13 May '13, 1pm

@verge

@verge

The e-commerce giant is offering an escalating discount, up to 10 percent for $100 spent on coins, for customers who convert US dollars in bulk into Coins. There are several reasons why launching such a new exchange medium may be to the company's advantage. But many companies have tried their hand at proprietary virtual currencies in the past — from Facebook Credits to Microsoft Points — and none have really taken off in any big way, especially compared to the decentralized virtual currency du jour, Bitcoin. In order to succeed whether others have fallen short, Amazon needs to convince customers that Coins are at least as easy as paying with real money, and it seems unlikely that a bulk discount is enough to do that

Full article: http://www.theverge.com/2013/5/13/4326206/amazon-launches...

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