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Author Topic: New Bitcoin-only electronics retailer hopes to undercut huge competitors like Am  (Read 1247 times)

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New Bitcoin-only electronics retailer hopes to undercut huge competitors like Amazon and NewEgg



Quote
Have you amassed a wealth of Bitcoins, perhaps through some lucky winnings in your local Bitcoin casino? There's a new place to spend them — all-around Bitcoin guru Roger Ver has just launched his new venture, the creatively-named Bitcoin Store. The Bitcoin Store focuses on consumer electronics and electronic gadgets across a pretty wide range of categories. It doesn't look like it has the newest or most cutting-edge stock, but there is still a good variety of products available, particularly for the DIY crowd. There's also some mainstream options, like  Sony's excellent NEX-7 camera and the Asus Zenbook UX31A.

This is hardly the first online retailer to accept Bitcoins, but the Bitcoin Store is hoping to undercut the competition and keep prices lower than other Bitcoin stores. According to Bitcoin Magazine, the store is slightly undercutting retailers like Amazon and NewEgg. According to Ver, the Bitcoin Store is able to do so thanks to the fact that it avoids expenses like credit card fees; it also has a partnership with what Ver says is "the world's largest wholesale technology distributor." The Bitcoin Store hopes to be more than just a low-cost electronics outlet, however — head of marketing Jon Holmquist told IEEE that "the point of the site is to show both consumers and business owners that using Bitcoin can drastically lower the cost of providing products." Ver and Holmquist are hoping that its competitors take notice of any success they have with Bitcoin in an effort to spread the budding digital currency around. ""Ideally what we want this site to do is to force Amazon, Newegg, Buy.com, to start accepting Bitcoin," said Holmquist. "If they do that, our job is done."
Source http://www.theverge.com/2013/3/4/4063084/new-bitcoin-only-electronics-retailer-competing-with-amazon-newegg
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