TigerDirect is Now Accepting Bitcoin As Payment

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danwat1234

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It's a far better use of computing resources to crunch for Folding@Home or other worthy distributed computing projects to help science. bits of coins becomes less valuable over time I believe, so more hardware is needed to generate as much income and it's all just a waste of electricity as far as the benefits to humanity.
 

pills161

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"TigerDirect became the first major retailer to accept Bitcoin as a form of payment.", correction, Overstock.com was the first major retailer to accept Bitcoin.
 

wdmfiber

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"TigerDirect became the first major retailer to accept Bitcoin as a form of payment.", correction, Overstock.com was the first major retailer to accept Bitcoin.
Never heard of overstock, let alone made a purchase from them.Sorry pills, they're far from major.
 

chumly

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It's a far better use of computing resources to crunch for Folding@Home or other worthy distributed computing projects to help science. bits of coins becomes less valuable over time I believe, so more hardware is needed to generate as much income and it's all just a waste of electricity as far as the benefits to humanity.
Getting rid of banks is a priority. The current monetary exchange system is so entirely obfuscated that no individual alive can begin to tell you how it works. There is no help for the little man in the equation. A completely open money system is the way to go. Granted, proof-of-work derived from energy suction is a little irresponsible. You should look into solar coin. The pay out coins for proof-of-work in the form of you showing them your physical energy offset, basically, they give you coins based on the amount of energy you make.Despite the electrical cost, the benefits of the crypto exchange system far exceed that of its counterpart. Just the fact that you don't have to worry about distribution any longer. There will be no production cost. Valuable resources can be diverted.Furthermore, IT'S DRIVING TECHNOLOGY.Bitcoin mining efficiency with ASIC technology is exponential. ASICs for non SHA-256 coins, based on FPGAs are coming out soon as well.People are figuring a way around the electricity problems posed by CPU/GPU mining. This is amazing. They are creating a market and jobs and developing new technology faster than anyone could have hoped.There are far worse things that people waste energy on: cars making left turns.
 

cyiwin

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Though it may seem like a logical fit, users hoping to mine Bitcoin as a means of funding their next build are likely going to be disappointed. With the value of Bitcoin where it is, mining any meaningful amount on money takes a while.
People won't make money mining bitcoin from Tiger Direct purchases, they will make money mining Scrypt coins like Litecoin.
 

Grandmastersexsay

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I don't see bitcoins replacing the major fiat currencies. Unfortunate in a way, as the stability and economic boon that would result from the worldwide adoption of a currency not controlled by private central banks would be immense. The value of a currency is directly tied to man's faith in that currency. It is just too hard to have faith in something without a physical presence.
 

Grandmastersexsay

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I don't see bitcoins replacing the major fiat currencies. Unfortunate in a way, as the stability and economic boon that would result from the worldwide adoption of a currency not controlled by private central banks would be immense. The value of a currency is directly tied to man's faith in that currency. It is just too hard to have faith in something without a physical presence.
 

megiv

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I don't see bitcoins replacing the major fiat currencies. Unfortunate in a way, as the stability and economic boon that would result from the worldwide adoption of a currency not controlled by private central banks would be immense. The value of a currency is directly tied to man's faith in that currency. It is just too hard to have faith in something without a physical presence.
Do you think your money got physical presence? think again.Your money is just a line in your bank's database. It's digital money, just like bit coin. The difference is that it's centralized and fully controlled by your bank, unlike bit coin.And if you are talking about these coins and papers you call cash, then FYI - you can print bit coin on paper, and it will still be encrypted (unlike your fiat cash).
 

tompetty

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Very cool. Now TigerDirect is accepting BitCoin payments along with OverStock and Zynga. It's moving mainstream imo. There are bitcoin payment processors like Bitpay.com and www.GoCoin.com too, except Gocoin also accepts Litecoin payments - and processes them to USD/whatever to your account.I think this could be a big thing that are shocking markets recently, as this currency is limited and easy to spend anywhere in the world faster than any bank could do
 

tompetty

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It's a far better use of computing resources to crunch for Folding@Home or other worthy distributed computing projects to help science. bits of coins becomes less valuable over time I believe, so more hardware is needed to generate as much income and it's all just a waste of electricity as far as the benefits to humanity.
I agree Folding@Home has its place, but this is humanity, it is run by greed nowadays... Especially in the broke times we're living in now thanks to greedy bankers and corporations.

