Amazon Bitcoin Poll

[c_atlas]

I do not support it because I often shop online. For Amazon using Bitcoin to pay, I think the most unacceptable point is the refund, because Bitcoin is quite unstable and the price fluctuates greatly. You can buy something for $500 in one day, but you are not satisfied with it and return it for $400 (or higher) the next day because the value of Bitcoin has changed. This has brought difficulties to enterprises. This also brings a bad experience to our users.

Regardless of what you pay, you would get refunded for the price of the item.

The rumors on Amazon planning to accept Bitcoin are debunked. There are different kinds of riches, and they have different attitudes toward cryptos. Musk has been sending mixing signals but at least showing some interest for years. Jeff Bezos, on the other hand, never seemed to care, and apart from the recent craze and a couple of earlier rumor-based articles, there seems to be nothing available about Bezos and Bitcoin. So I don't think this is happening. Not yet, anyway.

I seriously doubt Bezos is indifferent towards bitcoin. His company is global, so it's very likely that he has personally dealt with the challenges of a highly disjoint legacy financial system.
Bezos understands the value of information networks, and has shown that he's capable of getting on top of core infrastructure shifts. See the electricity metaphor.

[leea-1334]

I think Amazon has everything to gain and nothing to lose if they decide to add Bitcoin to their balance sheet. But whether they're interested with that or not, I could only guess.

That is because you like Bitcoin and are not a successful business owner. The guy did not fly to space and made all his money gambling,,, he did it by becoming harsh and economically minded,,, and taking different risks.

For sure he will buy Bitcoin on his own but to ask his company to do the same? I think that would put him in the same Elon Musk hot water!

[Reid]

No. Large companies like that will have problems with the government and they don't like that idea.
Invest, yes. Used as a medium for sales, no. Not yet.
As I looked at the recent news, they were even reported as accepting Bitcoin as means of payment but they denied it solidly.
Perhaps, it will just give them more trouble than using the traditional way.

[skybot13x]

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.

Amazon has been both a growth and a value company for a while now. They aren't the 100% growth company they used to be when they poured every single penny back into growth and even took loans to accelerate growth further. Those times are over because they already saturated whole market segments all around the globe, there is hardly any room left to grow for them in some areas.

[oktana]

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.

Or what if they accept it and then treat us like PayPal did? To me,while we expect the best to come through, we must not rely on any news. Even if Amazon announced it, I'm not sure I'll fully expect it. These days, people and their companies just say things to get more attention / marketing .

[Slow death]

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

my answer is a big no

If no, why not?

this issue of high volatility and regulatory issues is one of the biggest obstacles preventing amazon from accepting bitcoin, they have their own business characteristics and besides i still haven't heard the amazon owner put at least a chance that amazon will ever be integrating bitcoin which clearly shows that if one day amazon integrates bitcoin it won't happen anytime soon, maybe it will happen in 2 or 3 years

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.

all these companies that you mentioned years ago spoke of bitcoin even if they spoke badly but they spoke it's different from amazon which has remained neutral for years and I doubt they create their own currency

[mk4]

Amazon is running out of sectors to expand its business. Recently they have been making some overpriced purchases, which makes zero economic sense. One example is the acquisition of MGM (Metro Goldwyn Mayer) studios, for $8.45 billion. It made most of the MGM movies (4,500) and TV shows (17,000) available on Amazon Prime Video. But given the fact that most of the blockbuster movies can't be immediately added (due to existing agreements), the deal looked overpriced. On top of that, there are concerns regarding anti-trust actions.

Amazon has been both a growth and a value company for a while now. They aren't the 100% growth company they used to be when they poured every single penny back into growth and even took loans to accelerate growth further. Those times are over because they already saturated whole market segments all around the globe, there is hardly any room left to grow for them in some areas.

Lol funnily enough, if you take a look at their IR reports, they are indeed still pouring back money in to reinvest. And I really don't see how we can say that "they don't have enough room to grow" even if Amazon's eCommerce arm itself has a lot more room to grow globally; and that's just the tip of the iceberg.

[Darker45]

I think Amazon has everything to gain and nothing to lose if they decide to add Bitcoin to their balance sheet. But whether they're interested with that or not, I could only guess.

That is because you like Bitcoin and are not a successful business owner. The guy did not fly to space and made all his money gambling,,, he did it by becoming harsh and economically minded,,, and taking different risks.

I'm sorry, what are you trying to point out? I cannot seem to wrap my mind around your statements. They seem to be hollow and without any basis. How did you know I'm not a successful business owner? Did Bezos become successful in his business by becoming harsh? You seem to be picking up words from nowhere.

