Bitcoin Forum

Hi All,

I'm new here but I'm not new here if you know what I mean. Everything has come along way from how I remember it six to seven years ago when I first found discovered it. This is my first post so just walk with me on this one. A couple of days ago I had a dream that you could pay for everything on Amazon with bitcoin. Crazy I know... but then I thought wait that isn't that crazy.

So I started doing some research. I found a company which developed a browser extension to support payments on amazon with bitcoins (Not sure if its against the rules to post the company so I wont)... I'm sure there is a demand for it as I've seen the trade volume on a well known p2p exchange using Amazon gift cards. I say all of that to say this, what do you think that would do to the value?

Surely this would be the moment which would solidify mass adoption of the currency?

Just a few crazy thoughts going through my mind... whats your opinion  ???

Uhm no. Hell, a few shops in the internet and irl have already started accepting payment through Bitcoin, so I see no reason as to why it would actually become a "breakthrough". Not only that, those people ignorant about BTC would actually stay away from it instead of approaching it. Why? Because of its volatility. I mean, they have a lot on their plate already, and if they actually invest on something unknown to them, they'd basically be wasting both their time and money right? (I'm not talking bad about BTC, just the perspective of a person who doesn't know anything about it).

It's an option, but it isn't a priority. It's that kind of relationship right now with BTC and various stores it has connections to. It's still a step, albeit a really small one though, which makes it unworthy of the word "breakthrough" imo. And yea, honestly, it's a crazy opinion alright... in a bad way.

This is the first time am hearing about something like this , this is really amazing , I think if they have made a software integrating the bitcoins and the money with the Amazon indirectly then they can also do this with other websites using the same integration , this way there won't be only one site on which we will be able to make payments with Bitcoins , great invention I do think they just need to make it legal and get it in their name ,market like any other app and I think it would be a good thing to try it if its working nicely.

I don't know what app you're talking about, but back in 2018, Moon launched BTC payments via the Lightning Network on Amazon. Now you can use any wallet with Lightning support for the Chrome browser via the Moon extension: https://paywithmoon.com/ You can read more information in the developer blog: https://blog.lightning.engineering/posts/2019/03/20/loop.html

It's not new and these are indirect methods of paying with crypto on sites like Amazon and Purse too lets users buy things from Amazon at 20-30% discount with the help of gift cards or using Amazon GC balance.


Moon has disabled this payment method and only supporting these ecommerce websites: http://prntscr.com/r64r4o

^^
There are several ways to pay for amazon products with cryptocurrency by using giftcards to load them. But OP is talking about paying directly without needing to go thru these middle men. Which probably take a bit for fees because these companies dont do processing for free and they need to make money some how to sustain their business. Just like any other IRL would.
https://coinsspent.com/where-to-spend-bitcoin-in-2019/how-to-pay-with-bitcoin-at-amazon/

The one that came to mind was gyft. ;D
Never used any of the above mentioned methods before so can not comment on how reliable or useful they are to the general amazon customer.
But buying directly from them using your cryptocurrency wont happen since the moon company is no longer doing it thus amazon probably saw it as a failure and they could do it better with their own sort of cryptocurrency.
They want to have their version of libra to rival other market makers. ;)

We have been hearing that Amazon will be accepting bitcoin "soon", but there has been no update on the news. No way I am going to trust a browser extension to allow me to pay in bitcoin from my wallet. There is no guarantee that the extension developers might go rouge and add some sort of backdoor to the extension.
Yeah they have good volume, but it is kinda risky to buy off amazon cards from random people on the internet. Those might be stolen or bought illegally.
You can always always buy Amazon Giftcards from well known sellers that accepts bitcoin (try Bitrefill if you haven't).

