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Author Topic: Can Amazon Integrate Bitcoin?  (Read 2894 times)
iamTom123
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November 02, 2017, 03:10:33 PM
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Amazon is the largest e-commerce marketplace globally, and within a span of few years, it has quadrupled its market cap to $532 billion. It processes an unprecedented amount of orders and hence, the integration of payment technology or digital currency would require a prudent testing process and cautious implementation.

At this point, the demand for bitcoin is evidently increasing at an exponential rate, as the price of bitcoin recently surpassed the $7,000 mark for the first time in history. But, the scalability issues of bitcoin cannot be dismissed, since the size of the bitcoin mempool has increased back up to 50 million and the block size has remained above 1.04 MB in the past few days.

Currently, some of the most widely utilized bitcoin wallet platforms such as Blockchain and Coinbase are recommending transaction fees above $1. With SegWit-enabled wallets, the fees would likely be below $0.7, since as hardware wallet manufacturer Ledger stated, SegWit provides at least 35 percent reduction in transaction fees.

But, Amazon cannot expect general consumers or beginner bitcoin users to use SegWit-enabled wallet and enjoy lower fees, and in the short-term, the company may receive complaints in regards to high fees.


Read more here...


The recent buzz on the possibility that soon Amazon can be adopting Bitcoin as one of their medium of exchange or transactions is sending excitement all over. This can be a holy grail we are all waiting for. However, there are those who seriously look into the matter and concluded that there are still some big hurdles that have to be ironed out before Amazon would really start working for this dreamed adoption.

I am sure that all of us here are already familiar with that one big hindrance and we are also complaining about this since time immemorial. We keep on hoping that soon this thing can be given the right solution as paying a high transfer rate is actually not what Bitcoin is made for. Maybe Amazon is really just waiting for the right time to come and take Bitcoin but for now they must have concluded to temporary shelve the whole idea for reasons we already know.




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November 02, 2017, 03:17:19 PM
 #2

As long there is a way to apply, the regulation is fixed, not too much trouble from trump,

 im sure they will use it.
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November 02, 2017, 03:35:31 PM
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Well amazon is placing itself on the market as an innovative company. They already invested huge money to drones and they were going to take part in Saudi Arabia desert megacity cunstruction. I think that in a couple years that will seem strange if they won't be accepting cryptocurrencies while performing such policy. But we shouldn't underestimate the power of US esablishement and central banks, they can always make some troubles.
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November 02, 2017, 03:39:38 PM
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For the moment I don't think they are interested to implement bitcoin as payment.
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November 02, 2017, 03:44:29 PM
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Of course it can be implemented and there is a rumor going on its done. Its about time some online takes notice of the precious block-chain Tech King
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November 02, 2017, 04:07:02 PM
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Amazon is the largest e-commerce marketplace globally, and within a span of few years, it has quadrupled its market cap to $532 billion. It processes an unprecedented amount of orders and hence, the integration of payment technology or digital currency would require a prudent testing process and cautious implementation.

At this point, the demand for bitcoin is evidently increasing at an exponential rate, as the price of bitcoin recently surpassed the $7,000 mark for the first time in history. But, the scalability issues of bitcoin cannot be dismissed, since the size of the bitcoin mempool has increased back up to 50 million and the block size has remained above 1.04 MB in the past few days.

Currently, some of the most widely utilized bitcoin wallet platforms such as Blockchain and Coinbase are recommending transaction fees above $1. With SegWit-enabled wallets, the fees would likely be below $0.7, since as hardware wallet manufacturer Ledger stated, SegWit provides at least 35 percent reduction in transaction fees.

But, Amazon cannot expect general consumers or beginner bitcoin users to use SegWit-enabled wallet and enjoy lower fees, and in the short-term, the company may receive complaints in regards to high fees.


Read more here...


The recent buzz on the possibility that soon Amazon can be adopting Bitcoin as one of their medium of exchange or transactions is sending excitement all over. This can be a holy grail we are all waiting for. However, there are those who seriously look into the matter and concluded that there are still some big hurdles that have to be ironed out before Amazon would really start working for this dreamed adoption.

