You Can Now Shop With Bitcoin on Amazon Using Lightning

[Baofeng]

You Can Now Shop With Bitcoin on Amazon Using Lightning

Bitcoin spenders can now use the lightning network to shop at e-commerce sites like Amazon.

Crypto payment processing startup Moon announced today that any lightning-enabled wallet can now also be used through Moon’s browser extension. Before this lightning feature, roughly 250 beta users already used Moon to spend crypto on e-commerce sites by connecting the browser extension to exchange accounts like Coinbase.

To be clear, Amazon itself never touches bitcoin. Kruger declined to specify which traditional financial institutions are helping convert the bitcoin to fiat on the backend so that Amazon merchants actually receive fiat currency for their wares. However, Kruger added that by 2020 the lightning-enabled feature should work on almost any e-commerce site, regardless of whether that platform accepts bitcoin directly.

“There’s no direct merchant integration,” Kruger said, clarifying that Moon also manages payment channels and merely offers a simple interface for sending payments.

https://www.coindesk.com/you-can-now-shop-with-bitcoin-on-amazon-using-lightning

What are you thoughts about this one? Remember you have to download your browser's extension and then connects your wallet. And this what worry me most. As this could be another potential loopholes that hackers can exploit. And I assume that the fee's here will be high as well.

I also heard negative press about the people behind this company. So this is not an endorsement of any kind. Just wanted to brought this to the community. Always used your common sense.  

Edit: https://www.reddit.com/r/ethereum/comments/auqrhf/psa_on_moon_browser_extension/

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[alisafidel58]

I thought I saw a thread yesterday about this topic seems like it has been deleted.


Even though the project is great and can relatively help online buyers that use crypto to buy something out of Amazon, I still wouldn't install an add on in my google chrome. As you said this could be a loophole where hackers can get information about somebody's crypto wallet and other information that a hacker can exploit.

[pooya87]

the title of the article is very misleading because you still can not "shop on Amazon with bitcoin" since they do not accept bitcoin and what you are doing is that you are going through a third party which is never desirable specially when we are talking about decentralized bitcoin which was supposed to cut all the middle men.

besides Amazon should be a thing of past for us, in our world we should stick to decentralized market places such as Open Bazaar and make them grow and replace Amazon.

[btc_angela]

I try to look at Amazon's blog and I can't find anything related to this news. Anyways, @pooya87 says it's not a direct bitcoin->bitcoin payment, need a third party so I wouldn't consider this as adoption per se.

[Beerwizzard]

Notice that Amazon is still not receiving Bitcoin so you can't say that you are really paying with BTC for something. The other thing is that sometimes such big companies provide anti crypto policy and ban all crypto related accounts. Just as PayPal, some other payment systems and some big banks do.
So we still have to see Amazon's official statement about this payment method.

[BlackFor3st]

This is kinda tricky and there is a big possibility that the browser's extension will end up stealing our information especially our private keys and etc.

The project is good to be true. If it can really process the payment using bitcoin then there should be an announcement by the side of the Amazon and they are even claiming that it will work on almost e commerce site. It is better to avoid this kind of action as I am pretty sure that it is only a trap.

[okala]

There was a thread yesterday about this amazon e-commerce shop accepting bitcoin through lightning network, well as you have rightly said users need to use they sense because in as much as this development of Amazon shop accepting bitcoin is a good news the fact still remains that the transactions are done using a third party website which give us so much concerns.

[Kakmakr]

It does not count when you buy at Amazon via a payment processor, because that is not merchant adoption. Amazon should host their own Lightning Network nodes and accept Bitcoin payment directly for it to be significant news.

Moon is just another risk factor, because it is an exploitable centralized service with no reputable history and credibility behind their name. So this can even be dangerous for people to trust these kinds of services. <even worst, through browser extensions>  

[Bitinity]

I thought I saw a thread yesterday about this topic seems like it has been deleted.

You did not see it but you did even reply to the thread with old news.

Even though the project is great and can relatively help online buyers that use crypto to buy something out of Amazon, I still wouldn't install an add on in my google chrome. As you said this could be a loophole where hackers can get information about somebody's crypto wallet and other information that a hacker can exploit.

If there is an official announcement from Amazon that this add on is safe then I think it is OK to use it. I'm curious to know what Amazon's CEO thinks about this add on.

[Ailmand]

It's hard to believe that payments can be made on Amazon using Bitcoin. They have announced the they will be launching it on Wednesday but Amazon doesn't have any further announcement about it yet so it is still hard to believe. All I know is that Amazon has not started cryptocurrency payment directly but it would still be fiat through Visa and Mastercard.

