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Re: Amazon accepting Bitcoin - What can go wrong?
by
Beegovere
on 17/10/2018, 09:20:11 UTC
Quote from: PaulLines on October 11, 2018, 12:32:29 PM
Quote from: reactorjuno on October 06, 2018, 03:04:34 PM
Quote from: bearexin on October 06, 2018, 11:17:08 AM
Quote from: Kprawn on November 03, 2017, 03:54:27 PM
I see a lot of people pushing for companies like Amazon to accept Bitcoin as a payment option. Have we considered the

implications of these decisions? Let's say we cannot scale to "service" the need for millions of new people who would use

this technology for the first time. What a big embarrassment would it be, if people waited 13 hours for their transactions to

be confirmed. Doing this now will hurt Bitcoin more than any other "bad" thing that has happened to it before.

We need to wait for the perfect scaling solution to address this problem, before Amazon or any other big retailer starts to

accept Bitcoin as a payment option. The Lightning Network might get us close, but it is not a proven technology yet.

Let's hear your thoughts on this?  Huh Huh
I don’t see any much disadvantages in Amazon accepting Bitcoin as a payment method except that transaction takes a few minutes and not hours like you said. If Amazon accepts Bitcoin, it will raise people’s interests and lots of people would love to try out Bitcoin and see how it works.

And by the way, the time it takes for your transaction to be confirmed depends on the fees to chose to pay; priority or regular fees. If you choose priority, your payment will be processed faster.

Well the thing is, the transaction is not instant, and yes in some cases it can take several hours if you are not willing to pay a reasonable fee. The thing is, some are not willing to pay a $5 fee if they buy a book that costs $10 (that's 33% fee).

In my opinion, Bitcoin would be more interesting and convenient to be accepted by flight companies, or car dealers, and obviously in the real estate. I very doubt Amazon will accept Bitcoin any time soon. Hope to be proved wrong of course.  
I agree that there are some issues relating to transactions but as the use of crypto increases the developers will also go into new innovations in this technology. They will provide ease to its users and will overcome these issues soon. It in the future the use of crypto will be normal and we will have many transactions platforms, then I think nobody will wait for long time for his transitions.
It is good decision and to my knowledge there is nothing wrong in it. Many other big online companies also started accepting bitcoin as their payment method. By these steps company and customers both will feel ease and comfort. In the near future we will see that local markets also accepting bitcoin and there would be no need to take cash in your pockets.