Bitcoin Forum

One of the bigger eCommerce sites starts to accept Bitcoin directly? Let's take Amazon as a example : According to Amazon, there are now over 2 million sellers worldwide, which account for over 40% of the total units sold on Amazon. {Jan 5, 2015} < I know Bitcoiners can buy from them via Purse.io, but for this debate, we want to know what the impact on the price would be, if they can buy directly with Bitcoin >

Amazon accepts Bitcoin directly ==> Price will go up to $1500 ?

In the second quarter of 2016, eBay reached 164 million active users. Most of these stats are a bit sketchy, but for this argument, let's just say it is true. < http://expandedramblings.com/index.php/ebay-stats/ >

eBay accepts Bitcoin directly ==> Price will go up with another $1000 ?

Bitcoin could easily go up to $10 000 per Bitcoin if most of these eCommerce sites starts accepting it directly.

What is your estimate on the impact of mainstream eCommerce Bitcoin acceptance?

I think bitcoin price will only rise again if there would be that many stores that are accepting bitcoin as payments and mining would be back into a profitable one. It would also depend on the buyers and sellers of bitcoin. It is also base from the currency that we're using daily. Like for example if the dollars price is low, bitcoin price is also low as well.

It depends greatly on what these giants do with all those incoming BTC. If they're just selling those BTC again to make the payments to merchants in conventional fiat money, it wuld just create large sell orders and it may actually make no difference to price, or even bring it down a bit.

Real price increase can happen if these BTC go to merchants and they start accumulating those coins instead of just selling them for fiat.

If a large merchant is ever going to take a dive into the Bitcoin waters, then they will make use of a payment gateway such as BitPay to handle everything.

And to be honest, I think it will put a massive amount of pressure on the price if they going to move their products at high volumes.

Everything will be converted to fiat in an instant as they don't want to deal with the volatility of Bitcoin that in potential can make them lose a considerable amount in a short time.

The only impact on the price will be from traders getting excited and that will result in a peak which may or may not last long. But nothing above the $1000 range.

nice said but this dont mean that "if" happen will be like that
for started i would say that it would be huge about of price change for that maybe 100-200$ per eCommerce but this is after all only speculatio

in any case scenario price can be same or jump even higher they you expected

I can't remember where but I read somewhere that out of every $2 spent online, $1 of that money is spent on Amazon so if they did begin to accept bitcoin I presume we could expect to see $5000+ value for 1 bitcoin.

It would  be possible for bitcoins price to  rise  up if  one  of  these ecommerce would  adopt bitcoin hence the   demand  would  increase too  then the price would increase  but the main  question  here  is  would  they  intend to accept bitcoin on their  side?

if one day one of these big sites start accepting bitcoin then the price will go to the moon but not only because that particular site started accepting bitcoin instead because that site (Amazon for example) accepting bitcoin will create an effect in the market that shows all other even smaller businesses to start using bitcoin and in a short time everybody will be using bitcoin and that is the mass adoption (online version) for you. now you can add to 2 million sellers worldwide a lot of other users who are using bitcoin.

so my prediction is $5000

If Amazon accepting bitcoin as the payment, it will be a good news for bitcoin and i'm sure the price of bitcoin will increase. Many people will notice bitcoin and start using bitcoin as the payment on amazon.

Yes if like Amazon and Ebay accept bitcoin it would be a great advance for bitcoin. Because it will affect the price and will add bitcoin users. It was a huge investment for bitcoin if that happens. But I think it still requires deep thinking because rarely eCommerce sites that use payment with crypto.

still need much time for it at least amazon has open the way for bitcoin growth but we need more patience for somebody doesn't know about bitcoin will interested to use bitcoin.

Of course . Amzon is an e-commerce is huge. it is part of the economic centers in the world. even when bitcoin might be used in the amazon website bitcoin prices can be very high. everyone expected this to be true.

if only amazon that accepting bitcoin as payment, i think it will not give much impact but if there are many store online like ebay, and the other that i don't know the name is accepting bitcoin as payment then it will give big impact and it could make the price of bitcoin will be increase than before. i hope it will soon to see this can be happen.

It`s not just about accepting, people need to use that service. Only in that case we will see some positive effects on price, when people start to use that bitcoins, and buy and sell things for bitcoins.
I think it`s great when ever some big company start to accept bitcoins, but it`s people who need to give real power to all that. With using coins, bitcoin economy is growing. If they start to make profit on that, only in that way demands for bitcoin will go up, and with that price too.