I've bought codes for Amazon a few times through an exchange instead of withdrawing to my bacn account and I was very happy with how fast it was. There weren't any problems from Amazon as well.
Direct payments would be great because I'd be able to pay after buying a product instead of having to charge the account before making the purchase. That second way always makes you send more because you don't know if you get a discount and how much the shipping will cost. Let's wait and see. Adding BTC payments to such a big store would cost a lot of money.

I know that but these gift card methods are only profitable to those buying the gift cards at a huge discount and not the ones selling them. Also, moon did not clarify why they stopped supporting Amazon and they said they would launch it soon so looking to see how it works. It's just a new way to pay and that too only on Amazon.com not other sites so it's not useful for others. Amazon could easily use coinbase or another exchange if they don't want to direct accept bitcoins but they don't seem interested.

I couldn't tell you the last time I bought something on Amazon for fiat and not for a voucher or gift card I had bought using bitcoin. Bitrefill is currently my go-to supplier. As well as being a quick and easy way to spend bitcoin, it has the added privacy bonus of not letting my credit card company monitor all my purchases.

It might help adoption, but a single retailer accepting bitcoin, even one as ubiquitous as Amazon, is not going to catalyze mass adoption on its own. Maybe bitcoin users who also use Amazon (which will be the majority of bitcoin users, because the vast majority of people in countries where Amazon operates use Amazon) would start using bitcoin instead of fiat when shopping at Amazon, but it's unlikely to cause huge numbers of people to get involved in bitcoin for the first time. As long as Amazon continue to accept fiat payments, then accepting bitcoin alongside offers little incentive to try out bitcoin for the first time. We also need more than just Amazon to accept bitcoin, since they would likely use a payment processor who sells all the bitcoin they accept immediately for fiat. We need a whole ecosystem of bitcoin, with employees at Amazon opting to be paid in bitcoin because they have plenty of available merchants or retailers at which they can spend it.

Nope.

Unless Amazon starts offering discounts on everything exclusively for Bitcoin it won't make the slightest difference and they'll be unwilling or unable to offer such discounts. And why the hell would they? And by the time you throw in exchange fees, hassle and fluctuations there may not be any discount left.

No one buys something to buy something.

Merchant adoption is a dead end for now albeit a very convenient one for people already into it. It will never drive people into using it. It's a byproduct.

What's needed are employers to give the option of people being paid in Bitcoin. That would drive things much harder.

 We literally had amazon, steam, microsoft and some other major places DIRECTLY accept bitcoin during the peak of 2017, not everyone remembers that because amazon wasn't allowing bitcoin payments on stuff like books or diapers or whatever but they were accepting it for both twitch and prime payments which was a breakthrough of sorts, you could send tips or subscribe to streamers and get prime membership all using bitcoin directly paying to amazon, no third party no nothing. Hell I bought some games on steam using bitcoin, at that time I wasn't really in a bad financial situation since I made a ton of profit during 2017 peak so I literally just bought games on steam DIRECTLY using bitcoin and enjoyed the profits that way as well.

 These are all great news but even adding the real companies accepting bitcoin won't make a huge difference, it surely would make a difference, the price would definitely go up but it wouldn't make the difference that some people are waiting for, there are people out there who are waiting for 100k or even more and unfortunately you can't get to those prices with just amazon or some other major website starting to accept bitcoin, you would need a huge financial boom from wall street or wall street-like places all around the world since they are the only ones who have enough money to make the price go up that much.

Exactly. We're still at an intermediate stage in adoption where most consumers and merchants don't have strong incentives to adopt BTC.

People tend to focus too much on this aspect. In my opinion, Bitcoin needs to become ubiquitously used as money first. When consumers are getting paid their salaries in BTC and merchants can pay their suppliers in BTC, both groups will get fully on board.

To be honest, I've been hearing and reading about Amazon accepting Bitcoin but I have no updates about it and I just remembered it now.

There are a lot of platforms that accepted Bitcoin, I am not a gamer but I do know Steam accepted Bitcoin. Steam is a platform in games and one of the most popular of it. Still, it did not made any impact and they stopped accepting it in the long run. I think that would be the same with Amazon. The fact that we have no updates until now means they know the risks they will take if they do that.

