Coinye West? Bitcoin Spinoff Inspired by Rap Star
An entrepreneur looking to cash in on the bitcoin craze will introduce a new monetary exchange next week named after a famously arrogant rapper.
The upcoming Coinye West takes advantage of Kanye West's personal brand, although The Washington Post suggests the makers have a legal fight on their hands.
Coinye West,” scheduled to launch on Jan. 11, is — as the name implies — a digital Kanye-themed currency. Its creators aren’t revealing their names, perhaps because the whole project surely constitutes copyright infringement. But they were, in an interview with Vice, forthcoming on their motives: “Coinye West is a cryptocurrency for the masses. Bitcoin is for hardcore money-hoarders, and Dogecoin was more for the Internet-meme crowds … Our goal with Coinye West is to make it easier for people to use cryptocurrency.
Bitcoin is a peer-to-peer payment system which utilizes cryptography in order to oversee the manufacturing of new "money" as well as transferring the units from one party to the next.
West ranks as the 59th most powerful celebrity according to Forbes.com.