It looks like both Tigerdirect and Overstock are able to pass on cost savings to consumers!

It sort of reminds me of the coinbase bitpay difference too, with one being a flat rate and the other as 1%

Tigerdirect will be giving $20 vouchers while Overstock will give 1% points



TigerDirect Offers $20 Discount for Bitcoin Shoppers

| Published on February 20, 2014 at 15:32 GMT | Merchants

The ‘PC Parts Week’ discount applies to bitcoin orders over $100. Users fitting the requirements will get $20 off their order.

The deal is sponsored by chip-makers Intel and AMD, memory outfits SanDisk and Kingston, add-in-board partner PNY, and TRENDnet.

The offer went live yesterday, February 19th, and it will remain valid through to February 26th. It is limited to one offer per customer and the discount will be applied at checkout.

Over in Britain, meanwhile, Scan Computers also recently started taking bitcoin via BitPay.

Scan executive James Gorbold said the company is also looking into other alternative currencies, such as litecoin. Scan is offers custom frames for GPU miners, so it only makes sense that it would consider scrypt-based altcoins for payments.

Like TigerDirect, Scan uses BitPay to handle payments.

Also hoping to rake in some virtual currency, Aria PC Technology, another UK component supplier and e-tailer, started accepting bitcoin just last week.


Overstock to Launch New Rewards Scheme for Bitcoin Buyers

(@pete_rizzo_) | Published on February 12, 2014 at 17:02 GMT | Companies, Merchants, News

Online outlet store Overstock.com is to launch a special rewards program that will give bitcoin buyers 1% back in the form of Club O dollars, the company’s in-house rewards points.

Speaking to CoinDesk, Overstock CEO Patrick Byrne said the scheme is expected to debut in approximately four weeks, although he did not commit to a definitive timeline.

The program will not provide an instant discount on orders, but will instead give 1% of the total purchase value back to buyers to be applied to future purchases. Byrne did not provide further details of how the program would work, or whether it will be able to be used in conjunction with other company rewards schemes.

Gender shift

Byrne said he continues to be surprised by number of purchases bitcoin users are making on the site. He indicated that bitcoin buyers are 80-85% male, whereas the average customer base generally is 60% female. The figures suggest bitcoin has opened up a new audience for the company.

Addressing the findings, Byrne said:

“We expected a move to computers, electronics and the kinds of things that the geeks who know about bitcoin would be likely to come and buy. Turns out there’s been very little shift like that.”

Instead, the top purchases via bitcoin to date have been furniture, desks and clothing – items that are not as accessible to bitcoin users through other merchants.

Overstock does nearly $1 million in Bitcoin sales in first month


On February 21, 2014, 12:30 PM


Overstock CEO Patrick Byrne is no stranger to being an early adopter of technology. He was among the first to purchase to one of Tesla’s Model S electric cards five years ago and apparently, some things never change. As you may recall, Byrne’s company recently became the first major online retailer to accept Bitcoins.

So, how’s that working out for them thus far? Pretty good, actually.

According to Byrne, the site processed $870,000 in sales from almost 4,000 orders paid with Bitcoin. Strangely enough, the most popular item among virtual currency aficionados is bed sheets followed by computer hardware and mobile phone accessories.

But Byrne’s interest in Bitcoin extends well past an extra payment method for Overstock. The CEO liquidated several million dollars worth of his holdings in gold and converted it to Bitcoin. He said he ultimately wants to be able to pay vendors and employees in Bitcoin too if they choose. But why is he doing all of this?

Because he wants to further the cause of Bitcoin, plain and simple.


[–]OverkillTASF 11 points ago

I just bought my first thing from Overstock with Bitcoin… It took 23 minutes for the payment window to confirm that I had payed. It kept timing out and asking me to try again. “Sorry, the balance at this address is still 0.00 BTC”. I had the first confirmation in about 5 minutes I think.

Congratulations to Coinbase for snagging this contract, but this was a really crappy first showing for me. Wife laughed at me, trying to show off Bitcoin… “And I just snap a picture with my phone and… wait… wait…” [30 seconds later] “Hmmm… let me just check Blockchain.info…” [5 minutes later] “Well maybe they’re waiting for 3 confirmations…”.

Overstock customer service was quick to respond, but at the ~25 minute mark, Coinbase finally reported me as paid and my order went through.

[–]PaulyDoge 23 points ago

lesson learned.. never try to impress the wife with new technology.. this is as old as fire..

[–]grant-olson 2 points ago

I’ve placed multiple orders, and payment was confirmed as soon as the transaction hit the network. Didn’t even need a single confirmation. Were you using one of those online wallets that batches up transactions and doesn’t send them out instantly? This sounds like one of those “sent coins from Exchange X” problems.

[–]TheVapeApe 1 point ago

I’ve ordered twice from them and both times it was instant but I have a Coinbase account so I’m sure that helps. It even asks me for two factor authentication since I have that enabled at Coinbase. Pretty cool! Never used Overstock for anything before this but now I always check them first to see if they have what I want.

[–]quittingislegitimate 7 points ago

You mean 1605.21 bitcoins in business.

[–]ericools 14 points ago

Bitcoins market cap is not that big.

Overstock.com Revenue in 2013: $1,304,217,000 Source: http://www.overstock.com/about

USD M1 $2,311,000,000,000 Source: http://www.coinometrics.com/bitcoin/bmix

Bitcoin Market Cap $7,595,978,301 Source: http://www.coinometrics.com/bitcoin/bmix

Last Years Overstock Sales as a percentage of USD M1 = .06% Overstock Bitcoin Sales as a percentage of Bitcoin Market Cap = .16% (x12 since we only have one months sales data)

Looks pretty damn good to me.
You also should consider that a large portion of BTC market cap is probably lost coins and that of the portion that is not much of it is in long term cold storage while with USD the money sitting in banks for the long term is made up for many times over by the fact that banks loan out much more money than they actually have. Many USD purchases represent the spending of money that has not yet been earned.

Also note that Overstock sales numbers probably include sales from outside the US and make the USD percentage larger than it should be.

edit: Overstock is also not likely to be the biggest in terms of bitocoin sales. It’s pretty likely Tiger Direct is quite a bit larger.