Amazon's future plans

[JillianTaft]

The news of Amazon's involvement in cryptocurrency is now spreading more and more, and e-commerce giant Amazon may take action to integrate Bitcoin and other major cryptocurrencies as payment methods. If the company's strategy is realized, it may become the first major e-commerce platform in the United States to integrate cryptocurrency on its platform.

https://bitcoinist.com/amazon-targeting-bitcoin-payments-seeks-crypto-product-lead/

According to insiders, this is only the first phase of Amazon. Once they "establish a fast and secure" encrypted payment method, the second phase will start. The final stage will involve the creation and launch of Amazon's native tokens. And these Amazon officials did not respond to relevant news, everything is just speculation.
https://bitcoinist.com/amazon-to-integrate-bitcoin-payments-and-launch-its-own-token-by-2022-insider-confirms/

So Amazon will use encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

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[Poker Player]

So Amazon will use encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

Probably. It's not uncommon in companies, think of Libra for example and Facebook or what Musk and others have done. First they accept/buy Bitcoin because it is the best digital asset but they always want to create/promote another currency because they can't control Bitcoin.

I believe that the recent price increase has been influenced by this rumor. If confirmed, the recent $30K price is going to look like a bargain.

[zanezane]

If they really do plan, I do hope that it's not a discriminatory for them to sell their products much more expensive compared to just fiat also, have they released some sort of roadmap already regarding their plans of integrating cryptocurrency in their platform because people will be expecting something from them and I think it's fair that they will give them a timeline to sort of give hope and hype for their integration.

[Connor Britton]

Although not every internal source is fake. There are obvious reasons why employees who leaked information did not want to be named in news reports. It's not that this story is necessarily legal, but I won't deny a story just because it has internal sources. This is the case for about 90% of stories leaking sensitive information.

[Liamttw]

They are likely to experiment to see if they can integrate cryptocurrency into their ecosystem. They will initially adopt some common existing cryptocurrencies, but in the end they will provide incentives to users who use their tokens.
If this happens, the impact on the crypto market will be huge, and people will pay more attention to crypto after hearing about Amazon tokens.

[Snappycoco]

Oww that's probably the reason why the price action for Bitcoin today was super bullish. Furthermore, its a good news for crypto world specially that one of the biggest e-commerce company in the world is realizing the great use of cryptocurrency. This news could potentially touched those others e-commerce big or small company to think about this big step.

[crwth]

It would definitely be crazy to see an "Amazon Exchange" operating and it's kind of over-the-top since it's already a big company in another industry but if that's what it takes to make cryptocurrency, even more, attracting everybody and make sure that they know what they are doing, why not?

They are probably testing it out already if they have planned something like this. Or this could be FUD.

[southerngentuk]

The perspective here on the matter, I don't think it's something of value either. Because, as we all know, the interest of large corporations in the blockchain field is increasing. Perhaps this interest is like an inevitable part of happening, and it's all we have to wait for it to be accepted.

[Gozie51]

The final stage will involve the creation and launch of Amazon's native tokens.

You see this is just the current phenomenon where organisations lure invest to there business by introducing bitcoin and putting it at the forefront but later go back to develop a native currency that they can control and manipulate or declare the use of another cryptocurrency. Elon musk did that by trying to push bitcoin away and introduced dogecoin.

As of now though, it is going to give bitcoin a bull direction as we have already seen in the last 24 hours

[The Sceptical Chymist]

So Amazon will use encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

I seriously doubt that.  If Amazon ever creates its own token, it'll likely be something that you'd only be able to use on Amazon for purchases.  An article I read yesterday said they were thinking about making their own coin/token for the purpose of some sort of loyalty/rewards program.  If they tried to do anything else, I'm pretty sure they'd run into all the regulatory barriers Facebook did when they tried to release Libra--so if you're getting your hopes up for a coin like BNB, I'd forget about it.  You can trade BNB on other exchanges, and it has an actual monetary value outside of Binance.  That's probably not going to be the case with whatever Amazon makes for its token (if they even get that far).

But, as I also said in another thread, Amazon accepting bitcoin (and apparently with plans to accept other coins as well) is a great thing for crypto--but I don't think it's earth-shattering news and I don't think people are going to want to spend their crypto instead of fiat.  Why would you?  On the other hand, bitcoin has shot up a few thousand dollars since this "rumor" came out, and it looks like I was wrong about the impact of this news--but that's assuming the increase is, in fact, due to said news.  My guess is that it is, but who knows?

