Amazon accepting Bitcoin - What can go wrong?

[MotulDiesel]

In my opinion, i think bitcoin need to improve the speed of transaction. Bitcoin is really useful and convenient  in many way as no difficult procedure, no inflation and incognito. However, to be accepted as a way of payment by retailer or online shopping webs, bitcoin need to improve many disadvantages and retailer must have a different and detail way for bitcoin's payment because bitcoin absolutely out of regular payment like cash. Finally, i still glad to see bitcoin will be used as a payment for everything in future, it has much of advantages and applies bitcoin for payment will bring much benefit for retailer and customer.

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[whyrqa]

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.

that the price for Bitcoin has risen very high, can be very effective in terms of the popularity of the crypto currency. Therefore, soon we will see even more interest of businessmen in selling goods for crypto currency.

[Parodium]

I do not believe that any large corporation will accept bitcoin until either the lightning network is online, or there is a block size increase to reduce fees.

[canaveralnonie]

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? 

I think this is not a bad news to the BTC community. Amazon is aware of this since the bitcoin started. And I think Amazon is a big company that capable to maintain the value of bitcoin and help other small company to do more in the future sense. But you have a point in the other side. I keep observing in the future as well. Thanks for your concern in BTC.

[youghten]

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? 

Amazon will try bitcoin to start them own coins and may be accept using bitcoin to buy this tokens .

anyway amazon have gifts card and huge support which make it away from bitcoin

[danim1130]

they accepting bitcoin because they are smart enough and they accepted what is the future currency of all people that are still increasing up today. amazon is one of the most popular market now and they will be in the future.

[canaveralnonie]

they accepting bitcoin because they are smart enough and they accepted what is the future currency of all people that are still increasing up today. amazon is one of the most popular market now and they will be in the future.

You got it right Sir, Amazon is smart and good in business strategy that's why they know the demand of the market using bitcoin and different altcoins as well. No wonder how Amazon become one of the leading company specially in United States. They want to go on the evolution of technology using the bitcoin for the future and beyond.

[ajochems]

they accepting bitcoin because they are smart enough and they accepted what is the future currency of all people that are still increasing up today. amazon is one of the most popular market now and they will be in the future.

They come to know the importance of bitcoin, if they get bitcoin for FIAT means after someday they will get more then the holding. Actually I will consider this as a honor to the bitcoin. Bitcoin will be the future currency obviously so they get into the bitcoin very soon. This is not a end,all the site will accept bitcoin as a payment instead of FIAT Soon.

[Reatim]

In my opinion, i think bitcoin need to improve the speed of transaction. Bitcoin is really useful and convenient  in many way as no difficult procedure, no inflation and incognito. However, to be accepted as a way of payment by retailer or online shopping webs, bitcoin need to improve many disadvantages and retailer must have a different and detail way for bitcoin's payment because bitcoin absolutely out of regular payment like cash. Finally, i still glad to see bitcoin will be used as a payment for everything in future, it has much of advantages and applies bitcoin for payment will bring much benefit for retailer and customer.

I think it has improved a lot because mempool is not that clogged anymore. But to really improved in LN should be implement but that is just another story. That's why when bitcoin price beginning to go up, I think it has defeated its own purpose of being a micro-payment transaction. Now people think of it as a form of investment. So it will really take more time for bitcoin to be accepted and adopted by most merchants today.

they accepting bitcoin because they are smart enough and they accepted what is the future currency of all people that are still increasing up today. amazon is one of the most popular market now and they will be in the future.

You got it right Sir, Amazon is smart and good in business strategy that's why they know the demand of the market using bitcoin and different altcoins as well. No wonder how Amazon become one of the leading company specially in United States. They want to go on the evolution of technology using the bitcoin for the future and beyond.

If they aren't smart, Amazon will not grow as the #1 largest online retailer in the world. But it would take some time for them to really accept bitcoin now. They have to look at how the market of bitcoin is, potential earnings, their clients and so on. I also wish that Amazon should accept it today, but I have uneasy feeling that it will take some time for them to recognized bitcoin and readily accept it as mode of payment.

[1Referee]

I do not believe that any large corporation will accept bitcoin until either the lightning network is online, or there is a block size increase to reduce fees.

