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Author Topic: Amazon accepting Bitcoin - What can go wrong?  (Read 4773 times)
goaldigger
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November 18, 2017, 10:37:56 PM
 #61

13 hours for a single transaction is such a mess. Imagine waiting for 13 hours and declined, its such an inconvinent. But to hear that amazon accepts BTC is a great news. Maybe they work on improvements now. Lets just wait for the result. For now, lets appreciate the changes happening to amazon.

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November 18, 2017, 10:44:16 PM
 #62

A company like Amazon using Bitcoin would be huge because not only it is the biggest e-commerce/retailer in many countries it has many other service such as AWS ect so it will push the adoption of Bitcoin by the average joe several folds, But there are several issues such as the votality of the currency and regulation and nowadays fees and confirmation issues. (although amazon them selves could speedups the confirmations)

In France there is no Bitcoin option heck they just started accepting 4x payment a couple of days ago so we are far from having bitcoin as a method of payement here

Anywa for me big companies accepting bitcoin would render Bitcoin as popular as paypal in my opinion.
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November 19, 2017, 08:28:51 AM
 #63

13 hours for a single transaction is such a mess. Imagine waiting for 13 hours and declined, its such an inconvinent. But to hear that amazon accepts BTC is a great news. Maybe they work on improvements now. Lets just wait for the result. For now, lets appreciate the changes happening to amazon.

I think this is the real problem why mass adoption is still not happening. There are a lot of alternatives that possess lightning speed transactions like Ethereum and Dash so I see nothing bad if they experiment first with these altcoins instead of bitcoin.
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November 22, 2017, 10:56:25 AM
 #64

If we wait for the perfect solution it will take too much time. For now the solutions are palliative, but work for sometime anyway. People who deal with Bitcoins know its currently limitations, people are aware about it and if they still want to use the digital currency, go on...

With the way of purse.io still amazon purchases is possible with the bitcoin. There is many options available in online to use the bitcoin to recharge mobiles, air tickets and purse provides the payment options. Last month announcement from the Amazon team that making bitcoin to use in their site. Will take more opportunities to the re-sellers who doing selling for amazon.
True. Purse has integrated this into their system for a while now and it has been effective. However, we have to understand that we cannot compare purse users to amazon users. We are talking about the big market here that would create even much more awareness for the use of digital currency.

I totally understand the OP's plight here but I feel if some of these things don't happen now, at one point they will still happen and maybe that should start propelling the devs to really do more.
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November 22, 2017, 11:13:59 AM
 #65

If Amazon is really going to do that, it'll be great, we can buy everything we need with our Bitcoin Smiley). After Amazon there will be a lot of other online market also accept Bitcoin for payment as well
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November 22, 2017, 02:24:01 PM
 #66

I think a high percentage of amazon customers opt for the free shipping option which can take 2+ weeks. Waiting for bitcoin to confirm, on top of a 2 week shipping time may not be that much of an inconvenience.

The "scaling problem" could be a good problem to have. One way of viewing it is: "bitcoin can't be used to buy a cup of coffee and isn't ready for a prime time, mainstream, role". The flipside of that might say that if bitcoin's network lacks the transactional volume to cover all transactions, retailers might expand their platform to include support for other crypto to fill the vacuum. One perspective is likely over-optimistic while the other is the opposite. The likely outcome could be somewhere inbetween the two.

Bitpay green lights transactions on the 1st confirmation which isn't too bad.

Amazon accepting bitcoin would be similar to an official endorsement. If the public sees amazon endorsing bitcoin while banker CEO's condemn bitcoin it will create a divide, a conflict of mainstream opinion as opposed to the typical unified front the media is often able to maintain. That could encourage the public to research and learn about crypto more rather than believe the mainstream media angle of it being a bubble, which could be a good thing even if transactions aren't instantaneous.

Let's say we skip wait-times altogether. Say nobody gives a shit (a lot of people do, though). What about the fees? The astronomical fees from say, 200k utxo in mempool? I think it could hurt bitcoin more than it would help which gets me ranting about Core's incompetence.
Llo, the fees would really be the major issue at the end and people will end up just sticking to their normal traditional system than having to make use of the digital currency. Something really needs to be done and done fast and there is no way we can run from it because at one point or the other, we will still have to experience this.

