Amazon & Bitcoins

Moderator: kyletorpey

Amazon & Bitcoins

by prats » Thu Apr 17, 2014 10:16 am

When will Amazon start accepting Bitcoins?
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Joined: Wed Apr 16, 2014 5:21 am

Re: Amazon & Bitcoins

by kyletorpey » Fri May 23, 2014 11:04 pm

Amazon recently stated that they have no plans to accept Bitcoin at this time, but that statement is not something that Bitcoin enthusiasts should worry about. The reality is that Amazon will eventually be forced to accept Bitcoin if the cryptocurrency becomes large enough. To be frank, it doesn't really make sense for the company to accept Bitcoin at this time. They have bigger priorities to deal with right now, and the Bitcoin market is simply not large enough for them to take the time to integrate Bitcoin payments into their online portal.

Having said that, it would actually be extremely beneficial for Amazon if Bitcoin became widely used. Low margin companies like Amazon actually end up giving a large chunk of their profits to credit card companies, and some people have estimated that Amazon's profits for their online store could be doubled if all transactions were going through Bitcoin.
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