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Author Topic: [ANN]COINJANITOR - DO DEAD COINS GO TO HEAVEN? OR DO THEY GO TO THE JANITOR?  (Read 5542 times)

CoinJanitor

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BASIC PROJECT INFORMATION

- CoinJanitor is a community-driven project that aims to unlock value trapped in failed coins.

- With more than 4,500 cryptocurrencies in circulation, and only about 1,500 available on major exchanges, there are thousands of coins that are holding value up in a way that cannot be transferred into the markets.

- Many of these projects have failed to achieve their goals or have failed to achieve the network effect they needed to thrive. CoinJanitor will offer users, creators and community members who have trapped value in those projects, a way to transfer their value out of those blockchains.

ICO START DATE: 1 May 2018 - 31 May 2018.


LINKS:

Website: https://www.coinjanitor.io
Telegram: https://t.me/CoinJanitor
Whitepaper: https://www.coinjanitor.io/wp-content/uploads/2018/03/CoinJanitor-White-Paper-v4.5.pdf
Onepager: https://www.coinjanitor.io/wp-content/uploads/2018/02/CoinJanitor-Two-Pager-Landscape-Light-v3.pdf
Twitter: https://twitter.com/CoinJanitor
Facebook: https://m.facebook.com/CoinJanitor-201490483964845/
Youtube: https://www.youtube.com/channel/UCXkaiV83H3gHy5DomxoZvGA


OVERVIEW

When a coin is launched, its creators and community work diligently to make it succeed. They seek to differentiate their coin to find a niche in the market, gather the greatest network they can behind them and implement the concept that makes them unique. Nevertheless, creators and communities fail to achieve their goal often. After trying for a period of time, those coins fail to get traction and their users, communities and creators are left holding coins that can't be used to purchase goods or services, and in many cases, coins that they simply cannot transact with at all because their blockchains have been abandoned.

Despite the failure of the coin, the code behind it, all the data that is related to it, its marketing assets, and more importantly, its community, still hold value. Until now, we have relegated that value to oblivion, discarding those coins, labeling them dead because they cannot be traded and their prices are negligible. But what if we could find a way to rescue the value in them and put all those communities together under a single coin? Maybe then we would be able to achieve the network effect that each of those coins failed to achieve individually, allowing the markets to enjoy the value behind their assets. That is what CoinJanitor aims to do through the amalgamation of these communities and the use of their assets. Here is how we will achieve our goal:




Trapped Value?

We speak about trapped value in failed coins because people have invested time, money, computing power and other resources in these projects. That investment did not achieve the desired goals, but it still created a community that was united in its pursuit of a specific goal. Failure to achieve that goal does not eliminate the value in the project, although it diminishes it. When a project’s value is diminished beyond a certain point, the invisible hand of the market relegates the whole project to oblivion. As demand for those currencies drops, so does their price and the ability of their users to exchange them for more valuable coins at any exchange rate. This process effectively pushes both users and value out of the markets, trapping the value they have created in such a way that it cannot be transferred back into the markets.


How can CoinJanitor unlock and transfer that value back into the markets?

CoinJanitor will unlock that trapped value using economic forces and its primary tool: the CoinJanitor token. We will proceed to do that through 5 main steps:

1.) Mapping cryptocurrency markets to see where those failed coins are. We have come up with our own definition of what a failed coin looks like, taking various parameters into consideration. We define failed coins as follows: PoW coins – mainly – that were launched more than 2 years ago, are not traded on exchanges and have a market cap smaller than $50,000 USD.

2.) CoinJanitor will reach out to those coins that according to our mapping efforts, can be defined as failed coins. We will communicate with the creators and the communities of these projects to set up a buy-out program and have the creators turn over access to GutHub and other code repositories. The buy out program will have a deadline and will be done using the CoinJanitor token exclusively. This will prevent the emergence of pump and dump schemes, and other types of speculation. Using the CoinJanitor token will prevent the project from becoming a de-facto exchange service for coins that are otherwise not exchangeable.

3.) After the buy out program is implemented, CoinJanitor will proceed to eliminate – burn – all the coins it bought.

4.)
The next stage involves decommissioning blockchains belonging to the projects that had value trapped in them.

5.) CoinJanitor’s final stage in this process is to organize and release all the relevant code, GitHub repositories, data and other relevant pieces of information about these projects, to the public. Every piece of code will be turned into open source code, available for the community to build upon and use on other projects. Data will be organized and distilled into decision-making tools that will help community members in the future.


CoinJanitor is a multi-stage project that will start with the transfer of value that is trapped in failed coins as its first stage. Our team will subsequently develop and deploy more tools based on the data we will process during our work to restore this trapped value to the markets.

What are the benefits of the CoinJanitor project?

