Will Amazon accept crypto if Bitcoin skyrocket again?

[--DarkSecrets--]

Im pretty sure this thing will happen in the future remember when steam accep bitcoin as a payment method for cashing in steam wallet funds,i think what they did is just a dry run on how will it operate and amazon for sure will do this too

I have the opposite point of view. Amazon, being the richest and the largest marketplace, does not need Bitcoin. It is not going to take even the slightest risk. Their income is so huge that BTC will not change anything.

If their customers demand that they accept Bitcoin and other popular cryptocurrency and they still ignore the demand or request, then developers will one day set up a huge commerce online shop like Amazon if Amazon will not take the demand, because there is a market that needs a shop like Amazon that will accept cryptocurrency.

Didn't they have it now i thought they already accepting bitcoin as a mode of payment or i was wrong. By the way, i think it is not necessary for the people to demand before they take in the cryptocurrency payments anytime they can do it as far as i know and some people ofcourse will be curious about it and sooner or later will know about cryptocurrencies.

[Vishnu.Reang]

Im pretty sure this thing will happen in the future remember when steam accep bitcoin as a payment method for cashing in steam wallet funds,i think what they did is just a dry run on how will it operate and amazon for sure will do this too

I have the opposite point of view. Amazon, being the richest and the largest marketplace, does not need Bitcoin. It is not going to take even the slightest risk. Their income is so huge that BTC will not change anything.

If their customers demand that they accept Bitcoin and other popular cryptocurrency and they still ignore the demand or request, then developers will one day set up a huge commerce online shop like Amazon if Amazon will not take the demand, because there is a market that needs a shop like Amazon that will accept cryptocurrency.

ROFL.. do you really think that setting up an online shopping giant like Amazon is that easy? It may take many decades and for the first 10-15 years, this venture will be raking in heavy losses. Even after this period there is no guarantee that profits will roll in.

[erikoy]

That is not the basis for amazon to accept bitcoin as payment. The Amazon company should focus on how can bitcoin increase their sales through the clients thay holds bitcoin that if AMAZON company allow anonymous clients to buy their products. Now this is where the conflict will start because some products that are for sale should be given to a known customer for the record and if a bitcoin holder will allow these terms then definitely AMAZON company could take it to the next level.

[Vishnu.Reang]

That is not the basis for amazon to accept bitcoin as payment. The Amazon company should focus on how can bitcoin increase their sales through the clients thay holds bitcoin that if AMAZON company allow anonymous clients to buy their products. Now this is where the conflict will start because some products that are for sale should be given to a known customer for the record and if a bitcoin holder will allow these terms then definitely AMAZON company could take it to the next level.

Please explain why Amazon "should" focus on Bitcoin?

They don't need to increase their sales, as those have already hit the rooftop. And as far as I know, Amazon to this date has never allowed anonymous purchases (either due to company policy or due to government rules).

[StarofBTC]

I saw one thread in the Bitcoin Discussion about Amazon accepting crypto-->https://bitcointalk.org/index.php?topic=5135039.0. It's not a direct bitcoin payment though. You have to used a browser extension before you can used it to buy Amazon stuffs.

This is just, a third party application and not direct involvement by Amazon, there will be so much limitations in it and cannot be compared to when Amazon fully adopt it themselves and integrate the payment system into their platform.

A lot of them are already getting the light of it though, but I guess they are just not convince about when the right time to implement it, I read sometimes this week or last week, where a forum user posted about one of the paypal team speculating the price of BTC and paypal is still yet to adopt it, so they all know and probably waiting for the best time. Adoption of BTC by these big players will really go a long way for us in this field.

[Airbuxf]

Big companies will accept BTC if it will be less violent than now or using some trusted payment processors who exchange BTC quickly for USD/EUR etc.

[imstillthebest]

I saw one thread in the Bitcoin Discussion about Amazon accepting crypto-->https://bitcointalk.org/index.php?topic=5135039.0. It's not a direct bitcoin payment though. You have to used a browser extension before you can used it to buy Amazon stuffs.

This is just, a third party application and not direct involvement by Amazon, there will be so much limitations in it and cannot be compared to when Amazon fully adopt it themselves and integrate the payment system into their platform.

A lot of them are already getting the light of it though, but I guess they are just not convince about when the right time to implement it, I read sometimes this week or last week, where a forum user posted about one of the paypal team speculating the price of BTC and paypal is still yet to adopt it, so they all know and probably waiting for the best time. Adoption of BTC by these big players will really go a long way for us in this field.

Same here i also read a thread about amazon accepting bitcoin before but until i read this , i see that i was not direct support but that is still a good idea because we can use our bitcoin to shop online  .  i also see a thread about paypal team speculating bitcoin . from what i understand they are only predicting the price because they maybe investing on bitcoin but its not possible for the paypal to team up with bitcoin because paypal is already a payment method online and its known to be the biggest rival of bitcoin 

[alyssa85]

Overstock (amazon competitor in the US) already accepts bitcoin. But not that many people are using it to pay for stuff.

