Bitcoin Forum

Amazon denies it will use Bitcoin and other major cryptocurrencies by year end:
https://www.forbes.com/sites/billybambrough/2021/07/27/bitcoin-suddenly-gives-up-its-price-gains-after-amazon-shock-sending-ethereum-bnb-cardano-xrp-and-dogecoin-sharply-lower/

Also, the "new" job posting Amazon posted for a crypto expert is old news, by at least a month and a half:
https://www.financialnewsherald.com/2021/06/08/amazon-is-looking-for-a-head-of-product-in-blockchain/

It looks like there is some manipulation going on in the crypto space... Elites pulling the strings? Thoughts?

Nope. It's mostly just really naive retail "investors"(a.k.a. fomo boys) believing everything they see on Twitter. The same thing happened with a rumour about Apple buying bitcoin like less than a month ago.

Rumors come out before something real will happen. I don't believe in rumors but the fact is the growth of blockchain industry will put big corporations under the unavoidable changes. They will have to develop their blockchains, upgrade their systems to serve future demands on blockchain-based merchants, etc from their customers.

They will open their gates for Bitcoin and cryptocurrency. It is matter of time and I expect to see it before the next halving of Bitcoin, in 2024.

I don't think it's really an act of pulling strings by overthinking.  Information about Amazon is not unfamiliar to this market.  That is not the impact for this rally, the retailer has increased very quickly in the past 3 days, the volume of buying and selling is consensus.  Bull markets are just a matter of time and patience.

Correct, people believe whatever they are told especially if it is something that benefits them, so someone just created this by either misreading information or just saying what he wanted to happen and people began to misinterpret it and then all of this happened, however people also do this not only out of ignorance, there is an old proverb that says ‘buy the rumor sell the news’ and this is exactly what those retail traders are doing.

Currently, the fact of accepting BTC as payment for goods in the amazon store has not been confirmed as true, because currently I have not seen the option to pay in BTC, so the news has not been confirmed to be true the truth.

Okay then case closed.

The market has already stabilized with that news so everything we see right now is natural again. There's no more FOMO happening with this clarification and that's a better news than that rumor.

Great then. The less corporations coming in the Bitcoin world before it becoming mainstream, the better. No need for corps to join us, Bitcoin does a tremendous job all by itself.

I was chucking yesterday at people calling this unverified rumor "great news that will bring Bitcoin to new heights". It's very sad to see so many people in Bitcoin community being blindly led by their emotions. "Don't trust, verify" is one of the principles of Bitcoin, but people always trust and believe in anything that could mean that their coins will go up, ignoring all critical thinking.

If Amazon really does want to get in the Bitcoin game, probably something along the lines of the Paypal operation, then they might be looking to suppress the bitcoin price in the short term so they can stock up at a lower price. If that is their hidden strategy then it is very possible that some higher ups got very angry when such a leak was announced. There may even be other reasons for Amazon to be advertising such a position - maybe they'll use Bitcoin or another cryptocurrency to move their funds across borders, being able to avoid banking fees that they have no control over. Alternatively they might be interested in the blockchain technology only as a means for tracking inventory integrity or some other purpose.

Even if they denied the fact that they might be using bitcoins and other cryptocurrencies, why is this a big deal? They are private companies working forward and involving themselves with new technology, they have to do what's more beneficial for them at the moment. The price of Bitcoins have been really volatile for the time being therefore at the end of the day, companies will try and be distant from a volatile variant..

The reason why Amazon might have hired someone who had a strong background in cryptocurrencies is not actually only because they needed a crypto expert but they might be hoping to integrate, maybe not now but later on and had to see how the implementation will go. It's a big step and if they do it like how Tesla did, using polls on Twitter, it's bound to fail.

Let them take their time.
If they are denying maybe they have different plans.

You know that's what the crypto space has been about since the days of Elon Musk and Tesla as much as I know it. The times have changed, it's now a time of FUD, FOMO and the whales pulling any strings they've got just the turn the Mar in a direction and then, they make a few buxks and again tune it back. It's so said that, experienced crypto users play into this sort of tricks, even with the knowledge that, this could be the sort of thing at play, we still play along. We'll, playing along isn't bad if you could make a few bucks in the process. Where the loses often comes is on the part of those who are selling.

