Can Amazon Integrate Bitcoin? - page 17.

iamTom123

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Quote from: jhenfelipe on November 02, 2017, 02:39:17 PM

Given the fact that Amazon is the largest e-commerce marketplace, they will definitely consider a lot of things before implementing Bitcoin Payments. It's not impossible, maybe just a matter of time. In regards with cryptocurrency domains, I also think that the reason why Amazon registered those as of now is for security reasons (anti-fraud/illegal activity using the brand name).

I agree with your opinion. Amazon will not get into something half-baked as it can possibly affect their name in the world of e-commerce and in fact Amazon get into its top position due to careful, precise and detailed planning. When the time will come that it would be ready to accept Bitcoin then it would be happily announcing it to the whole world. We are just hoping that it would really consider the idea and not just dismiss it without serious consideration. The thing here is that they are looking at it from the view of revenue generation otherwise it would be a big waste of time and money on its part.

Registering domains for the sake of protecting one's name is a good strategy actually and this has been adopted by many big names in different industries and yes even by celebrities I heard. Whether Amazon would be commercially using those domains that we would soon see...they can just parked them if they want anyway. The world of Bitcoin is now closely watching moves from Amazon and many are looking for clues for the possible future inclusion of Bitcoin or cryptocurrency into its very wide and profitable e-commerce platform.

avikz

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Amazon can certainly do that but I am sure they will first try to implement it for a testing period to know how it is going and then they will go ahead with full integration for all countries. The major challenge for them will be the price dynamics. They will have to use a price ticker to start using bitcoin as a payment option for their website because the price of bitcoin is not stable at all. So the product price in bitcoin will have to be dynamic unless they want to make a loss in every transaction.

Aureliusy

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They are old style ecommerce. They will probably make a deal with google-coin , facebook-coin or apple-token. ALL TBA on short notice.

_Dawid_

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For sure Amazon can do anything, also can integrate the bitcoin if people will really demand it and the crypto will become much more popular and not discriminate. But in my opinion when that time will come the bitcoin's price will be much higher than it is now. So what if Amazon will create own crypto currency? And the rest grat company go this way? The bitcoin will become a main medium of exchange but not a payment method because of its features.

BCEmporium

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Quote from: bitjoin on November 02, 2017, 12:40:26 PM

Since paypal is basically ebay owned and not accepted at amazon it does make sense they might incorporate a crypto as a way to attack paypal. Maybe they will launch amazon coin we will see.

That's an extremely interesting perspective that I haven't thought of yet. If Amazon actually went this way and allowed crypto payments through its open market and perhaps even implemented an auction style format for third party sellers they could seriously eat into Ebay's revenue.

Icaraswipeout

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This "Amazon case" that we are all waiting for will raise a contradiction:

- The more the BTC value grow, the more shops and regular business are interested in being paid in BTC.

- The more the BTC value grow, the more BTC holders want to keep it as an investment and rather like to pay their expenses with Fiat.

Hopefully, with the increasing market cap, the volatily will reduces, BTC holders will expect more reasonable returns and start to use it for general purpose.

TimtheYoutuber

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Amazon wont be able to run from crypto currency forever!

I made a YouTube video discussing my thoughts on it : https://www.youtube.com/watch?v=Gm3_9VCxXAc&t=0s

Lampaster

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Your optimism is boundless. Lol! You describe the situation from a futuristic movie. In life everything is much more prosaic. Even if the fact that Amazon will allow customers to make purchases with bitcoin it does not change globally the situation. Users will still keep the coins to become rich in the future.

Donaldturp

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Quote from: suzanne5223 on November 02, 2017, 02:55:17 PM

Yes, bitcoin is taking over the world slowly and for amazon to announce that they will be accepting bitcoin. I think amazon will really integrate bitcoin and other successful cryptocurrency pretty soon.

If they start to accept bitcoin, we enter a new bitcoin era. This means bitcoin should turn into a legal asset in USA and other leading countries and thus price start to rise very harshly.

hacker1001101001

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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.

Amazon is already a revolution in the online shopping and it is also heading towards another revolution of using bitcoin for online shopping sites payment. Amazon has already announced that it will take bitcoin into consideration ass one of its payment method. Google has also started taking interest in bitcoin and want to take its most advantage for them. Amazon has made many other shopping web sites and other websites too to take bitcoin into consideration and use it for some purpose. Bitcoin is becoming more and more famous due to this and its price is also increasing every day. WHen bitcoin will be added to amazon as a payment method that more and more people will com to know about bitcoin i think most of the internet users will know it and they will try to invest in it and learn its earning methods so this idea of amazon is great. There are some obstacles in this but the can be cleared for making a revolution in shopping industry.

