Predict the Date: When will Amazon accept Bitcoin ?

[Bono]

More likely that Amazon will come out with its own currency.

They can try, but I don't see why people would adopt it.

Reason #1

Because it's fricking Amazon.

So people will buy into amazon's currency so they can spend it on Amazon? Might as well just vouchers. And any company can create their own money, but it wont be cryptocurrency.

If they did would it be 100% pre-mined?

Doubtful.

They'd probably "mine" it by offering rewards programs to get it into circulation. But it can only be spent on Amazon, issued by Amazon, etc. and might offer some value that cash doesn't, like "X amount off orders worth $Y" or expedited shipping, reduced sales tax, whatever.

Amazon likes to handle things in-house... they're the largest shipping operation in the history of humankind. Tens of thousands of outlets and warehouses. A whole internal system.

[hilariousandco]

More likely that Amazon will come out with its own currency.

They can try, but I don't see why people would adopt it.

Reason #1

Because it's fricking Amazon.

So people will buy into amazon's currency so they can spend it on Amazon? Might as well just vouchers. And any company can create their own money, but it wont be cryptocurrency.

If they did would it be 100% pre-mined?

Doubtful.

They'd probably "mine" it by offering rewards programs to get it into circulation. But it can only be spent on Amazon, issued by Amazon, etc. and might offer some value that cash doesn't, like "X amount off orders worth $Y" or expedited shipping, reduced sales tax, whatever.

Amazon likes to handle things in-house... they're the largest shipping operation in the history of humankind. Tens of thousands of outlets and warehouses. A whole internal system.

This kinda seems the opposite of what cryptos are about, but I guess it's only a matter of time before some corporation tries their own pre-mined Corporatecoin.

Oh, and YEAH, YEAH, YEAH!

[jeliman]

the acceptance might come, but first, BTC has to stabilise itself and I dont see this coming in the near future. Right now, it is more of an amazing volitile digital commodity with some payment options.

Depends how you define 'near future'. I reckon it will stabilise eventually, but it will take time.

10 years or more I guess

[cgriswold]

More likely that Amazon will come out with its own currency.

They can try, but I don't see why people would adopt it.

Reason #1

Because it's fricking Amazon.

So people will buy into amazon's currency so they can spend it on Amazon? Might as well just vouchers. And any company can create their own money, but it wont be cryptocurrency.

If they did would it be 100% pre-mined?

Doubtful.

They'd probably "mine" it by offering rewards programs to get it into circulation. But it can only be spent on Amazon, issued by Amazon, etc. and might offer some value that cash doesn't, like "X amount off orders worth $Y" or expedited shipping, reduced sales tax, whatever.

Amazon likes to handle things in-house... they're the largest shipping operation in the history of humankind. Tens of thousands of outlets and warehouses. A whole internal system.

This kinda seems the opposite of what cryptos are about, but I guess it's only a matter of time before some corporation tries their own pre-mined Corporatecoin.

Oh, and YEAH, YEAH, YEAH!

http://blog.39degreesnorth.tv/wp-content/uploads/2010/10/bono_in_africasmall.jpg

No corporatecoin would ever be accepted by the masses or the media; not even Amazoncoin.  After Overstock adopts btc, it is likely other retailers will follow.  Another thread could be started on when Ebay/Paypal will accept.  Bitcoin takes profit away from them so, actually more unlikely for EBay than Amazon.   However, Online Retailers save money by using Bitcoin- - - No 1.5% payment to process creditcard plastic fees.  This is big money & this is why online retailers will adopt someday.

[yatsey87]

the acceptance might come, but first, BTC has to stabilise itself and I dont see this coming in the near future. Right now, it is more of an amazing volitile digital commodity with some payment options.

Depends how you define 'near future'. I reckon it will stabilise eventually, but it will take time.

10 years or more I guess

I hope its less than that. I reckon we'll see quite a bit of growth next year. Hopefully many high streets will accept BTC within five years.

[hilariousandco]

No corporatecoin would ever be accepted by the masses or the media; not even Amazoncoin.  After Overstock adopts btc, it is likely other retailers will follow.  Another thread could be started on when Ebay/Paypal will accept.  Bitcoin takes profit away from them so, actually more unlikely for EBay than Amazon.   However, Online Retailers save money by using Bitcoin- - - No 1.5% payment to process creditcard plastic fees.  This is big money & this is why online retailers will adopt someday.

