Companies backed by Goldman Sucks are no big loss for Bitcoin!
It's good those f**kers leave our ecosystem.
Liers and thieves are not what we need to prosper!
Topic: [2015-11-22]BI:Circle, Bitreserve and BitPay are turning their backs on bitcoin - page 2. (Read 1079 times)
November 22, 2015, 02:24:32 PM
November 22, 2015, 01:26:21 PM
I think Fred Ehrsam nailed it on the head with this comment, see below, suggesting that this is mainly due to investors putting pressure on these firms to look at alternatives in order to generate returns.
Quote
Ehrsam puts at least part of the blame for company's being forced to pivot on overzealous investors, who piled into bitcoin too soon. He says: "If you invest in bitcoin thinking 'oh my god bitcoin is happening in the next 2 years and we should hire up and staff up really quick for that' you're probably going to feel some pain. It's more of a linear growth over the next 5 years."
November 22, 2015, 01:18:52 PM
After reading the article I wouldn't say that these companies are turning their backs on bitcoin, it is more of a not putting all your eggs in one basket scenario, they all are still using bitcoin but are developing other ways to use the blockchain.
It is a good point raised that the adoption has been slow and not as immediate as was expected but bitcoin awareness is on the up, Coinbase suggest there are 5000 + new accounts opened with them each day whether these numbers are correct or not I do not know.
It is a good point raised that the adoption has been slow and not as immediate as was expected but bitcoin awareness is on the up, Coinbase suggest there are 5000 + new accounts opened with them each day whether these numbers are correct or not I do not know.
I'm pretty sure there's a back-story for every of those companies' decision to expand beyond Bitcoin. BitPay for example had very strange business model which couldn't possibly give them enough revenue to cover their massive spendings (football sponsorship, celebrity hire etc). They had to change it one way or another.
November 22, 2015, 01:09:37 PM
After reading the article I wouldn't say that these companies are turning their backs on bitcoin, it is more of a not putting all your eggs in one basket scenario, they all are still using bitcoin but are developing other ways to use the blockchain.
It is a good point raised that the adoption has been slow and not as immediate as was expected but bitcoin awareness is on the up, Coinbase suggest there are 5000 + new accounts opened with them each day whether these numbers are correct or not I do not know.
It is a good point raised that the adoption has been slow and not as immediate as was expected but bitcoin awareness is on the up, Coinbase suggest there are 5000 + new accounts opened with them each day whether these numbers are correct or not I do not know.
November 22, 2015, 12:36:57 PM
Circle, Bitreserve, and BitPay are turning their backs on bitcoin
http://uk.businessinsider.com/circle-bitreserve-bitpay-struggle-lack-of-bitcoin-adoption-2015-11
Quote
Some of the most high-profile and well-funded startups looking at bitcoin are now pivoting their businesses and distancing themselves from the digital currency, less than two years after the hype around bitcoin blew up.
Circle, BitPay, and Bitreserve — who between them have raised over $130 million — have all shifted away from bitcoin in one way or another in recent months.
That's after people failed to adopt it in the way entrepreneurs and venture capitalists had hoped.
Circle — which makes a mobile bitcoin wallet and is backed by Goldman Sachs — recently began accepting US dollars and when I met the founders in London recently they told me that bitcoin was just the first use-case of their technology.
The future, according to CEO Jeremy Allaire, lies in using the technology that underpins technology, called the blockchain, to make sending any form of money as easy as sending an email. He didn't want to talk about bitcoin.
Allaire says it's always been Circle's aim to go beyond bitcoin but that hasn't always been obvious to outsiders.
...
Circle, BitPay, and Bitreserve — who between them have raised over $130 million — have all shifted away from bitcoin in one way or another in recent months.
That's after people failed to adopt it in the way entrepreneurs and venture capitalists had hoped.
Circle — which makes a mobile bitcoin wallet and is backed by Goldman Sachs — recently began accepting US dollars and when I met the founders in London recently they told me that bitcoin was just the first use-case of their technology.
The future, according to CEO Jeremy Allaire, lies in using the technology that underpins technology, called the blockchain, to make sending any form of money as easy as sending an email. He didn't want to talk about bitcoin.
Allaire says it's always been Circle's aim to go beyond bitcoin but that hasn't always been obvious to outsiders.
...
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