If Amazon Started A Cryptocurrency Of Its Own, Would It Surpass Bitcoin In The Future? - Updated - Quora
If Amazon started a cryptocurrency of its own, would it surpass Bitcoin in the future? I dont think Amazon will come up with its own Cryptocurrency. It would be a huge loss to the sellers in amazon and eventually to Amazon if they adopt using crypto currencies. Lets take for example Amazon comes up with AMZ (Thats a cool name), the value of this currency would be based on whos buying and whos selling. If many people buy AMZ, then the value of the AMZ increases. If Flipkart or eBay comes up with never before seen offers (which they will, if AMZ comes to existence) then many people will be swayed towards them and eventually the price would tumble. Considering this scenario, lets say you are about to buy iPhone X (Ten, not x) which cost you around 12000 AMZ today and you are planning to buy it tomorrow. But due to bearish mood in the market, the value of AMZ has fallen by 50 %, then, the value of iPhone X would be 6000 AMZ. Well this is welcoming to us, but for the seller this would be devastating. Amazon loves its sellers as much as its customers. So any damage to sellers, it would take counter actions to protect sellers interest. This would mean shelling money from its own pocket. Now if the the value increases 50% more, you would probably need 4 kidneys to buy an iPhone. So if Amazon introduces AMZ, it would not be in the current existing model. Kik is introducing its own Crypto called Kin. Eager to see how it goes. Lets say Amazon starts a cryptocurrency of its own AMZ. It can be used to buy stuff over Amazon platforms. The same AMZ can be used to buy stuff from Amazon US, Amazon Japan or Amazon India. AMZ will be very famous. AMZ would be integrated into Amazon Pay platform. AMZ is the currency people would love to use. No more waiting for bank transactions to happen Continue reading >>
Could Amazon Be Gearing Up For Cryptocurrency Exchanges?
Could Amazon Be Gearing Up for Cryptocurrency Exchanges? Amazon.com ( NASDAQ:AMZN ) may not only be gearing up to accept cryptocurriences as a means of payment, but I also believe that the company could be on its way to creating one of the worlds largest cryptocurrency exchanges in a move that would, I believe, be extremely synergistic for Amazon and would likely help them generate a substantial new revenue stream. A lot of speculation is being tossed around with regard to Amazons potential involvement incryptocurriences going forward. As bitcoin continues to make new highs, pushing over $7000 now, it is being speculated that Amazon may soon accept bitcoin as a method of payment, a move that not only would lend credibility to bitcoin but one that could also create some additional demand for bitcoin itself. It has been reported that Amazon has gone out and registered some domain names that appear to be associated with cryptocurriences.Last week, the following was reported on by CNBC : Amazon has secured three new domain names related to cryptocurrency, sparking speculation that the e-commerce giant could be preparing a move into the cryptocurrency space. However, Amazon Pays VP Patrick Gauthier told CNBC last month that Amazon had no plans to accept cryptocurrency because there hasnt been much demand yet, and Amazon may simply be protecting its brand name. The domains are: amazonethereum.com , amazoncryptocurrency.com , amazoncryptocurrencies.com . Trade publication DomainNameWire was the first to report on Amazons move. The report said Amazon registered for the domains on Tuesday. The media and financial pundits all pretty much rushed to the conclusion that Amazon may soon be accepting cryptocurrencies on its site as a method of payment. This led not only to a litany o Continue reading >>
Amazon And Bitcoin: Amazon Gets Three Cryptocurrency Domain Names
Facebook Twitter Google+ LinkedIn Pinterest Amazon gets three cryptocurrency domain names The news comes as bitcoin, the largest cryptocurrency by market cap,smashed through a new record high priceon Wednesday. A link has been posted to your Facebook feed. To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Amazon gets three cryptocurrency domain names Eugene Kim, CNBC Published 6:42 p.m. ET Nov. 1, 2017 | Updated 8:56 p.m. ET Nov. 1, 2017 Some people don't understand what Bitcoin is, but some people stand to make a fortune off the cryptocurrency. Here are the five people who stand to make a killing when they finally cash in on Bitcoin. Time Amazon registered for 3 cryptocurrency domain names. CONNECT TWEET 1680 LINKEDIN 1 COMMENTEMAILMORE Amazonhas secured three new domain names related to cryptocurrency, sparking speculation that the e-commerce giant could be preparing a move into the cryptocurrency space. However, Amazon Pay's VP Patrick Gauthier told CNBC last month that Amazon had no plans to accept cryptocurrency because there hasn't been much demand yet, and Amazon may simply be protecting its brand name. The domains are: amazonethereum.com, amazoncryptocurrency.com, amazoncryptocurrencies.com. Trade publicationDomainNameWirewas the first to report on Amazon's move. The report said Amazon registered for the domains on Tuesday. The news comes as bitcoin, the largest cryptocurrency by market cap,smashed through a new record high priceon Wednesday, reaching $6,600 for the first time, following news of CME's plan to launch bitcoin futures later this year. There have been some rumors of Amazon eventually accepting cryptocurrencies, like bitcoin, but the company has never acknowledged these plans. Just last month, another unfoun Continue reading >>
Could Amazon Be Launching Its Own Cryptocurrency?
