Why is Amazon.com still resisting the use of BTC for payment?

[SmartIphone]

Is it a business reason? Or perhaps the complexity of bitcoin accounting creating potential issues?

What do you think?

Bitcoin price isn't stable and this may be one of the reason because if the price was $650 and suddenly within few hours drops to 500 or lower (which already happened this week) then where is the profit for the amazon?
We are talking for millions of dollars which amazon could risk but could also profit if the bitcoin price increases.

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[entrepmind23]

Amazon is still resisting to use BTC as payment because it will be a big loss for them if they accept it and then its value plunge and then they have to pay in fiat. In order for them to accept BTC they should also pay BTC for the services so that changes on its equivalent value in fiat will not affect them.

[Pursuer]

if amazon.com really use bitcoin, then I think bitcoin prices will increase. Amazon is one of the big companies, and if that happens then the development of bitcoin in the world can be very fast.

You nailed it mate. It would be a boom in the bitcoin industry. I just remembered when steam announced that they will be accepting bitcoin people at that time was very excited then when steam launches it every Gamer's that uses bitcoins of course celebrated.

steam has already launched the project for accepting bitcoin a long time ago and I have tried it myself! it is not for the future to come.
and also even if Amazon accepts bitcoin someday the effect of it will be small at the moment because it will be hype effect because the real effect (as with steam) will take time for new people to notice bitcoin then start using it and then liking it and create that massive demand that pushes the price to the moon. it is a time consuming process.

[Frodomaga]

They might be trying to create their own payment system which will rival bitcoin.
They are a corporate power house and want to control every aspect of their site.
Refusing to accept bitcoin as a form of payment is just buying their time for their own system to take effect soon.

[Betwrong]

Is it a business reason? Or perhaps the complexity of bitcoin accounting creating potential issues?

What do you think?

Bitcoin price isn't stable and this may be one of the reason because if the price was $650 and suddenly within few hours drops to 500 or lower (which already happened this week) then where is the profit for the amazon?
We are talking for millions of dollars which amazon could risk but could also profit if the bitcoin price increases.

Exactly! Partially I understand amazon in that that they do not want to risk but as we all know only those who take risks win big in the end. But yeah, you might lose in the end too, so ... It's up to them. But I think those who will accept risks associated with Bitcoin will be in profit in the long run.

[calkob]

I reackon it is abit off both, however i dont see amazon turning their back on bitcoin if it stood to make them sheds load of money.  They are bound to have looked at it,

[barbara44]

I think it’s because the price of bitcoin keep fluctuating unstably and unpredictably, like when it stabilized at some point and then the next day it could drop like hundreds of dollars and after that it could rise significantly. Amazon can get a huge amount of profit from it or can lose millions of dollars because of a small drop.

[Hellacopter]

May be Amazon and the other great marketplaces still don't believe in Bitcoin and think it will fail sooner or later, and that's of course wrong, Bitcoin is stable nowadays and it will be supported when it's community reach the good level of growing

[harizen]

I think it’s because the price of bitcoin keep fluctuating unstably and unpredictably, like when it stabilized at some point and then the next day it could drop like hundreds of dollars and after that it could rise significantly. Amazon can get a huge amount of profit from it or can lose millions of dollars because of a small drop.

Amazons products deal with fiat transaction so an active price fluctuation in bitcoin must considered as main factor if they will accept bitcoin.

But you know, there are already some numbers of third party exchangers that can be used if a person wants to use their bitcoin to purchase in Amazon.

[Yakamoto]

if amazon.com really use bitcoin, then I think bitcoin prices will increase. Amazon is one of the big companies, and if that happens then the development of bitcoin in the world can be very fast.

You nailed it mate. It would be a boom in the bitcoin industry. I just remembered when steam announced that they will be accepting bitcoin people at that time was very excited then when steam launches it every Gamer's that uses bitcoins of course celebrated.

There would be a considerable increase with the amount of Bitcoin being passed around, but I don't think that you are properly estimating what would actually change. While it would be a big thing and there would be a considerable increase of things happening within the market, not all that many businesses would just start because Amazon is doing it. Steam was hitting a key market because a fair amount of people who use Bitcoin play video games, but not everyone would rush to buy things from Amazon in the same way.

[CrimBit]

Is it a business reason? Or perhaps the complexity of bitcoin accounting creating potential issues?

