Can Amazon Integrate Bitcoin?

[STRAKS]

I doubt that they will be doing that anytime soon. The VP of Amazon recently stated that there is no market need to integrate Bitcoin and therefore they currently do not have plans to implement BTC nor other digital currencies as payment solutions.

[Lompe]

They can, but they will not do it. They already bought a Bitcoin-related domain name but that was rather to protect their brand than to offer a new service - because basically they do not need a new website to accept Bitcoin .

[dmamigo]

The integration will bring a great option for buyers, the fees is a hurdle ofcourse, but if we consider many doesn't have Credit Cards then I believe the fees won't matter for many. The option of Bitcoin for payment will be appreciated by many.

But yes who has options other than Bitcoin, they will think before spending on purchase. So it will be an issue for Amazon to take a decision of integrating Bitcoin

[Xising]

Amazon can most certainly can. It is one of the most richest companies out there that cater to online services. So, they must have advance technology to integrate bitcoin and make it secure at the same time.

[betMaster]

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.

I'm curious to see what people will say about that. Many consider bitcoin as a rare currency and i don't believe that they will accept bitcoin as a way of payment. Of course some will like. Those who work and get paid in bitcoin will definitely welcome the idea since it make it easier for them to shop from Amazon. This is a good step in integrating bitcoin is our social life and make those who don't know what bitcoin is wonder what is it about. It can attract the attention of  many online shoppers and spread the population of bitcoin even wider.

[noel2123]

I doubt that they will be doing that anytime soon. The VP of Amazon recently stated that there is no market need to integrate Bitcoin and therefore they currently do not have plans to implement BTC nor other digital currencies as payment solutions.

agreed Implementing bitcoin would be great but I think Amazon has future plans so they will not accept it at the moment , I'm a bit sad about it because Imagine how much can we  save if we can directly buy amazon products using bitcoin , no need for me to go to exchanges and less hassle for bitcoin users.

[ene1980]

If they do implement bitcoin as a mode of payment it would be great,but the news of bitcoin being accepted by amazon is going around for a very long time and yet they are to implement it,with the price of bitcoin rising and the new announcement of derivatives market might sway their minds .

[nurlela]

i do not know entirely clear what purpose that news. there is no official statement from amazon about bitcoin integration.
it maybe happen several years later. because, there are too many cases to solve, about return item, price stability, regulation and many others. if they find a way to solve the case, then it is likely to happen

[bstewart]

Amazon will at some point, although I think I everyone is hyping it too much.

[Pearls Before Swine]

For the moment I don't think they are interested to implement bitcoin as payment.

Brilliant analysis.

I'm not exactly against using bitcoin to buy things, even though I'd much prefer to spend
fiat, but I'm totally for this.  If they accepted bitcoin, I and others would have an excellent
place to buy with crypto.  Right now, there isn't a big retailer other than overstock (which
I've never used) that takes it, and for those of us who don't have any exchange accounts,
it's a way to convert bitcoin to something tangible.  I'm really hoping Amazon comes around.
I suspect they will, and then after them I'm hoping Ebay does the same.  Then we'll know
bitcoin has truly arrived.

[jatin729]

Yes Amazon can integrate, but as we all know in bitcoin's world there is always risk involved due to fluctuations of prices. If we see this year data bitcoin has done fabulous job and jump into 7000 usd.
Maybe only price is the reason for amazon to think about bitcoins. And also there is two point of view.
First see amazon point of view " it says amazon can make huge profit from bitcoins because price will gonna rise in future".
Customer point of view" customer can buy goods by using their bitcoins without converting it into fiat currency that means no banking operations involved in it ".

[shesheboy]

Amazon can most certainly can. It is one of the most richest companies out there that cater to online services. So, they must have advance technology to integrate bitcoin and make it secure at the same time.

amazon is a big company so i dont believe that they can integrate bitcoin instantly because bitcoins value arent stable so they may find it hard to adjust the pricing of their items from time to time but i think it can also have a good impact to thier sales because most people nowadays are now using bitcoins to shop online or offline. although  ive heard that they bought a new domain but we arent sure yet if ts really for bitcoins.

[Domenc]

I strongly think that amazon can integrate bitcoin . Many sources are telling that amazon is considering to adopt bitcoin as means of payment . Bitcoin's large influence and value is the main reason behind it .
If this happens then bitcoin will get a very large headstart and the market value will hike to more greater values .
Amazon is such a great platform to publicize and encourage more and more people to use it.

[GubiMixa1292]

This news make bitcoin price increase a lot. Bitcoin will reach 10k$ soon.

[ladydark]

Amazon Technologies has registered three domains with names related to crypto currency.The move was expected to be announced on october 26th.But i think that it would take years for amazon to incorporate bitcoin since it has to do a detailed research about crypto payments.

But at the same time,it could not simply avoid bitcoin payments any more since its competitor online retailer Overstock has been accepting bitcoin payments since 2013.Amazon could not simply leave customers using bitcoin payment to its competitor.

Already,most of amazon users were asking amazon CEO to accept bitcoin payments and very soon,we could expect such an announcement.

[TTITA]

i do not know entirely clear what purpose that news. there is no official statement from amazon about bitcoin integration.
it maybe happen several years later. because, there are too many cases to solve, about return item, price stability, regulation and many others. if they find a way to solve the case, then it is likely to happen

yes nothing impossible, when many people was holding some btc, of course amazon will open minded to their customers to open options bitcoin as one of payment methods.
these has been happen with some company whom accepting bitcoin, such as overstock, newegg, etc.

[skyline247]

Amazon could very well integrate Bitcoin and that would be a smart thing for them to do so they could start stashing reserves of Bitcoin, but if they made a public statement then they know there would be the government somehow trying to tax their earnings or regulate what they're doing somehow especially if they have infrastructure in the US. Amazon should just buy them OTR.

[Wesimon]

A company like Amazon whose transaction was done online will always be open for integration. I'm pretty sure that they were already starting to impose the use of digital currency in their transactions. However, though bitcoin is one of the best potential coins to be use, the would probably consider a faster response and transaction to be used.

[jagdeepjd]

Amazon one of the ecommerce giant would surely want to and be the first among others to adopt and integrate digital currency like bitcoin. but there are few things which as mentioned in the OP are the hurdles for the bitcoin to be integrated as the payment options

1. volatility (price of bitcoin mostly keeps fluctuating and that fluctuation is sometimes more than 1000$ at times )
2. Transaction fees( at the moment transaction fees are almost 3$-5$)
3. delay in txn confirmations.

as above mentioned things will be taken into account and untill they are in control i dont see amazon integrating bitcoin.

[BartS]

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.

The volatility is not an issue, people have uses services like bitpay for a very long time so I will not be surprised if amazon created their own in house solution similar to that to deal with the volatility, what has always worried amazon is the possibility of fraud that bitcoin creates since you can create a wallet with no id verification then that means that a person may claim to be anyone he wants and that is something that amazon is not going to like that much.