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Author Topic: A serious threat to BTC adoption  (Read 442 times)
HeeSangJin
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April 21, 2013, 02:44:46 PM
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As I can't respond to the Amazon Coins thread in the main forum, I'm starting this one here.

There is FUD about BTC, but many will admit that there are challenges to actually converting fiat to BTC.  It is my experience that once someone gets his first BTC, he is hooked.  But that first step is a large one.

Enter Amazon Coins...  https://developer.amazon.com/post/Tx2EZGRG23VNQ0K/Introducing-Amazon-Coins-A-New-Virtual-Currency-for-Kindle-Fire.html

Like Ripple, they are giving away the coins, and unlike Ripple, Amazon is already established.

I predict Cryptocoins is going to be a long-tail ecosystem.  There will be many flavors of coins, but only a few will dominate.

Is BTC destined to be the underground cyptocoin, while today's industry leaders provide enough utility while offering some mainstream legitimacy?  If so, what is the realistic market share for BTC?
 
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ElectricMucus
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April 21, 2013, 02:47:30 PM
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Not that shit again.
You can't use those for anything else than buying at amazon. They are prepaid vouchers, nothing more nothing less.
John (John K.)
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April 21, 2013, 02:48:31 PM
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Not that shit again.
You can't use those for anything else than buying at amazon. They are prepaid vouchers, nothing more nothing less.

This. The only similarity is the 'coin' word.

My BTC Tip Jar: 1Pgvfy19uwtYe5o9dg3zZsAjgCPt3XZqz9 , GPG ID: B3AAEEB0 ,OTC ID: johnthedong
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HeeSangJin
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April 21, 2013, 02:58:47 PM
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Not that shit again.
You can't use those for anything else than buying at amazon. They are prepaid vouchers, nothing more nothing less.

I wonder why you think where it starts is where it ends.  I hope you are right.

As much as I might wish for it to never come to be, what is to stop a company such as amazon to grow a "voucher" coin into a more general form of payment.  Their limited purpose release is akin to a beta release.  Don't ignore the light at the end of the tunnel.

I'll put forth that this could be a good thing for BTC, as people could become more comfortable with cryptocoins in general. 

If we don't address some of the BTC market challenges, then I believe BTC could become marginalized.  I think that the BTC community and VC community are working hard to address the challenges. 

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April 21, 2013, 03:00:41 PM
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Not that shit again.
You can't use those for anything else than buying at amazon. They are prepaid vouchers, nothing more nothing less.

I wonder why you think where it starts is where it ends.  I hope you are right.

As much as I might wish for it to never come to be, what is to stop a company such as amazon to grow a "voucher" coin into a more general form of payment.  Their limited purpose release is akin to a beta release.  Don't ignore the light at the end of the tunnel.

I'll put forth that this could be a good thing for BTC, as people could become more comfortable with cryptocoins in general. 

If we don't address some of the BTC market challenges, then I believe BTC could become marginalized.  I think that the BTC community and VC community are working hard to address the challenges. 



Such vouchers would lose the major attraction of Bitcoin - anonymity, decentralized, and free banking. You're essentially describing LR/Moneybookers/PayPal etc etc.

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April 21, 2013, 03:02:34 PM
 #6

Bitcoin is *decentralised* - I think you need to have a big re-think about how much any *centralised* digital currency will be able to really compete with that (i.e. one threatening phonecall from the government equals *end of currency* for anything else).

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

GPG Public Key | 1ciyam3htJit1feGa26p2wQ4aw6KFTejU
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April 21, 2013, 08:15:38 PM
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the decentralised aspect is the key differentiator for Bitcoin


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