campaign to get Amazon to accept Bitcoin

blackhathasher

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Quote from: Light on April 17, 2014, 10:49:58 PM

Actually an increase in demand will simply lead to a higher price. No need to worry about the supply curve as long as it doesn't shift (of course there is a marginal shift of 25 BTC per block but I wouldn't worry to greatly about that in the short term).

the more users of BTC there are the less the supply will be due to smauging and lost private keys. the supply i think i was referring to was the supply in actual circulation because the real supply is fixed and will be forever.

Light

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Circa 2010

Quote from: blackhathasher on April 17, 2014, 10:43:02 PM

well sure it does... the more people that use bitcoins then the more demand there is for bitcoins. the more demands there is for bitcoins the less supply there will be. the less supply there is the higher the price is.

Actually an increase in demand will simply lead to a higher price. No need to worry about the supply curve as long as it doesn't shift (of course there is a marginal shift of 25 BTC per block but I wouldn't worry to greatly about that in the short term).

blackhathasher

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Quote from: ~Coinseeker~ on April 17, 2014, 01:02:19 PM

Why would this increase the value of BTC? Maybe a temporary speculative pump but this doesn't get more people buying Bitcoin, does it?

well sure it does... the more people that use bitcoins then the more demand there is for bitcoins. the more demands there is for bitcoins the less supply there will be. the less supply there is the higher the price is.

~Coinseeker~

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Quote from: Trance on April 17, 2014, 11:04:59 AM

Make them do a Amazon balance storage but you can convert BTC->Amazon Balance ->purchase !

This would be a crucial spike for the BTC Value if Amazon adopted these innovations

Why would this increase the value of BTC? Maybe a temporary speculative pump but this doesn't get more people buying Bitcoin, does it?

nkocevar

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Quote from: Trance on April 17, 2014, 11:04:59 AM

Make them do a Amazon balance storage but you can convert BTC->Amazon Balance ->purchase !

This would be a crucial spike for the BTC Value if Amazon adopted these innovations

Thats a great idea. Bitcoin value would go up, and it would make other companies realize that it isnt that hard, and maybe more companies will implement bitcoin as a currency you can use on their site.

whtchocla7e

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Quote from: nkocevar on April 17, 2014, 09:15:40 AM

If they have the audacity, or forward thinking, to fly peoples packages to their houses via drones, why don't they accept the cryptocurrency of the future...

You mean the Google or Apple coins? That's still in beta testing stage...

Trance

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Make them do a Amazon balance storage but you can convert BTC->Amazon Balance ->purchase !

This would be a crucial spike for the BTC Value if Amazon adopted these innovations

nkocevar

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Activity: 294

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If they have the audacity, or forward thinking, to fly peoples packages to their houses via drones, why don't they accept the cryptocurrency of the future...

bryant.coleman

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Quote from: mktrader on April 16, 2014, 10:50:20 PM

Overstock is a mainstream business with 2013 annual revenues amounting to $1.30 Billion.

Most importantly, Overstock is growing at a rapid pace, while the Amazon is stagnant.

Overstock:

Total revenues (2013): $1,304 million
Total revenues (2012): $1,099 million

RockHound

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Quote from: niothor on April 17, 2014, 01:22:34 AM

Quote from: mktrader on April 16, 2014, 10:50:20 PM

Quote from: Bigeyeone on March 13, 2014, 11:15:41 AM

Quote from: TTM on March 13, 2014, 10:05:24 AM

Accepting cryptocurrencies is too risky for mainstream business. I guess Amazon will not adding BTC as payment method unless BTC become popular. It will take long time. Our best option is to spend more coins at Overstock. Unfortunately, most of bitcoin users just ... hold and wait for exchange price to increase, they don't want to spend any of their precious coins.

Overstock not a mainstream business Huh

Oerstock is a mainstream business with 2013 annual revenues amounting to $1.30 Billion.

Source: http://www.overstock.com/about

They've ranked outside the top 20 online shops in the US. So , they are hardly mainstream.
Big , yeah , but not one of the key players by far.

The players list: http://en.wikipedia.org/wiki/List_of_largest_companies_by_revenue if one these guys got on board, probably would be good for BTC Wink

How's the campaigning going? Wrote to Amazon again today (different department) Cheesy

niothor

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Quote from: mktrader on April 16, 2014, 10:50:20 PM

Quote from: Bigeyeone on March 13, 2014, 11:15:41 AM

Quote from: TTM on March 13, 2014, 10:05:24 AM

Accepting cryptocurrencies is too risky for mainstream business. I guess Amazon will not adding BTC as payment method unless BTC become popular. It will take long time. Our best option is to spend more coins at Overstock. Unfortunately, most of bitcoin users just ... hold and wait for exchange price to increase, they don't want to spend any of their precious coins.

