Are new Amazon currencies and bitcoins taking over the world?

If Amazon.com were a country, its revenue would make it the 80th largest GDP in the world, and it now has its own currency. Recently, owners of a Kindle Fire got a free deposit of 500 Amazon coins to begin their dual citizenship.

Are Amazon Coins a Virtual Currency Like Bitcoin?

Will people ditch the US dollar in favor of Amazon’s US legal tender? Do not; the launch of Amazon Coins is for “thousands of Kindle Fire apps, games, and built-in items on Amazon.com or on your Kindle Fire, “not books or movies. And while purchased coins never expire, promotional coins received for free or as part of another offer only last one year. Meanwhile, the average lifespan of a device Electronic is days is shorter than Napoleon ducking under a pygmy goat.

Unlike Bitcoin, the preferred method of anonymous transactions for drug deals and rare earth magnets disapproved by the Consumer Product Safety Commission, there is no open exchange market for Amazon Coins. In fact, Amazon says, “the coins cannot be resold, transferred for value, redeemed for cash, or applied to any other account, except to the extent required by law.” Even Second Life Linden Dollars can be exchanged for Bitcoins and then redeemed for cash on one of several Bitcoin exchanges.

Amazon is selling its coins at a discount (500 coins for $ 4.80 up to 10,000 coins for $ 90.00) and that seems like a good deal. With up to a 10% discount, it’s like avoiding the Internet sales tax that may be implemented in the future if Congress has its way. Compare this to Microsoft, which also uses a points system on Xbox Marketplace, but awards only 80 points per dollar. If you are Microsoft, you give or sell points to buy applications and games, as well as increasing the consumer’s wallet share in other products, such as Skype calls, on which the points can be spent.

It’s all about the app

Google, Apple and Microsoft have their own application distribution systems, and Amazon already has its Kindle hardware platform, why not? Amazon wants to expand its share of the tablet market while pushing e-books and game merchandise, but needs to develop more apps, so like Microsoft’s Xbox Marketplace points system, Amazon Coins serves to incentivize customers. developers to offer Fire versions and share revenue, soften the impact of purchases, as well as get consumers hooked on other offers, such as the rumored Amazon decoder.

Said a reviewer on Amazon: “I don’t see this coin being good AT ALL. Not only does it hide the true cost of any content or item sold, it neglects protecting the account balance if any portable device is seized by an unauthorized user with 1 click. enabled “.

By the way, 1 click is the only way to buy Amazon Coins. There is no add to cart option and think about it, and the coins are non-refundable. As for hiding the real cost, it is true. 10,000 points is easier to spend than $ 90.00US, because it’s not real money, right? In that case, I’d like to share my Amazon Wish List with you, because a birthday is coming up and it’s just points after all.