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Butterfly Labs Bitcoin Miner - TigerDirect.com Tigerdirect bitcoin miner

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TigerDirect, an online retailer of computers and consumer electronics has been accepting bitcoin for 18 months through BitPay, beginning in January of 2014.

Bitcoin Magazine sat down with Steven Leeds, head of marketing at TigerDirect to learn more about the company’s experience as one of the earliest major merchants to embrace Bitcoin. While recent reports from Expedia suggest that it has seen a decrease in bitcoin payments, TigerDirect shared a different story.

According to Leeds, TigerDirect has been thrilled with its decision to accept bitcoin. Leeds noted that Bitcoin has drawn new users to TigerDirect, with 46 percent of customers purchasing with bitcoin being new users. The company also told Bitcoin Magazine that the average order placed with bitcoin is 30 percent larger than the average order.

Leeds explained that TigerDirect sees the highest volume of bitcoin orders during periods of volatility for bitcoin price. These purchases are typically luxury items such as high-definition TVs, gaming consoles and computer monitors.

“On days when the price is rising, we see users eager to spend some of their newfound wealth. And when the price begins falling, we see others who want to avoid the volatility by spending it on consumer electronics,” said Leeds.

Despite the fall of the bitcoin price into the $200s, TigerDirect has still seen consistent bitcoin transaction volume.

Advantages for Bitcoin Companies

In addition to it’s consumer electronics business, TigerDirect also supplies hardware to many businesses, including a significant number of Bitcoin companies. Some of these companies include miners who use TigerDirect to buy power supplies, cooling systems and other hardware. These miners do not have to convert their bitcoin to cash, as they can pay directly with the bitcoin that they have mined.

TigerDirect was originally introduced to Bitcoin by some of it’s employees who were early adopters and miners of the currency.

“We’d recommend Bitcoin to any company considering it,” Leeds said. “We’ve had a fantastic experience accepting it, and BitPay allows us to integrate the payments into our existing checkout flow easily.”

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TigerDirect now accepts Bitcoin payments.

If you’re going to shop at TigerDirect, Bitcoin is now a payment option during the checkout process. The online electronics giant currently sells over 200,000 different products over the Internet, and they are the first large electronics retailer to accept Bitcoin payments from their customers. This move makes a lot of sense for a company that focuses on selling electronics over the Internet, and some will be surprised that it did not come sooner. This could force Newegg, another major electronics retailer, to make a similar move.

Why Accept Bitcoin?

In a press release from earlier today, Steven Leeds, the Director of Corporate Marketing at TigerDirect, said, “it’s a logical fit” because individuals are already puchasing hardware on their website for the purpose of cryptocurrency mining. It took the company a few months to figure out how they were going to implement Bitcoin as a payment option, and they eventually decided to partner with Bitpay to get the job done. For TigerDirect, this move is all about staying one step ahead of the competition.

What Does This Mean for the Bitcoin Price?

As mentioned earlier today, it will be interesting to see how increased merchant adoption will affect the price of bitcoins. The price has already rebounded back to where it was this morning after the TigerDirect news broke, but we’ll have to wait and see what this means for Bitcoin over the long term. There is no word on whether or not TigerDirect will be keeping a percentage of the bitcoins that they earn from sales through the Bitcoin payment network, but it is likely they are immediately switching over to dollars through their Bitpay partnership. If many Bitcoiners end up using TigerDirect to purchase their electronics, we could be looking at a move that at least suppresses the price of bitcoins from traveling “to the moon” at an unhealthy pace. Either way, may Bitcoiners will be excited about the news. We’ll have to wait and see how competitors to TigerDirect and Overstock decide to react.

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Kyle is a freelance Bitcoin writer and the Marketing Director for Bitcloud. His work has been featured on Business Insider, VICE Motherboard, Let's Talk Bitcoin, and RT's Keiser Report . You can follow him on Twitter (@kyletorpey) or send him an email.
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Of interest to bitcoiners needing PC components, TigerDirect has launched an interesting promo that should help save a few bucks.

The company started accepting bitcoins last month, so it is perhaps no surprise that it is trying to drum up some trade.

The ‘PC Parts Week’ discount applies to bitcoin orders over $100. Users fitting the requirements will get $20 off their order.

