We’re super excited for Black Friday, although we had a couple hiccups launching the site, we’re now ready for the holiday shopping spree!
Bitcoiners are increasingly buying back their bitcoins as soon as they sell them; in some instances, Bitcoiners will end up buying just as much or more bitcoin than they originally spent. Services such as Coinbase’s “repurchase” feature expedite this process and integrate it into their Bitcoin shopping habits. Remember that #BitcoinBlackFriday is a recent phenomenon and each year there are exponentially more Bitcoiners and bitcoins moving around.
As more and more merchants hold larger and larger percentages of the bitcoins received (on average), the Bitcoin ecosystem grows. Increasingly, small businesses are even able to pay their costs using Bitcoin. There are services around the world that let you use Bitcoin to pay for utilities or common business services such as VPNs or domain name registration. Some businesses are even able to pay their suppliers directly in Bitcoin.
Bitcoin Black Friday continues past Friday. The same way that Amazon and other online retailers are opting to do a “Cyber Week” to truly milk America’s collective consumerism for all that it’s worth, Bitcoin merchants are finding that discounts generate traffic, generate publicity, and generate sales. For example, Newegg’s Bitcoin only deals are valid until Cyber Monday. The data from Bitcoin Black Friday 2014 will be released soon after the sales end, but it is already expected to be the biggest day in Bitcoin commerce.
What do you think about the Bitcoin price rise on #BitcoinBlackFriday? Comment below!
Images from Shutterstock.
Last modified: November 29, 2014 00:49 UTC