ReddCoin - The social media coin.

[wittaz]

What are your thoughts on ReddCoin? The social media coin.

This coin got my interest about a month ago and read some more things about it.

Basically, ReddCoin is used for tipping friends, family or people on social media. It “changes” the typical like button on Facebook (you are rewarding people for their posts with actual coins/money). You can tip on Facebook, Twitter, Instagram, Youtube, basically, any social media platform.

For me, I can see this turn into something really big. Tipping people for video’s on Youtube will slowly become a great feature.
It’s been getting a lot of new attention lately due to their next project coming out really soon: Redd-ID. People are extremely excited about this feature. Will it live up to its expectations? I hope so!
What this Redd-ID is: (quote from official Reddit page)

Reddcoin Redd-ID is a unique service provided at the blockchain level which allows a user to associate a username with rich information including public keys and social network identities
•   Redd-ID is a new blockchain-based naming service.
•   The service provides users the ability to create and own multiple user IDs (e.g. social, work or community) verified to a private address.
•   Each created ID is verified on the blockchain and linked to a Reddcoin address.
•   The Redd-ID can be used for sending and receiving Reddcoin to common names (Address-book).
•   User Redd-IDs are public and searchable.
•   A Redd-ID can include as much or as little profile information as the owner sees necessary (contact details, avatars, etc).
•   User profile details can be made public or private.
•   Within each user profile is the ability to link multiple social network identities (e.g. Facebook, Twitter, etc.).
•   Each social network identity can also have a separately assigned and individual Reddcoin address.
•   There is a cost for registering each Redd-ID.
•   The cost of registering is determined by a number of factors such as the length, mixture of characters, vowels, etc. (e.g. john.id > johnadam.id > john0001.id.)
•   Due to popularity, the cost of registering some short names (Joe, Tom, etc.) will be 6 figures or more (at current exchange rates).
•   Redd-IDs are verified in PoSV blocks, with active Reddcoin stakers supporting the registration service.
•   The majority of the registration fee paid for a Redd-ID will go to the wallet-holder who stakes and fully verifies the transaction.
•   Small stake holders have the potential to earn big rewards
•   A small percentage of the registration fee goes back to the network to support infrastructure.
•   Redd-IDs may be transferred between users (creating a potential marketplace).
•   Redd-IDs will have an expiration date and require renewal (terms between 1 and 5 years with discounting will be available).

The cool thing about Redd-ID is that you can tip EVERYONE. Even if they do not have a Redd-ID (or have never even heard of ReddCoin, or any other cryptocurrency in general).
You can send them your tip (for example 500 RDD, which equals to about $ 0,60 cents but in order for them to receive the tip, they will have to set up a Redd-ID. Let’s say I tip my favorite Youtuber 10k RDD ($ ~15) without them having a Redd-ID. They will not be able to accept this tip and collect their coins/money.
You can imagine this is going to spread like wildfire. 

Found a video from a few days ago from a guy that talks about ReddCoin, why it’s time to buy now.
https://www.youtube.com/watch?v=2e5mt31CmBg
I have to say, I agree with this guy. I bought a few coins a month ago when the price dropped a little bit, delved myself deeper in this coin and things are looking great. Such a great community and dev team!

Their Reddit is being very active lately.

A browser wallet is also being made which is currently in closed beta.

What do you think about this coin?

[YouShallNotPass]

Keeping an eye on this coin ! Seems like a good project.

[gadgetvn]

I bought 1000 RDD a few week at 117

[Inmydomain]

I'm not sure the take-up will be so great, maybe because the tipping culture is so different in the UK to the US but I can't see why people will tip for example on youtube if the content is there for free and you have to watch adverts. Additionally people will have to be very comfortable with crypto to want to use ReddCoin over a fiat currency alternative

[alyssa85]

Basically, ReddCoin is used for tipping friends, family or people on social media. It “changes” the typical like button on Facebook (you are rewarding people for their posts with actual coins/money). You can tip on Facebook, Twitter, Instagram, Youtube, basically, any social media platform.

I think they planned to enable tipping on all those platforms, back in 2014, but never got round to developing anything. They had a tipbot on reddit, but then went away and set up their own forum because they kept getting trolled on reddit. Which doesn't sound like a very social coin at all!

[Harry Callahan]

I think that all the coins without any cap can be compared as tip coins,doge coin is the prime example,you have unlimited number of coins and how that will make any impact when it comes to the price,what i think is RDD is just another alternative to doge coin.

[Wapinter]

Tipping for liking a post,comments or sharing etc is not a very good idea imo and thee are already some platforms who have implemented this like bigo for streaming.
I do not think the trend will last for long for nobody would like to waste their money on things they used to do for free.