This project will benefit CoinJanitor community members, cryptocurrency markets, users of failed coins and CoinJanitor creators in different ways:
•CoinJanitor community members will benefit from being part of a growing economy that amalgamates communities to achieve the network effect they couldn’t achieve on their own.
•Cryptocurrency markets will benefit from a reduction in market dilution and the possibility of having previously trapped value moving back in.
•Users of failed coins will have a way to transfer the value they had locked in a failed project and will join a project that will integrate them.
•CoinJanitor creators will benefit from creating an unprecedented project in the cryptocurrency space that will create value through amalgamating the communities of failed coins under a single umbrella.


« Last Edit: June 08, 2020, 06:02:38 PM by CoinJanitor »
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NewsCrawler·

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  • Bitcoin Garden | CoinJanitor: Do Dead Coins Go to Heaven? Or Do They Go To The Janitor?
    https://bitcoingarden.org/coinjanitor-do-dead-coins-go-to-heaven-or-do-they-go-to-the-janitor/

    CoinJanitor is a community-driven project that aims to unlock value trapped in failed coins. With more than 4,500 cryptocurrencies in circulation, and only about 1,500 available on major exchanges, there are thousands of coins that are holding value up in a way that cannot be transferred into the markets. Furthermore, many of these projects have failed to achieve their goals or have failed to achieve the network effect they needed to thrive. CoinJanitor will offer users, creators and community members who have trapped value in those projects, a way to transfer their value out of those blockchains.

    We speak about trapped value in failed coins because people have invested time, money, computing power and other resources in these projects. That investment did not achieve the desired goals, but it still created a community that was united in its pursuit of a specific goal. Failure to achieve that goal does not eliminate the value in the project, although it diminishes it. When a project’s value is diminished beyond a certain point, the invisible hand of the market relegates the whole project to oblivion. As demand for those currencies drops, so does their price and the ability of their users to exchange them for more valuable coins at any exchange rate. This process effectively pushes both users and value out of the markets, trapping the value they have created in such a way that it cannot be transferred back into the markets....


    Hacker, Pirate, Milf Hunter, Owner of Bitcoin Garden

    secco

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  • CoinJanitor ICO Review and Overview : A New Upcoming ICO 2018 w/ BroKaine

    Hacker, Pirate, Milf Hunter, Owner of Bitcoin Garden

    secco

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  • Bitcoin Garden: Did You know There Are More Than 4,500 Cryptocurrencies Already?
    https://bitcoingarden.org/did-you-know-there-are-more-than-4500-cryptocurrencies-already/

    Just a little over 9 years ago, the first Bitcoin was mined. The world was busy with one of the most gruesome economic meltdowns in history, so it took us years to discover the invention that turned into the frenzy of the century. Now, almost 10 years after Satoshi Nakamoto published his white paper, the asset that just a few people in a closely-knit mailing list knew about, spawned an explosion of digital assets that no one would have been able to foresee. With ICOs adding more crypto assets to the market on a daily basis, it is hard to keep an updated count of how many are out there. There are more than 4,500 coins and tokens in circulation, challenging what we thought we knew about cryptocurrency markets.

    Anyone would think that the 1,500 or so coins listed on coinmarketcap.com make up the market, but this is not accurate. Many more coins are hiding somewhere in a dark corner of the web, waiting to be dusted, and that is just the tip of the iceberg. The dearth of information about cryptocurrencies is greater than we thought. In fact, for every well-known cryptocurrency, there might be hundreds of unknown ones, which forces us to think about other information that we might be missing....

    Hacker, Pirate, Milf Hunter, Owner of Bitcoin Garden

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    CoinJanitor

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    Meet the team

    Marc Kenigsberg, Founder & CEO CoinJanitor

    Marc has been an advocate for #cryptocurrency and #bitcoin since 2013. He is an internationally recognized #speaker and firmly believes in the power of the #blockchain.

    “Today it’s all about financial transactions. What if I would tell you that finance will play the smallest part, when we talk about the distribution of blockchain technology in just a couple years“ he said during Blockchain & Bitcoin conference in Limassol, Cyprus.

    He is a veteran of the gambling industry, served 15 years in various marketing and senior leadership roles at some of the largest Playtech and Microgaming licensees. He has built multiple companies around the crypto ecosystem, including one of the biggest news websites in the Bitcoin world Bitcoin Chaser, is a recognized ICO adviser and regular speaker at industry conferences like the London Affiliate Show, ICE Totally Gaming, the @World Gaming Summit, SIGMA - IGaming Malta, @Bitcoin Europe, Crypto Friends Hypethon and more.

    He is a manager and CEO that is not just thinking about today, but tomorrow: „Right now there are 4.500 coins in the market, only 1.500 of them have enough trading volume to be labeled active. This is a lot of trapped value that we can and will release with CoinJanitor to create a clean, functional and prosperous crypto market for everyone.“
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    Let's clean up Crypto!
    Join the conversation: https://t.me/CoinJanitor
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    CoinJanitor

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    Join our conversation on Telegram: https://t.me/CoinJanitor
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    CoinJanitor

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    Crypto needs cleaning!

    Join the Janitor: https://www.coinjanitor.io/
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