When amazon says that they will approve bitcoin as a payment method it was just a rumor. Then people made it a sensional news now the soo called news portal comes again to made another fud and say they denies to approve bitcoin. In both case we misunderstood everything. They didn't say they approve bitcoin then how they denied it. They actually denies those news they didn't denied bitcoin and they mention one more thing they are studying about bitcoin. Well they want to announc something like they will made a decentralized method for payment but that should be their own. It should be like types of points, coins and it needs to be buy from there store too. And that might be a decentralized.  But because of Fud news they postponed  that idea too. Now they say they are looking into it.

There is nothing official about the usage of bitcoin by Amazon. People are much into the usage of bitcoin and the same is being used as a source by the news agency making connection to Amazon. We can see more such news floating over different social media platforms. A coffee Shop accepting bitcoin can be believed when a news article display it. A firm like Amazon getting into bitcoin can't be believed the same way.

I've guessed that some people exaggerate this invalid information...

We should be aware that the statements that are not issued by the official speaker of the company should not be taken for granted, but the good thing is that we saw the price of BTC jump to almost $40k in just a few hours.

Well, that sums up! It's a big business decision for a company like Amazon to actually use a hyper volatile currency system like bitcoin. They could make huge amount of losses if the market goes down. And the kind of volume Amazon handles on a daily basis, that could become a huge amount and it may very well be possible that Amazon will end up paying suppliers out of their pocket. It's a huge business risk and it's extremely difficult to provide business justification to the board members. So that's exactly what I had expected - a rumor!

Guess what, still many buys the rumor and probably one of the reasons or the main reason why bitcoin rose from 30k~ish to 40k. Though they just announce about the denial, yet it barely affects the price.

Though it might be good for traders/holders now, yet this does not change that fomo/fud came from rumors still have huge impact to the price of bitcoin or cryptocurrency, be true or fake news.

Doesnt matter on what are those words do comes out to their mouth neither those rumors become true or would simply be denied.It isnt surprising and we have seen those denials on how many times.

We know on how big Amazon is but we dont actually know if they are really tending to accept or integrate bitcoin. Well then? we dont really care at all because market could continue

without having these things.They might be a good add up to overall adoption but doesnt mean that rejection or denial is something we should mind of.

No biggie. It's interesting though that they came to deny such a rumor. (Do they have interest in having low prices for crypto?!)



Some degree of manipulation is always present on the crypto space. And since the price didn't react to quite a list of real good news, even though it's summer hence slower period, some may have gotten bored and wanted to liven up the things a little.

It is hard to assume immediately especially that rumors are just rumors and you have nothing to do with it.

Amazon is a huge company and people are really make some issue with it because they know that it can greatly impact the market.

We should wait for the adoption of bitcoin itself and not push a certain company to adopt it because it can somehow bring give feedback on bitcoin instead of good.

Amazon wouldn't benefit from the said rumour. Just the speculators who pounces on this news, takes advantage of it, pump the price and then sold off. Surprisingly, even after Amazon put down the rumour, the price is still pumping, going back to $38k now after falling from $40k->$36k.

So it's open for interpretation, no news but the price is going up, natural or artificial pump? Your guess is as good as mine.

Rumor to be true or not, it's going up. They wouldn't want to spread the word and be the reason for Bitcoin's resurfacing up the resistance so yep it's hard to stop the smoke from coming up when the fire is already burnings fresh leaves. Even if they say is not true today, there will still be people believing it's true. There is nowhere else for Bitcoin to go but to be adopted by everyone including Amazon stores.

I almost believed the rumor that I have heard yesterday and now the fact was revealed.

IMO, we don't need them, they are also a big threat to the Bitcoin price heavily volatile, once one of those big institutions will sell their Bitcoin asset, it will always have an effect on the market price.  Bitcoin will grow by itself and we are already in the mainstream for sure the adoption by individuals or big institutions will always be there.

The news was probably a manipulation on Bitcoin price and as we saw, this didn't have an effect on price movement, besides Bitcoin price at this moment almost reach again $40k which is good to see that the Bitcoin price has surged back so fast.

Ok this puts the nail in the coffin. There are now a couple of threads here on the forum full of enthusiasm, but to be honest it's not only this forum. The whole market freaked out as it seems just for fake news. It's crazy how easy it is to spread such a rumor that turns out to be fake news. Whoever that was, I wonder if that person or group of people knew the market would respond like that. Congratulations then on their leveraged long position that they probably by now sold.

