According to Mirriam-Webster, one of the definitions of the word ‘Republic’ is: a body of persons freely engaged in a specified activity.
But as the case with any ‘Republic’ they only function well when people are freely participating in them.
…and it seems that Republic coin is falling apart at the seams less than a week after it’s original launch date on June 30.
Like most new altcoin releases, RepublicCoin didn’t go off without a hitch or two - you know the usual type of stuff - block counts being off, Orphaned blocks, difficulties in retargeting, pools being down - to which the dev responded - “I like to concentrate on the positive of 5800 confirmed. Gotta break a few eggs to make an omelet.”
While the original dev promised a SHA256 Altcoin that would be “Created for the people by the people for world wide use” forces beyond his control forced him to instead “leave it to the people.”
In fact, he announced his departure from the project one day after Republic Coin launched.
Here’s a copy of his public statement/announcement/apology:
Attention all. With a very heavy heart I have had some terrible news hit me with regards to a family matter that involves an attempt on a life for somebody that needs some serious help. I will not be able to dedicate as much time as I have hoped to this coin. As you can see this coin is in its very infancy so in someways I am glad that this did not happen right in the middle of huge explosions. This coin can still be a GREAT coin with the right driving force behind it and a team that is willing to listen to the community.
The Republic Coin was always designed to be a pay it forward type of coin that gave back to the community and to release a SHA256 that all could enjoy.
I am hoping that a developer in the community will want to pick this project up and run full speed with it. I have put about $150 into this coin for the creation, resources and time (My time which I put a very low number on because I enjoy the work.)
If you know anybody that might be interested in this please let me know or have them PM me directly and quickly. This event that has come to life in my personal matters is forcing me to even put my own company on hold so that I can give the much needed attention to the issue at hand. I have always considered the crypto society like family and will be sad to have to step away from it even if on a temporary basis.
I have learned much from this coin in the short time. Planning, Social Media, Launches, Contacts and taking care of those that support you are huge factors and all that goes into the creation of something to last for years with hard work. By no means will I ever have less than appreciation for the coin creators / devs, pools, exchanges and users that keep a coin going. I know that the community with failed coins tend to really frown upon matters like this, however I hope all can understand this is truly out of my control and would like it pass the torch on to the next that can carry this coin to success. I will always remain one of the supporters and have spread the word to many groups around the country that are eagerly watching it and want it.
Thank you for all of your support and hope that this can continue by an interested party that is willing to contact me.
The one mining pool that supported RepublicCoin was closed down today because they couldn’t get the wallet to synch and they were unable to start the pool.
RepublicCoin is still available for trade at Alcurex, but there’s little volume and a large disparity in buy and sell orders, making the future of this Republic look not so bright.
Only time will tell if another dev is willing to step up to the plate and give it his best shot at a revival or if this is yet another coin destined to go the way of the Titanic.
What are your thoughts? Is this one worth saving?