Corporatecoins may be used for individual sites as they try cash in on the trend, but I can't see their mass appeal.

Hopefully Overstock's dealings in BTC will be a successful one and more will follow suit. I really think Bitcoins future depends on some big merchants successfully getting behind it.

Ebay/paypal could still utilise Bitcoin, they just need to build it into their system and take a cut automatically. I think ebay should build its own marketplace as there's obviously demand for this.

[Darthswan]

2nd quarter of 2014

[jeppe]

its not gonna happen any time soon. as everyone else is saying everyone has to be using it before they accept it

[StopSmoking]

i think they create her own coin

[cgriswold]

2nd quarter of 2014

Still going with Late November 2014 (black Monday availability) Amazon will not offer before Overstock.com who targeted mid 2014 for BTC acceptance. http://bits.blogs.nytimes.com/2013/12/26/overstock-to-embrace-bitcoin-giving-the-currency-a-lift/?_r=0  When Overstock.com makes the move, there should be a significant rise in BTC price.

[robhimself]

For an even money bet I'd go with never. I think it's more likely some other crypto will beat bitcoin sooner or later and that at some point amazon will accept some sort of crypto.

[furdur]

My guess: all webstores will accept bitcoin payments by the end of 2016. It doesn't necessarily have to be bitcoin, but most probably it will because of it widest spread adaptation.

[metalgearx]

I think it may be longer than five years. Seeing as the china ordeal was quite a blow to bitcoin. Some have even said that this de-legitimizes bitcoin. Some have said that the china ordeal has doomed bitcoin to life on the fringes. But this may be offset by the rise of other crypto currencies. Perhaps pressure from rising use of these currencies will make amazon and other shops relent. I saw that google has invested in some other cryptos like ripple, say it may be that they will accept such currencies for use on amazon play. Come to think of it, I kind of think that online subscription services/download services like itunes, or ultraviolet, or amazon prime instant video, netflix, would also jump on the bandwagon. Here we are trading digital services/goods for digital currency, as opposed to digital currency for phyisical goods. Its sounds neat though not necessarily cheaper. Maybe beginning with smaller shops and their adoption will lead to bigger online retailers accepting cryptos.


But the way forward some have said would be to drive greater adoption. What are the safeguards for cryptos against inflation, if any? Im new to all this.

[melish02]

2016 xmas

[bonecoin]

I think they will wait and see how overstock does before accepting Bitcoin. 2016 looks like the most likely answer. the advantage to amazon is lower fees than credit cards and no charge-backs. it is a smart business decision. As long as they convert to US$ at the time of sale there is no risk to them.

[black_swan]

Amazon will not accept bitcoin or any other crypto any time soon.
Amazoncoin is far from a coin, except for the name, it's like a voucher, I guess they tried to used the word coin to make it "rebrand" the voucher thing.
Overstock, as a first, will be a big experiment, we will see how it goes.

By the way, why do you think Amazon pays the standard rate to plastic? They must have a better deal

[MegaFarmer]

I think Christmas 2014 is a good guess.
Anyhow, I am convinced that the day will come so I'm holding on to my precious BTC until that day comes

[cgriswold]

Amazon will not accept bitcoin or any other crypto any time soon.
Amazoncoin is far from a coin, except for the name, it's like a voucher, I guess they tried to used the word coin to make it "rebrand" the voucher thing.
Overstock, as a first, will be a big experiment, we will see how it goes.

By the way, why do you think Amazon pays the standard rate to plastic? They must have a better deal

Amazon is most likely still paying 1%.  This is an incentive to move away from plastic and the banking system.

[VST]

Hopefully soon after Overstock rolls it out. That's gonna be the big ticket that tests the waters. Once other retailers see Overstock's success, they'll join in.

[muldoonski]

Considering it's 2014 (for a lot of people) and Amazon still doesn't accept paypal, it's hard to say when they'll embrace BTC.   

Overstock is awesome, but the day Amazon accepts it, BTC goes to the moon as I think that officially will make it mainstream.