These 441 (And Rising) Retailers Are Offering "Bitcoin Black Friday" Deals

Tyler Durden's picture




 

If one of the initial fears surrounding Bitcoin, or rather digital currencies of which there suddenly appears to be a veritable tsunami now that anyone with an algorithm can become their own central bank (and all are exploding in value in what should make at least a few people nervous) is lack of adoption, that may be put to rest courtesy of a new initiative called "Bitcoin Black Friday" which, as TechCrunch reports, has been adopted by over 400 online retailers who starting on Friday will be offering special deals just for Bitcoin users.

Since this is Bitcoin's first unofficial Thanksgiving, having stormed on the public scene after exploding in price from under $100 to nearly trading on parity with an ounce of gold, many of the Bitcoin-only offers are gimmicky: "you can use bitcoins to buy a bacon-flavored lollipop or a ticket to space on Virgin Atlantic, for example. That's not really going to help you with your holiday shopping list, though. However, there are some decent choices on the site, too, but for obvious reasons, they tend to be a little more geeky in nature. Adafruit, for instance, is offering 10% off of everything in stock, including Raspberry Pi. Reddit is selling Reddit Gold. The Humble Bundle has deals up for grabs. There are also software, electronics, domain name and hosting deals, and so on."

A sampling of the deals from the site is shown below:

And while there are some good deals to be found...

Mobile gift card app Gyft is one of the better deals available, giving Bitcoin shoppers 4 percentage points back when you buy gift cards from its supported retailer partners, like Target, Gamestop, Gap, Zappos, Nike, Old Navy, and hundreds of others. If you were stocking up on gift cards anyway, that's worth taking advantage of. (For what it's worth, PayPal users will get 3% back, while credit card users get 2% back, the company says.)

... TechCrunch correctly observes that the catalog is no Amazon, for obvious reasons: "the deal quality on “Bitcoin Black Friday” is a good indicator of where Bitcoin is in terms of mainstream adoption. That is, not so much. There really aren't big-name retailers on board with the digital currency at this time... big-name tech companies like Google, Amazon and eBay aren't going to play along either, as they all have their own payment mechanisms to push (Google Wallet, PayPal and Amazon's one-click checkout experience, respectively)."

But the list of vendors is growing at a pace that only rivals the explosion in the price of Bitcoin itself:

The Bitcoin Black Friday movement is still growing, however. Earlier this week, it was touting that 250 retailers had signed up, and today there are nearly 200 more. Evan Greer of Fight the Future also tells us the site has seen over 30,000 unique visitors to date, almost half of which arrived yesterday. Meanwhile, over 4,000 people have signed up to get an email when the deals go live.

And even if the popularity of Bitcoin adoption also follows a parabolic curve, a bigger problem is accurately observed by TechCrunch. Consider that on one hand Internet activists Fight for the Future are trying to spread the word about the Bitcoin Black Friday efforts, somewhat radicalizing the event by pointing to Bitcoin's potential to be disruptive to the status quo. "Bitcoin is an amazing new technology, but because it challenges established industries, it will face serious political opposition–especially in the U.S. where those industries are strongest,” the message reads on the project's site. “Bitcoin will only be safe once millions of people rely on it every day.”

Yet on the other hand, it is the sheer surge in the USD-denominated value of Bitcoin itself that may be turning off many people due to the law of large numbers (Bitcoin can't do a reverse stock split), and instead potential entrants to the digital currency world are looking at far cheaper BTC competitors (and there are plenty), as an alternative:

Of course, Bitcoin won't reach those mainstream “millions” while speculators drive the price of the cryptocurrency to crazy new heights. That doesn't discount its long-term potential though as a money transfer platform, though. But as a payment mechanism for online shopping? While it's great that there are over 441 retailers on board with Bitcoin Black Friday, it would be better if there were more deals mainstream users would actually want to buy. Instead of say, Bitcoin t-shirts, stickers, glasses, mining equipment….and, oh yeah, more Bitcoin.

