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Author Topic: Why we shouldnt worry if Amazon doesnt accept btc!  (Read 3440 times)
DeboraMeeks (OP)
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August 17, 2014, 07:01:42 PM
 #1

"Amazon’s profits for its entire existence are still less than what ExxonMobil takes home every 2.5 weeks"
from http://www.investopedia.com/stock-analysis/031414/amazon-never-makes-money-no-one-cares-amzn-aapl-wag-azo.aspx
Even paypal and ebay look tiny compared to ExxonMobil or Nestle or BP. Instead of focusing on Amazon, the community should ask Exxon or Nestle or even Chevron. Thoughts?
redditnem
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August 17, 2014, 07:52:53 PM
 #2

"Amazon’s profits for its entire existence are still less than what ExxonMobil takes home every 2.5 weeks"
from http://www.investopedia.com/stock-analysis/031414/amazon-never-makes-money-no-one-cares-amzn-aapl-wag-azo.aspx
Even paypal and ebay look tiny compared to ExxonMobil or Nestle or BP. Instead of focusing on Amazon, the community should ask Exxon or Nestle or even Chevron. Thoughts?


Bitcoin payments at the pump?  You'd need a bitcoin card that was widely adopted and could be easily retro-fitted into existing gas pumps.  The first thing we need to do is get BTC off of POW before it dies over that.
fudbuster
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August 17, 2014, 08:14:26 PM
 #3

Amazon accepting BTC would be huge though! I firmly believe they will accept it before the end of the year. Ebay and Paypal I'm not so sure about.

Newegg is nice, but Amazon would be killer as I'm sure I am not the only one who makes most of their Internet purchases there.
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August 17, 2014, 08:22:50 PM
 #4

"Amazon’s profits for its entire existence are still less than what ExxonMobil takes home every 2.5 weeks"
from http://www.investopedia.com/stock-analysis/031414/amazon-never-makes-money-no-one-cares-amzn-aapl-wag-azo.aspx
Even paypal and ebay look tiny compared to ExxonMobil or Nestle or BP. Instead of focusing on Amazon, the community should ask Exxon or Nestle or even Chevron. Thoughts?


I also tend to believe it would be nice to have Amazon on board but not worried about it at the same time.  Also not underestimating the positive effect such a move could potentially have.
mercistheman
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August 17, 2014, 08:47:33 PM
 #5

It will be a long time b4 you can pay at the pump with btc... there is a very small % of convenience stores that have internet access at the pump (I did research on news, weather etc at the pump based on user preferences)... they could do something with a server inside the store but the equipment at the pump has to be military grade & weather tight.
Then there's the need for transaction speed in a high traffic environment.
pening
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August 17, 2014, 08:50:51 PM
 #6

An interesting question that for me highlights how there's too much emphasis on retail acceptance of Bitcoin.  Which doesn't matter much.  Taking bitcoin payments isn't any different to any other currency, the retailer is just offering payment through a third party provider.  When i go to a US or European site they offer the same for my £.  They dont want my £, they will have the payment processed and given in their local currency.

Really, there's not much advancement of Bitcoin until it is wanted as the currency, until it is used for direct payment of goods and services.  Until Nestle takes payment of Bitcoin for a delivery of a shipment of chocolate or baby milk; until BP takes payment of Bitcoin for a shipment of lubricants.  And then holding them and using them to pay their payments to their supply chain that use Bitcoins.

Online retailers accepting bitcoins are just exploiting a self-publicising niche market.  It generates some headline and gets a few $'00,000 through the tills that might have gone elsewhere or more likely not spent.  Theres not real economic growth as those BTC just go straight back into the currency exchange market.
Btcvilla
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August 17, 2014, 11:29:38 PM
 #7

Just buy an amazon gift card with Bitcoin for now Tongue .
halfawake
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August 18, 2014, 03:48:02 AM
 #8

Asking for Amazon to accept bitcoin is a big case of be careful what you wish for, at least any time soon, that is.  I'd wager the price needs to be 10x to 100x larger than it is now for Amazon to be able to start accepting bitcoin without having the price plummet.  At least, this assumes that Amazon does what most companies do, which is convert to fiat immediately. 

