Topic: Reason why eBay/Amazon will Never accept bitcoin (Read 275 times)
An easy answer for this is that, people in eBay/Amazon might not be really open to the things and opportunities bitcoin can provide. Meaning, they believe bitcoin yet. However, this cannot be always the case. Things always change. The things may have said never, in time...things will change.
I dont know about eBay, but amazon started accepting bitcoin as payment system, recently there was a news about that.
Bitcoins popularity increases day to day, people's using it in trading, investment and as exchange with goods. So merchants and retailers have to consider demand of population for use of bitcoin.
But to use bitcoin in routine, there are problems like fluctuations in value, no physical appearance and high transactions fees.
Bitcoins popularity increases day to day, people's using it in trading, investment and as exchange with goods. So merchants and retailers have to consider demand of population for use of bitcoin.
But to use bitcoin in routine, there are problems like fluctuations in value, no physical appearance and high transactions fees.
True, there is no point in adding BTC as a payment option anymore, recently what Valve did with Steam. But they can always add other altcoins IF they deem that crypto is competing strongly with fiat at some point of time.
Ebay, amazon and other companies like them will never accept bitcoin. The main reason:
1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.
Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
I mean if Amazon is going to be shipping from one of their warehouses they why shouldn't they be accepting Bitcoin or other cryptos? It's not like they can scam their customers and be able to justify it as there being someone else scamming them. Having products in their warehouses (while small) would make it really easy to avoid any sort of scamming and act as an effective escrow system for all parties.1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.
Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
It's not like something of this design is hard, just something that I don't think you considered.
Ebay shouldn't be accepting Bitcoin, ever. That would be a full-on clusterfuck.
No, that's only in regards to Amazon FBA sellers. Many amazon sellers ship their own products themselves, and not through Amazon's warehouses...
actually, I am not to thinking too serious about this as I don't use my bitcoin to buy something on ebay or amazon. I prefer to withdraw my bitcoin to fiat and buy something in offline store. it still needs time to see bitcoin could be accepted in online store especially a store online like ebay and amazon or else. and if I want to buy on ebay or amazon, I think I can use my paypal account and pay with paypal. bitcoin still have many things to be fixed before can be used as payment in online store.
Ebay, amazon and other companies like them will never accept bitcoin. The main reason:
1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.
Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.
Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
First, bitcoin does not need eBay or Amazon, credit card or PayPal works just fine for these platforms.
In every e-commerce platform, using escrow in every transaction is a must even though it takes few days for a refund if the transaction cancelled. It's better than not using escrow.
Actually, the big problem for bitcoin to be accepted world-wide is scale problem. Bitcoin can't afford too many transactions every second, higher fees and long confirmation time.
Of course, many inconveniences would be avoided, although the purchase and the sale could be made ptp, where the buyer requests the product and freezes his bitcoin in such a way that when the seller guarantees the delivery of the product, these btc are delivered to his account
Bitcoin has high transaction fee and low speed now. It is not good for small/regular purchase on amazon and ebay.
Ebay, amazon and other companies like them will never accept bitcoin. The main reason:
1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.
Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
I mean if Amazon is going to be shipping from one of their warehouses they why shouldn't they be accepting Bitcoin or other cryptos? It's not like they can scam their customers and be able to justify it as there being someone else scamming them. Having products in their warehouses (while small) would make it really easy to avoid any sort of scamming and act as an effective escrow system for all parties.1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.
Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
It's not like something of this design is hard, just something that I don't think you considered.
Ebay shouldn't be accepting Bitcoin, ever. That would be a full-on clusterfuck.
Ebay, amazon and other companies like them will never accept bitcoin. The main reason:
1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.
Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.
Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
Fair points. It's undeniable that there are challenges. Bitcoin is still in its infancy so merchants haven't really adapted to it yet. I'm sure there will be more efficient solutions to these kinds of problems in the future.
Also, I while I agree they wouldn't want to deal with the problems associated with accepting Bitcoin, can you say for sure they won't consider it if they stand to gain a significant amount of money from it? These large companies are agile and are always looking into ways to adapt with the changing world. If the people starts to demand it, they will have to oblige. We're nowhere near that point though.
The problem is really well solved. It's no problem looking for a third party to pay for the trusteeship. Like eBay, big companies like Amazon do this very simply. The most important thing is the cost of bitcoin, and it is possible to scare shoppers from the high transfer costs of a bitcoin on a shopping site.
Ebay, amazon and other companies like them will never accept bitcoin. The main reason:
i wouldn't say never, and the reason you mentioned is not it. the only reason why they have not accepted bitcoin and probably won't for a long time is lack of interest. people are not so willing to spend their bitcoins because of the constant price rise everyone sees bitcoin as a pure investment these days.Quote
1) There are a lot of scammers in the bitcoin sphere and we know that already.
there are scammers everywhere, saying there are a lot in bitcoin is not right.Quote
The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop.
