Dead Coin

[yeahitsme]

how does someone take over an abandoned coin? been wondering about this as ive seen a few scammers just come in and claim they are gonna do amazing things blah blah with abandoned or dead coins but they don't seem to really do anything other than just claim their taking over the coin

[MbccompanyX]

well it depends at the end, i just saw some days ago that a old member of the forum decided to make a take over of one of those timebomb coin, the fact is that sometimes if the concept of a coin is good but is one of those timebomb coin and a community went formed in the procress those have all the rights to decide it's destiny and thanks to that some old scam coin gets revived

[BARR_Official]

Because altcoins are usually decentralized networks, they can sometimes keep running for awhile without needing any help from the original developers.  So for someone else to come in and "take it over" means that they want to be the new developer, hopefully releasing their own software updates and new versions of the coin's wallet.

The truth is that cryptocurrency networks aren't fully decentralized as long as they rely on software updates from 1 dev to keep them running.  Plus you have to agree to the centralized rules of the software to use it anyway, rules which were made by 1 person - coin supply, block rewards, etc.

So as soon as a coin loses its centralized leadership, people start begging for someone else to step in and be the new dictator.

[shanem]

Someone will surely want a lot of the altcoin as a ' reward ' to take over the dead coin. I believe these people are trying their luck to revive an altcoin as most takeover have failed.