What do you think?

i think amazon want make his official payment aplication to beat bitcoin, in fact amazon not interesting add bitcoin because bitcoin is decentralization money, this is the problem for merchands who want to protect his customer.

[MingLee]

Is it a business reason? Or perhaps the complexity of bitcoin accounting creating potential issues?

What do you think?

i think amazon want make his official payment aplication to beat bitcoin, in fact amazon not interesting add bitcoin because bitcoin is decentralization money, this is the problem for merchands who want to protect his customer.

It would be more like protect the customer from the merchant, if things started being traded in Bitcoin chances are there would be a number of fraud cases that would spring up due to the inability to charge-back through Bitcoin. While there is a lot of trust involved and there often aren't charge-backs, that's because a legitimate product is sold. Without the ability to charge back, there might be more people who won't sell everything they say the product is.

[bitdumper]

maybe they found it risky due to its price fluctuation.they can get loss if price suddenly dropped so they are using a faint currency as because they have a long stable value

[Capradina]

maybe they found it risky due to its price fluctuation.they can get loss if price suddenly dropped so they are using a faint currency as because they have a long stable value

Yeah that is true, but it is just one aspect of their mind, in another aspect they will have huge advantages in price bitcoin increase. This is quite a long time and will not be possible for a company wait until the price bitcoin ride. But this thing I'm sure amazon would benefit if they could learn about bitcoin

[SmartIphone]

Is it a business reason? Or perhaps the complexity of bitcoin accounting creating potential issues?

What do you think?

Bitcoin price isn't stable and this may be one of the reason because if the price was $650 and suddenly within few hours drops to 500 or lower (which already happened this week) then where is the profit for the amazon?
We are talking for millions of dollars which amazon could risk but could also profit if the bitcoin price increases.

Exactly! Partially I understand amazon in that that they do not want to risk but as we all know only those who take risks win big in the end. But yeah, you might lose in the end too, so ... It's up to them. But I think those who will accept risks associated with Bitcoin will be in profit in the long run.

Another reason for this is that amazon should hire new people that have knowledge about cryptocurrencies and bitcoin, how the blockchain works, how to troubleshoot with their clients because people will get sucks making payments through bitcoin.

[GreenBits]

One really apparent and really obvious reason jumps out at me: is bitcoin fast enough to handle the traffic an adoption by Amazon would bring? We are struggling to scale as we speak; having the largest online marketplace pouring transactions into the mix would most likely slow everything down to a crawl.

[chixka000]

if amazon.com really use bitcoin, then I think bitcoin prices will increase. Amazon is one of the big companies, and if that happens then the development of bitcoin in the world can be very fast.

You nailed it mate. It would be a boom in the bitcoin industry. I just remembered when steam announced that they will be accepting bitcoin people at that time was very excited then when steam launches it every Gamer's that uses bitcoins of course celebrated.

though we dont know how much people use bitcoin as a payment method on steam, it might be useless because as far as i know most of the buyers use fiat

That would make sense. It would only be a success for bitcoin IF and only if people would rather use bitcoins than fiat from doing transactions in amazon. But most of the business experts view this as a boost to bitcoin, but in progress it might be a milestone for Amazon too, who knows? Being a bitcoiner and strong believer of sutures of bitcoins, I too wish Amazon to adopt bitcoins.

No this is rarely happens people would still really use fiat for purchasing some items im amazon. But this is not a big deal for bitcoin industry because if the question would be where did that fiat come from and if stats would say that 35~40% was in bitcoin then it would still be a good news

[TippingPoint]

The major trend is for Bitcoin to become more widely used by businesses and people.  The major trend is for Bitcoin to become less volatile.  The giants like Amazon are sometimes reluctant to take a business risk, and they probably know that Bitcoin users already have conversion options into fiat currency.  If there is a significant incentive for them to take a risk (such as a taxation change or adoption by a major competitor), they would be more likely to accept Bitcoin directly.  

[romero121]

As amazon is one among the large scale business unit, it takes time to implement over the entire stores around world. Also now they won't get a profit through bitcoin purpose in the short.

[chixka000]

I guess we dont have to worry too much about this one anymore because as they have said paypal is now trying to integrate bitcoin on their services. Coinbase would be the official partner if i am not mistaken