The same corporations wanting to access a network of computers "for science" are the ones using the public resources to find new drugs to sell to the people at high prices, instead of for free. I may not know much about FAH, but are products derived from the distributed (free?) computing power giving back results in free cures?

Bitcoin divides into very small fractions, are limited (unlike most every world currency) and easily exchanged. Don't try to lessen its usability please
 

Grandmastersexsay

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I clearly criticized fiat currencies and the central banks that print them. I guess some people only see what they want to see.

But to answer your question, yes, my money got, I mean has, a physical presence. It may not have a physical value, but I can pick it up, hold it, roll around in it. It may just be paper, but it has a physical presence. That is comforting to people, and that is something a bitcoin does not have, by design I might add. I don't know if humans will ever get away from physical money.
 

Grandmastersexsay

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Well, ultimately the responsibility lies on the public who voted in bigger and more powerful governments who empower the banks and corporations. Criticizing banks and corporations for being greedy is like criticizing a dog for barking at cars. It is just part of what makes them tick.

The people however, they should have known better. A government will never be able to do more for you than you can for yourself. They are inherently corrupt and inefficient. You are responsible for your safety. You are responsible for your success. Choosing a government as your advocate and protector is like making a deal with the devil. People are not inherently lazy, while governments are inherently corrupt and banks and corporations are inherently greedy. It is for that reason the public deserves blame.
 

Nathanael Ries

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It's a far better use of computing resources to crunch for Folding@Home or other worthy distributed computing projects to help science. bits of coins becomes less valuable over time I believe, so more hardware is needed to generate as much income and it's all just a waste of electricity as far as the benefits to humanity.
These computers are keeping one of the best payment systems and currencies online.How is that a waste of computing power?Bitcoin solves the Byzantine General's problem, the implications of which will benefit us in more ways than the revolutionary bitcoin ledger, which is already plenty valuable due to its revolutionary decentralized, mathematically regulated, monetary policy.
 

Nathanael Ries

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It's a far better use of computing resources to crunch for Folding@Home or other worthy distributed computing projects to help science. bits of coins becomes less valuable over time I believe, so more hardware is needed to generate as much income and it's all just a waste of electricity as far as the benefits to humanity.
These computers are keeping one of the best payment systems and currencies online.How is that a waste of computing power?Bitcoin solves the Byzantine General's problem, the implications of which will benefit us in more ways than the revolutionary bitcoin ledger, which is already plenty valuable due to its revolutionary decentralized, mathematically regulated, monetary policy.
 

hasten

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Well, ultimately the responsibility lies on the public who voted in bigger and more powerful governments who empower the banks and corporations. Criticizing banks and corporations for being greedy is like criticizing a dog for barking at cars. It is just part of what makes them tick. The people however, they should have known better. A government will never be able to do more for you than you can for yourself. They are inherently corrupt and inefficient. You are responsible for your safety. You are responsible for your success. Choosing a government as your advocate and protector is like making a deal with the devil. People are not inherently lazy, while governments are inherently corrupt and banks and corporations are inherently greedy. It is for that reason the public deserves blame.
This reads like a Fox News propa-report. Unfortunately it was the "small gubnerment" right wing's lord and savior, Ronald Reagan, who began the deregulation that led to the so-called "broke times" we are experiencing now. BUT, a lot of very rich (true right) men got exponentially richer over that period of time! So there's that.
 

Grandmastersexsay

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I see you haven't gotten past the Left-Right paradigm.

