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Topics - CoinJanitor

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Cryptocurrency discussions / Analysis of the CoinJanitor Project, Its Vision and Mission

« on: May 31, 2018, 02:15:17 PM »

The CoinJanitor project is envisioned as a platform, which will offer a recycling solution to crypto coins that have lost their relevance in today’s market. It will be achieved by unlocking the value that is locked up in dead coins. This platform also wants to reduce dilution in the crypto markets by amalgamating communities of dead coins into the CoinJanitor Community.

The Vision of CoinJanitor Creators

Today, there are over 4500 digital coins in circulation. However, most of these coins have died out. These dead coins are a major challenge for the crypto community. This is because the market usually has to deal with value dilution. The reason for this is that these coins already have value locked up in them, but that value cannot be transferred into the markets.

Besides that, most of the value in the crypto market is found in a few coins that have a value of $1 billion or more. However, there are thousands of people out there that have coins with a market cap of $50,000 or less. The vision of CoinJanitor is to unlock and recycle these coins via the CoinJanitor token.

How they will achieve their Mission

To restore lost value, the platform will profile coins based on certain parameters. They will then utilize a community outreach program to work with communities of the dead coin via the CoinJanitor platform. These dead coins will then be exchanged for CoinJanitor tokens in a buy out. The blockchains of the dead coins will then be decommissioned and their coins burned.

Beneficiaries of this initiative

By creating value for dead coins, the first beneficiaries will be owners of the failed coins. They will get value for a dead coin and join a growing community. CoinJanitor users will also benefit. This is because this project is essentially creating a new economy, with an un-tapped source for network effect: dead coin communities.

The other major beneficiary will be the market. This is because they will be helping to unlock value locked up in the markets. This value can then be transferred to others in the community or elsewhere within the market.
http://www.thecoinagetimes.com/index.php/2018/04/06/analysis-of-the-coinjanitor-project-its-vision-and-mission/

Projects Updates & Press-releases / CoinJanitor, The Project In Charge Of Cleaning Cryptocurrency Markets From Dead

« on: May 30, 2018, 01:57:36 PM »

CoinJanitor will pay users of dead coins for their useless coins, to bring them back into the market.

Cryptocurrency markets are full of coins that have failed. These coins are functionally dead and cannot be traded. The holders of these coins are stuck, and the value left in these blockchains is locked. CoinJanitor is the first and only project so far that can change this situation. The project will buy dead coins from the people who got stuck with them, allowing them to recover some of the value they have trapped in those coins. The buyouts, on the other hand, will bring all those dead coin assets – users, cod, , data and marketing assets – under the CoinJanitor umbrella, where they will create a powerful network effect and serve to build new market analysis tools.
https://www.trustnodes.com/2018/04/27/press-release-coinjanitor-project-charge-cleaning-cryptocurrency-markets-dead-coins

Articles about Cryptocurrency / CoinJanitor and Deadcoins.Com Join Forces to Clean up Crypto

« on: May 29, 2018, 02:41:34 PM »

When coins die, CoinJanitor cleans them up and now it will do so with the assistance of Deadcoins.com, the most comprehensive data source on dead coins.

May 23rd, 2018: CoinJanitor.io and Deadcoins.com have partnered up to clean up crypto together. Cooperation between the parties will allow both to complement each other, enhance their processes and accelerate the market clean up process. This partnership also brings more opportunities for both CoinJanitor and Deadcoins.com in terms of enhancing their community-led efforts, refining their products and fostering an ecosystem that has the potential to change the way the space works.
https://www.newsbtc.com/press-releases/coinjanitor-deadcoins-com-join-forces-clean-crypto/

Announcements [ANN] / [ANN] CoinJanitor [ICO] Do dead coins go to heaven? Or do they go to the Janitor

« on: April 11, 2018, 11:28:36 AM »

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: 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.

Tokens/Coins Offerings (ICO, IEO, etc.) / [NEWS] Did You know There Are More Than 4,500 Cryptocurrencies Already?

« on: March 27, 2018, 11:22:41 AM »

Did You know There Are More Than 4,500 Cryptocurrencies Already?

Just a little over 9 years ago, the first Bitcoin was mined. The world was busy with one of the most gruesome economic meltdowns in history, so it took us years to discover the invention that turned into the frenzy of the century. Now, almost 10 years after Satoshi Nakamoto published his white paper, the asset that just a few people in a closely-knit mailing list knew about, spawned an explosion of digital assets that no one would have been able to foresee. With ICOs adding more crypto assets to the market on a daily basis, it is hard to keep an updated count of how many are out there. There are more than 4,500 coins and tokens in circulation, challenging what we thought we knew about cryptocurrency markets.

A Lack of Information

Anyone would think that the 1,500 or so coins listed on coinmarketcap.com make up the market, but this is not accurate. Many more coins are hiding somewhere in a dark corner of the web, waiting to be dusted, and that is just the tip of the iceberg. The dearth of information about cryptocurrencies is greater than we thought. In fact, for every well-known cryptocurrency, there might be hundreds of unknown ones, which forces us to think about other information that we might be missing.

Juggle These Numbers in your Mind

Thanks to preliminary research, CoinJanitor has been able to establish just how many cryptocurrencies we are missing out on. Most of them are not tradeable and a significant number is also functionally dead. Just take a look at CoinJanitor’s initial findings. The numbers below will give you a taste of the kind of information we are missing out on:

CoinJanitor found more than 4,500 cryptocurrencies in circulation, of which the top 10 account for between 75% and 80% of the total market cap.

The following 90 coins on those ranked within the top 100 on coinmarketcap.com, account for anywhere between 15% and 18% of the total market cap.

That leaves around 4,400 cryptocurrencies holding about 2% of the total market cap in the most extreme cases.

