A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson

BitcoinStore , an online electronics mega-store that deals exclusively in bitcoins went live this week. It's not the first company to trade electronics for bitcoins; BitElectronics opened just a couple of weeks ago. But BitcoinStore is doing it at cutthroat prices on an inventory of 500,000 items, ranging from laptops to motion sensors to binoculars. Company representatives claim that by not having to pay credit card fees, they will be able to keep prices 1 to 10 percent lower than the top competitors. And by doing so, they are hoping the company will be so successful that it eventually fails. You see, profit is not the main goal of the project. Roger Ver, the founder of the site, launched it to serve as a high-level demonstration for companies like Amazon and NewEgg, a lesson in the benefits of Bitcoin. If any of these companies begin taking payments in Bitcoin, represent...

Full article: http://spectrum.ieee.org/tech-talk/computing/networks/bit...

Tweets

@SalixAlbaUK » 27 Mar '13, 9am
RT @Tuxavant: [link] If you love #bitcoin, support @Bitcoinstore. Need $750k in March sales. Lets do this! Help make bitcoin mainstream!
@Bitcoinstore » 07 Mar '13, 11pm
RT @Dave_Kaminsky: @BitcoinStore launches with the purpose of convincing major #ecommerce sites to accept #bitcoins [link]
@Brandazy76 » 07 Mar '13, 10am
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson: [link] #newegg
@Dave_Kaminsky » 06 Mar '13, 6pm
@BitcoinStore launches with the purpose of convincing major #ecommerce sites to accept #bitcoins [link]
@AfgProNet » 06 Mar '13, 5pm
Any early adopters of Bitcoin out there? A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link]
@CHALLNGEACCPTD » 06 Mar '13, 5pm
RT @AnonymousPress: A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link]
@tallbonez » 05 Mar '13, 3pm
@jpokeefe [link] You can also buy pizza through another site. Sure we'll see more as states pass Amazon taxes
@vaisteprod » 05 Mar '13, 10am
[link] mainittu IEEE Spectrumissa. Jeah!... [link]
@dangents » 05 Mar '13, 6am
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link] ... right after #btc hit an all-time high.
@tylorslinger » 05 Mar '13, 12am
Amazon who's yo daddy! RT @BitCoinReporter: Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link] #bitcoin
@e_book_news » 04 Mar '13, 8pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link] via @zite
@BitcoinRate » 04 Mar '13, 5pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A ...: The Bitcoin Store keeps prices down on its ... [link]
@edmillard » 04 Mar '13, 5pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link] Undercutting prices, no credit card fees
@BitCoinReporter » 04 Mar '13, 5pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson - IEEE Spectrum [link] #bitcoin
@ianatmars » 04 Mar '13, 5pm
Bitcoin vendors do it for less! [link] #bitcoin
@Tuxavant » 04 Mar '13, 4pm
[link] If you love #bitcoin, support @Bitcoinstore. Need $750k in March sales. Lets do this! Help make bitcoin mainstream!
@kmbrlynn » 04 Mar '13, 3pm
these guys are stilllll trying, huh? MT @IEEESpectrum: A New Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link]
@xvdr » 04 Mar '13, 3pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link] #tech
@IEEEGreen » 04 Mar '13, 3pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link] #IEEE #IEEEGreen
@MyDummyrss » 04 Mar '13, 3pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson: The Bitcoin Store keeps prices down on i... [link]
@EDANews » 04 Mar '13, 3pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link]
@waspoza » 04 Mar '13, 3pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link] #bitcoin
@electrosoftinc » 04 Mar '13, 3pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson [link]
@wkenneth » 04 Mar '13, 3pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson: The Bitcoin Store keeps prices down on i... [link]
@IEEESpectrum » 04 Mar '13, 3pm
A New Large-scale Bitcoin Merchant Sets Out to Teach Amazon A Lesson: The Bitcoin Store keeps prices down on i... [link]