The one of the newest bitcoin exchange services – the Coinsetter – collected half a million dollars from future development from their supporters. The money was raised by crowdsourcing.

What actually is crowdsourcing? No mix up with crowdfounding – the concept to collect money to from a community willing to obtain a product or service when the necessary sum is collected and the product or service is developed. Practically, this approach is very popular among musicians and other creative people. To find investments for a record, making a movie, theatre piece or a book authors offer to investors some rewards – specials things that cannot be otherwise obtained. Crowdsourcing is a little bit different matter. Wikipedia says it

“is the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people, and especially from an online community, rather than from traditional employees or suppliers”.

It means that also money can be obtained, but more important is the point that that is done via the Global Web, keeping in minds the basic parameter of existence of crypto currency and related services.

The CEO of the Coinsetter Jaron Lukasiewicz was proud to announce that this huge sum was collected, but know he asks everyone who would like to have accounts on the service whether they are willing and interested in investing. The previous half of a million dollars was obtained for investors, who are also enthusiasts of the bitcoin community. For example – Roger Ver.

Lukasiewicz is sure that the necessary fund will be collected till the deadline. People who signed up for the beta version account are more than several thousands. But many ask if this money is really necessary, maybe first of all the service should be launched in its final version? The CEO thinks different. More money is necessary to employ new developers and to establish a very well prepared user support center. Still it is necessary to mention that the concept of the service has several times changes. One the ideas Coinsetter got rid of was a FOREX similar trading system.

The final one concept to be performed includes the idea of a transaction base. All previous ideas had to be abandoned because of the different regulations in different states of the US. No fiat money means any need for the money service business license or the MSB.

Jaron also things that if he had started his project later, when bitcoins have gained more popularity, he would be able to obtain the necessary amount of investments in a more comfortable and fast way. Now the development course depend on all parties of the game – the board, the investors and the users of the beta version, who also soon will become investors of the much promising project.

After Lukasiewicz’s information people from the Wall Street might also invest in the service, which will bring bitcoin closer to many users not only in the USA. The final amount from investors will be known on the 29th of November.