Topic: Cirlce CEO blame openly bitcoin devs in WSJ (Read 1386 times)
They have been causing a lot of unneeded problems for a long time now. Failed power grabs over and over and over and over
They remind me about someone who did not get enough attention and power, and then rage quit and blame shifting to hide their mistakes and
failures. They are fiat slaves like all the other companies in the same scene... they thought Bitcoin would give them the edge over the rest,
and when it did not, they dropped it like a turd in a toilet. We will see how long they will survive now.
failures. They are fiat slaves like all the other companies in the same scene... they thought Bitcoin would give them the edge over the rest,
and when it did not, they dropped it like a turd in a toilet. We will see how long they will survive now.
Quote
“The story is one of essentially gridlock amongst core developers, while mainstream companies are using this technology,We’ve been deeply frustrated with that lack of progress, and we want to move it forward.”
Can't say I blame him. If any company were to be run like Bitcoin is run with 'consensus' as a guiding light, it'd be an absolute recipe for failure. Just like Bitcoin's failure. Two years post Hearn and no progress whatever. Only thing we've done in two years is fight like hell.
there are so many different businesses running while using bitcoin and they are more successful than you or circle CEO can ever imagine, there are even similar services as circle's rival that are more successful that them. the fact that they couldn't run a businesses is on their own head not on bitcoin.
Truly a bad decision from Circle. Even if they decide to shut down bitcoin buying/selling because of low income from bitcoin, this is still a big mistake. The price of bitcoin will inevitably rise in the future because of the number of people who will adopt this technology will increase. If they want to come back by then, they will not be seen as trustworthy and no one will give a shit about them anymore.
I call this the mistake of their life.
I call this the mistake of their life.
They will be more bothered about the number of transactions/ transfers made using Bitcoin, and the number of people using it. The price of Bitcoin has a very small role to play in determining the profits of companies like Circle. It might very well turn out to be the mistake of their life and ranting about it in public (like their CEO) has done would look foolish when things improve.
Quote
“The story is one of essentially gridlock amongst core developers, while mainstream companies are using this technology,We’ve been deeply frustrated with that lack of progress, and we want to move it forward.”
Can't say I blame him. If any company were to be run like Bitcoin is run with 'consensus' as a guiding light, it'd be an absolute recipe for failure. Just like Bitcoin's failure. Two years post Hearn and no progress whatever. Only thing we've done in two years is fight like hell.
he sounds like a crybaby who has failed in his business model, at least the part of business that was related to bitcoin and now he is blaming everyone who is remotely related to bitcoin for his failure.
and it surely is funny to see Circle like this, at this particular time when Coinbase is under magnifying glass by the IRS.
and it surely is funny to see Circle like this, at this particular time when Coinbase is under magnifying glass by the IRS.
its partly because of the coinbase IRS issue.
the legal costs of protecting bitcoiners identity, when circles bitcoin 'income' is insignificant means its not financially viable to have bitcoin users.
so they are migrating circle bitcoin customers over to coinbase so that circle customers are managed by coinbase, due to coinbase being happy to manage them.
anyway circle is now working with hyperledger, along with blockstream, along with blockchain.info. and others. who are all happy to stall bitcoin. so just like hearn who a couple years ago announced bitcoin was stalled by his colleagues.. circle is saying the same thing.
its a message from the hyperledger(bankers) that bitcoin is being pushed aside, for their playform.
all that needs to be done now is blockstream fess-up and admit their involvement in hyperledger for people to realise all the stall tactics put against bitcoin
he sounds like a crybaby who has failed in his business model, at least the part of business that was related to bitcoin and now he is blaming everyone who is remotely related to bitcoin for his failure.
and it surely is funny to see Circle like this, at this particular time when Coinbase is under magnifying glass by the IRS.
and it surely is funny to see Circle like this, at this particular time when Coinbase is under magnifying glass by the IRS.
Truly a bad decision from Circle. Even if they decide to shut down bitcoin buying/selling because of low income from bitcoin, this is still a big mistake. The price of bitcoin will inevitably rise in the future because of the number of people who will adopt this technology will increase. If they want to come back by then, they will not be seen as trustworthy and no one will give a shit about them anymore.
I call this the mistake of their life.
I call this the mistake of their life.
Unless you are directly or indirectly contributing to the development, then you need not be talking (especially not a company of this much funding). The only people that they can blame is themselves and their faulty business model.
Is the thread title wrong on purpose? Cirlce?
Is the thread title wrong on purpose? Cirlce?
