Bitcoin Startups Prove The Currency Isn't Dead Yet

Despite bitcoin’s recent price drop, it continued to find support from enthusiasts who believe that the volatility is simply a matter of growing pains as the cryptocurrency settles in for the long-haul.

The past few days have been a roller coaster of emotions for followers of the cryptocurrency, but startups using blockchain technology continued to prove that the currency may be down, but it isn’t out yet.

Lighthouse Premier

On Tuesday, a new crowdfunding application called Lighthouse was released. The site allows users to donate to different causes or set up their own fundraising campaign using bitcoin.

For the moment, the site has only captured the interest of bitcoin developers who are looking to fund new ventures, but the site’s creator Mike Hearn says he envisions it being used for everything from charitable fundraising to getting large groups together to buy tickets or purchase products at a discounted price.

He says that although a bitcoin based fundraising site doesn’t appeal to the masses just yet, the considerably lower costs associated with user transactions will be a big selling point.

Coinbase Sets Funding Record

The bitcoin community’s morale was also lifted by news that Coinbase had raised $75 million in new funding, the largest amount ever raised by a bitcoin company.

Related Link: Bitcoin's Self-Regulation Put To The Test

The company says it wants to use the cash to develop another site that will allow people to build their own apps using bitcoin. Big names like the New York Stock Exchange were among investors who were convinced to shell out large sums after the company announced that despite the erosion in the value of bitcoin, Coinbase has seen users increase from 600,000 users to 2.1 million users.