Well, not today, not even tomorrow, but one of these days. Maybe not soon but definitely later. After all, it's just a matter of time before these giant businesses would see the potential, maybe not in Bitcoin itself but in making more money by accepting Bitcoin.

Anyway, accordingly, the price suddenly spiked along with the rumor, but then fell down as quickly upon the denial of the unfounded reports. However, just as quickly as it rose and fell, the price is now trying to conquer $40,000 once again. Whether the rumor was true or not doesn't matter.

amazon rejects rumors of using bitcoin,, a lot of news now is confusing, who knows who is behind all this who issued news like this inaccurate news, who plays in bitcoin, maybe for now amazon has not confirmed themselves accepting bitcoin, please don't load news that isn't not.. the truth isn't sure yet..

Amazon's purpose is the same as Tesla's. It is to expose the unjoined public to Bitcoin and cryptocurrencies. Amazon, the world's largest retailer, once again flirted, not only accepting crypto, but also creating their own is a big news. We should be honest to affect its price. Bitcoin is incredibly resilient, but not from these huge events, at least not yet.

I mean, no one is really saying that Amazon will never accept bitcoin payments; because we think it's inevitable and it's just a matter of 'when'. But if you actually read the linked article, the speculation was concerning Amazon definitely accepting bitcoin payments specifically this year.

Kinda funny but hey... there are people including me who got some profit because of this rumor :D.
Because of this, price of Bitcoin surged a few days ago and I know for sure that many took some short term profits.

No manipulation involved here I think. Its just that there is a stupid popular twitter account out there who just spread this rumor and many fell to this too including some news article websites :D. Now the question is will they "really" accept Bitcoin or any other crypto in the future. I'm not expecting them to accept it at least this year but as soon as crypto gain its popularity and many will use it then its possible that they will eye on adding it. Not that optimistic though that they really add it.

The use of blockchain technology goes far beyond accepting Bitcoin payments. They deny that they will accept Bitcoin at the end of this year, but they do not deny that they have an active interest in blockchain technology. They are looking for an experienced product leader to develop Amazon's digital currency and blockchain strategy and product route picture. The crypto market is definitely something Amazon will explore, and they may also develop their own project tokens in the future.

What's interesting is that this news caused Bitcoin to break through 38,000 U.S. dollars, and now the price of Bitcoin has exceeded 40,000 U.S. dollars. Operation without institutions and giant whales is impossible.

The news came too suddenly, making people believe that Bitcoin is ushering in spring again. The trading account is active. This has to make me a little scared. For me, the Bitcoin price of $40,000 is a good thing. If a good market has not really arrived, will there be a drop in prices?

We will not know the calculations of Amazon, they are constantly responsive and interested in bitcoin but deny buying and hoarding bitcoin and other digital assets.  That is doubtful.  I think if they do, we could see their numbers reported by the end of this year, or early 2022. It's like Tesla announcing bitcoin ownership and I'm waiting for Amazon to do the same.  The market is moving and needs a strong enough impact to break the bears at 40k, it is a signal that the bullrun starts.

Haha,,, I said so yesterday it did not mean anything even if it was true,,, but look at prices today just back at abovr $40k for a temporary while just an hour ago and now still looking good and strong.

Definitely not about the Amazon stuff, stupid mainstream media for picking up on that.

Oh! it reaches them too quickly huh, we've been talking about this thing just the other day that this will not happen at least with the time period they given. Now the Amazon has confirmed it and there is no such thing to happen in the future. Looks like rumor has some speed buff to spread quickly than good news, the dude who spread it might think he can manipulate the market with mere rumors. Well, it doesn't work like that buddy, you need to be an influencer too.

It's still going up after they denied telling they'd be accepting BTC like it's going to hurt their business.

Probably binance limiting futures and withdrawal limit I guess are making users who aren't verified yet sending out their BTC before the date of implementation. Prices go up for the limited circulating supply, this is my assumption though. Still, there is no clear information for the reason for price to spike.