Could Amazon Be Launching Its Own Cryptocurrency? Amazon has bought a trio of domain names related to cryptocurrencies and blockchain technology amidst rumors it will soon accept Bitcoin. That said, it's unclear if this is a precursor to the retailer accepting cryptocurrencies, or revealing its own. Last month, a rumor began circulating that suggested Amazon would soon announce plans to begin accepting bitcoin. The retailer still hasnt made any such announcements, but recent domain purchases may signify the start of their cryptocurrency plans. Domain Name Wire (DNW) reports that three domains were registered this week that are related to blockchain technology and cryptocurrencies: amazoncryptocurrencies.com, amazoncryptocurrency.com and amazonethereum.com. Initially, one may think the retailer is preparing to reveal something related to Ethereum and Ether tokens, or that its about to launch its own crytocurrency. CoinDesk notes the new domains are tied to Amazons subsidiary company Amazon Technologies, Inc; phone numbers listed on the registration are associated with the companys legal department. This means Amazon may just want to own the domains in order to cover its brand, or so itll have the domains ready in the event it ever decides to incorporate blockchain technology and cryptocurrencies into its business. It could also be a move made to further distance Amazon Coins from cryptocurrencies. This isnt the first time Amazon has purchased a domain related to a cryptocurrency. In 2013, the retailer bought AmazonBitcoin.com, which has nothing to do with Bitcoin. In fact, it redirects to Amazon.coms homepage a sign that these new domains may be used for similar purposes. Interestingly enough, todays news comes a little over a week after Ethereum co-founder Joseph Lubin Continue reading >>
Amazon And Starbucks Interested In Cryptocurrency And Blockchain
Amazon and Starbucks Interested in Cryptocurrency and Blockchain The past week was pretty major for both the cryptocurrency and blockchain sector. Why? Because two big-league companies (Amazon and Starbucks) hinted at incorporating either a virtual currency or blockchain technology into their corporate models. Will Amazon (NASDAQ:AMZN) Create an Amazon Cryptocurrency? On February 27, LendEDU conducted a study which asked 1000 Amazon customers if they would be open to using an Amazon virtual currency in case the Seattle, Washington-based company decided to branch out into creating what has been dubbed the Amazon Coin. More than half of the respondents indicated that they would use an Amazon cryptocurrency. The survey also asked respondents to indicatehow they feel about Amazon possibly expanding their business into other sectors, such as life insurance, mortgage lending, and more. However, the cryptocurrency question took the cake. Starbucks (NASDAQ:SBUX) Caught the Blockchain Feels Now we all know that Starbucks Executive Chairman Howard Shultz is interested in cryptocurrency, with one exception: he doesnt like bitcoin. I suppose this is fair, considering bitcoins volatility. However, now we know that Shultz is seriously considering integrating blockchain technology into Starbucks business plan going forward. During a Fox Business interview this week, Shultz stated that he sees blockchain technology as something that the Seattle, Washington-based company (is Seattle becoming a crypto and blockchain hub?) will use in the near-future. He then went on to drop hints about a potential blockchain mobile application. Cool, right? It makes sense that these two major U.S. companies are thinking about moving into these industries. After all, they have taken the world by storm la Continue reading >>
Commentary: Wait For A Better Bitcoin Before Investing | Fortune
As an avid cryptocurrency nerd and someone who is fascinated by the huge appreciation and volatility we are seeing in this massive new market, I am constantly being asked, Is Bitcoin going to $100,000 per coin? I make no attempts at predicting short-term pricing (under 10 years). It would be akin to answering the question, When will the stock market crash again? That said, I do have some predictions on the development cycles of cryptocurrencies that could prove useful when considering a potential investment strategy. As the CEO of a tech company, and as someone who has rebuilt, from the ground up, the technology on which my company is based four times, I do not envy the founders of blockchain startups. When you build new technology, it is nearly impossible to get things right on the first go. You make the button too big or too blue. You forget about some super-important factor. Or you realize, with time, that no one cares about your main