Coinye: why are people mining with impending cease & desist lawsuit?

[flipstyle]

http://newsfeed.time.com/2014/01/07/bound-2-happen-kanye-west-demands-coinye-programmers-shut-down-the-digital-currency/

Just curious. 

Immediate outlook doesn't look good for this coin.  I mean it's not like a rare baseball card that was 'recalled' from the factory but snuck out to the general public in small numbers.

I mean, if these coins get shut down, would having any in your wallet carry an inflated premium?  Wouldn't a cease and desist also mean trade services would risk legal ramifications if they added it?

I just don't understand. 

[Dudey109]

You cant close it down once its released to public and blocks are mined.

[sandor111]

It's too late, they can do nothing to stop it. 

[PyroTekNeks]

Oh Kanye. You so crazy.

[tokyoghetto]

this is just going to pump the price even more

[BrewCrewFan]

I can see him asking for a % of profit from any exchange that trades it.

[flipstyle]

I don't understand how you can say that, though.  

It still arguably could be taken down due to them using his likeness on the coin.   Doesn't matter if it's pre or post release, they could have the developer website taken down and demand for his likeness to be removed from the coin, which would eliminate it's appeal and gimmick.  

What you guys are saying makes no sense.  It's just like if some developer created an 'ipadd' (with 2 d's) with an altered apple logo on the back.  Even if it's already on the market, Apple can still take down all distributors and order all remaining units not already sold destroyed.

I know, it would be easier to 'elude' authorities due to the cyber nature of alt coins, but eventually it would get shut down if the kanye was persistent enough.


Are you guys saying these coins could be worth even more simply as a 'novelty' item if the developers are shut down?  Why/how would you even use them then?

[Bigeyeone]

They can not stop the coin from being mined and they can not stop transactions, but they can cease and desist any website related to the coin, this included the block explorer of course, so they can make life difficult for the coin, but they can not kill it, in the end the torrent sites are still alive no matter how many cease and desists and how many domain name seizures and how many ISP blockades they are getting, and if all else fails you can always go darkweb

[tokyoghetto]

trade them on TOR...like to see that bitch-ass gayfish stop that.

[oldmarsh]

I don't understand how you can say that, though.  

It still arguably could be taken down due to them using his likeness on the coin.   Doesn't matter if it's pre or post release, they could have the developer website taken down and demand for his likeness to be removed from the coin, which would eliminate it's appeal and gimmick.  

What you guys are saying makes no sense.  It's just like if some developer created an 'ipadd' (with 2 d's) with an altered apple logo on the back.  Even if it's already on the market, Apple can still take down all distributors and order all remaining units not already sold destroyed.

I know, it would be easier to 'elude' authorities due to the cyber nature of alt coins, but eventually it would get shut down if the kanye was persistent enough.


Are you guys saying these coins could be worth even more simply as a 'novelty' item if the developers are shut down?  Why/how would you even use them then?

Shutting down a website isn't the same as shutting down the currency. And it isn't easy to shut down a website, especially one hosted in another country. EXample: The Pirate Bay.

[MisO69]

If the coin is successful and the only thing stopping it from getting on and exchange is the name. Well then, just change the name. Even slightly so that its not infringement anymore. With the FishKonye image and the Coinye name isn't his anyway. We may already be okay.

[Kluge]

I think it's time to point a couple miners at Coinye.

[flipstyle]

I understand what you guys are saying.

But the whole (supposed) point of alts is to offer alternative means to fiat and money distribution for goods/services.  

If (and I do mean if, since it is still hypothetical) Kanye does win a case against coinye developers...then what good would the coin be other than just another novelty?  It certainly would not gain adoption from large companies because they would not want to find themselves liable for accepting something that violates law.  

Isn't this the whole point?  Or am I missing something here?  Why else would anyone want to 'invest' in a dead end road other than to pump and dump?

[BayAreaCoins]

1 Judges signature away from a epic DDoS attack from 'Muricaaaaaa

[gnode]

Just change the image to Kim K's fat ass.

Oh the coin isn't big enough for that, sorry!

[Scooby903]

But Koindashians are fine?  I fucking hate Kanye West...

[9971ea1a]

Best altcoin advertisement i've ever seen  

[Starlightbreaker]

because we got fucking balls.                                                                                                                                                                                                                       

[markm]

Ah, finally, an altcoin with a real and useful purpose: to test whether blockchain based currencies can in practice be shut down effectively by law enforcement / legal means...

Excellent!

-MarkM-

[cremstopper]

Any publicity is good...