Why did the Bitcoin Startup Buttercoin Fail?

Why did the Bitcoin Startup Buttercoin Fail?

The recent developments with Buttercoin, a Bitcoin trading platform last week caught everyone by surprise. The company backed by heavyweights like Google Ventures, Y Combinator, Rothenberg Ventures etc. was forced to shut down its operations due to what they claim to be lack of funding. Bennett Hoffman and Cedric Dahl founded the Palo Alto, California based company in 2013. The company attracted a lot of attention and funding to rise through the ranks of Bitcoin based startups. Buttercoin later went on to become the first Bitcoin business to raise investment form a prominent Wall Street....


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Centralway Ventures invests $250k in bitcoin startup Buttercoin

Company builder Centralway is investing $250,000 in bitcoin startup Buttercoin via its new early-stage investment arm Centralway Ventures. The company, which is set to be headquartered in Somerset House in London, will invest $50m each year in around 20 or 30 startup firms at the seed or early stage plus in bigger Series A funding rounds, TechCrunch reports. It said its preference will be to invest in companies early on and then continue investing in the same businesses as they grow. Buttercoin, which was founded earlier this year, is the first company Centralway Ventures is investing in.....

Buttercoin CEO Reveals 'Tactical Mistake' that Led to Company Closure

One week after his startup's abrupt closure, Buttercoin CEO Cedric Dahl says the wider community should be careful to learn from his experience at the helm of the US bitcoin marketplace. Despite accruing an impressive list of investors, including Google Ventures, Centralway Ventures and Y Combinator, Dahl suggested that it was Buttercoin's affiliation with larger investment firms that ultimately left it less able to adapt in a changing bitcoin ecosystem. He told CoinDesk: "The big lesson is that you cannot rely on venture. You have to make a product that is self sustaining." Founded in....

Buttercoin to Close its Doors next Friday

Buttercoin has announced it will be closing on April the 10th. 2015 is getting to be a hard year for bitcoin exchanges; many digital currency exchanges have been facing serious difficulties and a lot of them have been forced to close their doors. The latest exchange to go down is the US based exchange, Buttercoin. We can find the following announcement on their website: "So long friends. Buttercoin will be turning off April 10th at 11PM PDT. Be sure to move your bitcoins to another service and remove your dollar balances. We wish you all the best!" Buttercoin launched in 2013 and received....

Buttercoin Bitcoin Trading Platform Launches Early Access

A new start-up based in Palo Alto, California is hoping to make a splash in bitcoin trading. They're Buttercoin, and this venture capitalist-backed service has just launched early access to their platform. The soft launch of Buttercoin comes just hours following Mt. Gox's filing for bankruptcy protection, signaling that better things are on the horizon for traders. Buttercoin has reportedly received on the order of $1 million from investors, among which include Kevin Rose of Google Ventures (also, co-founder of Digg) - who teased the early access program today on Twitter. As of this....

Bitcoin As A Medium Of Exchange: Domestic Remittances Use Case

Bitcoin could be the most efficient means of moving fiat around the world. International Remittances. Before we delve into the promise of Domestic remittances, we must understand the hype behind International remittances. International remittances have been growing every year, and many consider it to be a "killer app" for Bitcoin. One noticeable example of a startup rising up to face this challenge is Buttercoin. About Buttercoin, Bloomberg's Businessweek had this to say: The company is working with licensed money transmitters in several countries to establish software systems in which....

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Technical answer in bitcoin is that bitcoin is a remarkable cryptography achievements.

Dr. Eric Schmidt