written by reader Amazon’s $1.91 Trillion Bitcoin Shock

By pereca30001, January 15, 2018

Just got this from Doug Hill at Choose Yourself Media about Amazon. What are your thoughts Travis? Has anyone else asked about it?
https://pro.chooseyourselfmedia.us/p/ALR_masterclass1col_1017/LALRU198/?h=true
Does it sound like they are teaming up with a specific company or are they going to start their own Cryptocurrency?
You are the only person I know that might have an idea on this.
Thanks again for an outstanding job over the years!

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

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carolinaviking
Member
January 16, 2018 10:04 am

I believe one of the possible three Amazon crypto-currencies is Ethereum (ETH).

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Joyce
Guest
Joyce
January 26, 2018 8:36 pm
Reply to  carolinaviking

I was guessing XLM

Lynn
Member
Lynn
February 15, 2018 3:34 am

Yes, Travis—please help us out on this one with your super sleuthing skills! 😉

Dane F. Avagliano
Member
Dane F. Avagliano
July 10, 2018 10:19 am
Reply to  Lynn

Yes Travis Many of us would like to know what Amazon is up to.Are they going with their own currency or are they going with one that exist already.

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Upendra
Member
Upendra
February 15, 2018 7:53 am

Apparently, something will happen on April 27 2018. Looking at XLM, I have been reading at other online reviews that this will reach only $1.50 – 2.50 year end.

peacelovewoodstock
Guest
peacelovewoodstock
March 6, 2018 6:10 pm

April 27 is their quarterly earnings report date and call.

Last November, it was reported that Amazon has purchased three additional cryptocurrency related domain names, to augment “amazonbitcoin.com” which they purchased three years ago.

Amazon has recently said that they are not about to start to accept cryptocurrencies, for all the obvious reasons. Analysts believe that the domain name registrations are defensive.

IDK why they would want to create their own cryptocurrency, what with all the potential regulation and scrutiny and tax implications, and why would they want to associate their name with a risky and highly volatile crypto that could leave many buyers with negative feelings about the brand.

They could decide to issue some kind of token, perhaps for loyalty rewards, that relies on blockchain, perhaps even an Ethereum ERC20 standard token. There might be a secondary market for these tokens but who would ever pay more for one than the value Amazon associates to them as loyalty rewards?

If you listen to (or read -https://pro.chooseyourselfmedia.us/p/ALR_masterclasstier_0118/LALRU2FH/Full?h=true) the entire silly pitch, the guy is basically flogging cryptocurrencies, using tarted-up numbers to suggest that anyone can invest $100 and make millions in returns. His bottom line prediction is that Amazon is going to announce that they now accept Bitcoin. I’ll give 100-1 odds that they don’t. Full disclosure, I am long in a half dozen cryptocurrencies, including Bitcoin, total portfolio value is about $50K currently, and I didn’t (or wouldn’t) put a penny into it that I couldn’t afford to lose entirely. Caveat emptor.

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Altaf
Member
May 11, 2018 8:30 pm

I agree with you fully. I am long too with a few dozen crypto as I don’t know which one will move like BTC. No possibility, again may be who knows? Today I see NEOS 101695%+, I checked the chart it does not show like that, then…

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sue nami
Member
sue nami
April 22, 2018 9:49 am

Yes, I’m a bit surprised Mr Gumshoe hasn’t responded to this advert, how many of his subscribers have to make the request?

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Travis Johnson, Stock Gumshoe
July 10, 2018 11:39 am

I would imagine that cryptocurrencies are not at all a priority for Amazon. Until they make things better for consumers and are more efficient than credit cards, no impact… and I think we’re a long way from that now.

Amazon doesn’t often take their eye off the ball of “what do consumers want, and how can we deliver it most quickly,” and cryptos aren’t going to soon be a meaningful competitor for actual transactions. Maybe someday, but the stories about Amazon being a crypto force or tipping the scales for one currency or another are, I think, just silly. I do own Amazon shares, for what that’s worth. The ads teasing this are all either guessing that Ethereum or one of the other larger cryptos will boom, or pitching one of the various “backdoor” plays on blockchain (like the chipmakers, etc.). From my perspective this is all story, no substance.

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