Thoughts On RDD (Reddcoin) - Price/Volume Surge + Viability

[badenglishtea]

Anyone got any thoughts on RDD (Reddcoin)? Price (50%) and volume (175+ BTC) surged this morning, buy support has tripled, and daily Reddcoins transaction volume is moving (20% market cap).

Before I start I want to note I am holding 125MM RDD. RDD is one of my top-ten holding cryptocurrencies (I am holding pretty much everything top 25 market cap). I participated in the IPCO and mined RDD, before RDD innovated POS-V and transitioned. Price high (38 SATs) happened post-transition, then development slowed down. It does appear that development has picked back up and there looks to be tangible progress on a few fronts. Also I am not recommending you buy altcoins including RDD; don't buy what you can't afford to lose tomorrow.

Social Currency
Does anyone think a social currency or a social tipping currency has any viability? I like DOGE, but I think the lack/immaturity of the brand is a problem. The community is awesome, but I could not see someone sending a Dogecoin to a YouTube video creator as a 'tip'. I think 'social' needs to advance beyond 'likes', and I think once advertising and publishing and paywalls come to a head, something will happen very quickly. Advertising pays for content, and I think micropayments can replace revenue generated for content producers by microtipping by content consumers. I think there is a huge space beyond e-commerce as micro value transfer.
I think it needs to be a crypto with a lot of supply (BB not MM), so that I could buy a few hundred coins for a few bucks, and give a coin a day to my favorite publisher.
What does everyone think about this application? Do you think social, or content tipping, or publishing tipping has any viability?

Issues
I think there are a number of issues with RDD.
1. Initial issues with distribution, and some people may never be able to get over the fact there was a IPCO.
2. The initial developer left the project, and there was some infighting amongst the main developers.
3. The community is smaller (although the core-team appears to be more focussed now).
4. I am not sure about the name Reddcoin. I think people confuse it with Reddit?

Development
RDD appears to have a pretty solid development roadmap focussed around RDD-ID. Basically a decentralized web wallet that can connect to people's social accounts to support peer-to-peer username tipping. I think there is solid value to this, and a big innovation. The developers appear to still be discussing fee structures, and testing, but it looks almost ready?

Thoughts? I could offload all my RDD today and make a solid return. Any long term value here?

[Red-Apple]

i don't really get RDD
long ago i checked the technical stuff and really saw what you said in Development part at the end about the solid roadmap but what i have seen so far out of it is that the price has only been going down (like a dead coin!!).

but the price has been going up for a while from 5 to 10 satoshi which is massive profit for those who have bought!!!

[alyssa85]

The "social" side of that coin pretty much died when Reddcoin moved away from Reddit because it couldn't handle the trolling (which is an integral part of social). I mean, it was named after Reddit, so to throw in the towel like that was crazy.

It's advantage over Doge was that it was PoS, so a holder could earn some coins, whereas holders of Doge can't.

BUT - look at the set-up on Poloniex:

https://poloniex.com/exchange#btc_rdd

Look at the walls: 13 BTC, 19 BTC

It was the same when the coin was on Cryptsy - outside of a pump, it barely moved because of the thickness of the walls. I had a sell order once that took three weeks to execute, because the walls were so thick.

Why are the walls so thick? It's because some speculators are playing the 1 satoshi game. Set a buy order at say 10 sats, when it executes, set a sell order for 11 sats. When that executes, you have made a 10% profit. But of course you are relying on someone else to buy at 11. They might buy hoping the price goes up - but the chances of it happening are very low, due to the thickness of the walls.

Basically the coin's potential has been ruined by some whale playing the 1 satoshi game.

[badenglishtea]

https://poloniex.com/exchange#btc_rdd

Look at the walls: 13 BTC, 19 BTC

It was the same when the coin was on Cryptsy - outside of a pump, it barely moved because of the thickness of the walls. I had a sell order once that took three weeks to execute, because the walls were so thick.

Another high-volume day yesterday. RDD hit 21 SATs and 900 24-hour BTC trade volume. What is going on? Is this just a dedicated pump and dump scheme?

[alyssa85]

https://poloniex.com/exchange#btc_rdd

Look at the walls: 13 BTC, 19 BTC

It was the same when the coin was on Cryptsy - outside of a pump, it barely moved because of the thickness of the walls. I had a sell order once that took three weeks to execute, because the walls were so thick.

Another high-volume day yesterday. RDD hit 21 SATs and 900 24-hour BTC trade volume. What is going on? Is this just a dedicated pump and dump scheme?

