Amazon Bitcoin Poll

[c_atlas]

If yes, expand a bit. Do you think they're going to convert some cash into BTC, or will they just accumulate by accepting btc as payment?

If no, why not? Tesla, SpaceX, Twitter, Square, Paypal, Visa, etc are all adopting, does the largest ecommerce platform not have anything to gain here? I think they're more likely to have BTC than go out of their way to build their own crypto like facebook.

[mk4]

No. Because growth companies such as Amazon need their cash ready to be used for more growth. Not saying it's impossible though, who knows what the economy would be like then. Just unlikely in my opinion.

[OgNasty]

I think they’ll definitely have BTC on their balance sheet and that will come before they accept it for payment. If I were in charge anyway the play would be simple. Add BTC to balance sheet, make announcement to accept it for goods, sell initial investment when it’s massively profitable, slowly earn your BTC back with sales.

[Chato1977]

If yes, expand a bit. Do you think they're going to convert some cash into BTC, or will they just accumulate by accepting btc as payment?

Amazon is very hesitant in accepting bitcoin for many years now , and since at last they are considering this to happen after big companies finally do the same I'm sure that they will only Accumulate Bitcoin and will not convert any of their funds to it.
Maybe for their own security .

[rikybrosh]

I think they will accumulate it for the future. Bitcoin price is not stable right now so if they do lump sump buying maybe they will loss some opportunity to buy at lower price. But if they accept btc as payment then at the same time they do dollar cost averaging that be done by their customers. I think they need to use their cash to grow their company so they can reach more customers.

[Dave1]

If by chance they are going to accept BTC as payment method in the future, they will get a third party like Bitpay or Coinbase payment to handle their bitcoins. Maybe they will convert it readily for cash or just hold on it. So it's a win-win situation for them, but it might take some time, we have heard this rumor since 2017 if I'm not mistaken and fast forward 4 years later, still remains a rumor.

[yhiaali3]

I think that Amazon is not currently thinking about buying bitcoin, most likely they will just accept bitcoin as a payment method in their largest online store on the Internet, of course through the buying and selling that will take place via bitcoin Amazon can keep some bitcoin and accumulate it for long periods as a kind of guarantee, no one knows exactly.
But this news is sure to have a huge positive impact on Bitcoin and may help pull the market out of the red.

[Kimberl2020]

But this news is sure to have a huge positive impact on Bitcoin and may help pull the market out of the red.

At the same time, it has a counterproductive effect. Amazon came out to clarify that it would not accept bitcoin as payment, and bitcoin fell accordingly.

[Coin_trader]

Yes for more promotion for Bitcoin but there will be an extreme cons about this matter, Prone for more market manipulation and tons of newbie buying Bitcoin without doing there research then post a hate speech about bitcoin because there initial money suffer some losses. But this is gonna be the goal of bitcoin to stay alive and on trend on the market, To get more exposure from top tier company with millions of user nationwide

[FinneysTrueVision]

If by chance they are going to accept BTC as payment method in the future, they will get a third party like Bitpay or Coinbase payment to handle their bitcoins. Maybe they will convert it readily for cash or just hold on it. So it's a win-win situation for them, but it might take some time, we have heard this rumor since 2017 if I'm not mistaken and fast forward 4 years later, still remains a rumor.

They currently accept Bitcoin on Twitch.tv which is owned by Amazon. I think the use BitPay as their payment processor. They would probably be open to accepting Bitcoin but they might be afraid of all the hate they will get from the environmental concern trolls.

[KennyR]

No, for a specific reason. The company has already been in the top. It keeps extending its business on all corners and on all products. So, the money generated as revenue is continuously in usage. When the same is turned to bitcoin, it might get affect due to the volatility.

Yes, for a specific reason. I don't think Amazon will have bitcoin on their balance sheet of 2022. Because, already they might've invested and keeping hold of bitcoins indirectly through some other firms for sure.

[rodskee]

If by chance they are going to accept BTC as payment method in the future, they will get a third party like Bitpay or Coinbase payment to handle their bitcoins. Maybe they will convert it readily for cash or just hold on it. So it's a win-win situation for them, but it might take some time, we have heard this rumor since 2017 if I'm not mistaken and fast forward 4 years later, still remains a rumor.