I am sure that all of us here are already familiar with that one big hindrance and we are also complaining about this since time immemorial. We keep on hoping that soon this thing can be given the right solution as paying a high transfer rate is actually not what Bitcoin is made for. Maybe Amazon is really just waiting for the right time to come and take Bitcoin but for now they must have concluded to temporary shelve the whole idea for reasons we already know.







They actually ended up purchasing a couple of crytpo domains too. It seems like amazon is very interested in adopting bitcoin as a payment system. I think that it is definitely possible that they will; it allows Amazon to gain some investment into bitcoin and it will raise the bitcoin price because of the ability to use it as a true currency on many different websites. Amazon is almost 100% looking into getting bitcoin as a payment asap.

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November 02, 2017, 04:34:06 PM
 #7

There was a rumour that amazon is going to start using bitcoin and provide bitcoins for sale also. If this thing happens then the market value of bitcoin will increase unconditionally.

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November 02, 2017, 04:35:08 PM
 #8

I'm surprised that they have not done so yet.

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November 02, 2017, 05:40:26 PM
 #9


Since paypal is basically ebay owned and not accepted at amazon it does make sense they might incorporate a crypto as a way to attack paypal. Maybe they will launch amazon coin we will see.

 
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November 02, 2017, 05:57:10 PM
 #10

i do not think it will happen for now because of the volatility.
amazon is a giant and have a millions costumer,just imagine it if their costumer using it(Bitcoin) and the price is down.
what will happen ? mass complain will happen in the future.
at least for now they will not integrate it until it's a bit stable or until it find it place.
other than that the fees itself making it look so bad in costumer opinion and the seller themself,
they need to send a 'lot' of money in order to get one transaction,what will happen if they need to make at least 100 transaction everyday?
but for future it has a chance and has a lot of room to grow,
just keep holding it and we will be rewarded handsomely in the future.


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Icoalert00
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November 02, 2017, 05:58:46 PM
 #11

well there is a chance because we all know that the bitcoin currency today is increasing and increasing rapidly right meaning to say there is no impossible for this coin because all of the impossible is done right now. amazon is not that strict about payments there is a chance.

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November 02, 2017, 06:13:11 PM
 #12

There was a rumour that amazon is going to start using bitcoin and provide bitcoins for sale also. If this thing happens then the market value of bitcoin will increase unconditionally.
i have been hearing about this before that Amazon will announce next step regarding this at the end of october but today is november and i didn't see there is a news that Amazon officially adopt bitcoin even some of people says in the near future Amazon probably will not adopt bitcoin and after seeing this fact i think the latest news is fake but if someday Amazon really realize it i think that would be good innovation
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November 02, 2017, 06:18:15 PM
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Money talks and Amazon wants in on the action. Considering how huge Amazon's customer base is, I'm sure adoption of bitcoin could skyrocket. Not only are existing btc users be able to pay for their orders in btc, all those people who have been living under a rock would have no excuse not knowing what bitcoin is.
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November 02, 2017, 06:34:39 PM
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If Amazon wants to they will.  I do see the accepting BTC, but not until late 2018.
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November 02, 2017, 06:41:15 PM
 #15

I'm surprised that they have not done so yet.

They supposedly are doing it, but there has to be some tight assed guy in their board who's slowing down the process.

