Bitcoin got another music media bump with Lily Allen tweeting that she turned down a bunch of Bitcoin for a live Second Life event a few years back. But who knew? Bitcoin's also now a reference point and inspiration for other cryptocurrencies. The alt currency recently known as Coinye West put Bitcoin in the headlines but also led to legal action. Now dubbed CoinyeCoin, the currency launched early to avoid being squashed. So how long will it take other rappers to launch their own currency?
Lily Allen Regrets Missing Early Adopter $tatus
However loose the details of the tweet, since this offer would have been in the early days of Bitcoin while it was relatively hard to comprehend and certainly appeared unlikely to be worth much, she should probably give herself a break on that one.
Besides, as Dâniel Fraga responded, it's not too late:
Lawyers Attack But Coinye Launches Anyway
Coinye West creators are doing what they can to resist legal restraints. They renamed it the CoinyeCoin, changed their promo image from Kanye to a more generic parody of a rapper, moved the site to an Indian domain and created a CoinyeCoin.org site where they launched yesterday.
Given the nature of cryptocurrencies, I'm not sure you can stop Coinye at this point. Should be interesting to watch play out.
But you know some lower tier rappers are getting set to launch their own cryptocurrencies. It's just a matter of time.
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Hypebot Senior Contributor Clyde Smith (Twitter/Facebook) is building a writing hub at Flux Research. To suggest topics about music tech, DIY music biz or music marketing for Hypebot, contact: clyde(at)fluxresearch(dot)com.