If, on the other hand, they keep their (hypothetical) bitcoin holdings in bitcoin, well then, that'd be good for us, the price would go up.  But I'd be surprised if they did this for any sizable portion of any sales they make in bitcoin.  Then again, who knows?  Amazon doesn't act like most companies.  Most companies try and develop profits off their revenue.  Amazon, on the other hand, plows the money back into their business.  So it's entirely possible that they would surprise me and hold on to a significant amount of their bitcoin holdings, far more than most retailers do.  It's impossible to know for sure what they'd do, unless of course, they start actually accepting bitcoin.  Then it'll likely be pretty clear fairly quickly which approach they decide to take.

BTC: 13kJEpqhkW5MnQhWLvum7N5v8LbTAhzeWj
SanMerryDro
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August 18, 2014, 03:55:23 AM
 #9

Because we believe that one day it will be accepted finally
Hashforfun
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August 18, 2014, 04:10:51 AM
 #10

Hmm. I like Amazon though, even though they didn't even accept Paypal.. Hope MAYBE that could change with Chevron and Exxon taking BTC.
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August 18, 2014, 04:36:18 AM
 #11

related: http://andyschroder.com/BitcoinFluidDispenser/ Wink
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August 18, 2014, 06:20:20 AM
 #12

https://blog.ethereum.org/2014/08/16/secret-sharing-erasure-coding-guide-aspiring-dropbox-decentralizer/

I think the better question is not when Amazon will start accepting btc, but when we should start shorting the stock.  Amazon and the kindle will be in competition with block chain technology and decentralized data storage.
DeboraMeeks (OP)
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August 18, 2014, 06:52:13 AM
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The thing is bitcoin would be an optional payment method for sellers, and I would guess most don't know about it or even know how to accept payments.
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August 19, 2014, 06:09:35 AM
 #14

don't worry about this soon they will accept it Cool...
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August 19, 2014, 06:30:29 AM
 #15

"Amazon’s profits for its entire existence are still less than what ExxonMobil takes home every 2.5 weeks"
from http://www.investopedia.com/stock-analysis/031414/amazon-never-makes-money-no-one-cares-amzn-aapl-wag-azo.aspx
Even paypal and ebay look tiny compared to ExxonMobil or Nestle or BP. Instead of focusing on Amazon, the community should ask Exxon or Nestle or even Chevron. Thoughts?

Amazon has huge volume and income, their profit is irrelevant.  They are the world's largest internet retailer, if BTC really is The Currency of the Internet it should clearly be accepted at the largest retailer.

Gamble at Bitcasino.io! Live Casino Action.
webbrowser
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August 19, 2014, 06:51:04 AM
 #16

Online retailers accepting bitcoins are just exploiting a self-publicising niche market.  It generates some headline and gets a few $'00,000 through the tills that might have gone elsewhere or more likely not spent.  Theres not real economic growth as those BTC just go straight back into the currency exchange market.

Any market use for bitcoins is positive. And when the retailer finds that its supplier also accepts bitcoin, it can cut one more step out of the picture.
kerafym
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August 19, 2014, 06:51:38 AM
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Big retailer like Amazon can set their own rules and invent their own coin.

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August 19, 2014, 07:56:51 AM
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Big retailer like Amazon can set their own rules and invent their own coin.

Hmm - but they did!  Not a crypto coin though.
dkblueman
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August 19, 2014, 10:57:59 AM
 #19

It will be a long time b4 you can pay at the pump with btc... there is a very small % of convenience stores that have internet access at the pump

Really? I think in the UK at least any credit card accepting device has to be connected to the internet to get authorization, and logically this would be the same anywhere. Else you could keep visiting a pump with an empty card, filling up and driving off.

BitsBitsBits
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August 19, 2014, 11:07:46 AM
 #20

Amazon accepting BTC would be huge though! I firmly believe they will accept it before the end of the year. Ebay and Paypal I'm not so sure about.

Newegg is nice, but Amazon would be killer as I'm sure I am not the only one who makes most of their Internet purchases there.

I'm pretty sure I heard Paypal already planning on implementing btc as a payment option.

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