[sunsilk]

If they want to expand just as big as having an exchange, we don't know if that's an official news. Well as we see, these are still rumors until validated from any of their team.

But as seen, there are some hiring that's related to blockchain on their company and that gives the clue why the news came out about their future acceptance of bitcoin.

Whilst for their native token, we cannot be sure if it will be leading to the creation of their own exchange.

[just_Alice]

I don't think Amazon needs to attract any more people, they're already extremely popular and anyone who would’ve wanted their services uses them already.

But the idea of Bitcoin as an intermediate between fiat and their own tokens seems plausible. Many people already know Bitcoin so no one will be afraid or suspect something of such changes, and then all Amazon would need to do is to simply switch Bitcoin to their own token and make a ton of money out of it.

However, people aren’t that naive and this kind of change may not be taken well by the customers, especially if there would be no option available (e.g. choose between fiat, BTC, or Amazon token). In such a case, this could compromise trust, which is the last thing a large company like Amazon needs.

[Princejebs]

It doesn't make sense to me but might to others because they think in one direction.How and why would a company just wake up and engage in crypto and have such kind of ideas in mind.
PayPal joined and they have stared accepting Cryptocurrency but doesn't have plan of launching their own token or OP do you mean they will be going IPO just like the way Coinbase did.
Another reason why they might want to involve in crypto, perhaps they have plans of overtaking the market, one can't trust them

[JillianTaft]

Too embarrassing and shocking, this news was reported and disputed by various industry media as soon as it came out. Some websites publish such big news, quoting "Amazon insiders"...too credible. Everyone believes this! !
It is indeed a rumor.

https://cryptobriefing.com/amazon-denies-rumours-of-cryptocurrency-support/?utm_source=cryptorank&utm_medium=rss

I hope the market will improve, but it seems to have risen completely and is beginning to be affected by changes in Amazon news.

[pealr12]

Too embarrassing and shocking, this news was reported and disputed by various industry media as soon as it came out. Some websites publish such big news, quoting "Amazon insiders"...too credible. Everyone believes this! !
It is indeed a rumor.

https://cryptobriefing.com/amazon-denies-rumours-of-cryptocurrency-support/?utm_source=cryptorank&utm_medium=rss

I hope the market will improve, but it seems to have risen completely and is beginning to be affected by changes in Amazon news.

That's the big disadvantage in crypto everything is base in news, speculation and not actual interest for now, maybe in the future things may change,  any time such big news becomes a rumour with lack of clarity it is the market who suffers, many people rely heavily on news to base their investment decision in crypto, it won't be surprising when the dump will begin again if there is no atom of truth with this news.

[AhmadM]

Some websites publish such big news, quoting "Amazon insiders"...too credible. Everyone believes this! !

It was a perfect bait to be used, I guess. Not to mention the first media (CityAM) who citing claims of that nameless "amazon insider" also quite credible enough, so no wonder if some people thought it was more than just a rumor.

However being said amazon didn't against that they have an interest in crypto and still doing their own research.

[Kittygalore]

I don't think Amazon needs to attract any more people, they're already extremely popular and anyone who would’ve wanted their services uses them already.

They are popular but that doesn't mean that they are accessible because they are sometimes only available on certain countries. Also, it wouldn't hurt that they add crypto payment as an option because that's another money maker for them because some crypto including bitcoin grows in value overtime.

[Shenzou]

The crypto market has become a multi billion dollar industry, and the major cooperation like tesla and amazon are seeing this and i bet that there are a lot of others like them are considering it as well because there is a lot of profit to be made of it, whether it is by just accepting bitcoin or creating their own secure crypto payment service, either way this will lead to some huge advancement to the crypto industry and the push that we waited  for a long time.

[sapnu]

The news of Amazon's involvement in cryptocurrency is now spreading more and more, and e-commerce giant Amazon may take action to integrate Bitcoin and other major cryptocurrencies as payment methods. If the company's strategy is realized, it may become the first major e-commerce platform in the United States to integrate cryptocurrency on its platform.

https://bitcoinist.com/amazon-targeting-bitcoin-payments-seeks-crypto-product-lead/

According to insiders, this is only the first phase of Amazon. Once they "establish a fast and secure" encrypted payment method, the second phase will start. The final stage will involve the creation and launch of Amazon's native tokens. And these Amazon officials did not respond to relevant news, everything is just speculation.
https://bitcoinist.com/amazon-to-integrate-bitcoin-payments-and-launch-its-own-token-by-2022-insider-confirms/

So Amazon will use encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

There are also rumors, unfortunately, that Amazon itself stated that they are not going to involve the use of crypto with their transactions. If only it is a real thing or the probability of it happening is much higher than not, it would be a big help and make a huge impact to bitcoin and other cryptocurrency's price as well as their future. To be accepeted or regulated by a huge company like Amazon would build bitcoin's reputation to other big companies all over the world and it may also end up making crypto much more dominant than fiat in the near future.

