World Library  
Flag as Inappropriate
Email this Article


Article Id: WHEBN0041558953
Reproduction Date:

Title: Coinye  
Author: World Heritage Encyclopedia
Language: English
Subject: Cryptocurrencies, Cryptocurrency, Mastercoin, MazaCoin, LocalBitcoins
Collection: 2014 Introductions, Alternative Currencies, Cryptocurrencies, E-Commerce, Payment Systems, South Park
Publisher: World Heritage Encyclopedia


Official logo
Date of introduction January 7, 2014
User(s) International
Inflation Limited release, production rate before this limit re-evaluated with the production of every block (at a rate of approximately 1 block per 90 seconds) based on the difficulty with which COINYEs are produced, eventually leading up to a final total of 133,333,333,333 coins.
 Method 1 reward is released per block found. Rewards halve every 100K blocks.

Coinye, formerly Coinye West, is an abandoned[1][2][3] scrypt-based cryptocurrency that became embroiled in a trademark infringement lawsuit for using the American hip hop artist Kanye West as its mascot, despite West having no affiliation with the project.[4][5] The project was abandoned by the original developers following West's filing of a trademark infringement lawsuit against them.[6]


  • Release 1
  • Trademark infringement lawsuit 2
  • Developer departure and community takeover 3
  • Decline of use 4
  • External links 5
  • References 6


Coinye was originally slated for release on January 11, 2014, but legal pressure prompted David P. McEnery Jr.[7] and his development team to release the source code and mining software on January 7, a few days ahead of schedule.[8] Early press materials promised a proper and fair release, with no pre-allocation of coins.[9] However, later statements from the developers confirmed that approximately 0.37% of the maximum money supply of Coinye had been reserved for the creators of the coin before launch.[10] The developers claimed that this was to cover unexpected legal and development costs.

Trademark infringement lawsuit

On January 6, 2014, Kanye West's lawyers sent the development team a cease and desist order on the basis that the then-unreleased currency constituted trademark infringement, unfair competition, cyberpiracy and dilution.[11][12] In response to the legal threats, the development team changed the name of the currency from "Coinye West" to "Coinye" and moved to a new domain name.[13] By January 10, 2014, the development team stated that they had removed all references to West but instead "to a half-man-half-fish hybrid," a nod to a South Park episode in which West fails to realize why people are jokingly calling him a "gay fish."[14] These actions were not sufficient to appease West's legal team and a lawsuit was filed against the creators of the coin, prompting them to sell their Coinye holdings and leave the project.[1]

Developer departure and community takeover

On January 14, 2014, a representative of Coinye announced on Reddit that "the developers basically dumped all their coins on the one exchange and left the scene."[1][15] Coinye's official site was replaced with text reading "Coinye is dead. You win, Kanye.",[16] and the original website is now down.

Although the creators of the project closed down all official Coinye services and have distanced themselves from the parties they labeled “morons trying to revive this coin,”[17] the peer-to-peer coin network is still operational and a group of volunteers has claimed that they will continue development on the coin.[18] However, as of May 2015, no updates to the Coinye source code appear to have been released since the original developers' departure.[19]

Decline of use

Coinye has been called "defunct" by numerous publications.[20][21][22][23][24] Though the coin's peer-to-peer network is itself still functional, Coinye's global block difficulty fell from 78 to 1.012 between January 18, 2014[25] and May 7, 2014,[26] indicating that the network's total processing power fell by roughly 99% during that time.

External links

  • An archive of a web site about the cryptocurrency


  1. ^ a b c
  2. ^
  3. ^
  4. ^
  5. ^
  6. ^
  7. ^
  8. ^
  9. ^
  10. ^
  11. ^
  12. ^
  13. ^
  14. ^
  15. ^
  16. ^
  17. ^
  18. ^
  19. ^
  20. ^
  21. ^
  22. ^
  23. ^
  24. ^
  25. ^
  26. ^
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from World eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.