Bitcoin Forum

If yes, expand a bit. Do you think they're going to convert some cash into BTC, or will they just accumulate by accepting btc as payment?

If no, why not? Tesla, SpaceX, Twitter, Square, Paypal, Visa, etc are all adopting, does the largest ecommerce platform not have anything to gain here? I think they're more likely to have BTC than go out of their way to build their own crypto like facebook.

No. Because growth companies such as Amazon need their cash ready to be used for more growth. Not saying it's impossible though, who knows what the economy would be like then. Just unlikely in my opinion.

I think they’ll definitely have BTC on their balance sheet and that will come before they accept it for payment. If I were in charge anyway the play would be simple. Add BTC to balance sheet, make announcement to accept it for goods, sell initial investment when it’s massively profitable, slowly earn your BTC back with sales.

Amazon is very hesitant in accepting bitcoin for many years now , and since at last they are considering this to happen after big companies finally do the same I'm sure that they will only Accumulate Bitcoin and will not convert any of their funds to it.
Maybe for their own security .

I think they will accumulate it for the future. Bitcoin price is not stable right now so if they do lump sump buying maybe they will loss some opportunity to buy at lower price. But if they accept btc as payment then at the same time they do dollar cost averaging that be done by their customers. I think they need to use their cash to grow their company so they can reach more customers.

If by chance they are going to accept BTC as payment method in the future, they will get a third party like Bitpay or Coinbase payment to handle their bitcoins. Maybe they will convert it readily for cash or just hold on it. So it's a win-win situation for them, but it might take some time, we have heard this rumor since 2017 if I'm not mistaken and fast forward 4 years later, still remains a rumor.

I think that Amazon is not currently thinking about buying bitcoin, most likely they will just accept bitcoin as a payment method in their largest online store on the Internet, of course through the buying and selling that will take place via bitcoin Amazon can keep some bitcoin and accumulate it for long periods as a kind of guarantee, no one knows exactly.
But this news is sure to have a huge positive impact on Bitcoin and may help pull the market out of the red.

At the same time, it has a counterproductive effect. Amazon came out to clarify that it would not accept bitcoin as payment, and bitcoin fell accordingly.

Yes for more promotion for Bitcoin but there will be an extreme cons about this matter, Prone for more market manipulation and tons of newbie buying Bitcoin without doing there research then post a hate speech about bitcoin because there initial money suffer some losses. But this is gonna be the goal of bitcoin to stay alive and on trend on the market, To get more exposure from top tier company with millions of user nationwide

They currently accept Bitcoin on Twitch.tv which is owned by Amazon. I think the use BitPay as their payment processor. They would probably be open to accepting Bitcoin but they might be afraid of all the hate they will get from the environmental concern trolls.

No, for a specific reason. The company has already been in the top. It keeps extending its business on all corners and on all products. So, the money generated as revenue is continuously in usage. When the same is turned to bitcoin, it might get affect due to the volatility.

Yes, for a specific reason. I don't think Amazon will have bitcoin on their balance sheet of 2022. Because, already they might've invested and keeping hold of bitcoins indirectly through some other firms for sure.

Actually the Rumor comes from 2016 before the Bullrun of 2017 yet until now it is a Rumor again.

I Voted for yes but i will believe on this when it happens already  because the longer we wait is the higher we are disappointed .
Not only for promoting mate instead for all of us to benefits.

I am a Amazon user for years now and if they will accept bitcoin then that saves me lot of time.

I believe that eventually Amazon, like many others, will start accepting bitcoin as payment but I don't think it can happen this soon (about 5-6 months). I think most of them aren't yet sure about enough revenue could be generated this way and may be still worried about the fees. For example take a look at the past 24 hours, as price started having a small rise we had another spike, although people are still paying low fees but the mempool size grew as big as 100 vMB.

I agree. This will definitely not happen, not to Amazon and not to any other company. A lot of things went wrong with Facebook and the headache is not worth the effort not to mention that the product with be garbage and people won't use it as long as there is fiat and there is bitcoin.

Huh?
When did that happen?
https://mempool.space/graphs#24h
https://i.imgur.com/Nmk31SW.png

The previous nonfull block was 692783 (https://blockchair.com/bitcoin/block/692783) and at 692827 (https://blockchair.com/bitcoin/block/692827) we had another half-empty block, even if memspace is broken there is no way 44 blocks would have cleared 100 vMB of pending transactions.

https://jochen-hoenicke.de/queue/#BTC,24h,weight shows this number at the peak but now that I look at it again it seems like the 100 vMB is the total which is counting fees below 1 sat/vbyte for some reason!
1 sat/vb + fees reached ~9 vMB

I think they are large enough to just accumulate BTC and create another fund without investing anything but the payment processor system that they need to integrate. After that, I don't think they are going to have a problem with getting BTC. I think the approach that they can do is just like what Tesla did and convert some of their liquid cash. In general, this would be a great milestone for crypto adoption.

