The Rise of the Cryptocurrency Gift Economy
In 2013, the digital anthropologist Lui Smyth conducted a survey of the most common uses of bitcoin. He found bitcoin was used to buy web services, software, hardware, gambling services, and (in the heyday of the Silk Road) narcotics. Topping the list though, when measured in terms of the number of transactions, was tipping and donations. The public block chain provides much anecdotal evidence for this. All one needs to do is search the tipping addresses of people or groups who openly advertise that they take bitcoin tips. Here, for example, are tipping accounts for Adam B Levine and....
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Bitcoin is a booming business in the United Kingdom, assuming one knows how to play their cards right. Gift Off, a company specializing in selling gift cards for Bitcoin, recorded an all-time high turnover in February of 2016. Cryptocurrency enthusiasts in the United Kingdom will have heard of Gift Off before, as this Norwich-based online shop sells gift cards in exchange for Bitcoin payments. Up until this point, the company has sold close to GBP2.1m worth of gift cards, of which over GBP200k was processed last month. Considering how Gift Off is focusing on various gift cards, it seems....
Centz, a digital currency service letting users convert gift card balances to cash, will hold an ICO in November, hosted by OpenLedger. Centz: Turn Gift Cards Into Digital Cash. Announcing its service at Money 20/20 in Las Vegas, Centz uses a specialized digital currency called “Centz Gold Bucks” (CGB) to convert gift card balances to digital cash, letting users spend their balances on anything. To use the service, customers create an account and load gift card balances into their digital wallets. Centz then converts the card balances into CGB and gives it to users in a single, spendable....
In a press release sent out today eGifter, a social and mobile gifting company, announces its expansion into the European Market by adding Amazon.fr, Amazon.de and Amazon.co.uk Gift Cards to its offerings. The new offering will allow European consumers to purchase these cards with Bitcoin, which is very good news as the real Bitcoin economy takes off and more and more consumers look for simple ways to use their coins to buy things (as opposed of speculation). The gift cards are available on the eGifter web and mobile website and will be available next month on the eGifter mobile apps for....
While Bitcoin is growing everyday and is accepted in thousands of businesses worldwide, the vast majority of retailers around the world still only accept payment through cash or card. However, luckily for Bitcoin users, several apps allow gift cards to be purchased with cryptocurrency, acting as a proxy between the customer and the business. This allows the privacy-conscious and cryptocurrency diehards to use Bitcoin wherever they go. Several gift card apps make purchasing gift cards with Bitcoin on the go very simple and convenient. CoinTelegraph compares three major Bitcoin gift card....
Bitcoin can serve as an excellent gift for those trying to introduce people to the technology who may not have taken the plunge on their own.