17 May '13, 3pm

London Calling: Amazon 'Coins' its own currency: via @eetimes

It sounds like an ordinary obscured discount, i.e. a discount that sounds larger than it really is. It's akin to S&H Green Stamps (remember them?) or frequent flyer miles. With Green Stamps your grocer gave you stamps that you pasted into a book. When you had a full book you could redeem it from a catalog of mostly useless stuff. The book gave the illusion that you had something much more valuable than you really did. The same thing is true of frequent flyer miles. The real value of a mile is hard to pin down but the apparent value seems very high because the unit is so small, somewhere in the neighbourhood of a penny, but possibly much less. An Amazon Coin has the value that's exactly a penny so 500 Coins is only worth $5. However 500 Coins sounds much larger than $5 because it's not a common unit. If they said you had 500 pennies in your account you would treat it as wor...

Full article: http://www.eetimes.com/electronics-blogs/other/4414620/Lo...

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