After Amazon (AMZN) posted a job ad for a cryptocurrency lead recently, now Walmart (WMT) has done the same thing. PLUS- AMC Theaters (AMC) and Tesla (TSLA) both have already previously hinted at plans for accepting bitcoin, and perhaps other cryptocurrencies. Are major companies like Amazon and Walmart going to start accepting bitcoin/crypto for payments soon?
Whether the big banks Like it or not-recent developments suggest you may be seeing a “pay with bitcoin” and “pay with Crypto” option offered by some of the world’s most popular businesses pretty soon…or at least that’s what it seems.
What are 3 clues that point to widespread crypto payments starting to happen at lots of large businesses in the not-too-Distant Future?
- Some of the biggest companies on earth are starting to show clear interest in bitcoin, cryptocurrency, blockchain technology, and some companies are even attempting to create their own digital currencies and/or blockchains. But-the real huge momentum shift that happened recently in the crypto news space was the news of amazon posting a job ad recently for a new position to lead digital payment efforts. After Amazon Posted a Job for a “Digital Currency and Blockchain Products Lead,” walmart followed suit and posted a job ad in the middle of august 2021 for the same sort of position. while only time will tell, it’ll be interesting to see how long it takes for some significant developments from the world’s largest companies to take place within the crypto realm. with amazon (AMZN) and Walmart (WMT) being 2 of the world’s most valuable and successful companies, and america’s largest retailers-it’s safe to assume that they would not be posting job listings for digital currency and blockchain related positions if they did not want to attract attention and if they didn’t have intentions of trying to find ways to utilize crypto and blockchain technologies in some form or fashion. Amazon, by coming out and saying they’re “definitely interested in the space,” while denying imminent plans to accept cryptocurrency payments, only added fuel to the proverbial fire when they came out to respond to widespread reports/speculation. now, assuming walmart is concerned about the possibility of losing ground to amazon in the digital payments space, walmart is apparently gearing up to offer crypto payments and utilize blockchain technology as well…but walmart, like amazon, has not made any official announcements right now. while it’s not certain if bitcoin and other crypto will ever be accepted by large companies like amazon and walmart, due mostly to regulatory concerns, it would not be surprising to see these giants jump in to start accumulating vast sums of the cryptocurrency pie. also, while some crypto advocates may have mixed feelings and while others sit and rejoice at the possiblity of widespread crypto adoption-rest assured and know that walmart and amazon understand the power they wield economically and thus they also understand that their acceptance of crypto will turn crypto into a ubiquitous and 100% mainstream currency virtually overnight (and it’ll also probably skyrocket the value of bitcoin and other cryptocurrencies even further). Besides just accepting bitcoin and cryptocurrencies, companies with vast shipping and logistics challenges and thousands of employees working independently but towards the same goals- like amazon and walmart and tesla- surely understand the potential for blockchain technology to redefine their businesses and to further secure and increase efficiency of their entire supply chain. Also, there had been rumors in the past that amazon was looking to create their own digital currency…however these rumors have never been confirmed to be true. another behemoth of a company that surely has interest in cryptocurrency payments is facebook, as you’ll likely remember they’ve already created their own yet-to-launch crypto project, which will be called Libra or diem, so it’s a safe bet to assume that facebook would certainly be willing to accept other crypto and bitcoin in the future (or at least until they try to roll out their own currency). For bitcoiners and other crypto enthusiasts, the goal is for companies to adopt bitcoin and other crypto and not for them to try to roll out their own digital currency projects because those sorts of efforts could stifle innovation and force consumers to pay with one sort of crypto. For example, dallas mavericks owner mark cuban has announced the team will accept some payments in dogecoin and litecoin (but not yet bitcoin or ethereum), so there’s positive movement already with globally recognized companies/brands starting to venture into the crypto payments space. And, again, it’d be best to have it be this way where companies are taking payments with the most popular cryptocurrencies and bitcoin versus trying to create their own coins/tokens. Why? because then lots of companies will cheapen the value of their coin the point where they may not find interest and also because privacy concerns would be far too vast. Can you imagine…pay with your facebook coin or amazon coin or you can’t shop? nobody wants that sort of privacy or oversight, and nobody wants a currency owned by a company to become a dominant store of value or method of payment. instead, let’s hope these recent job posting and other developments are signs that there is positive momentum ahead for bitcoin and the crypto community as a whole because some majorly influential companies are starting to entertain the thought of hopping on to the crypto train right now.
