If you're a member, you already know that in this half million in sales, there are likely to be a very large number of people who were misinformed/flat out duped into purchases of inferior Bitcoin mining equipment by Tiger Direct. While the equipment shown/sold on their Bitcoin page CAN be used to mine Bitcoin, it's far better put to use in other ways as we discuss with our members.
On Thursday, January 23, 2014, Tiger Direct announced they would start accepting bitcoin as an alternative payment method. While Tiger Direct isn’t the first major online retailer to start accepting bitcoins, they are the first major online electronics retailer to do so.
The Tiger Direct website offers over 200,000 products and is a popular shopping destination for PC users. According to Steven Leeds, the marketing chief at Tiger Direct, “With individuals building their own high-powered PCs with parts offered on our site to mine Bitcoins, it’s a logical fit.”
Tiger Direct has already started utilizing this acceptance as an opportunity to market their Bitcoin mining catalog. Tiger Direct has also partnered with AMD in order to offer a variety of mining-friendly graphic cards.
Since their Thursday announcement, Tiger Direct has processed more than $500,000 in Bitcoin payments. These total was spent on over 2500 separate orders. According to Tiger Direct, $250,000 of that was processed in the first 17 hours following their announcement. Overall, the company processes approximately $2 billion in purchases each year.
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