Bitcoin Forum

If Amazon starts accepting bitcoin, that will trigger a massive rally.  You can buy everything on Amazon.  I email Jeff Bezos twice a week and I suggest all of you do too.

i have done it several months ago ;D

I just started using purse.io to purchase stuff from Amazon.  I just tell my wife, dont buy anything from there anymore, just put it on your wish list.  Then I upload it to purse.io and you can get good discounts.  I am now eligible for a 15% discount.  It works pretty well I would recommend that to all of you as well.

Then I rebuy the bitcoins spent immediately of course!

Yes. The rally will be massive.

I doubt it. Many retailers accept Bitcoin right now and the value is still dropping.

IF anything it will cause BTC to crash because everybody will sell BTC to buy goods on AMAZON

For sure it will cause a surge in price, but the point is, will it last.

Currently, each time there is a good news peak it only lasts for a very short time.

At first they are happy, and then for whatever reason people seem to do a step back.

That announcement will dramatically increase the use case for Bitcoin.  I think that will pop and then keep popping!!!!!

because no big companies actually accept bitcoin, they are all accepting USD from bitpay/coinbase
it's just this simple

It would be huge for Amazon too.  Bitcoin is exactly what Amazon needs to essentially take over retail.  I cant believe they haven't jumped on it yet.

Such an announcement should provide a good opportunity to short the top of the DCB.

It won't happen until the bottom is in, then you all can attribute the whole next bull market to amazon news because it's not natural market forces at work here  ::)

Why would Bitcoin change their position in retail?
Why is Bitcoin exactly what they need to do so?

I can see that Amazon accepting Bitcoin is a step forward for Bitcoin, but Bitcoin changes nothing for Amazon.

A lot of people still are uncomfortable using their credit cards for online shopping as they should be!!!!  Bitcoin provides the secure transaction that online retail has needed for years.

The ONLY bullish news I am looking for is the full release of OpenBazaar, quoting:

OpenBazaar is a new way to trade online. By running a program on your computer, you can connect directly to other users in the OpenBazaar network and trade with them.
This network isn't controlled by a company, it's a decentralized network that isn't run by any organization at all.
This means there are no mandatory fees to pay, and that your trade is censorship-resistant.
OpenBazaar uses Bitcoin, a digital currency that is also cheap to use, decentralized, and censorship-resistant.
This project is open source, which means the code is publicly available, can be reviewed, and anyone can join the project and suggest changes.
We are in beta right now, testing and improving the network continually. We hope to have a full release early 2015.

I am excited about Open Bazaar too, but will they have the inventory of items that Amazon has?  And Amazon is what mainstream people use, they will probably not trust OPen Bazaar.

Bitcoin is not for mainstream people, but for people who want to evade laws and regulations. It can be used with mainstream online merchants, but this is just a gimmick.

If I was a criminal, I would prefer to deal in US dollars personally.  There is NO TRAIL, if someone gives you cash.  Ask Ross Ulbricht if Bitcoin is anonymous.

Exactly... I mean what would be the actual pop??? Considering all the people trying to get out of Bitcoin It might be what $30-$40 gain MAX
Great shorting opportunity just like today!!!  ;)

Hope springs eternal in Bitcoiner's breast
He never is, but always to be blessed<<==distilled poesy :)

Open Bazaar will have no inventory.  It's a decentralized platform for users to connect p2p and trade with each other.  It's basically a decentralized ebay.  Just as individual users on ebay maintain their own inventory and distribution networks, users on open bazaar will do the same.  The platform is just used for buyers and sellers to connect.

If someone gives you cash, the same fellow may give you some lead. SR and clones made such trades much safer.
And DPR wasn't caught because he used bitcoin, but because he was sloppy. There may come a future when feds track bitcoin to catch dealers, but not yet.

Oh please

who would have thought, bitcoin acts as money more and more each day.  screw speculation.

Just because they use Bitpay, doesn't mean they are converting 100% of their bitcoins into USD. Last time I looked, Bitpay gives you the option to convert any fraction, from 0% to 100% into fiat.   I think Overstock is on record for saying they are keeping 10% as bitcoin.

How do you know that other companies aren't doing the same?

^
Overstock CEO never claimed to keep 10% of sales, see here:  https://bitcointalk.org/index.php?topic=888361.msg9801761#msg9801761
Regarding your not knowing:  You also don't know if other companies aren't investing their profits in BTCeanie BTCabies :-\

'BitPay employee here. Around 50% of our merchants actually accept some or all of their settlement in Bitcoin.'

https://news.ycombinator.com/item?id=8733510

I sent him a list of stuff I bought at Overstock and other places. They were all items he could have profited from if he had accepted BTC. In fact I have not used my Amazon account for almost a year. I would use it if they had something I could not find for bitcoin, but that is becoming very rare now.

