One of the major points that Overstock CEO Patrick Byrne made when his company began accepting bitcoin payments was that rival retailers would be forced to accept the digital currency in order to remain competitive.
Amazon, you could say, is an Overstock rival, but they don’t have any interest in getting involved with bitcoin, according to a Re/code report.
“Obviously it gets a lot of press and we have considered [accepting bitcoins],” said Tom Taylor, who leads the Amazon payments team, “but we’re not hearing from customers that it’s right for them and don’t have any plans within Amazon to engage bitcoin.”
According to Talyor, Amazon shoppers have more urgent needs, but he reportedly acknowledged advantages to a global currency like bitcoin.
Certainly a blow to many in the community, who have longed to spend their bits at the Internet’s largest online retailer.
The case was not only that enthusiasts wanted to spend their bitcoin in exchange for Amazon’s vast selection of products, but also that Amazon’s adoption of the bitcoin technology would further legitimize bitcoin’s use and appeal to investors.
Of course, that’s not to say Amazon won’t be changing their views down the line. But for now, bitcoin at Amazon isn’t happening. [source: Re/code]