Actually the Rumor comes from 2016 before the Bullrun of 2017 yet until now it is a Rumor again.

I Voted for yes but i will believe on this when it happens already  because the longer we wait is the higher we are disappointed .

Yes for more promotion for Bitcoin but there will be an extreme cons about this matter, Prone for more market manipulation and tons of newbie buying Bitcoin without doing there research then post a hate speech about bitcoin because there initial money suffer some losses. But this is gonna be the goal of bitcoin to stay alive and on trend on the market, To get more exposure from top tier company with millions of user nationwide

Not only for promoting mate instead for all of us to benefits.

I am a Amazon user for years now and if they will accept bitcoin then that saves me lot of time.

[pooya87]

I believe that eventually Amazon, like many others, will start accepting bitcoin as payment but I don't think it can happen this soon (about 5-6 months). I think most of them aren't yet sure about enough revenue could be generated this way and may be still worried about the fees. For example take a look at the past 24 hours, as price started having a small rise we had another spike, although people are still paying low fees but the mempool size grew as big as 100 vMB.

~ than go out of their way to build their own crypto like facebook.

I agree. This will definitely not happen, not to Amazon and not to any other company. A lot of things went wrong with Facebook and the headache is not worth the effort not to mention that the product with be garbage and people won't use it as long as there is fiat and there is bitcoin.

[stompix]

For example take a look at the past 24 hours, as price started having a small rise we had another spike, although people are still paying low fees but the mempool size grew as big as 100 vMB.

Huh?
When did that happen?
https://mempool.space/graphs#24h


The previous nonfull block was 692783 and at 692827 we had another half-empty block, even if memspace is broken there is no way 44 blocks would have cleared 100 vMB of pending transactions.

[pooya87]

Huh?
When did that happen?

https://jochen-hoenicke.de/queue/#BTC,24h,weight shows this number at the peak but now that I look at it again it seems like the 100 vMB is the total which is counting fees below 1 sat/vbyte for some reason!
1 sat/vb + fees reached ~9 vMB

[crwth]

I think they are large enough to just accumulate BTC and create another fund without investing anything but the payment processor system that they need to integrate. After that, I don't think they are going to have a problem with getting BTC. I think the approach that they can do is just like what Tesla did and convert some of their liquid cash. In general, this would be a great milestone for crypto adoption.

[fuguebtc]

But this news is sure to have a huge positive impact on Bitcoin and may help pull the market out of the red.

At the same time, it has a counterproductive effect. Amazon came out to clarify that it would not accept bitcoin as payment, and bitcoin fell accordingly.

That's right. I read amazon accepting bitcoin yesterday. And today Amazon has released a statement bluntly denying multiple sources' reports that amazon is planning to accept Bitcoin payments this year. After Amazon's denial was announced, bitcoin price tends to reverse and decrease.

[Bttzed03]

I voted No mainly because of the date. I also think they will accept BTC payments eventually but it's still too soon. They are probably just waiting for more of their major clients/customers to adopt it before they start opening such service.

With regards to converting their cash to BTC, maybe they will liquidate some of their investment in other markets and transfer to BTC.

[GeorgeJohn]

Most of the influential companies don't really accept payment to something that will undergoes another process before conversion to cash, but now it seems that it's obvious that Amazon is currently accepting BTC for payment, and if these really stand effectively it will brings another shape to cryptocurrency industries, so from my views companies that purchase BTC and store for accumulation, but that shouldn't mean that they do not convert when they are in need of cash.

[slaman29]

Most of the influential companies don't really accept payment to something that will undergoes another process before conversion to cash, but now it seems that it's obvious that Amazon is currently accepting BTC for payment, and if these really stand effectively it will brings another shape to cryptocurrency industries, so from my views companies that purchase BTC and store for accumulation, but that shouldn't mean that they do not convert when they are in need of cash.

You're wrong there. All the big companies that accept Bitpay, which is probably the most used payment processor for Bitcoin (at least this is  from what I can see) do so because they want to accept Bitcoin-paying customers, but they actually do not want to accept another currency other than USD or whatever fiat it is they receive.

None of the Bitpay merchants have a Bitcoin wallet:)