Topic: Will Amazon accept crypto if Bitcoin skyrocket again? - page 12. (Read 1281 times)
Amazon won't accept bitcoin in near future they may develop their own cryptocurrency having their own cryptocurrency open up lot of opportunities for them
What do Amazon have to gain by accepting cryptocurrency?
To start accepting bitcoin, they would also need to be able to refund orders in cryptocurrency, as well as solve problems regarding "stuck" transactions, hacked/lost/stolen accounts with outstanding balance on them, etc. They would need to set up hot and cold wallets, a means of converting to fiat, new crypto support staff and teams, new tax regulations, etc. It would be a huge undertaking for them. Now, what do they have to gain from it? Some new customers, sure, but probably not enough (yet) to justify their initial set up costs.
Yes, it would be great for all businesses to start accepting crypto, but at the end of the day, these are private businesses and will only undertake something if they think it will bring them more profit.
To start accepting bitcoin, they would also need to be able to refund orders in cryptocurrency, as well as solve problems regarding "stuck" transactions, hacked/lost/stolen accounts with outstanding balance on them, etc. They would need to set up hot and cold wallets, a means of converting to fiat, new crypto support staff and teams, new tax regulations, etc. It would be a huge undertaking for them. Now, what do they have to gain from it? Some new customers, sure, but probably not enough (yet) to justify their initial set up costs.
Yes, it would be great for all businesses to start accepting crypto, but at the end of the day, these are private businesses and will only undertake something if they think it will bring them more profit.
I’m sure they’ve done some research already about cryptocurrency and with bitcoin of course but maybe they are just waiting for the right time. I’ve heard about the new Samsung phone, which enables cryptocurrency maybe this is the start for a big players to slowly adopt the technology, we will see this when the market pumps.
There are a lot of small shops which accept crypto payments around the world. However, in my opinion, what will really push the cryptocurrencies forward is the adoption of Bitcoin by some big player in the trading industry, such as Amazon.
What do you think, will Amazon start to accept Bitcoin as a payment method if its price rises to new-record values again (like in 2017)? Could it be that they are not adopting it because they treat crypto as a hostile technology for their business? Or they just don't take Bitcoin seriously, like thinking it will despair in the near future?
What do you think, will Amazon start to accept Bitcoin as a payment method if its price rises to new-record values again (like in 2017)? Could it be that they are not adopting it because they treat crypto as a hostile technology for their business? Or they just don't take Bitcoin seriously, like thinking it will despair in the near future?
Jump to: