Thanks to the open source nature of bitcoin, that most famous of all digital currencies, just about anybody can create their own alt-coins these days. And increasingly, people are doing just that—and naming them after some of the most popular memes, animals, and personalities on the web.
Most of these cybercurrencies are marginal, especially compared to the roughly $10 billion market for bitcoins—and given their lack of liquidity, they're about as prudent an investment as scratch-off tickets. But regardless of their investment potential, they're nothing if not a reflection of the internet culture that birthed them. From the failed Coinye West to the surprising success of the dogecoin, here are some of the oddest and most interesting additions to the world of digital currency. Invest wisely, friends.
Nyancoin
Mission: "We have partnered with PRguitarman (Nyancat creator) to create the very first cryptocurrency to be officially licenced in history!"
Following in the footsteps of Catcoin, Nyancoin drew its inspiration from one of the internet's favorite things to click on: felines. And not just any cat, but Nyan Cat -- a hybrid cat/Pop Tart hybrid who earned 100 million YouTube views by hurtling relentlessly through space towards a destination it would never reach. (Allegory for existence much?) Nyan Cat has inspired countless ringtones, wallpapers and even video games before somehow turning into an alt-coin. While it's not currently on any exchanges, it does have the support of the meme's original creator; if you head to Nyan Cat's official page now, the iconic Pop Tart of the 8-bit space cat has currently been swapped out for a coin.
Current market value: Unlisted
Dogecoin
Mission: "dogecoin is an open source peer-to-peer cryptocurrency, favored by Shiba Inus worldwide."
Such currency. Doge -- a wide-eyed Shiba Inu whose image is covered in Comics Sans captions -- not only became the most popular meme of 2013, but also the most successful meme-themed altcoin. What started as a joke tweet by creator Jackson Palmer soon became a currency with a market value that has soared to around $60 million. The dogecoin community of has even engaged in some recent philanthropy, donating the dogecoin equivalent of $30,000 to help send the Jamaican bobsled team -- globally beloved since the cinematic tour de force Cool Runnings -- to the upcoming Winter Olympic Games.
Current market value: $59.2 million
Coinye West
Mission: "We chose to represent Kanye because he is and always has been a trendsetter, and he's always keeping things unique… I think he's gonna love that there’s a CURRENCY named in his honor."
Contrary to the hopes of Coinye's creators, Kanye West did not, in fact, love that there was a currency named in his honor. And rater than accepting their generous offer of 100,000 COINYE, the rapper decided instead to give them a gift of his own: a cease-and-desist letter. The creators initially responded by changing the imagery of the currency from West's face to "a half-man-half-fish hybrid who is wearing sunglasses" -- a reference to a South Park episode that parodied Kanye -- but ultimately closed down the project with a post that read, "Coinye is dead. You win, Kanye."
Current market value: N/A (Kanye shrug)
Norris Coin
Mission: "Chuck Norris doesn’t give a fuck about the 10 KnC ASIC miners you stockpile in your parent’s basement. He’s gonna roundhouse kick you in the face the next time you go buy your XXL Grilled Stuft Burritos from Taco Bell. SHIT GETS REAL ON JANUARY 14, 2014, 10:00 PM EASTERN TIME. Norris Coin (NOR) gets dropped into the crypto-economy battlefield to distribute a fair amount of pain, roundhouse kicks, rockets, headache and of course, distributive justice."
We've learned a lot of facts about Chuck Norris over the years on the Internet, but most of them revolve around a simple premise: You do not mess with him. It's a lesson that the creators of the Norris Coin recently learned when lawyers for the former *Walker, Texas Ranger *star sent a Notice of Infringement to the "roundhouse-kick solutions to centralized banking problems" prior to its launch. Much like anyone foolish enough to challenge Chuck Norris, the Norris Coin never had a chance.
Current price: N/A
Craftcoin
Mission: "Connecting Minecraft communities through portable digital currencies
Based on Litecoin, CraftCoin was designed as currency for use on servers for the Minecraft servers, as well as outside of them. While Minecraft isn't a meme, precisely, the sandbox building game has become a universe unto itself, where fictional worlds are reconstructed with unimaginable intricacy and users construct working computers and even 3D printers. In a world where jaw-dropping structures are regularly built out of digital bricks, why wouldn't they, too, make their own currency out of nothing?
Current market value: $81,505
RonPaulCoin
Mission: "Ron Paul, although not a programmer, has already begun to investigate and discuss the implications of this technology. We hope that he will help to promote the cause of decentralized currency further!"
Out of all the politicians to put on an altcoin, Ron Paul at least makes ideological sense. The creators of the RonPaulCoin, who called the former Congressman "the leading champion of financial freedom and economic transparency" launched hope that Paul would be supportive of the coin, and unlike Chuck Norris and Kanye West -- he was. Paul reacted positively when he learned about the currency, telling CNBC that he supported it as long as there was no fraud involved. "It's fascinating to me... I have been for a long time advocating competing currencies."
Current market value: $296,895
Sexcoin
Mission: "Super Sexy and Delicious. SXC aims to provide adult content consumers, performers and producers a fast, stable and secure method of accepting micro transactions."
If defining elements of internet culture are making their way into cybercurrency, really, how could sex be excluded? And unlike some of the entries on this list, it seems to have a practical intent: offering performers, creators and consumers of adult content a more privacy way to exchange money.
Current market value: $1.15 million
ShitCoin
Mission: "ShitCoin will be the biggest POS coin you've ever seen."
Inspired by the deluge of cryptocurrencies that were all hype and no substance, Bitcoin forum member Vlad2Vlad announced that he would be launching a newer, more honest form of alt-currency: ShitCoin. "I'm so tired of seeing so many CrapCoins pop up everyday and nobody at least admits their coin is total dogshit. So I'm Launching a new coin in hopes this will jump the CrapCoin Shark: SHIT." With a maximum of 500 trillion coins, the Shitcoin is designed to be functionally worthless -- its own commentary on the influx of would-be bitcoins.
Current price: N/A