First, Fox News is simply the neoconservative big government alternative to the main stream media. They beat the government is your protector and savior drum all day long. Deer kill more people than terrorists, but we have made countless new three letter agencies and have spent over $2 trillion on foreign wars, all to supposedly save us from this enemy who is less dangerous than deer. This is clearly the exact opposite of what I was suggesting.

As far as your idiotic Reagan comment goes, Reagan was hardly for small government. He increased the size and scope of government more than every president before him combined. Accounting for inflation, Reagen increased the Federal budget more than even Obama has. I would like to point out that less than 10% of Reagan's increase to the federal budget went to defense spending. Reagan even passed more damaging gun control legislation than any Democrat president ever did with the Firearm Owners Protection Act, AKA the machine gun ban. Small government? That is the last word I would use to describe Reagan.

Still, the economic troubles we are having now have little to do with Reagan's policies. If you want to blame a Republican, blame Richard Nixon. He did more damage to the US economy than any other recent president with his creation of the EPA. Go try to fart without the EPA getting involved.

You need to move past this Left-Right paradigm. You are being played for the fool that you are. Have you noticed Obama has been a near perfect carbon copy of Bush? From war to socialized medicine, it's like they are on one big team. The meaningless social issues that get you so angry are designed to do so. So while you are busy hating the other side, you fail to see that the other side and your side are working on something bigger.
 

tchahin

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I see you haven't gotten past the Left-Right paradigm.First, Fox News is simply the neoconservative big government alternative to the main stream media. They beat the government is your protector and savior drum all day long. Deer kill more people than terrorists, but we have made countless new three letter agencies and have spent over $2 trillion on foreign wars, all to supposedly save us from this enemy who is less dangerous than deer. This is clearly the exact opposite of what I was suggesting.As far as your idiotic Reagan comment goes, Reagan was hardly for small government. He increased the size and scope of government more than every president before him combined. Accounting for inflation, Reagen increased the Federal budget more than even Obama has. I would like to point out that less than 10% of Reagan's increase to the federal budget went to defense spending. Reagan even passed more damaging gun control legislation than any Democrat president ever did with the Firearm Owners Protection Act, AKA the machine gun ban. Small government? That is the last word I would use to describe Reagan. Still, the economic troubles we are having now have little to do with Reagan's policies. If you want to blame a Republican, blame Richard Nixon. He did more damage to the US economy than any other recent president with his creation of the EPA. Go try to fart without the EPA getting involved. You need to move past this Left-Right paradigm. You are being played for the fool that you are. Have you noticed Obama has been a near perfect carbon copy of Bush? From war to socialized medicine, it's like they are on one big team. The meaningless social issues that get you so angry are designed to do so. So while you are busy hating the other side, you fail to see that the other side and your side are working on something bigger.
Said it all. Politicians are all the same, left or right.Its the same here in Brazil.
 

hasten

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I see you haven't gotten past the Left-Right paradigm.First, Fox News is simply the neoconservative big government alternative to the main stream media. They beat the government is your protector and savior drum all day long. Deer kill more people than terrorists, but we have made countless new three letter agencies and have spent over $2 trillion on foreign wars, all to supposedly save us from this enemy who is less dangerous than deer. This is clearly the exact opposite of what I was suggesting.As far as your idiotic Reagan comment goes, Reagan was hardly for small government. He increased the size and scope of government more than every president before him combined. Accounting for inflation, Reagen increased the Federal budget more than even Obama has. I would like to point out that less than 10% of Reagan's increase to the federal budget went to defense spending. Reagan even passed more damaging gun control legislation than any Democrat president ever did with the Firearm Owners Protection Act, AKA the machine gun ban. Small government? That is the last word I would use to describe Reagan. Still, the economic troubles we are having now have little to do with Reagan's policies. If you want to blame a Republican, blame Richard Nixon. He did more damage to the US economy than any other recent president with his creation of the EPA. Go try to fart without the EPA getting involved. You need to move past this Left-Right paradigm. You are being played for the fool that you are. Have you noticed Obama has been a near perfect carbon copy of Bush? From war to socialized medicine, it's like they are on one big team. The meaningless social issues that get you so angry are designed to do so. So while you are busy hating the other side, you fail to see that the other side and your side are working on something bigger.
When did I say that Reagan was a "small government" politician? I was merely pointing out the hypocrisy of the libertarian/neoconservative/poor southern republican after reading what seemed to be a comment stripped directly from a FNC press release. Your Nixon analogy is exaggerated. Only if you are a wanna be libertarian (which is no longer even comprehensible in current society) could you say that Nixon did more harm than Reagan. That is asinine. Environmental protectionism is a fly on the windshield of deregulation. I am independent, it just so happens that every Republican run government of my lifetime, other than Bush Sr., has been much more detrimental than the other side.
 

