CoinJanitor

COINJANITOR

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.

PROS

• CoinJanitor is a community-funded project that aims to restore the value of dead coins to users and contribute positively to the entire crypto community.
• The project will involve all stakeholders in establishing the best way to deal with dead coins and failed projects as well as how best to recycle the same. This will allow supporters of the project to own up to it and make their contributions.
• The ERC20 token allows CoinJanitor to focus on the economic aspects of the project without spending money creating an independent block chain that will compete with other digital currencies present in the market.
• It adopts a manual approach to unlock the trapped coin, a methodology that will work best because most of its target coins are based on very old or even outdated databases that would otherwise require substantial resources to before dead coins can be recovered.
• Each failed project CoinJanitor restores expands the project’s market reach besides influencing further projects. Consequently, with time marketing costs will reduce significantly.
• Whitepaper; it is elaborate, detailed and wastes no time explaining unnecessary ideas. While the project is advancing a course that can easily be mistaken or criticized, the whitepaper does a great job in allaying such fears.
• The team; it is composed of highly qualified individuals who will definitely utilize their skills and expansive experience in the digital currency world to enrich the project.

CONS

• The project is likely to run into trouble because individuals deliberately “killed” the coins or masterminded the failures of the same for selfish reasons will fight back fiercely.
• The team; with six team members the system is likely to lack diversity and divergent angles typical of systems with larger numbers. All the members are also men.
• The decision on the duration necessary to label a dead coin as such needs contribution of community members. Fixing the duration to two years is somewhat rash.

SUGGESTIONS

• The system should strategize on how to deal with failed systems that were deliberately brought down.
• Include more team members and consider strongly increase the gender ratio.
• Involve community members in determining the duration of time necessary to label a coin a dead.

NOTE

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.

Summary

Everyone 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.