Qimpoy
The qimpoy (IPA: /tʃimpoj/, /tʃimpɔj/ in some dialects) was a Chemherian cryptocurrency. It was named after the phonetical translation of the Romanian word "cimpoi", from a song called Pe Cimpoi by Radaurobian artist Sandu Ciorba, who is very popular.
Qimpoys, unlike other such currencies like bitcoins, are lesser known outside of Chemheria, though it gained better international recognition at the time it was made illegal.
History[edit | edit source]
In late 2013, the Chemherian government legalized cryptocurrencies, largely in part to the success of Bitcoin. Students from Magas University wanted to create "a local cryptocurrency" in order to fall in accordance with the Chemherian legislation.
During this period, music videos of Radaurobian artist Sandu Ciorba became popular in Chemheria, largely through word of mouth. In January, the name Qimpoy was chosen.
Legality[edit | edit source]
The cryptocurrency has been at the center of many controversies regarding its legal status during its entire existence. Economists believe that a cryptocurrency "named after a popular internet meme" is widely regarded as something that "doesn't look confident".
Ban[edit | edit source]
In the second half of March 2019, the Chemherian government investigated Peter Joro's account on the Qimpoy currency, saying that his investments in bitcoins influenced his terrorist attacks. The government announced plans to end the cryptocurrency.
On April 8, 2019, it was announced that the qimpoy was to be banned in Chemheria, however there were still qimpoy traders in neighboring countries and Northulia, where a significant Chemherian community exist. The government initiated a firther crackdown in the coming days, particularly in Northulia, where the New Michillian shooter lived. The last qimpoy trader, active in a suburb of Canberra, received a cease-and-desist letter from the Chemherian government on April 18, 2019 and was jailed for three months. In a later judgement, it was revealed that none of the people who used Qimpoy worked at Bitconnect, the platform the two shooters used to finance their travels.