[Red-Apple]

as for investment i don't like RDD because the supply of this coin is huge and the staking reward is also providing people with a big sell pressure on the market.

but as a project i actually like it. the developers always seemed so dedicated and "with a plan". their roadmaps are also good.

but i still don't get the social media part and how are you supposed to tip others. the only method i am familiar with is using tip bots on reddit. and as far as that is concerned it is offchain and equal for ALL cryptos.
for example this is a forum and considered a social media. how can i send you RDD? and what separates it from tipping any other altcoin.

[H88861]

I really like this coin because of the whole Proof of stake - it's really nice not having to (mine using asic or GPUs) to earn extra coins

[superskillz]

Ehh, Reddcoin seems like a blatant attempt to gain traction through people mistaking it for a relation to Reddit. The coin has no usage at this point -- what is the plan to get more widestream adoption?

[ChinkyEyes]

I invested in this coin two years ago, made 1000% profit but I cashed out because I don't think it will have any use in the future. Maybe I am wrong but I don't see this coin going to worldwide adaption. Because every coin can simply implement this feature once there is worldwide adaption.

[RandomEvent]

The idea is sound, how much adoption across markets you get will be the most important. Things don't have to catch on in the U.S. to be successful there are many markets out there. Right now its making people some good returns, right now that appears to be the main focus of crypto

[superskillz]

The idea is sound, how much adoption across markets you get will be the most important. Things don't have to catch on in the U.S. to be successful there are many markets out there. Right now its making people some good returns, right now that appears to be the main focus of crypto

Yes, but "gains" are not sustainable without *usage*. This coin is not currently used anywhere. Until then, it's a dud.

[wittaz]

I invested in this coin two years ago, made 1000% profit but I cashed out because I don't think it will have any use in the future. Maybe I am wrong but I don't see this coin going to worldwide adaption. Because every coin can simply implement this feature once there is worldwide adaption.

But Reddcoin makes it easier to actually "use" the coin (tipping other users) with Redd-ID. It's almost as simple as just clicking a button.
That's something other coins (afaik) don't have yet. You would need to other person's wallet address and then manually send them the tip/coins.

I still have high hopes for this coin. Let's just see what the future brings, or when Redd-ID launches. I am positive it will grow!

[Red-Apple]

I invested in this coin two years ago, made 1000% profit but I cashed out because I don't think it will have any use in the future. Maybe I am wrong but I don't see this coin going to worldwide adaption. Because every coin can simply implement this feature once there is worldwide adaption.

But Reddcoin makes it easier to actually "use" the coin (tipping other users) with Redd-ID. It's almost as simple as just clicking a button.
That's something other coins (afaik) don't have yet. You would need to other person's wallet address and then manually send them the tip/coins.

I still have high hopes for this coin. Let's just see what the future brings, or when Redd-ID launches. I am positive it will grow!

i still don't get how it makes it easier though.
and a quick research shows that Redd-ID is a future feature not yet implemented.
and also you will still need a wallet a reddcoin address and you have to additionally take another step for creating that Redd-ID and register it which will also only last a year!

so why go through all that trouble and not just implement BIP21 of bitcoin. a simple link which people click on or a QR that they scan and their wallets open up and ready for them to just click send in order to tip!

[MRlong]

"The social media coin" haha! Are you kidding me? I not see this coin have function can help facebook, twitter and instagram or other social. Why not use Bitcoin or other altcoin have strong system and fasting than RDD as DGB, XRP ... for social. Or if facebook want have crypto for their social, they can use technology blockchain and creating new crypto anytime not need use other altcoin on market, very easy with their team

[superskillz]

"The social media coin" haha! Are you kidding me? I not see this coin have function can help facebook, twitter and instagram or other social. Why not use Bitcoin or other altcoin have strong system and fasting than RDD as DGB, XRP ... for social. Or if facebook want have crypto for their social, they can use technology blockchain and creating new crypto anytime not need use other altcoin on market, very easy with their team

Sorry, but I think they should rename Reddcoin to...Deadcoin.

[The Sceptical Chymist]

"The social media coin" haha! Are you kidding me? I not see this coin have function can help facebook, twitter and instagram or other social. Why not use Bitcoin or other altcoin have strong system and fasting than RDD as DGB, XRP ... for social. Or if facebook want have crypto for their social, they can use technology blockchain and creating new crypto anytime not need use other altcoin on market, very easy with their team

Sorry, but I think they should rename Reddcoin to...Deadcoin.

I agree.  People have been trying to pump it here periodically but it's just another garbage coin that no one really uses or even wants.  There's no way it's going to maintain any long term value.  Doge can do what rdd does and it can't even sustain a price above 100 satoshis.

[RewFrew]

If one day it gonna pass the last high, its gonna be from at least 3months from now..

[unusualfacts30]

Reddcoin was great back in the day when it was at 15 sat but then the developer left I think, I haven't checked it ever since.