Juggalos Have Their Own Cryptocurrency

The Citizen's Guide to the Future
April 9 2014 2:27 PM

Juggalos Have Their Own Cryptocurrency

2800814-the-insane-clwon-posse-attends-the-2003-billboard-music
Insane Clown Posse way back in 2003, before cryptocurrencies were a twinkle in the Juggalo's eye.

Photo by Carlo Allegri/Getty Images

If you’re looking to invest your savings in an untraceable digital commodity whose value is based on a complex algorithm, who would you trust more: a shadowy mathematical genius who may or may not be a reclusive model train enthusiast, or guys who think that magnets are magic?

Vice reports that this week will mark a watershed in global monetary history—the launch of JuggaloCoin, the world’s first cryptocurrency intended solely for use by followers of the Insane Clown Posse at the annual gathering of the Juggalos. Writes Drew Millard:

Vendors at the Gathering of the Juggalos to establish relationships that will allow JuggaloCoin to be accepted at the Gathering, which will in turn lead to the official ICP online store to accept JuggaloCoin, which will lead to the entire Juggalo universe dealing in JuggaloCoins.
Advertisement

On JuggaloCoin.org, Papa Nutt, the innovator behind this enterprise, promotes the currency as a means of “keeping funds in the family,” “promoting the positive aspects of the Juggalo lifestyle,” “supporting Juggalo charities,” and “promoting recognition of February 17 as international ‘Juggalo Day.’ ”

Speculators beware, though. Non-Juggalos are not welcome to purchase JuggaloCoin as “that’s basically stealing from the Family.” (Update: Papa Nutt reached out to me via Twitter to clarify that “Non-Juggalos are welcome to buy JuggaloCoin, they just don't get it free.” The headline of this post has been edited to reflect this.)

Like Nakomoto, Papa Nutt’s identity is mysterious. The Daily Dot notes that the website doesn’t include a contact address and lists his address as “1 Clown Lane.”

It seems quite possible this is all a good joke, but given the purchasing power of the Juggaloes, the Faygo company might want to update its payment system just to be safe.

Future Tense is a partnership of SlateNew America, and Arizona State University.

Joshua Keating is a staff writer at Slate focusing on international affairs and writes the World blog. 

TODAY IN SLATE

Medical Examiner

Here’s Where We Stand With Ebola

Even experienced international disaster responders are shocked at how bad it’s gotten.

Why Are Lighter-Skinned Latinos and Asians More Likely to Vote Republican?

A Woman Who Escaped the Extreme Babymaking Christian Fundamentalism of Quiverfull

The XX Factor
Sept. 22 2014 12:29 PM A Woman Who Escaped the Extreme Babymaking Christian Fundamentalism of Quiverfull

Subprime Loans Are Back

And believe it or not, that’s a good thing.

It Is Very Stupid to Compare Hope Solo to Ray Rice

Building a Better Workplace

In Defense of HR

Startups and small businesses shouldn’t skip over a human resources department.

How Ted Cruz and Scott Brown Misunderstand What It Means to Be an American Citizen

Divestment Is Fine but Mostly Symbolic. There’s a Better Way for Universities to Fight Climate Change.

  News & Politics
Politics
Sept. 22 2014 6:30 PM What Does It Mean to Be an American? Ted Cruz and Scott Brown think it’s about ideology. It’s really about culture.
  Business
Moneybox
Sept. 22 2014 5:38 PM Apple Won't Shut Down Beats Music After All (But Will Probably Rename It)
  Life
Dear Prudence
Sept. 23 2014 6:00 AM Naked and Afraid Prudie offers advice on whether a young boy should sleep in the same room with his nude grandfather.
  Double X
The XX Factor
Sept. 22 2014 7:43 PM Emma Watson Threatened With Nude Photo Leak for Speaking Out About Women's Equality
  Slate Plus
Slate Plus
Sept. 22 2014 1:52 PM Tell Us What You Think About Slate Plus Help us improve our new membership program.
  Arts
Books
Sept. 23 2014 7:14 AM Fighting the Sophomore Slump, Five Novels at a Time Announcing the Slate/Whiting Second Novel List.
  Technology
Future Tense
Sept. 22 2014 6:27 PM Should We All Be Learning How to Type in Virtual Reality?
  Health & Science
Bad Astronomy
Sept. 23 2014 7:00 AM I Stand with Emma Watson
  Sports
Sports Nut
Sept. 18 2014 11:42 AM Grandmaster Clash One of the most amazing feats in chess history just happened, and no one noticed.