May i ask you, why the fuck did you leave a negative feedback on my profile when i am the original owner of this account?
Well, the decision has been made. Why should we panic? Theres so many sites where you can buy and sell bitcoin. I think also this is their worst decision ever made. For now, i will stay at coinbase and localbitcoin. They like it to be centralized thats why they removed bitcoin and small profit.i guess. Thats all business man do. Making money. Goodluck to circle.
if i had to guess, i would say the reason why they did this recent change is because of Coinbase and the the IRS. maybe they are afraid they may end up the same as Coinbase!
It seems CEO of circle is just making excuse to hide their failed business model.
Today Circle announce that will stop to sell bitcoins from their site and it seems that they choose to separate themselves from Blockchain technology and Bitcoin. Is good for them that they find that can work better like Paypal or Alibaba with a central controlled database server.
Paypal or alibaba/alipay aren't better payment processor than bitcoin because maintaining central database server, having support team 24x7, to comply with legal issues in every country they will operate etc will add up so much running cost and to cover it all of those payment processor try to include heavy fee on each transaction as well as lots of other hidden fees. People don't like to pay heavy % to this services just to send their hard earned money from one person to another. 
The main problem with Circle towards bitcoin is that they are earning a little and thats not a good business. Bitcoins transaction is very slow and very inconvenient. Even doing small transactions are very long to finish. They maybe found out that bitcoin is no longer profitable so they leave it behind and move on with paypal and paymaya. If I am a big businessman I will also the same thing.
Shit! That's how I was buying most of my bitcoin. Coinbase has already nuked me--where is there another service like theirs?
Also, can't read the damn article because it's subscription only. When are they dropping btc?
Also, can't read the damn article because it's subscription only. When are they dropping btc?
Just use Kraken or if you are in Europe use Bitstamp or better yet use Paymium.
Circle is dropping Bitcoin for the same reason very many others have already dropped it. Bitcoin no longer supports microtransactions and other end user (retail) functionality. Core/Blockstream have converted Bitcoin to a settlement and speculation system. If you are not interested in 'Buy and Hold' or settlement functions, Bitcoin is no longer useful for those applications. Way too long of confirmations, way too high of fee. Blockchain congestion is suffocating so many projects. SegWit doesn't really help. SegWit only helps Blockstream get their Lightning bullshit going. SegWit will not appreciably fix Blockchain congestion. Only a 4MB limit will fix that.
When are they dropping btc?
they already have. i think you can sell to them what's left in your wallet and that's it. no more buying.
I would have been willing to pay a larger buy/sell spread on BTC buy/sell, they never even tried. Not everything adds up here.
me too. i guess they priced up future compliance bills and realised it just wasn't gonna add up no matter what the fees. i assume they were making losses on it already.
Shit! That's how I was buying most of my bitcoin. Coinbase has already nuked me--where is there another service like theirs?
Also, can't read the damn article because it's subscription only. When are they dropping btc?
Edit: OK, guess it's immediately. Well fuck them, I'm uninstalling their app. I have absolutely no use for Circle now.
Also, can't read the damn article because it's subscription only. When are they dropping btc?
Edit: OK, guess it's immediately. Well fuck them, I'm uninstalling their app. I have absolutely no use for Circle now.
Unless you are directly or indirectly contributing to the development, then you need not be talking (especially not a company of this much funding). The only people that they can blame is themselves and their faulty business model.
Is the thread title wrong on purpose? Cirlce?
Is the thread title wrong on purpose? Cirlce?
Apparently Circle things that it's a good idea to abandon its origins and opt for a more direct push towards fiat institutions?
I guess if they think it is a good idea, then maybe they're making the right choice, but it doesn't seem like they're really going to be able to get anywhere, especially considering their business plan (or what I know about it). If it works for them, however, I guess it works.
I guess if they think it is a good idea, then maybe they're making the right choice, but it doesn't seem like they're really going to be able to get anywhere, especially considering their business plan (or what I know about it). If it works for them, however, I guess it works.
When bitcoin hits the moon next year expect them to come running back with their pants around their ankles saying sorry, the shite bags, when an open source project as promising as bitcoin is going bad you dont throw your dummy out and walk off, you get in there and try to direct it.
I don't know if people should be panicking or not or worrying about circle's decision here. I think that many people expected this to happen, it is not a full surprise. Although, I do not know full detail of their decision to stop transfer bitcoin to fiat in their operation, there are other sites available to do that, if you still wish. So it is not that big of a deal in the end.
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