Digital currencies are tricky things. They might seem like a fad or a stupid gimmick, but the fact is one Bitcoin is worth over $800, it’s easily convertible, and more and more online retailers are accepting them (Amazon is speculated to make the leap soon). I’m not an expert on digital currencies, but look up some of the articles on Bitcoin, you’ll see discussions going on about interest in the business world, the benefits it has for people who live in countries with very unstable currencies and inflation rates, or its problematic use on black market sites.
And yet the only news story on Coinye comes from the fact that its creators decided to name it after Kanye West. We’ve barely seen any actual information or stats that don’t relate to its name, and now it’s dead. After summoning the wrath of West, the anonymous creators launched their site early. But that only made Kanye go even harder, threatening to sue any business that accepted it as currency, as well as going after Amazon just for hosting a website affiliated with Coinye, according to Billboard. Now, after just a few days, the website carries only the above image and word that they’ve tanked.
All that said, can we agree Coinye was the dumbest thing that’s happened in a while?