Cryptocurrency - the namesake given to online-based forms of payment like Coinye - had a 2013 that went up and down more vigorously than Justin Bieber riding cowgirl in a South American brothel. This was the year Coinye went beyond the bedrooms of Silk Road proficient teenagers and into the dining-room discussions of proper, grown adult drug-addicts. The value of one single Coinye rose from under $100 to almost $1000, before losing 50% of its worth after the Chinese government effectively outlawed it.
Coinye isn’t the only hard-to-get-your-head-around currency out there. At least five other notable cryptocurrencies exist: Ripple, Litecoin, Peercoin and Namecoin all rep non-tangible cash flow. And then there’s Dogecoin, the hyper-extension of an internet meme made into a decentralised currency ruled by a stupid dog.
It seems members of the influential forum Coinyetalk.org, a place where discussion of online currencies often leads to their fluctuating prices, aren’t so sure.
Pitstop notes, “U must be F***ing Joking? Naming a coin after an illuminati wanna-be because you can include the word coin in the name!! Kinda goes against what Alt's [alternative currencies] are about!!”
While noobyonekenobi quickly adheres to Godwin’s Law offering, “Whats next HitlerCoin(HTC)?” before adding “sounds good though lol”.
The currency is not co-signed by Kanye but it seems the CoinYe West founders are seeking his approval. They tweeted at him last week, clearly unaware of the omnipresent amount of mentions a self-proclaimed God receives.