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  1. #1
    Prowler aVaLON_52's Avatar
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    Bitcoin: Led By Example

    I hear a lot of skepticism and little chickens crying in fear of the adoption of Bitcoin; well here's a case of where it's already been adopted. Pay attention to the change in customer-base and transaction sizes in particular with this case:

    Quote Originally Posted by JOSEPH YOUNG on AUGUST 7, 2015
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    18 Months after Adopting Bitcoin, TigerDirect Reports Fantastic Experience and Continued Growth
    TigerDirect, an online retailer of computers and consumer electronics has been accepting bitcoin for 18 months through BitPay, beginning in January of 2014.

    Bitcoin Magazine sat down with Steven Leeds, head of marketing at TigerDirect to learn more about the company’s experience as one of the earliest major merchants to embrace Bitcoin. While recent reports from Expedia suggest that it has seen a decrease in bitcoin payments, TigerDirect shared a different story.

    According to Leeds, TigerDirect has been thrilled with its decision to accept bitcoin. Leeds noted that Bitcoin has drawn new users to TigerDirect, with 46 percent of customers purchasing with bitcoin being new users. The company also told Bitcoin Magazine that the average order placed with bitcoin is 30 percent larger than the average order.

    Leeds explained that TigerDirect sees the highest volume of bitcoin orders during periods of volatility for bitcoin price. These purchases are typically luxury items such as high-definition TVs, gaming consoles and computer monitors.

    “On days when the price is rising, we see users eager to spend some of their newfound wealth. And when the price begins falling, we see others who want to avoid the volatility by spending it on consumer electronics,” said Leeds.

    Despite the fall of the bitcoin price into the $200s, TigerDirect has still seen consistent bitcoin transaction volume.

    Advantages for Bitcoin Companies

    In addition to it’s consumer electronics business, TigerDirect also supplies hardware to many businesses, including a significant number of Bitcoin companies. Some of these companies include miners who use TigerDirect to buy power supplies, cooling systems and other hardware. These miners do not have to convert their bitcoin to cash, as they can pay directly with the bitcoin that they have mined.

    TigerDirect was originally introduced to Bitcoin by some of it’s employees who were early adopters and miners of the currency.

    “We’d recommend Bitcoin to any company considering it,” Leeds said. “We’ve had a fantastic experience accepting it, and BitPay allows us to integrate the payments into our existing checkout flow easily.”
    See orignal article here

    If TigerDirect can do it, surely Entropia can follow suit.

  2. #2
    Mutated mastermesh's Avatar
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    not sure how accurate comments on articles can be, but this one is interesting... and a bit relevant:
    https://www.cryptocoinsnews.com/bank...bank-accounts/
    Show me the law that says I can pay my taxes in Bitcoin then. Please. What you have done is given over 2 million dollars to a payment processor and they have paid your bill on your behalf. So you didn't buy anything with bitcoin - you used an agent to do the buying FOR you and the agent paid Tiger direct on your behalf. Tiget Direct DOES NOT TAKE Bitcoin. That is what is happening on the Tiger Direct purchases, Amazon, Overstock etc. Don't disagree that this is a way to get people used to transacting in bitcoin, but the taxes are paid on FED NOTES, not the bitcoin equivalent. I'll even stretch a bit and say that the Money Exchanger's license (required to "trade with the enemy") contract states that in order to hold that license then taxes must be paid on the
    FRN equivalent of any and all "non FED" currencies they deal with.

    I'm sure there will be several intermediaries that will accept bitcoin in payment of your taxes, but they will be just another clearing house like Bitpay or Script and the others. They accept bitcoin and pay your tax bill and retail bill with FED notes. I can pay my VISA Bill with bitcoin as well - Oh wait a minute - No I cannot - I can pay an intermediary Bitcoin and they will pay my VISA bill with Central Banking Notes on my behalf. They have to pay the taxes on it (my money exchanger license statement) so they would of course include the expense in the price of the service.
    Other interesting reading on this topic:
    http://www.tigerdirect.com/bitcoin/h...p#bitcoin_TsCs
    Tigerdirect.com is committed to accepting Bitcoin and making shopping and payment at Tigerdirect.com as convenient, fun and rewarding for our shoppers as possible. However, our acceptance of Bitcoin as a form of payment, and these terms and conditions, may change at any time, for a variety of reasons, at our complete discretion and without any advance notice whatsoever.
    Last edited by mastermesh; 08-09-2015 at 11:18.

  3. #3
    Elite billairboy's Avatar
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    Well, it says nothing about how many the Bitcoin payments are or how big share of the total payments is done in Bitcoin. Is it 0.1% or 0.01%?
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  4. #4
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    Quote Originally Posted by billairboy View Post
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    Well, it says nothing about how many the Bitcoin payments are or how big share of the total payments is done in Bitcoin. Is it 0.1% or 0.01%?
    Good point .

    I am a lover of Bitcoins, as it bypüasses rediculous high bank fees and is as fast as Paypal (nearly). But the system itself is only for tech fanatics like me, I know only very few people who are interested to learn how to use it.

    So my bet is the next generation of cryptocoins, I doubt (even though I was hoping for), that Bitcoins will replace Paypal.

  5. #5
    Dominant WangXiang's Avatar
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    There are even games that begin to fully integrate bitcoin and blockchain technology in their game economy, with items being tradable on the blockchain outside of the game.
    Taming and pets in Entropia Universe - Information about stables on Monria and Toulan - www.entropiapets.com

  6. #6
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    So, accepting Bitcoin will drive a whole new crop of players to EU? I thought they already accept Bitcoin through Netteller. What happened to that?
    Disgusted since 2006.

  7. #7
    Elite WhiningSkeptic's Avatar
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    Quote Originally Posted by Rumsponge View Post
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    So, accepting Bitcoin will drive a whole new crop of players to EU? I thought they already accept Bitcoin through Netteller. What happened to that?
    Seems like they still do:

    http://www.neteller.com/pp/bitcoin/

  8. #8
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    people will only spend there money were they want the only thing bitcoin if they increase the players here is that bitcoin is more easy to pay other wise your not going to get alot more new players

    can i buy bitcoin at the local store or bank if you have to use your bank acount or credit card to buy the first bit coin why not do it here also

  9. #9
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    Quote Originally Posted by JD RACING View Post
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    people will only spend there money were they want the only thing bitcoin if they increase the players here is that bitcoin is more easy to pay other wise your not going to get alot more new players

    can i buy bitcoin at the local store or bank if you have to use your bank acount or credit card to buy the first bit coin why not do it here also
    Hehe, I go to a restaurant regulary that accepts BTC in Munich/Germany

  10. #10
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    so you only go to that restaurant because they accept bitcoin so now they have a long line up of bitcoin customer

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