The people on this forum have the strangest logic. I mean, you honestly think people who have the means to use a credit card, but don't because they're too paranoid, are going to provide their bank account to a third party such as coinbase, or trust someone on localbitcoins? (and that's just to buy them).

And then -- this same person who is scared of credit cards, even though the banks always reimburse cardholders in cases of fraud -- is willing to store all their wealth on their PC or a third party site, where it can be lost to hardware failures or theft or natural disaster?  ::) ::) ::)

Maybe falllling was right about you guys lol

Waiting for Amazon or other huge retailers to accept bitcoin is so 2013. Wake up people... nobody cares anymore about merchant adoption.

Granted, if Amazon were to accept bitcoin, and actually hold bitcoin instead of using third party processors like coinbase or bitpay to offload instantly to USD... then it would be a big deal. But that won't happen. No legitimate business is going to take that risk.

People won't be excited about bitcoin again until the community can come up with a real world usage case for it. What we need is for someone like PokerStars to accept it. See, that would actually make sense, because it would allow American players to evade government banking controls and play online poker again.

What you need to get through your heads is: nobody is going to buy bitcoins to use them on Amazon or Pets.com or whatever! They already have credit cards and they're much easier and beneficial to use!

true story

Yeah, everyone posting here is atleast a tier 5 don of some international drug or human trafficking cartell.

Back to reality dont you think btc would have easily broken the 10.000$ if that would be the case   ::)

^
Who said anything about cartels?  This forum's mostly the liber lunatic fringe--poor, paranoid, ignorant, daddy issues with the government.

Microsoft rally was worth a pop from 340 to 360.  Only 6% pop.

Amazon rally might be worth a 15% pop, ie. 340 to 390.

I dunno riiiising, It the only thing I care about and measure. And I don't care if they sell them right away, I would not expect a sensible business to expose themselves to naked volatility. They should be processing the payment with BTC but not holding them. If they did and I was a stock holder I would complain.

I emailed Amazon a couple days ago and got a semi-canned response:


Hello,

I understand your concern regarding Bitcoin as payment method.

We don't accept Bitcoin as a payment method on our website at this time.

We accept credit cards, debit cards, payment from U.S. checking accounts, Amazon.com Gift Cards, Amazon Payments Stored Balance, and the Amazon.com Store Card. Here are the credit cards we accept:

-- American Express
-- Diner's Club (U.S. billing addresses only)
-- Discover
-- MasterCard
-- Visa, Visa Electron, and Visa Check Cards
-- Eurocard
-- JCB
-- NYCE
-- STAR
-- China UnionPay (credit card only)

You can learn more about these payment methods on our Help pages:

http://www.amazon.com/gp/help/customer/display.html/?nodeId=513058

We'll consider your feedback to implement in future plans.

We look forward to seeing you again soon.

Why do you think we hit $1,100+ & are still dropping over 90%!! Cartels comes in all forms, all different colors, shapes w/e Don't be so closed minded!
http://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/ (http://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/)

Amazon -- who accepts payments from NYCE, STAR, and China UnionPay (whatever the hell they are) -- has considered bitcoin, and still doesn't even see it as worth the time or effort to implement. I think that tells you everything you need to know about the scalability and demand for it.

The amount of business the BTC economy will bring to Amazon would be a game changer.

Looks like you just may get your wiiiiish.

only bad news, US players won't be able to play there legally, no matter fiat or bitcoin until US legislature turns around on online gambling or at least for online poker.

Not true. There is no law preventing US citizens from playing online poker, aside from a few states and districts which specifically ban it. The law is against banks wiring money to the sites, so if you can still find a way to fund your account, you can play. There are thousands of US players who are online via the Merge network based out of Australia, etc.

Granted, it's a bit of a legal gray area, but no US player has ever been prosecuted for playing online poker.

How much do you have to buy, to get 15% discount?
And do you get that discount for all items? I guess, you should start your own amazon with those discounts then :)

I am actually now eligible for a 25% discount.  Purse works awesome.  You are eligible for more discounts by the amount of transactions you complete.  Here is the schedule copied from Purse.

Max starting Discount rate: 8%
Max Discount after 1 completed transaction: 15%
Max Discount after 3 completed transactions: 25%
Max Discount after 5 completed transactions: 40%
Max Discount after 8 completed transactions: 50%

It's easy, try it.