..or he ships the laptop and Tony does a charge back and gets his money back too. and now George has to go beg to Paypal that he was scammed and be patient as Paypal ignores his ass for as long as they want.try searching how many people are being scammed with Paypal charge back every day.
Quote
After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account.
~
I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
so you are saying these large businesses are OK with constant reports of Paypal charge back and scams but they are worried about reports about stuck bitcoin in escrow?!! that doesn't make any sense! ~
I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.
I don't think scam is the first issue that they have, I think Amazon and other big companies don't accept bitcoin because of its unpredictable price, high fees and high confirmation times. That was the reason why steam also stopped accepting bitcoin. Bitcoin in its current state is just not viable to use as an currency.
There are two options for such organization in my view: block chain technology is built to solve issues in whatever form it may, eBay amazon and other might come up with their own block chain which could tackle such issue but the question would be on centralization or decentralization? But with a proper planning and market survey, they might come up with their token which would help them handle such situation. And the second option is, make an escrow. Safety of their customer means a lot to them also so they can actually consider these two options... They will only create escrow related issues special help desk, that's what is called organization.
Its fine, because many vendors will help bitcoin users to use their bitcoin. Actaully we can use vendor like purse.io to buy goods in amazon. Those online shop only want USD as the payment methode but vendors was help up.
The described issue is not really a problem. On such big marketplaces sellers should have a public rating. While opening disputes they may have some big financial loses or even lose their place on the marketplace. This is almost how it works on aliexpress. People will always have different ways for scaming someone. Trust rating is a great things. For adding Bitcoin to the biggest problem is dofferent legal issues. I belive that marketplaces will cope with it, we just need to take some time.
eBay, Amazon, and other similar sites with such service can easily fix this solution by them being the escrow to these transactions. Same feature with sites like purse.io, whereas the seller doesn't automatically receive the bitcoin, but it stays with purse.io until the buyer accepts and confirms that they've received the correct product.
ok but payp as middle man is not perfect either , it's scams zoo.
at least with bitcoin the power is decentralised ... you will not beg for justice .
at least with bitcoin the power is decentralised ... you will not beg for justice .
That's the problem. If I accidentally sent .8 btc to a address I didn't intend to, there's no way I can get it back unless the owner of that address sends it back to me(And many, many btc addresses are "lost" now). If someone scams me, I can't do anything to get it back. If I'm hacked, same thing. If I lose my private keys or say my computer hard drive, my bitcoins are also gone forever.
If someone hacked my paypal and sends the $ to another acc, I can dispute it and paypal will refund me(that one's actually happened a few years ago). Even your money in banks is protected, at least in the usa.
There is no such protection for bitcoin, and there can never be such protection if you want it to stay "decentralized" as you said
If we look to a few weeks ago, where Steam (The PC game platform) cut off BTC support, the people at Valve justified this with two main reasons. The volatility of the value of Bitcoin and also the almost stupidly high transaction fees. On a place like Steam, where games can be from a few cents, this is ridiculous.
Places like eBay and Amazon see Bitcoin as a large issue in terms of logistics, as their systems are wired up for money - and implementing a solution for bitcoin may not be worth it for them in the long term. But hey, we might be surprised if they do start to support it, as there may be some advantages for them too.
If they accepted Bitcoin then they would lose some money when trying to cash their holdings on an exchange, they should know the risks about sending a large amount of money to an exchange. That money can get hacked, traced, the wallet address could get illegal file links sent to it, etc. Places like eBay and Amazon see Bitcoin as a large issue in terms of logistics, as their systems are wired up for money - and implementing a solution for bitcoin may not be worth it for them in the long term. But hey, we might be surprised if they do start to support it, as there may be some advantages for them too.
If we look to a few weeks ago, where Steam (The PC game platform) cut off BTC support, the people at Valve justified this with two main reasons. The volatility of the value of Bitcoin and also the almost stupidly high transaction fees. On a place like Steam, where games can be from a few cents, this is ridiculous.
Places like eBay and Amazon see Bitcoin as a large issue in terms of logistics, as their systems are wired up for money - and implementing a solution for bitcoin may not be worth it for them in the long term. But hey, we might be surprised if they do start to support it, as there may be some advantages for them too.
Places like eBay and Amazon see Bitcoin as a large issue in terms of logistics, as their systems are wired up for money - and implementing a solution for bitcoin may not be worth it for them in the long term. But hey, we might be surprised if they do start to support it, as there may be some advantages for them too.
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