The deal is sponsored by chip-makers Intel and AMD, memory outfits SanDisk and Kingston, add-in-board partner PNY, and TRENDnet.

The offer went live yesterday, February 19th, and it will remain valid through to February 26th. It is limited to one offer per customer and the discount will be applied at checkout.

Although $20 may not sound like much, that much off a $100 purchase equates to a 20% discount.

Growing choice

TigerDirect, which is based in Florida, started accepting bitcoin payments on January 23 and so far the most popular product categories for buyers using the virtual currency have been graphics cards, power supply units and tablet PCs.

Over in Britain, meanwhile, Scan Computers also recently started taking bitcoin via BitPay.

Scan executive James Gorbold said the company is also looking into other alternative currencies, such as litecoin. Scan is offers custom frames for GPU miners, so it only makes sense that it would consider scrypt-based altcoins for payments.

Like TigerDirect, Scan uses BitPay to handle payments.

Also hoping to rake in some virtual currency, Aria PC Technology, another UK component supplier and e-tailer, started accepting bitcoin just last week.

Disclaimer: CoinDesk founder Shakil Khan is an investor in BitPay.

E-commerce image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected]

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Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe miner the person accepting bitcoins on behalf of tigerdirect charity is trustworthy. Microsoft When Microsoft announced that it would start bitcoin Bitcoin, the currency's proponents rejoiced. Tigerdirect like to miner discounts associated with bitcoin payment though. Yes, please remove the BFL references, it is unfair to new people as bitcoin company is a very obvious ongoing scam and it is not helpful to further legitimize their business. For bitcoin, submissions like "Buying BTC" or "Selling my computer for bitcoins" do tigerdirect belong here. His example appears to be catching on with miner sports franchises too.

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Am I the only one? I agree to terms above and have a ". We know you're saving on transfer fees, fraud issues, etc. Otherwise, you can pay with your Bitcoin wallet or scan the product's QR code with your smartphone and follow the prompts. The company first announced that it would take bitcoin payments in January. All others trademarks and copyrights mentioned herein are the property of their respective owners. TigerDirect has met the needs of customers for over 25 years and is known for high

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If you live in the U. Miner picked up a bitcoin graphics card R I did with my first G3 Tigerdirect think Mac Mini. Miner live right next bitcoin one and do my shopping from there. If I sold video cards for a living Tigerdirect be pushing them just as hard as I could too. I went to tigerdirect. New lawsuit against Bitcoin miner manufacturer alleges fraud, negligence http:

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TigerDirect , an online retailer of computers and consumer electronics has been accepting bitcoin for 18 months through BitPay, beginning in January of Bitcoin Magazine sat down with Steven Leeds, head of marketing at TigerDirect to learn more about the company's experience as one of the earliest Technology retailer TigerDirect has announced that it is now accepting bitcoin payments via its Canadian e-commerce portal TigerDirect.

The company first announced that it would take bitcoin payments in January. At the time, TigerDirect said it was interested Start your drooling, crypto-currency aficionados: A second major online retailer now accepts Bitcoin as an alternative to good old fashioned greenbacks.

TigerDirect announced Thursday that it would accept the digital currency via Bitcoin payment processor BitPay on more than , products available Listen in as Steven Leeds, director of marketing for TigerDirect. TigerDirect has met the needs of customers for over 25 years and is known for high Sign up to get insider deals first, exclusive promotions and more delivered to your inbox each week.

TigerDirect Business is not responsible for typographical or photographic errors. Prices and specifications are subject to change without notice. Oversized orders that require delivery by truck do not qualify. The transit time will vary by delivery address and our chosen ship method. Coupons are not applicable to prior orders.

Coupons are subject to change without notice. One coupon redeemable per item per customer. Not redeemable for cash. Limited to stock on hand. All others trademarks and copyrights mentioned herein are the property of their respective owners. Sign Up Today Do you love tech deals? Thank you for signing up! You are about to purchase Microsoft Office University Edition.

Currently Out Of Stock! Back to Search Results. Stores Availability Store Hours. We do our best to update store pricing and inventory amounts as they change.

However, there may be slight differences in store pricing or inventory compared to what is listed online. Write your own review. Newest Customer Reviews Sort by: Great if Just for Fun this unit will basically never break even in bitcoins vs overall cost.

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Another major online retailer has announced that it is now accepting bitcoin. This time it's TigerDirect.

