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Author Topic: Reason why eBay/Amazon will Never accept bitcoin  (Read 218 times)
MingLee
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December 19, 2017, 06:28:38 AM
 #21

Ebay, amazon and other companies like them will never accept bitcoin. The main reason:

1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.

Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.

And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
I mean if Amazon is going to be shipping from one of their warehouses they why shouldn't they be accepting Bitcoin or other cryptos? It's not like they can scam their customers and be able to justify it as there being someone else scamming them. Having products in their warehouses (while small) would make it really easy to avoid any sort of scamming and act as an effective escrow system for all parties.
It's not like something of this design is hard, just something that I don't think you considered.
Ebay shouldn't be accepting Bitcoin, ever. That would be a full-on clusterfuck.
tigermonkey
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December 19, 2017, 06:36:07 AM
 #22

Bitcoin has high transaction fee and low speed now. It is not good for small/regular purchase on amazon and ebay.

ldah94
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December 19, 2017, 10:44:42 AM
 #23

Of course, many inconveniences would be avoided, although the purchase and the sale could be made ptp, where the buyer requests the product and freezes his bitcoin in such a way that when the seller guarantees the delivery of the product, these btc are delivered to his account
 
Rahar02
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December 19, 2017, 11:08:04 AM
 #24

Ebay, amazon and other companies like them will never accept bitcoin. The main reason:

1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.

Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.

And that's besides Bitcoin's extreme volatility and slow confirmation times, etc

First, bitcoin does not need eBay or Amazon, credit card or PayPal works just fine for these platforms.
In every e-commerce platform, using escrow in every transaction is a must even though it takes few days for a refund if the transaction cancelled. It's better than not using escrow.
Actually, the big problem for bitcoin to be accepted world-wide is scale problem. Bitcoin can't afford too many transactions every second, higher fees and long confirmation time.
traderethereum
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December 20, 2017, 04:32:01 AM
 #25

actually, I am not to thinking too serious about this as I don't use my bitcoin to buy something on ebay or amazon. I prefer to withdraw my bitcoin to fiat and buy something in offline store. it still needs time to see bitcoin could be accepted in online store especially a store online like ebay and amazon or else. and if I want to buy on ebay or amazon, I think I can use my paypal account and pay with paypal. bitcoin still have many things to be fixed before can be used as payment in online store.

RealJoshuar (OP)
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December 20, 2017, 06:44:38 AM
 #26

Ebay, amazon and other companies like them will never accept bitcoin. The main reason:

1) There are a lot of scammers in the bitcoin sphere and we know that already. The issue is that is someone is scammed on eBay, for ex, Tony buys a laptop from George. George gets the $ on paypal immediately, but never ships the laptop. After a week or 2, Tony makes a report on ebay, which then takes the $ in George's paypal account to give back to Tony, while also suspending George's account. However if someone were to get scammed after paying Bitcoin, there is nothing eBay could do to get their bitcoins back, as bitcoin is nonrefundable(which is a huge issue when it comes to adoption). No one wants to know the money they spent and got scammed from is gone forever, with nothing they could do to get it back.

Now, some of you may say, "Well you can use an escrow system to accept Bitcoin, you know like they do on drug markets on the darknet". That may work on smaller mutlivendor marketplaces, but I'm pretty sure sites as large as eBay and Amazon won't want to deal with the constant reports of "I didn't get this package and my bitcoins are stuck in escrow, can you help me?" etc etc that come with an escrow system, as well as the fear of getting hacked.

And that's besides Bitcoin's extreme volatility and slow confirmation times, etc
I mean if Amazon is going to be shipping from one of their warehouses they why shouldn't they be accepting Bitcoin or other cryptos? It's not like they can scam their customers and be able to justify it as there being someone else scamming them. Having products in their warehouses (while small) would make it really easy to avoid any sort of scamming and act as an effective escrow system for all parties.
It's not like something of this design is hard, just something that I don't think you considered.
Ebay shouldn't be accepting Bitcoin, ever. That would be a full-on clusterfuck.

No, that's only in regards to Amazon FBA sellers. Many amazon sellers ship their own products themselves, and not through Amazon's warehouses...
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December 20, 2017, 06:52:32 AM
 #27

True,  there is no point in adding BTC as a payment option anymore, recently what Valve did with Steam. But they can always add other altcoins IF they deem that crypto is competing strongly with fiat at some point of time.
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December 20, 2017, 08:50:44 AM
 #28

I dont know about eBay, but amazon started accepting bitcoin as payment system, recently there was a news about that.
Bitcoins popularity increases day to day, people's using it in trading, investment and as exchange with goods. So merchants and retailers have to consider demand of population for use of bitcoin.
But to use bitcoin in routine, there are problems like fluctuations in value, no physical appearance and high transactions fees.
Malaya
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December 20, 2017, 12:37:15 PM
 #29

An easy answer for this is that, people in eBay/Amazon might not be really open to the things and opportunities bitcoin can provide. Meaning, they believe bitcoin yet. However, this cannot be always the case. Things always change. The things may have said never, in time...things will change.

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