Then there is the flipside to the argument. If and when the inevitable correction comes, how many of those who decided to give bitcoin "a try" will end up losing substantial disposable income and be turned off by the whole concept of alternative currencies? Someone with a paranoid bent may see how such a scenario could be put to great use by those who can create fiat de novo and use it to bid up BTC to stratospheric levels only to force a crash subsequently.

* * *

And in totally unrelated news, and showing that sometimes nothing beats having a physical currency in one's hand is the story of James Howells from Wales, who bought 7500 Bitcoins in 2009, forgot about them, threw away his hard disk and is now scrambling to retrieve because the value of his "digital wallet" has exploded to over $7 million! From BBC:

A Newport man has been searching a landfill site in south Wales hoping to find a computer hard drive he threw away which is now worth over £4m.

 

James Howells's hard drive contains 7,500 bitcoins - which is a virtual form of currency for use online. It had sat in a drawer for years and he had forgotten it contained the bitcoins, which he obtained in 2009 for almost nothing, when he threw it out.

 

But this week, a single bitcoin's value hit $1,000 (£613) for the first time. It means Mr Howells's collection is now worth $7.5m (£4.6m).

 

A few years ago Mr Howells, who works in IT, had dismantled his computer after spilling a drink on it. "I stored a couple of parts away like the hard drive, and the rest of the bits and pieces which were still working I sold for spares," he told BBC Radio Wales.

 

"I kept the hard drive in a drawer in my office for three years without a second thought - totally forgot about bitcoin all together. I had been distracted by family life and moving house.

 

"Fast forward to 2013 which is when I had a clearout of my old IT equipment - I hadn't used this drive for over three years, I believed I'd taken everything off it... so it got thrown in the bin."

 

Mr Howells later realised what was left on the hard drive.

 

He added: "I had been hearing a few stories of a chap from Norway who had bought a number of coins for a very low price and had sold them for a high price and that's when I got back into checking the price and seeing what I'd done.

 

"When I found out what the price was, the penny dropped and I realised the coins I have 'mined' were on the drive I had thrown away.

 

"There was not a lot I could do."

Good luck James.

The irony here is that while many owners of the barbarous relic, (which may not be rising parabolically in price right now, but at least feels quite firm to the touch) are known to have "unfortunate boating accidents", water has a less than desired effect on electronics. But that's ok: we are confident that any Bitcoin lost in the electronic ether can always be retrieved eventually: just call 1-800-NSA.

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Thu, 11/28/2013 - 16:19 | 4197478 Dear Infinity
Dear Infinity's picture

When bitcoin reaches a high enough price point, you won't even need to convert to fiat to use it. Bitcoin is the exit strategy. 

 

1 oz of Gold = 1.22 BTC

1 oz of Silver = 0.019 BTC

Thu, 11/28/2013 - 16:35 | 4197502 nope-1004
nope-1004's picture

Exit by whom?  The average Joe wanting "freedom", only to be tracked?

 

1 oz gold in 2000 = 0.3 Enron shares

Pick your ratios wisely.

 

Thu, 11/28/2013 - 16:40 | 4197520 fonestar
fonestar's picture

Read the title right?  It's spreading and your boot-licking, state-worshiping days are over! 

Thu, 11/28/2013 - 17:15 | 4197610 BlackChicken
BlackChicken's picture

Alright, I've had enough of your little bitchy ass.

Nope-1004 has contributed more to this site than your hubris inflicted gloating little foreign ass could in the next ten years.

Just because he and others here, including myself, have suspicions about the current meteoric rise in valuation does not make us boot licking state worshipers.

I have never seen any shill before you talk his book harder. If you don't like us, our format, our conversations, or our country, than please GTFO of here.

Thu, 11/28/2013 - 17:23 | 4197622 fonestar
fonestar's picture

I've been on here for years and I have sacrificied a lot ($1.05) to make the comment section of this blog what it is today.  Nowhere on signing up for fight club did I see any mention of the need to be American or anti-BTC.

