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If you thought Bitcoin acceptance was being spearheaded by the more ‘niche’ sections of the consumer market, you may now think again.
If you thought Bitcoin
acceptance was being spearheaded by the more ‘niche’ sections of the consumer
market, you may now think again.
among merchants is booming, and its potential as a marketing tool is being
realized by an ever-increasing number of merchants. And while we’ve recently
carried stories about escorts in Las Vegas, Bitcoin is now the domain of less ‘exotic’
(but no less exciting) outfits in its bid to integrate into as many consumer
demographics as possible.
Enter UK-based LubeStore, an
online sex shop which this week announced on Reddit its intention to allow Bitcoin payments. Its
founder, who told me they would prefer to keep their identity a secret in the
true spirit of Bitcoin, was impressed by the reaction of Redditors to the news
“We saw an awesome response on the r/Bitcoin
subreddit and it seemed like people took a real liking to us,” he said, “We
had over 3000 unique visitors to our store in 2 days solely from Reddit and a
few people bought some items. All of
whom used Bitcoin of course.”
stories such as this are a noticeably far cry from the scenario of even just
one year ago, when merchant infrastructure for cryptocurrencies was
considerably more lackluster. LubeStore, like others, can sense the changes in
the client base.
“One thing I love about the Bitcoin community
is that there is a large chunk of people who want to kickstart spending and
start using their coins,” its
founder continued, “so it seemed like a
natural decision to open my doors and offer the option to people who may want
to use that payment method.”
The comments echo
those of several UK Bitcoin adopters such as the commercial director of
software marketplace CeX, which trialed BTC-only payments in its Glasgow
store earlier this month.
however, the change could well be permanent with the success of the Reddit post
leading to the announcement of a 20% discount scheme for Bitcoin
purchases, also released on Reddit. Moreover, the company sees the long-term
benefits of digital currency acceptance and propagation more clearly than ever.
“People like that anonymity when buying things
online, it's safer and cheaper in most cases and I think a real necessity in
the world of today,” its
founder said, “I think the future is still bright for Bitcoin.”
Making the leap in
reputation from ‘niche-alternative’ to ‘necessary’ is something which digital
currency has not yet managed, but with supporters like LubeStore coming out of
the woodwork with increasing frequency and optimism, there remains much cause
for excitement about it in the retail sector.
(With thanks to the
Reddit community for the title of this article).
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