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Originally Posted by BeccaPrice
are they trying to come up with an alternate currency like bitcoins? I'm not sure what the intent of Amazon coins is.
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Not exactly.
It is more like Microsoft points; you buy the Coins in bulk and then spend them on micropayment digital purchases at *their* digital stores only.
It is both a loyalty program and a cost-reduction measure (it'll reduce the credit card charges on those $0.99 or smaller buys. Thus it opens the door to them selling even cheaper digital content.
It opens the door to a Green Stamp-style rewards program, too.
(Spend x-amount on the merchandise stores and get rewarded in Coins to spend on Digital content.)
Edit: Note the bolded statement:
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“Today we are giving Kindle Fire owners $5 worth of Coins to spend on new apps and games, or to purchase in-app items, such as recipes in iCookbook, song collections in SongPop or mighty falcon bundles in Angry Birds Star Wars. And with discounts of up to 10% when you buy Coins, this is a great way for customers to save money when they buy apps, games and in-app items,” said Mike George, Vice President of Apps and Games at Amazon. “We will continue to add more ways to earn and spend Coins on a wider range of content and activities—today is Day One for Coins.”
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That is what has me thinking of Green Stamps and airline Miles.
They want to reward you for shopping with them with incentives to buy some more.