Defunct Coins

[Abiky]

There were so many good-old altcoins on the market which turned out to become "extinct" over time. Some had great features that made them stand among other cryptocurrencies on the market. Others were simply copies of an already-established cryptocurrency in the Blockchain space with a few tweaks here and there. One of the good and defunct coins out there was Memorycoin. It had a built-in voting mechanism on the QT wallet, where users could vote with their MMC right from the Blockchain. All of this was achieved without the use of DPoS (which is centralized). It lasted for some time, only to become "extinct" because there was lack of development and demand from everyday people.

There were other coins like Franko (FRK), Famecoin (FAME), Fluttercoin (FLT), Krypton (KR), and Worldcoin (WDC), that are worth remembering due in part to their wild & crazy ideas back in the day where crypto was starting to gain mainstream adoption. I believe that some (if not all) of these coins' blockchain networks are still alive, but are rather useless since there's no market (exchanges) for them. In a world where people are looking for the "next big thing", old coins are quickly replaced by the "new kid on the block".

Do you happen to know of any other good coins that are now defunct? I'd be interested to know which coins were a hit in crypto's beginnings just for curiosity. Even if no one seems to be using defunct coins nowadays, they can still be revived thanks to the open-source and decentralized nature of Blockchain technology. Any thoughts, recommendations, or suggestions will be greatly appreciated.

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[libert19]

Enumivo - The idea of creating UBI on blockchain, there was beef between Chinese bp community and non-chinese, drama everyday, founder left, coin turned to ashes.

Twist: Making blockchain accessible to all. Idk what happened, founders left.

[Bitbtc8]

They are many and there is no point listing them on here, investing on new projects are very risky that's why I quit on them until a particular new coin survived for two or three years with good development then I can consider investing on the coin, but for now I'm good with Bitcoin and Ethereum

[davis196]

I remember the Graft project(GRFT) 3 years ago.AFAIK Graft was a Monero fork,but I'm not sure.
The ICO was quite big and the project looked promising,but now GRAFT is dead altcoin with a market cap below 170,000 USD and a 0,00003 USD price.I can't say whether or not the GRAFT project was legit or an exit-scam.I had around 11900 GRFT coins and sold them back in March 2018 for 200 USD,now their price is probably around 3 USD.
Such dead and defunct coins can be revived only for pump&dump purposes.If the market had punished the coin from the beginning there's no valid point for reviving such coins.

[bartolo]

I guess we can add Counterparty (XCP) to that list. It had its moment, but with the arrival of Ethereum and other blockchains in which you can create and move tokens in a cheaper and faster way, it was displaced and abandoned.

[justdimin]

Defunct coins are not always totally gone at all times. They are open source as you might imagine and because of that their code gets studied and when there is a new innovation the new ones add that to their system and they simply just use that on top of their already done blockchain. When you have a base blockchain that you wrote that has some innovation plus you study all the defunct coins and see what they did wrong and why they are defunct you can always get a lesson from it.

Sometimes it is a problem with the idea, sometimes it is a problem with the code, and sometimes it is just they didn't know how to do marketing and people didn't simply hear about it or didn't liked it. So, defunct coins are actually quite important part of the crypto world if you ask me.

[Abiky]

I guess we can add Counterparty (XCP) to that list. It had its moment, but with the arrival of Ethereum and other blockchains in which you can create and move tokens in a cheaper and faster way, it was displaced and abandoned.

Exactly. Cryptocurrencies come and go due to the evolution of technology. It's a matter of adapting your crypto project to the latest trends in the industry or be left behind. With a blockchain platform like Ethereum capable of doing so much more than just "tokenizing" assets, there would be no reason to "reinvent the wheel" on an older blockchain like Counterparty. Even if the XCP cryptocurrency stops trading at mainstream exchanges, the Blockchain network will always be there as long as there are people supporting it. Anyone can work with the open source code in order to improve the existing project or make a new one from scratch.

Remember, it's not about crypto but rather Blockchain technology. As long as people in the mainstream world are able to find real use cases from a specific project, it'll last a lifetime.

Defunct coins are not always totally gone at all times. They are open source as you might imagine and because of that their code gets studied and when there is a new innovation the new ones add that to their system and they simply just use that on top of their already done blockchain. When you have a base blockchain that you wrote that has some innovation plus you study all the defunct coins and see what they did wrong and why they are defunct you can always get a lesson from it.

Sometimes it is a problem with the idea, sometimes it is a problem with the code, and sometimes it is just they didn't know how to do marketing and people didn't simply hear about it or didn't liked it. So, defunct coins are actually quite important part of the crypto world if you ask me.