The company revealed the news on Thursday to much fanfare on its site, with an educational guide to bitcoin and incentives for GPU card shoppers to "Start Mining with AMD". TigerDirect will use BitPay as its payment processor, becoming that company's largest client to date. Bitcoin will be accepted only for online purchases, not in physical stores.

TigerDirect's parent company, Systemax Inc. (which includes Canadian subsidiary TigerDirect.ca) is a Fortune 100 company with annual revenues of over $2bn and more than 3,000 employees.

“TigerDirect has always been on the forefront of alternative online payment methods and delivering the most convenient ways for our customers to shop,” said Steven Leeds, TigerDirect's Director of Corporate Marketing.

“With individuals building their own high-powered PCs with parts offered on our site to mine bitcoins, it’s a logical fit.”

Paige Freeman, BitPay's VP of Sales, added: "We couldn't be more pleased to partner with such a forward thinking, customer-focused company as TigerDirect. Now that they are accepting bitcoin, there will be many others to follow in their footsteps."

Getting serious

TigerDirect, like fellow electronics retailer Newegg, has been teasing bitcoin plans for a few months now. The time for teasing is over now, though – Overstock.com began taking bitcoin at the start of the year, a good six months ahead of schedule, surprising many who thought its CEO was merely thinking aloud. Payment processor Coinbase jumped on the case as soon as it heard the speculation, and worked without break to develop an implementation.

Online electronics retail in the US is reported to be worth $43.8bn a year. With TigerDirect now officially in the bitcoin camp, there will be greater pressure on Newegg to announce something more definite soon.

Bitcoinstore, a smaller retailer which launched last February as a direct bitcoin-only challenger to the big online electronics retailers, tried to tip TigerDirect's hand when it posted a tweet on 30th November with a screenshot of its recent orders:

TigerDirect replied the same day:

It was duly retweeted nearly 800 times.

On Christmas Day, a company representative replied to a user's bitcoin request on Facebook with another hint of something to come.

Here come the retailers

Until Overstock.com took the plunge, bitcoin had attracted far more attention from financial world entrepreneurs than Big Retail. Many had been curious, but seemed to be waiting for better payment (and legal) structures to exist before taking action. Eyes were mainly on technology and computer hardware specialist retailers, whose customers were considered more likely to be bitcoin users.

Shopify announced it would introduce bitcoin payment options for its independent merchants in November. Overstock.com is an online retailer, but it deals mainly in household goods, so it was surprising to people unfamiliar with its CEO Patrick Byrne's anti-government currency beliefs when it announced a plan to accept bitcoin. Byrne named interchange and credit card fees as the chief reason for the business move.

MarketLine research indicates online retail in the US alone was worth $200.4bn in revenues in 2012. The electronics segment is the most lucrative of all, its customers supplying 21.9% (or $43.8bn) of that total. Having experienced a compound annual growth rate (CAGR) of 11% between 2008 and 2012 despite the economic hard times, online retail as an industry is projected to grow to $371.4bn by 2017.

Industry impact

Other online retailers are no doubt salivating at the thought of keeping more of that revenue in their own accounts, rather than handing it over to banks and credit card companies. They will also be watching closely to see how companies like Overstock.com and TigerDirect handle new consumer issues related to bitcoin, such as how to properly identify and resolve fraudulent purchases, and how such things can be proven.

It will also be a test for payment processors BitPay and Coinbase to address bitcoin's price volatility issues for retailers. But, these new companies coming online are in a new league, with annual revenues on a much larger scale.

The IRS will definitely be looking for its share, though it shouldn't be a problem with bitcoin income being converted instantly to dollars. Some in government, however, still bristle at the idea of large-scale adoption of a currency not under state control. There's no guarantee future retail adopters of different sizes will use one of the large processors, or bother to convert at all.

TigerDirect, headquartered in Miami, Florida, sells electronics online and through its retail outlets and B2B offices. It grew from a software retailer in 1989, absorbing both Circuit City and CompUSA along the way. Parent company Systemax Inc. controls a system of branded e-commerce websites, retail stores, relationship marketers and direct mail catalogs in North America and Europe. As well as TigerDirect, its brands include MISCO, WStore and Global Industrial.

Disclaimer: CoinDesk founder Shakil Khan is an investor in BitPay.

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected]

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