Thu, 11/28/2013 - 17:29 | 4197644 BlackChicken
BlackChicken's picture

I'm not anti Bit Coin. Don't put words in my mouth.

What I'm tired of is your obsession to place anyone with legitimate questions immediately in the knuckle dragging camp. The hubris and gloating aspect of your contributions is what is eating at me. You are obviously an intelligent contributor, but your words and opinions will reach much further when you don't come off like you "know" the future and its only solutions while using negative connotations to those of us who are a little seasoned in different aspects of investing.

Thu, 11/28/2013 - 17:33 | 4197656 fonestar
fonestar's picture

I've never been rude to people who had legitimate questions regarding BTC, in fact I've pointed them in the right direction.  Only to people who were mocking and dismissive of something they clearly had no knowledge of, which in my mind is not compatible with ideas of liberty and freedom.

Thu, 11/28/2013 - 17:42 | 4197681 BlackChicken
BlackChicken's picture

I don't believe that to be true.

Look, I really don't have time to go searching through your comments to find examples of rudeness/hubris in commenting about BC. We all have ideas and beliefs about liberty and freedom, but they are different because we are all different.

I am celebrating Thanksgiving today, a day set aside to remember and to be grateful for what we have. Not in a material possessions way (although that part does not hurt), but for family, friends, health, honor, and love.

I am grateful for people like you, who offer insight to different ways of expressing liberty and freedom. Can you do it in a less abrasive format? If you can pull that off, your ideas and input will go much further.

Thu, 11/28/2013 - 17:45 | 4197690 fonestar
fonestar's picture

I will try and stick to what is factual and known.  Happy thanksgiving.

Thu, 11/28/2013 - 17:49 | 4197699 BlackChicken
BlackChicken's picture

I will try to do the same. Happy Thanksgiving to you as well.

Tomorrow, we can go back to the fight right?

Thu, 11/28/2013 - 17:54 | 4197715 fonestar
fonestar's picture

Fight Club is 24/7

Thu, 11/28/2013 - 18:57 | 4197871 olto
olto's picture

fight club is dead, fonestar

words are not fighting

Thu, 11/28/2013 - 20:30 | 4198027 knukles
knukles's picture

Fight Club is an allegory of man challenged by his very own ego.
It has nothing to do with arguments, fisticuffs or the like.
Hint hint hint....

:)

Thu, 11/28/2013 - 21:12 | 4198101 SWRichmond
SWRichmond's picture

Bitcoin is controlled op.  If you guys cant see what a fucking psyop the whole bitcoin thing is (senate hearings...arrests...soaring "value"...all in the face of an obvious disintegrating reserve currency and empire) then you're stupid.

Thu, 11/28/2013 - 21:44 | 4198144 fonestar
fonestar's picture

I've investigated every link I have come accross claiming that Bitcoin is a intelligence-controlled currency.  All I have found is whispers about so and so and how somebody knows someone that heard something.  Basically nothing but FUD and crapolla.

Thu, 11/28/2013 - 22:08 | 4198177 SWRichmond
SWRichmond's picture

Then you should buy them and sleep well.

Fri, 11/29/2013 - 00:13 | 4198396 TheHound73
TheHound73's picture

zzzzzzzzzz.

Fri, 11/29/2013 - 01:57 | 4198556 fonestar
fonestar's picture

I would welcome any evidence you have to the contrary and study it objectively.  However, I very much doubt you have anything new and exciting in this regard.

The truth is that Satoshi was already working standing on the shoulders of past computing geniuses.  His brilliance was tying existing technology into a usable currency and solving the double-spending problem.  There is no reason to believe such a project required government or intelligence agencies to assist with it.

