7d13
BUY/SELL BTC Click here To Buy Bitcoins || Click Here to Sell Bitcoins Or call 07037238225 (@prezzy)

Coinjanitor: Restoring Lost Value To The Crypto Economy

Discussion in 'Altcoins' started by zedzed, Apr 28, 2018.

  1. zedzed

    zedzed Grand Mod

    Messages:
    2,986
    Likes Received:
    739
    Trophy Points:
    1,143
    GOOD DAY GUYS,

    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.

    IMG_20180428_115858_850.JPG-Coinjanitor: Restoring Lost Value To The Crypto Economy

    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.

    WHAT IS COINJANITOR?

    IMG_20180428_120555_090.JPG-Coinjanitor: Restoring Lost Value To The Crypto Economy

    CoinJanitor is a community funded project that sweeps up inactive coins and pays users to trade them in.

    People who created, supported or were otherwise involved with cryptocurrency projects that are now functionally dead, have all the value they invested in them trapped. They cannot transact or trade these coins. This trapped value can serve as a source of growth for cryptocurrency markets if it is freed.

    It will also be beneficial for those who hold these failed coins because it will allow them to join a new community that can achieve the network effect that the coins they hold failed to achieve.

    MISSION

    To reduce cryptocurrency market dilution and restore lost value to the Crypto Economy, by providing holders,
    community members and creators of failed coins, a buy-out, a way to join a project that has the network effect that the projects they created or supported failed to achieve, and implementing a subse-quent systematic burn of the coins bought out.


    THE PROBLEM/CHALLENGE TO SOLVE

    Many of these new cryptocurrencies have legitimate goals to fulfill, and their creators along with their supporters,
    believe their coins can deliver. Nevertheless, most fail.
    Of the 4,500 or more cryptocurrencies that exist today, just a fraction are delivering true value to their users. Network effect is the main pillar of the value they deliver.

    Failed or dead coins either have negligible network effect or no network effect at all,despite the best intentions of their creators and their supporting community. Their users have invested funds, development, time, marketing or other resources into these projects, which is now spent or trapped. On the other hand, markets lose resources that can be otherwise invested into leading cryptocurrencies that can
    achieve their stated goals and deliver increased value to their users. Keeping this problem in mind, the challenge is to restore value to the users of those failed or dead coins and recycle as much trapped value from other assets back into the community at large strengthening the leading
    cryptocurrencies.


    OPOSED SOLUTION

    The solution to this problem is to unlock the value that users of failed or dead coins invested into those networks and enable its transfer to more successful cryptocurrency networks, while at the same time eliminating those coins that trapped value in the first place. The challenge is to set up a system to restore and transfer this trapped value in a user-friendly manner. The main tool at our disposal to address this challenge is fundamental economics. Through the creation of a token,the CoinJanitor project aims to provide a convertible asset for the users of those failed or dead coins to unlock the value they left on the blockchains of those coins. By receiving CoinJanitor (JAN) tokens, users can trade their previously locked value into bitcoin and other leading cryptocurrencies.

    Amalgamating the users of various failed or dead coins
    under the CoinJanitor umbrella will allow the project to make its the first step towards cleaning up crypto. The next step would be to effectively eliminate the coins that users just left and provide the market with a permanent proven
    mechanism to recycle future trapped value back into the economy.


    HOW IT WORKS

    IMG_20180428_115958_653.JPG-Coinjanitor: Restoring Lost Value To The Crypto Economy


    CoinJanitor will unlock value that is trapped in these failed coins, by a broad 5-step process:

    1. Profiling the coins that should be considered as failed. These coins will be PoW coins primarily, that were launched more than 2 years ago, are not traded on e
    xchanges and have a market cap smaller than $50,000 USD.


    2. After profiling, CoinJanitor will reach out to the coin’s creators, their users and their wider community to set up a
    buy-out program and have the creators turn over access
    to GitHub, other code repositories and all marketing assets. The buy out program will have a deadline. All buy outs will be done using the CoinJanitor token to avoid pump and dump schemes, and to avoid becoming a de-facto exchange service for coins that are otherwise not exchangeable.

    3. Once the buy out on a given project ends, CoinJanitor will proceed to burn the coins it bought.

    4. When the coins are burnt,CoinJanitor will proceed to disable or decommission the underlying block-chain. To do this, CoinJanitor has access to mining equipment that can be directed towards these blockchains to implement
    its decommissioning process, if need be.

    5. The team will proceed to organize relevant code
    repositories, turning every piece of code it acquires from
    these projects, into an open source“blockchain library” that any member of the community will be able to access for future project development, for academic purposes or any
    other goal they have in mind. In parallel, CoinJanitor will start compiling relevant data about all the coins it buys out, to provide market information that is otherwise missing.


    BENEFITS TO ALL MEMBERS

    Users

    The opportunity to get value back from coins that can not be sold and to join a community that will grow exponentially, achieving a network effect through the amalgamation of communities that are otherwise cut off from cryptocurrency markets altogether.

    Project Creators

    Creating the first project of its kind in cryptocurrency
    markets, opening the debate about what to do with failed coins and leading a newly created community in the
    development of more tools that will be useful to
    cryptocurrency markets altogether.

    CoinJanitor

    The creation of an economy that wouldn’t exist otherwise.
    This economy will grow with every failed coin that is
    disabled and with every community that is amalgamated
    under the CoinJanitor umbrella.

    The Market

    Reduction of dilution and the transfer of value that would
    be otherwise lost, into top ranked cryptocurrencies.


    NO. OF COINS BY TRADE VOLUME

    Most coins that exist cannot be traded. Some were even abandoned, leaving users out of the market altogether.

    • Abandoned coins
    • Coins with $1M+ daily trade volume
    • Coins with less that $1M daily trade volume
    • Coins that are not listed

    NO. OF COINS BY MARKET CAP

    Wealth is concentrated mainly on coins with market caps of $1 billion USD or more, but there are thousands of users on coins that have market caps lower than $50,000 USD. We are looking to welcome all those users into the CoinJanitor community.

    • No. of coins by individual market cap
    • Total market cap by segment


    COINJANITOR TOKEN DISTRIBUTION

    IMG_20180428_115932_659.JPG-Coinjanitor: Restoring Lost Value To The Crypto Economy

    Our sale aims to be inclusive, while allowing us to keep a reserve that will allow us to achieve our goals. Here is how we will distribute CoinJanitor tokens following the sale:

    *Team member tokens will be frozen until 2019.

    • Founders & Team – 10%
    • Bounty Campaigns – 5%
    • Partners – 5%
    • Token to Buy Failed Coins – 30%
    • Public Sale – 50%
    WEBSITE LINKS

    IMG_20180428_115919_856.JPG-Coinjanitor: Restoring Lost Value To The Crypto Economy


    Website: https://www.coinjanitor.io

    Telegram: 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: Coinjanitor.io (@CoinJanitor) | Twitter

    Facebook: CoinJanitor

    Youtube: Coin Janitor

    ANN thread: [ANN] COINJANITOR[ICO] Do Dead Coins Go to Heaven? Or Do They Go To The Janitor?

    DISCLAIMER

    Am not among the team or Admin of Coinjanitor.For more information, please click one of the links listed above.

    Thanks For Reading...
     
    Last edited: Apr 29, 2018
  2. Loading...

    Similar Threads - Coinjanitor Restoring Lost Forum Date
    ICO Coinjanitor Token... Awakening The Dead/ Fail Coins Altcoins May 31, 2018