Failed Crypto Projects Get Final Resting Place In Altcoins Graveyard

Journalist:
Samantha Chang @Samantha_Chang
June 16, 2019

By CCN Markets: Failed cryptocurrencies can enjoy an eternal resting place after they’re sent off to an altcoins graveyard called ShitcoinGraveyard.

The website is the brainchild of four Berlin-based crypto entrepreneurs and bitcoin bulls:

  • Roman Kemper, CEO and chief gravedigger.
  • Marten Rauschenberg, DAO mastermind.
  • Yannick Eckl, marketing director.
  • Christoph Klischan, chief financial officer.

Kemper told CCN that his team was inspired to launch ShitcoinGraveyard amid the 2018 ICO market implosion. During that time, crypto investors lost millions of dollars in numerous ICO scams.

From left to right: Yannick Eckl, Marten Rauschenberg, Roman Kemper and Christoph Klischan. | Source: Sh*tcoinGraveyard

ICO Death Spiral Inspired Graveyard Idea

Kemper says the idea of ShitcoinGraveyard was born in the depths of that market collapse. At the time, he was alarmed by the lack of information about sham ICOs.

He also felt there was a need for comic relief for the crestfallen newbs who had lost money betting on worthless altcoins.

“With all the shitcoins piling on — going to almost 1,000 different bad investments — we felt there was a need for a sh*tcoin graveyard that can provide comic relief for the rekt shitcoin holders and educate at the same time. Never forget: Don’t give a sh*t! Except if you are visiting our site.”

Team Compiled a Database of 4,000 Cryptocurrencies

Yannick Eckl, ShitcoinGraveyard’s marketing director, told CCN that his team has compiled a database of 4,000 cryptocurrencies. Of those, roughly 900 are “dead” based on their cratering trading volume and dismal social media buzz.

“The world needs a place for all the dead cryptocurrencies and tokens to rest in peace,” Eckl says. “The last honor for exit scams, rekt coins, tokens, and digital cloud-castles — a place where rekt sh*tcoin holders get entertained and educated while waiting for the moon.”

Sh*tcoinGraveyard’s mission is to educate and entertain the crypto community about sham coins. | Source: Sh*tcoinGraveyard

‘We Invite You to Laugh’

In addition to conducting funerals for dead altcoins, ShitcoinGraveyard also monitors existing cryptocurrencies to assess their chances of ending up dead.

Obviously, it’s understandable for someone to get upset if they lose money on crypto. However, Roman Kemper, Yannick Eckl, Christoph Klischan, and Marten Rauschenberg want their audience to be amused and entertained by the wonderful, quirky world of cryptocurrencies.

“Ultimately, we hope to have a positive impact on the whole cryptocurrency ecosystem. And we invite you to laugh along the way. We will bring satire to an already ridiculous genre and leave no stone unturned when it comes to sh*tcoins and scammers.”

One cryptocurrency you shouldn’t expect to see in the ShitcoinGraveyard anytime soon is bitcoin. The crew are bitcoin bulls. Like others, they believe that the rumors of bitcoin’s demise are greatly exaggerated.

Crypto-Sphere Skeptical of Facebook’s Libra Coin

However, it wouldn’t surprise Yannick if Facebook’s overhyped Libra “cryptocurrency” experienced an untimely demise.

“It’s funny how everybody thinks it will be a massive boost for bitcoin,” Eckl says. “I don’t even see it as a real cryptocurrency.” Neither do many others in the crypto-sphere.

According to an informal Twitter poll conducted by Van Eck’s Gabor Gurbacs, 79% of 2,900 voters do not trust Facebook’s Libra coin as compared to payment services offered by traditional banks.

Many crypto fans do not trust Facebook and its over-hyped Libra coin. | Source: Twitter

This article was edited by Samburaj Das.

Last modified (UTC): June 16, 2019 23:43

Samantha Chang @Samantha_Chang

Samantha Chang is a New York City-based financial editor who writes about crypto and business at . She is a law school grad and an alum of the University of Pennsylvania. You can reach her on Twitter at Samantha Chang or email her at schang121@juno.com.