The newly appointed head of the Bitcoin Foundation, a group that promotes development of the digital currency, believes crowdfunding is one part of the solution for its troubled finances.
Bitcoin Foundation - News, Features, and Slideshows
The Bitcoin Foundation, formed in 2012 to promote the virtual currency, has rejected claims by a board member that it's bankrupt but has acknowledged significant financial problems -- ironically as a result of a big drop in the value of its bitcoin holdings.
The Bitcoin Foundation, an organization that promotes development of bitcoin, is "effectively bankrupt" and has shed most of its staff, a member of the foundation's board of directors has said.
Bitcoin's popularity is growing, but even its biggest backers say it has a mountain of problems to overcome in gathering wider appeal.
Flexcoin, a site that described itself as the "world's first bitcoin bank," has closed after it got hacked and all of the bitcoins it had placed in online storage were stolen, the site recently announced.
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