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

[colinistheman]

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.

[jonald_fyookball]

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.

[rhino34567]

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.

[cyberpinoy]

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?

[548845]

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?

[BiTJack]

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.

[sed]

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.

[slacknation]

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

[RiverBoatBTC]

We should relicence Bitcoin and sue them for copyright infringement.

[Lethn]

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.

[OrientA]

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

[cakir]

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

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

[ibminer]

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!    

Amazon - fail!

[Don007]

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.

[LiteCoinGuy]

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

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

[thew3apon]

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

[Q7]

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.

[Guido]

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

[KenJackson]

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.

[elephantas1]

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?