WHOA and DOUBLE WHOA! What if Amazon became a cryptocurrency exchange? I mean Overstock is doing just that so why not?! Come on. Its AMAZON. Why just accept bitcoin (and other cryptos) when you can have your own exchange? HINT; if (BIG IF) Amazon did decide to create their own cryptocurrency exchange……..DO NOT BE SHORT BITCOIN. I bet even THAT would make Jamie Dimon (and a few others) change his tune.
(Bill Taylor/Founding Editor)
“Amazon.com 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 world’s 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 Amazon’s potential involvement in cryptocurriences going forward. Despite bitcoin’s volatility, 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 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 publication DomainNameWire was the first to report on Amazon’s 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 of stories and social media discussion about it being a possibility, but also to the price of bitcoin getting a boost. My first look at the news resulted in drawing a conclusion that could have an even further far reaching set of consequences, and that is that Amazon may look to set up its own cryptocurrency exchanges. No one has speculated as such so far, but it seemed to just naturally make sense as a conclusion to draw…”