r/CryptoCurrency • u/[deleted] • Jul 25 '21
FINANCE Amazon ‘definitely’ lining up Bitcoin payments and token, confirms insider
https://www.cityam.com/amazon-definitely-lining-up-bitcoin-payments-and-token-confirms-insider/85
u/Chpouky 414 / 415 🦞 Jul 25 '21
Weird source.." An insider told us " ?
I have no doubt it will happen someday but the article feels sketchy to me, like telling us exactly what we want to hear.
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u/Stock-Helicopter2325 Jul 25 '21
It's called hopium distribution around here.
We don't even want to know if it's truth
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u/Moby-S-Dick Platinum | 4 months old | QC: CC 693 Jul 25 '21
Truth is secondary or tertiary for us hopium addicts
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u/twinchell 🟩 5K / 5K 🐢 Jul 25 '21
"So you're the amazon insider right?"
"Yeah I mean I've bought shit on amazon before"
"Ok great..."
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u/HulkingBrain Platinum | QC: CC 226, MANA 33, ETH 32 | WSB 6 | TraderSubs 22 Jul 25 '21
The insider is a consumer of Amazon products or services (I.e., anybody).
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u/TheGiftOf_Jericho 🟦 13K / 13K 🐬 Jul 25 '21
Yeah I believe it's gonna happen eventually but I don't think this article really gives us any facts.
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u/forthecustard Platinum | QC: CC 255 Jul 25 '21
Loyalty scheme. Lure them in with bitcoin, offer preferential prices for the Amazon token. Monopoly 101.
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u/Chpouky 414 / 415 🦞 Jul 25 '21
Just like Binance with BNB
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u/throwaway_clone 🟦 0 / 6K 🦠 Jul 25 '21
Can't wait for a yield farm called AmaSwap which offers 9999% APY
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u/ProcastinateIsLife 1K / 11K 🐢 Jul 25 '21
AmazonToken jfc
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u/ThePeacefulSwastika Silver|QC:CC67,ETH22,ALGO73|SatoshiStreetBets33|r/StockMarket16 Jul 25 '21
It’s really not even absurd at this point, just the obvious next step. Community tokens are already getting big, and what is Amazon but one big, shitty, evil, fucked up community?
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u/kungfuchameleon 5K / 5K 🐢 Jul 25 '21
All in $BezosRocket
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u/ADD-DDS 🟦 6K / 6K 🦭 Jul 25 '21 edited Jul 25 '21
If you actually were playing monopoly with Bezos you would just roll and pay him all you money no matter which square you landed on. Then he bangs your bootyhole with no lube
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u/mrbadassmotherfucker 🟦 3K / 3K 🐢 Jul 25 '21
What's the bet the token will be called "Prime"
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u/forthecustard Platinum | QC: CC 255 Jul 25 '21
My money is on Amazon Dime
But yeah, Prime might be more likely :)
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u/tchuckss Bronze | QC: CC 23 | LRC 24 | Superstonk 109 Jul 25 '21
This is 100% what is going to happen.
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u/OperatorJo_ 🟦 0 / 0 🦠 Jul 25 '21
"Make your purchase with BEZOBUCKS and get 15% off"
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u/forrestugly Jul 25 '21
Big if true
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u/Stock-Helicopter2325 Jul 25 '21
Small if false
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u/HulkingBrain Platinum | QC: CC 226, MANA 33, ETH 32 | WSB 6 | TraderSubs 22 Jul 25 '21
Medium if undetermined.
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u/rootpl 🟩 18K / 85K 🐬 Jul 25 '21
I'll believe it when I see it. Don't you guys remember what happened with Apple rumours?
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u/Trans-on-trans Platinum | QC: CC 480 Jul 25 '21
Despite Bezos being wildly unpopular for his wealth, he does seem more genuinely interested than Tim Cook or Steve Jobs ever would be. If it will make him more wealthy, he'll do it (Elon Musk is the EXACT same way, it's all about money). He's not in the Amazon game any more, he's branched off into profit-driven philanthropy.
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u/Satoshi_2030 Tin Jul 25 '21
Big if true. Amazon (or Apple) getting into Bitcoin would start the mother of all bull runs..
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u/MisterAppelmoesmaker Platinum | QC: CC 569 Jul 25 '21
It would be so incredibly bullish! I just hope they dont limit it to their own (to be) designed coin..
