According to a newsletter from The James Altucher Report, Amazon will soon begin accepting Bitcoin, which they will officially announce as early as October 26th during their earnings conference call.
How Reliable is the Source?
James Altucher has (co)founded more than 20 companies, authored 11 books, and has been a contributor to several major publications.
He is a former hedge fund manager and venture capitalist turned activist blogger/podcaster and offers a subscription based mailing list – the source of the Amazon information.
Reading through some of his articles and listening to his podcasts he provides very intelligent insights into basically how to take advantage of the greed based world we live in – in a very positive way. He is often more right, than wrong.
On whether insider trading should be illegal for example, he says this, and it makes a lot of sense:
I don’t think it should be illegal. When someone makes a trade in the market, the knowledge they had in their heads is now encoded directly into the stock market.
The more “knowledge” that is baked into the market, the more efficient the market is. The more insider knowledge that is in stock, the more smoothly they will move and the more they will reflect the actual things that are effecting a company.
I’d rather have insider trading be legal and let the government go after the funds that actually steal money, like the Madoffs.
His newsletter really does offer some amazing information, such as delving into what exactly cryptocurrencies are and how to invest, but what I find the most intriguing is his focus on positivity.
It’s simple physics. The frequency you emit is the frequency you will attract. You want a happier life? Emit a happier frequency.
Will Amazon Begin Accepting Bitcoin?
Still a speculative statement, yet Google just started, Ebay and PayPal already do, countries like Japan and Russia officially recognize bitcoin as legal payment – it really is only a matter of time before Amazon follows suit …
… or creates their own currency.
Amazon Web Services back in 2016 did partner up with Digital Currency Group, one of the biggest investors in bitcoin and blockchain firms and startups, in order to:
“… provide such a service so the blockchain providers in DCG’s portfolio can work in a secure environment with clients who include financial institutions, insurance companies and enterprise technology companies.”
In other words, Amazon’s goal is to be the intermediary between DCG’s portfolio and their clients in transacting digital currency.
Amazon is “working with financial institutions and [crypto experts] to spur innovation and facilitate frictionless experimentation.”
Certainly seems as if Altucher is right about this, and once this news is announced it very well could cause a surge in bitcoin’s value, but the greed is distracting from the bigger picture.
What has helped make cryptocurrencies so attractive is their ability to combat everything from government overreach to unethical banking practices since no centralized server exists.
These tech giants know this and are beginning to intertwine themselves into the blockchain process by becoming covert intermediaries that will be able to monitor and ultimately affect all digital transactions.
Sure Google accepts bitcoin, but only through their Payment Request API. They will be able to see and record every transaction.
Will Amazon be any different?
Related article: Amazon On Track to Control the World’s Food Supply
UPDATE (Sept. 25) Since the release of this article, dozens of pingbacks originating from Switzerland, all within a second of each other spammed this article with a message that Amazon will not accept Bitcoin in the near future.
Sounds like damage control.
The truth is everyone will eventually accept Bitcoin, it cannot be stopped