Can Amazon Integrate Bitcoin? - page 4.

neonshium

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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.

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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.

No they don’t even have to. I don’t know why people are still talking about this, thought that people can make use of purse.io to buy whatever they need from Amazon, even with some discount, so why are they still talking about Amazon accepting Bitcoin? Makes no sense.

And it’s not a must you will make use of Bitcoin to buy whatever you need, you can also change the Bitcoin to fiat and buy what you need from Amazon.

johnmartinda

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There was a rumour that amazon is going to start using bitcoin and provide bitcoins for sale also.

cahbagus555

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I am believe if bitcoin regulated by government and accepted as currency or payment, many merchant will integrate with bitcoin. They will take advantages on bitcoin because cryptocurrency market value always increasing.

tonyvo2017

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I guess they can not. Because Bitcoin is anonymously wholly. They run the bitcoin in silence and nobody knows who they are. The founder of Bitcoin was quiet and never wanted to reveal his personal information to the world. so Amazon can not find the cooperation.

wahyu wida

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Quote from: airdrophunter on July 15, 2018, 11:18:56 PM

That's very possible because there are so many big industries that are already accepting bitcoin or cryptocurrencies for their products like Steam, Dish Network, Wikipedia, and even Microsoft are just one of the industries out there who are into blockchain technologies.

right, is possible. we know bitcoin in the development stage and if many custumer amazon are using btc, or there is a request for it I think amazon will do it too

jcojci

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actually, Amazon can easily to integrate their payment system with bitcoin but I think they need to learn more about bitcoin so they are sure that their decision to add bitcoin as the payment can give another solution for their customer. and soon, if everything is set up, Amazon will add bitcoin so we can buy something that we want in the Amazon and we don't have to use a credit card or debit card or paypal to pay.

airdrophunter

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That's very possible because there are so many big industries that are already accepting bitcoin or cryptocurrencies for their products like Steam, Dish Network, Wikipedia, and even Microsoft are just one of the industries out there who are into blockchain technologies.

Skyenet

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I guess that I have already heard something like that that you can already make your payments for the good text you have bought from the Amazon and pay them with your bitcoin wallet.

Reagan_alvaro

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I think in a few years it would be weird if they would not accept cryptocurrency when doing the policy. But we should not underestimate the power of US and central bank establishment, they can always make some problems.
While amazon put itself in the market as an innovative company. They've invested big money for drones and they will take part in megacity reconstruction in the Saudi Arabia desert.

DOLONCHAPA

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I don't think so . Because amazon is a giant company and have a millions costumer,just imagine it if their costumer using BTC and the price is down. What will happen ? What's the answer? Although bitcoins have a huge popularity at the present time. But at least for now they will not integrate it until it's a bit stable or until it find it place. On the other hand there is no option to refund if there create any mistake . So that's may be the another point.

Lion_ashy

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Lol what exactly are they waiting for since all these while? This is a good time for them to still adopt bitcoin though. Just my little opinion.

droptableguy2

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Quote from: mak2017 on July 15, 2018, 09:22:34 AM

Quote from: shaadsufi on July 15, 2018, 05:26:33 AM

There was some news regarding Amazon and bitcoin a few weeks ago, no the integration of Amazon and bitcoin is not possible but the other hand Amazon is already working on integrating blockchain technology to its data centers to prevent loss of data for customers and increase security

I've read about that too, in fact i think Amazon has also other concerns about bitcoin and why not to accept it.
Amazon, just like any other merchant, needs stable payment option which is widely available to all customers.
Crypto hasn't gone that mainstream so far, so i guess Amazon will just launch something on their own, and maybe as the time goes we will see some options to pay with crypto.

Your information is very good. I also think amazon also have their own strategies, their own policies. I also think they will have their own solutions and solutions. Hope we will see something new, from amazon. That is my opinion.

mak2017

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Quote from: shaadsufi on July 15, 2018, 05:26:33 AM

There was some news regarding Amazon and bitcoin a few weeks ago, no the integration of Amazon and bitcoin is not possible but the other hand Amazon is already working on integrating blockchain technology to its data centers to prevent loss of data for customers and increase security

I've read about that too, in fact i think Amazon has also other concerns about bitcoin and why not to accept it.
Amazon, just like any other merchant, needs stable payment option which is widely available to all customers.
Crypto hasn't gone that mainstream so far, so i guess Amazon will just launch something on their own, and maybe as the time goes we will see some options to pay with crypto.

ohkkstaaahp

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maybe. If amazon decides to put electronic money into payment for the purchase of goods. will be one of the things that make electronic money spread

shaadsufi

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There was some news regarding Amazon and bitcoin a few weeks ago, no the integration of Amazon and bitcoin is not possible but the other hand Amazon is already working on integrating blockchain technology to its data centers to prevent loss of data for customers and increase security

2@abcdeeply

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If Amazon accepts BTCs in the purchase of goods, it is an advantage for the cryptographic economy, as this would boost trading volumes of coin and higher prices.

roadwell890

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Bitcoin's integration as a payment gateway in Amazon is great news
Jeff Bezos must be ready to think carefully about the integration of Bitcoin, whether with Bitcoin marketplace will have a good impact or even will be bad

weblouartisan

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Quote from: mark781 on November 02, 2017, 10:39:38 AM

For the moment I don't think they are interested to implement bitcoin as payment.

As of today, amazon is already accepting cryptocurrency as a payment method in their ecommerce website and that is the reason why government should be legalizing cryptocurrency in their country.

jitenrajput

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ENCRYBIT — FUTURE OF CRYPTOEXCHANGE

Amazon is a big tech giant and capable enough to implement blockchain or acceptance of cryptocurrencies in exchange of their goods. I've heard that it is planning to start accepting bitcoin. Now, whether it is real news or rumor, time will reveal.

As far as US government is concerned, they haven't been tough in case of crypto.

squog

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Amazon adopting bitcoin or any virtual currency in their company is huge. But we fail to see the reason why not small businesses actually adopt virtual currencies in their businesses. The reason being that virtual currencies themselves are so volatile that it actually discourages investors to jump in. Maybe with the pull of amazon they couod do it, but I doubt they will.

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