This would really hurt just like you have said and will make people to start pulling to some other alts that would give them a better chance of the real life usage.

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November 22, 2017, 03:54:14 PM
 #67

If Amazon is really going to do that, it'll be great, we can buy everything we need with our Bitcoin Smiley). After Amazon there will be a lot of other online market also accept Bitcoin for payment as well
Does Amazon accepting it across continents?

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November 23, 2017, 10:32:08 AM
 #68

I see a lot of people pushing for companies like Amazon to accept Bitcoin as a payment option. Have we considered the

implications of these decisions? Let's say we cannot scale to "service" the need for millions of new people who would use

this technology for the first time. What a big embarrassment would it be, if people waited 13 hours for their transactions to

be confirmed. Doing this now will hurt Bitcoin more than any other "bad" thing that has happened to it before.

We need to wait for the perfect scaling solution to address this problem, before Amazon or any other big retailer starts to

accept Bitcoin as a payment option. The Lightning Network might get us close, but it is not a proven technology yet.

Let's hear your thoughts on this?  Huh Huh
Amazon is a very big market place and they have a whole good team of engineers and experts to handle their work. I think they will surely find the solution to the time span to conform the transaction and there one more problem that the high transaction fees bitcoin has this will affect their sales but they will overcome this all things as nothing is impossible.

Bitcoin will one-day reach n all the corners of internet and world too and everyone will start accepting it someone has to take a big step to make a revolution and amazon is doing it by accepting bitcoin as a payment method.


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November 24, 2017, 06:07:43 AM
 #69

According to " newsbtc.com "
A lot of people are excited about the news involving Amazon and Bitcoin payments. Some sources claim the company will enable cryptocurrency payments soon While that is an interesting opinion, it is also highly unlikely that will happen. In fact, Amazon shows no interest in any additional payment methods right now. It would be an interesting development if true, though.

This is not the first time we see rumors regarding Amazon and cryptocurrency payments. It would be a welcome change to see this happen. After all, the world’s largest online retailer accepting the only global payment method would yield some intriguing results. Unfortunately,  this is nothing more than wishful thinking right now. This will not change anytime soon, though, despite what some sources may claim. Grin Grin Grin
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November 24, 2017, 11:23:27 AM
 #70

Guys, is ir possible to buy not some stuff in shops like ebay or amazon? I way to buy ukulele, and spent some btc. How can indo it?
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November 24, 2017, 02:41:06 PM
 #71

no one can negate advantages of BTC in payment. I think big companies will slowly accept it to follow the trend but in their way for more convenient.
It is good to hear that amazon has started accepting bitcoin as their payments. By this way more big and small companies will also start accepting bitcoin from all over the world and the customers will be relaxed with their payments systems through bitcoin. I really appreciate this action of amazon and am looking forward to other companies to accept bitcoin as their payments.
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November 24, 2017, 03:28:02 PM
 #72

Guys, is ir possible to buy not some stuff in shops like ebay or amazon? I way to buy ukulele, and spent some btc. How can indo it?
You can use up your bitcoin on buying but by the use of purse.io as far as i remember because this thing is the way i do purchase something on amazon. You would need to use the service of purse.io.
Complications of accepting bitcoin as a mode of payment would really be there specially on confirmation times. Scaling solution would really be suggested. how many hours waiting time would really be not a good thing for consumer or users view.

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November 24, 2017, 03:35:35 PM
 #73

once amazon start accepting bitcoin ..  you guys know what will happen ?


ALL THE GRAPHIC CARD will out of stock  Cool Cool
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November 27, 2017, 07:16:48 AM
 #74

13 hours for a single transaction is such a mess. Imagine waiting for 13 hours and declined, its such an inconvinent. But to hear that amazon accepts BTC is a great news. Maybe they work on improvements now. Lets just wait for the result. For now, lets appreciate the changes happening to amazon.
We cannot expect things to remain the way they have always been. Definitely, one can understand that the scaling issue has been dragging for a while but that does not mean it won't be solved. If Amazon decides to accept bitcoin, obviously, it is not like everyone is going to start making use of it immediately.