Yup. Pump and dump. Did the same thing back in 2014.

[BitcoinNational]

RDD was crappy in the beginning and wanted to be the "Reddit Coin"
Pumpy Dump sat on a great wall.

Now what 2 years?  It has volume, or at least deep supports, and has made a switch to POS.

In reality it likely could go back over to Reddit and tip the Carp out of that place.

Being a solid 50satos coin is a possibility.

[alyssa85]

RDD was crappy in the beginning and wanted to be the "Reddit Coin"
Pumpy Dump sat on a great wall.

Now what 2 years?  It has volume, or at least deep supports, and has made a switch to POS.

In reality it likely could go back over to Reddit and tip the Carp out of that place.

Being a solid 50satos coin is a possibility.

RDD switched to POS in August 2014. And that caused it's first pump back in 2014.

PoS is not a new development. They haven't really "gone back to reddit", the sub is kinda quiet, they're not really tipping over there. This is just a pump, it hadn't had one for a while and it was their turn...

[BitcoinNational]

Pump or a leg up?
Time will tell.

[bigs21024]

you never know but i have not bought it i dont see it but then again it could be $1 tomorrow

[The Sceptical Chymist]

The "social" side of that coin pretty much died when Reddcoin moved away from Reddit because it couldn't handle the trolling (which is an integral part of social). I mean, it was named after Reddit, so to throw in the towel like that was crazy.

It's advantage over Doge was that it was PoS, so a holder could earn some coins, whereas holders of Doge can't.

BUT - look at the set-up on Poloniex:

https://poloniex.com/exchange#btc_rdd

Look at the walls: 13 BTC, 19 BTC

It was the same when the coin was on Cryptsy - outside of a pump, it barely moved because of the thickness of the walls. I had a sell order once that took three weeks to execute, because the walls were so thick.

Why are the walls so thick? It's because some speculators are playing the 1 satoshi game. Set a buy order at say 10 sats, when it executes, set a sell order for 11 sats. When that executes, you have made a 10% profit. But of course you are relying on someone else to buy at 11. They might buy hoping the price goes up - but the chances of it happening are very low, due to the thickness of the walls.

Basically the coin's potential has been ruined by some whale playing the 1 satoshi game.

Good explanation.   Yobit is giving this one away and it really is a shitcoin.  I see a lot of that 1 satoshi game being played, and that's basically all the utility those coins are ever going to have--they're speculative instruments and sucker bait.

[luis77]

do you know what happened to RDD on Polo looks like it goes to zero an then i cant withdraw nor anything   

[teasider]

do you know what happened to RDD on Polo looks like it goes to zero an then i cant withdraw nor anything   

On January 4th 2017, the following markets will be delisted: MMNXT, BITCNY, NBT, DIEM, LTBC, RDD, XST, XCN, XDN, SYNC, CGA, GEO, BLOCK, 1CR

its ded yo

[alyssa85]

Poloniex has delisted it - you can still trade it on Bittrex, but I think to all intents and purposes this coin has died.

[anks]

it isnt dead they wanted to make some updates... dev is still active the forums, too
www.reddcointalk.com

[btcYoshimitsu]

On the mail sometimes come news. I liked this coin even more than Doge.

[talkbitcoin]

it isnt dead they wanted to make some updates... dev is still active the forums, too
www.reddcointalk.com

well if you want to call a coin which is worth 2-3 satoshi and the volume has declined quite a bit an alive coin then that is your thing.

but generally when the price declines this much and this hard, and then there is not really any good usage for the coin and then on top of that there is a huge supply available out there, we consider the coin dead and it will continue going down with no hope of reversal apart from a faint possibility of a short term pump and then death.

[anks]

the supply is too big to get moved up that easy. the coin is still active in the exchanges there are still buys and sells



it was in a cryptocollider tournament


its not dead as you say but you are right with no usage. its supposed to be a social currency but its still not.
the dev wanted to release a software special for that (redd-id) but he needs help thats why he doesnt hold the promises for the roadmap.
but he opened a slack here: http://redd.ink:3000/



deeper than it is it cant get its only worth 3 sats
i for myself hold 20mill rdd. 3 sats is stable. when btc price moves up rdd ist worth more. 3sats are 3sats.

[HongKong]

Reddcoin is pretty old, back in the days I thought that it had potential. It was double digit sats and the price kept going down from that price range.

I don't think that RDD has any hope for popular interest.