Will Amazon accept Bitcoin? That's the rumour, is it true or fake news?
If this is true it will be huge and we'll see the price of BTC soar. Ebay are already adding Bitcoin payments through Paypal's Braintree, with Amazon too there will be nearly infinite options on how to spend your Bitcoin.
I'm not a huge fan of any of these companies, I'm suspicious of most of these tech giants and the monopolies they've formed. But every company that accepts Bitcoin gives it legitimacy, and with legitimacy comes protection from government bans.
Unfortunately the rumour is based on nothing but one guy's opinion
The rumour reported on cointelegraph.com is that Amazon may announce they are accepting Bitcoin during their October 26th earnings conference. Initially it got me exited, until following the links and reading between the lines.
The story first appeared on squawker.org and was a report based on some dude's blog (James Altucher), but he's super intelligent you guys.
https://squawker.org/technology/breaking-amazon-will-accept-bitcoin-by-october/
It's not based on any real insight, just 100% pure speculation, so I'm going to have to call clickbait. I'm not saying it won't happen, it's logical that Amazon would accept Bitcoin if Ebay are, I'm just saying that this guy doesn't have anymore of an insight than us mere plebs. To be fair to CoinTelegraph, they did use the word "unverified" in their headline, squaker.org had no such reservations, labelling the story "breaking".
Squaker, you are fake news!
The reason it's worth mentioning is that this rumour could cause a big dump of BTC if/when it doesn't happen, that and I have a low tolerance for bullshit. Anyway, here's the screencap of the blog that started this:
I think the only realistic scenario where bitcoin is adopted by Amazon is if we see some kind of partnership between Amazon and Bitpay, or some other payment processing companies that supports cryptos.
I don't think Amazon would integrate bitcoin just by itself.
I think you're right, at the very least you'd have to be verified in some way, Bitpay would be a good match.
I also think this is how altcoins will go mainstream as well. Once the big eCommerce giants start making deals with the crypto payment processors, you will start to see altcoins being used for purchases. Exciting stuff.
Yes, also lot of those altcoins are trying to do the instant payment thing with or without companies accepting cryptos. There's also crypto ecommerce apps coming (Particl).
One way or another you'll soon be able to spend them anywhere on anything, instantly.
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