Bitcoin Black Friday - Episode 4: A New Hope

[OrientA]

The net affect of Black Friday on the price of Bitcoin will be this :

The hoarders will release some coins to buy some of these items and the merchants will dump it via payment processors on exchanges to convert it to fiat. The supply of Bitcoin will increase and the need will be the same. This will push the price downwards.

After Black Friday, we will see a significant price drop. My guess would be at least $50 - $80.

At present, most retailers will sell their accepted bitcoin straight away through Bitpay or Coinbase. That has the effect of dumping by holders if the bitcoin spenders do not buy the spent coin through exchanges. When the spender buy from exchanges, there will be fee involved. So it is expensive for the holders. It is better if we are paid with bitcoin.

[Sampey]

I've submitted a Deal for my BOT : https://bitcointalk.org/index.php?topic=507103.0
It is ok with the Term Of Service?

Thanks 

[JonHolmquist]

I've submitted a Deal for my BOT : https://bitcointalk.org/index.php?topic=507103.0
It is ok with the Term Of Service?

Thanks 

Looks like you have happy customers so no, no problem with that deal.

[Sampey]

I've submitted a Deal for my BOT : https://bitcointalk.org/index.php?topic=507103.0
It is ok with the Term Of Service?

Thanks 

Looks like you have happy customers so no, no problem with that deal.

Thank you 

[crazyivan]

Nice, I ve been saving lots of my BTC purchases for this day. I hope we ll get really great discounts this year.

[pawel7777]

Is this in any way related to bitcoinblackfriday.info? Or are these 2 totally independent projects with different merchants/offers?

[neurotypical]

I am doing everything I can to not give in to temptations of buying anything with my Bitcoin until I feel happy with my stash. If the offer is good enough I may reconsider this tho... but not until merchants stop dumping it for fiat.

[Bees Brothers]

I can't believe it is that time of year again!
We will be submitting our "deal" later tonight or tomorrow.

Bitcoin Black Friday is one of our busiest weekends of the year.

We also enjoy splurging ourselves and taking advantage of some of the deals and supporting other bitcoin merchants.

Thanks Jon for organizing this each year.

[TheButterZone]

I am doing everything I can to not give in to temptations of buying anything with my Bitcoin until I feel happy with my stash. If the offer is good enough I may reconsider this tho... but not until merchants stop dumping it for fiat.

I have two conundrums:
1, is how do you certify that you will not dump your BTC for fiat (at least not immediately, maybe only in small bursts after we're back to ATH)? Customers should not presume that just because they don't go through a Bitpay or Coinbase checkout that there won't be an immediate fiat dump.
2, is what offer could I actually put out for my store? I don't have a wide variety of digital goods for sale nor an instant distribution channel, everything costs random prices to ship, and I only ship to US domestic. If I put out a "10% off x" deal, I suppose that would be the minimum of what's considered "generous", but with BTC tanking more than rallying, I'd have to wait even longer to recoup that loss. If I put out a "buy at least $100 and get any item $5 or less free" that item might jump the shipping cost, so I'd have to say that the free item doesn't get free shipping. I could have a drawing for one customer to win something or other in addition to their purchase, but what would that something be?

[JonHolmquist]

I can't believe it is that time of year again!
We will be submitting our "deal" later tonight or tomorrow.

Bitcoin Black Friday is one of our busiest weekends of the year.

We also enjoy splurging ourselves and taking advantage of some of the deals and supporting other bitcoin merchants.

Thanks Jon for organizing this each year.

Great to have you guys on board!

[emelac]

I am doing everything I can to not give in to temptations of buying anything with my Bitcoin until I feel happy with my stash. If the offer is good enough I may reconsider this tho... but not until merchants stop dumping it for fiat.

I have two conundrums:
1, is how do you certify that you will not dump your BTC for fiat (at least not immediately, maybe only in small bursts after we're back to ATH)? Customers should not presume that just because they don't go through a Bitpay or Coinbase checkout that there won't be an immediate fiat dump.
........

Bitpay said Bitcoin Black Fridays are one of their busiest times of the year. That suggests a big share of merchants go through bitpay, who probably immediately sell their bitcoins through OTC sales. Do the OTC buyers then dump them on exchanges? If the price started dropping because of the merchants who don't go through bitpay dumping the bitpay merchants would lose profit if they didn't sell.

https://blog.bitpay.com/announcing-bitcoin-black-friday-deals/

Last year's Bitcoin Black Friday sales surpassed expectations and highlighted the growth of bitcoin. This year, with so many more merchants now accepting bitcoin, we expect Bitcoin Black Friday to be even more successful.

[pawel7777]

Signed up to the mailing list.

Always wondered, how do you verify whether merchants are legit businesses or frauds? Do you only accept offers from established, known businesses, or do you accept any offers?

[JonHolmquist]

Signed up to the mailing list.

Always wondered, how do you verify whether merchants are legit businesses or frauds? Do you only accept offers from established, known businesses, or do you accept any offers?

Generally businesses will have reviews associated with them. I also have done a lot of BTC shopping so I have a good idea who the legit merchants are at this point.

Past that, things to look for: real identity tied to shop, actual domain name, more than a single product, possibly funding, any press hits, and longevity.

[PAKYU]

Please answer this. I have same question.

Is this in any way related to bitcoinblackfriday.info? Or are these 2 totally independent projects with different merchants/offers?

[JonHolmquist]

Please answer this. I have same question.

Is this in any way related to bitcoinblackfriday.info? Or are these 2 totally independent projects with different merchants/offers?

Oh sorry, never responded.

They are not related. Some carpetbagger stole my name and is trying to cash in on the event this year. Competition is great but misleading consumers isn't.

We're the original site and have run the campaign for 4 years.

[pawel7777]

Please answer this. I have same question.

Is this in any way related to bitcoinblackfriday.info? Or are these 2 totally independent projects with different merchants/offers?

Oh sorry, never responded.

They are not related. Some carpetbagger stole my name and is trying to cash in on the event this year. Competition is great but misleading consumers isn't.

We're the original site and have run the campaign for 4 years.

Damn, competition is a good thing but hijacking the name like that is a bit dirty move. I signed up to ".info" first as I was of impression it's the same project as in the past years.

They even started signature campaign: https://bitcointalk.org/index.php?topic=1253069.0  

Edit:

Ps. I've put your url in my personal text, wasn't using it anyway.
Ps2:

I no longer work at Ripple Labs. Theymos won't let me change my avatar though

I think everyone is free to change avatars since some time now.

[peter378]

I apologize for going off topic, but why don't you work at Ripple Labs anymore? Did you choose to leave, or are they making people redundant? Ripple's been crashing in price and I was wondering what the reason for it is, and if any insiders are Allowed to discuss it, or if they have non-disclosure agreements.

[JonHolmquist]

I apologize for going off topic, but why don't you work at Ripple Labs anymore? Did you choose to leave, or are they making people redundant? Ripple's been crashing in price and I was wondering what the reason for it is, and if any insiders are Allowed to discuss it, or if they have non-disclosure agreements.

I left Ripple Labs a loooong time ago.

I was a full time student so it was difficult to juggle. Left to focus on my studies. Would love to work with them again.

[JonHolmquist]

It's easy to succumb into the consumist temptation specially when we are getting closer to xmas.. but I will also stay true to my plan and that's to make as much BTC possible during this year which involves not selling any.

Or just top off your wallet with whatever amount you buy, skip spending dollars for the holiday.

[JonHolmquist]

2 days until Black Friday hits!