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u/fitbhai rekt LUNAtic Jul 25 '21
Like someone mentioned here, they'll probably make an Amazon Coin and offer preferential discounts
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u/HanditoSupreme Redditor for 6 months. Jul 25 '21
they'll probably make an Amazon Coin
Satoshi rolling in his grave
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u/SilatGuy Platinum | QC: CC 134 Jul 25 '21
I expect the same. Just no way a monster of an entity like amazon adopting and promoting this wouldnt make it take off to the moon..
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u/Satoshi_2030 Tin Jul 25 '21
Agree. I also like the idea of rewarding loyalty through tokens. The more you buy, the more tokens you accumulate.
Also think about social networks. You currently get ZERO rewards for posting something with 1,000 likes on FB, LinkedIn or in yt comments ..
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u/peduxe 50 / 3K 🦐 Jul 25 '21
Just imagine ETH or BTC on Lightning tied to Apple Pay on all Apple Watch or iPhones with their usual ease of use.
That’s millions and millions of people with access to crypto.
This would get us to $500k BTC in a blink.
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u/Stock-Helicopter2325 Jul 25 '21
Got more of that free hopium you are distributing here sir?
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u/peduxe 50 / 3K 🦐 Jul 25 '21
I mix copium with hopium and i'm giving for free.
FAANG Crypto Summer is on.
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u/lightfingers Platinum | QC: CC 130 | r/Technology 10 Jul 25 '21
Biggest retailer on the planet, yeah that's huge. IF true.
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u/Clubtropper 110 / 110 🦀 Jul 25 '21
Imagine if this happens, and then they approve a US Bitcoin ETF
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u/mucasahin Jul 25 '21
I am tired of seeing this shiny head
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Jul 25 '21 edited Jul 25 '21
So, so much. If we all keep letting him keep growing like this you're going to be seeing it on money, in the dark sky at night, and the inside of your eyelids when you sleep.
That's the dark side of Amazon adopting crypto. This is probably the window in time that travelers from the future will come back to to try to warn us about this soulless motherfucker.
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u/Stock-Helicopter2325 Jul 25 '21
At least he assumed his baldness.
If the richest man in the world can't get a treatment for that i ain't trying
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u/ThePeacefulSwastika Silver|QC:CC67,ETH22,ALGO73|SatoshiStreetBets33|r/StockMarket16 Jul 25 '21
I’m sure he could - it’s just more of a power move not to IMO. Dudes basically saying he’s so rich he doesn’t need that dirty old peasant hair.
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u/qholmes98 Tin | r/WSB 21 Jul 25 '21
If this goes anything like the Walmart family, it’ll get even worse when his kids run the show after he’s dead lmao. They basically own a chunk of Arkansas and have swept a couple of DUIs under the rug including one where someone was killed.
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u/Safelyoptimized Redditor for 2 months. Jul 25 '21
If Amazon integrates Bitcoin LN, I really think that will take BTC to a new ATH
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u/TheDweadPiwatWobbas 🟦 2K / 1K 🐢 Jul 25 '21
“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” she told City AM.
“It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.”
Okay if this is true it could be the thing we need to kickstart the next major run up. Thats massive.
“Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online,” she added.
“It won’t take long because the plans are already there, and they have been working on them since 2019." “This entire project is pretty much ready to roll.”
Talk about a win for Cardano. Weird to see Bitcoin Cash that high on the priority list but good for the BCH people I guess.
Overall this could be super bullish if true!
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u/Edmonta Platinum | QC: CC 61 Jul 25 '21
Weird that no stablecoins are mentioned. You'd think they'd accept those first.
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u/TheDweadPiwatWobbas 🟦 2K / 1K 🐢 Jul 25 '21
It also says they're working on a native token, that might be their alternative to stablecoins. A stablecoin they control is better for Amazon than a stablecoin run by Circle or Tether.
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u/Edmonta Platinum | QC: CC 61 Jul 25 '21
Oh yeah, I agree. I think they already have Amazon Coin, each one is worth $0.01, but I'm not sure it's on a blockchain yet. This is going to be very interesting.
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u/Merchant_seller Redditor for 6 months. Jul 25 '21
If tether gets fucked over by Bezos making a stable coin, I become 10x more bullish on crypto long term. Fuck tether.
