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I doubt sellers will want to accept it. You can't pay your taxes with Bezos-bucks.

toast0 5y ago
I assume when I buy something from an Amazon merchant, Amazon pays them in their local currency, regardless of which currency I chose to pay with. If they've got BezoBucks now, I assume paying with those still sends USD to US vendors and UKP to UK vendors and EUR to European vendors, etc. I still don't see a big upside for Amazon, but merchants wouldn't need to accept it. And of course, Amazon could incentivize merchants to use it. Maybe if you take it, you get 1% more value than if you take USD and spend it on the site/AWS.
- davidcbc 5y ago
  What value do BezoBucks add in this scenario? They can already convert USD to other currencies to pay their vendors. Just like Facebook's cryptocurrency it's just a solution in search of a problem.
  - dontblink 5y ago
    Hedge against the dollar backed by commodities effectively. Imagine if the dollar fluctuated widely (say because of inflation) but BezosBucks does not. Your buying power stays the same (while BezosBucks becomes more expensive to buy into over time).
  - toast0 5y ago
    Well if I'm a small Amazon merchant, like maybe I just sell my used books, and I'm an Amazon customer too, if Amazon could send me $100 for my monthly sales, and I'm planning to spend $101 on Amazon this month anyway... If they send me 101 Bezobucks instead, I'm happy because they gave me $101 of value; they're happy because for that $101 purchase, they got $100 value; if I paid with a rewards credit card, they would probably get $98-$99. Why it would need to be a cryptocoin thing instead of just a gift card/credit, I don't know. Cryptocoins are hot for reasons that don't resonate with me. Maybe some way around gift card laws, and if they can back into foreign remittances without needing a money transmital license, it could be useful.
rualca 5y ago
Amazon already have an internal currency in the form of its store card. I doubt sellers would say no to a sale if a client offered to purchase it with a blockchain store card.
- WalterSear 5y ago
  There's no point to using a blockchain in this scenario, and lots of good reasons not to.
deevolution 5y ago
You can't pay taxes in bezos-bucks right now, but you maybe able to in the future https://www.bloomberg.com/news/articles/2021-02-11/miami-mayor-pushes-crypto-with-offer-to-pay-workers-in-bitcoin https://www.bloomberg.com/news/articles/2021-02-11/miami-may...

I assume when I buy something from an Amazon merchant, Amazon pays them in their local currency, regardless of which currency I chose to pay with. If they've got BezoBucks now, I assume paying with those still sends USD to US vendors and UKP to UK vendors and EUR to European vendors, etc. I still don't see a big upside for Amazon, but merchants wouldn't need to accept it. And of course, Amazon could incentivize merchants to use it. Maybe if you take it, you get 1% more value than if you take USD and spend it on the site/AWS.

davidcbc 5y ago
What value do BezoBucks add in this scenario? They can already convert USD to other currencies to pay their vendors. Just like Facebook's cryptocurrency it's just a solution in search of a problem.
- dontblink 5y ago
  Hedge against the dollar backed by commodities effectively. Imagine if the dollar fluctuated widely (say because of inflation) but BezosBucks does not. Your buying power stays the same (while BezosBucks becomes more expensive to buy into over time).
- toast0 5y ago
  Well if I'm a small Amazon merchant, like maybe I just sell my used books, and I'm an Amazon customer too, if Amazon could send me $100 for my monthly sales, and I'm planning to spend $101 on Amazon this month anyway... If they send me 101 Bezobucks instead, I'm happy because they gave me $101 of value; they're happy because for that $101 purchase, they got $100 value; if I paid with a rewards credit card, they would probably get $98-$99. Why it would need to be a cryptocoin thing instead of just a gift card/credit, I don't know. Cryptocoins are hot for reasons that don't resonate with me. Maybe some way around gift card laws, and if they can back into foreign remittances without needing a money transmital license, it could be useful.

rualca 5y ago

Amazon already have an internal currency in the form of its store card. I doubt sellers would say no to a sale if a client offered to purchase it with a blockchain store card.

WalterSear 5y ago
There's no point to using a blockchain in this scenario, and lots of good reasons not to.

deevolution 5y ago

You can't pay taxes in bezos-bucks right now, but you maybe able to in the future https://www.bloomberg.com/news/articles/2021-02-11/miami-mayor-pushes-crypto-with-offer-to-pay-workers-in-bitcoin https://www.bloomberg.com/news/articles/2021-02-11/miami-may...