Meet Coinye West, the Kanye-inspired Bitcoin alternative for normal folk

The technology is designed to bring digital currency to the masses

By , IDG News Service |  Networking

Making digital currencies like Bitcoin more accessible to a less technical audience may be a good marketing strategy, given the complexity and strangeness of it all. Describing how Bitcoin works is not easy, and a good number of people still don't even know what it is. Apart from the currency itself -- and some experts say it's not even a currency -- there are a range of ancillary services such as exchanges, payment processors and so-called wallets to understand.

While libertarians, venture capitalists and others have enthusiastically embraced Bitcoin and other digital currencies, governments and financial regulators are still not quite sure what to make of them. In recent weeks, authorities in New Zealand, Denmark and the European Union have issued warnings against the technology, which might threaten its viability. In the U.S., federal officials have offered cautionary support for it.

The developers of Coinye West, however, don't seem concerned. They dismissed the government's growing interest in digital currency and used an expletive to indicate their lack of concern for law enforcement.

Zach Miners covers social networking, search and general technology news for IDG News Service. Follow Zach on Twitter at @zachminers. Zach's e-mail address is zach_miners@idg.com

Join us:
Facebook

Twitter

Pinterest

Tumblr

LinkedIn

Google+

Answers - Powered by ITworld

Join us:
Facebook

Twitter

Pinterest

Tumblr

LinkedIn

Google+

Ask a Question