I talked with Amazon Live Support today...

[MoonShadow]

I'm very skeptical as well. Amazon accepting Bitcoin would be huge, so huge it would steamroll the whole Bitcoin economy. Amazon must know that, if they know about Bitcoin. It's too soon.

It's not too soon for bitcoin, but Amazon may or may not be cautiously considering such a move.  Bitcoin is ready for such events, but the inclusion by Amazon or any other major player is going to introduce some major price movements again; because it won't just be one.  If Amazon does it, there are many others who will do it also in short order.

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[notme]

I'm very skeptical as well. Amazon accepting Bitcoin would be huge, so huge it would steamroll the whole Bitcoin economy. Amazon must know that, if they know about Bitcoin. It's too soon.

It's not too soon for bitcoin, but Amazon may or may not be cautiously considering such a move.  Bitcoin is ready for such events, but the inclusion by Amazon or any other major player is going to introduce some major price movements again; because it won't just be one.  If Amazon does it, there are many others who will do it also in short order.

And then we'll all be millionaire equivalents.

[DeathAndTaxes]

It's not too soon for bitcoin

IMHO it is too soon for Bitcoin.  It is unlikely Amazon shareholders would be happy with "currency risk" associated w/ Bitcoin so any integration would likely be a bitpay like internal system. 

The problem is the market doesn't have sufficient depth to handle even a tiny fraction of Amazon volume.  If Amazon needs to liquidate 10K BTC per day the market couldn't handle it. 

Someday it could.  Someday we will reach a point where 10K buy or sell doesn't even move the bid/ask but we aren't there yet. 

[BitcoinPorn]

Dollars to doughnuts that Amazon already has a crack staff that would be able to think of a way to ensure that Bitcoin's "flaws" would not effect their internal system that they create to accept and track Bitcoin.   Bitcoin's next stages of evolution may no longer take place on forums, on the Stackexchange, in mom's basement's worldwide, but behind a corporate entity that has the knowledge on what Bitcoin needs to be put into a real world situation.

I also wouldn't be surprised if some forum members and other notable Bitcoin developers start getting offers from said entities to give themselves a boost.    "Bit Pay, now sponsored by PayPal" 

[sat0pi]

It's not too soon for bitcoin

IMHO it is too soon for Bitcoin.  It is unlikely Amazon shareholders would be happy with "currency risk" associated w/ Bitcoin so any integration would likely be a bitpay like internal system. 

The problem is the market doesn't have sufficient depth to handle even a tiny fraction of Amazon volume.  If Amazon needs to liquidate 10K BTC per day the market couldn't handle it. 

Someday it could.  Someday we will reach a point where 10K buy or sell doesn't even move the bid/ask but we aren't there yet. 

But for Amazon to reach the point where they need to liquidate 10K BTC per day the economy would have to grow significantly from what it is right now in the first place meaning that they *would* probably be able to liquidate 10K BTC per day because there would be that much demand to purchase BTC.

[julz]

I'm very skeptical as well. Amazon accepting Bitcoin would be huge, so huge it would steamroll the whole Bitcoin economy. Amazon must know that, if they know about Bitcoin. It's too soon.

It's not too soon for bitcoin, but Amazon may or may not be cautiously considering such a move.  Bitcoin is ready for such events, but the inclusion by Amazon or any other major player is going to introduce some major price movements again; because it won't just be one.  If Amazon does it, there are many others who will do it also in short order.

And then we'll all be millionaire equivalents.

I sometimes wish Satoshi had set the limit to something like 21K instead of 21M -  that way 'bitcoinaire' might one day have simultaneously referred to someone holding an entire bitcoin or more and as being of great wealth.
I'm not *quite* bullish enough to hope that this century, under a 21M limit,  'bitcoinaire' could be a 'millionaire equivalent' in todays dollars

[MoonShadow]

I chatted as well, and got this...

<snip>
You are now connected to Edmond from Amazon.com.
Me:Bitcoin as a payment method?
I was wondering if Amazon had any plans to accept bitcoin as a payment method, and if so, when I can expect it?
Edmond:Hello , my name is Edmond. I'm sorry about this. I'll be glad to check that out for you.
Me:Why would you be sorry? What did you do?
Edmond:As I checked as much as I want to give you more information about the Bitcoin as payment. However, as of now there is no further notice feom our management about this but if there will be already a notice form this I'll send you already an email that we can now accept Bitcoin as a payment on Amazon.
Me:okay, thanks.
</snip>

So I'm also of the opinion that there isn't really any official position on bitcoin from Amazon, and near term adoption as a payment method is unlikely.