[perryxi2]

Most of the good business models of this form of investment are profitable, they always have a new vision of the market and the needs of users. Part of BTC is now very popular and accepted by many places. If amazon doesn't accept BTC as payment, they really missed a new step in the change of technology today.

[TheNineClub]

It's always interesting to see companies that once embrace new and even fringe technologies and business models, be the ones to not be so fast to accept new ones when they get big. If Amazon does that then it could be a big thing. I'd guess a big thing for crypto but also for how business is being conducted in general.

[Yamifoud]

It's always interesting to see companies that once embrace new and even fringe technologies and business models, be the ones to not be so fast to accept new ones when they get big. If Amazon does that then it could be a big thing. I'd guess a big thing for crypto but also for how business is being conducted in general.

Well, most of us are waiting for that moment as this could help the adoption to get stronger and move fast. I know they are into list accepting Bitcoin in time, maybe it needs to fix their system first before it finally open to the community. Amazon is one of the big companies in the world and its impact is expecting to be more influential.
Anyways, there are several companies who are already adopting crypto now, I think this could help to convince others to join together and help cryptocurrency used globally.

[Oceat]

It's always interesting to see companies that once embrace new and even fringe technologies and business models, be the ones to not be so fast to accept new ones when they get big. If Amazon does that then it could be a big thing. I'd guess a big thing for crypto but also for how business is being conducted in general.

Well, most of us are waiting for that moment as this could help the adoption to get stronger and move fast. I know they are into list accepting Bitcoin in time, maybe it needs to fix their system first before it finally open to the community. Amazon is one of the big companies in the world and its impact is expecting to be more influential.
Anyways, there are several companies who are already adopting crypto now, I think this could help to convince others to join together and help cryptocurrency used globally.

This rumor are circulating everywhere but there's no official news from their team yet and some rumors says that Amazon has no plan to invest in Bitcoin, well I just read it somewhere in google. This rumor has nothing to do with the current market situation and if this is true then we just need their confirmation and the market will going to explode with fomo after that.

It surely expand and increase the adoption of Bitcoin but I don't want to get my hopes high yet since it's just a rumor and things will change anytime along the way.

[Sanugarid]

If they really do plan, I do hope that it's not a discriminatory for them to sell their products much more expensive compared to just fiat also, have they released some sort of roadmap already regarding their plans of integrating cryptocurrency in their platform because people will be expecting something from them and I think it's fair that they will give them a timeline to sort of give hope and hype for their integration.

Definitely, I get your point that they might up their price when you are buying using bitcoin or crypto but I also get their point as to why they're going to do that, they need to keep up with the volatility which is not in their favor especially if they sell something expensive unless they plan to hodl those coins that they earn through that transactions.

[fiulpro]

At the same time I do think that Amazon can take a step forth and they can also provide people with the option to recieve the payment in Bitcoins or other cryptocurrencies, this might mean that people might have more options to choose from and at the same time I do think that other major companies will follow this too.
This would mean that for Bitcoins and other cryptocurrencies there will be a roadmap already laid out which would eventually make them more acceptable and more normal as people might say. I do think we will be in for a long haul and this decision might take years to get implemented fully. I hope it's not just US but they will allow other countries as well to join in.

[el kaka22]

I know these are just rumors right now and even Amazon themselves denied any rumors of them adding bitcoin right now. However do you really doubt that one day they will not add it? Maybe not today, maybe not this year, but eventually they will definitely add it. Just think about it, everyone is starting to use it, everyone is starting to invest into it, from regular people like us to big companies like tesla they are all investing into crypto as well and bitcoin is becoming just a normal part of our lives.

We are not at a stage where it is just a niche thing for us, we are at a stage where it is a big deal for everyone and that is why I think that one day amazon will be forced to add bitcoin to make more profit. After all, what does amazon love more than anything else in the world? Making a profit and if bitcoin will add into that profit then they will do it for sure.

