Apr 25, 2018
With more than 4,500 cryptocurrencies in circulation, there are bound to be many that are functionally dead. This presents many challenges for cryptocurrency markets, as well as for the users of those currencies. Those users have their money locked in a network that doesn’t allow them to transact, or a currency that is not tradeable. Cryptocurrency markets on the other hand, suffer from dilution of resources and reputational issues due to the sheer number of unusable coins. CoinJanitor aims to solve these problems by unlocking trapped value in these projects and at the same time create the much-needed public discussion of how best to recycle value from failed projects in the future. CoinJanitor will achieve this by taking over failed projects. To do this we will exchange CoinJanitor tokens (JAN) for the delisted coins that users hold. We will then proceed to burn those tokens and coins that we acquire. Through this mechanism, value will be restored to individual users who can sell or trade their CoinJanitor tokens, and to the community at large by the recycling of codebases and project assets back into the community. By reducing resource dilution in the market CoinJanitor will contribute to the network effect of functional coins, more effectively leverage fragmented communities and implement a mechanism for the recycling of spent resources back into future projects. As a result, CoinJanitor will also benefit from network effect and create a highly engaged, loyal community of coin holders working towards the improvement of utility and value in the crypto economy.
Failed coins are profiled and a buy-out program is set up so that the coins creators turn over access to GitHub, other code repositories and all marketing assets. CoinJanitor burns the coins it bought and underlying blockchains are disabled. Relevant code repositories are organized and turned into an open-source blockchain library available to any community member for future developments and academic purposes. CoinJanitor compiles relevant data that is otherwise missing.
2 April 2018
2 May 2018
Attention. There is a risk that unverified members are not actually members of the team
$8 000 000
$181 702 066
This project is aimed at unlocking the value of failed or dead coins and transferring the same to functional crypto currency networks in a user-friendly way. It will also eliminate the coins that trapped the value. It will create a token that will provide a convertible asset for the users of the dead or failed coins allowing them to unlock the value left on the block chain of the coins.
Despite the many possible problems critics expected the project run into, I believe it is a brilliant idea whose time has come. All stakeholders; the digital currency, crypto community members, and economists need it. So, I will invest in this project.
SummaryEveryone invests in the wrong coin sometimes; it's inevitable when participating in a volatile market as the crypto market. But, with Coin Janitor, it has a good project vision and idea behind. With it, we can see a more rewarding economy where beginners won’t get penalized too much for investing in a dead coin. So long as the coin’s community is active within Coin Janitor’s platform, then it will stay open for trade!Positives Supports Owners of Failed Coins: The unit will gain benefits from their dead coins. And they’ll join a community that’s expected to grow exponentially based on the dead coins that are unable to be sold on the market. Coin Janitor Users: People who use Coin Janitor will gain a new economy where they can resell their dead coins. The economy will find value within the failed coins and give them a new environment of users who have their value of the coin. Boosts the Crypto Market: The crypto market benefits by decommissioning the dead coin’s blockchain that reduces its value. Negatives Short White Paper: While it has a well-defined vision and idea, the white paper is only two pages long. This can be misleading for large investors who want more information on an ICO before getting into it. Economic Uncertainty: While it says Coin Janitor will restore the value of a dead altcoin, it leaves us confused as to how it will create the value of that coin. While communities will help determine the value, we need to see more economic factors it can affect before we see a change in its value.
The idea to clean up the crypto industry is noble and pretty logical. We have no doubts the owners of dead tokens will be enthusiastic about the opportunity to convert their tokens into something valuable. The team has developed a detailed plan, roadmap, and whitepaper describing all their steps. Add here a simple fact that CoinJanitor is the only project of this kind, and you will see how bright the future of the project is. The long-term perspective looks especially positive.An excellent idea of making the crypto industry healthier by buying out dead or failed tokens can restore the lost investments to the token owners and the value to the market itself.
It is very difficult to talk about the advantages of this unusual project for the redemption of useless dead coins. Perhaps its main advantage for the participants is the exchange of information and mutual moral support of failed investors. As well as a complete lack of competition. Among the disadvantages are the following: Lack of commercial sense in the project; The lack of demand of the product.
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