China might be a bigger issue than I thought

[byronbb]

With Overstock taking bitcoin I was thinking that Amazon would be smart to buy Bitpay as a means to get into the payment processing business and try and give Ebay-PayPal a black eye. The HUGE problem that comes up is China's "ban" or at least very negative stance to bitcoin, prevents overstock or any online giant from using bitcoins to pay their suppliers, who of course will be largely Chinese.

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[gentlemand]

Retailers will usually be paying importers/ wholesalers based in their own country or continent, though it'll be a long time yet, if ever, before Bitcoin transactions remain in Bitcoin.

I guess the real monsters might be a different matter but there'll be Bitpays for foreign currency transactions too.

China is still a giant pain up the arse at the moment for all the well documented reasons.

[traderCJ]

It'll be a very, very, very long time before a big retailer is willing to hold BTC to pay their suppliers.  I think we should be satisfied with BTC taking a chunk of the customer payment processing business for the next few years.

[Carlton Banks]

Well, the statements made by the owner of bitcoinstore.com contradict everything you guys are saying. Would asian suppliers make a special exception for him, for some reason?

[gentlemand]

What are they saying?

[hyphymikey]

Did China ban the USE of bitcoin? Why would you not be able to pay your suppliers in bitcoin?

Would the use of a system like Bitpay not be allowed in China, even if they ban bitcoin altogether?  Since the person on the China side only receives fiat from Bitpay, they would never even see the bitcoin.

[mb300sd]

Amazon is already in the payment processing business ( http://payments.amazon.com ) they might have some significant advantages with licensing, etc if they were to get into bitcoin processing.