Bitcoin gambling sites seem to be playing extra safe and blocking access to US ip addresses.
I don't think this is really necessary.

Their fees are ridiculous. At 50% discount they charge 15% as their "fee"... seriously... how greedy can they get. Youd be better off using offering a 35% discount on some other competing site to get more sales volume and the same profit...

I still think it's hilarious that people here think that Amazon accepting bitcoin today would create a rally in the price.  The volume Amazon has is so huge that I'm sure that if any of the CSRs forward these messages to Jeff Bezos, he's probably laughing about it.

The only possible way that Amazon accepting bitcoin wouldn't cause the price of bitcoin to seriously plunge would be if this adoption happens after a majority of Amazon's suppliers also accept bitcoin, and don't immediately convert to fiat.  It's going to be a long time, if ever, before that happens.

I don't know about you guys but I'm not expecting to see amazon pick up Bitcoin anytime soon...I have a feeling they could be one of the last to give in (only if they need to stay relevant)

I am sure they are aware that there are lots of people looking to buy amazon items with bitcoins. So in a way, it is better for them to actually start accepting.
I still wonder, what stops them from doing so.

The amount of bitcoin fans who are pestering Amazon is a drop in the bucket compared to the amount of people who either a) aren't even aware of bitcoin yet or b) are aware of bitcoin, don't care about it, or are like me and use bitcoin but are happy to buy from Amazon with my credit card.

The exactly same argument could be levelled at extremely large companies such as Dell or Microsoft. Given there are probably less than a million global users of BTC that they have adopted the payment system at this stage is surprising in itself. Bitcoin has a poor public reputation due to MSM coverage of the dark net, crime and Mt Gox etc so accepting it is not a decision to be taken lightly from a public relations point of view for corporations with a reputation to maintain.

Dell and Microsoft will have done the maths and realised they are likely to generate a completely inconsequential volume of trade by choosing to accept bitcoin now.

Why do you think these companies have adopted bitcoin? Why exactly would Amazon not do exactly the same (other than because it has 'Amazon coin')?

Then wouldn't Amazon having a Bitcoin icon on their payment options list inform more people that there was this thing called Bitcoin?

This is partly what we need, right? We need more people to at least be aware of Bitcoin. Even if 95% of people see the logo and shrug it off, the other 5% that show interest (possibly young, tech fashion conscious people) could amount to a lot of new Bitcoiners.

Exactly. What will drive the next wave of adoption is price highs in the news again. If Stolfi is correct and there are only 650,000 addresses with 0.1 btc or greater then it won't take many newcomers to lift us.

When AMC Pacer came out, it succeeded beyond AMC's rosiest projections.  Couldn't build them fast enough.  Next year--meh.  Year after that--disaster.  AMC was an odd car--people either loved it or hated it, nothing in between.  The people who loved it absolutely had to have it.  And they did--got it the first year.  The stragglers mopped up the demand the following year.  By third year, everyone who wanted one had one, sales went to shit.  Along with shit press & slews of problems which didn't surface during initial excitement :(

The point being it's irrelevant how many ad campaigns AMC ran--the niche was already filled.  Bitcoin's niche is filled too.  "Young, tech fashion conscious people" you want to reach knew about Bitcoin years ago.  They are, almost by definition, the first to be aware of tech innovations.
What you're tapping now, five years post the time when Bitcoin tech was new, is the opposite of that demographic.  

Yes, what a relevant comparison.

You're exactly right in comparing a global payment system to a model of automobile.

Got any stories about briefly fashionable toasters or grilling machines?

Two problems I can see offhand:

1. You don't know what an analogy is.
2. exaggerated importance given by Bitcoiners to to their coin.

Try to understand that Bitcoin is less relevant & likely has a smaller market cap than, say, the George Foreman Grill that you so sarcastically dismissed :-\

http://www.equalreviewer.com/wp-content/uploads/2012/06/George-Foreman.jpg

P.S:  This is the 21st century.  Technology that was new five years ago is called old technology.  

Don't underestimate my knowledge of the basic English language please.

You're right about the sarcasm, though. It was intended, indeed relevant, to your ridiculous comparison of a consumer product launched within a market already saturated with similar products, to that of a relatively new form technology that currently dominates any of its competitors.

I'm not saying that Bitcoin will always be the number one crypto but I'll speculate that it'll be the first decentralised crypto used by Amazon. That's at least pertinent to this thread.

