Amazon introduces not-Bitcoins

Yesterday announced the “Amazon Coin,” a virtual currency to be used to make in-app purchases and more on their Kindle Fire platform. Bitcoiners, of course, are seething with jealousy, since Amazon is a name that’s actually trusted and isn’t involved with shady black markets that are facing increased attention from police.


One Bitcoiner almost gets it:

So, it’s just like paying with your credit card the way you do now, except more complicated, involves you paying more than what you actually need to buy, forces you to trust someone else to hold on to your money, and gives you coins that you can’t sell back, which are completely useless outside of Amazon. Is it just me, or does this seem like a totally useless idea that misses all the points of having a virtual currency?

They are so close to understanding…