Why is Amazon.com still resisting the use of BTC for payment? - page 5.

MingLee

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Quote from: CrimBit on August 09, 2016, 11:15:12 PM

Quote from: sbtctalk on May 30, 2016, 06:40:49 AM

Is it a business reason? Or perhaps the complexity of bitcoin accounting creating potential issues?

What do you think?

i think amazon want make his official payment aplication to beat bitcoin, in fact amazon not interesting add bitcoin because bitcoin is decentralization money, this is the problem for merchands who want to protect his customer.

It would be more like protect the customer from the merchant, if things started being traded in Bitcoin chances are there would be a number of fraud cases that would spring up due to the inability to charge-back through Bitcoin. While there is a lot of trust involved and there often aren't charge-backs, that's because a legitimate product is sold. Without the ability to charge back, there might be more people who won't sell everything they say the product is.

CrimBit

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Quote from: sbtctalk on May 30, 2016, 06:40:49 AM

Is it a business reason? Or perhaps the complexity of bitcoin accounting creating potential issues?

What do you think?

i think amazon want make his official payment aplication to beat bitcoin, in fact amazon not interesting add bitcoin because bitcoin is decentralization money, this is the problem for merchands who want to protect his customer.

Yakamoto

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Quote from: chixka000 on August 07, 2016, 08:45:21 AM

Quote from: sempak on August 07, 2016, 08:10:54 AM

if amazon.com really use bitcoin, then I think bitcoin prices will increase. Amazon is one of the big companies, and if that happens then the development of bitcoin in the world can be very fast.

You nailed it mate. It would be a boom in the bitcoin industry. I just remembered when steam announced that they will be accepting bitcoin people at that time was very excited then when steam launches it every Gamer's that uses bitcoins of course celebrated.

There would be a considerable increase with the amount of Bitcoin being passed around, but I don't think that you are properly estimating what would actually change. While it would be a big thing and there would be a considerable increase of things happening within the market, not all that many businesses would just start because Amazon is doing it. Steam was hitting a key market because a fair amount of people who use Bitcoin play video games, but not everyone would rush to buy things from Amazon in the same way.

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Quote from: barbara44 on August 08, 2016, 11:46:02 AM

I think it’s because the price of bitcoin keep fluctuating unstably and unpredictably, like when it stabilized at some point and then the next day it could drop like hundreds of dollars and after that it could rise significantly. Amazon can get a huge amount of profit from it or can lose millions of dollars because of a small drop.

Amazons products deal with fiat transaction so an active price fluctuation in bitcoin must considered as main factor if they will accept bitcoin.

But you know, there are already some numbers of third party exchangers that can be used if a person wants to use their bitcoin to purchase in Amazon.

Hellacopter

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May be Amazon and the other great marketplaces still don't believe in Bitcoin and think it will fail sooner or later, and that's of course wrong, Bitcoin is stable nowadays and it will be supported when it's community reach the good level of growing

barbara44

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I think it’s because the price of bitcoin keep fluctuating unstably and unpredictably, like when it stabilized at some point and then the next day it could drop like hundreds of dollars and after that it could rise significantly. Amazon can get a huge amount of profit from it or can lose millions of dollars because of a small drop.

calkob

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I reackon it is abit off both, however i dont see amazon turning their back on bitcoin if it stood to make them sheds load of money. They are bound to have looked at it,

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Quote from: SmartIphone on August 07, 2016, 02:13:19 PM

Quote from: sbtctalk on May 30, 2016, 06:40:49 AM

Is it a business reason? Or perhaps the complexity of bitcoin accounting creating potential issues?

What do you think?

Bitcoin price isn't stable and this may be one of the reason because if the price was $650 and suddenly within few hours drops to 500 or lower (which already happened this week) then where is the profit for the amazon?
We are talking for millions of dollars which amazon could risk but could also profit if the bitcoin price increases.

Exactly! Partially I understand amazon in that that they do not want to risk but as we all know only those who take risks win big in the end. But yeah, you might lose in the end too, so ... It's up to them. But I think those who will accept risks associated with Bitcoin will be in profit in the long run.

Frodomaga

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They might be trying to create their own payment system which will rival bitcoin.
They are a corporate power house and want to control every aspect of their site.
Refusing to accept bitcoin as a form of payment is just buying their time for their own system to take effect soon.

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Quote from: chixka000 on August 07, 2016, 08:45:21 AM

Quote from: sempak on August 07, 2016, 08:10:54 AM

if amazon.com really use bitcoin, then I think bitcoin prices will increase. Amazon is one of the big companies, and if that happens then the development of bitcoin in the world can be very fast.

You nailed it mate. It would be a boom in the bitcoin industry. I just remembered when steam announced that they will be accepting bitcoin people at that time was very excited then when steam launches it every Gamer's that uses bitcoins of course celebrated.

steam has already launched the project for accepting bitcoin a long time ago and I have tried it myself! it is not for the future to come.
and also even if Amazon accepts bitcoin someday the effect of it will be small at the moment because it will be hype effect because the real effect (as with steam) will take time for new people to notice bitcoin then start using it and then liking it and create that massive demand that pushes the price to the moon. it is a time consuming process.

entrepmind23

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Amazon is still resisting to use BTC as payment because it will be a big loss for them if they accept it and then its value plunge and then they have to pay in fiat. In order for them to accept BTC they should also pay BTC for the services so that changes on its equivalent value in fiat will not affect them.

