After big name companies like Overstock, Tiger Direct, and Dell, among many others, began accepting Bitcoin, many thought Amazon’s acceptance would be just a matter of time.
And yet here we are, several months after Overstock’s groundbreaking announcement, and Amazon still has yet to embrace Bitcoin.
There is occasionally a glimmer of hope that Amazon will come on board, such as a patent they registered at the end of May 2014 with one clause which mentions “various types of digital cash, electronic money, or crypto-currency…such as Bitcoins”, and their more recent acquisition of the Bitcoin-accepting Twitch.tv platform.
But though the company has looked into Bitcoin, Amazon payment department head Tom Taylor said in April that “we don’t have any plans within Amazon to engage bitcoin.”
Do We Really Want Amazon?
The Bitcoin community has been very clear in its desire to have Amazon accept Bitcoin.
One group has formed a petition on change.org asking Amazon to begin accepting Bitcoin.
“Overall, it is a complete and necessary courtesy for Amazon.com to accept Bitcoins from their consumers,” the petition reads. “Help us.” At press time, the petition has 3,630 signatures out of its stated goal of 5,000.
What Difference Would It Make?
As the world’s largest ecommerce entity, it only makes sense that they would embrace online currency as well. Having Amazon accept Bitcoin could have a positive effect on Bitcoin’s perceived legitimacy to the outside world.
But those hoping for a price bump as a result are likely setting themselves up for disappointment.
Bitcoin’s price has been facing a downward trend recently, with a current valuation of just $380.40 for 1 BTC. And this comes amid relatively good news within the Bitcoin community, and one of the most momentous announcements from any company so far: PayPal.
Many still see Amazon’s acceptance of Bitcoin as inevitable. While that remains to be seen, many community members won’t likely stop badgering them about it until they do.
Meanwhile, the rest of us will shop at Overstock.
Does Amazon Really Matter For Bitcoin?
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