/gofundme-freezes-37m-until-organizers-of-canada-trucker-convoy-detail-spending-plan