Kanye West inspires new currency

Added 3rd January 2014

Bitcoins just not blinging enough for you? How about Coinye West, a new cryptocurrency inspired by flamboyant rapper Kanye West?

Kanye West inspires new currency

As reported on various news sites, and illustrated at coinyewest.com, the currency will launch on 11 January with the catchphrases “we ain’t minin’, we pickin” and “we takin’ shots at Bitcoin”.

In an interview with music website Noisey, a spokesperson behind the new venture said the goal was to “make it easier for people to use cryptocurrency”.

West himself has not authorised the launch, though the spokesperson offered to send him 100,000 Coinyes if he was to “name check” the idea.

In November, the value of the Bitcoin surged to almost $1,000, but its prospects were hit last month when the People’s Bank of China announced it was prohibiting Chinese financial institutions from using it.

Other cryptocurrencies have been launched in recent months including Ripple, Litecoin, Peercoin and Namecoin.
 

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Gary Shepherd

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Gary joined Last Word Media in 2009, becoming editor of Portfolio Adviser a year later. Previously, he worked at Incisive Media with roles across its Professional Adviser, Investment Week, Bloomberg Money and Mortgage Solutions titles. Gary has been shortlisted for various awards, winning Headline Money Investment Writer of the Year in 2010.

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