There is always something manipulating about crypto 😃 that is what all the FUDs are all about. Sometimes people might create news just to either bring down the price of the cryptocurrency market or try to use the news to pump the price which is the whole essence of manipulation. With Amazon coming out quickly to address the rumour means, it wasn't from Amazon in the first place and a purposeful act by someone or people.

Let me take a good ride after this so called manipulation, we aren't sure yet that this will be in hype sooner. Bear market still possible to happen unexpectedly, so let better be careful while there's already a fear. Just keep holding and bracing your belts now, before we see another bounce for btc will soon be trend in different trading sites.

Amazon will definitely accept Bitcoin in the future, they just aren't ready with the business model rules yet.  Big companies like Amazon and Apple will surely make the Bitcoin price go up high, they are in the technology business and certainly won't be able to resist the existence of Bitcoin in the future when mass adoption occurs.

I don't think that we will see less corpo in the coming years, even if it's not Amazon, there's still million other corpo that is interested in investing in bitcoin so I don't think that it's going to be it's a good news that Amazon isn't going for crypto right now.

I believe that this is 100% manipulation and it is already happening openly. As for Amazon, I think they will not tell the truth, because if it really turns out that they will use cryptocurrencies until the end of 2021, then now everyone will run to buy BTC, and their plans include the task of buying BTC themselves, but then, when there will be another round of growth in prices for cryptocurrencies, then there will be another news that it turns out that Amazon has started to use cryptocurrencies. So all this news is all pure manipulation. All that remains is to be more attentive and try not to fall for the tricks of the big players.

I looked in to this and it seems like it is legitimate news.  They may not be ready to accept bitcoin and or other types of cryptocurrencies by the end of the year but it doesn't mean they won't accept it at some point after that. When I read the amazon report the other day they quoted a spokesperson for amazon saying they are indeed hiring a blockchain/programming expert for potential future use..so there is still plenty of hope for this.

They’re probably hiring someone to secure a process for storing Bitcoin so that they can add it to their balance sheet. The last thing they want is for the price to soar from everyone frontrunning their trade causing them to get less Bitcoin for their dollars. That’s likely why they were so quick to deny reports. I imagine it will be a long time before we see them implement a system to accept BTC for goods.

While I agree that it's (or will be) inevitable, I can't say that the sooner the better. We have to learn patience; imho whenever it happens it's good and we just cannot rush it.

In moments like this it can help the price fly again. But do we really want a new FOMO run?
And yeah, as said; even though it was proven to be just a rumor that won't come to reality in the near future, the price has started to move nevertheless.

Don't you think that Amazon possesses a huge bag of Bitcoin already? Jeff Bezos could have easily said to his accountants even years ago to put a billion USD into Bitcoin. It wouldn't even have hurt them at all. I can't imagine that they literally own zero Bitcoin at this point. They could have bought 100,000 BTC like three years ago with what is pocket change for them.

There is no manipulation going on. It's just people are trying to spread FOMO and create a hype nothing else. At least the price didn't tank once Amazon debunked the rumor. This means we are heading towards the right direction. Weak hands already sold their coins, more people buying at the discounted rate and diamond hands are still holding strong. At least the marketing is being a little interesting right now.

Yes Amazon Use Bitcoin In Futher.But Not Now They deployment Own Digital Currency. But Bitcoin Always batter. Potential Bitcoin is the Great Pump for Amazon News.

Also I saw the info on coinmarketcap on the blog and pinned amazon denied that claim. information that brings large companies about they will adapt bitcoin is always happening. first facebook and ebay. and now amazon . Strangely, people still easily believe in hoax news. but I think that hoax news had a good impact on the crypto market but Im not sure this is good ethics or not.

This is not the first time rumors that happened in the market because crypto market has always had fake news that will affect the market. Just like big company apple buying bitcoin but still turns out a fake one.

However, instead of the people to get rid of this but surprisingly, this has made the crypto market even more firm and strong. Fake news are everywhere so people should always be resposible to make DYOR and find the truth.

If Amazon already had bitcoin, we'd already know by now. Since Amazon is a public company(and a company with A LOT of investors), they're required to be fully transparent on what they're doing with the company's finances.

