Topic: What's holding back Amazon & eBay from adopting Bitcoin? (Read 425 times)
These giants are about knowing their clients, even if the client does not want it, and about getting more control and more power over the market. If you think of it, Amazon does not even accept PayPal. Bitcoin is for its own nature, difficult to control or perhaps impossible and is not particularly good for keeping track of personalised customer data. Henceforth, these companies are unlikely to have a near term strategy and in the future my take is that they will be, at most, late adopters, when mainstream is already there.
If volatility is the reason they are going to claim, they can use many payment gateways that would instantly convert the Bitcoin to any currency of their choice and it is not another excuse to not accepting Bitcoin payments.
They can also use stablecoins without the need to "cash out" Bitcoin into Fiat. This saves time and money, than either accepting Bitcoin directly or converting it to Fiat through a payment gateway. I think the main reason why online retailers are avoiding Bitcoin is because of the KYC/AML regulations from mainstream governments. After all, crypto payments don't require ID verification whatsoever. Paying with crypto is like paying with cold, hard cash. Imagine criminals buying stuff on Amazon and eBay using crypto without leaving any trace (sort of). It would force these retailers to close their business for good (due to government pressure)! Unless crypto/Blockchain tech becomes more regulated, I don't think online retailers will adopt Bitcoin anytime soon. Just my opinion
I can see few reasons why they are still holding back. I mean not yet fully confirmed bitcoin and crypto payments. As many customers are in different countries and they are considering bitcoin regulations in a certain consumer's location.
If there is no law regarding cryptocurrency, which mean there is no restrictions about it unless the government comes out and bans them altogether, Amazon is functioning in multiple countries and they could have easily accepted Bitcoin and if they wanted to KYC you customer for using Bitcoin they could have done that as well. So it is not even an excuse for not accepting.Aside from that the volatility of bitcoin can also be one of the reasons. Well, there's still a solution because they can always pair it up with USDT but those companies are still have long way to plan it well.
If volatility is the reason they are going to claim, they can use many payment gateways that would instantly convert the Bitcoin to any currency of their choice and it is not another excuse to not accepting Bitcoin payments.And it also depends on whether the government does not allow the use of Bitcoin, they are still regulated by law.
Volatility is holding the general public back from using it, and if Amazon or Ebay were to implement it that would likely only increase the amount of volatility, and they would likely have a plethora of complaints about how last week this product was worth $10, and now its priced at $50. We already have those sort of complaints when they run deals on their platform, it would only be exaggerated if Bitcoin was implemented. There's also complexity to adding Bitcoin to the platforms especially to Ebay. Bidding for example, would have to be done separately for each item, so you either select a fiat or Bitcoin based auction, because otherwise due to the volatile nature of Bitcoin, you could really overspend based on the ending point of that auction or could underpay which could hurt the seller.
Agree with you. Although I don't know how Amazon and eBay work, solving the instability caused by liquidity should be their biggest obstacle to adopting Bitcoin.
I don't think they need to accept Bitcoin payments. I see that I don't know much about whether they are willing to pay with Bitcoin. Most people are unwilling to pay with Bitcoin, and most of them use Amazon for small purchases. I think it does not apply. If Amazon sellers do not enter the cryptocurrency space, how can they make a profit and start paying in Bitcoin? Whether it is a buyer or a seller, I personally would not choose to pay with Bitcoin.
Although Amazon has not announced the permission to pay with Bitcoin for the time being, I think for the time being that they will adopt Bitcoin with a high probability next year, or develop their own currency. If obstructed, it is mostly the government's factor. For example, when the Chinese government issues a ban, many news about encryption are no longer allowed to be published on the website, and Chinese companies will not oppose the government. Another part of the reason I think is that Amazon's user demand is not great. I think even if Bitcoin payment is enabled, there will not be too many users using Bitcoin to pay.
I can see few reasons why they are still holding back. I mean not yet fully confirmed bitcoin and crypto payments. As many customers are in different countries and they are considering bitcoin regulations in a certain consumer's location.