If the Amazon would really accept bitcoin as a part of their transaction, it will cause a huge impact to the cryptocurrency since a bit company are now using it. It will for surely gonna have a huge price movement to the market and might cause a bull run. This is might be also a trigger to other company to officially accept crypto as their part of every transaction that they are going to do.

I'm not sure about the security of this method of payment at the moment. I agree that this is a good idea, and that it would make life easier for people, but so far this is at the level of introduction to the masses, I personally would not use such applications and extensions in browsers. Perhaps everything was done with high quality, but for some reason I do not yet have confidence in this.

This article might be interesting for you. https://www.investopedia.com/articles/company-insights/090216/when-will-amazon-accept-bitcoin-amzn.asp

tl;dr
You could still purchase Amazon gift cards with Bitcoin and use it. So it's pretty much buying with Bitcoin. Since there are companies that were already doing this, I don't think reinventing the wheel would be a breakthrough.

Let's put the browser extension aside, Amazon accepting Bitcoin would be good for the ecosystem. But, IMO we need more than that. We need everyone, and every major retailer to accept Bitcoin.

The immediate you expect will come soon as ever when there is high anticipation for the bull market, toward the end of the year online market store will open transaction with bitcoin and some other altcoins , then most of the market will prefer payment in bitcoin if customer demands and store for the asset, there usual is to close the market after bull market like we had. Bitcoin enthusiast will still stick with fiat than bitcoin for the asset value.

Not bad, considering that amazon is one of the leading platform out there but I don't think it will impact Bitcoin too much. I don't see a lot of people using Bitcoin as payment except those who really own Bitcoin. Though it will help with Bitcoin adoption, I rarely see people use Bitcoin for online shopping. Can't imagine people buying Bitcoin just to shop in amazon.

It won't make much difference except one major possibility that in the look after of the happenings in one of the biggest platforms for online shopping and almost anything, other big competitive platforms will also start accepting Bitcoins which will surely give a boost to the learnings of people who haven't even heard of BTC (yes, there are still many places where they don't know about BTC or anything about crypto) and it may also help boost the value of BTC because they will definitely want to be a part of those fresh geeks who find themselves learning and spending something new, something that is not certain at its value and can be worth more or less today or tomorrow.

When Amazon will accept Bitcoin in payments?
After the launching of Libra currency ( Facebook's coin ) I would guess, they are waiting for that event  in order to happen, if Facebook will success then there is a great possiblity that Amazon is going to launch its own coin too, and at that moment, Amazon will put it as a payment method and of course same thing for Bitcoin and maybe other cryptocurrencies like, Ethereum and Bitcoin cash. Let's see what is going to happen.

I don't trust Paywithmoon, there are a few shady things behind it.

It collects your data without asking the users their permission by manipulating the DOM browser and you can not opt out. When you install the browser extension it knows what pages are open in your browser and much more.
When you initiate the payment using your Coinbase account, it extracts the API keys (without you notice it) and the keys are stored on a server they control in plain text, it's not encrypted.


Amazon doesn't care about cryptocurrencies and it prefers to focus on Amazon Pay


Microsoft, Overstock, etc accepted Bitcoin on their store. Did you see a "major" boost on the price?. I don't remember something noticeable People won't go to purchase Bitcoin (paying a fee) to be able to pay their items on Amazon (and paying a fee again). Why not just pay with regular methods (GC, card, bank transfer).
As someone mentioned, if there is a decent discount then it may be another story

This is actually my first time hearing about such a method for payment in Amazon. To think that this is a huge company, it is indeed a wide shock. I've done my research. Bitrefill claims that you can actually purchase gift cards for entertainment, gaming, and travel or mobile refills quickly, safely, and privately using Bitcoin and other cryptocurrencies. It has a 4.5 rating and has actual positive feedbacks from users on posted on twitter. I also checked if the post is legit, and it is. This is a breakthrough because if known widely, online transactions in the same field or platform can accept the use of Bitcoins as payment. But I still think that these posts could easily be tampered or just made for promotion. Fake news must be stopped to reduce the doubt among people and even Bitcoin users. if it is indeed true, this must be tried, examined, and observed carefully.