[BitcoinPorn]

So I'm also of the opinion that there isn't really any official position on bitcoin from Amazon, and near term adoption as a payment method is unlikely.

I don't think so either, but let's keep all these inquiries going

[BadBear]

It's not too soon for bitcoin

IMHO it is too soon for Bitcoin.  It is unlikely Amazon shareholders would be happy with "currency risk" associated w/ Bitcoin so any integration would likely be a bitpay like internal system. 

The problem is the market doesn't have sufficient depth to handle even a tiny fraction of Amazon volume.  If Amazon needs to liquidate 10K BTC per day the market couldn't handle it. 

Someday it could.  Someday we will reach a point where 10K buy or sell doesn't even move the bid/ask but we aren't there yet. 

But for Amazon to reach the point where they need to liquidate 10K BTC per day the economy would have to grow significantly from what it is right now in the first place meaning that they *would* probably be able to liquidate 10K BTC per day because there would be that much demand to purchase BTC.

Agreed, people had to buy acquire the 10k btc per day in the first place. Volume shouldn't really be a problem.  

[Phinnaeus Gage]

It's not too soon for bitcoin

IMHO it is too soon for Bitcoin.  It is unlikely Amazon shareholders would be happy with "currency risk" associated w/ Bitcoin so any integration would likely be a bitpay like internal system. 

The problem is the market doesn't have sufficient depth to handle even a tiny fraction of Amazon volume.  If Amazon needs to liquidate 10K BTC per day the market couldn't handle it. 

Someday it could.  Someday we will reach a point where 10K buy or sell doesn't even move the bid/ask but we aren't there yet. 

But for Amazon to reach the point where they need to liquidate 10K BTC per day the economy would have to grow significantly from what it is right now in the first place meaning that they *would* probably be able to liquidate 10K BTC per day because there would be that much demand to purchase BTC.

+1

It's not too soon for bitcoin

IMHO it is too soon for Bitcoin.  It is unlikely Amazon shareholders would be happy with "currency risk" associated w/ Bitcoin so any integration would likely be a bitpay like internal system. 

The problem is the market doesn't have sufficient depth to handle even a tiny fraction of Amazon volume.  If Amazon needs to liquidate 10K BTC per day the market couldn't handle it. 

Someday it could.  Someday we will reach a point where 10K buy or sell doesn't even move the bid/ask but we aren't there yet. 

But for Amazon to reach the point where they need to liquidate 10K BTC per day the economy would have to grow significantly from what it is right now in the first place meaning that they *would* probably be able to liquidate 10K BTC per day because there would be that much demand to purchase BTC.

Agreed, people had to buy acquire the 10k btc per day in the first place. Volume shouldn't really be a problem.   

+1

[DeathAndTaxes]

So I'm also of the opinion that there isn't really any official position on bitcoin from Amazon, and near term adoption as a payment method is unlikely.

I don't think so either, but let's keep all these inquiries going

It is a good idea.

In my younger days I worked in a tech support call center both as a tech and later as a manager.  (shudder - those were the dark times).

Any good call center runs daily & weekly reports using searching of call notes to spot trends.  Companies want to find out about a big issue or trend before it becomes a big issue or trend.   Can't hurt to have Bitcoin popping up on the "most active new issue" report.  Maybe someone in Amazon does a 5 minute search and is at least aware of it.

[Phinnaeus Gage]

Who is sumarjit?

Need coffee! Read it wrong.

[DeathAndTaxes]

It's not too soon for bitcoin

IMHO it is too soon for Bitcoin.  It is unlikely Amazon shareholders would be happy with "currency risk" associated w/ Bitcoin so any integration would likely be a bitpay like internal system.  

The problem is the market doesn't have sufficient depth to handle even a tiny fraction of Amazon volume.  If Amazon needs to liquidate 10K BTC per day the market couldn't handle it.  

Someday it could.  Someday we will reach a point where 10K buy or sell doesn't even move the bid/ask but we aren't there yet.  

But for Amazon to reach the point where they need to liquidate 10K BTC per day the economy would have to grow significantly from what it is right now in the first place meaning that they *would* probably be able to liquidate 10K BTC per day because there would be that much demand to purchase BTC.

Agreed, people had to buy acquire the 10k btc per day in the first place. Volume shouldn't really be a problem.  

Well that isn't completely true.  There is significant held "wealth" which is held because there is no way to liquidate that without causing dislocations in the market.  Amazon (given they sell essentially everything) would provide a "way out".  

