According to social media postings and sources familiar with BitPay the company has laid off 9 employees today. These layoffs come not long after BitPay has finished spending on the first of three Bitcoin Bowls they have committed to sponsor in an obligation that runs through December 2016.
It is unknown if the layoffs reflect a systemic overspending problem at BitPay which could burn through the funds they have raised from venture capitalists, or if the layoffs were taken to address an excess of hiring beyond that necessary for their labor needs. Bitpay has historically been known for "celebrity hires" like their hiring of Bitcoin Foundation board member Elizabeth Ploshay as an account manager in the Summer of 2014.
Qntra has not yet reached out to BitPay for comment on this matter.
Some lulzy stuff indeed.
What if it's not about money and it's about too many hires? BitPay went from startup size to small-mid company size very quickly, so its not out of the realm of possibilities they may have just over hired.
Well, over hiring and too many hires are kind of the same thing. I mean it is also possible they hired too many people at the wrong positions and need to rebalance.
Yet at the same time they posted five new job postings:
http://coinality.com/author/bitpayjobs/
Could be that the jig is finally up on the greatest Ponzi scheme of all time. Roger Ver and the other Bitcoin evangelists are sitting in the Bahamas laughing their a-holes off. Good luck stooges.
Doubtful Roger Ver is laughing his ass off having exchanged one passport for a less useful one.
The truth of the matter is people are still taking the sophisticated microscope that is Bitcoin and using it like a common hammer. Give this thing another decade.