Amazon is looking to accept Bitcoin payments by the end of the year - page 7.

bitmover

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Quote from: BlackHatCoiner on July 25, 2021, 04:04:55 PM

Hey Jeff, about the token thing: Don't.

I think that accepting bitcoin as a payment method could have a huge benefit for a big company. No big company really does it besides PayPal, and it may even increase their client base to do so.

I am not sure of creating their own token will be so much beneficial
Regulation problems, lots of investments in the infrastructure and after all it may be ignore and not adopted at all
Facebook gave up for some time afaik

Baofeng

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I still take this news with a grain of salt, we have somewhat heard this kind of news since the last bull run we have in 2017 and yet it didn't materialised. So I will not get excited about it, and as you can see they are really planning to have their own token. And it may backfire on them, similar to what Facebook/Libra, lots of hailstorm coming from regulatory bodies around the globe. If they accept BTC then good for the market, otherwise, fingers crossed.

Vaskiy

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Already Amazon is much known for its technology dependent service on cloud data. So, these people entering the cryptomarket isn't a big surprise. Amazon will primarily accept Bitcoin and incorporate into all its services, later might move to its own token. At the present market people won't go into Amazon token leaving bitcoin.

Rikafip

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Quote from: dkbit98 on July 25, 2021, 01:03:15 PM

You can imagine that they will control supply and everything else related with potential amazon token including some kyc verification, and for Bitcoin they can always have some stupid excuse like high fees, etc.

Even if that happens, Amazon issuing their own centralized shitcoin, I see them as an useful idiot; sooner or later portion of Amazon users will want to get the real thing, and we know what they are going to get.

Bitcoin started revolution, and it would be naive not to expect these top companies trying it out with their own versions of cryptocurrencies.

BlackHatCoiner

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Farewell, Leo

Amazon's gonna accept Bitcoin. Yeah right.

In my opinion, the source is really not trustworthy, but even if we assume that it will happen, have you ever consider Bezos entering the market? Oh boy, it'll not leave it easy with his pumps and dumps. Even if it'll probably increase its market value by adding that “Pay with Bitcoin” option, I have my doubts that we should be happy for having another “richest man” in the game.

Hey Jeff, about the token thing: Don't.

20kevin20

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Don't know if this is good or bad news, especially since it is now known that very strict regulations are coming out in Q3-Q4 2021. Considering the timing, if the rumors are true it mamy be a cooperation between Bezos and the governments. Since Amazon has so many customers, it's much easier to link crypto stuff to identities and trace down certain info.. espesically for loyal Amazon customers and for those who don't use Bitcoin with some privacy-focused wallets or so.

Haunebu

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Read this news earlier and wasn't blown away or anything since history has taught us that this sort of news shouldn't be taken too seriously until there is sufficient evidence to prove that these rumors are legitimate.

Mainstream adoption of LN seems to be the only viable option currently for BTC as a payment method.

I do believe the part about Amazon creating their own token which is the trend these days just like other big companies such as FB etc. They are also probably primarily interested in the blockchain technology behind BTC.

hatshepsut93

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"Anonymous insider" without any verifications by the journalists, the site itself is very obscure, it's obvious that this is a very untrustworthy rumor. It could be true, but I wouldn't get your hopes high. And the timing could be suggesting that it's just an attempt to pump Bitcoin while it has some momentum.

I think it's unlikely for Amazon to accept Bitcoin until the problem with fees is fully solved, it one thing to pay $10-40 fee for buying a Tesla, and completely other thing to deal with fees and delays for small consumer payments.

beertoll

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Can vouch for the source, but it is not just a random blog: https://en.wikipedia.org/wiki/City_A.M.

AniviaBtc

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This seems suspicious, not all big companies are knowledgeable about crypto and willing to engage on it.

But if this is true then this can also influence the market movement of bitcoin and people will make a move to make it profitable and make it spread more.

Adoption is what we need to make more big companies join crypto world and that is what most of us want.

DeathAngel

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I saw the story but the source isn’t very reliable, is it? I really hope it is true but I would air caution with basing any trades on what is essentially a rumour.

so98nn

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Thats entirely possible because amazon is one of the largest marketplace in the Globe. They are in every corner of the world and with that needs exclusive marketing strategies to be build so that they can keep the customers engaged.

Amazon is the only e-commerce place where highest affiliate fees and highest discounts or combo's available. This means both advertiser, publisher and buyer can enjoy the royalty of earning and paying in the form of Bitcoin.

Lets forget about the KYC for sometime here, people will always choose amazon for it's newly launched payment system as it is the trusted marketplace with quality service.

sunsilk

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Is that website known for being a reliable source?

Let's say that it's for real and they're really going to accept payments through bitcoin. They can do that easily as they will have no problems converting bitcoin payments directly into fiat as soon as they've received it.

There will no longer need to convert into gift cards if you're paying in bitcoin and as they investigate for their own token. It's normal to see as a big tech company to have their own just as FB.

bL4nkcode

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Good news if this is really true.

And probably this will be going a similar hype to tesla months ago, just not sure if it will be the same as tesla who reverses their decision later on, but I have guess it will be the same having their own reasons, and maybe before selling their holdings.

While Tesla changing it's decision to accept bitcoin again. It's good that this giant companies trying to start adopting bitcoin but not unitl they start manipulating the market.

dkbit98

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I don't trust anything that big tech, Bezos or Amazon are saying, and they always have some hidden motives behind everything they do.
They hired some blockchain people few months ago, and there are some rumors they are working on creating their own token to be used instead of Bitcoin.
You can imagine that they will control supply and everything else related with potential amazon token including some kyc verification, and for Bitcoin they can always have some stupid excuse like high fees, etc.

beertoll

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Can be of interest:

Amazon is looking to accept Bitcoin payments ‘by the end of the year’, and is investigating its own token for 2022, says an insider:

https://www.cityam.com/amazon-definitely-lining-up-bitcoin-payments-and-token-confirms-insider/

Topic: Amazon is looking to accept Bitcoin payments by the end of the year - page 7. (Read 1087 times)