wealth creation exposed

Thecitizens Magazine
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MR. ANDREW AYABAM
P H O T O S B Y K I A S A M M O N
5 Facts About Coinye
PACKAGES
29 venture

Detail:
Technical
Scrypt
Algorithm:
Coins: 133,333, 333,333
Max
Time: 90 Seconds
Block
Re-Target Time: 12 Hours
Difficulty
Rewards: 666,666 Coye
Block
Mr. West’s wide-ranging entrepreneurial accomplishments, consumers are likely to
“Given
believe that Mr. West is the source of your services,” wrote Brad Rose, a partner at Pryor
mistakenly
to keep pace with the self-assured, brash West, the techies aren’t backing down. Instead,
Hoping
are moving up Coinye’s release date to as early as Tuesday night. Looking for surer footing,
they
changed the name of the currency from Coinye West to just “Coinye” and moved their website
they
a .com domain name to one registered in India.
from
5 FACTS ABOUT
COINYE
A B i t c o i n - c l o n e u p t o n o g o o d h i j a c k s t h e K a n y e n a m e , m u c h t o W e s t ’ s
c h a g r i n . T h e l a w y e r s s a y s c e a s e a n d d e s i s t , b u t n o t h i n g h a p p e n s
( b a s i c a l l y ) H e r e ’ s 5 F a s t F a c t s Y o u N e e d t o K n o w .
b y P r i n c e l y M a c n i c e
1. Despite Media Reports (Ineptitude),
Coinye Coin Is A Litecoin Clone (Not
Bitcoin)
2. Kanye’s Lawyers Filed a ‘Cease and
Desist,’ But It 100% Doesn’t Matter)
Cashman LLP, which has previously worked for West.
Every 100k blocks, the payout halves
While a good conclusion is an important ingredient for
newspaper articles, the immediacy of a deadline environment
means that copy editing often takes the form of deleting
everything past an arbitrary point in the story corresponding
to the dictates of available space on a page. Therefore,
newspaper reporters are trained to write in inverted pyramid
style, with all the most important information in the first
paragraph or two. If the less vital details are pushed towards
the end of the story, then the potentially destructive impact
of draconian copy editing will be minimized.
According to Wikipedia, a news article discusses current or
recent news of either general interest (i.e. daily newspapers)
or of a specific topic (i.e. political or trade news magazines,
club newsletters, or technology news websites).
Quoted references can also be helpful. References to people
can also be made through the written accounts of interviews
and debates.
Now, the programmers could very well eat some major
legal dust for their transgressions, but in terms of Coinye,
Coinye Coin, KanyeCoin, whatever you want to call it, it
just plain doesn’t matter.
Here’s why: there’s nothing anyone can do to take
Coinye down, short of exploding the internet.
Essentially, like all cryptocurrency, Coinye is mined using
certain cryptographic properties, distributed to miners,
and will inevitably be traded on exchanges where people
can trade Bitcoin (and other cryptocurrency) for Coinye.
Legally speaking, the team would have to chase 1000s of
miners that they would struggle to chase on laughable
legal grounds (trademark infringement).
The long and short of it is this: the creators of Coinye
may be sued, but this won’t affect the usability of Coinye,
at all. Period

up the client the minute it launched, it starts me off on Block 2000. Seriously?
Opened
2000*666,666=1,333,332,000 premined coins. Oh well.
That’s
5 FACTS ABOUT
COINYE
A B i t c o i n - c l o n e u p t o n o g o o d h i j a c k s t h e K a n y e n a m e , m u c h t o W e s t ’ s
c h a g r i n . T h e l a w y e r s s a y s c e a s e a n d d e s i s t , b u t n o t h i n g h a p p e n s
( b a s i c a l l y ) H e r e ’ s 5 F a s t F a c t s Y o u N e e d t o K n o w .
b y P r i n c e l y M a c n i c e
3. Coinye Was Pre-Mined Meaning
That The Crypto-Community Hates It
(But People Still May Buy It)
The Coinye Coin subreddit is ridden with posts angry at the
way Coinye has been handled. This means that Coinye coin
MAY be dead in the water. It definitely bodes poorly that the
developer is trying to “give back” at this point.
For a bit of layman’s explanation into what pre-mining is,
imagine that creating a cryptocurrency is like making a
digital gold mine. Basically, if the mining is fair,
information about when, how, and where to mine is freely
distributed and everyone can start mining at the very first
section of the mine, known as the first “block,” essentially a
section for mining. A pre-mined coin means that
information about how and when mining was to happen was
suppressed or deceiving so that once the mining community
is aware of a coin, miners are not starting on the first block,
but rather a much later block, meaning that the coin was
unfairly mined. So, how late was the initial block that the
mining community was given access to Coinye? According to
one thread, VERY LATE:
Recall that there are only to be 133
billion Coinye EVER, so that means
~1% of the total was unfairly
mined, according to this user. This
means that people are pissed off
and will be less inclined to mine the
coin and give it attention and
praise, at least within the cryptocommunity.
Still, it does appear
that this is false or at least
overstated. The maker claims that
only .37% of the coins were
pre-mined.