Purse has somehow integrated Purchase of Amazon items with Bitcoin for a while now and it has been going smoothly even though directly on Amazon will mean on a large scale but if we do not start something, we may just end up being in our comfort zone.


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November 29, 2017, 07:53:38 AM
 #75

If Amazon is really going to do that, it'll be great, we can buy everything we need with our Bitcoin Smiley). After Amazon there will be a lot of other online market also accept Bitcoin for payment as well
Yes, we can but not in all countries anyway. There are still some countries where Amazon does not really ship to so we may just have to look at the concentration to be in some particular regions until then. However, it is still going to be massive anyway considering Amazon being an e-commerce giant with a lot of transactions being done every day. It would definitely pave way for a huge adoption for bitcoin.

Anywa for me big companies accepting bitcoin would render Bitcoin as popular as paypal in my opinion.
It really will push the adoption off the hook and knowing the amount of trading that is being done on the Amazon platform daily and looking at how the trading on Purse.io alone has been going for a while now, then one can really say the market is going to be huge. Bitcoin is surely not ready yet for that massive usage yet, but anything can change with the scaling issue being solved within a split of a second.

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November 29, 2017, 05:22:34 PM
 #76

Are you talking about just amazon.us or the entire Amazon like Amazon in every country. Because I don't think think that Amazon in my country accepts Bitcoin . It's not that my country is against Bitcoins as there are places where is see Bitcoin is accept but I just don't feel that Amazon has started accepting Bitcoin in my country.

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November 29, 2017, 08:20:47 PM
 #77

Are you talking about just amazon.us or the entire Amazon like Amazon in every country. Because I don't think think that Amazon in my country accepts Bitcoin . It's not that my country is against Bitcoins as there are places where is see Bitcoin is accept but I just don't feel that Amazon has started accepting Bitcoin in my country.

No one said that Amazon accepts Bitcoin. Not that long ago there was an article hinting at Amazon to be very close to accepting Bitcoin payments, but before that article got debunked by anyone with a functional brain, it was stated to be a hoax afterwards. Noobs were constantly spamming this entire forum on how 'fantastic' and 'amazing' it was that Amazon would accept Bitcoin. People here jump on something and take it for granted without doing any research themselves, and using common sense. Amazon doesn't need to accept Bitcoin, and in current state never will. I only see them even consider accepting Bitcoin, when lightning network is fully operational.
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November 30, 2017, 08:21:02 AM
Last edit: November 30, 2017, 12:24:43 PM by sana54210
 #78

I think this is the real problem why mass adoption is still not happening. There are a lot of alternatives that possess lightning speed transactions like Ethereum and Dash so I see nothing bad if they experiment first with these altcoins instead of bitcoin.
Well, trust may be the case and the support. Most times it is better to make use of something that is already being used on a large scale by a lot of people knowing the problem that is to be solved, than a coin that has not even been tested on a large scale yet and can show a lot of problem at any time. Just in simple terms, the devil you know is far better than the angel you do not know.

Amazon doesn't need to accept Bitcoin, and in current state never will. I only see them even consider accepting Bitcoin, when lightning network is fully operational.
In current state, I guess any company may love start accepting bitcoin payments as it will be double benefit to them (it is a way of collecting bitcoins and it is a way to attract new community of customers), in my opinion Amazon cannot be an exception.

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November 30, 2017, 08:51:34 AM
 #79

Affect this may be an unstable bitcoin course, constant jumps and speculation. I think, it is necessary to develop crypto currency, a couple of years, at least)

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November 30, 2017, 12:45:13 PM
 #80

Guys, is ir possible to buy not some stuff in shops like ebay or amazon? I way to buy ukulele, and spent some btc. How can indo it?
Yeah it is possible because as you said the bitcoin is now available for everything and the bitcoin is now getting famous day by day I know the bitcoin is now very popular and the price of the bitcoin will be high if the people will invest in the bitcoin and they will see the bitcoin will be the highest currency in the future as well. There is nothing going to happen in the bitcoin because the bitcoin will be high in the future.
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