[ANN] BitcoinStore.com (Beta) - Electronics super store with over 500K items!

[giszmo]

I'm sure they will improve the site as fast as possible. Please don't give up - if there's something on another site, post a link, ask for help.

This store is a huge step towards not having to cash out into fiat. Let's support it as strongly as possible!

Well, the store in itself is no huge forward as it doesn't work. Maybe they should sell their stuff via Bitmit. Although Bitmit is all but transparent, the shopping experience is quite good atm.

[jwzguy]

I'm sure they will improve the site as fast as possible. Please don't give up - if there's something on another site, post a link, ask for help.

This store is a huge step towards not having to cash out into fiat. Let's support it as strongly as possible!

Well, the store in itself is no huge forward as it doesn't work. Maybe they should sell their stuff via Bitmit. Although Bitmit is all but transparent, the shopping experience is quite good atm.

Worked for me. One successful order down, will place another one tonight.

It may not be perfect, but having this huge selection available is great for us. A friend of mine saw my shirt today and said (rather arrogantly, I thought) "I looked into Bitcoin, but I don't think it will work out. You can't buy anything with it."

Last year I would have had to say "Of course you can, drugs, online poker chips, and vpn services!" Today I said "Good sir, you can buy hundreds of thousands of consumer electronics, computers/components, etc. Kindly check yourself."

We need to support these guys while they work on their site. Rome wasn't built in a day.

[giszmo]

We need to support these guys while they work on their site. Rome wasn't built in a day.

Sure, but they could also drive their traffic by offering their products via bitmit that most likely has more customers already than bitcoinstore.

[jwzguy]

We need to support these guys while they work on their site. Rome wasn't built in a day.

Sure, but they could also drive their traffic by offering their products via bitmit that most likely has more customers already than bitcoinstore.

How are they supposed to fix the problems with their site if they are busy adding 500,000 listings to Bitmit? Who is going to handle the checkout process? And who is going to pay Bitmit's fees?

If you know people shopping on Bitmit that aren't aware of the BitcoinStore - maybe refer them. I don't think what you're suggesting is remotely feasible.

[bigbox]

I searched for toasters, and none of the results have images. Most of the results don't list the brand and have very limited descriptions. Not many people are going to buy something that doesn't have any photo or description.

It would actually be really nice if there were a link to the same item on Amazon.com. That way I could read full reviews, see full descriptions, etc. I would still buy the item on BitcoinStore, even if Amazon were cheaper in a specific case.

I'm trying to start buying with Bitcoins whenever possible, so thanks for your work and I hope you meet your quota!

[julz]

Is the zendesk support system supposed to use the same login/pass as the main website?

I've been having trouble viewing my ticket - and password resetting doesn't work.

[Rygon]

For a store that claims to have more than 500,000 consumer electronics, I would have expected more selection in TVs. There are over 200 projectors for sale, but less than 70 televisions.

[Vbs]

Please add some nVidia GTX Titan models!

[BitcoinStore]

I searched for toasters, and none of the results have images. Most of the results don't list the brand and have very limited descriptions. Not many people are going to buy something that doesn't have any photo or description.

It would actually be really nice if there were a link to the same item on Amazon.com. That way I could read full reviews, see full descriptions, etc. I would still buy the item on BitcoinStore, even if Amazon were cheaper in a specific case.

I'm trying to start buying with Bitcoins whenever possible, so thanks for your work and I hope you meet your quota!

We're working on adding more images and better descriptions. I don't know if we can start sending our traffic to Amazon, but it's a nice idea!

[Isokivi]

I made an observation today when checking bitcoinstore as to the progress of the 850k run. It had moved back about 6k$ between refreshes, dont know what to make of it, but I tought I should mention it.

[DannyHamilton]

I made an observation today when checking bitcoinstore as to the progress of the 850k run. It had moved back about 6k$ between refreshes, dont know what to make of it, but I tought I should mention it.

I suspect this has to do with the retreat of the exchange rate from a high today of $78 to the low today of $71.90.  I suspect that BitcoinStore is keeping all their revenue in bitcoin and displaying that indicator based on the current exchange rate.

[justusranvier]

I suspect this has to do with the retreat of the exchange rate from a high today of $78 to the low today of $71.90.  I suspect that BitcoinStore is keeping all their revenue in bitcoin and displaying that indicator based on the current exchange rate.

That will be interesting when it comes time to sell all that revenue to pay their supplier.

[DannyHamilton]

That will be interesting when it comes time to sell all that revenue to pay their supplier.

If I had to guess, I'd say that they'll pay their supplier with cash from an investor or a loan.  Then they'll liquidate the BTC slowly over time, perhaps using off-exchange services such as "fastcash4bitcoins.com". Their employees will probably take a significant portion of their income in the form of bitcoin.  I wouldn't expect them to try to dump the entire bitcoin balance on MtGox in one day.

[BIGMERVE]

That will be interesting when it comes time to sell all that revenue to pay their supplier.

If I had to guess, I'd say that they'll pay their supplier with cash from an investor or a loan.  Then they'll liquidate the BTC slowly over time, perhaps using off-exchange services such as "fastcash4bitcoins.com". Their employees will probably take a significant portion of their income in the form of bitcoin.  I wouldn't expect them to try to dump the entire bitcoin balance on MtGox in one day.

I don't think they keep all their cash in bitcoins. It'd be too risky if the price dropped they'd loose a significant amount of money. They probably pay all their bills and some of their employees in fiat so they always need it on hand.

[justusranvier]

Depending on how speculative they want to get BitcoinStore could start selling below nominal cost, hold 100% of revenue in BTC, and relying on the increase in the exchange rate to cover their costs.

It would work as long as the exchange rate does go up over the interval they are capable of floating based on their dollar reserves.

[DannyHamilton]

I don't think they keep all their cash in bitcoins. It'd be too risky if the price dropped they'd loose a significant amount of money. They probably pay all their bills and some of their employees in fiat so they always need it on hand.

You are talking about a group of people who have so much faith in bitcoin that they've invested heavily into creating a significant online store that accepts ONLY bitcoin as payment.  Think again:

Will you guys update us with sales milestones so we can see how much more you need to reach 800k?

You can track our progress here:  http://blockchain.info/address/1JqjoFF8QZwidrTbfnihGHDeu16pbLia1q

That is the payout address for all the orders that come through Bitcoinstore.com

Please help us ready $850K USD by the end of next month!

[MemoryDealers]

I don't think they keep all their cash in bitcoins. It'd be too risky if the price dropped they'd loose a significant amount of money. They probably pay all their bills and some of their employees in fiat so they always need it on hand.

You are talking about a group of people who have so much faith in bitcoin that they've invested heavily into creating a significant online store that accepts ONLY bitcoin as payment.  Think again:

Danny is exactly right.
I have no intention of converting my Bitcoins for USD.


Lots more big improvements to the stie will be coming soon too.

[Isokivi]

Danny is exactly right.
I have no intention of converting my Bitcoins for USD.

I fear you may of have travelled too far back in time. Dont get me wrong I personally love this, but we are still quite some time away from your suppliers accepting bitcoin, correct ?

[MemoryDealers]

Danny is exactly right.
I have no intention of converting my Bitcoins for USD.

I fear you may of have travelled too far back in time. Dont get me wrong I personally love this, but we are still quite some time away from your suppliers accepting bitcoin, correct ?

The current supplier for Bitcoinstore.com doesn't accept Bitcoins yet,  but I intend to try to change that.

[Dusty]

The current supplier for Bitcoinstore.com doesn't accept Bitcoins yet,  but I intend to try to change that.

I think that would be greatest achievement of your work :-)