Thank you all for supporting the Satoshi Direct experiment. We just shutdown the site a few minutes ago.

Thank you all for supporting the Satoshi Direct experiment. We just shutdown the site a few minutes ago.

I know, thank you. Out of 2,200 visitors to our site, yours was our only retail purchase in the entire month of September. I budgeted to run the site for a full year. Healthy ecommerce sites convert 1%-2% of visitors to a sale. I was looking for a 0.25%-0.5% sales rate to continue, because it is a new site. What we received was a 0.04% rate. So our test was not successful. And that's ok, like trading you have to be willing to cut your bad trades. Yes it's emotional to make this decision, we put a LOT of effort into this site over the last four months, but we can't let emotions make our decisions for us.

Thank you for the kind words. Unfortunately we're not even close. Many came, many browsed the site, many used promo codes to buy free products, but out of 5,000 visitors we only made two profitable sales without a promo code. Only one customer with a promo code came back to make a purchase without a promo code.

Announcement:

Satoshi Direct has not met the performance thresholds during our test launch to continue the website. We ran the site with promotion during the first 30 days and have been implementing the feedback we received while letting the site run organically for the second month.

If you are interested in purchasing Satoshi Direct, please PM me as soon as possible. We will be shutting down the site in approximately 24 hours.

Thanks for your support and giving us a shot!

Announcement:

Satoshi Direct has not met the performance thresholds during our test launch to continue the website. We ran the site with promotion during the first 30 days and have been implementing the feedback we received while letting the site run organically for the second month.

If you are interested in purchasing Satoshi Direct, please PM me as soon as possible. We will be shutting down the site in approximately 24 hours.

Thanks for your support and giving us a shot!

Hi, I sent you another email reply. Please write back when you have time.

Hi, sorry for the miscommunication. I sent you a reply on February 22nd via email. Can you check to see whether you received that message?

Thanks for the heads up, I fixed the link.  You can find the Goblin Shark watch here.

Agreed, and I'd like to go through the process if you'd PM me.  Quality control can definitely be an issue with direct shipment.  We're also trying to price accordingly.

That is good to know, thank you.  We welcome you to write a review on the product.  We're also tracking and reviewing all vendors internally, both product quality and delivery times.

Come checkout Satoshi Direct for games, gaming accessories, consumer electronics, apparel, and more.  

New products and daily deals are being added every day, like the Mr. Robot fsociety T-shirt for 44% OFF, The Witcher 3: Wild Hung GOTY for 50% OFF, and the Goblin Shark Sports Watch for 29% OFF.

We just processed our 50th order since our launch August 1st!!  

We're adding new products and daily deals every day, like the Mr. Robot fsociety T-shirt for 44% OFF, The Witcher 3: Wild Hung GOTY for 50% OFF, and the Goblin Shark Sports Watch for 29% OFF.

We just processed our 50th order since our launch August 1st!!  

Come checkout Satoshi Direct for games, gaming accessories, consumer electronics, apparel, and more.  

New products and daily deals are being added every day, like the Mr. Robot fsociety T-shirt for 44% OFF, The Witcher 3: Wild Hung GOTY for 50% OFF, and the Goblin Shark Sports Watch for 29% OFF.

Happy to announce we processed our 50th order! It's been quite a ride, and a month of long days and late nights since we launched on August 1st.  We're working hard to make Satoshi Direct the best possible store and best customer experience we can to represent Bitcoin in the best light possible to the mainstream.  We sincerely thank you for your support and your business. 

https://satoshi.direct

On sale this week:

Mr. Robot fsociety T-shirt

Click for Daily Deals

What I'm getting at is that the real world use of bitcoin is property (ie an investment).  It seems to be very rarely used as currency (ie to pay for something).

My opinion is that for Bitcoin (or any other network) to grow significantly it needs to be broadly accepted and used by the mainstream.  I don't see any other way to significantly increase demand.  I don't see the mainstream holding Bitcoin as an investment.  Bitcoin's use as a payment vehicle seems to make a lot of sense for International transactions or in countries with unstable currencies, but it's difficult to sell anyone in first world countries on the USD, EUR, GBP, AUD, JPY etc that Bitcoin is a better means of payment than credit cards, debit cards, PayPal, Apple Pay, etc.  Especially when the truth is that we don't at all, or rarely use Bitcoin as a payment method.

I believe that Bitcoin will eventually emerge as the superior currency, but I think it will take another decade.  Until then, during the growth period of the network, it will be a good investment.  Which brings it full circle, again, holding Bitcoin as an investment doesn't encourage or increase mainstream adoption.

I think it's interesting to look at the startup landscape versus reworks use.  The startup landscape seems to be focused on remittance and value transfer.  What's funny is big finance constantly saying Bitcoin is not a currency and the real disruption is the Blockchain, but isn't remittance and value transfer exactly the intent of currency?

From BitPay and Coinbase, to JPMorgan and NASDAQ, the ideas seem to be to use Bitcoin as a means to transfer fiat currencies, which I think is brilliant but limited.  I think Bitcoin is superior to ACh and SWIFT, but I'm also an advocate of the social revolution.  So simply a means of transferring fiat currencies kind of irks me a bit.

I would love to see the day when Bitcoin based businesses stand on their own without fiat.  Unfortunately it doesn't seem that's a reality yet.  The strength of Bitcoin is also its problem.  It's strength creates speculation and hording rather than the use of Bitcoin.  I'm guilty of this myself.

What does that mean?  Simple, do you invest in Bitcoin and hold it hoping for a future increase in value?  Or do you use Bitcoin to make purchases?  If you do use it, how often do you use it versus fiat?

I've been interested in the currency versus property debates in State courts throughout the USA.  It's an interesting topic to consider.  Outside of the theoretical debate, it seems to me that in practice bitcoiners themselves view and use Bitcoin as property and not as a means of payment/value transfer.

What are your thoughts?  And does it really matter? 

Today marks one month since we've launched Satoshi Direct.  We received very valuable feedback from the community.  It's been great to communicate with some of you one-on-one, and we've been working hard to implement your recommendations.  Our achievements and changes this month include:

Thank you everyone who participated in Satoshi Direct's video game reviews campaign.  We received 130 reviews and paid out more than $800 in total coupons!!  More important, the feedback we received from the community has been great and we've worked hard to implement changes as fast as we could, and still have a long list of tasks to complete.  Some of the recommendations we implemented:

• We received 130 reviews and paid out more than $800 in coupons in our video game reviews campaign.
• We received just shy of 50 orders.
• At the request of our customers, we now accept Visa, MasterCard, AMEX, Discover, Diners Club, JCB, Amazon Payments, and PayPal.
• We added delivery, platform, region, and OS information to games, and added shipped from and delivery information to products.  (By the way, we currently offer Free International Shipping on all products.)
• We're attempting to make search more visible.
• We implemented instant game key delivery.
• We added several additional categories including an apparel category.
• And much more...

We are making daily updates to Satoshi Direct and hope we're creating something valuable for the community.  Please shoot us any feedback that would win your business and make you a loyal customer of Satoshi Direct.

Thank you so much for your support!