Overstock not a mainstream business Huh

Oerstock is a mainstream business with 2013 annual revenues amounting to $1.30 Billion.

Source: http://www.overstock.com/about

They've ranked outside the top 20 online shops in the US. So , they are hardly mainstream.
Big , yeah , but not one of the key players by far.

freedomno1

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Learning the troll avoidance button :)

Amazon would be an interesting addition to Bitcoin but give it time they will either make amazon coin or realizing the competition is out there and getting a revenue stream they aren't diversify into it.

mktrader

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Quote from: Bigeyeone on March 13, 2014, 11:15:41 AM

Quote from: TTM on March 13, 2014, 10:05:24 AM

Accepting cryptocurrencies is too risky for mainstream business. I guess Amazon will not adding BTC as payment method unless BTC become popular. It will take long time. Our best option is to spend more coins at Overstock. Unfortunately, most of bitcoin users just ... hold and wait for exchange price to increase, they don't want to spend any of their precious coins.

Overstock not a mainstream business Huh

Oerstock is a mainstream business with 2013 annual revenues amounting to $1.30 Billion.

Source: http://www.overstock.com/about

BTCtrader71

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Quote from: zolace on April 16, 2014, 04:57:46 PM

And there's no way they can support the transaction volume that would come from Amazon.

I wonder if they are waiting for the bitcoin ecosystem to be big enough to support their volume. If so ... it's just a matter of time.

Cryptopher

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Keep it dense, yeah?

I must say, I find myself shopping with Amazon on a monthly basis but if they were to accept Bitcoin imagine that. Would be a fine way to convert without the hassle of selling the coins. Perfect.

Amazon know that those in the Bitcoin community want them to accept Bitcoin as a method of payment, but I think what they really want is your average customer to say that they want Bitcoin as an option for reasons a, b, c etc.

zolace

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I hate to be a party pooper but this will not happen for a long long time. The only reason 99% of businesses accept bitcoin is because they can immediately convert it to fiat through bitpay. And there's no way they can support the transaction volume that would come from Amazon.

Pentax

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I e-mailed support on this after seeing their decision not to utilize bitcoin.

I got this in response.

"Hello,

Currently, we don't accept Bitcoin as a payment method on our website. Moreover, I hope you'll understand that Amazon.com does not comment about rumors or speculative news reports.

Although that is the case, it's a good thing that you've brought this up to our attention and we'll consider your feedback as we plan further improvements.

Strong customer feedback like yours is very important in helping us continue to improve our website and services. I'll make sure to pass your message on to the appropriate department in our company. We always want to know how our customers react to all aspects of shopping on our website....."

There was some blah, blah, blah about other payment options after all of that.

I was surprised that they responded, and it was pretty fast. Maybe they need to be bombarded with these. Might not help, but it can't hurt either.

googlemaster1

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Quote from: RodeoX on March 13, 2014, 12:48:06 PM

Quote from: ebliever on March 13, 2014, 12:14:32 PM

Quote from: Joshuar on March 13, 2014, 11:25:33 AM

Yea, the big companies won't accept Bitcoin any time soon, simply because of it's price fluctuations..

That can be managed easily, from what I've read, and all the major bitcoin processors offer immediate cashout to local currency to protect against such fluctuations.

Besides, if bitcoin does keep trending up then ending up holding it as a merchant is a good thing. Grin

That's right. Overstock has no exposure to price volatility because they only use BTC as a payment network. The price of a bitcoin is meaningless when used this way.

Patrick said he was going to start keeping a small portion of the bitcoin OSTK receives as payment to include on their balance sheet. This should be all the reason you need to shop there if its financially equal to do so. Often times I find for household items OSTK is better than AMZN. The only delta that was too large to cross price-wise was a particular set of speakers I wanted to buy and ended up grabbing off AMZN instead.

PBmining

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I think I may be able to help. Our next hash power giveaway may involve taking action and contributing to this campaign. The customer would need to post a screenshot of their message to Amazon as a requirement to enter the contest, although this might make the pressure less convincing if there is incentive behind it.

Velkro

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sent email to support about accepting bitcoin

Topic: campaign to get Amazon to accept Bitcoin (Read 5986 times)