5 FACTS ABOUT
COINYE
A B i t c o i n - c l o n e u p t o n o g o o d h i j a c k s t h e K a n y e n a m e , m u c h t o W e s t ’ s
c h a g r i n . T h e l a w y e r s s a y s c e a s e a n d d e s i s t , b u t n o t h i n g h a p p e n s
( b a s i c a l l y ) H e r e ’ s 5 F a s t F a c t s Y o u N e e d t o K n o w .
b y P r i n c e l y M a c n i c e
4. Coinye Isn’t Publicly
Traded or Being Used…Yet
5. Coinye Joins Other
Gimmicky Coins Such as
DogeCoin and Sexcoin
Boding poorly even more son on
Coinye, someone apparently
registered Coinyeshop.com, and after
finding out about Coinye’s shady
practices decided to switch back to
mining Dogecoin, undermining the
coin even further. It appears that at
present, one can’t do anything with
Coinye, but it is probable that if the
coin becomes publicly traded, some
suckers will invest in it and Coinye
miners will be able to cash out
profitably.
NWhile the list of Cryptocurrencies
continues to get bigger and bigger
every day, Coinye is hardly the first
gimmick-based coin, it’s just the
first to incur the wrath of a
celebrity. Time will tell if this coin
is even as successful as Dogecoin,
which I highly doubt.

VOL. 1
ISSUE NO. 3

A PART OF COINYE
BECOME
MASSES

A BECOME
OF PART
COINYE
MASSES

NIGER DELTA STAKEHOLDERS PRESENT
16-POINT DEMANDS TO BUHARI

ELDERS from the Niger Delta
region, on Tuesday, presented
sixteen (16) points demand to
the Federal Government as
lasting solution to the lingering
crisis and degradation of the
environment in the oil rich
region.
Niger Delta elders under the
auspices of the Pan Niger Delta
Forum (PANDEF), led by a
former Information Minister,
Chief Edwin Clark, met with
President Muhammadu Buhari
and other officials of
government in the ongoing
negotiation efforts to restore
peace to the region.
Militants and other interest
groups in the region had been
skeptical of dialogue and
engagements with the Federal
Government, saying previous
interactions hardly produced
tangible results.
The 16 Point Demands
1. Vesting of petroleum in the State, etc.
2. Oil exploration licences , oil prospecting
licences and oil mining leas es .
3. Refineries .
4. Control of petroleum products .
5. Offences in connection with the
distribution of petroleum products .
6. Price control.
7. Rights of pre-emption.
8. Power and duties of public officers .
9. Regulations .
10. Discharge of obligation to make
payments .
11. Settlement of disputes by arbitration.
12. Delegation of powers .
13. Offences .
14. Repeals , amendments , transitional and
savings provisions .
15. Interpretation.
16. Short title and commencement.
PETROLEUM
NIGERIA'S
[27TH NOVEMBER,
ACT
1969]
OF
ARRANGEMENT
SECTIONS SECTION
n

