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Author Topic: [ANN] COINJANITOR[ICO] Do Dead Coins Go to Heaven? Or Do They Go To The Janitor?  (Read 1552 times)
CoinJanitor
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February 27, 2018, 07:00:00 PM
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 #1



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.



The CoinJanitor ICO begins on May 1 2018.


▇ ▇ ▇▇────────CoinJanitor────────▇▇ ▇ ▇
Join the Janitor. Restoring Lost Value to Cryptocurrency.
https://www.coinjanitor.io/
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marckenigsberg
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February 27, 2018, 09:46:25 PM
 #2

I am part of the team of this project.
It is an idea that has never been tried before and I encourage people to watch the video and ask questions on telegram https://t.me/CoinJanitor
The aim here is to make ALL crypto better and more valuable not just CoinJanitor.
All comments and feedback are appreciated.

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February 28, 2018, 09:11:20 PM
 #3

Hey guys here is a short explainer video about what the project aims to do
https://www.youtube.com/watch?v=faYtyzx_v5M
Thanks!

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March 02, 2018, 12:48:30 PM
 #4

What an interesting concept. All the best!
marckenigsberg
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March 03, 2018, 08:20:48 PM
 #5

Thanks.
It is definitely a challenge but also desperately needed in the space

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March 04, 2018, 12:10:07 AM
 #6

It is an idea that has never been tried before

Eh, not quite. https://bitcointalk.org/index.php?topic=1219460
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March 04, 2018, 01:05:17 PM
 #7

Thanks for pointing that out.
BARR project was different as I understand it as it focused on coins that were listed whereas we are specifically targeting delisted coins.
Point taken though I will be more careful about messaging.
What do you think about the idea of targeting delisted coins?
And are you aware of any projects that tried.
I have seen people try and list them but I am not aware of any one trying to absorb them.
Thanks

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March 05, 2018, 12:27:45 AM
 #8

Thanks for pointing that out.
BARR project was different as I understand it as it focused on coins that were listed whereas we are specifically targeting delisted coins.
Point taken though I will be more careful about messaging.
What do you think about the idea of targeting delisted coins?
And are you aware of any projects that tried.
I have seen people try and list them but I am not aware of any one trying to absorb them.
Thanks

No worries, that project was a long time ago, and doesn't come up if you search things like "dead coin swap". I had randomly seen the old ANN months ago, and it came to mind when I saw your project. And you're right, their project wasn't necessarily geared towards dead coins, but more reduction of supply on certain coins.

I think this is really interesting, although I am curious how you plan on sustaining the value of your token. My assumption would be that all those people that want to swap their old coins would be most interested in immediately dumping your token for a coin like BTC, which would crash the price every time you did a swap. I would think you'd need to incentivize holding your token somehow.
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March 05, 2018, 12:37:09 AM
 #9

I'm also interested in more details on the selection process for coins you swap. You talk about getting permission from devs or communities, but dead coins typically are dead because the dev left or the community fizzled out (or both). What do you do if you can't get in touch with the dev, and there is no clear community leader because the community is either too small or nonexistent?

Take Cagecoin for example - there are no devs and it is not listed on any exchanges, but there are a handful of community members and I really doubt they'd agree to hand over the coin to you. So even though it is dead, I assume you'd have to pass on swapping it.

Then there is Gopnik coin, which has a dev but no exchanges and no roadmap, and the community has given up on that project going anywhere despite the developer giving excuses and promising that things will happen eventually. I assume you'd have to pass on this one too.

So really, I'm not sure what coins you could successfully swap.
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March 05, 2018, 02:59:48 PM
 #10

Thanks for the questions.
You've raised some great ones and there are a whole lot more.
As long as a project owner is contactable the rest is doable.
In cases where they are not there is no much to do for the moment.
All swaps will be done manually at this stage so it's literally one person to person.
In terms of dumping.
The entire market cap of these coins is less than 50k. We will not manage to swap all in the first go so entire available pressure for selling assuming all users dump will be quite a bit less than 50k.
One coin at a time I don't think this is a material amount of sell pressure for our token especially when compared with the extra media and social coverage we should get per swap.
I'm going to start doing some interviews and AMAs soon to address some of these questions.
If anyone wants to have a discussion on their platform let me know.
In the meantime have a look at our white paper where some of these questions are answered.
And you can join our telegram and obviously keep speaking here.
I love these discussions and am sure we will get great points raised by the community here.
https://t.me/CoinJanitor

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March 06, 2018, 04:50:03 PM
 #11

Thoughts guys on the above?
Have you guys read the white paper?
Thanks!

CoinJanitor
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March 07, 2018, 08:44:18 AM
 #12

Read our latest article on medium: https://medium.com/@CoinJanitor/what-does-the-cryptocurrency-market-want-634935817fd1?source=linkShare-65daaa29e8fc-1520412113

▇ ▇ ▇▇────────CoinJanitor────────▇▇ ▇ ▇
Join the Janitor. Restoring Lost Value to Cryptocurrency.
https://www.coinjanitor.io/
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March 09, 2018, 08:52:52 PM
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I'm happy to announce that our bounty is program is live!
You can see the programs and terms on this thread https://bitcointalk.org/index.php?topic=3094537
2.5M tokens are being awarded, so go claim some JAN tokens today.

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March 09, 2018, 10:46:12 PM
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I'm happy to announce that our bounty is program is live!
You can see the programs and terms on this thread https://bitcointalk.org/index.php?topic=3094537
2.5M tokens are being awarded, so go claim some JAN tokens today.

Your bounty program should be moved to the bounty board as bounties has their own board. And while you're at it, delete the "ANN" word from its title as it's a little bit misleading, this is the ann, not that one.

Also, if you don't mind and if you're really serious with your project, can you please, please, please, do something with your ann, it's overpopulated with words that I lost interest in the middle of my attempt to read them all. Twice.
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March 10, 2018, 05:30:55 PM
 #15

Thanks for the feedback.
We are very serious about the project.
We moved the thread and are adjusting the ANN now.
Thanks!

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March 16, 2018, 05:18:38 AM
 #16

IT is a tectonic effect each one of us who realy give support from this project im also one of this project buy promoting this  development more update and  recycle value back into the market. And we do this by paying users of old coins to aims cleanup cryptocurrency and strengthen Bitcoin by being the FIRST coin to absorb failed crypto in doing buy CoinJanitor .  realy nice project keep it up!....
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March 16, 2018, 10:25:04 AM
 #17

i think coinjanitor will be in top into cryptowold,its just like affordable coin that many people want it.to the moon it guys
CoinJanitor
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March 19, 2018, 01:16:45 PM
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i think coinjanitor will be in top into cryptowold,its just like affordable coin that many people want it.to the moon it guys

Thank you for the kind words!

▇ ▇ ▇▇────────CoinJanitor────────▇▇ ▇ ▇
Join the Janitor. Restoring Lost Value to Cryptocurrency.
https://www.coinjanitor.io/
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March 20, 2018, 05:35:00 PM
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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
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March 22, 2018, 01:12:10 PM
 #20

Awesome Project..All the best.
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