[2015-12-28] 10 Bitcoin Startups That Didn’t Make It To 2016

[a7mos]

10 Bitcoin Startups That Didn’t Make It To 2016

This year, the cryptocurrency ecosystem saw lots of ups and downs. While bitcoin came under fire for its alleged use by the terrorist group ISIS, several bitcoin-based start-ups closed their doors. Some cited insufficient resources to run the company as the reason for closure, while others quit due to digital currency regulations, declining interest in digital currencies, and other reasons.

Here’s a list of companies that failed to make it through 2015:

1. Mining ASIC Technologies

2. CoinTerra

3. Bonafide

4. Brawker

5. Buttercoin

6. BTC Guild

7. Harborly

8. 37coins

9. Swarm

10. GAW Miners


http://www.econotimes.com/10-Bitcoin-Startups-That-Didnt-Make-It-To-2016-135935

[pawel7777]

6. BTC Guild

Bitcoin mining pool BTC Guild halted its operations at the end of June, as reported by CoinDesk. According to the company, the finalization of New York State's BitLicense was a primary reason behind its decision and it said that the pool could not afford any legal threats that may crop up as a result of the New York regulatory framework.

Wasn't this a bit of overkill?

Were they really a subject to BitLicense? Or was it more of a case when they announced that they will close when BL comes into effect (in its original, very restrictive form) and lost most of the mining power because of that, before BL was actually finalised?

Edit: yup, I was right:

A spokesperson for the New York State Department of Financial Services (NYDFS) later told CoinDesk "miners and mining pools are exempt from the BitLicense".

http://www.coindesk.com/bitcoin-startup-shut-down-2015/

[aso118]

Some of those in the list (especially GAW) are alleged to be scams.
We should be happy that they didn't make it to 2016 (and scam more people).

[tyz]

it is part of the evolutionary process that most startups do no make it. only the best survive. and startups like GAW or Swarm deserved it. they were alleged to be a scam.

[Kprawn]

In other business environments that are not Bitcoin related, the ratio for successful startups are just as bad. This technology is not the answer to every problem we have in the

financial world, but it solves many of them. You have to apply this technology to cover the needs of the community to be successful, if you fail in that... your company will fail

too. We cannot expect 100% success from a technology that are barely 7 years old.