productit is that little side project that is selling like crazy. As a traditional tech company, you have the luxury of being able to pivot. We can build a product and continuously iterate until we get close-ish to being mostly right. This lets us allocate resources in a flexible way. We can build a minimal new feature and only develop it further if theres a proven demand. This helps us stay ahead of the competition and build a great product that improves over time. When you launch a cryptocurrency, your main problem is that its incredibly hard to iterate. Blockchain tech is built on decentralization and democracy, both of which happen to be diametrically opposed to fast iteration. Heres how the process for improving many cryptocurrencies works. First off, anyone can do it. Because the protocols are open source, you can sit down, look Continue reading >>
Petition Amazon.com: Please Start Accepting The Ethereum Cryptocurrency For Payments! Change.org
Like many online retailers, Amazon.com currently only allowsus to useexisting fiat currencies for payments. This is bad both for consumers (you and I) and for Amazon.com for a number of reasons described below. To fix these issues, Amazon.com should lead e-commerce merchants by embracing the use of the Ethereum ( ) crypto-currency forpayments! Ethereum is better for consumers and Amazon.com because.... Lower fees.Amazon.com doesn't charge an extra processing fee, but with credit/debit card fees ranging up to 3.5%, they certainly have those fees baked into costs. Since Ethereum is decentralized and doesn't require a bank or government to process transactions, there are no middle man fees. This results in savings for both Amazon.com and consumers! MUCH more secure. Credit cards are notoriously insecure. With one card-issuing bank keeping track of all transactions, there's a single point of failure for a hacker to attack and steal your information and money. With Ethereum and other cryptocurrencies, that transaction record is distributed between millions of computer systems. Even if one is hacked, the other records are still there (and end up overwriting the hacked version), making transactions MUCH more secureand virtually eliminating charge-backs. Consumers control their money. Why trust a 3rd party to keep track of your transactions when you don't have to? While some fiat currencies are stable and you may trust your bank or government to control those, others are not. In many countries consumers must convert their local currency to another (incurring additional fees, losses due to exchange rates, etc). Ethereum is easy to access and hold onto, and works the same (and at the same value) everywhere. And the consumer stays in control of their money. Smarter transactions. Continue reading >>
What Does Amazon Want With Three Cryptocurrency Domain Names?
What Does Amazon Want With Three Cryptocurrency Domain Names? What Does Amazon Want With Three Cryptocurrency Domain Names? JP Buntinx November 3, 2017 Crypto , News There are always interesting developments in the world of cryptocurrency. Amazon has been doing some remarkable things in this area, even thoughits motives remain unclear for the time being. Most recently, the company has purchased three cryptocurrency-related domain names. It is unclear whatit plans to do with them, as the company isnt planning to accept cryptocurrency payments anytime soon. There are many potential reasons as to why Amazon would register three domain names which are related to cryptocurrency. According to CNBC , the company bought AmazonEthereum, AmazonCryptocurrency, and AmazonCryptocurrrencies last month. Its a rather interesting development, especially considering the e-commerce giant affirmeditwould not accept cryptocurrency payments now or in the future. Unless real demand were to kick in, that situation will not change whatsoever. Even the most recent petition to enable Litecoin payments on Amazon has fallen on deaf ears. While there have been rumorsthat Amazonwould soon enable Bitcoin payments, those claims are 100% fake for the time being. That doesnt mean this situation cant change over time, but there are currently no plans to make any changes in this regard. Thats an understandable decision, even though having Amazon on board would be quite spectacular for cryptocurrency as a whole. It would certainly alleviate some of the speculative investment vehicle concerns associated with Bitcoin. For the time being, no one knows for sure what Amazon will use these three domains for. Onepossibility couldinvolvethe company providing a brokerage service for cryptocurrencies without enablin Continue reading >>
Ripple (xrp) Might Soon Be Embraced By Amazon. Heres Why.