Grandmastersexsay

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I really am sympathetic to your problem. Even I have a vestigial impulse to defend "My Side" thanks to growing up in an environment designed to perpetuate the Left-Right paradigm. For instance, I have this useless urge to point out to you that it was Clinton's National Homeownership Strategy, which FORCED banks to loosen lending requirements to low income and other high risk individuals that was undoubtedly the largest contributing presidential policy to the subprime mortgage crisis, end of discussion. Of course the root of the problem is the business cycle, which has nothing to do with government policy or legislation, but is caused intentionally by the privately owned central banks.

BUT..... I am talking about something a lot different when I say Nixon's EPA did more damage to the U.S. economy. I am talking about the mass migration/extinction of the U.S. manufacturing industry. Before the EPA, there were companies here like U.S. Steel, which dominated the industry. Steel comes from China today. It is just too expensive to make something in the United States. This in large part is a result of the EPA. Fly on the windshield? You sir are an idiot. Strike that. You are not an idiot. You just have a confirmation bias.

You might need to explain how libertarianism is "no longer even comprehensible in current society". Besides your poor choice of wording, you seem to ignore the fact that libertarianism is far and away, the fastest growing political movement today. Some might argue our country depends upon its success.

Perhaps you really just don't understand libertarianism, which really wouldn't surprise me. Investigate it a little bit. You will probably find yourself agreeing with them on the majority of social issues. It is hard not to. Let's take gay marriage for instance. Some people support it, some people are vehemently against it. The Libertarian solution is simple: The government shouldn't be involved in marriage at all, they should only enforce contracts. Even if we kept the current tax structure, such a government stance on marriage would be easy to accommodate, just look at common wealth states.

Economically, I have a feeling you might have a harder time getting on board. Many of the arguments the Right makes, but never intends to implement, are the same arguments Libertarians want to implement. You might cringe at the phrase "small government", but ironically you have never seen it. Your hatred stems from this Left-Right paradigm. Once you can accept the obvious fact that you have been manipulated your entire life by one large singular political entity, only then can you start making a rational assessment of free market economic policies.
 


Overstock.com is a publicly traded company (ticker: OSTK).

http://www.marketwatch.com/investing/stock/ostk/financials

Company Value (Market Cap) = ~$679.7m (based on stock price of $28.46)
2012 Revenue = $1.1 billion
# of employees = ~1,280


================================

TigerDirect is a privately held company.

http://www.zoominfo.com/c/TigerDirect-,-Inc./38290122


Revenue = Estimated $100 million - $250 million
# of Employees = Estimate 250 - 500




 


No. But a former president of TigerDirect was indicted for a $230 million money laundering scheme.

http://blogs.wsj.com/riskandcompliance/2013/06/19/former-tigerdirect-president-indicted-in-230-million-laundering-scheme/

[Carl] Fiorentino worked for Sytemax from 1995 through May 2011 and he was the president of TigerDirect, its computer and electronics unit. As president, he was involved in picking suppliers and approving the quantity of the purchases from those suppliers.

The indictment alleges Fiorentino abused that position, entering into an illegal agreement with the owner of a Taiwanese company to steer TigerDirect’s business his way in exchange for $6.5 million in bribes and kickbacks. In addition, he received another $570,000 from a California-based company
 
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