Topic: What are the difficulties with Amazon accepting Bitcoin payments？ - page 2. (Read 310 times)

the biggest problem Amazon (and any shop) faces is the question of customers. meaning if their customers are going to pay with bitcoin or not because just having the payment option is not enough, people have to use it and if they don't it would be like a wasted resource and it just adds extra costs which is not favorable specially for smaller shops.

otherwise the rest including integrating bitcoin, regulations, ... are all going to be easy.

The two main difficulties I can see are:

- Legal problems: Governments will be trying to apply fines to all problems they find. As dealing with bitcoin is something new, there are many legislation gaps.
For example, image the problem with taxes Amazon will have to face when converting bitcoin to fiat. Bitcoin volatility is very high, it will have to pay taxes over the sell and over bitcoin valuation.

- Technology and security risks: They will deal with many different wallets, lots of micro payments and micro transactions. They will need cold and hot wallets. They cannot be hacked, as it would be terrible for their reputation, as a tech giant.

I think this is untrue news. I haven't seen this in major crypto articles, looks like someone used fake news to get BTC price up and sell at high price. about this i have thought a lot and that is my speculation.

There is no difficulties for Amazon to start accepting Bitcoin payments and there were rumors about them accepting Bitcoin a long time back when other online shops started accepting Bitcoin but nothing happened and so is the reason other sites that started in order to take care of that and purse.io was a major site everyone used for a long time to purchase goods from Amazon and till now there is no updates whether they will be accepting cryptocurrency but i wont be surprised if we see them coming out with their own cryptocurrency.

This isn't news, it's an unverified and unreliable rumor.


Taproot is not a scaling solution, the scaling solution is Lightning Network. Until it's considered officially released and ready to be used in production, adopting Bitcoin for small payments will fail, just like when Steam dropped Bitcoin support over problems with fees and transaction times, that caused inconvenience to their customers.

Yeah you've been able to buy gift cards with bitcoin for amazon for a while now.

Bitcoin is being scrutinised by governments more than physical currency atm so that is probably the biggest problem that amazon might face, I gave up buying something with btc a while ago because I like using it as it's fast, secure and fairly easy (compared to putting in card details) but then the payment provider wanted kyc...


The last bull run also had a lot of rumours of amazon accepting btc, which then turned out to be false-if implemented, I'd expect it to be released in a few years unless they've already got something working (which is probably quite unlikely).

This may be a rumor，But does not hinder our discussion.
Amazon may soon allow users to pay in cryptocurrencies like Bitcoin

The most important news today is Amazon’s focus on Bitcoin and other cryptocurrencies, and will accept Bitcoin payments at the end of the year.
Within a few hours of the news, the price of Bitcoin rose from 32,000 to 40,000.

So what difficulties will Amazon suffer from accepting Bitcoin?
1.btc must solve small retail transactions，it must also be a large number of small transactions.I don’t know which solution to use，Maybe the time node of accepting btc payment at the end of the year is to wait for Taproot to complete，maybe even plan to use the P2P trading model of centralized exchanges.

2.If Amazon wants to release its own cryptocurrency, it is likely to be suppressed by the United States. According to previous experience when Facebook planned to release libra, issuing its own cryptocurrency may be a restricted zone in the United States.（btw I feel the "richest man effect" continues）

3.Can U.S. regulators pass Amazon’s idea?They accepted Tesla's Bitcoin payment before.But, Amazon and Tesla are different. Tesla may have fewer customers and a single product. But Amazon’s customers are thousands of ordinary people.

Regardless of whether this goal can be achieved in the end, at least it is a good thing for the short-term or medium-term market.


The impact of this news on the market has the following points
1.When the news was just announced.It is now. This is a very clear good news, which directly increases the price of Bitcoin.

2.Will more companies accept Bitcoin payments in the future?

3.Companies really make Bitcoin payments a reality.

In short, such news is a good thing for Bitcoin.
So what do you think are the difficulties that need to be overcome in order for companies like Amazon to accept Bitcoin payments?

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https://purse.io/shop
Although Amazon does not directly accept Bitcoin payments, it seems that you can purchase gift cards through Bitcoin.