[ILuckyGuyI]

So Amazon will use encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

Amazon will most probably do so first. Bitcoin payment method is one of the good ways to draw people's attention. I guess there are so many people who like to pay with Bitcoin among Amazon customers. They will start with this and wait for people to have an interest in it. Then they can start doing a research for a possible Amazon token. If their research ends successfully, they will go on with it and release it. But I'm not sure about an Amazon crypto exchange. Maybe they won't go that far.

[LeGaulois]

Come on, guys!

Speculation about Amazon and Bitcoin has been going on for years. And every 2 years or so, there's this kind of news (which is true) that comes out and people immediately think Amazon is going to add BTC. But it doesn't mean anything. By the way, the job' details are very unclear and sujective.

Amazon will never integrate BTC, or at least it will be among the last big companies to do so. Sort of a business strategy. It's like asking why Amazon never added PayPal. Guess what?

Anyway, besides that, there's not really a demand for paying in BTC. Most people are Hodlers or speculators, only a minority are trying to live the crypto life. From a business point of view, especially for a company as big as Amazon (since we're talking about it), why bother implementing something, with the work involved if afterwards nobody uses it, and it doesn't help increase sales.


Or perhaps you think people will use their local currency to bitcoins to complete their orders on Amazon? With all the fees involved (tx/fx)? Why would they bother. On Amazon you can easily pay with your CC, a voucher, a bank account, and even top up your account automatically.
At home I can even pay with voice control and Alexa.

[timerland]

Look, all corporations are expected to follow with the trend of crypto. There is absolutely nothing here.

Amazon has historically been at the forefront of technology so this doesn't surprise me one bit.

What people need to realize though is that these instances of blockhcain adoption by corporations has pretty much 0 effect on the decentralised crypto ecosystem - they are simply centralized bodies that are planning on using their own proprietary blockchain technology to achieve goals of immutability/scalability, and nothing else.

[CaptainCrapper]

The news of Amazon's involvement in cryptocurrency is now spreading more and more, and e-commerce giant Amazon may take action to integrate Bitcoin and other major cryptocurrencies as payment methods. If the company's strategy is realized, it may become the first major e-commerce platform in the United States to integrate cryptocurrency on its platform.

https://bitcoinist.com/amazon-targeting-bitcoin-payments-seeks-crypto-product-lead/

According to insiders, this is only the first phase of Amazon. Once they "establish a fast and secure" encrypted payment method, the second phase will start. The final stage will involve the creation and launch of Amazon's native tokens. And these Amazon officials did not respond to relevant news, everything is just speculation.
https://bitcoinist.com/amazon-to-integrate-bitcoin-payments-and-launch-its-own-token-by-2022-insider-confirms/

So Amazon will use the encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

When publishing this news market grows day by day for that reason this news impact a positive something.so I think If they are involved fully it can make its own exchange it's not very hard work for amazon.AT present they are selling all county their product by e-commerce so it will be very easy work if they want.

[Victorycoin]

The company planned to accept bitcoin payments for amazon blockchain and crypto payments. The job posting for the blockchain lead revealed that he would acquire domain expertise in blockchain distributed ledger central bank digital currency and cryptocurrency to drive product strategy and development amazon says it has been inspired by innovation in the cryptocurrency space and is exploring what it could be like on amazon. We believe the future will be built on new technology that enables modern, fast and cheap payments and hopefully bring that future to amazon customers as soon as possible.

[globalpain]

It's always interesting to see companies that once embrace new and even fringe technologies and business models, be the ones to not be so fast to accept new ones when they get big. If Amazon does that then it could be a big thing. I'd guess a big thing for crypto but also for how business is being conducted in general.

The number of active bitcoin users that continues to increase is certainly a promising business area, I'm sure if Amazon accepts bitcoin then Amazon's marketcap and transaction volume will increase dramatically, this is because it's easy and practical if we transact with bitcoin instead of credit cards or bank transfers.

I think it would be a good decision for Amazon if it did accept bitcoin as a payment option,
besides being able to make transactions easier, maybe it will benefit each other,
So for now, let's see what happens next

[Semar Mesem]

It's always interesting to see companies that once embrace new and even fringe technologies and business models, be the ones to not be so fast to accept new ones when they get big. If Amazon does that then it could be a big thing. I'd guess a big thing for crypto but also for how business is being conducted in general.

