Video card sales of TigerDirect grew 50% after the official announcement of accepting Bitcoin.
Bitcoin has already proved to be a kickstarter for various fields. As an example, we can remember the raise of stock after Zynga proclaimed they would allow micro transactions in Bitcoins for their games, or a success on overall raise of sales of Overstock.com. Now magic hand of cryptocurrency has touched the retailer of electronics, which proved to be success, and it’s not surprising.
Most of Bitcoin users still are crypto enthusiasts and electronic maniacs. Of course, there is a layer of those, who use coins as a convenient way to transfer money across borders or a large group of speculators, who are hoping to extract money out of thin air using the “bubbly” nature of digital currencies. However, I bet that majority of Bitocoin users either work in IT or just love this stuff in general.
So, if people who hold a web wallet full of coins to actually buy something are also those who prefer to build their PC from components, instead of buying “ready-to-work” machines, which is actually cheaper and more effective if you know what you’re doing, then the matter is simple. Make a deal with BitPay, GoCoin or any other PayPal-like service for Bitcoin, announce that you are joining the cryptomovement.
Well, maybe I am a bit exaggerating. The whole process is not that pie-easy, but really starting to accept coins won’t harm. Surely, there are price fluctuations but the expansion of user base worth it. For now at least.
Manager of the brand, Steven Leeds has explained that buyers have been asking them to investigate the thing and well, customer is always right. Another fact upon which the decision was made is the raise of coin mining equipment sales. He also states that their role model in this one was Overstock:
“As opposed to Overstock, we didn’t just lock 40 engineers in a room for 10 days to be the first ones to come out with it. We really spent our time vetting companies.”
Leeds also believes that they would expand their stock with mining equipment from leading developers of Bitcoin rigs.
As in any electronic-related sphere, the ability to evolve is crucial. That is why Leeds says that they are not stopping at Bitcoin and now are researching, which cryptocurrency would be best suitable to support next. He admits that probably the best candidate for this would be Litecoin. Again, the demand decides everything; if enough customers would ask for “Lites” then it’s their duty to make them happy.
However, the Litecoins have been recently adopted by GoCoin (which actually continues looking for way to implement new cryptos). BitPay in contrast has no such option and assuming its brand, it won’t likely follow GoCoin’s example.
Anyway, that’s not a headache I’ll be suffering from. We can only wish Leeds and his team good luck and hope that more companies will begin to see the benefit of accepting multiple digital currencies.