Why is Amazon.com still resisting the use of BTC for payment? - page 8.

Jemzx00

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Be nice!

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?

Well it's hard to accept bitcoin as payment to such famous online shops such as Amazon since bitcoin is mostly known by people as a illegal online money due to it's anonymity and it being used illegally such as Deepweb. Even other country consider bitcoin as illegal.

Barbut

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It's not taht just Amazon don't accept payments in bitcoins, there is many other big companies and many more people out there who are still suspicious about block chain technology. Probably not just suspicious, also doubt and fear from something totally new.
Bitcoin exist less then 10 years, and for this time bitcoin made a huge success. From zero to 650 $, and so many people involved bitcoin have potential for more. I think all bitcoin needs now is stability and to survive next 10 years, that will open the door to the shiny future and there everyone will accept btc like any other currency.

toptek

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They did once upon a time then stopped .!!!

richkellj

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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?

Amazon.com doesn't like bitcoins nor will it anytime soon accept bitcoin payments. They had conducted a survey few years back and they found that customers don't consider it as a good payment method. We need to accept that bitcoin isn't that popular among masses and if Amazon cannot find a decent number of people using bitcoins, they won't introduce it as a payment method.

Lionidas

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Just like why newegg stopped accepting bitcoin. It is just not part of their "business plan" Roll Eyes

BS plan if you ask me.

woola3

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I think the main reason is bitcoin's price volatility. If they adopt btc they could easily end up having thousands of btcs. That makes a $20 drop a huge loss. For that reason they would have to immediately change their coins for fiat. I don't see a serious reason for them to bother and begin such a process, at least for now with a still under development coin. In the future they will most probably accept cryptos.

iv4n

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We can just guess why they still didn't accept bitcoin as payment method. If I can guess anything I would say its cause bitcoin is not stable currency and cause still many people didn't hear about bitcoin. Bitcoin need to become much more present in this world and among the people of this world. Of course there is always a question of bitcoin used for illegal purposes. There is many other reasons for sure, but I think over the time that will change. Bitcoin is more present now then 5 years ago, for 5 years we can expect even more people to be familiar with bitcoin and blockchain. Community is growing and that will make Amazon to question their decision.

wintermeasures

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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 thinking, why should use bitcoin which we know has an unstable price fluctuations and not to mention issues about bitcoin. I think they prefer the old way that they have done from the first. Thank you

StoreBit

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Quote from: Winoc on May 30, 2016, 07:49:55 AM

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?

Maybe a business reason.They may not be aware of bitcoin potential or may be afraid of the fluctuating nature of bitcoin price..Besides this I cannot think of any other reason.

yes it may be. but i think it is also possible that they have so limitation with it. it may have so bad effect on their business. or may one be their internal reason that they do not want to disclose. other wise there is nothing wrong in bitcoin that can compel some not to use bitcoin.

Hellacopter

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I think Amazon like other trading platforms still think that's risky to use BTC for payment to protect the customers as Bitcoin's user is anonymous as known. But i hope they change their mind about this soon.

richmcrich

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Quote from: universe_ on July 07, 2016, 07:09:13 AM

i heard something that they wanted to release their own cryptocurrency so i guess that might be the case, though i cannot find anything about that right now, i guess the time will tell what was the case

Really? I'd love to know if they really are planning on doing that. I'm sure it's going to be profitable altcoin and good for us traders.
Nonetheless, I would also love it if amazon would start accepting bitcoins.

Superways

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But is in its initial stage and now it need more success and for that we have to support it more and have to promote it to everywhere , and when bitcoin become an established currency, it will be accepted by al the big companies.

ShrykeZ

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It has probably been up by their internal teams on a few occasions, sadly Bitcoin gets a lot of negative press.

redsun114

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Quote from: Soros Shorts on July 07, 2016, 04:59:26 AM

Quote from: ITVS on June 23, 2016, 06:33:01 PM

Amazon have a protection policy whereby the refund money for items not as described by 3rd party sellers
the 3rd party sellers then have to prove that they have offered the goods or service.
I think this will be harder to implement with btc

This is not really a good excuse not to support Bitcoin transactions. Amazon always had the option of refunding payments to your giftcard balance and not necessarily always to the source of payment. In fact, refunding to your giftcard balance is instantaneous but to your credit card could take days.

Also with 3rd party sellers I would assume that they will receive the payment in fiat regardless of whether they buyer uses BTC or other forms of payment.

Credit Card payments don't take long and I was told by Amazon that it takes just 1 day but cash payments take 2 weeks. Bitcoin payments also can be instant but they aren't finding users who want to have such a payment method checking its stability and confirmation time.

universe_

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i heard something that they wanted to release their own cryptocurrency so i guess that might be the case, though i cannot find anything about that right now, i guess the time will tell what was the case

Soros Shorts

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Quote from: ITVS on June 23, 2016, 06:33:01 PM

Amazon have a protection policy whereby the refund money for items not as described by 3rd party sellers
the 3rd party sellers then have to prove that they have offered the goods or service.
I think this will be harder to implement with btc

This is not really a good excuse not to support Bitcoin transactions. Amazon always had the option of refunding payments to your giftcard balance and not necessarily always to the source of payment. In fact, refunding to your giftcard balance is instantaneous but to your credit card could take days.

Also with 3rd party sellers I would assume that they will receive the payment in fiat regardless of whether they buyer uses BTC or other forms of payment.

Sharma

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Quote from: lightyard12 on July 07, 2016, 04:27:22 AM

I think that BTC is too anonymous for amazon which is why they are still resisting the use of BTC.

Yeah. Perhaps they still want to use other payment methods just because they offer a bit more control. They want control over everything, and gain every bit of detail of their customers, I guess.

But eventually, they will be forced to get into the BTC business.

lightyard12

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I think that BTC is too anonymous for amazon which is why they are still resisting the use of BTC.

Mukyasa

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Quote from: DomesticTrader on June 23, 2016, 10:24:51 PM

Because they do not like such payment and they are also thinking that the bitcoin is still just a investment and a currency that is not popular.
Soon or later this will change and they will accept it.

When the daily volatility of the bitcoin price is similar to that of the US dollars and Euro, I think Amazon will accept it.

DomesticTrader

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Because they do not like such payment and they are also thinking that the bitcoin is still just a investment and a currency that is not popular.
Soon or later this will change and they will accept it.

Topic: Why is Amazon.com still resisting the use of BTC for payment? - page 8. (Read 8433 times)