Many of the dead coins are just a big joke, they were made with the intentions of not being the best or greatest currency. Or to just profit off a person name/reputation. Some coins also fall into the scam category due to the fact they used the name to stand out and pump the coin. Then soon after the developer will sell all his coins and abandon the project. This is why most coins are listed as abandoned projects.
Some of them are just made to take the piss. So are made to take the seriousness out of the currency in general. What you have to understand is the a currency does not have to please stock holders only do it’s job correctly. That job is mostly holding its value and being easy to spend on services and goods.
Funny enough that some of them have become semi successful like Dogecoin for example. Looking down the Marketcap Dogecoin is a top 50 coin. But Doge is a bad example as lots of hard work has gone into the maintenance and security of the coin.
An accurate guess is that over 90-95% of jokes coins end up dead, so before you invest in a joke coins make sure it is not a joke. If it is a joke at least make sure it has some top developers. Or you will have a huge chance to lose all of your investment.
Reasons that Joke coins are made
- For a laugh (AssPennies)
- To mock cryptocurrency (Trollcoin)
- To mirror a more serious coin (Useless Ethereum Token)
- To profit off a persons name (ObamaCoin)
Some top examples of Dead Joke coins
- Jesus Coin
- Useless Ethereum Token
As you can see the list of Joke coins is fairly long and we have only list some of the top ones with funny names, the list of dead coins below has other listed.
Now that we are in 2018 and knowledge of Crypto is growing vastly, it will be much harder for scam developers to profit off Joke coins. I predict much less coins will be made that will have joke name, or better put. Wont gain the traction needed to get list on exchanges and review site.
On Coinopsy, coins with joke names ranked below 500. Almost instantly get a dead coin listing. Due to the fact the currencies need to uphold some standard of reliability, trust and seriousness. Coins in the top 500 can have any name and we will (generally) not add them to the dead coin list due to getting in the top 500 you have to show larger amounts of reliability, trust and seriousness.
Table below filtered to joke projects only