Coinye invites legal action and regulation against all crypto currencies?

[hypostatization]

It is good for a laugh, but I am concerned that legal action against Coinye could be used to establish damaging legal precedent in US courts, and ultimately provide basis for regulations.

While its developers may be anonymous, anyone profiting from the coin could become a target for legal action. Exchanges, pools, investors, and even miners could potentially become vulnerable. Crypto currencies are still a legal grey area, with little case precedent. It would suck to see all of crypto damaged, just to let a joke play out.

I am more amused by it than any other currency, but would like to ask the devs to consider any potential unintended negative fallout.

Rename it to Gay Fish coin and see if the lawyers back down?

It would be just as amusing to see them base a claim against that.

[albertdros]

It is good for a laugh, but I am concerned that legal action against Coinye could be used to establish damaging legal precedent in US courts, and ultimately provide basis for regulations.

While its developers may be anonymous, anyone profiting from the coin could become a target for legal action. Exchanges, pools, investors, and even miners could potentially become vulnerable. Crypto currencies are still a legal grey area, with little case precedent. It would suck to see all of crypto damaged, just to let a joke play out.

I am more amused by it than any other currency, but would like to ask the devs to consider any potential unintended negative fallout.

Rename it to Gay Fish coin and see if the lawyers back down?

It would be just as amusing to see them base a claim against that.

they already changed everything so that it will not be easy for Kanye to come after them. They have lawyers and they do know what they are doing. They could lose, but i'm sure 'we' miners are safe lol.

[hypostatization]

It is good for a laugh, but I am concerned that legal action against Coinye could be used to establish damaging legal precedent in US courts, and ultimately provide basis for regulations.

While its developers may be anonymous, anyone profiting from the coin could become a target for legal action. Exchanges, pools, investors, and even miners could potentially become vulnerable. Crypto currencies are still a legal grey area, with little case precedent. It would suck to see all of crypto damaged, just to let a joke play out.

I am more amused by it than any other currency, but would like to ask the devs to consider any potential unintended negative fallout.

Rename it to Gay Fish coin and see if the lawyers back down?

It would be just as amusing to see them base a claim against that.

they already changed everything so that it will not be easy for Kanye to come after them. They have lawyers and they do know what they are doing. They could lose, but i'm sure 'we' miners are safe lol.

I would not be so certain. If it is determined that miners are profiting through infringement...

Honestly, the devs may be the least vulnerable.

[odolvlobo]

At worst it is a trademark issue, and Kanye might threaten to sue sites that display the name.

[Snard]

they already changed everything so that it will not be easy for Kanye to come after them. They have lawyers and they do know what they are doing. They could lose, but i'm sure 'we' miners are safe lol.

Knowing what they are doing is a very strong statement. Never assume its not easy for someone to come after you. In fact its very easy to do so. Whether they win is a different story, but I can assure you the group of people who put the coin together will be out a pretty penny for legal expenses.

[hypostatization]

At worst it is a trademark issue, and Kanye might threaten to sue sites that display the name, but even that is unlikely. Parody is protected speech in the U.S.

Any established precedent can damage crypto currencies, potentially even from a favorable ruling for the individual target of legal action.

[hypostatization]

Consider Obamacare being upheld by the supreme court on the basis of determining the fee is actually a tax, and therefore legal.