That's right. I read amazon accepting bitcoin yesterday. And today Amazon has released a statement bluntly denying multiple sources' reports that amazon is planning to accept Bitcoin payments this year. After Amazon's denial was announced, bitcoin price tends to reverse and decrease.

I voted No mainly because of the date. I also think they will accept BTC payments eventually but it's still too soon. They are probably just waiting for more of their major clients/customers to adopt it before they start opening such service.

With regards to converting their cash to BTC, maybe they will liquidate some of their investment in other markets and transfer to BTC.

Most of the influential companies don't really accept payment to something that will undergoes another process before conversion to cash, but now it seems that it's obvious that Amazon is currently accepting BTC for payment, and if these really stand effectively it will brings another shape to cryptocurrency industries, so from my views companies that purchase BTC and store for accumulation, but that shouldn't mean that they do not convert when they are in need of cash.

You're wrong there. All the big companies that accept Bitpay, which is probably the most used payment processor for Bitcoin (at least this is  from what I can see) do so because they want to accept Bitcoin-paying customers, but they actually do not want to accept another currency other than USD or whatever fiat it is they receive.

None of the Bitpay merchants have a Bitcoin wallet:)

Every big institutions today already have Bitcoin on their balancesheet. They too should have.
It will still be good to accept BTC for Amazon even if they know only a few people are going to spend BTC on ecommerce sites especially that Amazon is going to ask KYC too.

What better time than now because the more people learn about them accepting Bitcoin, people who have cryptocurrencies on their wallets are potentially their customers.

I'm wrong how? Does it mean that all the ambiguous or popular companies accepts payment with btc... The simplest truth about it is ...NO, shall if they fails to accept other currencies I think it left for them, because is not every body or anyone that come to patterner with them will go in accordance with their condition, basically fiat is the pioneer of all the currencies, and digital currency can't depart from fiat due to it's more influential than anyone or other currencies.

I do not think accepting Bitcoin as a means of payment is the same as adoption. Adoption usually means actual use of the Bitcoin network, which I am very sure not all of these names you mentioned are doing. Maybe Twitter wants to do it some day because it wants to do Bitcoin defi. But if you use Paypal now you do not even have to have a Bitcoin wallet.

There have been reports of this, and they completely denied it, but actually I find this to be the remarkable thing. 
Perhaps such news can stimulate growth in the short term, but we will wait for this to happen.

Amazon is running out of sectors to expand its business. Recently they have been making some overpriced purchases, which makes zero economic sense. One example is the acquisition of MGM (Metro Goldwyn Mayer) studios, for $8.45 billion. It made most of the MGM movies (4,500) and TV shows (17,000) available on Amazon Prime Video. But given the fact that most of the blockbuster movies can't be immediately added (due to existing agreements), the deal looked overpriced. On top of that, there are concerns regarding anti-trust actions.

Of course, yes. It is unlikely that they would have refused the additional profit.

Very good question.
They will 100% sell their coins because their deals are in cash and they need to pay the vendors the exact values for their sold items, so I don't see it as an adoption but rather being used as an alternative to cash only. Your question rose more questions in my mind, and I am going to throw them here in a few moments.

And by the way, there must be a third option in the poll - 'May be'.

A lot of rumors about Amazon in the past, Although recently they continue to deny supporting bitcoin and claim not to hold a stake in it. But for a long time, Amazon has been really interested in bitcoin and crypto market, they were planning to create a new coin but so far, everything is unconfirmed. So those are huge signals to believe that they will be entering the market with bitcoin soon. If it is indeed happening, the market now looks to be cheering but I think it is not serious to set up a short rally.

If they are exploring Blockchain technology and hiring expert for that purpose even if they are not planning to accept BTC at the moment but it's one step forward for acceptance and for sure they will be adding it as payment option if not as an investment on asset side of their balance sheet which is also a positive point for adoption.The million of users who order from this biggest e-commerce website will also use btc payment option.But I am not sure they will take this decision by Jan 2022 or not but they will do it which matters the most.

Interesting to see that this as a thread already, and even more so to see the results with more people expecting Amazon to accept crypto payments...

Personally, I think it will take some time for Amazon to get the infrastructure required to accept BTC as payment directly (on top of gift cards), and seeing how governments moved their regulatory power onto exchanges, Amazon could potentially have issues with legislations too. Which is why I do not see this as a feasible outcome in the next 2-3 years.

