>In an article Tuesday, Die Welt reported that fintech sources in Silicon Valley were echoing previous hints from investor James Altucher that the global giant could soon integrate Bitcoin as a payment option. >Altucher made the comments in a report last month, citing Thursday’s conference call as a D-Day moment for Amazon and Bitcoin. >Ahead of the call, which anyone can listen to, momentum that the rumors actually hold substance are mounting. >“Even if the Oct. 26 date is not set in stone, Bitcoin introduction should probably be expected soon,” Die Welt writes. >Upon questioning Amazon, a spokesman replied to the publication in a predictably generic fashion. >“(Amazon) opts to include new products or services only when these are useful for our customers - until that point, we do not engage in rough speculation.” >The company has faced years of lobbying and rumors of various descriptions regarding its Bitcoin relationship since competitor Overstock became a pioneering virtual currency adherent in 2013.
You know what to do with a rumor, it's not even a hour old.
Can someone explain to me why a major company like Amazon would accept bitcoin now considering it still has a tendency to be quite volatile compared to fiat currencies?
Zachary Ortiz
Is anyone buying anything with bitcoin?
I mean sure, a couple small purchases here and there but it is entirely speculative at this point. Which makes the price nonsensical at really any valuation.
BUUUUUUUUUT, the idea is huge and will probably be a game changer in 15 years..
Alexander Scott
>a currency can now be used in the biggest retailer in the world >whiy would it pump?
Is your post ironic?
I don't know how many people would use it but I know it would have an impact on its credibility, most normies still think Bitcoin is either a ponzi or something to buy drugs on internet.
Jason Gonzalez
Paying for items with bitcoin would be a terrible idea. It's a long term investment vehicle at this point -- not a day-to-day currency.
Michael Wood
Bezos will be the first gazzilionaire
Leo Mitchell
> cause the global trend for bitcoin and crypto is UP and fiat always DOWN. fucking retard.
Wyatt Perry
BTC is just too slow and expensive to be used by big boys like Amazon. ETH has far more chance than BTC desu.
Luis Edwards
this is exactly why Amazon might want to accept Bitcoin though
Michael Perez
And why would Amazon have reason to believe that would continue into the future? More to the point what fungability would it have for them if they're the major holder/retailer of Bitcoin?
What are they going to do, sell it back to bitcoin markets so they can use Fiat to buy more bitcoin to buy more shit off Amazon?
Leo Brooks
The amount of people who'll be buying in crypto will be minimal. They're basically automating their own crypto hedge fund
Jordan Phillips
doesn't anyone see the actual problem? That amazon would factually, by accepting bitcoin, contribute to money laundering and steal hundreds of millions of tax money.
Christian Gonzalez
It doesn't hurt them in any case, the number of BTC wallets is less than 20 millions.
Carter Morris
>steal hundreds of millions of tax money.
That's what they already do with tax evasion.
Christian Williams
No, people who tax evade only prevent states from stealing their money.
Aaron Green
It's literally impossible to 'steal' something that belongs to you.
Anthony Baker
doesn't anyone see the actual problem? That amazon would factually, by accepting US dollars, contribute to money laundering and steal hundreds of millions of tax money.
Ian Clark
This. Amazon wants a trip to the moon so they can afford better developers to ditch pajeet.
Zachary Allen
If I could spend my bitcoin in amazon nothing would stop me from putting almost my full salary into bitcoin the moment I get it.
60% of the money I spend could be spent on Amazon.
Bentley Reed
I see that burgers have woken up - discussions not further possible
Gabriel Gutierrez
Amazon will use REQ as a payment gateway. You have been warned user. Wait for news.
Christian Watson
This. I wouldn't be able to resist.
William Lee
Because they could put a surcharge on it and increase gross margins.
If Bitcoin was usable on Amazon, you could literally buy most things with it with ease. It would be revolutionary.
Tyler Baker
This. Super obvious if they accept Satoshis.
Elijah Williams
You get your 4000$ salary, you buy 4000$ worth of bitcoins with it, you spend 2000 of those bitcoins during the month, but during the month bitcoin has appreciated, so instead of saving 2000 you saved 2500.