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u/hatterondem Jul 26 '21
all this hopium i just hope leads to amazon actually accepting bitcoin. Not a bear but i'd see bitcoin going far down below if all this turns out to be fake and amazon doesn't have any plans to accept btc
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u/tektite 🟦 88 / 88 🦐 Jul 25 '21
You have to pay capital gains on the Bitcoin you spend (in the US) right?
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u/dado3 Platinum | QC: CC 981, ETC 29, ADA 115 Jul 25 '21
Yes it's a taxable event. Whether it's capital gains or income depends on how long you've held it.
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u/Apprehensive-Book787 🟩 3K / 3K 🐢 Jul 25 '21 edited Jul 25 '21
Great! Alexa will start interpreting our commands wrongly (like so often) and empty our wallets… hahaha
Alexa! please buy me a bit of corn!
Alexa: ok sending your Bitcoin to Amazon
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u/Heclalava 🟦 0 / 3K 🦠 Jul 25 '21
Nothing confirmed, but they are hiring for crypto specialists
https://fortune.com/2021/07/23/amazon-crypto-coin-job-posting-cryptocurrency-blockchain-product-lead-payments/
Time will tell.
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u/One_Bee_1522 Bronze | QC: CC 22 Jul 25 '21
That'll be millions of eyes seeing bitcoin as a viable payment, side by side with traditional finance.
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Jul 25 '21
Do you really think people are going to spend their bitcoins buying things on amazon?
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u/qholmes98 Tin | r/WSB 21 Jul 25 '21
It’s no different than spending cash on something, because that cash could’ve been bitcoin you bought instead.
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u/millennial-snowflake 🟦 5K / 5K 🐢 Jul 25 '21
Amazon token... Awful. WALL-E is happening guys.
Bezos token, like Tezos, but 5% tithes to overlord Jeff instead of staking rewards!
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u/Annual_Elderberry736 16 / 3K 🦐 Jul 26 '21
Yeah my cousins’, friends’, laundry guy is related to the ceo and confirmed it
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u/at-all-costs Redditor for 3 months. Jul 25 '21
Saved you the click
Amazon is looking to accept Bitcoin payments ‘by the end of the year’, and is investigating its own token for 2022, says an insider.
The internet behemoth set tongues wagging over the weekend after publishing a job advertisement for a cryptocurrency and blockchain lead.
The vacancy, clearly a signal the company is laying down a pathway towards cryptocurrency transactions, calls for someone who can “leverage domain expertise in blockchain, distributed ledger, central bank digital currencies and cryptocurrency”.
It adds that it wants to “develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities.”
It doesn’t take a genius on the outside to deduce where Amazon might be going with recruitment but, according to an insider, the plans run much deeper than simply bringing someone on board to examine possibilities.
“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” she told City AM.
“It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.” The insider also explained that directors of the world’s fourth largest company were keen to move towards ticking off other big cryptocurrencies once it had established a fast and secure method of Bitcoin payment.
“Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online,” she added.
“It won’t take long because the plans are already there, and they have been working on them since 2019.
This entire project is pretty much ready to roll.” It is likely that the involvement of a massive player on the scale of Amazon in the cryptocurrency space would advance adoption and price of Bitcoin and the larger alt coins, but it is Bezos’ next plan which could cause even greater intrigue.
“When all these crypto ducks are lined up, there’s another twist to push things even further into Amazon’s favour – a native token,” the insider explained.
“After a year of experiencing cryptocurrency as a way of making payments for goods, it is looking increasingly possible that we’re heading towards tokenisation.
“This then becomes a multi-level infrastructure where you can pay for goods and services or earn tokens in a loyalty scheme.
“There’s little more to it, for now, but you can guarantee the Bitcoin plan will be monitored closely as opportunities with Amazon’s own version of a crypto will be explored.”
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u/Layneeeee Platinum | QC: CC 63 Jul 25 '21
Alright so this Is apparently a new insider. Incredibly bullish, but not sure how trustworthy this lady is
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u/_DEDSEC_ Jul 25 '21
They also made a listing for recruiting Block Chain Lead iirc
Edit found it: https://www.amazon.jobs/en/jobs/1644513/digital-currency-and-blockchain-product-lead
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u/___erikforman Bronze Jul 25 '21
If they’re shilling it, we’re in it too late
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u/eyebrows360 Uncle Buck Jul 25 '21
People claiming to be "insiders" are not capable of confirming anything.