If there is no law regarding cryptocurrency, which mean there is no restrictions about it unless the government comes out and bans them altogether, Amazon is functioning in multiple countries and they could have easily accepted Bitcoin and if they wanted to KYC you customer for using Bitcoin they could have done that as well. So it is not even an excuse for not accepting.Aside from that the volatility of bitcoin can also be one of the reasons. Well, there's still a solution because they can always pair it up with USDT but those companies are still have long way to plan it well.
If volatility is the reason they are going to claim, they can use many payment gateways that would instantly convert the Bitcoin to any currency of their choice and it is not another excuse to not accepting Bitcoin payments. It's highly like just because they simply don't see that much demand. If they accepted bitcoin, probably sub 1% of their userbase is going to use bitcoin. And volatility shouldn't even be a problem, because bitcoin payment processors that automatically converts the bitcoin to fiat at PoS already existed since forever.
There's also a chance that they're trying to dodge potential problems with the government, but it's highly likely to be the former.
There's also a chance that they're trying to dodge potential problems with the government, but it's highly likely to be the former.
That's certainly true, mate. Fiat still has a lot of users, compared to Bitcoin. Amazon's user base consists mostly of customers who pay in credit/debit cards. Despite Bitcoin's popularity, the cryptocurrency is still lacking mainstream adoption. Not only that, but the slow transaction confirmation times and high fees makes Bitcoin a terrible currency for daily payments.
Retailers like eBay and Amazon want something that's fast, cheap, and easy to use. So far, Fiat (either through debit/credit cards) is "King" when it comes to making transactions instantly at a fraction of the cost. The Lightning Network aims to solve most of Bitcoin's problems, but it's quite difficult for the average person to understand. It's unlikely online retailers will adopt Bitcoin anytime soon. Just my thoughts
They have to cater to whole global payments pattern and some users use it and some still order and pay with traditional methods of COD and card payments because still less percentage of people use bitcoin at this time.But the main concern is they will soon accept this mode of payment also and will show them under AUM in balance sheet soon even though they have denied rumors of accepting btc at this time.Amazon is the biggest e-commerce site and Jeff bezos richest person on planet and they have to cater with global customer needs and met with regulationary measures of each country but we can soon see it on the list.
I think it is more inclined to government regulations that still prohibit the crypto world, maybe if it no longer applies to the prohibition regulations and I am very sure they will be happy to adopt it, this will only be a matter of time for the company it's in taking steps to adopt bitcoin. this is very good for the development of bitcoin in the future
It is possible that many countries are banning bitcoins, but there are also a fair number of countries that do not have bans on bitcoin payments and can accept bitcoin, Amazon and Ebay are huge commercial organizations and across the continent, they can't say they don't know these things but until now, even the slightest intention to apply does not exist. So I'm not inclined to government regulation that can prevent any decision from Amazon and Ebay, they obviously don't really trust and don't have the necessary recommendations on bitcoin. 
I think it is more inclined to government regulations that still prohibit the crypto world, maybe if it no longer applies to the prohibition regulations and I am very sure they will be happy to adopt it, this will only be a matter of time for the company it's in taking steps to adopt bitcoin. this is very good for the development of bitcoin in the future
I can see few reasons why they are still holding back. I mean not yet fully confirmed bitcoin and crypto payments. As many customers are in different countries and they are considering bitcoin regulations in a certain consumer's location.
Aside from that the volatility of bitcoin can also be one of the reasons. Well, there's still a solution because they can always pair it up with USDT but those companies are still have long way to plan it well.
Aside from that the volatility of bitcoin can also be one of the reasons. Well, there's still a solution because they can always pair it up with USDT but those companies are still have long way to plan it well.