Or the current scenario:
You get your salary, you spend 2000$ and once the month ends you saved 2000$, which you put into bitcoin.
The result? Because you don't put your money straight away into bitcoin you're a victim of inflation for a month.
If big retailers accept bitcoin, nothing would stop you from putting your salary right into bitcoin the moment you get it.
Caleb Moore
BUY THE RUMOUR SELL THE NEWS
THIS SHIT IS GOING TO PUMP TODAY
BUY BUY BUY BUY
Jacob Sullivan
If it's true tomorrow, trading platforms gonna explode, literally.
Ian Young
its going to be bitcoin cash idiots not BITCOIN they are doing what overstock did
screnn cap this
Asher Cruz
>being this desesperate to shill your bag of REQ like that
I feel sad for you user.
Jose Foster
Because bitcoin payment processors like Bitpay has an option to convert the BTC to fiat at the cost of a small rate.
Josiah Gutierrez
Amazon has already enough FIAT to buy Belgium. No if they do that it's to invest.
Christian Stewart
True if huge.
Colton Stewart
really? Well I'll be damned, they can probably absorb a bitcoin crash then
>surcharge good point, they could charge ridiculous overheads
I don't see how that helps Amazon...
Colton Adams
he wants to get reqqed
Evan Russell
>Muh money laundering >Muh tax money Good goy
Jayden Rogers
GUYS GUYS GUYS
what if...
you could BUY bitcoin on Amazon. One fell swoop, they could take over the global bitcoin exchange market and become the largest bitcoin holder in the world easily.
Angel Gray
bittrex when? sounds legit senpai I'm in
Oliver Long
Same here.
>want to buy a book on amazon >logon to bittrex, make a small 1% trade >use profits to make a purchase
Jaxson Nguyen
>buying books What is this, 1960?
Daniel White
Actually, this wouldn’t make bitcoin moon at all. The price of bitcoin keeps going up because they speculate and hope it will continue to rise. Amazon accepting BTC as payments would STABILIZE the price possibly lower than it is now. For bitcoin to be used as an everyday currency it HAS to be stable otherwise it would be too much of a liability (which is why it isn’t and most likely won’t be used by Amazon).
Noah Hughes
who is selling it to them? by taking fiat (which can be rolled back by credit cards) for crypto (which cannot be rolled back at all), Amazon would be by and large taking all the liability, putting themselves at risk of fraudulent activity and would require a lot more security to ensure someone doesn't buy 100 grand worth of btc on stolen credit card and fake IDs, rolling it back, and leaving the country. It's why exchanges require multiple forms of ID. hardly anywhere will let you buy with cash or even PayPal for that reason
Jack Ross
I am saying they will just buy up and operate or re-implement the existing exchange model with full KYC/bank transfers etc. that are already in place. Amazon just bought Whole Foods, they could easily buy out and operate Gemini or Coinbase for example
Michael Clark
Yeah, millions of people putting their wages into bitcoin because now they don't need that much fiat to go by, will totally tank the price.
Where do these brainlets come from?
>For bitcoin to be used as an everyday currency it HAS to be stable
Why do you think pnd only happens on low volume shitcoins? Because Bitcoin is way too stable already. With more acceptation volatility will go down as whales become more irrelevant in the scope of the market.
Stability is not a requirement of everyday currencies in digital markets that change the prices automatically in a matter of seconds.
Jeremiah James
The best part about this isn't Amazon.. it's if they will implement it with Whole Foods which people religiously buy from.
WFM stock went from $30 to $42 when Amazon bought them.
AMZ stock went from $800 to $1000 when they bought Whole Foods.
Bitcoin would jump $1000-$2000 in price if Amazon & Whole Foods implemented them.
Lincoln Rivera
> Die Welt reported that fintech sources in Silicon Valley were echoing previous hints from investor James Altucher
So, Source A reports that Source B heard from Source C
Sounds like most Veeky Forums rumors here
Asher Ortiz
Amazon stock didn't go from $800 to $1000 after whole foods deal fag, where are you getting your numbers? There stock is actually slightly lower now
