Before Bitcoin was a movement, it was a digital currency. While the store of value aspect of Bitcoin is often highlighted, the permissionless payments side often doesn’t get the attention it deserves. In 2012, Jon Holmquist adopted the Black Friday holiday to help Bitcoiners show off the benefits of their favorite technology, launch BitcoinBlackFriday.com, and hack a mainstream cultural moment into a tool for Bitcoin adoption.
Over the past few years, thousands of merchants have participated in Bitcoin Black Friday, offering special discounts for those willing to pay in BTC. P2P marketplaces have enabled bitcoin discounts on normal purchases, and BTC payment processors have referred customers to extensive directories of bitcoin-friendly offers. In 2013, the vacation became an opportunity to help children affected by a major typhoon in the Philippines. That same year, BitPay announced that it had completed a record-breaking 55,288 Bitcoin merchant transactions in November thanks to the holiday.
However, the celebration took place in 2017 when the use of Bitcoin as a payment instrument clashed with the wider community debate about block sizes and transaction speeds in the chain. Since then, great advances in scaling and payment have been made, such as the development of the Lightning Network and the development of new payment card and processing solutions.
In light of this advancement, we at Bitcoin Magazine decided to rephrase the narrative about Bitcoin payments and remind the world that Bitcoin is an incredible tool for trading and the inevitable currency of choice for the internet. By bringing back Bitcoin Black Friday, we are encouraging consumers and retailers to transact in BTC and build on the Bitcoin circular economy. This is an important step towards hyperbitcoinization and helps create the free and open value system we all deserve. It’s also a great opportunity to interact with some of the new open source tools and features available for Bitcoin, as well as the many companies that form the foundation of the Bitcoin economy.
Bitcoin Black Friday 2020 is the chance to fuel the adoption of BTC among both users and merchants, make Bitcoin a real medium of exchange for more mundane people, and demonstrate the humble beginnings of this fledgling technology. It’s also an exciting reminder of how much cool bitcoin swag is on sale every day, from the hardware wallets and nodes that form the backbone of the Bitcoin network to the unique works of art and literature that made up this Cultural Revolution to celebrate. Let us be sure to support these great creators and creators.
You can participate in Bitcoin Black Friday 2020 by:
- Stay tuned with BitcoinBlackFriday.com for informative content and the best ecommerce deals only for Bitcoin
- Follow @BTC_BlackFriday on Twitter for new updates and use the hashtag #BitcoinBlackFriday
- Convince your favorite merchants to take advantage of BTC payments and list special Bitcoin Black Friday offers just for BTC
- Contact us so we can introduce your favorite Bitcoin products, list your Bitcoin Black Friday discounts, show you how to accept BTC payments, or answer any other questions you may have
- Most importantly, visit BitcoinBlackFriday.com, spend your sats on specials, and share those purchases with the world during this year’s holidays using #BitcoinBlackFriday November 27, 2020