Topic: How to Unlock the Millions Stuck in Dead Coin Portfolios (Read 173 times)

And that's the exact reason why ICOs have lost their credebility big time! I personally hold millions of deadcoins whose current market value is just a big ZERO. However, Coinjanitor is founded with this same very idea. If you have unused deadcoins, you can get in touch with them and they will issue CoinJanitor coin against your deadcoins which is trade-able in the market.

I have just contacted them for 2 millions of VAL (Valor bit). Let's see how they reply and how the deal goes!

"BAC" was a sad attempt to copy BARR.  Notice how soon they announced, right after we did, and they clearly hadn't put any time or thought into it.

Another one was DGCS Digital Credits.  They immediately got listed at CoinMarketCap and C-Cex, among other places, before they had ever burned a single altcoin.
Meanwhile CoinMarketCap wouldn't even respond to my messages.  Maybe they recognized that I didn't fit in with their bread-and-butter business of hyping scams to people.
Anyway, it was only a few weeks before the "dev" of Digital Credits dumped the entire 200 million premine down to 1 satoshi and disappeared. 

But you are incorrect that BARR isn't working now - it has never stopped working, and in fact you can go buy and sell it right now on the decentralized NXT Asset Exchange.
BARR can never be delisted from trading, as long as NXT exists.  So it works better than thousands of other altcoins.

We burned over 100BTC worth of altcoins in 2015 and 2016, and we redeemed that value in BARR which people were able to trade and sell.
In fact, the main problem was that we made it too good.  The price went up so fast, and everything worked so well, that almost everyone sold their BARR and made money.
Being a responsible dev, I didn't continue to burn more coins to generate new BARR when there weren't enough buy orders for another round of dumping.

People had been scammed so much that they automatically took whatever money they could get.
When they started making money with BARR, they probably remembered all the scam pump-and-dump coins that they believed in and lost money on.
BARR is the only coin that pumped and never dumped. 

BARR helped fixed the dying crypto markets of 2015, by getting people's investments back, allowing them to invest again, and reducing the number of altcoins crowding the markets.

Right now, BARR does everything other altcoins do.  It's held its value (priced in NXT) for 4 years. 
Are there any other altcoins that didn't crash a few times in the past 4 years?  BARR never did.
So when people talk about money - and crypto - being used as a store of value, BARR is better than most.

My advice to CoinJanitor would be to build enthusiasm among a dedicated group of people.
Get a Youtube channel, make a video every day, and livestream. 
People will send you Superchats, paying you money, just for you to read their comments onstream.
That gets them engaged and involved, and they want to make those numbers on the charts go up.
When the numbers go up, people can see that they've accomplished something.  It's the same with crowdfunding.

I didn't do that, when BARR launched. 
If we had gotten just a few people to hold their BARR and stay excited after the first profits,
BARR would have continued growing, burning more altcoins, increasing its marketcap, and drawing in even more users.
I had plans for accepting BARR for online purchases - I had websites set up to sell ebooks and music downloads;
but when it was all lined up, and I was ready to pay the devs to add BARR to their Wordpress crypto checkout plug-in,
that's when I found out they didn't accept credit card.  They only took crypto, of course.
But I had spent all my BTC supporting and building BARR.

Then when the boom happened, thanks in part to BARR, it left us behind.
But BARR still works like it always has, and I've recently made new plans to give even more purpose to BARR.
I'd love to see what CoinJanitor has planned too.

Coins that are not traded are worth exactly nothing. They are not traded because no one wants them, since they probably get them nothing in return.  3/4 of ICOs that happened over last few years had no serious product. Some smart closed down and return founds to token holders, others just did nothing and pay salaries to them self until ICO founds were spent.

Someone already tried it? Maybe the last chance to get atleast something from deadcoins?
Could you kindly tell us more about the price what we can get for example for tokens that had ICO value around 2000USD? I can´t even imagine, so please, give us an example.

I like the idea because I have a lot of dead coins in my eth wallet. What's in it for you though? I get the point that you wanted to clean the crypto market but how will this benefit you as a project? This might work in the short term but we may end up swapping dead coins for another dead coin (Jan) in the long term.

There are more who attempted actually that I have seen on telegram but like the two examples you showed, they ended up dead also.

You never know what coins will recover.  I have seen coins that were seemingly dead bounce back and do 10x-100x,no joke.  you just never know in crypto and those small caps are super easy to pump to the moon.

