Affected by Amazon's support for cryptocurrency payments, Bitcoin ushered in a surge at the end of July
There has been a sudden wave of small outbreaks of Bitcoin recently, which caught many people by surprise. In fact, it is not surprising that Bitcoin has risen by 10 points in a single day. It is important to know that not only is there no pattern in its rise and fall, but there is also no limit to the range of rise and fall. However, there are traces of Bitcoin's violent rise this time. The main reason is that it was affected by the news of Amazon's recruitment of cryptocurrency and blockchain technicians, which was over-interpreted by the market.
Some people think that Amazon's purpose of hiring blockchain and cryptocurrency technicians is to support cryptocurrency payments and develop its own cryptocurrency system. Affected by this news, Bitcoin rose rapidly by more than ten percentage points. Ripple, Ethereum, Litecoin and other cryptocurrencies also rose accordingly, and the entire cryptocurrency market was a prosperous scene. But then Amazon also made a clarification, saying that although it is curious about the cryptocurrency field, it does not mean to support crypto payments.
In fact, only from a technical point of view, since Amazon wants to recruit cryptocurrency and blockchain technicians, it does not rule out the possibility of providing cryptocurrency payments. You should know that Tesla has supported cryptocurrency payments before. Although it quickly stopped the payment interface, it has also accumulated a certain amount of crypto payment experience. As a global e-commerce giant, Amazon actually has an advantage over Tesla in terms of encrypted payments, because Amazon has a broader market.
Whether Amazon will support Bitcoin payments depends mainly on whether it will be beneficial to its performance
Tesla still has great limitations in selling electric cars, and the Amazon retail giant’s market is much more flexible, and it is more feasible to support cryptocurrency payments. As the world's largest cryptocurrency, Bitcoin not only has a mature consensus system and transaction system, but also has the largest market share. So if Amazon wants to support cryptocurrency payments, then Bitcoin will most likely be one of the top choices. Although Amazon currently denies this possibility, the verbal statement of a listed company does not have much credibility at all.
After Tesla supported Bitcoin payments, it took a few months to regret it. Whether Amazon will support bitcoin payments, you can’t listen to rumors, and you can’t listen to so-called clarifications. Whether Amazon will support Bitcoin payments depends mainly on whether it supports Bitcoin payments and whether it will play a role in promoting Amazon's performance growth.
Bitcoin has a lot of drawbacks. Not only is there a huge risk of hyping Bitcoin and holding Bitcoin, but Bitcoin also has problems such as suspected environmental pollution and money laundering. However, these issues may not be of concern to Amazon. Although Amazon supports Bitcoin payments, there is a high probability that it does not directly support Bitcoin payments. Amazon can imitate Tesla's model. Although it nominally supports Bitcoin payments, it is actually settled in fiat currency.
Amazon does not have products priced in Bitcoin, how to pay with Bitcoin, everything is a routine
In fact, to put it more bluntly, whether it is Amazon or Tesla, supporting Bitcoin payments is just a gimmick. They support the use of Bitcoin for payment, and they only exchange Bitcoin into legal currency through the trading platform, and then pay for the goods. The actual price of the commodity is still legal currency, and then converted into real-time market price of Bitcoin, but this price may have a buffer period of several minutes. In other words, the fiat currency price of the goods on Amazon is unchanged, but the bitcoin price of the goods changes at any time.
In doing so, Amazon actually added a payment interface to the Bitcoin trading platform on its own platform, but it does not need to bear the risk of Bitcoin. If you want to use a word to describe Bitcoin payment, then it's most appropriate to use bells and whistles. We must know that although Bitcoin is now very large and has a certain influence in the world, Bitcoin payment is not mature. I don't think Amazon is willing to take the risk of Bitcoin depreciation. If there are no products on the platform that are priced in Bitcoin, then how to use Bitcoin for shopping.
However, this does not prevent Amazon from supporting Bitcoin payments. As long as customers are willing to Amazon to support payment in gold, it is not impossible. And as long as Amazon supports Bitcoin payments, it will definitely promote Amazon's performance. After all, Bitcoin now has a great influence. In some areas with imperfect domestic currency systems, users can use Bitcoin to exchange US dollars and then shop on Amazon. Although this may seem superfluous, but in a sense, it still saves users some time.
However, these are based on theory, after all, the global online payment system is now very complete. Users who use and hype Bitcoin are generally very familiar with online payments, and they will not miss this time for exchange.