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In an interview in 1999, Professor Milton Friedman, an American economist who received the award Nobel commemorative 1976 in economics for his research on the analysis of consumption, monetary history and theory, and the complexity of the stabilization policy, said the Internet would be a major force to reduce the role of the government.
The only thing missing but soon to be developed, Friedman said, was a reliable e-cash. Nearly 10 years after the introduction of bitcoin, cryptocurrency continues to be accepted as a form of payment.
As the price of bitcoin increases, the media pays more attention to it, raising awareness of its use both as an investment and as a convenient way to pay for goods and services. services. The convenience of receiving payments in seconds, with minimal transaction fees, provides significant benefits to a business. More retailers, both physical and online, accept bitcoin as a payment method from their customers.
Here is a list of major retailers that accept bitcoin.
Since 2013, Virgin Galactic, a commercial spaceflight company owned by entrepreneur Sir Richard Branson that includes companies such as Virgin Mobile and Virgin Airline, has accepted bitcoin for purchases.
Over the past three years, Branson, a longtime Bitcoin advocate, hosted the Blockchain Summit on his private island of Necker.
Overstock, an online retailer offering discounted merchandise, was the first online retailer to accept Bitcoins starting in January 2014. Overstock has partnered with Coinbase to allow customers to pay with bitcoin for all their purchases, TVs and laptops. pillows. The website has a "pay with bitcoin" option to make purchases.
In 2016, Overstock began trading its stock on its private block chain, tZERO.
In September 2017, the Overstock tZERO subsidiary announced a joint venture with Argon Group and RenGen LLC to launch the first ICO compliant SEC and FINRA compliant exchange.
TigerDirect, an online electronics retailer, became the second largest online retailer after Overstock to report more than $ 1 million in bitcoin sales in 2014. TigerDirect began accepting bitcoin payments in January 2014 using BitPay as payment provider.
The major Dish Network satellite television company began accepting Bitcoin payments in 2014 after some of its employees began investing in it. Dish Network used the Coinbase API to process Bitcoin payments.
Shortly after Dish Network, Expedia teamed up with Coinbase to set up the world's largest online travel booking agency. Like Dish Network, Expedia 's decision to accept Bitcoin was based in part on customer requests.
Expedia was not the first travel site accepting bitcoin. CheapAir.cm started allowing users to book hotels using bitcoin in 2013.
Since mid-2014, users have been able to make hotel bookings using the bitcoin Expedia payment option. The company currently only accepts bitcoins for hotel bookings, but it should extend to flight bookings and other activities.
Newegg, an online retailer, began accepting bitcoin in 2014. Like its competitor TigerDirect, Newegg is using the BitPay payment processor to immediately pay for bitcoin payments in fiat.
Newegg offered 10% discount to users who pay in bitcoin for a week in July 2014. The company also celebrated "Bitcoin Black Friday" with bitcoin transactions solely to highlight the superiority of bitcoin as a means of 39; exchange.
Microsoft added a feature allowing customers to use Bitcoin to add money to a Microsoft account in December 2014, using BitPay as a payment processor.
Microsoft users can use Bitcoin to purchase games, movies, and apps from Windows and Xbox stores, as well as from Microsoft's online stores.
eGifter, a mobile gift card application, allows users to purchase gift cards for different locations, such as Amazon, Sephora, Home Depot and Kohls. eGifter works with Coinbase as a bitcoin partner. Bitcoins are accepted for the purchase of gift cards for places that do not directly accept bitcoin.
Gyft, an online gift card retailer, allows customers to spend their bitcoins on gift cards at many major retailers. Whether it's iTunes for music, Starbucks for coffee, Target for groceries or Amazon for various products.
The platform also allows customers to store their gift cards on their phones rather than in their purses or wallets. When bitcoin users purchase gift cards via Gyft, they receive three percentage points on their account that can be redeemed for rewards.
Zynga, a leader in the monetization of the electronic game, began testing bitcoin with some of its games in 2014. Bitcoin allows frictionless microtransactions suited to such business models.
For online gamers, Zynga is associated with BitPay for bitcoin payments. Players can use bitcoin for in-app purchases.
Although Starbucks cashiers do not accept bitcoin, there are several ways to pay for purchases with bitcoin.
Since 2015, the Foldapp allows customers to use bitcoin to get a 20% discount by using the app to pay for their purchases at many Starbucks stores.
In 2016, iPayYou, the Seattle-based Bitcoin wallet, announced the launch of Bitcoin Direct at Starbucks, giving coffee lovers a new, easy way to pay with bitcoin. IPayYou users simply transfer bitcoin from their wallet to their Starbucks mobile app.
Subway franchises in Buenos Aires recently accept bitcoin for restaurant payments for their "Eat Fresh" products.
AutoPartsWay, a New York-based e-commerce retailer based in the United States and Canada, became the first online auto parts retailer to accept bitcoin payment in 2016. The company offers a wide selection of exterior, interior, AC, brake and other vehicle parts.
The use of bitcoin is rising due to many benefits, such as security, speed, low transaction costs, ease of storage and as a globally accepted payment method.
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