The title is slightly misleading IMO. What Amazon denied is the rumor that they will accept Bitcoin by the end of this year. They never said that Bitcoin will never be accepted by Amazon. Also, in the statement, they once again confirmed that they have an interest in cryptocurrency. More details can be found here:

https://www.aljazeera.com/economy/2021/7/27/amazons-denial-on-accepting-bitcoin-sends-it-tumbling


Now some are interpreting this as a sign that Amazon want to create their own cryptocurrency. But for me at least, that doesn't seems to be the case. Facebook tried this and failed. And I don't think that Amazon will repeat the same mistake.

Facebook failed, but Circle (& Co) seem to have been doing it right. So it can be done, although there are clear differences between what Circle did and what FB wanted to do.

The question is: would such a move be in Amazon's benefit? And imho it's not really (not for now).

maybe this is their goal so that the price of bitcoin becomes expensive and then they can make a profit. I am very disappointed if they really do manipulation just to increase the price and after that they will issue bad news about bitcoin so that the price of bitcoin goes down and when the price of bitcoin drops they will buy bitcoin again.

They wont really be doing things if they do saw that they cant really benefit from it unless if they would really be seeing some considerable things then they might have those changed of minds.

Rumors could really be totally denied and changed and this is why its never been ideal on making your hopes up when its still not yet confirmed by the company itself.

Well that is possible but as of now, --there is no drop on the bitcoin price that has happened, it looks good and fine the market price and there is no price rollback even though the rumor is not true. That was obviously a manipulation to create a massive price increase but fortunately, we saw that the market did not show a bad sign on it. It is really hard to believe in rumors since there is no official announcement we should not celebrate, besides, we don't need them, we don't need a manipulator in the market that could be a threat to bitcoin price movement someday.

Not about manipulation and we know that sometimes, biog news from a big company will really give a big impact on something. The news at that time about Amazon accepting Bitcoin really took high interest for the new investors and also it impacts the price of Bitcoin itself. Moreover, the price of Bitcoin on that day is rising up significantly, breaking the common top resistance at that time.

There has been a clarification from Amazon spokesperson that they don't accept Bitcoin. The news was not true.
https://www.reuters.com/business/retail-consumer/amazon-denies-report-accepting-bitcoin-payment-2021-07-26/

Exactly! We don't need anyone to manipulate the market to make the price of bitcoin skyrocket.
But as I also believe that Amazon is rushing to offer its users to pay in bitcoin and cryptocurrencies. It's pretty obvious that as a high-innovation company to fall behind without the bitcoin revolution would be a serious mistake.

It has officially posted the job position as Digital Currency and Blockchain Product Lead.

Although I am aware of the fact that they have to fulfill reporting requirements, aren't there any conceivable ways around this? What if they found an SPOV or anything like that for the specific purpose of buying cryptocurrencies. Would there be no way for them to somehow disguise cryptocurrency related activities accounting-wise? If they invest in R&D, they also don't have to explicitly name what they are doing of course or otherwise they might have to give away important strategic details. From that angle, could there be a way to hget crypto without the public noticing?

Bitcoin will stand the test. I don't think this is a matchmaking. People are just looking forward to the actions of these big players. Few readers will notice that City AM only quoted an "insider" who said that he apparently made comments via email. Anonymous sources are the biggest scam that the media can use. Journalists can really make up their minds, and no one can hold them accountable because they just claim that they are "protecting my source." This is a joke.
When the rumors were not confirmed, the price of Bitcoin pushed to new heights and I was very surprised in retrospect. News on the market can always control people's emotions.

It's just a rumors and as you can see there's no impact in the market, in fact these issue isn't new and it's been weeks probably when i saw this kind of news around the internet, at first i have doubts market will make a correction but see the growth rate and the performance still steady.. So this is definitely a scam.. Lol  never ever fell on this kind of false information mate..

This matter has a good effect on both Bitcoin and Amazon. However, even if Amazon does not use Bitcoin, it has no effect on Bitcoin. Bitcoin does not rely on these companies to live. Now the market is slowly calming down. This is a good phenomenon. After waiting for a while, I will look at Amazon's plans. If they deny it, it will not have any negative impact on Bitcoin. If Amazon agrees to use Bitcoin, then both will become better together.

Now it is clearly mentioned that every thing that has been shared recently are rumors and nothing to happen? or Amazon says this will not happen this year end but what about next year ? early 2022 or until the halving next?
just like the saying if there is a smoke surely there is a fire.
wrong , there is impact look how much bitcoin climbs and the capitalization after this rumor comes out.

but there might be another reason but for now it is this news that i see who made the market hype back.