Also even if 10K BTC bought = 10K BTC sold the market doesn't have enough depth to handle that kind of volume.  There is lag between the buy -> amazon -> sell cycle and that is going to cause increased intra-day volatility.  

I am just pointing out even IF Bitcoin is on Amazon "to do" list they will be looking for more market depth.  They likely would even test the market by buying 10K coins and selling 10K coins and seeing how the market absorbs that.  A company as smart as Amazon likely go even further and hire an outside analyst to perform market depth research over an extended period of time before exposing themselves to that volatility.

TL/DR greater market depth and liquidity increases the chance of adoption for a major player.  The good news is market depth and liquidity will continue to grow building upon itself as long as Bitcoin maintains momentum.

[MoonShadow]

It's not too soon for bitcoin

IMHO it is too soon for Bitcoin.  It is unlikely Amazon shareholders would be happy with "currency risk" associated w/ Bitcoin so any integration would likely be a bitpay like internal system. 

The problem is the market doesn't have sufficient depth to handle even a tiny fraction of Amazon volume.  If Amazon needs to liquidate 10K BTC per day the market couldn't handle it. 

Someday it could.  Someday we will reach a point where 10K buy or sell doesn't even move the bid/ask but we aren't there yet. 

Wouldn't matter in the least.  Amazon.com could sell bitcoins directly, sponsor a separate trading site, or sponsor any of the current market sites and it would instantly become the biggest player over MtGox.  And Amazon wouldn't need to move 10K per day, because it's more likely that the value of bitcoins increases to the point that a thousand per day represents values in the millions of US dollars.  All the metrics are arbitrary except to one another.

If Walmart.com starts taking bitcoin, and selling in in person at their "money services" counter, they would be bigger than Amazon in this respect in very short order; and the value would shoot for the moon.

[notme]

Who is sumarjit?

See OP

[BitcoinPorn]

My guy keeps leaving.  Brb

[BitcoinPorn]

I am very satisfied with Athul's response

[notme]

Wouldn't matter in the least.  Amazon.com could sell bitcoins directly, sponsor a separate trading site, or sponsor any of the current market sites and it would instantly become the biggest player over MtGox.  And Amazon wouldn't need to move 10K per day, because it's more likely that the value of bitcoins increases to the point that a thousand per day represents values in the millions of US dollars.  All the metrics are arbitrary except to one another.

If Walmart.com starts taking bitcoin, and selling in in person at their "money services" counter, they would be bigger than Amazon in this respect in very short order; and the value would shoot for the moon.

Bingo

[P4man]

Amazon.com could sell bitcoins directly

With paypal or credit card? That would be a laugh!

[BadBear]

It's not too soon for bitcoin

IMHO it is too soon for Bitcoin.  It is unlikely Amazon shareholders would be happy with "currency risk" associated w/ Bitcoin so any integration would likely be a bitpay like internal system.  

The problem is the market doesn't have sufficient depth to handle even a tiny fraction of Amazon volume.  If Amazon needs to liquidate 10K BTC per day the market couldn't handle it.  

Someday it could.  Someday we will reach a point where 10K buy or sell doesn't even move the bid/ask but we aren't there yet.  

But for Amazon to reach the point where they need to liquidate 10K BTC per day the economy would have to grow significantly from what it is right now in the first place meaning that they *would* probably be able to liquidate 10K BTC per day because there would be that much demand to purchase BTC.

Agreed, people had to buy acquire the 10k btc per day in the first place. Volume shouldn't really be a problem.  

Well that isn't completely true.  There is significant held "wealth" which is held because there is no way to liquidate that without causing dislocations in the market.  Amazon (given they sell essentially everything) would provide a "way out".  

Also even if 10K BTC bought = 10K BTC sold the market doesn't have enough depth to handle that kind of volume.  There is lag between the buy -> amazon -> sell cycle and that is going to cause increased intra-day volatility.  

I am just pointing out even IF Bitcoin is on Amazon "to do" list they will be looking for more market depth.  They likely would even test the market by buying 10K coins and selling 10K coins and seeing how the market absorbs that.  A company as smart as Amazon likely go even further and hire an outside analyst to perform market depth research over an extended period of time before exposing themselves to that volatility.

TL/DR greater market depth and liquidity increases the chance of adoption for a major player.  The good news is market depth and liquidity will continue to grow building upon itself as long as Bitcoin maintains momentum.

It wouldn't just be Amazon though, if they got onboard everybody would. You'd have banks begging to work with the exchanges, of which better ones would have sprung up overnight. That right there would solve the majority of the problems.