Thu, 11/28/2013 - 22:26 | 4198210 PP
PP's picture

is there anyone still seat in front of srcreens? good thanksgivingday!

is Tyley here?

give you some important information regarding bitcoin and (AAAcoin to ZZZcoin) in China:

actually in 2007, Ministry of Security, Ministry of Culture, Ministry of Industry and and Information Technology and general administration of press and publication, that 4 ministry jointly annouced a regulation - you should understand in China, regulation is law - regulation is gongtongzi [2007]No.3 link: http://www.zjwh.gov.cn/zcfg/xzgz/bw/2012-01-19/117295.htm

That clearly says: Forbidden any kind of electronic currency to exchange back to CNY (Chinese Yuan) that law is directed against electronic currency like Q coin (a very famous visual currency issued by tencent)

So, from law bitcoin is illegal in China. the only question is whether Chinese government obey that law, or not. We think time for bitcoin and their cousins AAAcoin-ZZZcoin will be short.

And in internet most of people against such electronic currency becasue such currency issued by programmer, and developer, website and a few people hold a large portion of total issuing currency (so de-centralised is fake), that group of people use such ability to dilute society wealth and make counterfeit, some people in China have already bought house and car by issuing, trading electronic currency.

Everyone can be his own central bank and government, and can issue private currency / counterfeit money into system, then exchange back wealth from other people, this is wrong.

 

 

 


 


Thu, 11/28/2013 - 23:42 | 4198348 nope-1004
nope-1004's picture

+1

"a few people hold a large portion of total issuing currency (so de-centralised is fake),"

Exactly as BOP outlined & observed in the other thread.

 

Thu, 11/28/2013 - 23:58 | 4198372 Duke of Earl
Duke of Earl's picture

Not sure how impact the legality will have.  China is currently driving up the price despite the legal status.  In the US, everythiing is illegal unless expressly permitted and the buying continues.

You are dead wrong about everybody being a central bank with Bitcoin.  Perhaps you are talking about AAAcoin, if not this is a straw man argument. Every form of hacking of Bitcoin and the protocol was tried before anyone mainstream had heard of it and it still stands strong.

Fri, 11/29/2013 - 00:16 | 4198404 PP
PP's picture

Bitcoin has two problems, as ZH reported, about top 500 holders (especially early holders) controls around 50% existing bitcoin, top 100 holders controls 20%, this is market cornering. and their wealth is created from thin air, this is exactly ponzi scheme is, or paramid selling, that early people create and hold very cheap bitcoin, then sell it to later people at 100-1000 times price

This is not hacking, this is producing counterfeit money there is no difference that you buy a money printer from Fed to print dollar, or you use AMD display card to create bitcoin. (but bitcoin miners and early buyers don't realize that)

total paper money supply is increased

Fri, 11/29/2013 - 00:27 | 4198425 Duke of Earl
Duke of Earl's picture

I suppose it's a problem in the same sense that in IPO's there is a high concentration of wealth with the company founders.

It is correct to say that it *may* be a problem. The harder problem is how to introduce such a currency without a concentration of wealth.

To be a Ponzi scheme, there has to be an intent to defraud. Simply introducing a brilliant concept and profiting isn't criminal, not sure why you assume this.

The money is not counterfeit and is more genuine and provable than any other money you use. The supply is increasing at a publicly known rate. Try finding this level of transparency anywhere else.

Fri, 11/29/2013 - 02:04 | 4198552 PP
PP's picture

other money has been exchanged from hard work, yes, from government (and always print more), bitcoin is created from thin air, and some young IT guys use it to exchange real thing and real money

 

Bitcoin is not money. Bitcoin is only a payment method.

 

Someone may think Chinese hate their government, but when there is big issue, like counterfeid flooded to China, most of citizens will support government to crack down it. there are 99.9% in Chinese internet urge government to do something to bitcoin and 99.99% say that one is ponzi shceme.

You may use your bitcoin worth $1000 or maybe one day worth $1,000,000 to buy goods in Amercia, but Chinese don't. Let's see.

No one can earn wealth without hard work, if they already use bitcoin to earn a lot of money, one day they will pay the price.

