{"id":516,"date":"2018-02-20T19:10:40","date_gmt":"2018-02-21T00:10:40","guid":{"rendered":"https:\/\/curvedcapital.com\/?p=516"},"modified":"2018-02-20T19:10:40","modified_gmt":"2018-02-21T00:10:40","slug":"newyorkcoin-gains-traction-cryptocurrency-circles","status":"publish","type":"post","link":"https:\/\/curvedcapital.com\/newyorkcoin-gains-traction-cryptocurrency-circles\/","title":{"rendered":"NewYorkCoin Gains Traction in Cryptocurrency Circles"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignleft size-medium wp-image-517\" src=\"data:image\/gif;base64,R0lGODdhAQABAPAAAP\/\/\/wAAACwAAAAAAQABAEACAkQBADs=\" data-lazy-src=\"https:\/\/curvedcapital.com\/wp-content\/uploads\/2018\/02\/BN-XN979_NYMETR_M_20180220113536-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" data-lazy-srcset=\"\/\/curvedcapital.com\/wp-content\/uploads\/2018\/02\/BN-XN979_NYMETR_M_20180220113536-300x200.jpg 300w, \/\/curvedcapital.com\/wp-content\/uploads\/2018\/02\/BN-XN979_NYMETR_M_20180220113536-768x512.jpg 768w, \/\/curvedcapital.com\/wp-content\/uploads\/2018\/02\/BN-XN979_NYMETR_M_20180220113536-1024x682.jpg 1024w, \/\/curvedcapital.com\/wp-content\/uploads\/2018\/02\/BN-XN979_NYMETR_M_20180220113536.jpg 1280w\" data-lazy-sizes=\"(max-width: 300px) 100vw, 300px\" \/><noscript><img loading=\"lazy\" class=\"alignleft size-medium wp-image-517\" src=\"https:\/\/curvedcapital.com\/wp-content\/uploads\/2018\/02\/BN-XN979_NYMETR_M_20180220113536-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"\/\/curvedcapital.com\/wp-content\/uploads\/2018\/02\/BN-XN979_NYMETR_M_20180220113536-300x200.jpg 300w, \/\/curvedcapital.com\/wp-content\/uploads\/2018\/02\/BN-XN979_NYMETR_M_20180220113536-768x512.jpg 768w, \/\/curvedcapital.com\/wp-content\/uploads\/2018\/02\/BN-XN979_NYMETR_M_20180220113536-1024x682.jpg 1024w, \/\/curvedcapital.com\/wp-content\/uploads\/2018\/02\/BN-XN979_NYMETR_M_20180220113536.jpg 1280w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/noscript><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>In Manhattan, a cup of coffee will set you back about $2. Or .00098 Bitcoin. Or\u2014here\u2019s a new one\u201412,500 NewYorkCoins.<\/p>\n<p>Never mind alternative currencies such as Tigercoin, Ethereum and BiblePay. There\u2019s a cryptocurrency named for our fair city, and it\u2019s gaining momentum.<\/p>\n<div class=\"paywall\">\n<p>Last week, I met two of the coin\u2019s volunteer boosters at Gila\u2019s Nosh on East 23rd Street, one of several local businesses accepting NewYorkCoin as payment.<\/p>\n<p>James Burrell, a high-energy business lawyer, and Charles Fulnecky, a low-key developer, explained the currency\u2019s features.<\/p>\n<p>Transactions are confirmed in 30 seconds\u201420 times faster than Bitcoin, they said. And there\u2019s no network fee on small transactions like buying groceries, making it ideal for daily use.<\/p>\n<p>Of course, like most cryptocurrencies, NewYorkCoin runs on open-source code available to anyone online.<\/p>\n<div class=\"media-object\n          header\n    scope-web|mobileapps\n   header\" data-layout=\"header\n              \" data-layout-mobile=\"\"><\/p>\n<div class=\"media-object-video media-object-video--standard\">\n<div id=\"9048C9B8-FD9D-48DF-8A06-D13A8F771855\" class=\"video-container video-player video-player\" data-src=\"9048C9B8-FD9D-48DF-8A06-D13A8F771855\" data-format=\"standard\" data-esplash=\"\" data-msplash=\"\" data-suppressheadline=\"false\" data-verticalstill=\"\">\n<div id=\"wrapper-9048C9B8-FD9D-48DF-8A06-D13A8F771855\" class=\"video-wrapper\">\n<div id=\"video-loading-9048C9B8-FD9D-48DF-8A06-D13A8F771855\" class=\"video-loading\">\n<div class=\"video-loading-inner\">\n<div><\/div>\n<\/div>\n<\/div>\n<p><span style=\"font-family: 'Palatino Linotype', 'Book Antiqua', Palatino, serif;\">Bitcoin&#8217;s price has risen more than 900% this year, but it&#8217;s seen wild fluctuations ranging from 44% up or 25% down against the dollar. The WSJ\u2019s Thomas Di Fonzo visits New York City&#8217;s bitcoin ATMs to demonstrate just how volatile the virtual currency can be in just a day. Photo: Alexander Hotz \/ The Wall Street Journal<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>\u201cCan\u2019t I just take your code, launch my own currency and call it Anne Coin?\u201d I asked.<\/p>\n<p>\u201cOf course,\u201d said Mr. Burrell.<\/p>\n<p>\u201cAbsolutely!\u201d said Mr. Fulnecky. \u201cBut it\u2019s not just the code. It\u2019s the community that builds up the coin.\u201d<\/p>\n<div id=\"realtor\" class=\"wsj-body-ad-placement\"><\/div>\n<p>NewYorkCoin, created in 2014 by an unknown developer, has enjoyed a surge of support in recent months. More businesses are accepting the currency and there\u2019s a growing interest among cryptocurrency developers. There\u2019s even a new Meetup group where enthusiasts who frequent online forums can gather in person to discuss their altcoin adventures.