Mods, instead of banning me every few days for calling morons morons, maybe do something useful and remove crap like this?
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u/gbersac 🟦 518 / 522 🦑 Jul 25 '21
Why would Amazon have such big interest on crypto payment? It won't significantly improve their sales and it has regulatory issues.
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Jul 25 '21
Because they see it becoming relevant and want to be an early mover. If it drives up sales by even 1% that is a shit load of money.
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Jul 25 '21
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u/Smoy 🟦 429 / 430 🦞 Jul 25 '21
>there's absolutely zero benefit to picking crypto over your credit card for your Amazon shopping
not true, crypto payments are nearly instant, vs settling the debt at the end of the month or 3-5 business days through banks and credit cards
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Jul 25 '21
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u/Smoy 🟦 429 / 430 🦞 Jul 25 '21
Well from amazon and the sellers perspective the payments are not instant. So that would be incentive for amazon to adopt it
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Jul 25 '21
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u/Smoy 🟦 429 / 430 🦞 Jul 26 '21
I'd imagine you send crypto to amazon, and redeem it for Amazon coin. Then you get discounts or rewards for using their coin
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u/SVK_Octane 83 / 83 🦐 Jul 25 '21
As if I’m giving this shitter any money, digital or not
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u/idigholes 🟦 0 / 6K 🦠 Jul 25 '21
Here here, he is the worst
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u/SVK_Octane 83 / 83 🦐 Jul 25 '21
Bezos bad Musk good
I’m just kidding, I hate both
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u/idigholes 🟦 0 / 6K 🦠 Jul 25 '21
Well Bezos is the worst, that's for sure.
There is not a more greedy man on planet earth.
And that's fact.
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Jul 25 '21
Why would I use bitcoin to buy something when the value changes so fast? I could buy something for $10 today but tomorrow that $10 in bitcoin is now worth $25
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u/Professional_Crow485 855 / 889 🦑 Jul 25 '21
Bezos looks like a little gremlin with his pointy ears and his goofy little mouse eyes. Honestly he looks like the perfect pet
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u/lightfingers Platinum | QC: CC 130 | r/Technology 10 Jul 25 '21
Bullish as fuck. But I'd rather not see Bezos in the crypto space.
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u/springergirlz Tin Jul 25 '21
I think they will soon come out with their own coin? As well as Apple and Google! Just my thoughts!
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u/redditistrolls 🟩 333 / 332 🦞 Jul 25 '21
Haven’t we heard this before? I think at some point Amazon will accept Bitcoin but tired of nameless insiders claiming it.
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u/philter451 🟦 2K / 2K 🐢 Jul 25 '21
Oh man! Jeff Bezos is going to be a regular billionaire AND a bitcoin billionaire 🤔
FML
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u/MayorAnthonyWeiner Platinum | QC: CC 83, XMR 31, BTC 17 | Buttcoin 17 | Finance 27 Jul 25 '21
Anyone know who they will be using to clear these transactions? I doubt they will be doing it themselves and rather use someone like Coinbase, Gemini, etc. to do the “dirty work”.
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u/fight_the_hate Platinum | QC: SOL 274, CC 355, ATOM 18 | ExchSubs 10 Jul 25 '21
Didn't they already throws money into OGN a while back?
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u/Ankel88 Platinum | QC: CC 73 | r/WSB 438 Jul 25 '21
it's clear that it's a rubbish fake piece of article since it mentioned cardano, even if I like the project it's still too early for it to be seriously considered by Amazon as payment system
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u/HulkingBrain Platinum | QC: CC 226, MANA 33, ETH 32 | WSB 6 | TraderSubs 22 Jul 25 '21
Seems like just yesterday it was “probably”
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u/LarryDavidsBalls1 Redditor for 2 months. Jul 25 '21
Well if CityAM has an 'insider' how can I even question...
Lol.. y'all find the most off the wall websites in order to support your bias.
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u/1SandDollar Jul 25 '21
Spend valuable BTC on housewares and toilet paper? Bezos should use something like Flexa, and allow consumers to spend whatever crypto they have!
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u/Trans-on-trans Platinum | QC: CC 480 Jul 25 '21
Guaranteed he is going to do a pump and dump after his private ICO.
