Amazon Coin. Just had to laugh when I saw this.

drugs

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Quote from: QuestionAuthority on December 23, 2014, 12:16:10 PM

Amazon marketing was just trying to link it's product to something trendy and edgy just like most marketing departments do. This is so 2013. The trendy, edgy, cool aspect of calling everything "coin" is gone. I'm sure this will be gone soon when they move on to the next trend.

You might have a point. Think it will probably scare most of the general public away who don't understand crytpocoins though so not sure if it;s a good decision on Amazon's part.

QuestionAuthority

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You lead and I'll watch you walk away.

Amazon marketing was just trying to link it's product to something trendy and edgy just like most marketing departments do. This is so 2013. The trendy, edgy, cool aspect of calling everything "coin" is gone. I'm sure this will be gone soon when they move on to the next trend.

neoneros

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I can draw your avatar!

Quote from: promojo on December 23, 2014, 11:51:31 AM

And the question remains... What the hell is the point of it anyway? To keep this in their walled garden? For re-sellers/merchants? Why would I want to transfer from PayPal/CreditCard to Amazon Coin?

It is an incentive to get the customer to return and buy more at Amazon, cummulating more coins. And when used for micropayment you buy them in bulk, so you do not notice how many dollars you spent because is does not feel like real money anymore.

Poolie

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Quote from: colinistheman on December 23, 2014, 12:10:16 AM

If it had been an [ANN] alt coin thread it would have looked something like this... just for laughs

It's not decentralized.
It's not in limited supply.
It's not anonymous.
Amazon creates as many as they want.
It has no blockchain.
It's not a cryptocurrency. (just a virtual currency)

Ha. This coins shouldn't even be discussed here. It's nothing more than some kind of digital token called a coin and has nothing to do with cryptocurrencies.

promojo

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Quote from: colinistheman on December 22, 2014, 12:27:30 AM

It's Amazon Coin!! Yayy.

Fail.

And the question remains... What the hell is the point of it anyway? To keep this in their walled garden? For re-sellers/merchants? Why would I want to transfer from PayPal/CreditCard to Amazon Coin?

Cablez

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I owe my soul to the Bitcoin code...

So this looks like MS points for amazon. Is that all? YAWN

colinistheman

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If it had been an [ANN] alt coin thread it would have looked something like this... just for laughs

It's not decentralized.
It's not in limited supply.
It's not anonymous.
Amazon creates as many as they want.
It has no blockchain.
It's not a cryptocurrency. (just a virtual currency)

malaimult

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Quote from: sed on December 22, 2014, 03:53:29 PM

Quote from: elephantas1 on December 22, 2014, 10:49:29 AM

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

This is not a crypto, it's just amazon bucks. It's like when you have money on a starbucks card or something. OP was commenting, I think, on how the naming seems to be an attempt to ride on the coattails of bitcoin and altcoins.

Exactly. It is essentially a gift card but can only be used in games for in-app purchases. It is similar to facebook's credits for buying extra pigs in farmville.

IMO they are not trying to intimate bitcoin nor pass it off as being a crypto

bitllionaire

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it is really funny they try to have something like a coin, but I think almost nobody use that coins
They will finally accept bitcoin by the simple fact that bitcoin is being more and more used

uvwvj

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So what if Amazon starts accepting BTC for Amazon coin, will that change your mind?

Actually as an Amazone user I like this in this way, 100 Amason coins =$1 USD. I can only buy from Amazon but I would be getting a discount of 30% buy in coins instead of using a Credit card all the time especially if I don't want to put a cc on my phone to buy mobile.

bornil267645

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AltoCenter.com

When I saw it, it was funny alright,

But when I saw it with your post, it was historical,

Good one !!!

Possum577

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Loose lips sink sigs!

Quote from: commandrix on December 22, 2014, 07:28:11 PM

I've known about this for a while. Sure it might be reasonable that Bitcoin could sue for copyright infringement as far as the logo is concerned, but I never really thought it was a cryptocurrency. Just something bogus Amazon is doing.

Bitcoin isn't an entity that can sue people or organizations. Can the Dollar or Euro or Yen sue someone?

commandrix

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I've known about this for a while. Sure it might be reasonable that Bitcoin could sue for copyright infringement as far as the logo is concerned, but I never really thought it was a cryptocurrency. Just something bogus Amazon is doing.

Possum577

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Loose lips sink sigs!

Quote from: 548845 on December 22, 2014, 04:13:12 AM

I have no other way to explain this.

Its is beyond sad. It is pathetic.
It is something we should show compassion and understanding for.
But I am still not buying their shitty coins.

Hell I have problems accumulating Bitcoins, why the hell would I waste my money on Amazon coins?

Are all loyalty programs pathetic? Are airline miles sad? Are your credit card points not worth your compassion?

The OP is clearly confused...he/she is taking what is graphically portrayed as a coin and making a huge jump that it some how is related to Bitcoin or crypto currency. It's not. It's just a refreshed way to brand Amazon's loyalty points.

