Coinye West, Potential or Scam?

[BigBoiBets]

http://www.independent.co.uk/news/b...-virtual-currencythe-coinye-west-9038055.html
This coin, that's due to be released on the 11th January.
Started from a simple tweet to Kanye West
"@kanyewest Kanye, have you ever invested in bitcoin or litecoin? What do you think of @CoinyeWest ?"
has caught the eye of the likes of Yahoo, NME the BBC, and way more huge media campaigns.
The recent dogecoin grew a lot upon first launching, and then decended.
But the casino doge-coin.com got $5m worth of bets in the first week.
So I was thinking and with all the advertisement this coinye coin is getting could it follow the same trail as dogecoin? Or not?
Is it just an anticipated set-up, to exploit users?

 

[Supplication]

Scam. #100% noone is going to stick with that lol

 

[Cas]

Meh all new cryptocoins think they are the shit, this is shit.
Might buy a few k for the lols, not sure.

 

Its a scam, the owners have a massive stake in the currency already.

 

[R2Pleasent]

Its a scam, the owners have a massive stake in the currency already.

AKA Pre-mine, AKA scamcoin

Beware of these alt-coins which are pre-mined. They are essentially pyramid schemes. The founders mine up a huge amount, release to the public, and people are trading with ~5% of the volume driving up prices. At some point, the founders decide the price / demand has hit the right point, and they dump a huge amount of pre-mined coins on the market.

 

[zgangz]

Almost all alt coins are premined and have little to no difrences between pre existing coins.

 

[TJOC]

AKA Pre-mine, AKA scamcoin

Beware of these alt-coins which are pre-mined. They are essentially pyramid schemes. The founders mine up a huge amount, release to the public, and people are trading with ~5% of the volume driving up prices. At some point, the founders decide the price / demand has hit the right point, and they dump a huge amount of pre-mined coins on the market.

Wow, thank you. Wasn't aware of that. I'm not that interested in anything other than LTC/BTC anyways, but this'll diffidently keep me away from them now.

Thanks.

 

[Mad Z]

Even if it is just a pump and dump pre-mine scam, I'm liking the new logo.

 

[BigBoiBets]

Seems legit

 

[R2Pleasent]

Well, if you're interested in a high risk investment, get some Koinye, ride the tide for a minute, and GTFO (secure that profit)

EDIT: Nvm, looks like tough roads ahead for Coinye. The developers are being threatened by Kanye's lawyers and are being asked to shut it down.

Source: http://www.pcworld.com/article/2085...ck-coinye-a-digital-currency-he-inspired.html

In their letter, attorneys asked for the Coinye team to comply with their demands by early evening on Monday. “If you fail to comply with these demands, we will notify the cryptocurrency community at large of your infringing actions and pursue all legal remedies against any business that accepts the purported Coinye West currency,” they said.

 

[Mad Z]

Well, if you're interested in a high risk investment, get some Koinye, ride the tide for a minute, and GTFO (secure that profit)

EDIT: Nvm, looks like tough roads ahead for Coinye. The developers are being threatened by Kanye's lawyers and are being asked to shut it down.

Source: http://www.pcworld.com/article/2085...ck-coinye-a-digital-currency-he-inspired.html

Also, it was massively pre-mined. Good on the devs for causing quite the hype and making a good profit though.

 

That's interesting, I was also under the impression that it was officially endorsed. Even read something about being able to purchase concert tickets using the currency. Very clever on the developers part, although I don't think it can go very from from this point.

 

[kailahopkins]

Could be a potential scam, really. Coinye West is set to be released this January 11, but Kanye West desist the promotion of the Bitcoin-style cryptocurrency.

 

[Liuwqf]

Scam coin made by people who are looking for a quick profit by premining the shit out of their coin