Segwit has been active for quite a while now, and yet it lacks serious usage due to services being reluctant to actually utilize Segwit for whatever reason. I am quite sure that if the economical majority starts utilizing Segwit to the full, we would likely be able to get the fees to decrease a bit, but that's all for now - Segwit unfortunately isn't a solution. We definitely need off-chain solutions (Lightning Network) to offer people the convenience they expect a proper functioning currency to have. Till that time, we shouldn't expect any major entity such as Amazon to even consider accepting Bitcoin. But then again, Lightning Network will definitely stimulate micro transactions, but these will likely just be P2P transactions rather than people actually spending their coins. No matter how well Lightning Networks functions, people will still consider Bitcoin to be more of an investment or store of value, rather than something they spend to purchase goods.

[Kingofbitcoin12345]

I think Op is right about the numbers per transaction with amazon members this would totally be a day to two waiting time and that is bad impression to bitcoin.. Maybe Amazon accepting cryptocurrency is much buyable,, so everyone can make many choices to divide this kind of problem or it’s better Amazon will start to planned for an altcoin to be made or support because with they’re popularity that would be successful and many would invest..

[canaveralnonie]

I think Op is right about the numbers per transaction with amazon members this would totally be a day to two waiting time and that is bad impression to bitcoin.. Maybe Amazon accepting cryptocurrency is much buyable,, so everyone can make many choices to divide this kind of problem or it’s better Amazon will start to planned for an altcoin to be made or support because with they’re popularity that would be successful and many would invest..

Using popularity means so much, just like a game changer in a crucial game of bitcoin community. It's also a good factor to reduce the risky part. Good thinking/comment.

[francis2]

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? 

A bad launch like that will be very embarrassing and we do not want that, there is no point in pushing for something bitcoin is not ready yet, we need at least a few more years before that becomes a reality.

[Need Escrow Today]

It's not as bad as you think

It's true that bitcoin tx is taking ages to be confirmed but with a higher fees which can go up to 100$ sometimes if you have many inputs then this sucks

[cicciobtc]

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? 

Big e-commerce companies like Amazon (or Alibaba) would incredibly increase the diffusion and use of bitcoin.
these companies have hundreds of millions of users with endless transactions every day!
When this happens, the diffusion of the btc will be massive.
Obviously in the meantime it will be necessary to find solutions for an immediate confirmation of the transactions.

[carlisle1]

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? 

i feally dont know why this issue about amazon to accept bitcoin
as payment being a big problem.when we can buy anything using bitcoin
even not in amazon.lets move on guys if amazon dont want bitcoin for their
company and so bitcoin dont need amazon too.this community is self supporting
we dont need then,instead they must need us

[kdrama]

there is nothing wrong just the amazon are trying to do what will be good at the market like steem because btc claiming to big fee's in some users of it, that's the problem of the btc's when it is put on some good markets like amazon.

[KaliLinux]

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?

Its because AMAZON holds so many regular customers and sellers as well. I mean sellers because they needs to accept with bitcoin payment systems.
So accepting bitcoin is not much easy in order to push sellers to accept the same because everyone needs to believe or understand its value.
If amazon or any eCommerce giants could able to find those sellers who aware and interested in crypto currency acceptance then it will be great and the same news will give a big spike in bitcoin.
Decision making is not only with AMAZON but also with contract seller's hand too.

[richardsNY]

there is nothing wrong just the amazon are trying to do what will be good at the market like steem because btc claiming to big fee's in some users of it, that's the problem of the btc's when it is put on some good markets like amazon.

Steam (if you're referring to that service) has indeed stopped accepting Bitcoin unfortunately, but it's quite understandable if we look at it from an unbiased point of view. People won't pay $10-$15 just in fees when they with that money can top up their account and buy stuff. I hope that Steam will rethink their decision once lightning network becomes publicly available. It should take away the current inconvenience and give people what they want, and that's something actually being worth spending. In easy terms, as long as there is no lightning network, people shouldn't expect Amazon to come on board.

[kiloiko]

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? 

There are two sides to this coin, you are only seeing the bad. If amazon began to receive in BTC with certainty in this version that the BTC this the network would be extremely congested due to the payments of purchases made in their site.

On the other hand if Amazon started to receive the currency as a payment would give an incredible hype in popularity, this would attract curious divers to the world of crypto coins and consequently disverse of them if they would enter this circle.