- Elon musk and Tesla have an incredible influence on bitcoin and the entire crypto market…like it or not. Remember-tesla’s elon musk announced that the electric car manufacturer would soon start accepting bitcoin as payment several months ago, then-just as abruptly as he announced tesla’s intentions to accept bitcoin as payment-elon announced that tesla would actually not be accepting bitcoin after all because the process of “mining” bitcoin was, according to Mr. Musk, not powered enough by renewable energy sources. Now, as of august 2021, it appears that tesla and Elon Musk are possibly having a change of heart again when it comes to bitcoin. Why do we say this? Because-first of all, tesla never sold any of the bitcoin the company owns and because, recently, elon told reporters that tesla will “most likely” begin accepting bitcoin as a form of payment soon. so, especially now that there is verifiable proof that 50% or more of bitcoin mining is being powered by renewable/green energy sources, it would not be surprise to see an updated bitcoin payments announcement coming soon from tesla and/or mr. musk. Oh, by the way, Elon also announced that spacex owns some bitcoin, just like tesla does, and Mr. musk also disclosed that he does personally own bitcoin, ethereum, and dogecoin as well, so suffice it to say there is clear interest in the crypto space from musk-affiliated companies and from Mr. Musk himself. while it’s not guaranteed, most experts feel it’s pretty likely this interest will lead to tesla eventually accepting bitcoin for payments. if a company like tesla begins to accept bitcoin, mainly because of the amount of publicity and follower mr. musk is able to effortlessly attract with a single tweet or statement, just the sheer publicity alone of tesla accepting bitcoin as a form of payment would be a very positive event for bitcoin (and other crypto als0) and it would likely help to drive even more widespread mainstream adoption by causing more and more folks to start owning bitcoin based upon various motivating factors. like it or not, anything that elon musk does seems to have a large influence on the masses…so elon taking a full stand behind bitcoin would surely send bitcoin, and other cryptocurrencies musk favors, like dogecoin, “to the mooooooon!”
- The recent infrastructure bill passing through the various levels of government could be a true watershed moment that, while seemingly trying to kill crypto, could actually help launch the crypto industry into the mainstream once and for all. while it’s true that there are not many bitcoin and crypto holders who are particularly excited about the prospect of the united states government introducing new taxes and regulations into the crypto space…it actually could be a positive sign, as weird as that sounds. Why? Well, if the government is worried enough about bitcoin and crypto that they are wanting to implement ridiculous regulations, then that tells you the government knows that crypto is a legitimate industry. And-while it’s clear that crypto taxes are only going to touch a small fraction of the more than $1 trillion deficit the u.s. government has put the nation into-it’s also clear that crypto gained a lot of free publicity in the process of the biden administration trying to wrongfully remove another freedom from citizens in the middle of a devastating health pandemic no less. of course, many americans were quick to respond to the complete foolishness of lawmakers. but…what the out of touch senators and other politicians who introduced hidden language about crypto into an infrastructure bill meant to help the economy recover is that they’re actually working diligently to kill one of america’s best chances at remaining a world leader in innovation. assuming bitcoin/crypto/blockchain were to be stifled in the U.s. to the point where entrepreneurs leave the country due to regulations and taxes, it would be similar to having outlawed the internet in the early days and then another country would be the global leader instead of the U.S. So, while lawmakers apparently didn’t realize the passion of the crypto community and also don’t seem to understand the economic potential of the technology…the crypto community certainly has been vocal. Not only have regular bitcoin holders and people from the crypto community as a whole been extra vocal in contacting senators, state representatives, and anyone who will listen, but some very prominent individuals have gotten on board. Like who, well… some of the most vocal supporters of bitcoin who have come out recently to publicly comment on the government’s wrongdoings include none other than jack dorsey, the founder of twitter and square, and dallas mavericks owner mark cuban of shark tank fame. and, yes-elon spoke out as well…as have millions of other people. so, while it’s never nice to see the government trying to stifle innovation, oppress citizens, or kill industries and entrepreneurial pursuits, it is nice to see how the crypto community has banded together and gotten stronger. Oh…and also the crypto community has gotten larger. More than 1 million new individuals in the usa alone have started owning bitcoin and other cryptocurrencies in the last month, and that’s not even counting lots of users on exchanges and new miners and cold storage, etc… so, yes, momentum is right now on the side of crypto and the community needs to work hard to keep it that way in order to ensure any laws and regulations that are written aren’t just entirely controlled by individuals who have no idea about bitcoin or crypto or blockchain at all.
Economically and technologically, it only makes sense for amazon and walmart and other large companies to start accepting bitcoin and crypto as payments. While there are certainly many more factors at play, we’re excited to hear your thoughts on this article and want to know if you agree or disagree with our 3 major factors that seem to indicate widespread crypto payments are coming soon to a store or website near you.
Now more than ever before, it should be clear that you need to start mining bitcoin with minedpool today, and you should possibly look hard at owning bitcoin/crypto, but that’s just our opinion. Of course, we aren’t giving you financial advice…just giving you our opinion and advice on how to become part of the amazing crypto industry.
Thanks for reading our latest post in the minedpool blog. If you haven’t already, be sure you become a minedpool member Asap, so we can help you be ready for the future or crypto and blockchain technology. Until we meet again, be sure to Stay awesome and keep Hodl’ing your bitcoin and other crypto!