Reason why eBay/Amazon will Never accept bitcoin - page 2.

1 currency now

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Quote from: RealJoshuar on December 18, 2017, 08:11:23 PM

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 am not worried if Bitcoin gets accepted by them or if they do get accepted. The money can get spent anywhere.

squatz1

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They have no need to, there's no reason for these companies to accept Bitcoin because they're so big that you're going to use them either way. Why are they going to spend money on implementation when they can just stick with what they have now, it's working and people know it. If it ain't broken, don't fix it.

And the BTC fees, it's horrid right now and no one would even use BTC.

reck1ess

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Quote from: RealJoshuar on December 18, 2017, 08:11:23 PM

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

In addition to this Bitcoin has a skyrocketing fees and also sometimes the transaction goes up to 3 days before it can get confirmation. Maybe they can do bitcoin payments if they make their own wallet so they can gain control and for instant transactions.

Maus44

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the reason why ebay doesn't accept bitcoin is because there's not enough demand and the fees are currently high. Huh

dynospytan

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Quote from: RealJoshuar on December 18, 2017, 08:11:23 PM

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 would like to add one more thing why ebay and amazon don't accept bitcoin. We all know that bitcoin is volatile so for example, George wants to sell his laptop at a cost of $1500 worth of bitcoin and tony wants to buy it. So if tony pays George in bitcoin, he might get lose or win the price of his laptop because of bitcoin volatility.

BitHodler

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I personally don't see the benefit of PayPal accepting Bitcoin in whatever shape or form. They don't really need it since they have everything running in a smooth and greatly adopted way already.

Amazon might at some point come over, but I don't know how many people will spend their coins. If you spend now for example, you know up front that you're going to regret it due to the increasing price.

If you bought 1 TV last year, it means that currently you could have bought like 18 to 20 TV's. In order to tackle this, we need to have a stable price, otherwise people will just continue to see Bitcoin as investment/store of value.

eminemcookie

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Quote from: RealJoshuar on December 18, 2017, 08:11:23 PM

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

This is where coins like Utrust come in, they aim to be a rival to paypal in the future, their ICO completed a little while ago. Bitcoin won't be accepted by those sites for the reasons you mentioned, security and volatility. The only case it might be accepted is buying directly from Amazon themselves.

someoldcoins

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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 .

RealJoshuar

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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

Topic: Reason why eBay/Amazon will Never accept bitcoin - page 2. (Read 223 times)