Amazon is just like 50/50 they thinking if they gonna really accept bitcoin as a payment method in there store , Some of merchants are gone this before , And if there are more investors or company who gonna use bitcoins as they currencies then it's 100%, That the price of bitcoin will be up not $10,000 per bitcoin just too exaggerated if theses site accept eCommerce then let's see what is the really result of this project.

It wouldn't make a jot of difference. No customer is incentivised to use it.  It costs money to procure,  it's unsafe to store for most and refunds would be a pain up the arse.

The only way it might cause a blip would be heavy discounts and their margins must be too small on most things.  Great for existing users.  The rest of the world still won't care all that much.

As for the sell pressure thing,  bitpay said most of the coins they handle go straight to otc buyers and stay there.

in real world when a site like Amazon or eBay changes some thing like for example adding the option to pay with bitcoin it means there was enough request pressure from their customers that they decided to add it. so if they add it that means enough people have already been using bitcoin and requesting it so price has already been increased to 3K-4K$

It is for this reason, why I said Bitcoin should be accepted directly without any 3rd party payment processor being involved. There is still no guarantee that the merchant will not convert it back to fiat, but the added bonus for us would be the increase in adoption and the mass exposure.

The benefit for them, would be the reduced fees over other payment methods and opening up a new income source. We should not be blinded by the fiat conversion, but rather the mainstream exposure we would receive from this.

It also gives customers the added alternative, when they experience problems with legacy payment options. Let's say your credit card gets blocked, you then still have the option to use Bitcoin. The merchant will be happy, because the tx could still be done, even though the customer had problems with his other payment options.

No, every bitcoiner will be waiting for the giants to accept bitcoin payments, but not necessarily to have big amount of bitcoin hoarding within them so that price have already increased.

People especially traders do always speculate on the arrival of news, if market giants start accepting bitcoin payment, we can expect new price up surges. I am also expecting 10X growth in short period with any of those kind of news.

From 600 to 1500 is a rise of nearly %250. I don't think amazon has such power. I think it won't rise more than 100$ and that is still a lot. Market is so stable since finex i even doubt that 100$ rise tbh.

Even if these e-commerce giants start to accept bitcoin as form of payment, I doubt if that would bring the price up to unexpected heights. It is not as if those sites are exclusive to bitcoin. But that would certainly help in better circulation of bitcoin, and that is a win-win situation for both the buyer and seller.

If the price of the bitcoin will drop that low i dont think there are  lot of bitcoin users left becuase they dont want to spent time on something that has crashed that much.

I don`t know for price, I know that this scenario will mean a lot to bitcoin. This is for people who doubt in bitcoin, recognition of bitcoin, when they see that ebay and amazon accepted it, people will know that they can have trust in bitcoin.
Maybe that can`t inflict on price in same moment when it`s happen, but for sure this will mean a lot for bitcoin on a long run. Bitcoin needs big companies behind it, ebay and amazon are internet services, its logical to think about them as first bitcoin companies that will accept bitcoin as payment method, and who knows one day to give salaries to their workers in bitcoins.

all these ifs and buts will never get us anywhere with bitcoin, i mean it is good and fun to speculate about these things but we have to start doing something ourselves too.

lets think about the following two questions for a while:
how many of you people on this topic are even using Amazon and Ebay?
no how many of you has contacted Amazon and Ebay and asked them to add bitcoin payment?

it is a simple thing. these sites are only going to add bitcoin payment if there is enough request for it and if they can get over the legal issues. and as long as we are only talking about it in topics like this they will never add it.

I believe you are right.
A Bitcoin adoption by one of the ecommerce giants wouldn't mean a significant higher price.Maybe a slight one.
That would depend if these companies would immediately convert back to fiat or not.If that would be the case there could be an enormous selling pressure.
On the other hand it would bring a lot of mainstream awareness to Bitcoin, in a positive light, what shouldn't be underestimated.

I doubt they will ever gonna add bitcoin in their supported payment methods in near future however i don't think this is impossible. If ebay and amazon like well known ecommerce site start accepting bitcoin price may rise slowly to well above $1000 or may be it will touch new ATH price.