[2015-07-25] DigitalBTC Buys $10.1M in Bitcoin While Running Loss of $1.2M

[tyz]

n this year’s 2nd quarterly record, Australian firm DigitalBTC claims that it has actually placed up $ 1.2 million in losses, bringing the complete losses for the year to $ 2,744,000.

http://www.cryptocoinupdates.com/digitalbtc-buys-10-1m-in-bitcoin-while-running-loss-of-1-2m/

[jeffthebaker]

Dang... that's rough.

From what I have heard over time, holding Bitcoin hasn't particularly been a smart business decision thusfar. The currency is always fluctuating, and since many businesses didn't begin looking into Bitcoin before the coverage it got in late 2013, a majority of businesses have only been around to watch it drop.

[TraderTimm]

Dang... that's rough.

From what I have heard over time, holding Bitcoin hasn't particularly been a smart business decision thusfar. The currency is always fluctuating, and since many businesses didn't begin looking into Bitcoin before the coverage it got in late 2013, a majority of businesses have only been around to watch it drop.

Writeoffs due to currency fluctuations are the norm. Until there's a robust swaps market, that's just the way it is. Plenty of people are just fine from 2011, so I'd take issue with your rather generalized "from what I've heard over time" remark. Most smarter businesses convert immediately until they have confidence either in their predictive projections or factor it into their business model. The potential is still huge, so some drawdown is completely tolerable.

[kjlimo]

So this is a company created solely to buy and sell BTC?

[LiteCoinGuy]

So this is a company created solely to buy and sell BTC?

"The Company has four key fintech products and services including:

digitalX Direct: Software for the institutional market, providing Bitcoin liquidity to market participants.

Mintsy: Joint Venture with one of the world’s biggest digital currency exchanges, Cryptsy. This product allows consumers to lease large-scale specialized hardware to earn digital currencies.

Pocket: A mobile application that makes financial transactions simple and more secure.

AirPocket: A disruptive, global, peer-to-peer remittance product, utilizing the Bitcoin blockchain technology, proven in other digitalBTC products.The AirPocket mobile application provides customers a convenient, low-cost, cash transfer option.The product allows anyone with a small cash float to become a remittance broker and provides the customer with a cheaper, more flexible option to send remittances."

[kjlimo]

So this is a company created solely to buy and sell BTC?

"The Company has four key fintech products and services including:

digitalX Direct: Software for the institutional market, providing Bitcoin liquidity to market participants.

Mintsy: Joint Venture with one of the world’s biggest digital currency exchanges, Cryptsy. This product allows consumers to lease large-scale specialized hardware to earn digital currencies.

Pocket: A mobile application that makes financial transactions simple and more secure.

AirPocket: A disruptive, global, peer-to-peer remittance product, utilizing the Bitcoin blockchain technology, proven in other digitalBTC products.The AirPocket mobile application provides customers a convenient, low-cost, cash transfer option.The product allows anyone with a small cash float to become a remittance broker and provides the customer with a cheaper, more flexible option to send remittances."

Thanks!