<\/p>\n<p>Everyone jumping on the bandwagon has a different angle. Mr. Fulnecky says projects like building a mobile-wallet app for the coin are a fascinating challenge. \u201cI\u2019d rather be doing this than anything else I can think of, from a coding perspective,\u201d he said.<\/p>\n<p>For Alexander Nicholas, it\u2019s a chance to get in early on a new trend. He\u2019s accepting the currency at KEATS, his Manhattan bar, and at his EPIC Hybrid Training fitness studios. \u201cThat\u2019s just my mind-set, being ahead,\u201d he says.<\/p>\n<p>He\u2019s even hosting the community\u2019s monthly Meetup in his bar, where he plans to install the world\u2019s first NewYorkCoin ATM.<\/p>\n<p>Then there\u2019s the miners, people like Cameron Tareen who digitally mint NewYorkCoin on their home mining rigs.<\/p>\n<p>Mr. Tareen started mining NewYorkCoin last month after researching currencies that could be profitably produced. His says his rig churns out about 50,000 NewYorkCoins a day\u2014worth roughly $7.50. The electricity used to power his machine, meanwhile, costs about $2 a day. That\u2019s a small gain, he accedes, but if the value of the currency hits $1, he\u2019ll be a millionaire many times over.<\/p>\n<p>Despite growing support, the coin\u2019s future is far from certain. Its value peaked earlier this year at $0.001162. The total market cap of all NewYorkCoin in circulation is just $22 million, compared with Bitcoin\u2019s $196 billion.<\/p>\n<p>Then there\u2019s the split between the community\u2019s two factions: The group associated with Mr. Burrell, and a group led by \u201c Charlie K. ,\u201d a Bronx native living in Colorado.<\/p>\n<p>Charlie K. who, like many in the cryptocurrency community insists on anonymity, makes frequent trips to New York City to promote the coin, including a weekend walking the streets of Manhattan wearing a sandwich board. \u201cIt was a little goofy, but it got people\u2019s attention,\u201d he said.<\/p>\n<div id=\"unruly\" class=\"wsj-body-ad-placement\">\n<div class=\"wsj-body-ad \">\n<div id=\"wsj-body-AD_G3\" class=\"wsj-responsive-ad-wrap wsj-ad-article-body\" data-ad-options=\"{&quot;adId&quot;:&quot;AD_G&quot;,&quot;adUnitPath&quot;:&quot;\/2\/europe.wsj.com\/newyork_culture&quot;,&quot;adSize&quot;:[[2,2]],&quot;adSizeMap&quot;:null,&quot;autoRefresh&quot;:false,&quot;adTargeting&quot;:{&quot;metazone&quot;:null,&quot;msrc&quot;:null,&quot;circ&quot;:&quot;snippet_free_pass&quot;,&quot;bkuuid&quot;:null,&quot;p39&quot;:null},&quot;disableRefresh&quot;:false}\" data-tracking=\"europe.wsj.com\/newyork_culture\" data-is-logged-in=\"\" data-google-query-id=\"CLLp0vrZtdkCFWqpUQodP9oAUw\"><\/div>\n<\/div>\n<\/div>\n<p>He says he\u2019s planning to open a storefront gallery in lower Manhattan next month, extolling the coin\u2019s benefits and history.<\/p>\n<p>Mr. Burrell\u2019s crowd isn\u2019t sure such promotional efforts are necessary or even desirable. The two factions have launched rival websites, designed competing logos, and sparred over development issues. But it\u2019s a friendly dispute, both sides contend.<\/p>\n<p>\u201cI kind of look at him as the crazy uncle,\u201d says Mr. Fulnecky of Charlie K. \u201cWe\u2019re family.\u201d<\/p>\n<p>NewYorkCoin has a lot going for it, says Bitcoin and blockchain expert Nick Spanos, founder of the Bitcoin Center NYC.<\/p>\n<p>\u201cYou can\u2019t discount a coin that\u2019s been alive for so long,\u201d says Mr. Spanos, who has no investment in NewYorkCoin.<\/p>\n<p>And the name doesn\u2019t hurt, he adds: \u201cIt\u2019s not, like, Oshkosh Coin, it\u2019s New York City!\u201d<\/p>\n<p>So yes, I\u2019m now the proud owner of 250,000 NewYorkCoins\u2014worth about $40. I suggested to Mr. Burrell and Mr. Fulnecky that we meet again in a year or two, all driving our Lamborghinis.<\/p>\n<p>\u201cYou mean our moon Lambos,\u201d said the optimistic Mr. Fulnecky. \u201cWe\u2019ll have Elon Musk shoot us up to the moon.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; In Manhattan, a cup of coffee will set you back about $2. Or .00098 Bitcoin. Or\u2014here\u2019s a new one\u201412,500 NewYorkCoins. Never mind alternative currencies such as Tigercoin, Ethereum and BiblePay. There\u2019s a cryptocurrency named for our fair city, and it\u2019s gaining momentum. Last week, I met two of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":517,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NewYorkCoin Gains Traction in Cryptocurrency Circles - Curved Capital<\/title>\n<meta name=\"description\" content=\"Bitcoin&#039;s price has risen more than 900% this year, but it&#039;s seen wild fluctuations ranging from 44% up or 25% down against the dollar. 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