It’s that time again: Black Friday. This day usually portrays the American consumer feeding in useless items that they do not even need. There have been many videos over the past few years depicting these customers fighting each other, screaming for the latest junk and waiting in long line-ups when they could be at home with their family.
Although corporations have been lambasted for opening on Thanksgiving to address consumer demand ahead of Black Friday, no one is forcing anybody to shop on any of these days. Whatever the case may be, to each his own; can anyone miss a good deal on a wristwatch at Wal-Mart at 6 a.m.?
Good news for those who are avid bitcoin users. There will be plenty of Black Friday deals. The bitcoin community is preparing for sales from more than 200 participating retailers. BitcoinBlackFriday.com has listed the many companies that are offering exclusive deals for bitcoin owners – the goal is to have about 500 retailers.
The deals offer something for everyone: airline ticket discounts, free shipping for gold and silver purchases, up to 50 percent off web hosting, gift card purchases to Amazon, Kmart, Gap and others and many more. As of late, some venues have begun accepting bitcoins, such as EVR bar and lounge in New York, which allows bitcoins for food and drinks. It will have a buy one drink and get one free deal and half-price bottles of beer.
This Friday will mark the second anniversary of Bitcoin Friday. Last year’s event took place one week prior to Thanksgiving and only 75 retailers participated in the event. Also, more bitcoin users are expected to take part in Bitcoin Friday this year compared to last year.
Bitcoin is gaining popularity and in value – it’s currently trading at just under $850 – but experts say Congress could pass legislation that would make bitcoin valueless and much less useful. The response Holmes Wilson, co-founder of Internet activist group Fight for the Future, says is to make it as popular as possible and quick.
The reason why Washington could take action is that bitcoin can be used in the black market in order to avoid paying taxes or to purchase illegal items, like drugs.
Despite the momentum bitcoin has gained online and in some restaurants, it isn’t expected that brick and mortar companies and mom and pop shops will accept bitcoin as a form of payment any time soon. However, it could states that have unstable political systems, weak banking systems and corrupt governments that seize the people’s money.