Kronos21

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It seems to me that Amazon is not going to use bitcoin. They just use this news to the popularity of bitcoin is to make a PR. Any news about this intention the lightning spreads all over the world by all news agencies. It's good free advertising. Sorry that this is so. From making payments with bitcoins would benefit all. The sellers and buyers.

FrueGreads

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I think amazon is just observing right now. They are buying domain names involving crypto, like amazonethereum.com, amazoncryptocurrency.com, amazoncryptocurrencies.com and of course amazonbitcoin.com. This does not mean that they will adopt bitcoin right now, but it definitely means that they are aware of crypto markets and are watching how everything evolves. I think they will make the move eventually, but they will probably give it some time and wait to see how regulation is handled.
Bitcoin is still evolving, and I think they will only adopt it when it gets stable. The competition will get into bitcoin to get new clients etc, but Amazon, as a market leader does not need that, so they will probably only go into bitcoin when the coin goes mainstream.

suzanne5223

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Yes, bitcoin is taking over the world slowly and for amazon to announce that they will be accepting bitcoin. I think amazon will really integrate bitcoin and other successful cryptocurrency pretty soon.

Domenc

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Bitcoin has become a global phenomenon now and it is possible that Amazon may introduce Bitcoin as a payment method soon.
The popularity of bitcoin is not hidden from any of the renowned companies . If amazon is really going to start accepting bitcoin then this would be a remarkable development for bitcoin . But the problem of accepting bitcoin as mean of transactions in some countries will still remain .

jhenfelipe

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Given the fact that Amazon is the largest e-commerce marketplace, they will definitely consider a lot of things before implementing Bitcoin Payments. It's not impossible, maybe just a matter of time. In regards with cryptocurrency domains, I also think that the reason why Amazon registered those as of now is for security reasons (anti-fraud/illegal activity using the brand name).

dancingnancy

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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.

It depends on the the number of users. If the potential of bitcoin as a payment by laymen is high then they will definitely implement bitcoin as a payment method. Once it becomes more stable then eventually small vendors will follow too in accepting bitcoin. Since Amazon doesn't accept PayPal this will make bitcoin a better alternative option.

TrueCryptonaire

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It was an recent buzz that Amazon in accepting now bitcoin. do not think we are going to see bitcoin adopted soon by Amazon, I would love for that to happen since I will have access to all the universe of products that amazon offers but at the same time it does not seems like the right time for a business like amazon to accept bitcoin, they are going to get more trouble out of accepting bitcoin than benefits, so the only way for them to accept bitcoin is to ignore those issues thinking that eventually everything is going to solve itself.Amazon handles a lot of orders per second and at this point in time bitcoin can't handle the same amount of transactions per second (yet). Of course it's foolish to think that, upon integration, all the transactions will be bitcoin based but in the long run it's something we should strive towards.

Krikke

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Standing on the shoulders of giants

I am sure they have already mentioned BTC during one of their internal board meetings, like Facebook, Google, Alibaba, ...
But the high-risk asset that BTC still is, does not allow these big players to integrate it into their portfolio.
When the BTC environment evolves and becomes mature and more stable I have no doubt it will be used by all tech giants out there!

Skyborn

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At some point amazon will have to integrate cryptocurrency payments. That's for sure. The question is when. Right now I feel like bitcoin is not ready yet. Amazon handles a lot of orders per second and at this point in time bitcoin can't handle the same amount of transactions per second (yet). Of course it's foolish to think that, upon integration, all the transactions will be bitcoin based but in the long run it's something we should strive towards.

BartS

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Quote from: Beerwizzard on November 02, 2017, 10:35:31 AM

Well amazon is placing itself on the market as an innovative company. They already invested huge money to drones and they were going to take part in Saudi Arabia desert megacity cunstruction. I think that in a couple years that will seem strange if they won't be accepting cryptocurrencies while performing such policy. But we shouldn't underestimate the power of US esablishement and central banks, they can always make some troubles.

I do not think we are going to see bitcoin adopted soon by Amazon, I would love for that to happen since I will have access to all the universe of products that amazon offers but at the same time it does not seems like the right time for a business like amazon to accept bitcoin, they are going to get more trouble out of accepting bitcoin than benefits, so the only way for them to accept bitcoin is to ignore those issues thinking that eventually everything is going to solve itself.

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