 

Fri, 11/29/2013 - 00:20 | 4198411 TheHound73
TheHound73's picture

Bitcoin's "killer app" is subverting government controls. Anyways, BTCChina and a dozen other exchanges operate quite blatantly and openly on the mainland.

Thu, 11/28/2013 - 23:47 | 4198353 CH1
CH1's picture

Bitcoin is controlled op.

Evidence, sir, I want actual (not "could be" or "imagine if")...

E V I D E N C E.

Sun, 12/01/2013 - 21:25 | 4204972 daveO
daveO's picture

My sentiments, too. It's a great plan to distract from real money and balance the bankster's books(same way they front run other markets) at the same time. It will take a whole lot more buying to do much balancing, but who knows how far they can 'con' the internet generation. This is a golden oppurtunity, to buy real money.  

Thu, 11/28/2013 - 22:19 | 4198197 olto
olto's picture

back to sleep knucks

some of us really love to fight

and i liked the film because it was like my history when younger than now

thanks for the educational, but i prefer to remain unschooled

good luck to you, though

Thu, 11/28/2013 - 18:55 | 4197870 olto
olto's picture

blackchicken,

i'm fasting today in honor of those poor souls who fed the thankless pilgrims

i'm still embarrassed by the the treatment they received after that first thanksgiving

i'm grateful that i have never had to treat friends as the pilgrims did

Thu, 11/28/2013 - 20:31 | 4198029 knukles
knukles's picture

If you like your sovereign land you can keep your sovereign land

If you want a tutorial about immigration, chat with a native American Indian.

Thu, 11/28/2013 - 22:31 | 4198216 olto
olto's picture

Damn, Knuks---we keep meeting

I am an immigrant to south america since i arrived in 1994----'visa is immigrant/eeuu indefinido'---so i know all about being completely fucked over and made a fool of by the nationals---

i chat quite often with our hosts on turtle island when i am there----they offer no tutorials

I think that you have a lot of balls(excuse if you are a she) to------------well, i don't really give a shit to get into a pissing contest over these issues with someone who writes:

                                                                            'native American Indian'      

  i thought you were better schooled than that      i don't get out much anymore among folks because i like to fight and yours are fighting words

no threat of violence just an old reacting as though he is still a younger man              have a nice turkey    i'm sure you shot it in the forest

Fri, 11/29/2013 - 00:24 | 4198421 PP
PP's picture

we don't care whether Bitcoin to be world currency or not, and how many US retailers are accepting Bitcoin, we care about China market.

Half an hour ago one Chinese policeman says (on the phone, not internet): Government will crack down bitcoin, you should not buy it, you have to wait government action. We don't know time (as we are not top levels) but we are waiting orders. CCTV is also preparing some TV shows to comment on bitcoin

It is better Chinese develops its own coin, not buying from US at $1200 a shit.

 

Fri, 11/29/2013 - 00:42 | 4198449 greenbear
greenbear's picture

Lol, government shill with fake Chinee accent.  Funny stuff. 

 

Oh, the Chinese are buying alright.

http://fiatleak.com/

Fri, 11/29/2013 - 00:44 | 4198452 TheHound73
TheHound73's picture

The FUD is strong with this one.

Thu, 11/28/2013 - 23:56 | 4198368 greenbear
greenbear's picture

How can you say that Fonestar is talking his book when he has told you to invest in Bitcoin from $30?  If you would have just simply listened to him you could have bought 30 Bitcoins for under $1000 and sold one to let the other 29 ride for free.  You are proof positive that a gift horse should not be looked in the mouth.  But you don't even know what that means.

Thu, 11/28/2013 - 16:45 | 4197533 AlaricBalth
AlaricBalth's picture

Bitcoin has now been accepted as a medium of exchange by the worlds oldest profession in Birmingham UK. This holiday season may be a tad more jolly for bitcoin proponents.

http://www.zdnet.com/the-worlds-first-bitcoin-escort-agency-7000021209/

Thu, 11/28/2013 - 16:49 | 4197542 fonestar
fonestar's picture

All of the ladies like a virtual man with a loaded wallet.dat.

Thu, 11/28/2013 - 18:25 | 4197797 Matt
Matt's picture

Birmingham, UK is the area where one of the biggest, and most useful bitcoin exchanges, Bitstamp, is located. The Bitstamp price should be the one quoted, in my opinion, in preference over the MtGox price.

Fri, 11/29/2013 - 00:48 | 4198460 willwork4food
willwork4food's picture

Interesting statement Matt. Why would that be? And why did Bitstamp's price go over Mt. Gox's price several times this last week? I am curious what your response is. Anyone else?

Fri, 11/29/2013 - 05:30 | 4198845 dark pools of soros
dark pools of soros's picture

liquidty & cash flows are a bit jagged at this early stage and there are a few that can sail the rough arb seas...  

Fri, 11/29/2013 - 15:36 | 4200233 Matt
Matt's picture

If you sell Bitcoins on Bitstamp, you can actually get your dollars out. 

MtGox FAQ:

Please note the following rules :
- It is not possible to withdraw less than 10 EUR.
- Withdraws lower than 100.00 EUR are on average take less than a week.
- It takes at least a month on average for withdrawals larger than 10,000 EUR
- Withdrawals greater than 50,000 EUR need to be split it into multiple transfers or you can use the International Wire payment method.
- Due to the volume of withdrawals requests, each customer is currently only allowed 1 withdrawal every 20 days (estimate)

 Situation as of 29 November 2013: We are currently processing withdrawals requested 3 weeks and 2 days ago. (Users with several withdrawals in the queue must take the 20 day rule above into account)

So since Bitstamp actually moves real money, rather than just having your dollars sit there and take several months to withdraw, I consider Bitstamp the more reliable and useful price. AFAIK, BitPay uses Bitstamp as well.

Thu, 11/28/2013 - 17:06 | 4197585 whatthecurtains
whatthecurtains's picture

Wow I now believe Bitcoin is for real.

Thu, 11/28/2013 - 17:14 | 4197609 Handful of Dust
Handful of Dust's picture

Shucks! That old couch I threw away had a few Bitcoins lost between the cushions.

LMAO............................

Thu, 11/28/2013 - 17:59 | 4197729 mantrid
mantrid's picture

...it's for 15 minutes.

Fri, 11/29/2013 - 04:16 | 4198785 Kirk2NCC1701
Kirk2NCC1701's picture

1. Notice that there are FAR more readers for Bitcoin articles than for Gold.

2. Tylers and Bitcoin naysayers, please, please, please keep badmouthing Bitcoin until I've had my fill at prices I like.

3. Dear Santa, all I want for Christmas is a BTC dip, so I can BTFD.

Thu, 11/28/2013 - 17:30 | 4197645 mantrid
mantrid's picture

sheeple have no exit strategy. they don't even know they need one. it may be: sell now, or sell never or anything else. but they learn they need one when BTC starts downtrend. all at the same time. guess which one they'll pick up :D

Fri, 11/29/2013 - 00:24 | 4198422 TheHound73
TheHound73's picture

I'd pay you 1 btc if you can engineer a 25% drop right now.  :(

Thu, 11/28/2013 - 16:29 | 4197495 Haole
Haole's picture

...Gyft, Shopify, eBay and Amazon (through intermediary payment processors)...

Thu, 11/28/2013 - 16:51 | 4197555 fonestar
fonestar's picture

Is Bitcoin in a bubble?  Just google "bitcoin" and every article by a MSM puppet is telling me Bitcoin is in a bubble, therefore Bitcoin is not in a bubble.

Thu, 11/28/2013 - 17:18 | 4197614 James_Cole
James_Cole's picture

Of course it's in a bubble, are you kidding? Whenever something enters the msm consciousness like this the price gets distorted horribly.

What's your case for why it's crossed 1000$ (and will remain above) rather than hanging out at 300$? There's no fundamentals behind these prices at all.

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