Topic: Amazon to accept Bitcoin as early as this October? - page 5. (Read 3538 times)

realy youre statement
iam not found amazon founder release news in amazon site, if amazon can accepted bitcoin in october

if true amazon accepted bitcoin in october, i think bitcoin price can incraese very high go the moon

I expect Amazon to instantly convert the Bitcoin into the local currency, just like any other large online service that accepts Bitcoin. Taxes are calculated just like any other sale.
If I continu speculating a bit more, I expect Amazon to be big enough to create it's own payment processor to exchange Bitcoins without paying a third party. They may even start a competing Bitcoin payment processor for other businesses, just like many businesses sell their products through Amazon.
For large orders Amazon may even save on creditcard fees if it's paid in Bitcoin.

How am I mistaken? Someone has to take on the risk, so it's either Amazon or the 3rd party seller.

Amazon is willing to take on processing risk because they have security measures in place to minimize fraud and with millions of transactions per year, they can pretty accurately estimate what their loss percentage is and build it into their margins. You can't do that with exchange rate volatility.

It sounds like you're suggesting that Amazon would take on volatility so it's not an issue for merchants. If so, there's no way for Amazon to mitigate this like they can with risk of fraud. Even if Jeff Bezos personally thought Bitcoin is undervalued, it's not likely that all shareholders would agree.

The other option would be for Amazon to do conversions from BTC to fiat on the spot for each transaction. You eliminate volatility risk, but converting each transaction comes at an added cost.

What's more likely to happen first is for Visa/Mastercard to start allowing BTC at some point since that's how it works with other currencies. If someone wants to buy something on Amazon using a European credit card, the buyer pays with Euros and Amazon receives dollars. Visa/Mastercard takes on the currency risk, but they build in a favorable exchange rate to account for volatility. If you've ever bought something via credit card while traveling abroad, you can see this on your statement at the end of the month. If they were to do the same with BTC before it becomes a more stable currency, they'd have to provide a really poor exchange rate to account for the extreme volatility we see today.

I very much believe it's a fake news.Amazon will not accept bitcoin this soon because amazon operates under regulation from government and deals with a lot of fiat daily.If they accept bitcoin(which is very volatile) they can lose or gain money in short period of time which is very risky.Amazon can accept bitcoin in future when it becomes more widely accepted and price of bitcoin becomes stable and not manipulated by some dumb chinese people.

Amazon acting as the middleman would be just as unlikely since they'd be taking on exchange rate risk.

There's very little upside for Amazon to do this and it comes with a lot of risk and complexity. If they were to start accepting, it would help Bitcoin more than it would help Amazon. Amazon is the largest retailer in the world, so they don't need to attract such a relatively small number of potential users.

This is only rumors and it won't come as a surprise if it turned out to be exactly just that - rumors. Sources can be reliable but can also be unreliable. It does seem weird that Amazon would implement bitcoin when they aren't selling the goods themselves but rather only serving as a platform to connect buyers and sellers.

But it could still work, and if it was implemented by October it'll offset the negative news from China completely.

Then, price has the potential to go to another ATH of $5k+. But it does depend on the legitimacy of the news.

I agree that a large percentage of Amazon´s sales come through 3rd party sellers.

However, you are completely mistaken about how this relationship between merchant and Amazon works.
Your worries are unfounded, because Amazon not only handles the processing but also the payment.
This is why you aren´t redirected to a sketchy website where you enter your CC data and instead
use the CC data stored at Amazom from your previous purchases.

My gut feeling says this is probably fake. If it were to be true they would probably announce a date when they would implement it rather than going live in a couple of months.

Seems to good to be true for me. I myself went into bitcoin because I saw it accepted as a payment means for some service I used. If Amazon accepted it, there would be millions of new Bitcoin users and that would make the price go to the moon.

As for conversion and the difficulties for amazon and 3rd parties, they could just convert the BTC asap after receiving them... I see not much problem with that.

In my view, it is NOT going to happen in November.

