By Sowmya Krishnamurthy
The creators spoke to Noisey about why they invented CoinYe. “Our goal with Coinye West is to make it easier for people to use cryptocurrency. Right now, it’s kind of a dark art for people to mine coins. We plan on releasing a front end to the ’mining’ programs called CoinyeMiner. It will make things a lot more simple and people will be able to make their own coins. We’re working round-the-clock to get everything going as smoothly as possible. ”
As to why they chose Kanye as a namesake, the founders responded, “We chose to represent Kanye because he is and always has been a trendsetter, and he’s always keeping things unique. I can picture a future where Coinye is used to buy concert tickets, with cryptographically verified virtual tickets, and other ideas I can’t give away just yet.”
— Coinye West (@CoinyeWest) December 31, 2013
CoinYe seems to take a page from the rapper’s boastful public image. “Coinye West – Don’t f–k with this coin. January 11th, 2014 , 11:00 PM EST with a *FAIR* release. IN YEEZUS WE TRUST,” the official Twitter handle for the currency reads. Whomever runs the handle has also tried to contact Kanye, who is not a part of the venture. “@kanyewest Kanye, have you ever invested in bitcoin or litecoin? What do you think of @CoinyeWest ?” asked the handle. Kanye has yet to respond.