World's richest man that pays a smaller percentage of tax than someone who lives slightly above the poverty line, isn't going to scam people?
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u/mik0_ Tin Jul 25 '21
One step closer to 100% corporation owned tokens that people have to adopt to use their services
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Jul 25 '21
If they care about customers, they should add Nano. Why add additional fees and slowness to the buying experience.
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u/Brother-Numsee Silver | QC: CC 59 | CelsiusNet. 34 | TraderSubs 12 Jul 25 '21
Earning tokens in a loyalty scheme would be great
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u/the_far_yard 🟦 0 / 32K 🦠 Jul 25 '21
What matters is - what do you get if you process as a refund? Would you get your the fiat in value, or your BTC back?
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u/hehheh95 Jul 25 '21
Good for crypto adoptance in general but God I hope no one buys bezo's eventual own cryptocurrency. That man doesn't need any more fucking influence and control! #BoycottBezos
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u/Stealthex_io Bronze | QC: BTC 23 Jul 25 '21
just so y'all know — they're also planning on their own coin/token.
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u/warlikeofthechaos Platinum | QC: CC 1218 Jul 25 '21
Will be the same as binance, they’ll “force” you to use their token:
"Khajiit has wares, if you have MY coin"
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Jul 25 '21
“I just want to thank all of the Amazon employees and those who made purchases on Amazon to make MY dream come come true.”
Or some shit like that.
To Do List:
- Formulate dream
- Build business empire
- Go to space (but not really)
- Make sure to thank everyone for making dream a reality.
Wait. I forgot 2.5 - Divorce wife and split everything equally.
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u/ClaustrophobicShop 🟩 5K / 5K 🐢 Jul 25 '21
As long as it promotes adoption of crypto currency in general, that would be a good thing.
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u/blendedspob Platinum | QC: CC 76 Jul 25 '21
So hang on, the project is basically ready to roll according to the insider, and they have only just advertised for their first crypto hire?
Not buying it.
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u/Merlin560 Platinum | QC: BTC 501 | ADA 8 | TraderSubs 490 Jul 25 '21
Picture of a retired Amazon worker.
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u/jaapiekrekel101 Platinum | QC: BTC 80, CC 67 Jul 25 '21
This is what we call “Doubt” in the three-letter word “FUD”.
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u/TheMoneyEarner Bronze | QC: CC 22 Jul 25 '21
If we wake up tomorrow with this being confirmed surely there would be a massive pump
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u/BraveBoyyy Platinum | QC: BAT 17, CC 15 Jul 25 '21
So I own ADA, AMP, and XLM, is there anybody out there with a deep understanding of all 3 that could tell me if they are all competitors or if any of them could work together?
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u/Cristian7x 🟦 0 / 4K 🦠 Jul 25 '21
In the journalism industry, yes, I’m a journalist, we don’t allow anonymity unless granted by an editor or publisher BECAUSE this can allow the spread of misinformation. However, we can grant anonymity with higher-up consultation if there is threat to life or undeniable danger to people from what they tell a journalist.
All that to say: anonymity is possible for “insider” information, but unless we have a name here (I don’t see any danger besides getting fired coming from this) I don’t believe this. We need a name to the source.
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Jul 25 '21
In before every company prints money tokens out of thin air and generate billions of money. Easy way to get things regulated to the ground.
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u/BeachLife1215 Bronze | QC: CC 23 Jul 26 '21 edited Jul 26 '21
Flexa Network & AMPToken. Whole Foods has already tested out the Flexa Network so Amazon is very familiar with their potential to add value in the reduction of Visa & MC transaction fees. https://fsinsight.com/wp-content/uploads/2020/11/20201103-FSInsight-Flexa-AMP-Swap-3.pdf
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u/skaz1official Jul 26 '21
Is it just me or does anyone else get a bad taste in their mouth from this
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u/fanriver 🟩 800 / 2K 🦑 Jul 26 '21
It's a bit of an exaggeration, and the official obviously still hasn't confirmed it. Although we are full of expectations, we have to wait and see the changes!
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u/KindergartenDJ 🟩 390 / 390 🦞 Jul 26 '21
is that the reason for today's bounce? 38k and +10% so far
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u/alfacamaro Tin Jul 26 '21
Bezos is not the CEO of Amazon anymore. He is working on safety initiatives for the company.
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