Amazon will accept Bitcoin payment this year

[tyz]

It must be a fake. Amazon announced today that they will not accept Bitcoin. Even if they were working on Bitcoin integration, they wouldn't deny it so vehemently. The bitcoin price has also already reacted and has lost over 10% from its interim highs yesterday. It's just always amazing how unconfirmed rumors, can trigger such a price increase.

Their statement can be interpreted in multiple ways:

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true”

Here they are talking about "specific plans". IMO, they are just saying that the news that Amazon will start accepting from end of 2021 is not true, and they don't have a fixed timeline for this. And they also stated that they have some "interest in the space". It is not all gloomy, in my opinion. They are working on something related to cryptocurrency and we don't know the exact details.

Well, their statement includes that they are still working on introducing a stable coin by next year. I think that's what they mean by support for cryptocurrencies. They will not support Bitcoin directly, if only for regulatory reasons. That's why they are focusing on their own stable coin which will certainly be regulated and therefore accepted without any problems. However, this stable coin will have nothing in common with the advantages of Bitcoin.

[arallmuus]

-snip

It's certainly possible that some people don't like using credit cards and are uncomfortable with banks knowing all about their spending habits.

It still doesnt mean after Amazon implemented bitcoin in their payment system, someone would be purchasing bitcoin just to checkout their cart. Its far easier to use amazon gift card rather than bitcoin if you are uncomfortable with using your credit cards for some reason. Well the market reacted those news in a positive way although its kinda looks like a short squeeze to me

Well, their statement includes that they are still working on introducing a stable coin by next year.

I honestly have no clue on why they need to create this. They can simply go with point system type of payment or some sort which is far easier comparing to create another 'stable coin' just to be used on Amazon

[cheezcarls]

For me, this is one big reason why Bitcoin suddenly jumped from the previous consolidation range of $30k to $32k and now between $39k to $40k. It’s a good decision by Amazon to embrace Bitcoin in open arms, because they’ve finally been enlightened on how BTC payments would help boost not only their giant e-commerce platform, but also the adoption and awareness to its consumers.

[btc78]

Even if Amazon accept bitcoin payment, it doesnt mean the rest of the world will eventually purchase bitcoin just to use it to pay their amazon's shopping cart. You could always use cash to pay so why bother with using bitcoin to pay your cart

It's certainly possible that some people don't like using credit cards and are uncomfortable with banks knowing all about their spending habits. This is probably one of the reasons cash is still so popular.
Btw, stealing money from someone's credit card online is a lot easier than through crypto, but that's a different story.

count me on that, i hate using credit cards . I use that in time years ago but after experiencing hacking ? i submit back my credit card and never tried using since then.

and know what? this  helps me become more reliable person because i need not to have credit at a time and  make a budgeting out of my funds available.

Hope that amazon will really consider this finally because i can't wait to make my first purchase using my precious bitcoin.

[tyz]

For me, this is one big reason why Bitcoin suddenly jumped from the previous consolidation range of $30k to $32k and now between $39k to $40k. It’s a good decision by Amazon to embrace Bitcoin in open arms, because they’ve finally been enlightened on how BTC payments would help boost not only their giant e-commerce platform, but also the adoption and awareness to its consumers.

Reading through the thread would sometimes make sense before posting here. Then you would have realized that Amazon already denied that they will not add Bitcoin as a payment option soon. It was a small English newspaper which brought this rumor to the surface. And it obviously was a hoax. However, Amazon confirmed that they are still working on their own "stable coin" which they will integrate and accept in the upcoming year.

[AicecreaME]

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.

Bitcoin adoption is certainly a good thing in the cryptocurrency community. Hence, this kind of news is a breath of fresh air. I already read several posts regarding bitcoin adoption as one of the modes of payment by Amazon later this year and it's really exciting to see what the market would be after this becomes official. I think bitcoin's price will be positively affected if ever there will be more investors that will be encouraged to invest more and enter crypto the moment the official release of bitcoin as a MOP in Amazon took place.

Bitcoin users will definitely be glad as well because this will benefit our community. The more investors there will be, the more our community will be at advantage. This will also serve as great news to the bitcoin users that want to transat using their btc in online shopping. This way, they have an alternative if ever they ran out of cash in their e-wallets or bank accounts.

[Taskford]

For me, this is one big reason why Bitcoin suddenly jumped from the previous consolidation range of $30k to $32k and now between $39k to $40k. It’s a good decision by Amazon to embrace Bitcoin in open arms, because they’ve finally been enlightened on how BTC payments would help boost not only their giant e-commerce platform, but also the adoption and awareness to its consumers.

Reading through the thread would sometimes make sense before posting here. Then you would have realized that Amazon already denied that they will not add Bitcoin as a payment option soon. It was a small English newspaper which brought this rumor to the surface. And it obviously was a hoax. However, Amazon confirmed that they are still working on their own "stable coin" which they will integrate and accept in the upcoming year.

Maybe someone pays the news outlet to manipulate the people who follow bitcoin and they are successful since it cuts the dramatic downfall happen to bitcoins and now the market is in good side. I love to see that bitcoins recovers up and hopefully the next month fud will not bring bitcoim down simce I don't know what figure we can possibly reach up  if in Ghost month we will experience a bad market movements.

[dataispower]

I've already imagined this kind of news since Bezos went to the moon, it could be happening this year or early next year. Hopefully the technology will invite old people who likely use Amazon to purchase goods online and more institutional companies will start accepting Bitcoin.

[gleisson05]

No matter how lame their moves and offers will be, both Amazon and PayPal will contribute a lot to crypto mass adoption. It's big anyway.

