Amazon Coin. Just had to laugh when I saw this. - page 2.

OmegaStarScream

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Quote from: colinistheman on December 21, 2014, 11:27:30 PM

http://www.amazon.com/gp/feature.html?docId=1001166401

The name and logo of their coin is so obviously modeled after all the bitcoin alt-coins, it's not even funny.

Flattering and lame at the same time.

It's not decentralized.
It's not in limited supply.
Amazon creates as many as they want.
It isn't a blockchain based coin.

It's Amazon Coin!! Yayy.

Fail.

lol , they failed hard Roll Eyes

like I always say , bitcoin is something unique & so original , and no Altcoin or any other Cryptoo currency will defeat it . all we need in BTC at the moment is the full annonymity off chain transaction. something like Zerocoin project

"You can earn free Amazon Coins by purchasing select apps, games, and in-app items" Huh

bitllionaire

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it's just a matter of time that they accept bitcoin

it is unavoidable

zyzzbrah

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This is ridiculous. Just a stupid ego fight. They will sooner or later get engufled by Bitcoin anyway. Fucking tools.

ChuckBuck

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better everyday ♥

Definitely is just a loyalty/rewards system, not modeled after Crypto at all. Think "points" or "flyer miles".

That said, I wouldn't touch this with a ten foot pole just for the resemblance.

I would, however, start dabbling in this:

https://purse.io/

If I get any Amazon gift cards anytime soon, I'll be sure to give this a test drive.

btckold24

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★Bitvest.io★ Play Plinko or Invest!

just rewards? Its stuff they would give away for free just to view their advertising but now it makes it seem like your "earning it"
pass

HeroCat

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May be they just see BTC market, and then think - why not - we too can create our own coin ?

elliwilli

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et rich or die tryi

Dude this is old news.
Amazon coins are actually pretty good, i picked up Threes using them from my purchase of Plex its a loyalty system and not a cryptocurrency.

herzmeister

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They were actually looking for developers who were "enthusiastic" about BTC and crypto-currencies. Laughable. Was already obvious it would gonna have nothing to do with it.

cheekychap

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Quote from: elephantas1 on December 22, 2014, 09:49:29 AM

why they create their own crypto when they can just integrate bitcoin?

Like someone said, it was done back in 2013. I think they already gave up on the idea.

noma

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Quote from: elephantas1 on December 22, 2014, 08:23:07 AM

Quote

It's not in limited supply.
Amazon creates as many as they want.

Doesnt it mean that they can make its price as big or low as they want?

I dont think they will. Right now just seems to be an experiment by amazon, which kind of failed badly.

elephantas1

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why they create their own crypto when they can just integrate bitcoin?

Stedsm

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Sucks that consumers will dig into this rather than bitcoin Sad

We need a campaign! Stat!

NarC

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BitcoinStoreStarter.com

Quote from: rhino34567 on December 22, 2014, 12:25:45 AM

I don't really see much resemblance except that they have a coin-like image as a logo. That makes sense, though, since it's virtual money.

agreed, it's more of a rewards program than currency

KenJackson

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Quote from: iluvpie60 on December 22, 2014, 08:29:32 AM

It says you can save up to 30%. Did you read the whole article? It is also only used for games and apps. And this is from 2013.

Those features are not fundamental to currencies. They're just like coupons or reward points on a credit card.

Gervais

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I don't see what the point is. They just seems like some kind of points system, though I don't know why people would actually buy them instead of keeping their fiat.

iluvpie60

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Quote from: KenJackson on December 22, 2014, 08:22:06 AM

Quote from: OrientA on December 22, 2014, 05:55:01 AM

It is not a currency which can be accepted by other retailers.

This is the key point. If you can only get it and spend it at one place, it's not currency.

Also, the page says "100 Coins are worth $1." So even if it was a currency, it's tied to the USD, just like many world currencies. But since Amazon already takes payment in USD (or the currency of the country they're going business in), and most of their customers get paid in the local currency, there's no advantage.

It says you can save up to 30%. Did you read the whole article? It is also only used for games and apps. And this is from 2013.

elephantas1

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Quote

It's not in limited supply.
Amazon creates as many as they want.

Doesnt it mean that they can make its price as big or low as they want?

KenJackson

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Activity: 127

Merit: 100

Quote from: OrientA on December 22, 2014, 05:55:01 AM

It is not a currency which can be accepted by other retailers.

This is the key point. If you can only get it and spend it at one place, it's not currency.

Also, the page says "100 Coins are worth $1." So even if it was a currency, it's tied to the USD, just like many world currencies. But since Amazon already takes payment in USD (or the currency of the country they're going business in), and most of their customers get paid in the local currency, there's no advantage.

Guido

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Quote from: LiteCoinGuy on December 22, 2014, 06:46:19 AM

it has nothing to do with bitcoin or crypto, its like air miles and stuff.

"amazon-coin" is here since Feb 2013, nothing new.

ditto
It's a proven FAIL

Q7

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More like a loyalty token that rewards buyers for making purchases at amazon. In the end it is more towards increasing sales on their product. Don't think they are interested to compete in the altcoin business... it's just they are creating the coin to support their core business.

Topic: Amazon Coin. Just had to laugh when I saw this. - page 2. (Read 2932 times)