Can Amazon Integrate Bitcoin?

[stayeduptolate]

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.

This will be very good news if it is true this will be very great achievement for both bitcoin and the amazon. Among is largest online selling company which has millions of customers and providing satisfactory facilities to millions of people and if it starts accepting bitcoin then it will be very much beneficial for bitcoin also because the people who don’t know about the bitcoin can come to know about the bitcoin and thus bitcoin will also be popularised by this.

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[YesJP]

Not yet, maybe in the future when bitcoin whould become more scalable, but I think that Amazon would partner with another crypto before they start using Bitcoin

[mitchr4]

It's a good thing if they accept bitcoin as an additional payment method like credit card or paypal usage. Besides amazon, other famous e-commerce companies no one is receiving bitcoin i do not know they can not accept it yet. I could say that bitcoin is a very effective and efficient that used as payment.

[Sowik]

Not yet, maybe in the future when bitcoin whould become more scalable, but I think that Amazon would partner with another crypto before they start using Bitcoin

I doubt that. If they are to accept crypto currency as payment it may not be only Bitcoin, for example ETH as well and so on but I doubt they will partner with another crypto.

[MCVXYZ]

Not yet, maybe in the future when bitcoin whould become more scalable, but I think that Amazon would partner with another crypto before they start using Bitcoin

I doubt that. If they are to accept crypto currency as payment it may not be only Bitcoin, for example ETH as well and so on but I doubt they will partner with another crypto.

Of course it would be better for them to use more cryptos as a payment method because of just competition,We all know that amazon is one of the greatest company in global economy,therefore they need to follow contemporaneity,I think it means that they will use bitcoin or even bitcoin cash for their payment method,Which also be a very good example for another companies like ebay,etc.So processes like that is very good for growing popularity and truth.

[localcrypto]

amazon won't integrate bitcoin in near future the reason Amazon will develop their own coin and use as cryptocurrency coin that might be the plan of Amazon in the coming future

[Maame Esi Sergio]

I heard this new of amazon wanting to integrate bitcoin as payment system long a go but i don't think this will favor such a company. The coin is too volatile and could cause amazon a huge deficit if they should use it as a means of payment on their network. They are going to loose millions of dollars if there is a drop in the price of bitcoin.

[Vs225655]

  It seems to me that Amazon, even if it wants to integrate Beatkin, then He must think well how to integrate it into his system. After all, the course is different every day and every hour.
  But in general, there are more such internet giants like Amazon, Google, Facebook, etc. will recognize Bitkhin so its price will go up

[Onews1990]

 I think it would be easy and comfortable because amazon is online store  and bitcoin is a digital money so it's like really seems to help with their costumers to buy more. If I would have an opportunity to buy goods with my bitcoin I will definitely do that.

[nguyenthanhvien]

I think they will not use BITCOIN in payment because the cost per BITCOIN transaction is too large. The BITCOIN market is volatile as this will make Amazon out of control. And they will not control the origin of BITCOIN, unknowingly helping the money laundering organization.

[Onews1990]

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 suppose that in this world of competition, you need to do something crazy and innovative in order to stay on the top of the wave. So for me, it's seams logic, that one of the biggest companies need to make the first step in Bitcoin-accepting.

[chrisculanag]

Maybe it's not the right time for amazon to accept bitcoin. They may still be learning about bitcoin or maybe because of a slow transaction and sometimes increasing fees so they avoid bitcoin.

[jcojci]

I am sure that Amazon can integrate bitcoin with their payment system because as we know, Amazon is the largest company which have a thousand customers and they are really secure in the payment system. they have a good team and they can manage this if finally, bitcoin is integrated with their payment system. this will makes amazon become widely and will reach more customer in the future.

[nerlial]

Amazon will soon begin to take bitcoin as a means of calculation. With time, all major vendors integrate bitcoin as a means of calculation.

[robotrobert]

Amazon will soon begin to take bitcoin as a means of calculation. With time, all major vendors integrate bitcoin as a means of calculation.

Amazon is going to accept or maybe it is already taking payments in bitcoin. Bitcoin is something that is going to make you rich without doing anything rather by simply investing into it and keeping it in wallets for so long. This is how people became millionaires with bitcoin. I am sure that CEO of Amazon is already holding some good number of bitcoin in order to increase his wealth and maintain his position.

[squog]

Amazon adopting bitcoin or any virtual currency in their company is huge. But we fail to see the reason why not small businesses actually adopt virtual currencies in their businesses. The reason being that virtual currencies themselves are so volatile that it actually discourages investors to jump in. Maybe with the pull of amazon they couod do it, but I doubt they will.

[jitenrajput]

Amazon is a big tech giant and capable enough to implement blockchain or acceptance of cryptocurrencies in exchange of their goods. I've heard that it is planning to start accepting bitcoin. Now, whether it is real news or rumor, time will reveal.

As far as US government is concerned, they haven't been tough in case of crypto.

[weblouartisan]

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

As of today, amazon is already accepting cryptocurrency as a payment method in their ecommerce website and that is the reason why government should be legalizing cryptocurrency in their country.

[roadwell890]

Bitcoin's integration as a payment gateway in Amazon is great news
Jeff Bezos must be ready to think carefully about the integration of Bitcoin, whether with Bitcoin marketplace will have a good impact or even will be bad

[2@abcdeeply]

If Amazon accepts BTCs in the purchase of goods, it is an advantage for the cryptographic economy, as this would boost trading volumes of coin and higher prices.