Now in its third year, “Bitcoin Black Friday” is an online shopping event, but one with a different flavor than Cyber Monday. Smaller merchants—and a handful of larger, well-known names that accept the digital currency—are offering special pricing on goods and services, which (in some cases) will beat the best deals of traditional retailers.
First came Cyber Monday, a second bite at the apple from online retailers. Then there was the slow creep into Thanksgiving Day. Two years ago Bitcoin Black Friday made its debut, and it’s a holiday tradition that’s quickly gaining ground.
Though retailers have begun to warm to bitcoin, however, adult entertainment companies have resisted accepting the virtual currency—even as revenues at many studios have plunged in recent years.
Just as a pickpocket or mugger can rob you on the street, so a hacker can swipe your virtual money. And it can be much more difficult to recover stolen virtual cash than legal tender.
While the digital currency has been around since 2009, it has largely stayed in the background—occasionally jumping onto people’s radars, but usually fading away just as fast.
The digital currency has been around for nearly two years now, but it burst onto the radar of the mainstream world in June, when Gawker published a story about an underground Website where you could trade the currency for illegal drugs. The chatter surrounding the story eventually faded, but a lot of people were left confused about bitcoins. What are they? How do they operate? And what, aside from illegal narcotics, can they be used for?