Ripple (XRP) Might Soon Be Embraced by Amazon. Heres Why. Ripple (XRP) is no longer just an altcoin. Its fast becoming an institutionalized currency, even being legitimized by major financial institutions. It has also experienced a stunning rise in the past week. Its growth has been so strong that it is now the second most-valuable crypto-coin on the global market. Ethereum (ETH) is now in third place. A lot of cryptocurrency watchers are speculating that it is only a matter of time until Ripple becomes further engrained into our economy. How much longer until this cryptocurrency is accepted on e-commerce platforms? E-commerce giants are slowly but surely embracing cryptocurrency. Overstock.com , for example, has some pretty lofty blockchain-related goals. Its ambitious CEO says that they are working on accepting a number of crypto-coins as payment. They are also going to launch their own coin offering. It seems like just a matter of weeks or months until we get another announcement. Another online retailer is going to make the decision to accept Bitcoin (BTC) , Ripple (XRP) or some other variety of crypto-coins. They may even launch their own. The big question is: What will Amazon (AMZN) do? When will the biggest e-commerce player in the industry jump on the cryptocurrency bandwagon? With XRP being the second-most valuable crypto-coin worldwide, its only logical to assume that Amazon will somehow incorporate it into its retail model. It may even be chosen over Bitcoin (BTC). Here are a few reasons why Amazon might decide to go with Ripple (XRP) when it eventually embraces blockchain technology: Big Banking Organizations Have Already Taken Up Ripples Technology In November, Banco Santander (its UK arm) and American Express broke some huge news. The two banks have forme Continue reading >>
Op Ed: Could An Amazon Token Become A Viable Worldwide Cryptocurrency?
Op Ed: Could an Amazon Token Become a Viable Worldwide Cryptocurrency? Op Ed: Could an Amazon Token Become a Viable Worldwide Cryptocurrency? Op Ed: Could an Amazon Token Become a Viable Worldwide Cryptocurrency? Combining the benefits of a utility-based cryptocurrency and a company that exhibits the characteristics of a power law network creates the perfect opportunity for a globally adopted cryptocurrency the Amazon Token. In this hypothetical futuristic scenario, Amazon extends on the suite of products and services it provides customers in 2018 including: online shopping, physical grocery, web services, artificial intelligence, internet of things, video and music streaming, healthcare (in development) and banking (small business loans). For reference, Amazon ships to 100 countries and has separate retail websites for 15 countries. In the United States alone, 55 percent of online shoppers begin their searches on Amazon and over 80 million shoppers subscribe to Amazon Prime. In the future, the customer-obsessed, low-priced Amazon economy could expand into all industries and become self-sufficient. In other words, Amazon will be selling everything to everybody in the best and cheapest way possible. In this hypothetical scenario, instead of 15 individual Amazon marketplaces scattered across the world operating in country-specific currencies, imagine a global Amazon e-commerce store with a single sign-on, billions of unique ASIN s, and the Amazon Token as a single payment method. In a recent study by LendEDU, 52 percent of 1,000 Amazon customers surveyed responded that they would use an Amazon-created cryptocurrency to make purchases on the Amazon website. So, what might the Amazon token look like? Amazons Past Attempt at Tokenization: Amazon Coin In 2013, Amazon release Continue reading >>
How An Amazon Cryptocurrency Will Change The World
How An Amazon Cryptocurrency Will Change The World An Amazon cryptocurrency wouldnt just change the face of the worlds largest online retailer. It would change the world. The era of mass adoption would be upon us within minutes of Jeff Bezos announcing either a proprietary AmazonCoin, or a partnership with an existing platform such as Stellar or Ripple. And it could happen any day. You can test our speculation at the end of this article. Rumors that Amazon may soon be making a foray into the cryptocurrency market have been circulating since late 2017, sparked by a series of crypto-related domain name registrations made by Amazons legal department in October. The company acquiredAmazonEthereum.com, AmazonCryptocurrency.com, and AmazonCryptocurrencies.com at that time. While Amazon has made no announcements regarding the registrations and is tight-lipped regarding any potential blockchain-related movements, speculation is rife within the cryptocurrency community about the potential implications of the move. What would happen if a dominant market force like Amazon were to enter the cryptocurrency market on a massive scale and begin accepting cryptocurrencies as a payment method? Amazon has a strong reputation for deploying its massive army of developers toward forward-leaning projects, giving credence to the proposition that the massive platform may even launch their own blockchain solution. What kind of impact would Amazon cryptocurrency acceptance or blockchain integration have on the blockchain ecosystem? On the structure of Amazons current holdings? In this article, well speculate on the potential fallout of an Amazon blockchain solution. Most of the discourse surrounding Amazon and the blockchain is focused on the possibility of an Amazon cryptocurrency allowing user Continue reading >>
Amazon.com: What Is Cryptocurrency?: Everything You Need To Know About Cryptocurrency; Bitcoin, Ethereum, Litecoin, And Dogecoin (cryptocurrencies) Ebook: Andrus Istomin: Kindle Store
Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers. Learn more about Amazon Giveaway This item: What is Cryptocurrency?: Everything You Need to Know about Cryptocurrency; Bitcoin, Ethereum, Litecoin, and Dogecoin (Cryptocurrencies) Customers who viewed this item also viewed This shopping feature will continue to load items. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading. Continue reading >>
Are Corporate Cryptocurrencies Coming? Amazon, Ebay And Starbucks
Are Corporate Cryptocurrencies Coming? Amazon, eBay and Starbucks Carlos Terenzi on March 16, 2018 / 0 Comments With adoption of cryptocurrencies and Bitcoin in particular growing day by day, people have begun to speculate whether large companies such as Amazon, eBay and Starbucks are poised to enter the market and create their own currencies or maybe start accepting existing ones as a payment method on their platforms. There has been a lot of coverage in the media recently regarding them so lets take a look and assess the possibilities. Amazon is is the largest internet retailer in the world. With $177 billion dollars of revenue in 2017, the company may have a big impact in the cryptocurrency market if it decides to accept Bitcoin and/or other virtual currencies. In October 2017, rumors were circulating about the possibility to accept Bitcoin as a means of payment. According to the German newspaper, Die Welt, this possibility increases day after day. As reported by the German newspaper, James Altucher, an important hedge fund manager and investor, hinted that Amazon could accept Bitcoin for its products and services. By doing so, Amazon would be one of the first global corporations that will allow its customers to pay using a cryptocurrency. Even when Amazon did not give any specific comment about the matter, fintech specialists in Silicon Valley believe that this is a real possibility. Die Welt explains that if the company does not add Bitcoin in the near future, it may do it later. A member of staff from Amazon that preferred to stay anonymous said about this possibility: Amazon opts to include new products or services only when these are useful for customers until that point, we do not engage in rough speculation. The truth is that Bitcoin has been accepted by seve Continue reading >>
Is Amazon (amzn) Gearing Up For A Cryptocurrency Exchange?
Is Amazon (AMZN) Gearing Up for a Cryptocurrency Exchange? FREE Breaking News Alerts from StreetInsider.com! Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here . In an article published yesterday, ValueWalk.com reporter Maj Soueidan suggests Amazon (NASDAQ: AMZN ) could be "gearing up for cryptocurrency exchanges" following reports the company has registered names related to cryptocurrencies. The domans include: amazonethereum.com, amazoncryptocurrency.com, amazoncryptocurrencies.com. CNBC reported the domain registrations in November, following up on an original report from trade publication, DomainNameWire, prompting immediate speculation across social and online publications, that AMZN was preparing to accept cyptopayments on it's platform. However, Souejdan provides a different take, writing, "when I took one look at these domain names, that is how they read to me. What would be the point of going out in registering a domain name like these if you were simply going to use one of the digital currencies on the website as a method of payment? A domain name is a placeholder for a bigger project than that and, the thought of Amazon exchanges was literally the first thing that popped into my mind when I saw the domain names. I literally said out loud 'theyre going to set up exchanges'. " Souejdan follows up the 'exchange' premise with a speculative breakdown of how the company would monetize a potential Amazon cryptocurrency exchange, commenting that, "the notion of being able to take a fee off of every transaction in the future is, I believe, a promising runway for new revenue growth. In addition, the managing of exchanges is would be an extremely synergistic enterprise for Amazon as not only do they already have the massive computing p Continue reading >>
Majority Of Amazon Shoppers Favor Amazon-created Cryptocurrency
Majority of Amazon Shoppers Favor Amazon-Created Cryptocurrency Most Amazon shoppers said they would support an Amazon-created cryptocurrency for purchases. A majority of Amazon shoppers would accept a cryptocurrency created by the retail giant should it decide to come up with its own virtual coin, according to new research by online marketplace LendEDU . LendEDU surveyed 1,000 shoppers, and 51.7% of them said they would be OK with using an Amazon-created digital coin to pay for their purchases. The idea does not sit well with 21.9% of those polled, who said they would not use an Amazon cryptocurrency, while 26.4% could not decide either way. Among Amazon Prime members, some 58.3% welcomed the possibility of using an Amazon coin. "The world of virtual currency is a confusing one, so Amazon would proceed with caution. However, the potential for using Amazon-created virtual currency to make purchases on the site even more streamlined is certainly tantalizing." In the same survey, nearly 45% stated they would use Amazon as their primary account if the online retailer ever forayed into banking services, with 17% saying they trust Amazon more than a bank. Some 38.3% said they trust Amazon about the same level as a bank in handling their finances. Additionally, the survey found that 50.3% of the respondents would consider taking out a personal loan from Amazon, while about 30% would sign up for a mortgage if Amazon offered such a loan facility. Rumors of Amazons involvement in cryptocurrency first emerged in September last year, when Squawker.org ran a story about a newsletter sent out by hedge fund manager and venture capitalist James Altucher. Part of the newsletter reads: I am certain that Amazon WILL ACCEPT Bitcoin. They have no choice. And this will be the tipping point Continue reading >>