Amazon will accept Bitcoin payment this year

[Charles-Tim]

This is another good news as Bitcoin adoption is increasing year after year, there has never been a direct means to use Bitcoin as payment on Amazon, but there will be changes even before the end of the year. Amazon is already planning to add Bitcoin to its payment method, it was said that the directive is coming from the Amazon president, Jeff Bazos.

“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” she told City AM.

“It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.”

The insider also explained that directors of the world’s fourth largest company were keen to move towards ticking off other big cryptocurrencies once it had established a fast and secure method of Bitcoin payment.

[palle11]

This could be another plus for bitcoin just like PayPal too few months back. It seems like every bull or bear has something to lead the way. This is a cheerful news and is likely to attract new buyers to hodl because of the expectation of increase demand. This 3rd quarter may see the beginning of another bull with this news.

“It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.”

This shows more crypto will be added in the near future, maybe ethereum could.

[The Sceptical Chymist]

I don't know anything about City A.M. and have never heard of them before now.  Is this story being reported on any other sites (like more established ones)?  The bottom line is that I'll believe it when I see it, because I've been hearing about Amazon accepting bitcoin for years now, and it just never seems to happen.

That's not to say it wouldn't be a good thing if Amazon did finally start taking crypto for payments, because it would.  It'd be a great thing, in fact.  I'm just weary of all the rumors and speculation I've been reading for a long time now--and I'm skeptical of this article as well.

“When all these crypto ducks are lined up, there’s another twist to push things even further into Amazon’s favour – a native token,” the insider explained.

“This then becomes a multi-level infrastructure where you can pay for goods and services or earn tokens in a loyalty scheme.

It would be so nice if this Amazon insider had a name and didn't have to "leak" this story anonymously (though I'm sure if this actually is coming from an Amazon insider, she was told to leak it).  It gives Amazon too much leeway with their decision, since they can always deny a story like this if they decide they want nothing to do with bitcoin, BCH, ETH, or their own token.

And if they want to implement a loyalty program, Amazon doesn't need its own token to do it with.  Nobody needs one to serve that function.  They could simply have a points system, whereby you earn points worth a certain amount of money toward your next purchase.  Why complicate the situation with a token?

[pealr12]

Wow! This is most certainly a big news indeed, Amazon is a giant online store with millions of subscribers all over the world, btc lovers will be thrilled with this very important piece of information, the ability to be able to use btc to shop in one of the biggest online store in the world would be a great advancement,  am also happy to hear this because I know directly or indirectly this will affect the price of btc in the long run, let the good news keeps rolling in. 

[Stalker22]

This is certainly good news that will, hopefully, increase Bitcoin adoption.
One thing, though, it would be nice if someone would let Mr. Bazos know in advance that Bitcoin consumes a lot of electricity derived from fossil fuels ... so there won't be any awkward moments later. 

[Renampun]

...

if this news is true then the prediction of Bitcoin will be $100k will be true...

Bitcoin's appeal cannot be denied, many large companies will adopt it. we just have to wait when apple will join the party, it will definitely be one of the hottest news.

[Charles-Tim]

I don't know anything about City A.M. and have never heard of them before now.  Is this story being reported on any other sites (like more established ones)?

I originally read the news on Cointelegraph, but it was linked to City A.M
https://cointelegraph.com/news/amazon-plans-to-accept-bitcoin-payments-this-year-claims-insider

Why complicate the situation with a token?

I think so exactly, but I do not know why, your idea is great, but many established companies also wish to create their own token which will most likely be the reason.

[The Sceptical Chymist]

Why complicate the situation with a token?

I think so exactly, but I do not know why, your idea is great, but many established companies also wish to create their own token which will most likely be the reason.

Given how spectacular of a failure Libra was for Facebook (it did fail, right?), you'd think that companies wouldn't even be considering launching their proprietary token, even if it's just for a rewards program.  And while Amazon starting to accept bitcoin as payment would be a great thing, I'm not at all excited about them creating some kind of Amazon coin which would no doubt only be limited to use on their site.  