I remember two similar projects that have the same concept, they are not working now, and the devs are not posting here anymore about there project.
The first one was BARR  they launch their project way back 2015 BARR - Burning Altcoins for Redemption & Reduction
Raising the BARR by Reducing Supply
https://bitcointalksearch.org/topic/ann-barr-the-only-cryptocurrency-where-no-ones-ever-lost-money-1219460

and the other one was also launched 2018 it was actually a pre-launched but for some unknown reason it did not push through
Pre Announcement: Burn All Coins (BAC)
https://bitcointalksearch.org/topic/pre-ann-burn-all-coins-bac-1223028.

Will this kind of concept succeed? no one knows but all I know there are too many shitcoins in the market, and we are better off without them

This is a big risk that you would be taking upon yourself because I dint know how this can be possible, coins that are dead are dead and would not be active again except the developers of the project themselves revisit the project which they normally do when altcoins bull run starts.

That period is when I see most of these dead coins all rising back to life again in their own little way and anyone that is lucky enough to catch the pump can still be able to withdraw their funds, which is what I have been waiting for to see if I can be lucky to have some of my money back, but now that you have introduced this concept, I guess it is worth giving a thought, provided it gets me money, and for the coin that has not even entered exchanges, how do you intend to manage those ones also?

So coinjanitors work is clean up the mess of all other developers that have already make millions of dollars from the dead coins? how is coinjanitor going to survive when all dead coins are been swapped for JAN token? i think this is not going to be effective,to take something you have to give something back in return so coinjanitor is not taking anything or am i missing something??

There are over 2,000 cryptocurrencies in existence today, the majority of which do not present active value for their holders. These cryptos that present no value are responsible for a large amount of investment in the crypto market. In figuring out how to unlock the millions stuck in dead coin portfolios, one must revisit what happened around the 2017 ICO era.

How did Dead Coins come about?

Many of the investors whose funds are stuck in dead coin portfolios are those who rushed into the ICO market between 2016 and 2018. Others may have been involved before then. Unfortunately, while the 2017 ICO era brought a lot of awareness to the crypto industry, it was also a window for some negative developments. The aftermath is the millions stuck in dead coin portfolios.

Before this era, a number of projects had come into existence, even afterwards, more money has found its way into the crypto market. Placing this side-by-side with the number of dead coins being announced daily will give you an idea of the amount of wealth trapped in the crypto market.

The Impact of Dead Coins to the Crypto Market

The consequence of dead coins in the crypto market is enormous. It cuts across the investors themselves, and the market as a whole. These dead coins still have their data posted in the market and form part of the study tools for traders and investors. Therefore, beyond the risk borne by their direct investors, their influence on market analysis can be misleading.

Take for instance the popular coin listing platform, CoinmarketCap. It has over 2,400 coins listed on it at the time of writing. Majority of the altcoins listed there do not have sustainable network activity. Yet, because they are yet to overcome certain thresholds, they are still recognized as active cryptos. In reality, many of them are gone, and just this close to becoming officially declared as dead coins.
This development is why many people see cryptocurrency investments as a risky venture, especially with altcoins. Other factors include the lack of liquidity, dying communities and projects not finding necessary adoption. These factors leave investors stuck with tokens that they cannot get rid of.

How to Derive Value from Dead Coins

All that is about to become old news with the emergence of CoinJanitor’s rescue program. This is a program that is aimed at cleaning up the cryptocurrency market, and help to expose the true value of the market. For the crypto market to be sustained, there needs to be proper evaluation. This will be possible only when non-viable projects are removed from the ecosystem, thereby unlocking redundant assets.

Although this exercise is aimed at providing a lasting solution to the industry, it also serves as a restoration process for investors with locked funds. Investors that have put money into blockchain projects that have failed to deliver on promises. This group appears to be stuck with digital tokens that presently offer them no value whatsoever.

What CoinJanitor (https://www.coinjanitor.io) is doing is to help investors recover value by issuing them tokens from an active blockchain project. Tokens that have both immediate and sustainable value. The platform’s JAN tokens will be issued to victims of dead coins in exchange for the dead coins. This will enable CoinJanitor to burn the dead coins and clean up the crypto currency market.

While this happens, the investor can either trade their newly issued JAN tokens for Bitcoin, Ethereum or any other major cryptocurrency. They can also keep the JAN tokens and enjoy its own value. What is more important is that the ultimate goals are achieved, which involves cleaning up the industry and restoring value for investors.

This is how to unlock the millions stuck in dead coin portfolios!

https://coins.newbium.com/post/27804-how-to-unlock-the-millions-stuck-in-dead-coin-port