IIRC, around 2016 or 2017 there were people that were actually telling this that soon Amazon will accept bitcoins directly. However, it didn't happen but somehow became true but with help of third party providers.
It will make the mass adoption quicker and it's Amazon so whichever cryptocurrency they'll start accepting directly, will hit big. But we don't have to wait for that moment, they're already good with 3rd party that helps bitcoin users to pay them w/ it.

It probably depends on Amazon, and how decentralized the browser extension is. Using a decentralized tool on a decentralized online store would work long-term in my opinion, but am not sure about mixing decentralized tool with centralized online store & vise versa. It will probably work short-term. It could however work long-term if the tool and the online store are both centralized... because it becomes easier to partner with Amazon after following some rules.
I think value from fully decentralized transactions is a better and safer value for Bitcoin network. Besides, owners of centralized companies could one day pressure Bitcoin network to play by their rules or they withdraw their huge value. The Bitcoin principles/rules should be supreme, and must be upheld by all stakeholders all the time.

Even if facebook's libra will be involved in this project (which is not necessarily will happen) its still a great leap forward for crypto adoption.
We are going to see great interest from social media anyway and it will lead to fresh money flow into the market

I was surprised to see the title and even more surprised after reading your first post "just a dream" . I'm sure it will be a major breakthrough if the payment can be made directly. While there are already many services that offer gates for payment using Bitcoin at Amazon Shop, I think this is common, even though we also make a third person through Paypal.

are you sure with this?? can i get that source, i want to see if the price is good.

first of all your forum account was a newbie so why call your self isnt ? this idea also happened long time ago but you knew that before , the only problem is that you didnt posted it before so its still acceptable for me but still thanks because this gives others an idea to try and use those service  .
 like i said earlier the idea was not new and i think when people started using it , btc and crypto community already excel a little  and hopefully now when more new users see this .

Of course, he will not be able to provide you with any source, I believe you are aware of that. Amazon to accept bitcoin payments, or any other crypto payments is an old story. People talked about this before I joined, and people will speculate about future of this for a long time, because I think we will not see Amazon accepting any crypto any time soon. I never traded with amazon gift cards, and I doubt that trading volume for that gift cards have any connections with crypto itself.

Well, those would be very positive news, but I do not see it as a breakthrough...
On one hand it would definitely raise awareness among Amazon customers and would be an incentive for some crypto holders to start circulating their BTC instead of just holding (if no one spends their BTC adoption will be difficult)
But on the other hand volatility is too high... and that one is a killer for something like Amazon

I see there is progress for ecommerce like amazon can support payments using bitcoin and that means they have seen how easy it is to make payments using bitcoin so from this way amazon can increase transactions for payments using bitcoin and this method is great for customers who have difficulty make a payment.

well done for amazon, good job because it can start the initial steps that can provide a good influence for other ecommerce.

I prefer to wait for amazon's announcement that telling to the public that they will accept crypto as the payment because I am afraid that if we use a browser extension, it could attract hackers to find the hole. That can make us get trouble because they can see and steal the coins from that hole. I prefer to use another wallet that can give a chance to pay directly through the amazon website than to use the browser extension. It looks safe, but we don't know if they can always secure the file from the hacker.

Every developments is a good news for all who've been following the footsteps of bitcoin, and now direct payments for online shopping has now begun to show off.
The thoughts is infinite and would gather more interesting information from all sectors that loved to see cryptocurrency showed intimate breakthrough towards physical marketplace.