It can be done, that's obvious. If so many online stores have done it, some over 3 years ago, it's not that hard.
Will they do it is another question. I think they will, it's inevitable.
The last question is when. IMO soon, if nothing bad happens with the currency itself.
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November 02, 2017, 06:55:43 PM
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Well amazon is placing itself on the market as an innovative company. They already invested huge money to drones and they were going to take part in Saudi Arabia desert megacity cunstruction. I think that in a couple years that will seem strange if they won't be accepting cryptocurrencies while performing such policy. But we shouldn't underestimate the power of US esablishement and central banks, they can always make some troubles.
I do not think we are going to see bitcoin adopted soon by Amazon, I would love for that to happen since I will have access to all the universe of products that amazon offers but at the same time it does not seems like the right time for a business like amazon to accept bitcoin, they are going to get more trouble out of accepting bitcoin than benefits, so the only way for them to accept bitcoin is to ignore those issues thinking that eventually everything is going to solve itself.
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November 02, 2017, 06:57:42 PM
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At some point amazon will have to integrate cryptocurrency payments. That's for sure. The question is when. Right now I feel like bitcoin is not ready yet. Amazon handles a lot of orders per second and at this point in time bitcoin can't handle the same amount of transactions per second (yet). Of course it's foolish to think that, upon integration, all the transactions will be bitcoin based but in the long run it's something we should strive towards.
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November 02, 2017, 06:59:18 PM
 #18

I am sure they have already mentioned BTC during one of their internal board meetings, like Facebook, Google, Alibaba, ...
But the high-risk asset that BTC still is, does not allow these big players to integrate it into their portfolio.
When the BTC environment evolves and becomes mature and more stable I have no doubt it will be used by all tech giants out there!

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November 02, 2017, 07:25:39 PM
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It was an recent buzz that Amazon in accepting now bitcoin. do not think we are going to see bitcoin adopted soon by Amazon, I would love for that to happen since I will have access to all the universe of products that amazon offers but at the same time it does not seems like the right time for a business like amazon to accept bitcoin, they are going to get more trouble out of accepting bitcoin than benefits, so the only way for them to accept bitcoin is to ignore those issues thinking that eventually everything is going to solve itself.Amazon handles a lot of orders per second and at this point in time bitcoin can't handle the same amount of transactions per second (yet). Of course it's foolish to think that, upon integration, all the transactions will be bitcoin based but in the long run it's something we should strive towards.
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November 02, 2017, 07:37:38 PM
 #20




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Amazon is the largest e-commerce marketplace globally, and within a span of few years, it has quadrupled its market cap to $532 billion. It processes an unprecedented amount of orders and hence, the integration of payment technology or digital currency would require a prudent testing process and cautious implementation.

At this point, the demand for bitcoin is evidently increasing at an exponential rate, as the price of bitcoin recently surpassed the $7,000 mark for the first time in history. But, the scalability issues of bitcoin cannot be dismissed, since the size of the bitcoin mempool has increased back up to 50 million and the block size has remained above 1.04 MB in the past few days.

Currently, some of the most widely utilized bitcoin wallet platforms such as Blockchain and Coinbase are recommending transaction fees above $1. With SegWit-enabled wallets, the fees would likely be below $0.7, since as hardware wallet manufacturer Ledger stated, SegWit provides at least 35 percent reduction in transaction fees.

But, Amazon cannot expect general consumers or beginner bitcoin users to use SegWit-enabled wallet and enjoy lower fees, and in the short-term, the company may receive complaints in regards to high fees.


Read more here...


The recent buzz on the possibility that soon Amazon can be adopting Bitcoin as one of their medium of exchange or transactions is sending excitement all over. This can be a holy grail we are all waiting for. However, there are those who seriously look into the matter and concluded that there are still some big hurdles that have to be ironed out before Amazon would really start working for this dreamed adoption.

I am sure that all of us here are already familiar with that one big hindrance and we are also complaining about this since time immemorial. We keep on hoping that soon this thing can be given the right solution as paying a high transfer rate is actually not what Bitcoin is made for. Maybe Amazon is really just waiting for the right time to come and take Bitcoin but for now they must have concluded to temporary shelve the whole idea for reasons we already know.





It depends on the the number of users. If the potential of bitcoin as a payment by laymen is high then they will definitely implement bitcoin as a payment method. Once it becomes more stable then eventually small vendors will follow too in accepting bitcoin. Since Amazon doesn't accept PayPal this will make bitcoin a better alternative option.
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