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…

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