For sure he will buy Bitcoin on his own but to ask his company to do the same? I think that would put him in the same Elon Musk hot water!

Elon is no Jeff Bezos. Amazon is no Tesla. How sure are you Bezos buys Bitcoin on his own? And Bezos does not dictate Amazon's actions and decisions. He was the founder but he doesn't have the sole say as to the company's decisions.

[skybot13x]

Amazon is running out of sectors to expand its business. Recently they have been making some overpriced purchases, which makes zero economic sense. One example is the acquisition of MGM (Metro Goldwyn Mayer) studios, for $8.45 billion. It made most of the MGM movies (4,500) and TV shows (17,000) available on Amazon Prime Video. But given the fact that most of the blockbuster movies can't be immediately added (due to existing agreements), the deal looked overpriced. On top of that, there are concerns regarding anti-trust actions.

Amazon has been both a growth and a value company for a while now. They aren't the 100% growth company they used to be when they poured every single penny back into growth and even took loans to accelerate growth further. Those times are over because they already saturated whole market segments all around the globe, there is hardly any room left to grow for them in some areas.

Lol funnily enough, if you take a look at their IR reports, they are indeed still pouring back money in to reinvest. And I really don't see how we can say that "they don't have enough room to grow" even if Amazon's eCommerce arm itself has a lot more room to grow globally; and that's just the tip of the iceberg.

That is why I said "in some areas". There are also a lot of areas where they definitely will grow, not least in the (delivery-)food segment with drones and what not. Their highly profitable segments are quite saturated. In e-commerce the most important question would be whether they ever get into a position to conquer Chinese market share. Apart from that, which geographic area do they not dominate in e-commerce? Aren't they all over the place except for China?

[mk4]

Aren't they all over the place except for China?

Amazon's eCommerce arm barely penetrated the Asian market, which is a huge market. Yes, Amazon is available on countries like India and Singapore, but their user base is quite low because of competition against platforms like Shopee and Lazada.

[leea-1334]

I'm sorry, what are you trying to point out?

Let me explain again in summary. It seems you do not understand people think different about Bitcoin.

1> You think Amazon has everything to gain from adding Bitcoin and nothing to lose. Only a Bitcoin supporter like you and like me thinks like this. Board members and shareholders who together make a successful business as big as Amazon will never think like this.

2> Yes Bezos became successful by becoming harsh. Please Google Amazon work practice but here is one sample report for you: https://www.ethicalconsumer.org/company-profile/amazoncom-inc

3> And this was my point exactly that he does not dictate Amazon,,, you misunderstood me. I said "Bezos he cannot be telling Amazon to do".

[Natalim]

Big companies like Amazon will benefit from the acceptance of bitcoin, it will give way for people that do not have a credit card to do a purchase online if they see it will increase their revenue, then they will accept bitcoin.

A big company just has to ensure that they will not have a problem with the government, especially its authorities, and I'm sure they have a lot of capable accountants who can do the job for them to manage the risk of bitcoin's volatility.

I voted yes, I'm just optimistic though.

[randegibran]

Amazon maybe at that time was still a little hesitant to accept bitcoin as a means of payment, but now those doubts are starting to disappear a bit with large companies starting to want to accept bitcoin as a legal medium of exchange for adoption in the company, and it is also possible that the Amazon company will starting to consider accepting bitcoin as a transaction tool in their company

[imstillthebest]

i dont know but my guess for now is they wont but they will only accept btc and if they have accumulated enough amount , they will sell it for cash .
some companies like you mentioned are differet like for example paypal , paypal will need to buy or convert some of thier cash to btc so that they can offer a btc to thier costumers  . if amazon has a plan of creating thier own coin they could have done that before and they will not use btc .

[verita1]

I remain optimistic as the writer of this article at Bloomberg.
It is logical that Amazon wants to know how the adaptation of the platform will occur to accept bitcoin and cryptocurrencies. So an official announcement will not occur until the incorporation works perfectly. There are those who go ahead but in this case, since it is about bitcoin, which is a very speculative asset that is managed by the crypto market, it seems that it does not like to create expectations, it is better to move towards the facts is my point of view.

Could it happen? There are plenty of reasons Amazon would want to expand into cryptocurrencies. Right now, there's more than $ 1.55 trillion held in various digital currencies, some of it just waiting to be exchanged for products.

https://www.bloomberg.com/news/newsletters/2021-07-30/amazon-has-1-55-trillion-reasons-to-start-accepting-crypto