Basically adoption happens like this: if a small competitor adopts a new technology and starts to see a huge gain in customers, their larger rival will quickly adopt the same technology in order to grab some of those customers for themselves.

But if the small competitor adopts a new technoloigy and nothing much happens, then the larger rival simply won't bother.

So, if you want amazon to adopt bitcoin, you need to spend bitcoin on overstock, open bazaar and other places that accept bitcoin. It's only when the volume of bitcoin related sales increases substantially, will companies like amazon think about enabling crypto.

[Vishnu.Reang]

Big companies will accept BTC if it will be less violent than now or using some trusted payment processors who exchange BTC quickly for USD/EUR etc.

May be you meant "volatile" instead of "violent". But I don't think so. The volatility will not disappear over-night if companies such as Amazon and Ebay starts accepting Bitcoin. In order to remove the volatility, we need to decrease the proportion of the coins, which are currently in free-float.

[jak3]

for now, they are just taking bitcoin as an opponent rather than an opportunity. just like what all traders do, they first see how to market is performing and then give it a try with a small investment. but for Amazon, the case is different amazon want to be the world's top market retailer where everyone can get whatever they want and user details/information plays a  very important role in it. they can analyze the information for more productive sales. but if they accept bitcoin payments they will lose that essential information and a large part of Indian market trades.

[millgates]

There are a lot of small shops which accept crypto payments around the world. However, in my opinion, what will really push the cryptocurrencies forward is the adoption of Bitcoin by some big player in the trading industry, such as Amazon.

What do you think, will Amazon start to accept Bitcoin as a payment method if its price rises to new-record values again (like in 2017)? Could it be that they are not adopting it because they treat crypto as a hostile technology for their business? Or they just don't take Bitcoin seriously, like thinking it will despair in the near future?

When that happens then bitcoin will be more considered as an asset. Amazon don't accept bitcoin because the unstable price of it. It will be dangerous for amazon if accept bitcoin when bitcoin price skyrocketing because the price of bitcoin will be fall after that. So the problem solver for this is by using vendor service. Then bitcoin users can use their bitcoin to buy goods at amazon amd amazon still get income in fiat.

[fiulpro]

I think it's not the matter of sky rocketing rather the matter of * Not sky rocketing *

The reason being is:- no one wants anything to do with a thing that's too volatile to support a economy in a way it should be supported .

I think if Bitcoin becomes stable and shows wide public acceptance then there won't be anything left to do for other big companies other than accepting it.

It needs recognition and stability.

[illusioNiZt]

I hope they do would be easier to fund the wallet and won't need to use third party GC providers, Steam was accepting Bitcoin before it skyrocketed last year I wish it came back too most of the known sites don't keep BTC as payment mode due to the price fluctuations.

[altcoinhunter01]

I feel that it will happen sooner or later as Bitcoin is already using by many online stores as a payment option and Amazon always take new opportunities with big hands.

[FlightyPouch]

We should wait some more times for such kind of news. In my opinion Amazon will accept bitcoin when price will be in a stable range. Bitcoin price is not so high at this time and not stable too. Hopefully within few days, it will be a payment method on Amazon.

Well, what we can do right now is to hope and pray that it does happen since I know a lot of people are using Amazon to purchase or buy things and Bitcoin and other crypto currencies will surely make the payment method or transaction easy. The problem here is that I don't think they will accept that so quickly since we all know how unstable or volatile it is.

[Experia]

I think Amazon wont engage to bitcoin due to the high price of bitcoin, imagine they will bought it in the high price and if the price drops they are now in negative profit and I think they will settle for the currency with high stability in the market.

[Rana590]

We should wait some more times for such kind of news. In my opinion Amazon will accept bitcoin when price will be in a stable range. Bitcoin price is not so high at this time and not stable too. Hopefully within few days, it will be a payment method on Amazon.

[usorin]

The situation is completely reversed. If Bitcoin will become more stable and predictable it will be accepted by giants like Amazon. In the situation of a bull run they will not manifest their interest for accepting BTC or any other altcoin.

[yoseph]

The situation is completely reversed. If Bitcoin will become more stable and predictable it will be accepted by giants like Amazon. In the situation of a bull run they will not manifest their interest for accepting BTC or any other altcoin.

I dont think that Amazon have even considered accepting Bitcoins due to its volatility and they are not in the business of losing money and that may very much happen with the issue of high volatilty. They could however convert their BTC to FIAT on a daily basis if they don't want to lose money.

[Ucy]

They probably do not accept bitcoin due to regulatory and the volatility issues.
Yes, adoption by big companies will certainly increase adoption but at what cost? Can the governments allow them on "unregulated" currencies?