Stop searching for drama, you're worse than the media!

Possum577

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Loose lips sink sigs!

This looks like any other coin that's ever been minted. Physical alt currency coins were fashioned after fiat coins, so.....what's the problem?

I think it's a cool marketing idea, a new spin on the traditional loyalty points that retailers offer.

sed

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Quote from: elephantas1 on December 22, 2014, 10:49:29 AM

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

This is not a crypto, it's just amazon bucks. It's like when you have money on a starbucks card or something. OP was commenting, I think, on how the naming seems to be an attempt to ride on the coattails of bitcoin and altcoins.

Lauda

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Terminated.

It is pretty useless, I'm not sure what they thought they will gain from this.

Flashman

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Hodl!

Quote from: Stedsm on December 22, 2014, 10:25:08 AM

We need a campaign! Stat!

Do we have to? It was more fun when it was geeks only. Cheesy

bitcoinmining

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It looks really funny guys, thank you for sharing and don't take it so serious. Bitcoin is indisputable against these funny imitations Cheesy

iluvpie60

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Quote from: KenJackson on December 22, 2014, 10:14:09 AM

Quote from: iluvpie60 on December 22, 2014, 09:29:32 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.

Right, I agree it is not a currency, it almost kind of makes fun of crypto the way that they use it. It is odd they only let you use it on games/apps too. I don't understand why that is. You gotta admit though, 30% off of a $60 game is a pretty sweet deal, on top of that using an amazon rewards credit card to buy those coins gives you 3% off.

so that $60 game now is $40.74 before tax. Assuming they let you buy like xbox/pc/ps games and all that. Not sure if it is just games meaning "apps".

But still.

OmegaStarScream

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Quote from: colinistheman on December 22, 2014, 12:27:30 AM

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, 10:49:29 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, 09:23:07 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, 01:25:45 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, 09:29:32 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, 09:22:06 AM

Quote from: OrientA on December 22, 2014, 06:55:01 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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Quote from: OrientA on December 22, 2014, 06:55:01 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, 07:46:19 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.

thew3apon

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It is cool to see that Amazon is using a system like this.

LiteCoinGuy

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In Satoshi I Trust

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

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

Don007

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Live like there is no tomorrow!

It would be much better if they simply accept Bitcoin.

I had to buy some stuff of the German Amazon recently. The only way I (as a foreigner) could pay for the things I had ordered, was with Creditcard (which I don't have) or with "Geschenkgutscheine", thus vouchers which I should have offline somewhere in Germany (- or ordered online, and paid by Creditcard...).

Bitcoin would have made that process a lot easier though.

ibminer

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Goonies never say die.

Definitely a glorified customer rewards program aimed at imitating crypto currencies.

..... they even have a picture resembling forum member Vod's avatar on their homepage! Grin

Amazon - fail!

cakir

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★ BitClave ICO: 15/09/17 ★

If there's no pool to mine I'll pass it Grin

Anyway, It's not different from "bonus points" that companies gives away... It's worthless...

OrientA

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

Lethn

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lol we all knew they would pull something like this, I suspect Paypal will do something similar, they're against the decentralised models so of course they aren't going to adopt Bitcoin, I think it's just wishful thinking on the part of the Bitcoin community.

Sure it'd be nice, but it's not realistic.

RiverBoatBTC

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We should relicence Bitcoin and sue them for copyright infringement.

slacknation

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no different from centralized money payments system that has been around for a long time. agree that the symbol designs are overdone perhaps

sed

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Funny. Thanks for posting the link to this. I agree that the branding seems to be aimed at imitation of bitcoin and clones. However, as you also point out, this is not a crypto, it's just amazon tokens.

Interesting nontheless.

BiTJack

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We can think what we want but they still will make a shit load on money on it, instead of calling it a point system they named it Amazon coin
the idea is still the same has nothing to do with cryptocurrencies.

548845

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I have no other way to explain this.

Its is beyond sad. It is pathetic.
It is something we should show compassion and understanding for.
But I am still not buying their shitty coins.

Hell I have problems accumulating Bitcoins, why the hell would I waste my money on Amazon coins?

cyberpinoy

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You might laugh, but they will sell a lot of these coins, I did not see a wallet I did not see a way to mine them, so these are virtual currency not crypto currency. Its just a way to buy amazon products. they are not in it for the revolution, they are there because they don't want to be forced to do what their customers want and accept bitcoins, so they make their own fake crypto currency.

So Bitcoin Lovers who are also amazon members how will you react to the slap in the face Amazon just gave you, your wishes and Bitcoin?

rhino34567

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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.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: colinistheman on December 22, 2014, 12:27:30 AM

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.

Good.

The more imitators, the better.

There is only one Bitcoin.

colinistheman

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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.
It's not anonymous.
It has no blockchain.
It's not a cryptocurrency. (just a virtual currency)

It's Amazon Coin!! Yayy.

Fail.

Topic: Amazon Coin. Just had to laugh when I saw this. (Read 2921 times)