[Findingnemo]

Is this actually a legitimate news? I don't see anything related to this but its actually a huge news which can be buzz if the Bezom himself addressed about this. Anyway if they are going to accept Bitcoin as direct payment the vision of Satoshi will be achieved to the maximum because Amazon is a place where tou can buy anything from anywhere.

[shogun47]

It must be a fake. Amazon announced today that they will not accept Bitcoin. Even if they were working on Bitcoin integration, they wouldn't deny it so vehemently. The bitcoin price has also already reacted and has lost over 10% from its interim highs yesterday. It's just always amazing how unconfirmed rumors, can trigger such a price increase.

Their statement can be interpreted in multiple ways:

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true”

Here they are talking about "specific plans". IMO, they are just saying that the news that Amazon will start accepting from end of 2021 is not true, and they don't have a fixed timeline for this. And they also stated that they have some "interest in the space". It is not all gloomy, in my opinion. They are working on something related to cryptocurrency and we don't know the exact details.

Yes this is how I understand it as well. The chance that Amazon is doing nothing about cryptocurrencies and blockchain technology is essentially zero. A company that combines so many sectors of future importance under one roof is definitely also not losing sight of developments surrounding Bitcoin. They certainly have a little dedicated army working on Bitcoin/blockchain related stuff in order to at least stay up to date.

[pealr12]

For me, this is one big reason why Bitcoin suddenly jumped from the previous consolidation range of $30k to $32k and now between $39k to $40k. It’s a good decision by Amazon to embrace Bitcoin in open arms, because they’ve finally been enlightened on how BTC payments would help boost not only their giant e-commerce platform, but also the adoption and awareness to its consumers.

Yeah, and some people will argue that it is not a good enough news, however they go about accepting btc in their system is good for btc, even if the news may not be real, it has generated a lot of exposure within this few days it was announced, just how PayPal slowly adopt btc, amazon will also dive in and don't want to lose out, am positive there is more to come.

[Vishnu.Reang]

Yeah, and some people will argue that it is not a good enough news, however they go about accepting btc in their system is good for btc, even if the news may not be real, it has generated a lot of exposure within this few days it was announced, just how PayPal slowly adopt btc, amazon will also dive in and don't want to lose out, am positive there is more to come.

A lot of eCommerce giants would like to accept Bitcoin, but the issue is that nowadays the authorities are becoming more and more hostile towards cryptocurrency. If anyone wants to make payment with BTC, then there will be a strict KYC requirement. Already the European Union is planning to introduce laws that would make anonymous transactions illegal. Details here:

https://bitcointalk.org/index.php?topic=5350567.0

Two things - days of low tax regimen are over, and the governments are increasing their spending to appease the sections of public who are non-productive.

[Tahsin Kabir Kollol]

I'm not exactly sure that Amazon will accept bitcoin from this year but it's definitely good news. If an organization like Amazon adopts Bitcoin, its use of Bitcoin will increase and its acceptance among general and less knowledgeable users will increase. If it is possible to transact with Amazon using Bitcoin, it will be a great success in the case of cryptocurrency and its impact on Bitcoin will be considered positive. So we hope this is real news and it is going to be implemented soon.

[DrBeer]

Another question - in addition to advertising and popularization, what benefit does Amazon see in such a step? I do not think that Bezos and Co. were altruists, and they just decided to accept payments in an asset that can sink a lot. So it can be considered a "signal" that bitcoin is doing well in the future?

PS. And another thought - such a large international company, accumulating and not throwing back into the market Bitcoins received in payment, can significantly affect the value of the asset - what do you think about this?

[Findingnemo]

Is this actually a legitimate news? I don't see anything related to this but its actually a huge news which can be buzz if the Bezom himself addressed about this. Anyway if they are going to accept Bitcoin as direct payment the vision of Satoshi will be achieved to the maximum because Amazon is a place where tou can buy anything from anywhere.

We don't know the development yet, but the question in my heart is whether Amazon uses bitcoin as a means of payment there will not be a problem with the government, where of course there must be a permit from the government where Amazon stands regarding the legitimacy of Amazon itself as a business entity. but if this news is true, of course more and more people will adopt cryptocurrency

It will create problems for amazon because governments recognized bitcoin as an asset so how amazon is going to pay the taxes if they accept it as payment and if they allow then surely lot of people will start using bitcoin then governments will start accusing of people are evading taxes.

[shogun47]

Is this actually a legitimate news? I don't see anything related to this but its actually a huge news which can be buzz if the Bezom himself addressed about this. Anyway if they are going to accept Bitcoin as direct payment the vision of Satoshi will be achieved to the maximum because Amazon is a place where tou can buy anything from anywhere.

We don't know the development yet, but the question in my heart is whether Amazon uses bitcoin as a means of payment there will not be a problem with the government, where of course there must be a permit from the government where Amazon stands regarding the legitimacy of Amazon itself as a business entity. but if this news is true, of course more and more people will adopt cryptocurrency

It will create problems for amazon because governments recognized bitcoin as an asset so how amazon is going to pay the taxes if they accept it as payment and if they allow then surely lot of people will start using bitcoin then governments will start accusing of people are evading taxes.

It is very likely that they won't keep most of the Bitcoin they accept as payment. Most likely they will turn it into FIAT straight away, that way they will avoid any serious complications when it comes to taxation. Anything that they decide to keep even for speculative purposes won't hurt their bottom line in anyway. In fact, if Amazon announces that they are going to accept Bitcoin, what is the likelihood that Bitcoin will dump afterwards? Medium to long-term there is a high chance that Bitcoin will benefit from being introduced as a means of payment on Amazon's platform.