How to Fund Your Indie Game with Bitcoins and BitConnect

Funding a game

There are plenty of ways in which one could fund an Indie Game. Most of them require third party investors (Indie Fund), backers (KickStarter or IndieGoGo) or patrons (Patreon). You could even try the good old donation route (GoFundMe). Obviously you need a good idea, a well structured project and a business plan. You need to convince others that you’re going to deliver a great game!

Those are all fine ways to fund your next indie game and they all share a low risk profile (at least for you, the developer). Low risk is desirable for most indie game developers, most of the time.

But then there might be another way. A very risky but potentially profitable one. One where you don’t actually need to ask others for their money (given you have at least a small initial amount of money):Bitcoins and bitconnect!

Why would you want to do it?

You don’t! In fact the very high risk profile of this kind of investment kinda makes it look like betting. You basically bet that the price of Bitcoins will keep rising.

Bitcoins and the underlying technology (the Blockchain) are spreading faster and faster. Banks, financial institutions and big names such as IBM (even the European Union itself) are looking into ways to invest in these technologies.

I don’t care about the blockchain. I don’t believe in the future of Bitcoin as a legit currency becoming legal tender. I just wanted to jump in for some quick profit. And so I did, this summer, investing a small amount of money in Bitcoins. And I got lucky.

I am still making profit but I got all my initial investment back, safe into my bank account. So in case this bubble blows up (and it will), I haven’t lost anything but time (and actually gained some money in the meantime anyway).

Where do you get bitcoins?

You can buy Bitcoins with real money (bank transfer or credit/debit card).

It all starts with Coinbase or I usually buy Bitcoins from LiteBit via SEPA bank transfer. It takes up to a week for them to deposit the BTCs. Given the daily volatility and fluctuations of the BTC, whenever I need them immediately, I use Coinbase, which accepts credit and debit cards, effectively getting me bitcoins instantly.

Both of these websites require thorough verification of your identity, phone number, bank account and ID documents. If you don’t feel comfortable giving away your details, don’t use these services.

Earning 30% to 40% monthly with Bitconnect

BitConnect is another shady beast. It’s a coin (the BCC) and an investment platform (or an elaborate scheme) working with its own coin.

Basically you deposit your BTCs from LiteBit or Coinbase(or wherever you keep them). Then buy BitConnect Coins (BCC) (they have an internal exchange for that) and then supposedly“lend them”to a trading bot which pays you back a daily profit of around 1%. That’s around 365% yearly.

As I said the profit is daily. It means that they pay out every single day. And you can withdraw that profit.

Actually there’s more. In fact you can re-invest that daily profit back into your initial lending to get back a compound interest (or lose all your money if the bubble bursts).

All this lending and profit is calculated in US Dollars (even if you’ll be using your bitconnect coin balance). So if you invest, say, 1010$ for a minimum period of 239 days, you’ll get paid around 1.1% daily… which means around 11$ each day (or 333$ monthly). Not bad.

It’s working pretty fine for me and I have nothing to lose if it all goes titsup.

Personally I believe this platform will last until Bitcoin will last. The reason behind this is that it seems the bitconnect coin mimics the performance of the bitcoin. So as long as people believe in bitcoin, the bitconnect platform should keep on paying lenders their interests.

What to expect from bitcoins and bitconnect?

No one knows. This bubble will burst. We just don’t know when. I’m trying to make some profit while I can and I reckon this is not the preferable way to fund a game dev activity, but it’s the only one I could think of where I don’t need to ask money to anyone. I own my money, I don’t need to show my game to anyone and I manage my own schedule, features, work hours and whatnot. I take all the risks, with all the gains and all the losses. It’s like a game… about funding a game… it’s a bet.

Until it lasts, I’ll have a sort of passive income.

Ok, you made profit... now what?

Same process in reverse:

  1. you should sell your bitconnect coins (BCC) for bitcoins (BTC) at current market price (at the bitconnect exchange).
  2. withdraw your BTCs and deposit them on either LiteBit or CoinBase.
  3. Sell the BTCs for Euros and cash in on your profits.

What are your thoughts on this?