But a drop is also a lot. The number of people who would be willing to order things, once they start accepting bitcoins is a lot.
Its true that it might be hard to estimate but there is no harm for them to actually experiment it.

Bitcoin is current technology...not was technology.

It started 5 years ago. Doesn't mean it is old especially if it is refined and updated regularly by developers.

lol

It's alright. NotLambchop talks of technology being out of date once it's over five years old, just after ranting about a motor vehicle produced in 1975.

I'm guessing that the vehicle in question failed because it was about 70 years out of date.

I'm not trying to evaluate, nor do I care about, your mad English skillz.  You simply don't know what an analogy is.  Your typings left me with no other plausible alternative.

And don't start again with "new."  It was new 5 years ago, it's old now.  Bitcoin is too slow for real-time transactions, ruinously expensive (currently way over 10% of its market cap) to maintain, with disastrously conceived block reward scheme, lacking the anonymity essential to its primary demographic, and, after 5 years of development, just starting to kludge its way into becoming crypto 2.0 with sidechains.

@smoothie:  The technology can't be called "new" after 5 years.  Sure, it is currently used & therefore "current."
I used the word "old" in the sense of "not new" rather than "obsolete" or "defunct"--those come later.

You've logged into the wrong socko account, "FatherBob".

You cursed brat!  Who would have thought a good little girl like you could destroy my beautiful wickedness?

Alibaba, Amazon, ebay, Apple, etc would be big.

I already spotted fatherbob was a trollchop alt and ignored him yesterday.

I suppose trollchop knows his account is near a ban threshold!

Yea....... A big drop! LMFAO! Imagine when your beloved bitcoin drops down in price all year... Oh wait, that's already happening!

Re: Imagine the pop when Amazon finally is replaced by a DAC with bitcoin as its reserve currency....

Alt accounts are approved by this forum, it's the Bitcoin way.  Everyone who's anyone here has one. 
You must have purchased your senior account--you sound new.

What's your point? The immediate price isn't as important in these situation. The effect of adoption in the long run my major corporations will increase the demand and use for a limited supply object. I hope they pay you well to keep spreading sh1t all over this forum. Someone who uses so much energy to talk down Bitcoin either has absolutely no life (I'm sorry if you don't), or deep down inside believe in Bitcoin, but just want to take advantage of a market correction from a spike in price and try to get people to keep selling, so you can short. You will get burned one day.

^Impossible for me to get burned since my initial investment is already withdrawn & I keep making ROI everyweek!
You idiots can keep buying! This ensures I can continue to safely cash out my investment!!! Thanks!!!

You idiots are falling for the same things that make Michael Jordan shoes expensive... or rather lets go with the beanie baby example
It's sad you guys fall for the same scam your entire life!!! When will you learn?!

The strangest things happen with the Bitcoin market. The phenomenon is that with adoption does not come increases in price and if there is an increase in price it is often shortlived.

I'd like to see a youtube tip integration with or like changetip for bitcoin as much as amazon.  Works so much better to micro tip people versus thumbs up, perhaps youtube could make a thumbs up to = a tip option.

Do you mean something like changetip :P.

https://www.changetip.com/how-to-send-tips/ lists youtube as a supported site.

Dude believe me when I say Microsoft has been one of our biggest aliest yet. Ive noticed a lot of friends noticing bitcoin today. Cant wait when amazon jumps in.

Please, there are two reasons to own Bitcoin

1 To spend

2 To invest in looking for growth.

So if every merchant accpeted Bitcoin tomorrow it would have zero affect on 'investment' bitcoin.

why would anyone convert their FIAT into BTC to spend... They wouldnt at present.

So only people receiving BTC will spend it.. This is exponential but a slow process HOWEVER its not all doom and gloom because it doesnt take much activity for the price to rise...

When this hapens the "Investors" dump their FIAT in looking for High growth and it is THIS action which will suddenly elevate the price...

Most on here are either investors or short term traders.. Very few are converting their FIAT into BTC and then spending it!!!

The reason retailers like Bitcoin is because they can avoid fraud. Bitcoin has an advantage vs credit card in that there cannot be a chargeback.

Merchants benefit quite a bit from this and will prefer to receive funds in Bitcoin which they dump immediately to FIAT anyways. We can expect various other retailers to start accepting Bitcoin.

No i know changetip has youtube capability but without the authenticity of coming from the host site most people are dubious about clicking the tip link.  Maybe this will change as changetip gets more recognized but even bitcoin itself is still viewed by a certain % of main streamers who know about it as a little dodgy.