I did see a Youtube video pop up in my "related videos" list a few minutes ago which talked about this news, so I'm assuming this Amazon insider did in fact say what the article claimed she did.  Now we'll just have to see if Amazon follow through.

if this news is true then the prediction of Bitcoin will be $100k will be true...

Not necessarily.  People aren't clamoring to spend their bitcoin, even if it's on a site as popular as Amazon, nor would it mean bitcoin is going to explode in price.

[paxmao]

I don't know anything about City A.M. and have never heard of them before now.  Is this story being reported on any other sites (like more established ones)?  The bottom line is that I'll believe it when I see it, because I've been hearing about Amazon accepting bitcoin for years now, and it just never seems to happen.

...

It is a London free newspaper mostly targeting the guys at Canary and The City. It contains a mixture of economic and local companies news and is reasonably credible. I am not sure about this news precisely, but my take is that a maybe is not really a news is just a maybe... The problem is that many serious outlets are starting to provide the maybe news because they work wonderfully for the click baiting business. Anyway, let´s hope that in this case they got it right.

Why complicate the situation with a token?

I think so exactly, but I do not know why, your idea is great, but many established companies also wish to create their own token which will most likely be the reason.

Given how spectacular of a failure Libra was for Facebook (it did fail, right?),...

...

,,,

Facebook does many things. Libra was just another but rather than a fail I would say that they did not go ahead probably due to legal and regulatory concerns.

[Viscore]

...

if this news is true then the prediction of Bitcoin will be $100k will be true...

Bitcoin's appeal cannot be denied, many large companies will adopt it. we just have to wait when apple will join the party, it will definitely be one of the hottest news.

There are still great things to happen for bitcoin before this year ends and one of these is that Amazon is ready to accept bitcoin as a payment system. This is not surprising because we will expect great things coming since big instutions came to adopt bitcoin and for this, they tend to follow every now and then.

However, Amazon is a very big company so its effect to the crypto market is definitely a huge one too. With this, if things keep coming positively for bitcoin, then bull run will be very possible reaching its new heights into $100k hopefully.

[Charles-Tim]

Facebook does many things. Libra was just another but rather than a fail I would say that they did not go ahead probably due to legal and regulatory concerns.

I think it has reasons why Facebook was not given approval to create its own token. Also, Telegram tried to create one but failed. Why would a single platform want to create a centralized token of its own? Why did Facebook not just go for a decentralized coin or token. Or, probably when digital Dollar is created, it can support it, but it would have been better if decentralized coin like bitcoin is Facebook native currency which indicates freedom. I do not know much about the Facebook token, but I remembered Visa, MasterCard and many other payment processing companies backed off in supporting the project when they all knew the Facebook token may be detrimental than helpful, I remembered a well reputed person calling it wolf in sheep's cloth on crypto news last year. It will be a means people will be shifting away from making use of bank to making use of social platform token as a means of payment, I think that is the reason it remained a failed project, but I may not be totally right.

[Clavulanic]

This is another good news as Bitcoin adoption is increasing year after year, there has never been a direct means to use Bitcoin as payment on Amazon, but there will be changes even before the end of the year. Amazon is already planning to add Bitcoin to its payment method, it was said that the directive is coming from the Amazon president, Jeff Bazos.


~snip~

I just hope for positive outcomes this year and for another years to come, because good news like this could bring positive impact towards btc economy. Considering the fact that it's volatile, that doesn't come to a point that it became a big deal for bigger investors to remain stronger with their convictions on btc.

[Ziskinberg]

Well, I don't finally make a conclusion that it could give a huge push on the market price and even to encourages other big establishments to go along with them and adopt the system. It might be a success for crypto of having Amazon's support, it was really great.

Anyways, I'm going to be more positive about this. But if going to happen that they will be making their own coin just for the sake of having a company's signature, I was worried if that be the same as what happens to Facebook and Libra. It might be just a rumor, but who knows, Amazon is one of the biggest and still a growing company and certainly have the capabilities if they want to.

