Can Amazon Integrate Bitcoin? - page 16.

azguard

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Quote from: GreenCoin22 on November 03, 2017, 05:22:17 PM

As Amazon is focused on internet and related things, integrating Bitcoin is a move that goes well with Amazons strategy. On the other hand if Amazon integrates this Bitcoin I guess that Bitcoins price will be huge and will go up to 10.000$. So I don`t know if Amazon will have success or not with Bitcoin but as much as the topic will be in discussion the price of BTC will be stable or rise even more.

Not need to be like that, if was rumored back in 2015 end that they wanted back then to use and implement bitcoin but end up just with the words. Hope that this time will be much better and that finally many will be able to buy/sell on Amazon stuff for bitcoin.

This could be that breaking point for bitcoin and massive adoption if this come to be good then maybe price will go shy high.

krishnapramod

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1. The logic behind Amazon not integrating Bitcoin as a payment method might be as simple as there isn't substantial demand for Bitcoin as a currency/medium of exchange.

2. Volatility.

3. Regulations. Apart from a couple of countries, Bitcoin isn't recognized/legalized as a currency. Additionally, in the US, every Bitcoin payment is liable for capital gains tax.

Amazon has its own virtual currency, Amazon Coins. I am sure that Amazon will accept Bitcoin, but when depends on demand, volatility, more clarity and less uncertainty.

coin_1122

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Quote from: GreenCoin22 on November 03, 2017, 05:22:17 PM

As Amazon is focused on internet and related things, integrating Bitcoin is a move that goes well with Amazons strategy. On the other hand if Amazon integrates this Bitcoin I guess that Bitcoins price will be huge and will go up to 10.000$. So I don`t know if Amazon will have success or not with Bitcoin but as much as the topic will be in discussion the price of BTC will be stable or rise even more.

Still, there is no such news announced by the Amazon whether they will integrate or not. I think if the integrate the Bitcoin means definitely the price of Bitcoin will spike to 10,000USD and many people are using the services with the Bitcoin they have.

BitcoinMarshal

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Quote from: digaran on November 03, 2017, 08:46:23 PM

They must before it's too late, they could use a payment processor like Coinpayments.net if they don't want to get involved too much with market and price fluctuations. they are already keeping your information before you receive your purchased items, they know who you are and where you live, if they use a payment processor they will never lose money.

Amazon is world[s biggest online market they will keep eye on all factors and then implement all things which could be helpful for them and buyers both if they are going to do this in near future this could be very good news as bitcoin already touching 7000$ this news can give quick response and we can touch over 10000$ figure love to be have this

crypto4lambo

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They can integrate bitcoin in Amazon or any other merchant I must say, if and only if, bitcoin will be stable enough in regards with its price. With its volatility it can be a big factor to not be integrated to any other merchants. They cant change their price everyday just to cope up with bitcoin’s price. Also, bitcoin has high fees and slower transaction rate compared to other altcoins with similar usage. If dev team can come up with a solution to solve this then I think there is no way it can’t be integrated. Also, one thing that comes into my mind, if Bitcoin can’t be regulated then how come it can be taxed. That thing alone can trigger the goverment to stop bitcoin.

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alexzorgo

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Amazon most likely will release own version of tokens as universal conventional units. Will test all opportunities by means of the tokens and will reveal shortcomings of such cryptosystem. And only after that will try to implement payment in directly operating cryptocurrencies. They don't hurry because any mistakes can do much harm reputations of the company,

jekjekman

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A huge company as Amazon will not have any problem on integrating bitcoin as a mode of payment. They might even release their own crypto currency to be used for their websites. It is a fact that almost all of the online shopping websites are already on the step on checking if the can use bitcoin as a mode of payment to offer their customers maybe one reason why they can't do it right now is because the price of bitcoin keeps on fluctuating from time to time.

entrepmind23

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They can integrate bitcoin but there are still issues that need to be solved before they can fully make it as one of their payment option like as what OP said, the high transaction fee. This is one of the major complaints of the bitcoin users because transaction fee is high that's why it would be hard for Amazon to just add bitcoin because the costumer might consider paying in another option if customers would end up paying higher if they choose bitcoin and instead of buying the products cheap, it would be more expensive. There is also the issue of volatility so they should address this first. I though believe that Amazon will eventually integrate bitcoin because of the growing users of crypto so they wouldn't like it if they are left behind.

digaran

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They must before it's too late, they could use a payment processor like Coinpayments.net if they don't want to get involved too much with market and price fluctuations. they are already keeping your information before you receive your purchased items, they know who you are and where you live, if they use a payment processor they will never lose money.

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It's not impossible to integrate bitcoin in the near future since some other online services or stores are already integrating bitcoin. The only difference is that amazon is one of the biggest online marketplace and is controlled and being regulated strictly thus before it can integrate bitcoin, they need to assess all factors and weigh its advantages and disadvantages. I strongly believe that it will soon be integrated, no doubts on this question at all.