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Quote from: sbtctalk on May 30, 2016, 06:40:49 AM

Is it a business reason? Or perhaps the complexity of bitcoin accounting creating potential issues?

What do you think?

Bitcoin price isn't stable and this may be one of the reason because if the price was $650 and suddenly within few hours drops to 500 or lower (which already happened this week) then where is the profit for the amazon?
We are talking for millions of dollars which amazon could risk but could also profit if the bitcoin price increases.

Kevin77

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Quote from: coin_gambler on August 07, 2016, 08:48:07 AM

Quote from: chixka000 on August 07, 2016, 08:45:21 AM

Quote from: sempak on August 07, 2016, 08:10:54 AM

if amazon.com really use bitcoin, then I think bitcoin prices will increase. Amazon is one of the big companies, and if that happens then the development of bitcoin in the world can be very fast.

You nailed it mate. It would be a boom in the bitcoin industry. I just remembered when steam announced that they will be accepting bitcoin people at that time was very excited then when steam launches it every Gamer's that uses bitcoins of course celebrated.

though we dont know how much people use bitcoin as a payment method on steam, it might be useless because as far as i know most of the buyers use fiat

That would make sense. It would only be a success for bitcoin IF and only if people would rather use bitcoins than fiat from doing transactions in amazon. But most of the business experts view this as a boost to bitcoin, but in progress it might be a milestone for Amazon too, who knows? Being a bitcoiner and strong believer of sutures of bitcoins, I too wish Amazon to adopt bitcoins.

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Quote from: chixka000 on August 07, 2016, 08:45:21 AM

Quote from: sempak on August 07, 2016, 08:10:54 AM

if amazon.com really use bitcoin, then I think bitcoin prices will increase. Amazon is one of the big companies, and if that happens then the development of bitcoin in the world can be very fast.

You nailed it mate. It would be a boom in the bitcoin industry. I just remembered when steam announced that they will be accepting bitcoin people at that time was very excited then when steam launches it every Gamer's that uses bitcoins of course celebrated.

though we dont know how much people use bitcoin as a payment method on steam, it might be useless because as far as i know most of the buyers use fiat

chixka000

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Quote from: sempak on August 07, 2016, 08:10:54 AM

if amazon.com really use bitcoin, then I think bitcoin prices will increase. Amazon is one of the big companies, and if that happens then the development of bitcoin in the world can be very fast.

You nailed it mate. It would be a boom in the bitcoin industry. I just remembered when steam announced that they will be accepting bitcoin people at that time was very excited then when steam launches it every Gamer's that uses bitcoins of course celebrated.

sempak

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if amazon.com really use bitcoin, then I think bitcoin prices will increase. Amazon is one of the big companies, and if that happens then the development of bitcoin in the world can be very fast.

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Quote from: ionomy on August 07, 2016, 08:03:57 AM

The only way Amazon would accept BTC would be to exchange it to FIAT immediately, these big organisations are not interested in Bitcoin or other coins mass global adoption (yet), but as a form or redeemable payment, then quite possibly yes - but what it would take to persuade these guys, who knows. Oh, and Steam accepting BTC? They do not hold the coin but instead exchange it for FIAT as above. Maybe this is because of the volatile market so as a fear of losing funds, or maybe a deeper esoteric reasoning... #BankingSystem

it doesn't matter to us the users, what they are going to do with the bitcoin they receive as long as they receive it. they can even do it easily using the bitpay bitcoin payment system, they do the conversion themselves and receive bitcoin and give the merchant money equivalent of it.

ionomy

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The only way Amazon would accept BTC would be to exchange it to FIAT immediately, these big organisations are not interested in Bitcoin or other coins mass global adoption (yet), but as a form or redeemable payment, then quite possibly yes - but what it would take to persuade these guys, who knows. Oh, and Steam accepting BTC? They do not hold the coin but instead exchange it for FIAT as above. Maybe this is because of the volatile market so as a fear of losing funds, or maybe a deeper esoteric reasoning... #BankingSystem

chixka000

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Quote from: Mukyasa on August 05, 2016, 05:56:38 AM

Quote from: chixka000 on July 24, 2016, 06:14:04 AM

Will i guess this is all about the difference of price on bitcoin ajd fiat, i think amazon also don't like the way of anonymity of bitcoin gives to its users so i think amazon is up to that matter

I think the bitcoin is more anonymous than the cash. The reason that Amazon does not accept the bitcoin is that too few people use it.

yes that was actually what i am saying that because of the anonymity that bitcoin provides it may be hard for amazon to identify but who knows if steam was able to accept bitcoin how much more for amazon lets just see for the near future.

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maybe they want to create their own cyptocurrency and then only accept it

Topic: Why is Amazon.com still resisting the use of BTC for payment? - page 5. (Read 8433 times)