More Factors

Just take a minute to digest that and think, if Bitcoin is now processing hundreds of thousands of transactions per day, how many cryptocurrency transactions have been completely unaccounted for because they took place within micro-cap blockchains? What could that information teach us? How about all the metadata related to that information? There are many more questions we could ask ourselves just based on those small data samples from CoinJanitor’s preliminary research, so imagine what we could learn if we knew more?

Knowledge Nurtures Wisdom

It took Bitcoin years to be as widely known as it is now, but this global phenomenon is still understudied. Now the pace at which other cryptocurrencies are created makes Bitcoin’s long and arduous journey look like a story from the last century. The cryptocurrency explosion has increased the unknowns exponentially, widening our gaps in understanding. If we study the markets we might be able to narrow this gap, and our newfound knowledge will nurture our wisdom. The first step is to understand that

there are indeed more than 4,500 coins out there, so we can start looking for all the treasures hidden behind the data that they produce.

Announcements [ANN] / [ANN] COINJANITOR [ICO] THE ECONOMY ALWAYS NEEDS A JANITOR

« on: March 15, 2018, 04:19:55 PM »

The Economy Always Needs A Janitor

Bitcoin Press Release: CoinJanitor’s role is to take care of failed or dead coins, cleaning them up in a manner that restores their value into wider cryptocurrency markets. CoinJanitor works by selecting specific coins that have failed or are functionally dead; contacting creators and community members; buying their coins out with the CoinJanitor token allowing them to transfer their value into the markets; burning the coins it bought from these community members and manually decommissioning the blockchains of those dead or failed coins afterwards.

March 12th, 2018 .Cape Town, South Africa: Step into any office building, school, government office or even residential buildings, and you will find a janitor. The janitor takes care of all the small things the building needs to run, keeping it clean and tidy. Most of us never notice the janitor; unless we have an issue, we don’t interact with them.

Nevertheless, once a pipe bursts, a window cracks or there is a huge spill on the hallway we call the only person we know who can take care of the mess. The janitor contributes to our efficiency even if we don’t notice. Cryptocurrency markets are a lot like these buildings, but they do not have a resident janitor that can help them, until now.

CoinJanitor is the project that will take care of all the pipe bursts, cracked windows and hallway spills in cryptocurrency markets.

How does CoinJanitor Work?

So, what is the role of CoinJanitor in cryptocurrency markets, why is it relevant and how does it work? Let’s answer those questions in a succinct manner, one by one:

CoinJanitor’s role is to take care of failed or dead coins, cleaning them up in a manner that restores their value into wider cryptocurrency markets.

CoinJanitor is as relevant to cryptocurrency markets as a janitor is relevant to a building because by restoring value locked in failed or dead coins it will reduce market dilution, which favors top ranked cryptocurrencies.

CoinJanitor works by selecting specific coins that have failed or are functionally dead; contacting creators and community members; buying their coins out with the CoinJanitor token allowing them to transfer their value into the markets; burning the coins it bought from these community members and manually decommissioning the blockchains of those dead or failed coins afterwards.

Why Should Users Care?

Many people who do not hold any failed or dead coins, must be asking themselves “why should I care” after reading the short explanation above. The answer is rooted in fundamental economic principles:
Holders of top ranked coins benefit from this clean up because dead or failed coins have value locked in them, however small that value might be.

Holders of these coins cannot transfer that locked value into the markets, which takes away a source of growth from top ranked cryptocurrencies.

Once CoinJanitor unlocks the value of these coins through a swap into its token, it will be creating a large community of users with a network effect. These users will be able to sell their CoinJanitor tokens on an exchange and buy top ranked currencies with them.
This whole process will create positive externalities, or, in other words, a benefit for third parties – top ranked cryptocurrency holders – that are not directly involved in the dead-coin for CoinJanitor tokens transaction.

Why Should You Support CoinJanitor?

So, now that we established how running cleaner cryptocurrency markets is beneficial to everyone, it is important to explain why people should support CoinJanitor. After all, anyone who has a top ranked cryptocurrency should benefit from the positive externality without having to contribute. The answer lies, once again, in fundamental economic principles:

CoinJanitor contributors will become an integral part of a fast-growing community that amalgamates users from dead or failed coins throughout the market, creating a powerful network effect that adds value to the unlocked value coming from those dead or failed coins.

CoinJanitor will also produce troves of data regarding a deeply understudied segment of the market, which the staff in charge of the project will work diligently to organize for its members to use.

Contribute to CoinJanitor for the Sake of the Market

Other developments will follow as the CoinJanitor platform is rolled out, unlocking value from carefully selected dead or failed coins.
By opening the debate on dead and failed coins, the community will start benefiting even before the public sale of the CoinJanitor token begins on March 15th, 2018.

So, if you are interested, and you want to find out more about how we define dead or failed coins, how our selection process will work, and you want to gain a deeper understanding about the economic principles guiding this project or you want to contribute to CoinJanitor,
CoinJanitor will be doing all the dirty work and the heavy lifting for you, so you can enjoy a cleaner, more efficient cryptocurrency market with a better flow of value.

Media Contact
Name: 4KingMedia
Location: South Africa
Email: [email protected]

Visit the Website: https://www.coinjanitor.io
Read the Whitepaper: https://www.coinjanitor.io/wp-content/uploads/2018/03/CoinJanitor-White-Paper-v4.5.pdf
Subscribe on Facebook: https://www.facebook.com/Coin-Janitor-118743528936834/
Follow on Twitter: https://twitter.com/CoinJanitor
Chat on Telegram: https://t.me/CoinJanitor
Watch on YouTube: www.youtube.com/channel/UCXkaiV83H3gHy5DomxoZvGA

CoinJanitor is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest

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