This will be a big step in crypto, I hope Amazon has its own crypto and trading platform so that it makes crypto shine even more, Of course this takes time but it is needed to maintain the market. Maybe the first step is that they accept crypto so that makes crypto shine even more.

[Lucius]

Anyway, besides that, there's not really a demand for paying in BTC. Most people are Hodlers or speculators, only a minority are trying to live the crypto life. From a business point of view, especially for a company as big as Amazon (since we're talking about it), why bother implementing something, with the work involved if afterwards nobody uses it, and it doesn't help increase sales.

You are absolutely right here, because in the event that Amazon receives dozens of inquiries every day about the possibility of paying with Bitcoin, perhaps this option would be available by now. It’s hard to say what percentage of people use BTC as a currency on a regular basis at all, and I think there are less than 20% of those who do, while at least 50% have never experienced paying with BTC for a good or service.

Regardless, I don't think that integrating crypto payments into their system would be complicated or too expensive, but that problems could arise between users -> customer support, because there would certainly be a lot of confused users with the questions "I sent BTC but the transaction is not confirmed more than 24 hours " or "I sent BTC, but the payment is not visible at all".

[LUCKMCFLY]

Amazon is a giant of companies worldwide, only when observing its actions are kept in a constant upward trend, therefore when evaluating the company it represents, when entering the crypto world, I think that they will have the best option to create of your own token, which is guaranteed success.

On the other hand, it is a smart move to integrate a Blockchain platform for Amazon and why not? Integrate BTC, in view that BTC continues to grow, at the time of reaching $100k, because that is the most anticipated first target, I am sure that large companies will want to have the BTC payment system and their own tokens on their platforms .
I imagine that if AMAZON creates its own token it must offer additional benefits, so that the tokens can be bought not only with fiat money but with BTC as well.

[Alisha-k]

But how about the ban on crypto in the US has it been lifted or are going to go against the governing poliicy surrounding the use of crypto currency in the states. But if the ban is lifted then I think this would be a mega boast both for the crypto industry as well as the Amazon ventures. I think it's a good time for those who are still doubting the existence of Bitcoin to come in and has a share of the next inflation

[TheGreatPython]

Amazon will never integrate BTC, or at least it will be among the last big companies to do so. Sort of a business strategy. It's like asking why Amazon never added PayPal. Guess what?

I completely get the point with PayPal but honestly, Bitcoin is not a centralized or private company that has any competition with Amazon, unlike PayPal. So, if Amazon wants or does add cryptocurrency as a payment method, it wouldn't dent their sales if not bolster them.

Anyway, besides that, there's not really a demand for paying in BTC. Most people are Hodlers or speculators, only a minority are trying to live the crypto life.

That's very true and while I would like to see more platforms accept and transact in crypto, I don't think there's much that would change. We can always cash our crypto and buy stuff directly so it's nothing more than an emotional sentiment.

[fullhdpixel]

It's always interesting to see companies that once embrace new and even fringe technologies and business models, be the ones to not be so fast to accept new ones when they get big. If Amazon does that then it could be a big thing. I'd guess a big thing for crypto but also for how business is being conducted in general.

Surely the integration of bitcoins to an e-commerce giant like Amazon will not just pump the price but literally pave the way for other merchants to follow the same path.

I am not sure if they will actually do it because there is no positive news recently. In fact, the Amazon-owned streaming site Twitch is looking to ban gambling stuff from the platform which is more focused on crypto gambling sites than the fiat ones.

Mark my words, if Amazon actually implements bitcoin payments, it would mean the price of bitcoin will at the very least reach $100k within a week.

[geegaw]

It's always interesting to see companies that once embrace new and even fringe technologies and business models, be the ones to not be so fast to accept new ones when they get big. If Amazon does that then it could be a big thing. I'd guess a big thing for crypto but also for how business is being conducted in general.

This will be a big step in crypto, I hope Amazon has its own crypto and trading platform so that it makes crypto shine even more, Of course this takes time but it is needed to maintain the market. Maybe the first step is that they accept crypto so that makes crypto shine even more.