It's a yes!

Buying crypto I don't think Amazon would go that route of investment  but accepting bitcoin payments this should be part of their plans to grow their business environment as crypto is a fast growing economy which would help it grow in the long term and give it a leap over other e-commerce businesses in terms of profits and customers.

Their competitors are adopting cryptocurrencies, and it will be unwise not to integrate this technology into its e-commerce platform as it would mean loss of business in the future, to avoid this crypto payments should be introduced.

Not yet since PayPal hasn't given any public positive feedback regarding their crypto implementation. Companies like Amazon are waiting for that result before they make any move. Looks like there will be a possibility but next year will probably not be the right time for Amazon because it's not that easy for them to implement that kind of service. For a huge company like that, it requires time before they finalize whatever decision they made on their meetings.

Personally, I don't think bitcoin will be accepted as payment by Amazon quite yet.
Though there's a rumor through out the world about Amazon accepting bitcoin payments by the end of the year I think it's just some crypto believe trying to spice things up.
We shouldn't believe this news unless Amazon officially announces it on the social media platforms.
It's not that I don't want bitcoin to be accepted by Amazon since I would be more than happy but it's just that we can't make our judgements based on any rumor.

currently amazon is a very large store if amazon accepts BTC as a payment method i think i will list it in the payment method selection, but i still wonder if the payment is quite small compared to With BTC, the transaction costs equivalent to that item, what will they do?

I mean with how things are going it is really hard to say for sure if they will do it or not, but if more and more big companies start putting it on the table and if the news about apple also investing it and tesla reusing it, we might see a snowball effect and the bitcoin will start getting implemented into the market and we will see it grow in a big way which will lead to the price going up, so maybe we will see them holding it

This could be the next thing what can happen and if it happens it will be a big thing in the bitcoin world and market will rally big time. Since if amazon decides to accept the btc as a payment or even as an investment purpose invest in it will just boost the sentiments among people and many will start buying it resulting in greater demand.

I think Amazon has everything to gain and nothing to lose if they decide to add Bitcoin to their balance sheet. But whether they're interested with that or not, I could only guess.

But I agree with OgNasty here. Amazon is a giant. If even the rumor, which was eventually proven false, that they will start accepting Bitcoin soon already moved the price, how much more could an official announcement does?

So I guess Amazon would be adding Bitcoin to their balance sheet. When? I do not know. But that must happen before their huge official announcement that it would now be accepting Bitcoin. That must be the best strategy, to leverage one's strong influence over the market. After all, that's Amazon. That's making Bitcoin available, or at least known or promoted, to hundreds of millions of customers around the world. That would definitely create hype.

This is what I was referring to when I said you're wrong. You said Most companies don't accept payment that undergoes another process before cash conversion.

But Bitpay is the most used Bitcoin payment processor for merchants online. It converts BTC customers pay to fiat and gives that fiat to merchants. In fact, most Bitcoin payment processors work like this. Very few companies have actual Bitcoin wallets.

I do not support it because I often shop online. For Amazon using Bitcoin to pay, I think the most unacceptable point is the refund, because Bitcoin is quite unstable and the price fluctuates greatly. You can buy something for $500 in one day, but you are not satisfied with it and return it for $400 (or higher) the next day because the value of Bitcoin has changed. This has brought difficulties to enterprises. This also brings a bad experience to our users.

The rumors on Amazon planning to accept Bitcoin are  debunked (https://www.reuters.com/business/retail-consumer/amazon-denies-report-accepting-bitcoin-payment-2021-07-26/). There are different kinds of riches, and they have different attitudes toward cryptos. Musk has been sending mixing signals but at least showing some interest for years. Jeff Bezos, on the other hand, never seemed to care, and apart from the recent craze and a couple of earlier rumor-based articles, there seems to be nothing available about Bezos and Bitcoin. So I don't think this is happening. Not yet, anyway.

Regardless of what you pay, you would get refunded for the price of the item.

I seriously doubt Bezos is indifferent towards bitcoin. His company is global, so it's very likely that he has personally dealt with the challenges of a highly disjoint legacy financial system.
Bezos understands the value of information networks, and has shown that he's capable of getting on top of core infrastructure shifts. See the electricity metaphor (https://www.youtube.com/watch?v=vMKNUylmanQ).

That is because you like Bitcoin and are not a successful business owner. The guy did not fly to space and made all his money gambling,,, he did it by becoming harsh and economically minded,,, and taking different risks.

For sure he will buy Bitcoin on his own but to ask his company to do the same? I think that would put him in the same Elon Musk hot water!