What's holding back Amazon & eBay from adopting Bitcoin? Is it due to skepticism, volatility or lack or regulations? Do you think these companies will adopt Bitcoin soon? Or it'll never happen? Your input will be greatly appreciated. Thank you very much
Those are big companies that are popular worldwide. and very successful and very often used. It seems that the reason you said is true because, volatility or lack or regulations because they are big company and must be regulated under government regulations. and do not know whether they want to risk their assets or not . but I believe there comes a time when it happens.
the real reason may be that there is still a ban from the government that makes them undo their intention to adopt bitcoin as it is today, for example the ban is no longer happening in some countries I'm sure the 2 companies will adopt bitcoin on a large scale the same thing with what what is happening at this time, maybe we can understand why they still don't dare to adopt it
Bitcoin usage is slowly increasing with time. Maybe both Amazon and eBay are waiting for the right time to get into the acceptance of bitcoin into their business. Volatility will be considered only if they are into holding of bitcoin. As of now Bitcoin is into the early days of mainstream adoption. Even if Amazon and eBay starts accepting bitcoin, maybe a small number of users will start using it for their needs.
Probably the number of people that are going to use the feature when it's finally added is probably really low and more people will still use fiat because even if they have the payment system, it's not like everyone will be able to use bitcoin so they can use it for payment, plus the company's ego is too big to use a third party that they have no power over.
I don't think that there is something that is holding them back from adopting Bitcoin. They just seem indecisive about what to do. Not all of the companies trust Bitcoin and believe in it in the end. But I've heard some rumours about Amazon's getting ready to make a statement that they would start accepting Bitcoin soon.
Just recently Amazon denied the widespread assumption that they will accept Bitcoin as a payment method. However, it looks like they’re thinking of it as a possibility. I wouldn’t rely on anything Tesla has to say, because during the past half a year they’ve changed their mind too many times 
Amazon, on the other hand, may be taking their time to make a decision and evaluate all the risks. But once they do, I’m certain it will be final and we won’t see them running between sides, because they value their reputation.
Amazon, on the other hand, may be taking their time to make a decision and evaluate all the risks. But once they do, I’m certain it will be final and we won’t see them running between sides, because they value their reputation.
I strongly believe that it is only matter of time before they announce about crypto acceptance in their payment system, Amazon in particular. Maybe even before the year ends there might be some kind of development here even if they denied it for the moment. If they see other merchants accepting crypto, they may consider it soon.
I agree from your point of view, that Amazon hasn't announced the acceptance of crypto in their payment system yet. but to receive bitcoin in their system, it took me a long time especially the payment mechanism and the availability of bitcon in their wallet which is sufficient for the transaction process.
Just recently Amazon denied the widespread assumption that they will accept Bitcoin as a payment method. However, it looks like they’re thinking of it as a possibility. I wouldn’t rely on anything Tesla has to say, because during the past half a year they’ve changed their mind too many times
Amazon, on the other hand, may be taking their time to make a decision and evaluate all the risks. But once they do, I’m certain it will be final and we won’t see them running between sides, because they value their reputation.
Amazon, on the other hand, may be taking their time to make a decision and evaluate all the risks. But once they do, I’m certain it will be final and we won’t see them running between sides, because they value their reputation.
I strongly believe that it is only matter of time before they announce about crypto acceptance in their payment system, Amazon in particular. Maybe even before the year ends there might be some kind of development here even if they denied it for the moment. If they see other merchants accepting crypto, they may consider it soon.
What's holding back Amazon & eBay from adopting Bitcoin? Is it due to skepticism, volatility or lack or regulations? Do you think these companies will adopt Bitcoin soon? Or it'll never happen? Your input will be greatly appreciated. Thank you very much
I don’t understand why people think Amazon or eBay would benefit from introducing Bitcoin as a payment option? It's no secret that very few people use BTC as a currency, and that people generally know very little about how to make a transaction correctly - first of all, I mean the fee which if set incorrectly can mean that the transaction will be stuck for hours or days. Customer services would certainly have their hands full, and customers would certainly be quite dissatisfied.
Every company is looking for a profit, and I honestly think that such large companies would have more problems than benefits from BTC at the moment - and it is better to postpone such a decision than to have a situation where something is first accepted and then repealed.
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