Amazon Puts Down Bitcoin Use Rumor

[ChiBitCTy]

I looked in to this and it seems like it is legitimate news.  They may not be ready to accept bitcoin and or other types of cryptocurrencies by the end of the year but it doesn't mean they won't accept it at some point after that. When I read the amazon report the other day they quoted a spokesperson for amazon saying they are indeed hiring a blockchain/programming expert for potential future use..so there is still plenty of hope for this.

[OgNasty]

They’re probably hiring someone to secure a process for storing Bitcoin so that they can add it to their balance sheet. The last thing they want is for the price to soar from everyone frontrunning their trade causing them to get less Bitcoin for their dollars. That’s likely why they were so quick to deny reports. I imagine it will be a long time before we see them implement a system to accept BTC for goods.

[NeuroticFish]

Great then. The less corporations coming in the Bitcoin world before it becoming mainstream, the better. No need for corps to join us, Bitcoin does a tremendous job all by itself.

You must understand that this is an inevitable process. Therefore, the sooner this happens, the better.

While I agree that it's (or will be) inevitable, I can't say that the sooner the better. We have to learn patience; imho whenever it happens it's good and we just cannot rush it.

In moments like this it can help the price fly again. But do we really want a new FOMO run?
And yeah, as said; even though it was proven to be just a rumor that won't come to reality in the near future, the price has started to move nevertheless.

[skybot13x]

They’re probably hiring someone to secure a process for storing Bitcoin so that they can add it to their balance sheet. The last thing they want is for the price to soar from everyone frontrunning their trade causing them to get less Bitcoin for their dollars. That’s likely why they were so quick to deny reports. I imagine it will be a long time before we see them implement a system to accept BTC for goods.

Don't you think that Amazon possesses a huge bag of Bitcoin already? Jeff Bezos could have easily said to his accountants even years ago to put a billion USD into Bitcoin. It wouldn't even have hurt them at all. I can't imagine that they literally own zero Bitcoin at this point. They could have bought 100,000 BTC like three years ago with what is pocket change for them.

[adzino]

Amazon denies it will use Bitcoin and other major cryptocurrencies by year end:
https://www.forbes.com/sites/billybambrough/2021/07/27/bitcoin-suddenly-gives-up-its-price-gains-after-amazon-shock-sending-ethereum-bnb-cardano-xrp-and-dogecoin-sharply-lower/

Also, the "new" job posting Amazon posted for a crypto expert is old news, by at least a month and a half:
https://www.financialnewsherald.com/2021/06/08/amazon-is-looking-for-a-head-of-product-in-blockchain/

It looks like there is some manipulation going on in the crypto space... Elites pulling the strings? Thoughts?

There is no manipulation going on. It's just people are trying to spread FOMO and create a hype nothing else. At least the price didn't tank once Amazon debunked the rumor. This means we are heading towards the right direction. Weak hands already sold their coins, more people buying at the discounted rate and diamond hands are still holding strong. At least the marketing is being a little interesting right now.

[ik5656]

Yes Amazon Use Bitcoin In Futher.But Not Now They deployment Own Digital Currency. But Bitcoin Always batter. Potential Bitcoin is the Great Pump for Amazon News.

[Dread Pirate Roberts]

It looks like there is some manipulation going on in the crypto space... Elites pulling the strings? Thoughts?

Also I saw the info on coinmarketcap on the blog and pinned amazon denied that claim. information that brings large companies about they will adapt bitcoin is always happening. first facebook and ebay. and now amazon . Strangely, people still easily believe in hoax news. but I think that hoax news had a good impact on the crypto market but Im not sure this is good ethics or not.

[Kasabus]

It looks like there is some manipulation going on in the crypto space... Elites pulling the strings? Thoughts?

Also I saw the info on coinmarketcap on the blog and pinned amazon denied that claim. information that brings large companies about they will adapt bitcoin is always happening. first facebook and ebay. and now amazon . Strangely, people still easily believe in hoax news. but I think that hoax news had a good impact on the crypto market but Im not sure this is good ethics or not.

This is not the first time rumors that happened in the market because crypto market has always had fake news that will affect the market. Just like big company apple buying bitcoin but still turns out a fake one.

