19 Apr '15, 4am

New post: Why did the Bitcoin Startup Buttercoin Fail?

New post: Why did the Bitcoin Startup Buttercoin Fail?

According to one of the founders Cedric , the company’s affiliation to big investment firms brought in too much structure into the company’s operations that it could not be flexible enough to adapt to the constantly changing Bitcoin ecosystem. In an interview with one of the publications, he confesses that raising venture capital to the tunes of $1.3 Million during the initial stages was a big tactical mistake on the startup’s part. He outlines the obvious problem with venture funds, where if the company can’t get something right the first time, then there won’t be any more funding whereas angel funds and seed funds are much more favorable for a startup dealing for a market filled with uncertainties.

Full article: http://www.newsbtc.com/2015/04/19/why-did-the-bitcoin-sta...

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