Topic: What will happen for Amazon to accept Bitcoin? - page 4. (Read 901 times)
I guess they must had heard the news about paypal integrating crypto so I am very sure they must have one way the other consider the use of bitcoin as a payment processor in the past but they must have also consider the volatility and other cons. Amazon is an e-commerce company while paypal is online payment platform so they are into entirely different business. They might consider accepting bitcoin indirectly through another payment gateway and might not be directly integrated on their platform
Amazon will be watching each and every move on the cryptospace. This means whether the big firms accepting bitcoin as payment for products and services making any impact or demand is watched. Based on the outcome will be the decision of Amazon on bitcoin acceptance on their retail and all forms of commerce.
Amazon will benefit more from bitcoin than bitcoin benefit from amazon. I didn't notice any remarkable price pump with Paypal bitcoin adoption, paypal benefit more from the adoption, they have access to hold traders fund and bitcoin. Amazon may help adoption and trust but not a remarkable influence on price if the news didnt come at good time. Bitcoin will get more volatile in few more weeks and I dont think it will be wise to be an active trader on amazon when the price is going up.
I recently read that Amazon is interested in bitcoin and that the company owns several thematic domains like amazonbitcoin.com.
https://www.cnbc.com/2017/11/01/amazon-buys-crypto-domains-bitcoin-ethereum.html
But the very first obstacle to the introduction of Bitcoin into the payment system remains the volatility of Bitcoin. Today, purchases on Amazon can be made using BitPay if you purchase a gift card that is paid for in cryptocurrency.
There is no doubt that Amazon will be interested in Bitcoin, and as Danny Scott says, it's just a matter of time.
https://decrypt.co/48142/what-would-it-take-for-amazon-to-accept-bitcoin
https://www.cnbc.com/2017/11/01/amazon-buys-crypto-domains-bitcoin-ethereum.html
But the very first obstacle to the introduction of Bitcoin into the payment system remains the volatility of Bitcoin. Today, purchases on Amazon can be made using BitPay if you purchase a gift card that is paid for in cryptocurrency.
There is no doubt that Amazon will be interested in Bitcoin, and as Danny Scott says, it's just a matter of time.
https://decrypt.co/48142/what-would-it-take-for-amazon-to-accept-bitcoin
Despite being the king of crypto currency, the world's largest online selling app Amazon still didn't recognize BTC as a payment system. I think Jeff bezos is planning to launch their own coin for the payment system but still people can use BTC indirectly to purchase from Amazon as gift card, If Jeff shows green signal to BTC officially I am sure the price of BTC will boom more than expected.
All these big institution will still rush in later or sooner. Bitcoin has gained the attention of the world and this is just the starting point. Paypal is leading the stage, Amazon will come very soon and it will just continue like that for others large based institution.
2017 was just the beginning where bitcoin was gaining attention from around the world, from governments, central banks, institutions to average joe's So it's a long way since we started and here we are again, in the limelight since bitcoin is very very bullish that Paypal can't resists not to join the bandwagon this early. As far Amazon, there were rumors like two years ago and it wasn't realized. Maybe they still don't want to accept bitcoin just like the rest of online merchants because of bitcoin's volatility, simply as that. All these big institution will still rush in later or sooner. Bitcoin has gained the attention of the world and this is just the starting point. Paypal is leading the stage, Amazon will come very soon and it will just continue like that for others large based institution.
If they rush towards Bitcoin, then it will be great news. But if they don't, then I won't be much surprised. The breakthrough with PayPal came more than a decade after the first Bitcoin was mined. If you check the old threads (especially the ones from 2013 and 2014), there was a lot of optimism from the users that Bitcoin would go mainstream by 2015 or so. But it never got realized. Anyway, those who remained loyal are getting rewarded now.
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In your opinion if Amazon accepts bitcoin, where will its value go and what do you think about this matter?
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You mentioned a lot about the reputation of Amazon and seems like about to assume that Amazon can put Bitcoin's price to the moon because for sure that people would start using Bitcoin that way.In your opinion if Amazon accepts bitcoin, where will its value go and what do you think about this matter?