Amazon's original heel to take the first step, it became a giant foot that crushed the bridge to crypto, more precisely, instead of opening up about rumors and stimulating people's curiosity about crypto and Amazon, they share frankly about denial and no such plan, it was indeed a shock in a few days for those who have loved the crypto community, a hand outstretched to welcome us to new space but when we gave our hand to them, they ruthlessly separated everything, compensated by just a few recruitments, it doesn't seem very realistic

[AicecreaME]

The news of Amazon's involvement in cryptocurrency is now spreading more and more, and e-commerce giant Amazon may take action to integrate Bitcoin and other major cryptocurrencies as payment methods. If the company's strategy is realized, it may become the first major e-commerce platform in the United States to integrate cryptocurrency on its platform.

https://bitcoinist.com/amazon-targeting-bitcoin-payments-seeks-crypto-product-lead/

According to insiders, this is only the first phase of Amazon. Once they "establish a fast and secure" encrypted payment method, the second phase will start. The final stage will involve the creation and launch of Amazon's native tokens. And these Amazon officials did not respond to relevant news, everything is just speculation.
https://bitcoinist.com/amazon-to-integrate-bitcoin-payments-and-launch-its-own-token-by-2022-insider-confirms/

So Amazon will use encrypted payment to attract people first, for the purpose of their own tokens in the future? Like the previous platform currency BNB, then launch the Amazon exchange?

This is great news if Amazon will really push through their plan of adopting bitcoin as one of their modes of payment alongside the existing payment methods. This will have a positive impact on the cryptocurrency community because if this will happen, the other companies and establishments may follow their steps. If ever, they will be the first e-commerce to do so and will be a role model that can be an instrument to encourage more people to enter the crypto world and use it to pay for their transactions online. This bold move of Amazon could also encourage more investors that will have a positive effect on the price of bitcoin.

I guess that's what Amazon will try to do: attract more people using their own token, in return maybe they will give some sort of incentive such as discount or prioritization to those who are using their token. Hopefully, though, there is no kind of hidden agenda up their sleeves.

[sana54210]

The company planned to accept bitcoin payments for amazon blockchain and crypto payments. The job posting for the blockchain lead revealed that he would acquire domain expertise in blockchain distributed ledger central bank digital currency and cryptocurrency to drive product strategy and development amazon says it has been inspired by innovation in the cryptocurrency space and is exploring what it could be like on amazon. We believe the future will be built on new technology that enables modern, fast and cheap payments and hopefully bring that future to amazon customers as soon as possible.

Amazon could be starting to accept bitcoin that's true, but we could be seeing something amazon is doing with blockchain as well that could be the reason why they are looking for a blockchain expert. I mean think about it, they are selling millions of stuff all around the world every single day without ever stopping, they have the biggest database requirement in the world, lucky that they have huge database servers that not only covers their needs but also one of the most used ones as well with AWS and that is a great deal for them both financially but also ease of use as well since it is their own.

However, if we end up with a blockchain version of that, it would mean that they could literally use it to get it easier, addresses attributed to products and all that, so blockchain as a database server type of idea could be the reason why they are looking into it as well.

[jrrsparkles]

It's always interesting to see companies that once embrace new and even fringe technologies and business models, be the ones to not be so fast to accept new ones when they get big. If Amazon does that then it could be a big thing. I'd guess a big thing for crypto but also for how business is being conducted in general.

This will be a big step in crypto, I hope Amazon has its own crypto and trading platform so that it makes crypto shine even more, Of course this takes time but it is needed to maintain the market. Maybe the first step is that they accept crypto so that makes crypto shine even more.

Amazon's original heel to take the first step, it became a giant foot that crushed the bridge to crypto, more precisely, instead of opening up about rumors and stimulating people's curiosity about crypto and Amazon, they share frankly about denial and no such plan, it was indeed a shock in a few days for those who have loved the crypto community, a hand outstretched to welcome us to new space but when we gave our hand to them, they ruthlessly separated everything, compensated by just a few recruitments, it doesn't seem very realistic

Its expected because they will surely face regulatory issues if they accept cryptos for payments since they are from US and where cryptos are regulated as an asset and I said about this already on few threads when this rumour came out. But they maybe launching their own token or collaborate with financial company and replace the banks space sooner.

[ljubomir821]

Amazon's plans are rumored to be colossal. I have no doubt that a giant like Amazon can make it all happen.

[Kakmakr]

I think people in the Crypto space should not get too excited about this rumor. Amazon will take one of the following options...

1. Accepting Crypto currencies via Payment processors - Simply because the regulatory framework is not in place to accept Bitcoin or any other Crypto token as a "currency" - This is just a clever way to bypass regulations and to say they still deal in Fiat currencies.