[Yaunfitda]

It's hard to believe that payments can be made on Amazon using Bitcoin. They have announced the they will be launching it on Wednesday but Amazon doesn't have any further announcement about it yet so it is still hard to believe. All I know is that Amazon has not started cryptocurrency payment directly but it would still be fiat through Visa and Mastercard.

It's not a direct payment as the articles say. You need someone in between to facilitate the payment that's why you won't here anything on the side of Amazon.

But my concern is that you need to "trust" that third party, which for me defeats the whole purpose of crypto. It should be crypto-to-crypto, anyways, I won't used there services to be honest. Would use other payment method unless Amazon officially says that they are going to accept crypto, but that is a long shot.

[Haunebu]

besides Amazon should be a thing of past for us, in our world we should stick to decentralized market places such as Open Bazaar and make them grow and replace Amazon.

What the heck is Open Bazaar? Never heard of it. Why in the world do you think this site can actually replace the king of E-commerce anytime in the future?

The best option here is Amazon allowing users to use crypto as a payment method though they don't really have much incentive at the moment to do that which is why they don't care about it currently.

[peter0425]

besides Amazon should be a thing of past for us, in our world we should stick to decentralized market places such as Open Bazaar and make them grow and replace Amazon.

What the heck is Open Bazaar? Never heard of it. Why in the world do you think this site can actually replace the king of E-commerce anytime in the future?

The best option here is Amazon allowing users to use crypto as a payment method though they don't really have much incentive at the moment to do that which is why they don't care about it currently.

Here it is buddy: https://openbazaar.org/. They have been in the crypto sphere since 2016 so I don't know why you are not familiar with it.  . Of course we would like to see Amazon accepting bitcoin, and everyone has been speculating that they might do it in the future, but it seems that they are not really interested as of the moment. That's why this so called startup company Moon, decided to take the plunge.

[beliomir]

It's hard to believe that payments can be made on Amazon using Bitcoin. They have announced the they will be launching it on Wednesday but Amazon doesn't have any further announcement about it yet so it is still hard to believe. All I know is that Amazon has not started cryptocurrency payment directly but it would still be fiat through Visa and Mastercard.

In any case, this is positive news, and we see how the market comes to life thanks to such news. I think this is a matter of time.

[Mandoy]

This is actually a good news but there are also many things that we should consider before shopping in Amazon using bitcoin. But what really worries the bitcoin enthusiasts is the third party server that is just new and has no track record whatsoever. Everything that is new and seems mysterious to the community are a big question mark. There will be many doubts and questions about the process and their credibility. But I guess soon enough if there will be people that will make a good review about this new method of buying into Amazon using bitcoin via the third party then that will be very helpful for all of us.

[Pr3ko]

If this becomes true, it will be a new step for this platform

[lovesmayfamilis]

This is very good news, it says that already Bitcoin can be paid through the Lightning network. This may be one of the reasons why Bitcoin can continue to grow further. Because it is a pleasure to pay in Bitcoin with a small commission and without delays.
I have no doubt that this is only the beginning of the recognition of cryptocurrency as a method of payment.

[traderethereum]

I don't want to install any add on in my browser because I have a bad experience on installing the add on. Even if the add on will help me to shop using bitcoin on any online store, I still don't want to install it.
It's too risky for me and you, because we don't know if the add on can be safe forever and nothing is safe forever especially on the internet.
As we know that when we are connected to the internet, we need to be careful if we don't want our private information to get a stolen or hacked by another person.

[Kemarit]

If this becomes true, it will be a new step for this platform

If you read the article, it seems to be true. Also searching around the internet yields a lot of news about this one.

This is actually a good news but there are also many things that we should consider before shopping in Amazon using bitcoin. But what really worries the bitcoin enthusiasts is the third party server that is just new and has no track record whatsoever. Everything that is new and seems mysterious to the community are a big question mark. There will be many doubts and questions about the process and their credibility. But I guess soon enough if there will be people that will make a good review about this new method of buying into Amazon using bitcoin via the third party then that will be very helpful for all of us.

Personally, I just wouldn't jump on this kind of hype. Again, there is someone involved in the middle, doesn't and it doesn't sit down with the way I wanted to used my bitcoin as a payment. There are already lots of questions already as posted by the OP, questions that can only be answered if users started to take advantage of this so called services.

[yusupjatigumilar]

I really don't know firsthand whether this is true or not, but certainly every bitcoin news that appears I always hope that it can make the crypto currency market more and better. If indeed this is true means shopping on Amazon can be done easily anywhere and anytime without any distance and time limits.