Bitcoin Transactions On FollowFunding

This article will help you better understand how Bitcoin is allocated and transacted on the FollowFunding viral crowdfunding platform.

Bitcoin Transactions All Start With A Dreamscape Connection!

When making a donation to a campaign, known as a Dreamscape on the FollowFunding community, you’re making a Connection to that Dreamscape and the Dreamscapes it’s also connected with.

If you have not yet done so, please watch the 8 min. video explaining how this unique pay-it-forward platform is designed to work by clicking the image below.

CLICK HERE to access the 8 Min. Video.

Dreamscape connections along with the amount of Bitcoin being donated, and the amount already having been donated by each of the connected dreamscapes, determines how Bitcoin is split in accordance with the platform’s allocation rules.

The RULES Of Donation Allocation

Each Dreamscape here at FollowFunding is only able to receive up to 50% of what they donated to the community up to 50% of what’s being transacted per donation. The only exception to this is spill-over donations, which will be discussed later in this post.

Let’s Look At A Couple Donation Examples

When making a donation on FollowFunding Bitcoin is shown in relation to the current price in USD.

Let’ say you started a donation in the amount of 0.006 BTC as illustrated in the picture above. Once you’ve clicked the “Donate Now” button and have selected the amount you wish to donate, you are then prompted to enter your information and are taken to a page like the one below called the “Dream Stream.”

Example of a Dream Stream showing 0.006 Bitcoin being split two ways.

The Dream Stream allows the donor to view exactly which Dreamscapes are being funded and how much is going to each cause. It’s important to note that Bitcoin can be split among as few as two connected Dreamscapes as illustrated here, or as many as four if a large enough donation is being made to connected Dreamscapes who have made smaller donations to the community.

Let me give you an illustration of that now. Let’s say when visiting a Dreamscape that you decided to donate $2,000 in Bitcoin which at the time of writing this article is approx: 0.044 BTC as shown below.

For this illustration, let’s assume the Dreamscape you are on donated the BTC equivalent of $2,000 as well. In addition, let’s assume for this example that the other three upstream connections to that Dreamscape all made $200 BTC equivalent donations.

So, based on the allocation rules, the Dreamscape you are on, would receive $1,000 in BTC or the MAX allocation based on the amount they already donated to the community.

The other three connected dreamscapes would each receive the equivalent of $100 in BTC or their MAX allocations leaving the equivalent of $700 in BTC still yet to be assigned via a spill-over allocation. Let’s look at how that works now.

FollowFunding Bitcoin Spill-Over Donation Allocation

As described in the above example, after the first round of donation allocation, $700 in BTC remains. Because all BTC is assigned to no more than a MAX of 4 connected Dreamscapes, the remaining BTC ($700 in this example) is divided equally among the 4 connected Dreamscapes.

Spill-over allocations are the only way a donation allocation can be more than the 50% of what a Dreamscape owner has donated to the community.

This means the final allocation for this example donation would appear on the Dream Stream as follows:

The first Dreamscape with the $1000 qualification would receive the BTC equivalent of $1,175 in BTC minus network fees. The three other connected Dreamscapes in this example would receive the equivalent of $275 minus network fees.

Please keep in mind, FollowFunding does not charge any platform fees, so the only fees charged for the transactions are related to the network fees associated with BTC miner confirmation and any related wallet fees.

In addition, it’s important for you to understand how Dreamscape Connections greatly enhance the amount of donations you’re able to receive by greatly expanding the number of people you’re able to reach.

By posting a Dreamscape you will also be allowing FollowFunding to showcase your dreamscape via our company Dream Stream which is rotated helping to drive passive automatic donations to our community.

For more details about how connections enhance your funding ability, please CLICK HERE.

Maxing Out Your Bitcoin Donations On FollowFunding

Through the above examples, you should now understand how the amount you donate to the community will directly affect the amount you are also able to receive per donation.

You can however make additional donations to the Dreamscape you are connected to which will in turn increase the amount you’re qualified to receive. For example, after completing your $2,000 BTC equivalent donation, you could make another $500 equivalent donation and ramp up your Dreamscape’s qualification to to the equivalent of $1,250 per donation.

It is important to note that the MAX amount that can be donated to one Dreamscape is a full Bitcoin. So a MAXED out Dreamscape is able to receive up to one half Bitcoin per donation.

Please keep in mind, that through the Cause Crusader program you may have elected to donate effort instead of BTC, for more details on how that program works, please CLICK HERE.

We are very excited that you’re reading this post and expressing interest in FollowFunding. The more you understand the power of this community funding the dreams, causes and inventions of others, the more excited you’ll become.

To join forces with our community so together we fund the dreams and causes of each other, please CLICK HERE to access the Dreamscape that helped you discover FollowFunding.

Please comment and share if you found this helpful. You can also subscribe to our BLOG using the form below, so we can keep you in the loop on future updates and posts from FollowFunding.

Eric Bechtold FollowFunding Founder

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