Bitcoin Forum

The press is quick to jump on Bitcoin failures. Our own Coindesk has two articles today:
Bitcoin Exchanges Weigh Impact As Vogogo Moves to Shutter Payments Service (http://www.coindesk.com/bitcoin-exchanges-vogogo-payments/); Bitcoin Remittance Startup Freemit to Close Amid Funding Shortfall (http://www.coindesk.com/freemit-bitcoin-startup-closes/).
Let's compile a list of successful Bitcoin companies, verifiably stacking cheddar.
Caveat: DNMs, gambling, and exchanges don't count.
1) ?

ASIC manufacturers.
they have a product. and sell it for bitcoin.

by this i mean antminer. not the fake cloud miners

just like the old wild west.
gold miners only broke even and eventually their bones and muscles. the only profit was in the guys selling the dynamite or selling the workers food and drink

is that alpaca sock place still going? that's gotta be one of the very first bitcoin businesses and pretty important in its own little way.

and i think we're gonna see alot more bitcoin startups dying. it's par for the course in any new industry.

So that means the big Chinese miners are hardly making any profit at all? I thought the west was stupid for staying away from it, but now I see why.

1. ASIC manufacturers.

Hard to call it, most went belly-up.
ButterflyLabs, HashFast, Bitmine, KNC, Spondoolies, etc., etc. - all verifiably bankrupt. ASICMiner did well for a while, ran away with everyone's money in the end.
The ones still in business are not public companies, so hard to know if they're tossing salad or burning VC $$$.

2. alpaca socks
Maybe. We do have Bees Brothers :)


3. Chinese Hashfarms
This one is harder to call.
Again, companies with finances so complex and opaque, even their competitors (KNC) don't know how (or if) they make money.

just heard these ASIIC manufacturers also opening a cloud mining service by providing an electricity for their users but still buying a hardware with a little big higher price,i just wonder if it were real or not but it's good idea rather than involving on fake cloud mining

the chinese miners ARE making profit..
its the western miners that are breaking their backs to just break even..

the chinese miners are smarter.
in short. they make an asic for lets say $200 and sell it to the west for $1000...
they then use the $800 profit to make 4 more asics for themselves absolutely free

converting it to old wild west analogy
pilgrims are buying one stick of dynamite for the equivalent of a months income from the chinese
but the chinese who are smart about gunpowder, get to have 4 sticks of dynamite to keep for themselves. so they instantly become 4x more successful at mining without actually having to pay for it themselves

Source?
Having $0.03 electricity and cheap labor is not a sign of intelligence.
Let's stick to the topic tho: Successful BTC companies.

Yeah,ASIC are fine actually.
There are some successful bitcoin companies like hashocean lol they got bilions of $ for scam.
I joke of course but it's the same with butterfly lab lol who did even buy these

gambling and exchanges doesnt count?  :-[
damn, this is gonna to be hard.

i am also thinking about to start a business here in my area. and to do dealing in bicoin and in local currency also. actually our people have very little knowledge about bitocin therefore only bitcoin dealing in the start will not be profitable. but i am confused that what kind of business will be more profitable in bitcoin.

So I guess porn sites accepting Bitcoin do not count? There are a lot of cam sites that are doing very good and they are Bitcoin only businesses too ;-> .... There is also companies like Abra :

http://www.coindesk.com/abra-remittance-app-us-launch/ or do they fall under exchange services. I guess the company in my signature does not count too...  ::) .... This is harder than I thought,

because Bitcoin only businesses are still in their early years ... 3 years or more, so it's difficult to be successful overnight.  ;)

Coinbase? Don't know if they are making money, but at least they are expanding.
A lot of folks don't like them, but I have to utilize them to buy some coins if I needed to.

Coinbase just cut service to Germany and in the process of cutting Canada (because another Bitcoin business, Vagoogo or something, their payment processor, is folding).
But per OP, "DNMs, gambling, and exchanges don't count."


Thus far, the following proved to be relatively successful.
1. Ponzi schemes:                                Bitcoin Forum > Economy > Marketplace > Gambling > Investor-based games
2. Gambling:                                        Bitcoin Forum > Economy > Marketplace > Gambling
3. Usury and theft:                               Bitcoin Forum > Economy > Marketplace > Lending
4. Selling dreams to suckers:                  Bitcoin Forum > Economy > Marketplace > Securities
5. Selling carded goods/pirated software: Bitcoin Forum > Economy > Marketplace > Goods > Digital goods
6. Farming/selling Bitcointalk accounts:    Bitcoin Forum > Economy > Marketplace > Auctions

Well of course the profitable successfull bitcoin business list in my country was coins.ph its a kind of merchant who adopted the system of digital currency which is bitcoin. where you you can put a load in your mobile,send money and billings of payment. :)

You murdered the thread before it even got started. The only one I can think of would be ASIC manufacturers.

Major exchanges are probably doing well. I've only seen bitstamp's annual reports and looked like they were making decent profits. Now the question is how much are they reliant on received VC funding.

With no insight and knowledge of financial affairs it's hard to determine whether business is successful or not.