This is due to being a real cluster to do so...... JUST ahead of the Xmas season would be complicated for Amazon.

However, if the rumor would have said spring...I may have bought in on the rumor.

So I think, unfortunately, is it only rumor and nothing else.

it seems like this news is becoming kind of viral.

although i have a feeling that there is no much truth about it and it is mostly "rumors" than anything else. reading different articles online it seems like all the news sites are also taking advantage and repeating the same thing like always! without even checking facts.

i dare say it even had some effects on the price and helped a little rise. the same way random FUD causes a little drop.

but if it comes true, the long term effects on it must be huge. it will be a very nice publicity for bitcoin and in long term it will introduce bitcoin to many others and lead to wider adoption and much more usage of bitcoin as a currency. we can expect the $10,000 to come faster with it.

Exactly good statement at all because look at the market. Market is surprised to see the change because look at the change bitcoin is once again going upward and people are once again coming to invest great effort by bitcoin.

If this does happen then it'll definitely impact bitcoin's price and drive it up quite a bit, and make a full recovery up to $4000+ and making the $4000 level as a floor finally. However, this remains to be speculation and it's hard to say whether or not Amazon is actually going to do it.


Good point, but they can simply act as the middleman and convert the btc to fiat or even just have an option for people to accept btc directly. It's not difficult to implement at all.

But i can see what you're trying to say, and as i said - this remains to be speculation, not confirmed news. Don't get too excited. But if it does happen price will go up for sure.

Even if they acknowledge on 26th October that will implement btc payment system in a few months time for a specific region it will give the btc a significant push in value.

I was waiting for this for a long time and i hope this time it can be happen this coming october  but i was confused honestly i seen a news yesterday that amazon will not accept bitcoin every and we are just seen that amazon was not accepting bitcoin until now..
And i think this is impossible to happen..
Well for now i can do is to wait.. and if ever amazon are not accepting any bitcoin anymore or in the future.. there are some ways that you can buy product from amazon using purse.io best alternative..

An important reason why Amazon won't be accepting Bitcoin anytime soon is because a lot of their sales come through 3rd party sellers.

So, even though Amazon is the sales platform, you're actually buying from an independent seller and Amazon is just handling the order processing (and sometimes fulfillment). This means that individual sellers would have to sign on to accept Bitcoin.

Just managing this process and dealing with all the complaints from sellers who aren't happy with the BTC/USD rate at the time of sale thinking that Amazon screwed them somehow would make this a nightmare for Amazon. Amazon only disburses money to sellers every two weeks, so you could have sellers who sold a product when BTC was at $4,500, but it's at $3,500 by the time it gets disbursed.

The technical implementation wouldn't be as easy as just adding another payment option, so I'd be willing to bet everything I have that they won't be accepting BTC anytime soon.

You will pay with what will be easier and cheaper to you. So as anyone else. Those that mainly sell BTC need more merchants, those that still accumulate, they dont really need them since they just reduce their pile of BTC.

I'm sure it would only be region by region for quite a while. They would probably do a pilot program in, say, Seattle. Then they would gradually roll it out to other regions.

Scale is an issue. I actually don't think that Amazon nor the Bitcoin network could comfortably handle the potential volume that Amazon could bring. I feel like Satoshi re: Wikileaks. I don't see this as feasible until we have a functioning Lightning Network. And if they did it through Bitpay or Coinbase, same problem.

Maybe the best thing we can do is to wait until Oct 26th if Amazon will really finally accepts bitcoin for payments. But for me, that is not really the problem. I want that Amazon will decrease their charge if they'll delivers other countries. 

So, how do they calculate taxes of companies that already accept payment with bitcoin? There must be a system. I don’t see any problem. I suppose it must be something like counting bitcoin payment as the equivalent in fiat money, that’s it.

Moreover, I am positively sure that they will accept bitcoin payment but not so sure it will be as early as in a month because virtually no companies accept it nowadays. To accept it would be very good for us but a big move for the company.