blackbeans
Elite Member
- Nov 29, 2008
- 9,247
- 4,806
I think this development if it ever does come to pass, is purely symbolic.
It basically would boil down to a very public pronouncement by Amazon that Bitcoin and similar cryptocurrencies are "legit technologies."
It can also be a hat tip by Amazon to the wider adoption of blockchain technologies, which it may itself be working on.
Maybe they're trying to come up with a variant or their own spin to it.
But I don't really see this in the same way as a lot of Bitcoin fans see it.
Bitcoin is just too slow as a mode of payment.
Will this have a positive impact on the price of Bitcoin?
You bet!
But that's beside the question.
The issue is, is Bitcoin going to continue to be the digital version of gold, which is a store of value?
Or, is there a better technology out there.
But in terms of a medium for online payments, Bitcoin is just too volatile, too expensive, too slow, and frankly too outdated to be used for that kind of thing.
Does this mean that this crypto is absolutely worthless?
Of course not!
It is still the gold standard when it comes to crypto "stores of value."
Look at it for what it is, which is basically "digital gold."
But when it comes to more practical applications, look elsewhere.
It basically would boil down to a very public pronouncement by Amazon that Bitcoin and similar cryptocurrencies are "legit technologies."
It can also be a hat tip by Amazon to the wider adoption of blockchain technologies, which it may itself be working on.
Maybe they're trying to come up with a variant or their own spin to it.
But I don't really see this in the same way as a lot of Bitcoin fans see it.
Bitcoin is just too slow as a mode of payment.
Will this have a positive impact on the price of Bitcoin?
You bet!
But that's beside the question.
The issue is, is Bitcoin going to continue to be the digital version of gold, which is a store of value?
Or, is there a better technology out there.
But in terms of a medium for online payments, Bitcoin is just too volatile, too expensive, too slow, and frankly too outdated to be used for that kind of thing.
Does this mean that this crypto is absolutely worthless?
Of course not!
It is still the gold standard when it comes to crypto "stores of value."
Look at it for what it is, which is basically "digital gold."
But when it comes to more practical applications, look elsewhere.