However, instead of the people to get rid of this but surprisingly, this has made the crypto market even more firm and strong. Fake news are everywhere so people should always be resposible to make DYOR and find the truth.

[mk4]

Don't you think that Amazon possesses a huge bag of Bitcoin already? Jeff Bezos could have easily said to his accountants even years ago to put a billion USD into Bitcoin. It wouldn't even have hurt them at all. I can't imagine that they literally own zero Bitcoin at this point. They could have bought 100,000 BTC like three years ago with what is pocket change for them.

If Amazon already had bitcoin, we'd already know by now. Since Amazon is a public company(and a company with A LOT of investors), they're required to be fully transparent on what they're doing with the company's finances.

[Vishnu.Reang]

The title is slightly misleading IMO. What Amazon denied is the rumor that they will accept Bitcoin by the end of this year. They never said that Bitcoin will never be accepted by Amazon. Also, in the statement, they once again confirmed that they have an interest in cryptocurrency. More details can be found here:

https://www.aljazeera.com/economy/2021/7/27/amazons-denial-on-accepting-bitcoin-sends-it-tumbling

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” said a spokesperson from Amazon on Monday. “We remain focused on exploring what this could look like for customers shopping on Amazon.”

Now some are interpreting this as a sign that Amazon want to create their own cryptocurrency. But for me at least, that doesn't seems to be the case. Facebook tried this and failed. And I don't think that Amazon will repeat the same mistake.

[NeuroticFish]

Now some are interpreting this as a sign that Amazon want to create their own cryptocurrency. But for me at least, that doesn't seems to be the case. Facebook tried this and failed. And I don't think that Amazon will repeat the same mistake.

Facebook failed, but Circle (& Co) seem to have been doing it right. So it can be done, although there are clear differences between what Circle did and what FB wanted to do.

The question is: would such a move be in Amazon's benefit? And imho it's not really (not for now).

[dificanovi]

Amazon denies it will use Bitcoin and other major cryptocurrencies by year end:
https://www.forbes.com/sites/billybambrough/2021/07/27/bitcoin-suddenly-gives-up-its-price-gains-after-amazon-shock-sending-ethereum-bnb-cardano-xrp-and-dogecoin-sharply-lower/

Also, the "new" job posting Amazon posted for a crypto expert is old news, by at least a month and a half:
https://www.financialnewsherald.com/2021/06/08/amazon-is-looking-for-a-head-of-product-in-blockchain/

It looks like there is some manipulation going on in the crypto space... Elites pulling the strings? Thoughts?

maybe this is their goal so that the price of bitcoin becomes expensive and then they can make a profit. I am very disappointed if they really do manipulation just to increase the price and after that they will issue bad news about bitcoin so that the price of bitcoin goes down and when the price of bitcoin drops they will buy bitcoin again.

[dunfida]

Now some are interpreting this as a sign that Amazon want to create their own cryptocurrency. But for me at least, that doesn't seems to be the case. Facebook tried this and failed. And I don't think that Amazon will repeat the same mistake.

Facebook failed, but Circle (& Co) seem to have been doing it right. So it can be done, although there are clear differences between what Circle did and what FB wanted to do.

The question is: would such a move be in Amazon's benefit? And imho it's not really (not for now).

They wont really be doing things if they do saw that they cant really benefit from it unless if they would really be seeing some considerable things then they might have those changed of minds.

Rumors could really be totally denied and changed and this is why its never been ideal on making your hopes up when its still not yet confirmed by the company itself.

[Ryker1]

Amazon denies it will use Bitcoin and other major cryptocurrencies by year end:
https://www.forbes.com/sites/billybambrough/2021/07/27/bitcoin-suddenly-gives-up-its-price-gains-after-amazon-shock-sending-ethereum-bnb-cardano-xrp-and-dogecoin-sharply-lower/

Also, the "new" job posting Amazon posted for a crypto expert is old news, by at least a month and a half:
https://www.financialnewsherald.com/2021/06/08/amazon-is-looking-for-a-head-of-product-in-blockchain/

It looks like there is some manipulation going on in the crypto space... Elites pulling the strings? Thoughts?

maybe this is their goal so that the price of bitcoin becomes expensive and then they can make a profit. I am very disappointed if they really do manipulation just to increase the price and after that they will issue bad news about bitcoin so that the price of bitcoin goes down and when the price of bitcoin drops they will buy bitcoin again.

