New Digital Currency Named After Kanye West to Rival Bitcoin?

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2013 was definitely the year of the Bitcoin. This cryptocurrency is enjoying a huge popularity over the last few months. More and more retailers and consumers are now starting to open up to the trend, even though it is not approved by many people. The success of this digital currency has encouraged the creation of other new ones. The latest of them seems to be inspired by rapper Kanye West, since it is called Coinye West.

Like is the case with the majority of cryptocurrencies, Coinye West was created by an anonymous developer. It is scheduled to be released on January 11 (Saturday).

The new digital currency has the slogan “for the masses.” Therefore, it will probably be available for a large number of consumers and it will be easier to use. The people behind the new cryptocurrency have shared for Noisey that it will target mainly people, who are new to digital currency. This mean that it will be slightly different from Bitcoin which is used by dedicated money hoarders.

According to the Coinye West’s developers, soon after the launch of the currency, they will also introduce a mining platform called “CoinyeMiner.” With it, consumers will get the opportunity to mine their own Coinye coins.

Although the currency is named after Kanye West, the rapper is not involved in its creation or marketing. In fact, the artist learnt about it last week via Twitter. Despite that, the creators of Coinye are hoping to get his approval and support. In fact, have shared that they will even send him 100,000 Coinyes as soon as the currency is launched. For now, however, West has not responded to their Tweet or to contact them in any other form.

In case you are wondering why did the creators of the currency choose to name it after the scandalous rapper, the answer is simple. Coinye’s developers explain that the “Gold Digger” performer is a trendsetter who deserved to be honoured in a special way.

Presently, Bitcoin is the most popular cryptocurrency in the world. However, its value continues to be quite volatile. Apart from it, there are many other digital currencies like Litecoin, Namecoin, Ripple and Peercoin.
Now here are two interesting questions: Will the Coinye West currency pick up popularity among users and will it developers create KimCoin alternative? We’ll leave the answers in the hands of time.

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