2. They will create their own token - If they get regulatory approval to accept Crypto as a currency, then they will create their own token that they can manipulate. (Full KYC Requirements and control over the development and Supply of the tokens)  

[imstillthebest]

yeah all of that are pure speculation for now but i think i understand why officials of amazons are quite it maybe that they want to shock all of us than posting regular updates as that will cut the excitement factor .
there will be no second phase if they will start the first because cryptos are already fast , secure and most all encrypted .
 they can issue their own token but i dont think this leads to creating of their own exchange .

[justdimin]

I think people in the Crypto space should not get too excited about this rumor. Amazon will take one of the following options...

1. Accepting Crypto currencies via Payment processors - Simply because the regulatory framework is not in place to accept Bitcoin or any other Crypto token as a "currency" - This is just a clever way to bypass regulations and to say they still deal in Fiat currencies.

2. They will create their own token - If they get regulatory approval to accept Crypto as a currency, then they will create their own token that they can manipulate. (Full KYC Requirements and control over the development and Supply of the tokens)

Both of those options are valid and nice options and I would gladly accept them over the ignoring it completely they are doing right now. I mean think about it, bitcoin is a thing that we all use and like, and it is growing by the day, there are more and more people who like bitcoin and will continue to like bitcoin, how could we say that bitcoin is not going to be awesome in the future? It means that there will be a day when amazon needs to do something about it, and with the blockchain engineer applications they are getting right now, it is obvious that they are working on it.

All of this comes down to the fact that one day they will do something about it, could be accepting bitcoin directly, could be creating their own amazon token, in any case it is definitely a great one and I would love to see it happen, even if it is just an "amazon token" because a 1+ trillion-dollar company starting their own token is still awesome for us.

[Cling18]

It's a wise movement and strategy for Amazon. I've heard this kind of news before but I'm hoping that they could make it happen this time. It will surely have a positive impact on the current situation of the market as well as the price of Bitcoin. Amazon is such a huge company and adoptions like this could increase the price of Bitcoin and other cryptocurrencies.

[jaysabi]

I think people in the Crypto space should not get too excited about this rumor. Amazon will take one of the following options...

1. Accepting Crypto currencies via Payment processors - Simply because the regulatory framework is not in place to accept Bitcoin or any other Crypto token as a "currency" - This is just a clever way to bypass regulations and to say they still deal in Fiat currencies.

2. They will create their own token - If they get regulatory approval to accept Crypto as a currency, then they will create their own token that they can manipulate. (Full KYC Requirements and control over the development and Supply of the tokens)  

In regards to number 2, there's no real reason to expect them to set up a KYC framework unless they can profit off of it somehow, and I just don't see a profit model there.  Lacking an economic interest in building their own KYC framework, they will either rely on a third party to handle this through an established exchange or not pursue their own token at all.  

In regards to number 1, what regulatory framework do they really need?  There's nothing stopping them currently from accepting bitcoin as a currency, the same as some other businesses currently do.  If they didn't want to deal in crypto themselves but still wanted to allow for crypto buyers to exchange with them, they could just use a third party to handle transactions and immediately convert crypto to fiat.  There is no regulatory framework required for either of these options, but it simplifies things considerably to use this last option from a bookkeeping and accounting perspective.

[AhmadM]

I think people in the Crypto space should not get too excited about this rumor. Amazon will take one of the following options...

Those are very likely the most possible options if amazon indeed has a plan to integrate crypto inside the platform, meanwhile from the last news I read it is just a rumor as you mentioned. They claimed to have an interest in crypto and plan to do their own research on it nevertheless not gonna integrate it in the near times

[jakdanyel]

There have been rumours all over the place about Amazon to start accepting Bitcoin. And finally, it can be starting to become real. After Tesla's insane amount of investment into Bitcoin, it has attracted the attention of many big companies also. And it seems like Amazon is one of them. There are around 300 million people who are Amazon users now according to a statistics. There will be huge demand for Bitcoin surely after this.

[palle11]

Amazon's plans are rumored to be colossal. I have no doubt that a giant like Amazon can make it all happen.

That Amazon has made that announcement is still pending for them to put more action to it because action is higher so that things can start growing. Although , bitcoin price is increasing and high now to fivety thousand, this may help more increase  if Amazon carry out that because it is a large institution.

[Kelvinid]

Amazon's plans are rumored to be colossal. I have no doubt that a giant like Amazon can make it all happen.

