Startups’ Hopes Wane as Bitcoin Fails to Gain Currency With Consumers

The bitcoin movement, encouraged by venture-capital investors, has so far failed to kick off a consumer cryptocurrency revolution.

Investors’ hopes had run high that the digital currency could solve credit card fraud and lower fees on purchases.

“We saw the digital currency as a solution, the proverbial silver bullet to solve these issues,” said John McDonnell, a former Visa Inc. vice president who co-founded San…

mm – leading Bitcoin News source since 2012

Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.