BCEmporium

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Quote from: aardvark15 on November 03, 2017, 04:58:50 PM

I don’t see why it couldn’t be done. Other companies like Overstock.com have allowed Bitcoin as a payment method and it worked fine when I used it. There is no reason why a company can’t allow Bitcoin as a payment method, especially online because it is so easy to do from your own computer or smartphone. My assumption is that if Amazon provides this alternative, you will see an increase in sales temporarily as people go to try it out. You may get supporters of Bitcoin to use it just to promote Bitcoin.

It can be done, but most other companies use Bitpay as a middleman. Amazon doesn't seem to be the type that would want a middle man. If they are trying to implement their own crypto payments (so they won't have to pay fees to third parties) it would take them some time to get that ready. Acquiring something like Bitpay would take time too because of negotiations.

The fact that Amazon isn't rushing it suggests that they are trying to go big on crypto and not just "get it done somehow".

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Regulation would be a big challenge for such adoption as a US based company, i doubt there would be other technical challenges as well to integrate bitcoin in their current payment system which has so much price structure and the fluctuating price of bitcoin might just kill these. Rising price doesn't mean people are actually using it, they are just buying from exchange and would be sold on exchanges. So the actual volume of using bitcoin would be insufficient to support companies like Amazon. This news just make price higher and not encouraging Amazon at all

dulce dd121990

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Why not? amazon is an online shop that caters also online payment, it is so possible that amazon may integrate bitcoin as a payment. As i heard other online business also accepting bitcoin as a payment and that is a great idea that amazon may also accept bitcoin for customer's payment.

GreenCoin22

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As Amazon is focused on internet and related things, integrating Bitcoin is a move that goes well with Amazons strategy. On the other hand if Amazon integrates this Bitcoin I guess that Bitcoins price will be huge and will go up to 10.000$. So I don`t know if Amazon will have success or not with Bitcoin but as much as the topic will be in discussion the price of BTC will be stable or rise even more.

aardvark15

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I don’t see why it couldn’t be done. Other companies like Overstock.com have allowed Bitcoin as a payment method and it worked fine when I used it. There is no reason why a company can’t allow Bitcoin as a payment method, especially online because it is so easy to do from your own computer or smartphone. My assumption is that if Amazon provides this alternative, you will see an increase in sales temporarily as people go to try it out. You may get supporters of Bitcoin to use it just to promote Bitcoin.

sheilasekarbumi

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As my informations, Amazon accepted Bitcoin in payment so i guess they could integrates Bitcoin for sure. Hope the next coin they accept will be Etherum. If it's true , cryptocurrency will have a bright path to becomes the main method payment in everything.

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▰▰▰ MODULE ▰▰

Quote from: iamTom123 on November 02, 2017, 10:10:33 AM

Quote

Amazon is the largest e-commerce marketplace globally, and within a span of few years, it has quadrupled its market cap to $532 billion. It processes an unprecedented amount of orders and hence, the integration of payment technology or digital currency would require a prudent testing process and cautious implementation.

At this point, the demand for bitcoin is evidently increasing at an exponential rate, as the price of bitcoin recently surpassed the $7,000 mark for the first time in history. But, the scalability issues of bitcoin cannot be dismissed, since the size of the bitcoin mempool has increased back up to 50 million and the block size has remained above 1.04 MB in the past few days.

Currently, some of the most widely utilized bitcoin wallet platforms such as Blockchain and Coinbase are recommending transaction fees above $1. With SegWit-enabled wallets, the fees would likely be below $0.7, since as hardware wallet manufacturer Ledger stated, SegWit provides at least 35 percent reduction in transaction fees.

But, Amazon cannot expect general consumers or beginner bitcoin users to use SegWit-enabled wallet and enjoy lower fees, and in the short-term, the company may receive complaints in regards to high fees.

Read more here...

The recent buzz on the possibility that soon Amazon can be adopting Bitcoin as one of their medium of exchange or transactions is sending excitement all over. This can be a holy grail we are all waiting for. However, there are those who seriously look into the matter and concluded that there are still some big hurdles that have to be ironed out before Amazon would really start working for this dreamed adoption.

I am sure that all of us here are already familiar with that one big hindrance and we are also complaining about this since time immemorial. We keep on hoping that soon this thing can be given the right solution as paying a high transfer rate is actually not what Bitcoin is made for. Maybe Amazon is really just waiting for the right time to come and take Bitcoin but for now they must have concluded to temporary shelve the whole idea for reasons we already know.

Yeah!that's great idea,if amazon can integrate bitcoin in one place ,like social media,online shopping,any kinds of news about bitcoin in order to synchronize all.but in terms of platforms is different different issue because all trasing site's have thier own choice because they have come from different country.

etherflyerofficial

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I think it's a good idea for bitcoin to become a common use currency and starting from those online shopping sites, like Amazon, eBay etc.
But not just for BTC, also for ETH as well.

Pleione527

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It's possible Amazon is one of the company who love the idea of on-line selling and transactions and I think they will love the idea of bitcoin besides they will benefit a lot if they accept bitcoin as a legal tender especially now that the value keeps on rising. We are now heading into a technological market as these online shopping has been welcome by a lot of countries now and so as the digital currencies like bitcoin.

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