No. Large companies like that will have problems with the government and they don't like that idea.
Invest, yes. Used as a medium for sales, no. Not yet.
As I looked at the recent news, they were even reported as accepting Bitcoin as means of payment but they denied it solidly.
Perhaps, it will just give them more trouble than using the traditional way.

Amazon has been both a growth and a value company for a while now. They aren't the 100% growth company they used to be when they poured every single penny back into growth and even took loans to accelerate growth further. Those times are over because they already saturated whole market segments all around the globe, there is hardly any room left to grow for them in some areas.

Or what if they accept it and then treat us like PayPal did? To me,while we expect the best to come through, we must not rely on any news. Even if Amazon announced it, I'm not sure I'll fully expect it. These days, people and their companies just say things to get more attention / marketing .

my answer is a big no


this issue of high volatility and regulatory issues is one of the biggest obstacles preventing amazon from accepting bitcoin, they have their own business characteristics and besides i still haven't heard the amazon owner put at least a chance that amazon will ever be integrating bitcoin which clearly shows that if one day amazon integrates bitcoin it won't happen anytime soon, maybe it will happen in 2 or 3 years


all these companies that you mentioned years ago spoke of bitcoin even if they spoke badly but they spoke it's different from amazon which has remained neutral for years and I doubt they create their own currency

Lol funnily enough, if you take a look at their IR reports, they are indeed still pouring back money in to reinvest. And I really don't see how we can say that "they don't have enough room to grow" even if Amazon's eCommerce arm itself has a lot more room to grow globally; and that's just the tip of the iceberg.

I'm sorry, what are you trying to point out? I cannot seem to wrap my mind around your statements. They seem to be hollow and without any basis. How did you know I'm not a successful business owner? Did Bezos become successful in his business by becoming harsh? You seem to be picking up words from nowhere.


Elon is no Jeff Bezos. Amazon is no Tesla. How sure are you Bezos buys Bitcoin on his own? And Bezos does not dictate Amazon's actions and decisions. He was the founder but he doesn't have the sole say as to the company's decisions.

That is why I said "in some areas". There are also a lot of areas where they definitely will grow, not least in the (delivery-)food segment with drones and what not. Their highly profitable segments are quite saturated. In e-commerce the most important question would be whether they ever get into a position to conquer Chinese market share. Apart from that, which geographic area do they not dominate in e-commerce? Aren't they all over the place except for China?

Amazon's eCommerce arm barely penetrated the Asian market, which is a huge market. Yes, Amazon is available on countries like India and Singapore, but their user base is quite low because of competition against platforms like Shopee and Lazada.

Let me explain again in summary. It seems you do not understand people think different about Bitcoin.

1> You think Amazon has everything to gain from adding Bitcoin and nothing to lose. Only a Bitcoin supporter like you and like me thinks like this. Board members and shareholders who together make a successful business as big as Amazon will never think like this.

2> Yes Bezos became successful by becoming harsh. Please Google Amazon work practice but here is one sample report for you: https://www.ethicalconsumer.org/company-profile/amazoncom-inc

3> And this was my point exactly that he does not dictate Amazon,,, you misunderstood me. I said "Bezos he cannot be telling Amazon to do".

Big companies like Amazon will benefit from the acceptance of bitcoin, it will give way for people that do not have a credit card to do a purchase online if they see it will increase their revenue, then they will accept bitcoin.

A big company just has to ensure that they will not have a problem with the government, especially its authorities, and I'm sure they have a lot of capable accountants who can do the job for them to manage the risk of bitcoin's volatility.

I voted yes, I'm just optimistic though.

Amazon maybe at that time was still a little hesitant to accept bitcoin as a means of payment, but now those doubts are starting to disappear a bit with large companies starting to want to accept bitcoin as a legal medium of exchange for adoption in the company, and it is also possible that the Amazon company will starting to consider accepting bitcoin as a transaction tool in their company

i dont know but my guess for now is they wont but they will only accept btc and if they have accumulated enough amount , they will sell it for cash .
some companies like you mentioned are differet like for example paypal , paypal will need to buy or convert some of thier cash to btc so that they can offer a btc to thier costumers  . if amazon has a plan of creating thier own coin they could have done that before and they will not use btc .

I remain optimistic as the writer of this article at Bloomberg.
It is logical that Amazon wants to know how the adaptation of the platform will occur to accept bitcoin and cryptocurrencies. So an official announcement will not occur until the incorporation works perfectly. There are those who go ahead but in this case, since it is about bitcoin, which is a very speculative asset that is managed by the crypto market, it seems that it does not like to create expectations, it is better to move towards the facts is my point of view.