Crazy, why would Apple buy bitcoin anyway? The company is so powerful that they can create their own assets and turn the whole market upside down. However, they don't need such steps because that's simply not their agenda.

But anyway, both the news that is Amazon and Apple making bitcoin one of their payment portal had driven market at some point which we can call it as "Negative Marketing". I mean it's now negative since it's fake but it did the job.  :P

Although Bitcoin will not rely on company development, sooner or later Bitcoin will be used by companies. Bitcoin is still unstable. Many companies feel that there is still a risk, and many whales also want to push up the price of Bitcoin to make profits. Maybe many companies make plans because of the value of Bitcoin. If one company takes the lead in using Bitcoin, other companies will follow suit when they see it. We can only wait patiently and wait quietly for the development of Bitcoin.

Yes, but as I said nothing to do with the Amazon news. This is totally something different and is an evidence for Bitcoin that the market has always changed direction when the time has come,,, not because of some big news. The news helps the direction but it does not determine it.

The underlying factor like circulating supply, usage factors,,, all of these are doing their time slowly.

It could be possible that the alleged Amazon news sparked some excitement, but the interesting fact is that even when Amazon denied the rumors to be true, Bitcoin kept its gains and even went up further. I think that is again a sign of strength and resilience. But what would happen if Amazon now confirmed Bitcoin as a means of payment, will it have an impact?

Of course it's unstable and volatile but it didn't stop other companies from adopting bitcoin since they still made a lot of big money out of it despite the prices not being volatile, I think the reason why some companies don't want to get in bitcoin is because they still can't find an opportunity that their interest will benefit the most.

I guess most companies will hold back if bitcoin doesn't protect their interests.

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Amazon should have left the media still speculating over its future with cryptocurrencies, they should have tested the waters to see if they do work in their favor or not.

Did anyone take note of the reaction of the Amazon price reaction on the stock market after they put out the smoke of potential use of bitcoin on its platform.

Knowing the mindsets of those business man, they will take their time understanding the possible benefits that they've got

if ever they start to adopt and embrace this new system, they don't want to have any hassles while using the system. And most

of it, they wanted to make sure that it will favor them and earned out from the adoptions that they going to take.

I think companies are still afraid to adopt bitcoin, because they still can't predict the movement of bitcoin. Digital currencies are high risk, so getting into cryptocurrencies takes time to study carefully and is easy to decide quickly. their decisions determine the future of the company.

Only those naive people would actually believe that Amazon will ever integrate bitcoin in their systems. They clearly don't want anything to do with crypto in the mean time, and the job posting itself doesn't mean that they are working on the integration of crypto on the platform. Amazon is likely just exploring new tech and create something similar for their own platform, and not use any crypto that is already out in the market for quite some time now.

Good thing they shut things down before it makes yet another mess in the market.

it's true as you said buddy, if amazon accepts bitcoin, it can be said to be beneficial for both parties, but even if amazon doesn't want to work with bitcoin, bitcoin will still be fine, because bitcoin doesn't need support from anyone to continue to grow, but on the other hand, other companies that have to get closer to bitcoin, to boost their company to be more widely known..

I don't think it's interesting for us with the many rumors that have been echoed by several companies including amazon, but we are not at all affected by this because we as investors have very often faced situations like this, such as the ban on bitcoin such as what is happening in several countries in the world, and I am very sure that it is only a discourse that is echoed by the amazon company not to adopt bitcoin in their company

We don't care of amazon where it accept bitcoin or not. Bitcoin price reached 60k+ without any rumours and will touch soon 100k$+. Amazon need Bitcoin to devolp their Goods.

About the rumour, yes, it is only a rumour and Amazon has clarified this rumour that they don't.
But about the impact on the market, we actually can see the price of Bitcoin rising significantly on that day.
So, although it is still a rumour at that time, this news can really attract many people and make the Bitcoin market rise up significantly.

^ I thought the rumor is true because until now the BTC price was keep growing up. But good thing admit earlier about their sentiments towards BTC.
Why people attract to BTC when there is a big company invested in too, is they don't have their own research first before using such a gambling site. BTC will always be positioned upward and it will continue until the next new ATH will come. I hope someday this big company will realize how the importance of BTC.