That Amazon has made that announcement is still pending for them to put more action to it because action is higher so that things can start growing. Although , bitcoin price is increasing and high now to fivety thousand, this may help more increase  if Amazon carry out that because it is a large institution.

if they truly have the interest to adopt and accept Bitcoin payments or any cryptocurrencies, they never wait that Bitcoin will reach back to another ATH but they are supposed to do it right away. But unfortunately, they just keep on talking like that they will accept soon and soon. This company is huge and I believe that they are not new to crypto but I think there is another reason why they don't pursue to adopt it aside from unstable price that they are just quite to talk about.

[Congyang]

I hope that what amazon is doing goes according to their plans. at least amazon should provide a little overview or concept to the public about the amazon coin and how the amazon coin pattern in the public so that the public can understand and support the amazon coin spectacularly. it's an interesting idea for amazon to do that, and I'm sure if the amazon roadmap can be published, amazon will quickly get the best place in the crypto market

[jaysabi]

Amazon's plans are rumored to be colossal. I have no doubt that a giant like Amazon can make it all happen.

That Amazon has made that announcement is still pending for them to put more action to it because action is higher so that things can start growing. Although , bitcoin price is increasing and high now to fivety thousand, this may help more increase  if Amazon carry out that because it is a large institution.

I hope Amazon will provide bitcoin service for payments soon, I often shop on Amazon and hope to be able to create and store bitcoins on Amazon's service so that when transactions are only internal and the fees are very cheap. I'm sure if Amazon accepts bitcoin it will certainly skyrocket and reach $100k in the current year.

I don't see Amazon accepting bitcoin as a huge needle mover for the price, and definitely not a 2x increase on an already elevated price.  It just doesn't change the thesis for owning bitcoin at all.  It's not going to generate any meaningful business for Amazon, there's nobody who currently would shop at Amazon if only they accepted bitcoin!  And people interested in bitcoin aren't interested in it as a currency, only as a store of value or get rich quick scheme.  So Amazon offers nothing for that except the perception that it's going to be a big deal for other people, which is fleeting.

[LUCKMCFLY]

I hope that what amazon is doing goes according to their plans. at least amazon should provide a little overview or concept to the public about the amazon coin and how the amazon coin pattern in the public so that the public can understand and support the amazon coin spectacularly. it's an interesting idea for amazon to do that, and I'm sure if the amazon roadmap can be published, amazon will quickly get the best place in the crypto market

Amazon has always worked thanks to the business model that they have always implemented, obviously they will want to launch their own currency or token for them to continue winning, obviously they will use BTC to exchange them for tokens, it is something normal and what every large corporation does, I think that Amazon should already be in those plans, and at any time it can launch, I also imagine that it will have multiple purchase promotions, acquisition of special memberships, the business model is very open to all these things, what remains is expect.

[eaLiTy]

~
Amazon has always worked thanks to the business model that they have always implemented, obviously they will want to launch their own currency or token for them to continue winning, obviously they will use BTC to exchange them for tokens, it is something normal and what every large corporation does,

Do we really need another coin, they can use BTCitcoin if they really wanted to accept cryptocurrency, there is no point in launching their own currency and if every corporate starts thinking like it will only create havoc to the end user as they need to purchase each of these coins that they are launching and it will not work in the long term as you will see many coins going to dust in a few years.

I think that Amazon should already be in those plans, and at any time it can launch, I also imagine that it will have multiple purchase promotions, acquisition of special memberships, the business model is very open to all these things, what remains is expect.

Amazon can give any number of promotions to promote anything as they have huge funds, but once that stops people will stop using their coins or tokens whatever they might be launching. So basically i do not want to see them launch yet another coin but they just need to accept which are available in the market.

[paxmao]

Amazon´s strategy is pretty much a long term view on almost anything. They do not mind spending money to create the conditions of success in 5 years. They act quite differently from other companies, for example Facebook launches many new ideas and does it for short time spans and for just a test public. They find out what works by testing the public and sometimes they make mistakes. Of Amazon, I can say that they rarely make a mistake and they seem to have a better initial information on their initiatives.

[dimox]

yeah, basic strategy is always same. traffic is what big company want, when it happen than just step to the other plans. it can be good move for them if they have solid power.

I hope Amazon will provide bitcoin service for payments soon, I often shop on Amazon and hope to be able to create and store bitcoins on Amazon's service so that when transactions are only internal and the fees are very cheap. I'm sure if Amazon accepts bitcoin it will certainly skyrocket and reach $100k in the current year.

its better if it happen, they provide bitcoin payment. people who already have it, will directly pay without chnage their coin, make it easy and useful for Amazon fans