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Thing is it applies the same as other digital payments like credit cards but still not everybody applies for it nor affords it though cards are different from Bitcoin when it comes to centralized and decentralized payments.
I believe that even Microsoft and Steam adopted Bitcoin back in the days but later then pulled it out, but did that affect that price at all? Not reall.
All these big institution will still rush in later or sooner. Bitcoin has gained the attention of the world and this is just the starting point. Paypal is leading the stage, Amazon will come very soon and it will just continue like that for others large based institution.
As far as I know, Amazon has no ideological issue with Bitcoin. But they don't want to deal with the volatility, legality and tax related issues which can come up if they accept BTC payments directly. And this is where PayPal comes in. Hopefully by mid-2021, PayPal will make it possible to make payments with BTC. That would mean that users would be able to do the same in Amazon, using PayPal.
Amazon does a huge number of transactions and has every possible transaction system on board. The major hurdle in adopting bitcoin would be the decision regarding fees. Whether to pass to customer or bear them. LN could be useful here if Amazon decides to become a node themselves.
For these giant enterprises, adopting bitcoin is a huge decision to make as it will mean endorsing bitcoin. If Jeff Bezos was more like Jack Dorsey though, this would have been exciting. Another point to maybe consider is that Amazon may have some plans for its own AWS before endorsing bitcoin. Bitcoin's PoW doesn't really need the cloud.
For these giant enterprises, adopting bitcoin is a huge decision to make as it will mean endorsing bitcoin. If Jeff Bezos was more like Jack Dorsey though, this would have been exciting. Another point to maybe consider is that Amazon may have some plans for its own AWS before endorsing bitcoin. Bitcoin's PoW doesn't really need the cloud.
Amazon is a shrewd business organization, and they will never get into anything without first making sure that they are gaining more than losing money. I am sure that they studied this possibility of adding Bitcoin as a mode of payment but decided that this is not yet the right time. Or maybe they are not seeing a big demand yet. They must have seen many online and offline retailers adopting Bitcoin yet not having significant and sustainable volume of business from people holding cryptocurrency. With the way things are currently holding, Amazon does not need Bitcoin, and we in this industry are putting it that it is Bitcoin that needs Amazon.
Amazon is working like a usual store. No that big advantage if they will accept Bitcoin but just another payment method. I also doubt customers will use mostly bitcoin payments here as it's more convenient to pay them thru bank cards.
Paypal on the other hand will take advantage of crypto-payments because of fees. And that's their service after all, payment processing system.
But whatever it is, it will be a good domino effect if Amazon will accept bitcoin as other merchants will surely follow. More acceptance, more awareness.
Paypal on the other hand will take advantage of crypto-payments because of fees. And that's their service after all, payment processing system.
But whatever it is, it will be a good domino effect if Amazon will accept bitcoin as other merchants will surely follow. More acceptance, more awareness.
I can foresee that sooner or later, Amazon will also accept bitcoin or other alts in their payment system. It will be a domino effect when that happens. Other large ecommerce sites will follow. I guess, they are already thinking this by now.
Amazon is working like a usual store. No that big advantage if they will accept Bitcoin but just another payment method. I also doubt customers will use mostly bitcoin payments here as it's more convenient to pay them thru bank cards.
Paypal on the other hand will take advantage of crypto-payments because of fees. And that's their service after all, payment processing system.
But whatever it is, it will be a good domino effect if Amazon will accept bitcoin as other merchants will surely follow. More acceptance, more awareness.
Paypal on the other hand will take advantage of crypto-payments because of fees. And that's their service after all, payment processing system.
But whatever it is, it will be a good domino effect if Amazon will accept bitcoin as other merchants will surely follow. More acceptance, more awareness.
Adding bitcoin as a payment method is a great idea. It will definitsly makes the price soaring cause of the human reactions. Though, I personally think that bitcoin will not often be used on this platform. Using visa or wire banks offers them more discount and cashback which is very attraction to consumers. Moreover, the transaction fee is an annoying issue which make people think before using bitcoin to purchase a product.
