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Tbf, that first article was about bad investment choices on their part. In last year's market, they'd just brush this off like nothing. But the current bear mar
by sigmoid10 4y ago
Tbf, that first article was about bad investment choices on their part. In last year's market, they'd just brush this off like nothing. But the current bear market is killing them (and all the other crypto fintechs) and these things just accelerate their fall.
- latchkey 4y agoI disagree. The statement was clearly 'everything is fine' and when I read it, I entirely expected this new article to come out a few days later. I was at a small DeFi conference in May and there were a number of BC.com people there. Young kids with little experience in the industry. They had clearly over hired. On top of it, they did the cardinal sin of 'never invest more than you are afraid to lose'. They went into a high risk venture and lost hard. It isn't just the bear market. Not all other crypto fintechs.
- sigmoid10 4y agoI see crypto fintech startups failing everywhere. It's not the companies, it's the market. The fact that dumb investors threw money at them expecting this insane growth to continue didn't necessarily help, but if Bitcoin was still going strong, few to none of those companies would be in this kind of trouble.
- latchkey 4y agoYou see the news and news focuses on the bad. Not all crypto fintech startups are failing. Dig a bit deeper. For anyone, like myself, that have been in the crypto scene for a very long time, Bitcoin is doing just fine. Markets go up, markets go down. Nothing new here.