Amazon coins: A brilliant 1st stab at digital currency
Soon Kindle Fire owners will be able to purchase apps using virtual money.
You won't be able to throw it in a piggy bank, but Amazon (AMZN) hopes its newly minted digital currency will be a hit with users.
If you have a bunch of coins left to spend, for example, you're less likely to jump ship to an iPad Mini or a Nexus 7 the next time you have to upgrade your hardware. Remember, the company already takes a financial hit (at VentureBeat) with every Kindle Fire it sells -- so Jeff Bezos has no qualms about losing a few bucks to keep consumers locked in for the long-term. (Via CNET, Los Angeles Times)
Enlighten customers should avoid these kind of promos. Free, no down payment all that gets you into something you may regret tomorrow.
This is the way we are losing our economic, political and social freedom. It is a bait and not really help. Once you are in their fist, you can scream but it is hard to turn clock back.
There should be law that conditions should not be onerous and customer should have freedom to walk away at ay time without penalty at their own choosing.
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The market's cheap money addiction is laid bare. No one knows how it will end.
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