In my opinion it will not give a real breakthrough on the growth of bitcoin if amazon accepts payments with bitcoin directly. One large company
will not have a big effect, but the results will be different if all the big market places on the internet are all already received payments directly
with bitcoin. That can only be called a real breakthrough, because those who use bitcoin will be very a lot, this will increase bitcoin demand and
can make bitcoin prices continue to rise.

For amazon user's yes, but there are a lot of those that use amazon, for example in our country where online shops like Lazada, Shoppee, and OLX are popular. I usually use Lazada and shoppee but we can' use bitcoin since they are not accepting it so we use this exchange to get credit or coins in that online shop using bitcoin. Still, we are not directly using it and still convert our bitcoin to fiat.

The shop will have a wider range of audience due to the increased number of payment options but not enough to actually make a substantial shift on the adoption curve for bitcoin. We have had instances wherein huge shops and known companies accepted bitcoin for a while, only to drop them off due to the low number of people who actually uses it, plus the fact that the volatility of bitcoin hurts so much on those who directly accept it. Steam, for instance, accepted bitcoin payments back in 2015, only to silently drop it a year and a half later with reasons unknown. Though there are a lot of gamers using bitcoins to buy games or whatever in the said gaming platform, ultimately Steam has to take it down due to it not doing anything good in the company (I guess).

The question "When will Amazon accept bitcoin?" has been asked 1000 times on the forum and this topic keeps getting attention.Can't you people realize that Amazon will never accept bitcoin payments,because the authorities won't let them?They are a giant corporation that's tied to the current fiat credit/debit card system and they have no plans about creating their cryptocurrency or accepting any existing cryptocurrency.
We will continue using services like purse.io,when it comes to buying stuff on Amazon using BTC.
 

You’re free to mention the site, and moreover most of us here already that you are either talking about Purse.io or Bitpay. With purse.io you will be able to make Amazon purchase and make payments with bitcoin. It’s been around for quite some time and that’s what some people have been using, though I have never used it for once.

But, I have checked out the site quite a few times. Another means for making use of bitcoin to buy on Amazon is through Bitpay. With Bitpay there are lots of possibilities as you can purchase gift cards of Amazon, Xbox, delta,Uber and a lot of them through their wallet app. I have used it to purchase an Amazon gift card for once. I am not really into it since I do prefer to make purchase from my PayPal. But that’s just me.

Well if this is true then it would be one great step towards BTC adaptation.
I also found this site https://giftcards.switch.ag but I haven't tried it yet,
Could there be someone who have experience using this site?
It seem's good but I don't really want to try something new without having some feed back's if it is legit or not.

Amazon having their own stablecoin could be really scary, same with facebook and microsoft and apple as well because these are HUGE companies and if they get any more power financially aside from just profiting from their work, they could be unstoppable and could become too powerful to bankrupt which means they will start doing whatever they want to do and if they fail simply they will be bailed out and knowing that they will do whatever they want with that freedom.

I still think no private organization should be allowed to do stablecoins in the major nations, maybe small island nations and all but no major country should allow their big companies to build any stablecoin and should simply do government stablecoins.

Exactly! You nailed it mate. A private company, even how big it is, cannot control the country where it resides simply because the fact that they are so called private. So chill dude, you already sounded paranoid in your post :D. Imagine this, if Facebook's Libra which is one of the biggest companies of our era considered as a failure then what more for smaller companies. Government 1 - 0 Companies, 3 to go lol ;D (just based on your list).

Not really, as far as I know there are already big companies that accepts bitcoin as another mode of payment but it doesn’t have any breakthrough effect bitcoin’s price so I think Amazon accepting bitcoin will do any big difference at all. Well, yes it will contribute in attracting more investors because amazon is a big company and it is well known so if they will do that then there customers will be able to know bitcoin and hopefully will invest in it.

