The day has come: after years of speculation, you can finally spend your precious Bitcoin at Amazon, via a Lightning Network integration. This is not going to be a direct thing between you and Amazon, but a 'man-in-the-middle' type of activity, managed by a startup called Moon. How ironic that Bitcoin, which appeared as a 'man-in-the-middle' replacement for money, is becoming itself such a thing, but let's save that rant for another time, shall we? For now, let's dive into more details about how things are going if you want to use this feature.
Moon, the startup that created this feature, basically built a Chrom extension. So every time you're on Amazon checkout, it knows that and it presents you the option to use Bitcoin to pay for that specific purchase.
Image courtesy of Moon site.
Moon partners with Visa and MasterCard processor and gets a small cut from their percentage. As you can imagine, the percentage is not huge, and the only reason this type of business model is possible is the almost inexistent fees of the Lightning Network.
Although this is not processed directly by Amazon, the fact that you can transparently use your Bitcoin to shop there is a huge step forward and a key indicator for mass adoption.
At least in my humble opinion.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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@dragosroua,
While they are trying to implement BTC to pay at Amazon, it's better that they evolve STEEM, so they can avoid 3rd party of Lightening Speed Services easily!
Cheers~
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Slow and steady growth is always welcome ;) Adoption is also increasing which is a good start.
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That is really great to hear about
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That's a great implementation of lightening network use and it will follow on more others sites soon which is pretty cool
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This does seem like a great step! Thanks for spreading the word.
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Great idea and great article Thank you sir for the valuable information @dragosroua
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This is a great news for mass bitcoin adoption by the masses and corporate stores and markets. Bitcoin will soon become global currency for payments of goods and services @dragosroua
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I think this is a valid reason for bitcoin pump which currently we are seeing. This year is for lighting
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Wow!! That's amazing... Though I wish Amazon accepts the coin directly!
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Am surprised that Purse.io didn't jump all over this..
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