Bitcoin nears $40K after Amazon job ad suggests company will start accepting crypto

midian182

Posts: 7,143   +63
Staff member
What just happened? The price of Bitcoin has surged close to $40,000 on the back of claims that Amazon plans to accept the crypto for payments. BTC briefly passed $39,000 for the first time since mid-June a few hours ago and is worth $38,754 at the time of writing.

The price jump follows the recent discovery of a job advertisement for a “Digital Currency and Blockchain Product Lead” at Amazon. “The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap,” reads the ad.

It seems Amazon is preparing to join other companies in accepting Bitcoin as a form of payment for products listed on the site. An insider told City A.M. that this is set to take place before the end of the year, and Amazon is investigating its own token for 2022.

Bitcoin got quite a boost this morning

“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” she told City AM. “It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.”

The insider claimed Amazon is looking to accept other cryptos as payment methods once Bitcoin has been established on the platform. “Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online,” she added. “It won’t take long because the plans are already there, and they have been working on them since 2019.”

Bitcoin gained a similar boost earlier this year when Tesla said it would start accepting the crypto, but Elon Musk reversed those plans. The CEO recently said the EV maker would likely resume accepting BTC at some point, pushing its value up again. If Amazon really is planning to embrace Bitcoin, expect to see it skyrocket.

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3volv3d

Posts: 409   +209
Does no one see a pattern.
Elon. Bezos... Money makes money.
Words from them and up it goes.
Where does it stop.
No one knows....
Except for the people who have insider trading tips. Or can sell and crash the price themselves.
Bet you if or rather when this bs made currency gives up, they won't lose a dime. Or bitdime.
 

Kosmoz

Posts: 401   +721
And so the GPU prices will never come down to sane levels... maybe never ever... bleh. 😒

I really hoped I can get a new GPU this year at MSRP... I know, silly me. At this rate not even Black Friday deals will see the fabled unicorn MSRP appear in the wild.

Looks like I'm "forced" to buy that PS5 sooner than I wanted.
 

envirovore

Posts: 295   +583
TechSpot Elite
And so the GPU prices will never come down to sane levels... maybe never ever... bleh. 😒

I really hoped I can get a new GPU this year at MSRP... I know, silly me. At this rate not even Black Friday deals will see the fabled unicorn MSRP appear in the wild.

Looks like I'm "forced" to buy that PS5 sooner than I wanted.

Realistically that should depend on the type of coin/how it's mined.
I'm not into the e-coin thing, but being that it's impossible to avoid, have at least learned that different coins mine on different pieces of hardware or systems.

I'm sure I'll be corrected if I'm wrong here (which is fine and I welcome), but from my understanding Bitcoin itself used ASIC based systems for mining, not GPU compute (such as the current Eth. Coin -which is associated with the gpu shortage, though other lesser coins use it as well).
If this is a BTC fork or whatever they're called it shouldn't have any impact on GPU supply.
 

defaultluser

Posts: 249   +223
Realistically that should depend on the type of coin/how it's mined.
I'm not into the e-coin thing, but being that it's impossible to avoid, have at least learned that different coins mine on different pieces of hardware or systems.

I'm sure I'll be corrected if I'm wrong here (which is fine and I welcome), but from my understanding Bitcoin itself used ASIC based systems for mining, not GPU compute (such as the current Eth. Coin -which is associated with the gpu shortage, though other lesser coins use it as well).
If this is a BTC fork or whatever they're called it shouldn't have any impact on GPU supply.

Because most people deal in both ETH (GPU-compute) and BTC (ASIC), they tend t influence each other, (so it could be a problem for folks who were hoping it would correct itself next month.)

BUT, whenever they switch ETH to Stake, it will see a short-term drop in GPU demand (but buy before they sort-out whatever they replace ETH with in GPU-compute profitability.).
 
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Bl00dyMinded

Posts: 344   +476
Guess all the crypto haters will be on here in a few to comment... Told y'all crypto isn't going anywhere anytime soon. Either accept it now or accept it later. Either way you will accept it.
 

Kosmoz

Posts: 401   +721
Guess all the crypto haters will be on here in a few to comment... Told y'all crypto isn't going anywhere anytime soon. Either accept it now or accept it later. Either way you will accept it.
I'm only a cryto "hater" because of their extra negative impact on the GPU prices and availability.

This has "forced" me to mine crypto on my old GPUs just to make up for the deficit and still I don't want to pay those scalper prices, like never.

I wouldn't care about crypto one way or another, if not for the F-ed up GPU prices and availability...

That being said crypto could crash a burn to the ground tomorrow and I won't shed a tear, I'd actually be happy, even if now I'm making $$$ out of it.
 

wiyosaya

Posts: 6,518   +4,904
And so the GPU prices will never come down to sane levels... maybe never ever... bleh. 😒

I really hoped I can get a new GPU this year at MSRP... I know, silly me. At this rate not even Black Friday deals will see the fabled unicorn MSRP appear in the wild.

Looks like I'm "forced" to buy that PS5 sooner than I wanted.
Maybe Amazon will only allow mining their coins by their cloud computing facilities. It would then be beyond question that they would definitely control the price if that were so.
 

scavengerspc

Posts: 1,667   +1,726
TechSpot Elite
I'm only a cryto "hater" because of their extra negative impact on the GPU prices and availability.

This has "forced" me to mine crypto on my old GPUs just to make up for the deficit and still I don't want to pay those scalper prices, like never.

I wouldn't care about crypto one way or another, if not for the F-ed up GPU prices and availability...

That being said crypto could crash a burn to the ground tomorrow and I won't shed a tear, I'd actually be happy, even if now I'm making $$$ out of it.
Finally, someone with an honest and truthful reason.
 

ET3D

Posts: 1,762   +407
Guess all the crypto haters will be on here in a few to comment... Told y'all crypto isn't going anywhere anytime soon. Either accept it now or accept it later. Either way you will accept it.

The problem with "crypto hating" and "crypto loving" in general is that it puts all of crypto under one umbrella and therefore doesn't allow people to understand what's good and bad about it.

Besides that, Bitcoin going up doesn't make it good. The fact that it doesn't go away is down to greed and stupidity, nothing more. As said, Bitcoin being bad doesn't make all of crypto bad (though proof-of-work crypto is bad in general).