I jump to this thread with the hope of seeing reasons why bitcoin should resume it bullish momentum only to fine out that it was a dream. It is good and your dream should be a prove that something similar might happen very soon and we are going to see bitcoin up again.

I think online acceptance will change the bitcoins outer world. I know we will need it to be in our daily lives but if bitcoin became something very common in the online shopping world all around the world with all the big places that takes online payments, that would kind of make it a lot better adopted everywhere else as well.

If amazon directly accepts bitcoin even that would be a big enough deal and if other places follow that and keep on adding bitcoin as an option that would be even better places in daily lives like grocery store or whatever that doesn't accept bitcoin now can see those big companies and may want to add in bitcoin themselves as well to become a bit more competitive.

This ian't impossible actually and may possibly happen in the near future. We are embracing digital transactions lityle by little that is qhy it was nit surprising if the time will come that amazon starts to accept cryptos. If this will happen, like what you have said, it will reault to a mass adoption and this was a positive thing for bitcoins and other cryptos.

right, large companies with consumers around the world, of course, will bring big changes, where mass adoption will occur. if this is followed by other large companies, I think it can force the government to legalize it, given the many sources of tax there

It would give bitcoin price a boost maybe. I never really tried purchasing on amazon because of I fear that maybe my item won't get shipped to my country. Another thing is that I don't have viable payment methods like Visa, or MasterCards, Banks accounts. So if this breaks through and somehow they would accept Bitcoin payments directly, maybe my fears would go away and would try to purchase items using Bitcoin. There are a lot of people that wanna buy things out there but don't have the means like me. As of now I am purchasing in an online shop with Bitcoins (country based), but the items are limited unlike amazon which is vast.

Definitely that would be a game changer, Amazon is the biggest online shop if I am not mistaken, therefore they will attract adoption from their shoppers.
If that would happen, shopping with Amazon would be easy especially on people who does not have a bank account, debit card, and credit card.

We got some good list of companies that accepts btc- https://99bitcoins.com/bitcoin/who-accepts/

Well, we live in the century of technology and the most advanced equipment, the educational level is also very high, I do not believe that someone will lack a bank account when it is an essential tool in life and we only take a short time to get this account while bitcoin is a strange account for many people, shopping with a bank account is probably easier than bitcoin. Talking about the information that Amazon accepted bitcoin, it appeared many years ago but it was rejected, the value of bitcoin does not create equity among buyers, payment confirmation and control is also a problem

If these private companies can overcome the regulatory issues then there is nothing to stop them in coming up with their private centralized currency and the success rate of those depends upon how well people will be migrating into it and how profitable they can be minting their own digital money and maintaining the network, it is not an easy and lucrative business as we think it will be in my opinion especially if it is a stable coin and one miscalculation would take the company to bankruptcy especially in times of disaster.

Since this is a new market there will be many experimentation carried out in the next ten years, private companies coming up with their coins or token, countries coming up with their coins and many more drama is to be seen. If a company is able to hold an equal asset in accordance with the stable coin they are planning to come out, then why not.

Its a stepping stone, its a big part of why BTC is in the region of 10k today not still a tenth of that and people just assume the spike prices are forever when it can also be never again and just a spike but we need apps like this to solidify the gains or BTC is just speculation and money changing and a ticket between two places but never the destination which means it gets replaced by something else.   I think innovation by BTC in order to become commonplace is a requirement, I dont think success is assured or the silly targets must happen its amazing they might be possible at all.

Absolutely, even if the biggest private company can get their own stable coin, yes we can say that we can be successful by doing that but it is still hard to become one of the alternative coins and making it stable. Because we all know that cryptocurrency is volatile in price, meaning it is changing time by time when there's transaction happened. In addition, I can say that it is true that any organization and company can do some stable coins but the government will really allow them to do that? Maybe if the government supports their project it can happen and gonna be implemented, as of now there are still countries that did not recognize bitcoin as a good currency.