Would be interesting to know what amount of money they still have in order to pay it back to their investors. I guess it would be hard to explain if much is gone.
But i like the news so far because it seems to be the first exchange or eve bitcoin venture that went wrong and actually can refund the investors, hopefully for the biggest part.
Topic: Bitcoin Marketplace Buttercoin Folds Despite $1.3 Million Investment - page 2. (Read 1252 times)
April 06, 2015, 07:52:43 AM
April 06, 2015, 07:38:00 AM
That will only further erode people's confidence that they have in bitcoin. With that size of funding, I don't know how it can ended up becoming a failed business model but obviously there must be something happening within that we did not see.
April 06, 2015, 07:25:49 AM
How the fuck can you not run a company beyond four months with $1.3 million.
Seriously, what is it with these people.
Seriously, what is it with these people.
April 06, 2015, 07:17:19 AM
How the fuck can you not run a company beyond four months with $1.3 million.
Seriously, what is it with these people.
Seriously, what is it with these people.
That is because 99% of the bitcoin-based ventures are run either by conmen, or people who are extremely incompetent. Anyway... even more negativity for BTC.
April 06, 2015, 07:15:53 AM
How the fuck can you not run a company beyond four months with $1.3 million.
Seriously, what is it with these people.
Seriously, what is it with these people.
April 06, 2015, 06:49:21 AM
Another one bites the dust.
http://www.coindesk.com/bitcoin-marketplace-buttercoin-folds-despite-1-3-million-investment/
Quote
US bitcoin marketplace Buttercoin is shutting its doors, despite launching just four months ago with at least $1.3m in investor backing.
In a farewell post to customers today, the Buttercoin team announced the service will go offline this Friday (April 10th) at 11pm PST.
Stressing that it was "100% secure and solvent", the Palo Alto-based platform blamed a lack of VC interest for its closure, stating:
"With the dip in bitcoin interest among Silicon Valley investors, we weren't able to generate enough venture capital interest to continue funding Buttercoin."
Buttercoin's nine-person team had raised at least $1.3m from investors including Reddit co-founder Alexis Ohanian, Y Combinator, Centralway Ventures, Google Ventures and Wedbush Securities – though its exact funding total is unclear.
In a farewell post to customers today, the Buttercoin team announced the service will go offline this Friday (April 10th) at 11pm PST.
Stressing that it was "100% secure and solvent", the Palo Alto-based platform blamed a lack of VC interest for its closure, stating:
"With the dip in bitcoin interest among Silicon Valley investors, we weren't able to generate enough venture capital interest to continue funding Buttercoin."
Buttercoin's nine-person team had raised at least $1.3m from investors including Reddit co-founder Alexis Ohanian, Y Combinator, Centralway Ventures, Google Ventures and Wedbush Securities – though its exact funding total is unclear.
http://www.coindesk.com/bitcoin-marketplace-buttercoin-folds-despite-1-3-million-investment/
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