[janggernaut]

This reminds me with before TESLA has announced they have invested in bitcoin for $1.5billion. Few months before it happened, it was also an insider who reveal the information if TESLA has been bought the dip when bitcoin was around $30-33k until it reached $1.5billion.

And now we have another information from another insider who saying Amazon will be accept Bitcoin as payment, a good time to buy and stack bitcoin before it to the moon maybe.

[STT]

I know CityAM, I already follow them.  They are London based, that being the 'city'   This is bullish news longer term, raises utility and monetary velocity so value I presume.   Its already possible indirectly though I was tied to one specific franchise of Amazon and had to import goods because of that and pay postage so being able to skip the gift card and just use BTC would be useful to everyone.  
  Will Amazon stick with it and stay the course even if price doubles, I presume they can account for that.  The really bullish thing is if Amazon can do that then many other businesses can start to snowball into general usage we hope, whether it works out so smoothly (this year) but certainly speculatively it has to be some positive even right now.

[jinneas]

I don't know anything about City A.M. and have never heard of them before now. 

https : //en.wikipedia.org/wiki/City_A.M  You can find the source of the news here.
Amazon's acceptance of Bitcoin as a payment method may bring huge benefits, which will also affect the price trend of the Bitcoin market. People's large demand for it will make it more profitable, and the use of Bitcoin will become more and more widespread.

[Aliceooo78]

I know CityAM, I already follow them.  They are London based, that being the 'city'   This is bullish news longer term, raises utility and monetary velocity so value I presume.   Its already possible indirectly though I was tied to one specific franchise of Amazon and had to import goods because of that and pay postage so being able to skip the gift card and just use BTC would be useful to everyone.  
  Will Amazon stick with it and stay the course even if price doubles, I presume they can account for that.  The really bullish thing is if Amazon can do that then many other businesses can start to snowball into general usage we hope, whether it works out so smoothly (this year) but certainly speculatively it has to be some positive even right now.

A new position of "digital currency and blockchain product leader" appeared on Amazon's recruitment bulletin board. Since then, people have speculated that Amazon is about to enter the cryptocurrency field. According to the job description, this employee will help formulate Amazon's digital currency strategy and product roadmap. This position requires expertise in blockchain, distributed ledgers, central bank digital currencies and broader cryptocurrencies.

For the time being, we don’t have to consider the authenticity of the London business newspaper CityAM and the real source of information. It has already brought a response to market sentiment. I hope it can be realized and have more ripple effects because of the wider application scenarios of Bitcoin Everyone is looking forward to it.

Amazon may accept Bitcoin payments this year! Bitcoin soared by US$3,000 in the short-term, and it was once close to US$40,000. This is the reaction of the market and what has just happened. This actually represents an expression of attitude, rather than a post on the Bitcoin forum today asking how to judge Bitcoin. When will the price bottom out? I think it's boring. For short-term operators who have no confidence, you can leave.

[Roy Asher]

Amazon will become the largest lightning network node, and all network liquidity and routing issues will be resolved soon.

 In other words, it provides a lot of information for Amazon.

[EvieLannister]

If Amazon accepts Bitcoin as a payment method, it will definitely help bring the entire cryptocurrency into the mainstream.
Bitcoin is one of the unstable currencies.
Amazon exists or may exist in many countries/regions with unstable currencies. In the United States, the U.S. dollar is relatively favorable for daily transactions, and people will invest in Bitcoin for investment or ideological reasons. In countries where currencies are unstable or credit/banking systems charge high fees, people using Bitcoin to buy foreign goods may have a great advantage.

[Wexnident]

Hmm, It's definitely big news, comparatively much more effective compared to when Tesla announced they accepted Bitcoin, after all, A lot of people use Amazon since they are an online retailer, compared to Tesla, but I don't think the effects would be as big as when Tesla accepted Bitcoin. It's kind of like the advantage of the first ones? The reaction would relatively be stale compared to back then, but there would still be a positive reaction no doubt about that.

I can't say the same for their native token though.