In my opinion, other cryptocurrencies should be adopted in these online marketplace rather than bitcoin. Bitcoin is consdered as digital gold which makes its price higher and higher. Though this mindset has blocked bitcoin from becoming a form of currency
In my opinion, other cryptocurrencies should be adopted in these online marketplace rather than bitcoin. Bitcoin is consdered as digital gold which makes its price higher and higher. Though this mindset has blocked bitcoin from becoming a form of currency
First and foremost Amazon has some good intentions in not accepting bitcoin as a viavle payment method. For one, the coin is so volatile it could cause an unprecedented decline in their profits. Aside from that, the transaction fees Amazon will have to shoulder to carry on with this will far outweigh the profits they will earn using bitcoin. In the case of Paypal, them accepting bitcoin is not to procure them as a form of payment method, but as a locked-in investment.
Users are expecting Amazon to do it, but behind it there are still too many risks when they use Bitcoin as a means of payment, which is the drop in price as well as a huge cost to operating it, is this too much of a problem?The main problem why merchant doubt and hard to decide this adoption is the volatile market since there's a high possibilities that they will lose a huge amount of money if the market crash, remember they are not a cryptocurrency trader so for sure they cannot stand to hold for longer times and might their business collapsed if market goes bad for that matter.
But the one I see the benefits of it if amazon accept Bitcoin is the transaction will continuously flow and that would be a healthy scenario for Bitcoin.
First and foremost Amazon has some good intentions in not accepting bitcoin as a viavle payment method. For one, the coin is so volatile it could cause an unprecedented decline in their profits. Aside from that, the transaction fees Amazon will have to shoulder to carry on with this will far outweigh the profits they will earn using bitcoin. In the case of Paypal, them accepting bitcoin is not to procure them as a form of payment method, but as a locked-in investment.
Users are expecting Amazon to do it, but behind it there are still too many risks when they use Bitcoin as a means of payment, which is the drop in price as well as a huge cost to operating it, is this too much of a problem? If Amazon does what PayPal did, then it will make no difference.
But if Amazon integrates a payment system which can be used to deposit real btc there, it will be a game changing decision from Amazon and will be a gift to the Bitcoin community and can only work if hefty discounts are given by Amazon on purchases through crypto. Since the market sentiments are already too much bullish and we are rolling on btc, this news will add some extra condiments to the flavor the markets are already giving us.
If that happens I think BTC will fly above $20,000 But if Amazon integrates a payment system which can be used to deposit real btc there, it will be a game changing decision from Amazon and will be a gift to the Bitcoin community and can only work if hefty discounts are given by Amazon on purchases through crypto. Since the market sentiments are already too much bullish and we are rolling on btc, this news will add some extra condiments to the flavor the markets are already giving us.
First and foremost Amazon has some good intentions in not accepting bitcoin as a viavle payment method. For one, the coin is so volatile it could cause an unprecedented decline in their profits. Aside from that, the transaction fees Amazon will have to shoulder to carry on with this will far outweigh the profits they will earn using bitcoin. In the case of Paypal, them accepting bitcoin is not to procure them as a form of payment method, but as a locked-in investment.
If Amazon does what PayPal did, then it will make no difference.
But if Amazon integrates a payment system which can be used to deposit real btc there, it will be a game changing decision from Amazon and will be a gift to the Bitcoin community and can only work if hefty discounts are given by Amazon on purchases through crypto. Since the market sentiments are already too much bullish and we are rolling on btc, this news will add some extra condiments to the flavor the markets are already giving us.
But if Amazon integrates a payment system which can be used to deposit real btc there, it will be a game changing decision from Amazon and will be a gift to the Bitcoin community and can only work if hefty discounts are given by Amazon on purchases through crypto. Since the market sentiments are already too much bullish and we are rolling on btc, this news will add some extra condiments to the flavor the markets are already giving us.
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