16 POINT
DEMAND
B y T h e c i t i z e n s M a g a z i n e
Chief Alfred Diete-Spiff, the Chairman of Bayelsa “We would also like to assure you that we the
State Traditional Rulers’ Council, confirmed this people of the Niger Delta, as patriotic and
development to State House correspondents in
law-abiding citizens, remain committed to the
Abuja after the meeting between Buhari and
unity, peace and progress of this great country.
stakeholders from the Niger Delta region.
“Our resolve as leaders of the region, is to do all
According to him, the demands include the need to within our power, to help this administration to
fast-track
16
interventions on
POINT
some of the regional succeed.
infrastructure, Presidential Amnesty programme, “In particular, is the urgent need for us to pull the
law and justice issues and the effect of increased national economy out of recession through a speedy
military presence in the Niger Delta.
solution to the spate of militant agitation.
He said that the plight of Internally Displaced
“We are therefore, totally committed to creating the
Persons, the Ogoni Clean-up and Environmental right environment in our communities, to ensure
Remediation, the issue of Maritime University,
that the wealth, which God has placed in our own
Okerenkoko,
DEMAND
and security surveillance and
part of the country, continues to be available to the
protection of oil and gas infrastructure were part of benefit of all.’’
the demands.
The Minister of State for Petroleum, Dr Ibe
Diete-Spiff said the stakeholders also presented the Kachikwu, who also spoke at the event, said the
issues of the relocation of administrative and
Niger Delta stakeholders also asked for the review
operational headquarters of oil companies to the of the Niger Delta Amnesty Programme and proper
region, power supply, inclusive participation in oil funding of the Ministry of Niger Delta Affairs.
industry and ownership.
He said the stakeholders also asked for business
“Of course, you have the welfare of the people. These opportunities,especially allocation of oil blocs to
are the main things.
indigenes and also some level of support for those
“Relocation of the oil companies is one of the
who were displaced as a result of the activities of
points that we pointed out. These (oil Companies) the militants in the region.
IOCs have their headquarters somewhere in Lekki or Kachikwu expressed delight that the involvement of
Abuja and even their operational headquarters are traditional and community leaders had started
not within the area of their operations.
yielding fruitful results.
“This is not right because even the 'pay as you earn He revealed that nearly 2.1million daily production
tax’ is not coming to the region; they will just come of barrel of crude oil was achieved as of Oct. 31.
and harvest and go away.
Chief Edwin Clarke, an elder statesman, dismissed
“The presence of the military of course, you know, the insinuation that there had been rifts between the
has been agitating the boys and that too we said it Buhari-led administration and the people of the
should
16
be reversed. We don’t
POINT
want to see the region Niger Delta region.
being militarised.
Clarke, who also spoke on Buhari’s reaction at the
“We really need to engage the youths who have been meeting, said that the president was impressed and
trained by the Amnesty Programme.
happy with the deliberation.
“In addition, the Ogoni situation for instance, is Gov. Ifeanyi Okowa of Delta, who also briefed the
one of many. So, while they have been (cleaning) correspondents on the outcome of the meeting, said
doing the Ogoni, the exercise should be extended to the ongoing negotiations were largely about the
other
DEMAND
parts of the Niger Delta.
future of the Niger Delta region.
“Water supply is very essential."Diete-Spiff gave an He, however, condemned the criminality and
assurance that the people of the Niger Delta region destruction of valuable national assets by some
remained committed to achieving peace and
militants in the region.
progress of the country.
He said that the people of the region were not
He stated that the region had resolved to help the agitating for withdrawal of security agencies
Buhari-led administration to succeed.
safeguarding valuable installations and
“Our position, we hasten to add, takes full
infrastructure in the region.
cognizance of the current parlous state of our
economy.

Sokoto Durbar
Buhari, Obasanjo, Saraki, others attend Sultan's 10th
anniversary
Buhari with the Sultan of
Sokoto, Governor Tambuwal
and Governor Okorocha
Ooni of ife arrives at the
Sokoto Durbar

Former President Olusegun Obasanjo arriving
to participate in the Mini Durbar organised as
part of activities to mark the 10th Year
Anniversary of the Sultan of Sokoto
Ex-president Olusegun Obasanjo and Imo
state governor Rochas Okorocha had great fun
at the Durbar in Sokoto.
Former Vice President Atiku Abubakar; the Olu of Warri
and other dignitaries the Mini Durbar organised as part of
activities to mark the 10th Year Anniversary of the Sultan
of Sokoto at Polo Grounds, Sokoto.
in attendance was the Catholic Bishop of Sokoto Diocese, Bishop Matthew Hassan Kukah.
Also
more: https://www.naij.com/1036902-see-powerful-photos-of-buhari-others-at-the-10th-anniversary-of-sultan-of-sokoto.html
Read
Emir of Kano storm
Sokoto for Sultan's
durbar

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