Topic: You Can Now Shop With Bitcoin on Amazon Using Lightning - page 3. (Read 487 times)
There was a thread yesterday about this amazon e-commerce shop accepting bitcoin through lightning network, well as you have rightly said users need to use they sense because in as much as this development of Amazon shop accepting bitcoin is a good news the fact still remains that the transactions are done using a third party website which give us so much concerns.
This is kinda tricky and there is a big possibility that the browser's extension will end up stealing our information especially our private keys and etc.
The project is good to be true. If it can really process the payment using bitcoin then there should be an announcement by the side of the Amazon and they are even claiming that it will work on almost e commerce site. It is better to avoid this kind of action as I am pretty sure that it is only a trap.
The project is good to be true. If it can really process the payment using bitcoin then there should be an announcement by the side of the Amazon and they are even claiming that it will work on almost e commerce site. It is better to avoid this kind of action as I am pretty sure that it is only a trap.
Notice that Amazon is still not receiving Bitcoin so you can't say that you are really paying with BTC for something. The other thing is that sometimes such big companies provide anti crypto policy and ban all crypto related accounts. Just as PayPal, some other payment systems and some big banks do.
So we still have to see Amazon's official statement about this payment method.
So we still have to see Amazon's official statement about this payment method.
I try to look at Amazon's blog and I can't find anything related to this news. Anyways, @pooya87 says it's not a direct bitcoin->bitcoin payment, need a third party so I wouldn't consider this as adoption per se.
the title of the article is very misleading because you still can not "shop on Amazon with bitcoin" since they do not accept bitcoin and what you are doing is that you are going through a third party which is never desirable specially when we are talking about decentralized bitcoin which was supposed to cut all the middle men.
besides Amazon should be a thing of past for us, in our world we should stick to decentralized market places such as Open Bazaar and make them grow and replace Amazon.
besides Amazon should be a thing of past for us, in our world we should stick to decentralized market places such as Open Bazaar and make them grow and replace Amazon.
I thought I saw a thread yesterday about this topic seems like it has been deleted.
Even though the project is great and can relatively help online buyers that use crypto to buy something out of Amazon, I still wouldn't install an add on in my google chrome. As you said this could be a loophole where hackers can get information about somebody's crypto wallet and other information that a hacker can exploit.
Even though the project is great and can relatively help online buyers that use crypto to buy something out of Amazon, I still wouldn't install an add on in my google chrome. As you said this could be a loophole where hackers can get information about somebody's crypto wallet and other information that a hacker can exploit.
You Can Now Shop With Bitcoin on Amazon Using Lightning
https://www.coindesk.com/you-can-now-shop-with-bitcoin-on-amazon-using-lightning
What are you thoughts about this one? Remember you have to download your browser's extension and then connects your wallet. And this what worry me most. As this could be another potential loopholes that hackers can exploit. And I assume that the fee's here will be high as well.
I also heard negative press about the people behind this company. So this is not an endorsement of any kind. Just wanted to brought this to the community. Always used your common sense.
Edit: https://www.reddit.com/r/ethereum/comments/auqrhf/psa_on_moon_browser_extension/
Quote
Bitcoin spenders can now use the lightning network to shop at e-commerce sites like Amazon.
Crypto payment processing startup Moon announced today that any lightning-enabled wallet can now also be used through Moon’s browser extension. Before this lightning feature, roughly 250 beta users already used Moon to spend crypto on e-commerce sites by connecting the browser extension to exchange accounts like Coinbase.
To be clear, Amazon itself never touches bitcoin. Kruger declined to specify which traditional financial institutions are helping convert the bitcoin to fiat on the backend so that Amazon merchants actually receive fiat currency for their wares. However, Kruger added that by 2020 the lightning-enabled feature should work on almost any e-commerce site, regardless of whether that platform accepts bitcoin directly.
“There’s no direct merchant integration,” Kruger said, clarifying that Moon also manages payment channels and merely offers a simple interface for sending payments.
Crypto payment processing startup Moon announced today that any lightning-enabled wallet can now also be used through Moon’s browser extension. Before this lightning feature, roughly 250 beta users already used Moon to spend crypto on e-commerce sites by connecting the browser extension to exchange accounts like Coinbase.
To be clear, Amazon itself never touches bitcoin. Kruger declined to specify which traditional financial institutions are helping convert the bitcoin to fiat on the backend so that Amazon merchants actually receive fiat currency for their wares. However, Kruger added that by 2020 the lightning-enabled feature should work on almost any e-commerce site, regardless of whether that platform accepts bitcoin directly.
“There’s no direct merchant integration,” Kruger said, clarifying that Moon also manages payment channels and merely offers a simple interface for sending payments.
https://www.coindesk.com/you-can-now-shop-with-bitcoin-on-amazon-using-lightning
What are you thoughts about this one? Remember you have to download your browser's extension and then connects your wallet. And this what worry me most. As this could be another potential loopholes that hackers can exploit. And I assume that the fee's here will be high as well.
I also heard negative press about the people behind this company. So this is not an endorsement of any kind. Just wanted to brought this to the community. Always used your common sense.
Edit: https://www.reddit.com/r/ethereum/comments/auqrhf/psa_on_moon_browser_extension/
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