(From our collaborator Jon Holmquist, Bitcoin community insider and entrepreneur)
This week in the dramatic and sometimes comedic world of Bitcoin, the internet’s favorite crypto-currency:
1- Bitcoin Friday, an event occurring today!
Black Friday in the US refers to the day after Thanksgiving Day, which is traditionally considered the first day of the holiday shopping season. It’s generally the busiest shopping day of the year, resulting in huge profits for retailers – thus, putting them “in the black.
Bitcoin Friday is based on a similar idea, with Bitcoin exchanges and merchants who accept the currency offering promotional sales as a way to get Bitcoin users shopping.
Bitcoin Friday is a collaboration of 75 Bitcoin merchants to invigorate the Bitcoin economy. BitPay is already reporting record amounts of orders being placed using their merchant services. Several online stores are reporting that they’re out of stock. This event truly is a digital Black Friday existing outside of the banking infrastructure.
For a full list of sales, visit bitcoinfriday.com.
2- Bitcoin Store, a new electronics store accepting Bitcoin at competitive prices.
Roger Ver, known in the Bitcoin community for operating Memory Dealers and for a number of efforts marketing Bitcoin including a billboard and a radio ad, has announced that he is starting a new Bitcoin business: an all-purpose electronics store. The Bitcoin Store is already online, with thousands of products available for sale
The Bitcoin Store is the first real attempt at doing what Bitcoin does best, undercutting conventional payment processors. Since the Bitcoin Store does not need to pay processing fees, their prices can undercut both Amazon and NewEgg. This store presents an interesting challenge to Amazon and NewEgg, the two megastores need to either adapt or watch as their customers switch to the cheaper Bitcoin Store.
To view all the 500,000 available products on the Bitcoin Store, visit: bitcoinstore.com
What in the wide world of anonymity, drama and payments will Bitcoin bring us next week! Tune in again to find out.