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Author Topic: Why is Amazon.com still resisting the use of BTC for payment?  (Read 8329 times)
iamTom123
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May 12, 2017, 09:21:56 AM
 #221

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

What do you think?

Could have several reasons.The negative image of Bitcoin for instance.Or maybe they are waiting for a scaling solution.
Another possibility is they just could create their own coin or accept one the planned bankcoins.Sooner or later we will know in which direction amazon will go.

I am sure that Amazon is closely watching many Bitcoin developments since this is already getting so popular in many countries. I am also sure that there are now many inquiries from customers if they can use Bitcoin in shopping the site. One big reasons at the moment why Amazon can be reluctant to adopt Bitcoin is its high volatility as it can wreak havoc when one is dealing with retail business.

Who knows...one day we would be waking up and then AmazonCoin is already on the market functioning more like a token and at the same time taking advantage of the cryptocurrency market as anyone can buy AmazonCoin using Bitcoin.
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megynacuna
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May 12, 2017, 10:35:00 AM
 #222

I think they haven't yet because of bitcoins volatility because they'd have to adjust prices every now and then if Bitcoin changes in value to keep them from loosing to or cheating customers. I believe they will one day but Amazon as big as they are I think are implementing the right things before they kick start Bitcoin acceptance.
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May 12, 2017, 05:55:06 PM
Last edit: May 31, 2017, 08:16:58 PM by stripykitteh
 #223

they are not accepting this time because they dont want to risk. bitcoin is not yet official to other country thats why they dont want to use it. they will just wait for the bitcoin to be official in majority. or maybe they want to create their own currency such as loadable wallets something like that.
Amazon is pretty skeptical about Bitcoin since Bitcoin is not really made by a business or a known banking company so there is no insurance if something bad happens.
The people working in Amazon are very smart because they know that the would lose money if the price of Bitcoin went down and the people that purchased items with Bitcoin get their products for a very cheap price and they would have a bunch of Bitcoin left to purchase it again.

 
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btcforall777
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May 12, 2017, 06:34:45 PM
 #224

Considering that Jeff Bezos is brilliant,  Im sure he has some crypto surprise of some sort that he will spring us. It is a natural vertical integration for them. Think overstock.com
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May 12, 2017, 06:46:01 PM
 #225

My take on this is that bitcoin, and crypto in general, doesn't suit their way of doing business.  After all, what extra business would they acquire, and what hassle would it bring them ?  Amazon has its own "money": amazon gift cards.  *these* you can buy with bitcoin if you want to. 
The whole model of Amazon's business is to have a very secure financial treatment, with the full legal machinery behind it.  You are almost never scammed by amazon.  This is why the credit card model with the possibility of reversible payments and legal framing is extremely important for them.  Anarchist obscure irreversible payment methods have not really a place in their business plan.  They are the opposite of dark markets, for which crypto is the ideal payment method.
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May 12, 2017, 07:17:52 PM
 #226

My take on this is that bitcoin, and crypto in general, doesn't suit their way of doing business.  After all, what extra business would they acquire, and what hassle would it bring them ?  Amazon has its own "money": amazon gift cards.  *these* you can buy with bitcoin if you want to. 
The whole model of Amazon's business is to have a very secure financial treatment, with the full legal machinery behind it.  You are almost never scammed by amazon.  This is why the credit card model with the possibility of reversible payments and legal framing is extremely important for them.  Anarchist obscure irreversible payment methods have not really a place in their business plan.  They are the opposite of dark markets, for which crypto is the ideal payment method.


You are correct up to the point that it makes financial sense to use them. If enough customers use bitcoin, Amazon will take it.
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May 12, 2017, 07:38:07 PM
 #227

Considering that Jeff Bezos is brilliant,  Im sure he has some crypto surprise of some sort that he will spring us. It is a natural vertical integration for them. Think overstock.com

Well anything can happen and we are free to speculate, maybe Amazoncoin is in the pipeline.... who knows??
btcforall777
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May 12, 2017, 10:35:45 PM
 #228

Considering that Jeff Bezos is brilliant,  Im sure he has some crypto surprise of some sort that he will spring us. It is a natural vertical integration for them. Think overstock.com

Well anything can happen and we are free to speculate, maybe Amazoncoin is in the pipeline.... who knows??

Thats what i have been thinking! To think that he has not thought about it would be ignorance. Something is going to happen with Amazon and crypto. He has so much money he can create and market something better than Etherium if he really wanted to.
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May 12, 2017, 11:09:06 PM
 #229

Considering that Jeff Bezos is brilliant,  Im sure he has some crypto surprise of some sort that he will spring us. It is a natural vertical integration for them. Think overstock.com

Well anything can happen and we are free to speculate, maybe Amazoncoin is in the pipeline.... who knows??

We would wake up to a complety different world. So anything can happen!
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May 14, 2017, 05:18:31 PM
 #230

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

What do you think?

Could have several reasons.The negative image of Bitcoin for instance.Or maybe they are waiting for a scaling solution.
Another possibility is they just could create their own coin or accept one the planned bankcoins.Sooner or later we will know in which direction amazon will go.

I am sure that Amazon is closely watching many Bitcoin developments since this is already getting so popular in many countries. I am also sure that there are now many inquiries from customers if they can use Bitcoin in shopping the site. One big reasons at the moment why Amazon can be reluctant to adopt Bitcoin is its high volatility as it can wreak havoc when one is dealing with retail business.

Who knows...one day we would be waking up and then AmazonCoin is already on the market functioning more like a token and at the same time taking advantage of the cryptocurrency market as anyone can buy AmazonCoin using Bitcoin.
Wow this is superb you have actually worked as an advisor for the Amazon, I am sure this will be a very valuable post for the Amazon if they really are considering the crypto.

But as far as I have experienced the Amazon accepts the BTC as a medium of exchange for the items available at their online stores. Yeah they do inquire a lot because they have to according to their need.
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May 14, 2017, 08:40:57 PM
 #231

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

What do you think?


I think there are many reasons why amazon still resisting on accepting BTC as a payment method because I think in my opinion the price of the bitcoin is not constant like money. If they do accept bitcoin it would be great for us the buyers but for them there are still many flows that need to be checked until they do accept it.
btcforall777
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May 15, 2017, 10:31:39 PM
 #232

Imagine the price spike on an announcement that they will accept bitcoins. Nice to think about.
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