That's certainly true, mate. While anyone can continue working on the code to improve the project, it'll be quite challenging to restore popularity on an old cryptocurrency. People often associate crypto names to a brand, leading to loss of trust if the old project becomes abandoned for a long time. This leaves many investors "holding the bag", as their coins become worthless (due to lack of exchanges trading it). A new dev team could try to revive the abandoned project with the old name, but it's often best to start anew in order to attract as much people into it.

What really matters is Blockchain technology above anything else. We can learn from previous cryptocurrencies' mistakes in order to create better versions in the future. Many features from good-old coins like Primecoin and Namecoin can be adapted into other Blockchain networks in order to make crypto land a better place. Before decentralized domain names became a reality on ETH, Namecoin was the pioneer of this breakthrough innovation. All of this tells us that the underlying cryptocurrency might die, but its technology will live for the foreseeable future. Just my thoughts

[Banadony]

see, the world is full of innovation and invention. New projects will always outsmart the old ones. bitconnect was a known ponzi business that faded out but still, ponzi never died. there are still coin in the market that are still running the ponzi scheme. i know of a token called connect that claim that they will mine cryptocurency with the satellite. people supported them but unfortnately, they disappear when it was clear the mission was not possible.

[Febo]

I guess we can add Counterparty (XCP) to that list. It had its moment, but with the arrival of Ethereum and other blockchains in which you can create and move tokens in a cheaper and faster way, it was displaced and abandoned.

But counterparty is still not abandoned. IT is just not mass used. Counterparty biggest strengthen, the Bitcoin network, made this. High fees on Bitcoin network made Countrepaty tokens transactions almost unusable.  I guess Liquid will now fix that with more centralised approach.  But counterparty is still here. It can grow strong again any moment.

[Ryushin]

Once there is lack of development the project will fail no matter how promising their use case are, this is why crypto is unpredictable, anything can happen and there is no way to detect which coin or token will live longer, its why we've been warned to only invest what we can afford to lose

[aioc]

Do you happen to know of any other good coins that are now defunct? I'd be interested to know which coins were a hit in crypto's beginnings just for curiosity. Even if no one seems to be using defunct coins nowadays, they can still be revived thanks to the open-source and decentralized nature of Blockchain technology. Any thoughts, recommendations, or suggestions will be greatly appreciated.

We have thousands of it, you can check the announcement section and go back to the year 2016 up to now and you will see thousands of useless and shit coins, and it's not going to end there, there will be thousands more coming, because it's open-source and it's cheap to create a token now, there are even platform to create a new token for as low as $20.

[michellee]

see, the world is full of innovation and invention. New projects will always outsmart the old ones. bitconnect was a known ponzi business that faded out but still, ponzi never died. there are still coin in the market that are still running the ponzi scheme. i know of a token called connect that claim that they will mine cryptocurency with the satellite. people supported them but unfortnately, they disappear when it was clear the mission was not possible.

It is normal to see some new project seems to cover the previous project because sometimes the new project can see a lack of the old project. So the new project can add something to cover that lack, and that can be a benefit for the new project to offers to the investor that they are better than the other projects. But we need to be careful to choose the new project because not all new project can do that, and many of the new projects are only search for the profit only.

[Vohoanghiep]

Money no longer exists does not always completely disappear. Electronic money comes and goes due to the development of technology. It is a matter of adapting your cryptocurrency projects to the latest trends in the industry or being left behind. So the new project can add something to make up for that shortfall, and that could be a boon for the new project to give investors that they are better than other projects.

[Abiky]

Money no longer exists does not always completely disappear. Electronic money comes and goes due to the development of technology. It is a matter of adapting your cryptocurrency projects to the latest trends in the industry or being left behind. So the new project can add something to make up for that shortfall, and that could be a boon for the new project to give investors that they are better than other projects.

Exactly. New technologies will always replace older ones. It's a matter of adapting your cryptocurrency project to the latest trends in the Blockchain space. There have been so many good coins out there with potential to take the world by storm. Yet, they've been abandoned for other projects with greater ambitions. Only those with an active community have been able to survive despite their non-existent development (like Dogecoin).

A coin is "defunct" if the same is no longer traded at exchanges. People will be unable to buy or sell their de-listed crypto of choice without a Fiat trading pair. The only way to do this would be in-person than anything else. Defunct coins can still have healthy blockchain networks even if they're no longer being traded in the mainstream world. I've seen some good-old coins which I believed to be "defunct", only to have an active blockchain network with a few connections to it. Anyone could simply encourage exchanges to re-list defunct coins if they resurrect in terms of development and innovation.

Nonetheless, we can say that cryptocurrencies "come and go" over time. But, Blockchain technology will still live no matter what due to its decentralized and open source nature. Someone can simply create another cryptocurrency based on the "defunct" or old project, with new features, tweaks, and other improvements. If people are interested in supporting a specific cryptocurrency, it'll live for a very long time. Just my thoughts