Bitcoin Could Be Black Friday’s Biggest Winner

In this photo illustration, a customer pays for drinks at the Old Fitzroy Pub using bitcoins on September 19, 2013 in Sydney, Australia. The Old Fitzroy pub in Sydney's eastern suburbs will accept the digital currency, Bitcoin, as of Next Sunday. Using a smartphone and a QR code scanning application customers will be able to purchase beer and menu items at the bar. The Old Fitzroy is the first Australian pub to accept Bitcoin payment.
National Journal
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Laura Ryan
Nov. 27, 2013, 7:45 a.m.

Bit­coin’s as­cend­ancy is set to con­tin­ue over the Thanks­giv­ing hol­i­day, with boost­ers us­ing the Black Fri­day shop­ping stam­pede to pro­mote the di­git­al cur­rency at hun­dreds of par­ti­cip­at­ing vendors.

On­line act­iv­ists and re­tail­ers are team­ing up to host Bit­coin Black Fri­day, with more than 250 con­firmed par­ti­cipants—such as Red­dit, OK Cu­pid, and—of­fer­ing deals to Bit­coin users.

“Bit­coin is a great tool for mer­chants at every level. Be­cause it is de­cent­ral­ized (mak­ing it nearly free to send and re­ceive money), the deals mer­chants can of­fer are a lot lower than any deals they’ve been able to of­fer be­fore,” said Jon Holm­quist, a Bit­coin evan­gel­ist help­ing to or­gan­ize the day’s rush of Bit­coin spend­ing op­por­tun­it­ies.

Bit­coin has en­joyed a boom in pop­ular­ity this month. It earned plaudits dur­ing Sen­ate hear­ings last week and passed the $1,000 mark for the first time today, ac­cord­ing to Mt. Gox, Bit­coin’s biggest ex­change. The dif­fi­culty of tra­cing Bit­coin trans­ac­tions is one of the main reas­ons be­hind the di­git­al cur­rency’s pop­ular­ity but is also the source of the lead­ing con­cern: il­leg­al activ­ity on­line.

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