99Bitcoins goes into battle against “dead cryptocurrencies”

The educational platform 99Bitcoins has taken over the deadcoins.com project to protect investors from insubstantial Altcoins.

On February 18, 2021 Ofir Beigel, founder of 99Bitcoins, announced a statement on his next big step

It says that the educational platform has taken over deadcoins.com . Deadcoins.com was launched in 2017 in response to the ICO boom at the time to document the death of hundreds of altcoins . The project consists of an open database in which the deadcoins are listed in order to inform investors about their existence. Every user can make entries in this database. In the past, deadcoins.com often had to deal with false reports. Bitcoin, for example, was entered in the database.

I think the Deadcoins project is a brilliant idea that needs some fine-tuning. The fact that anyone can add a dead coin by themselves made the list of coins very inaccurate. We spent days going through the full list and weeding out any coins that were sort of buried alive. For example, Bitcoin, Tron, Dogecoin and Tether are just a few of the coins that were listed when we took over the project.

Ofir Beigel, founder of 99Bitcoins

Deadcoins are characterized by the following properties:

Shitcoins and deadcoins: the difference

Shitcoins is a collective term for non-established altcoins with a very small market capitalization, little potential and high risk. The term Shitcoin is mostly used when it is assumed that a cryptocurrency has crashed. In contrast to deadcoins, shitcoins and their projects behind them are still active. The term deadcoins is to be taken literally. These are cryptocurrencies that are no longer active in the blockchain network. This often happened in connection with ICO fraud cases.

I think the community sometimes confuses a shitcoin with a deadcoin.

Ofir Beigel, founder of 99Bitcoins

99Bitcoins is working on an automated solution and filters to detect false reports. APIs to platforms like CoinMarketCap and CoinGecko help to control the entries. User-generated entries will still be possible, says Beigel.