Bitcoin Black Friday 2014 Recap

[pawel7777]

From BitPay blog:

- Sales down 11% from last year, but [edit: this relates to 'traditional Black Friday']

- 82% increase in the number of merchants who completed transactions compared to last year’s BBF

I think the sales decrease is mostly due to lower BTC/USD price. During the last BBF bitcoin had its momentum.

More details here:

http://blog.bitpay.com/2014/12/09/bitcoin-black-friday-2014-recap.html

This year we saw an 82% increase in the number of merchants who completed transactions compared to last year’s BBF. While last year many of the discounts and deals were for bitcoin related technology, like bitcoin mining equipment, this year a broader range of retailers were offering bitcoin-specific deals on a wider array of items.

From 2013 to 2014 we witnessed a shift in spending patterns. Last year a large portion of the transactions were for bitcoin mining equipment, while this year we saw more spending on traditional ecommerce merchandise. Both Gyft and NewEgg experienced their best day of bitcoin sales ever. Gyft had 62% more transactions this BBF than last year, while increasing the value of purchases by 139%. NewEgg set personal records for total dollar value of purchases, as well as number of transactions. Amagi Metals also had their highest amount of bitcoin orders in one day. Other merchants with notable volume on Black Friday include: TigerDirect, Adafruit and Namecheap.

With traditional Black Friday sales down 11% from last year, it’s it’s important to recognize that bitcoin is being used for a variety of traditional products and services now. This Bitcoin Black Friday may signify a move forward and toward mainstream acceptance of bitcoin.

[bitllionaire]

price has not helped,if the price had been higher sales would have been pretty higher.

I hope next year we can see a huge amount of offers and a huge amount of buyers 

[keithers]

price has not helped,if the price had been higher sales would have been pretty higher.

I hope next year we can see a huge amount of offers and a huge amount of buyers 

I am not sure how much retail numbers depend on the price per BTC, because it could go either way.  Spending BTC while the price is low, allows you to re-up your BTC for a cheaper price.   I think that it really depends on the dollar cost average of where each individual bought their BTC..

[dsly]

I think the best deal for this black friday was with Trezor . It was up for a great discount then.

[1Referee]

price has not helped,if the price had been higher sales would have been pretty higher.

I hope next year we can see a huge amount of offers and a huge amount of buyers  

I am not sure how much retail numbers depend on the price per BTC, because it could go either way.  Spending BTC while the price is low, allows you to re-up your BTC for a cheaper price.  

Yeah, but not everyone is looking at it from that perspective.

People aren't that keen on spending their Bitcoins when it holds a relatively "low" USD value.

They shouldn't worry about it, but they do.

These guys most likely hold their coin as investment, and are only willing to purchase stuff once Bitcoin reaches a high rate.

[junglemouse]

Personally I was disappointed with the lack of bitcoin related sales on black friday/cyber monday. Namecheap had some good deals but that was all I came across. 

[pawel7777]

Spending BTC while the price is low, allows you to re-up your BTC for a cheaper price.

How exactly would that work? I'm missing something here.

These guys most likely hold their coin as investment, and are only willing to purchase stuff once Bitcoin reaches a high rate.

I reckon, for many people, especially those who are not registered at any BTC/fiat exchange, buying stuff with bitcoins is equivalent of cashing out (selling for fiat).

And it make sense, if you're keen to sell your BTC at current rate and you also need new pants, it's better to buy those directly with BTC.

[Amph]

Spending BTC while the price is low, allows you to re-up your BTC for a cheaper price.

How exactly would that work? I'm missing something here.

he is talking about the whole dumping thing when you spen btc, but this mean that someone is buying also, if those who sell do not rebuy and no new comers arrive to buy again then yes you can do that trick

[teukon]

The 11% figure relates to the ordinary Black Friday and is nothing to do with Bitcoin at all.

[pawel7777]

The 11% figure relates to the ordinary Black Friday and is nothing to do with Bitcoin at all.

Damn, you're right. Somehow I missed the word "traditional".
I edited the OP.