Well that is possible but as of now, --there is no drop on the bitcoin price that has happened, it looks good and fine the market price and there is no price rollback even though the rumor is not true. That was obviously a manipulation to create a massive price increase but fortunately, we saw that the market did not show a bad sign on it. It is really hard to believe in rumors since there is no official announcement we should not celebrate, besides, we don't need them, we don't need a manipulator in the market that could be a threat to bitcoin price movement someday.

[TelolettOm]

Not about manipulation and we know that sometimes, biog news from a big company will really give a big impact on something. The news at that time about Amazon accepting Bitcoin really took high interest for the new investors and also it impacts the price of Bitcoin itself. Moreover, the price of Bitcoin on that day is rising up significantly, breaking the common top resistance at that time.

Currently, the fact of accepting BTC as payment for goods in the amazon store has not been confirmed as true, because currently I have not seen the option to pay in BTC, so the news has not been confirmed to be true the truth.

There has been a clarification from Amazon spokesperson that they don't accept Bitcoin. The news was not true.
https://www.reuters.com/business/retail-consumer/amazon-denies-report-accepting-bitcoin-payment-2021-07-26/

[verita1]

Exactly! We don't need anyone to manipulate the market to make the price of bitcoin skyrocket.
But as I also believe that Amazon is rushing to offer its users to pay in bitcoin and cryptocurrencies. It's pretty obvious that as a high-innovation company to fall behind without the bitcoin revolution would be a serious mistake.

It has officially posted the job position as Digital Currency and Blockchain Product Lead.

The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap. You will leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies and Cryptocurrency to develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities. You will work closely with teams across Amazon including AWS to develop the roadmap including the customer experience, technical strategy and capabilities as well as the launch strategy.

https://www.amazon.jobs/en/jobs/1644513/digital-currency-and-blockchain-product-lead

[skybot13x]

Don't you think that Amazon possesses a huge bag of Bitcoin already? Jeff Bezos could have easily said to his accountants even years ago to put a billion USD into Bitcoin. It wouldn't even have hurt them at all. I can't imagine that they literally own zero Bitcoin at this point. They could have bought 100,000 BTC like three years ago with what is pocket change for them.

If Amazon already had bitcoin, we'd already know by now. Since Amazon is a public company(and a company with A LOT of investors), they're required to be fully transparent on what they're doing with the company's finances.

Although I am aware of the fact that they have to fulfill reporting requirements, aren't there any conceivable ways around this? What if they found an SPOV or anything like that for the specific purpose of buying cryptocurrencies. Would there be no way for them to somehow disguise cryptocurrency related activities accounting-wise? If they invest in R&D, they also don't have to explicitly name what they are doing of course or otherwise they might have to give away important strategic details. From that angle, could there be a way to hget crypto without the public noticing?

[NathanielParker]

Bitcoin will stand the test. I don't think this is a matchmaking. People are just looking forward to the actions of these big players. Few readers will notice that City AM only quoted an "insider" who said that he apparently made comments via email. Anonymous sources are the biggest scam that the media can use. Journalists can really make up their minds, and no one can hold them accountable because they just claim that they are "protecting my source." This is a joke.
When the rumors were not confirmed, the price of Bitcoin pushed to new heights and I was very surprised in retrospect. News on the market can always control people's emotions.

[Ararbermas]

It's just a rumors and as you can see there's no impact in the market, in fact these issue isn't new and it's been weeks probably when i saw this kind of news around the internet, at first i have doubts market will make a correction but see the growth rate and the performance still steady.. So this is definitely a scam.. Lol  never ever fell on this kind of false information mate..

[Kiley33]

This matter has a good effect on both Bitcoin and Amazon. However, even if Amazon does not use Bitcoin, it has no effect on Bitcoin. Bitcoin does not rely on these companies to live. Now the market is slowly calming down. This is a good phenomenon. After waiting for a while, I will look at Amazon's plans. If they deny it, it will not have any negative impact on Bitcoin. If Amazon agrees to use Bitcoin, then both will become better together.