[ANN][RDD] Reddcoin The Social Currency [PoSV] Electrum Wallet 1.0.2

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[ReddCoin]

Hi everyone,

We have decided to make some change to Reddcoin and here they are:

Block halving rate: Change from 525,600 to 500,000.

This was done to have a total coin before IPO and rewards of 100 billions.

Then, we decided to up our IPO offering to 5% as requested. This will bring the total coins available in the IPO TO 5.45 billions.

To make sure we get the needed support from miners during the first month, we decided to implement special block rewards for the first 30,000 blocks.

Special block reward

Block 0 - 9,999 = reward 300,000 coins
Block 10,000 - 19,999 = reward 200,000 coins
Block 20,000 - 29,999 = reward 150,000 coins
Block 30,000 and over = reward 100,000 coins

This bring the total coin to 109 billions.

We also decided to implement the Kimoto's gravity well as a way to retarget difficulty each block and fix once and for all the recurrent problem with hashrate changes.

https://forum.megacoin.co.nz/index.php?topic=893.0

Let us know what you think.

Reddcoin

[MsCollec]

looking forward to the launch but there's no bonus for early investors
Lastly, Consider closing the IPO on the Feb 2 launch since the miners can start selling RDD to interested individuals and also having a prolong IPO will reduce the demand for RDD at the exchange and BTT trading thread.

[dzarmush]

looking forward to the launch but there's no bonus for early investors
Lastly, Consider closing the IPO on the Feb 2 launch since the miners can start selling RDD to interested individuals and also having a prolong IPO will reduce the demand for RDD at the exchange and BTT trading thread.

I agree. Risk should be rewarded. IPO should be closed on Feb 2, before release.

[ReddCoin]

We have decided to let our IPO run for two more weeks after we release the coin. This way, you will be able to judge the value of our work and decide at the last minute if you want to participate. It's a speculative investment. If you don't think our project will work, don't invest.

IPO closing date is fix in concrete. It give you more info before deciding to invest.

Reddcoin

[bluedude]

looking forward to the launch but there's no bonus for early investors
Lastly, Consider closing the IPO on the Feb 2 launch since the miners can start selling RDD to interested individuals and also having a prolong IPO will reduce the demand for RDD at the exchange and BTT trading thread.

I agree. Risk should be rewarded. IPO should be closed on Feb 2, before release.

+1. Then you could get to the exchanges, once the IPO is finished.

[northranger79510]

I agree. I would invest but since there is no benefit for early adopters I am not going to.

[templebar]

Interested. But where's the reward for early investors?

May be you should consider two tier reward structure.
One which closes on launch date and the other one two weeks after the launch for less risky people

[ReddCoin]

Early investor are the one taking part in the IPO. We only have 1 step of investor and registration close on february 15th.

Thank you for your interest.

Reddcoin

[MsCollec]

Interested. But where's the reward for early investors?

May be you should consider two tier reward structure.
One which closes on launch date and the other one two weeks after the launch for less risky people

Good idea but the RDD/BTC ratio is not set, all investors are sharing from the 5% premine so eventually the rewards will drop as more people invest in the IPO and this is not a second generation coin but a clone. It might be cheaper to buy after the launch from miners than falling for the dev get rich quick scam.

[templebar]

Early investor are the one taking part in the IPO. We only have 1 step of investor and registration close on february 15th.

Thank you for your interest.

Reddcoin

Early investors are the ones who invest before the coin is released IMHO.
Once the coin is released, I could mine it, buy it from miners etc.

If the miners start selling coins, cheaper than your current list of investors, how would you justify their risk?
Its your coin and its your decision, but you are turning away some of the IPOs, because of this I believe.

Thats my 2 cents.

I am a risk taking person and if there is clear cut advantage for an early investor, I would try my luck.
But I dont see that in this one.

[ReddCoin]

Good idea but the RDD/BTC ratio is not set, all investors are sharing from the 5% premine so eventually the rewards will drop as more people invest in the IPO and this is not a second generation coin but a clone. It might be cheaper to buy after the launch from miners than falling for the dev get rich quick scam.

Closing the IPO on february 15th will allow you to do that. If we close on february 2nd, you have no idea what the value could be. If you can buy Reddcoin cheaper after the launch, don't join the IPO.

Reddcoin

[templebar]

Interested. But where's the reward for early investors?

May be you should consider two tier reward structure.
One which closes on launch date and the other one two weeks after the launch for less risky people

Good idea but the RDD/BTC ratio is not set, all investors are sharing from the 5% premine so eventually the rewards will drop as more people invest in the IPO and this is not a second generation coin but a clone. It might be cheaper to buy after the launch from miners than falling for the dev get rich quick scam.

The ratio is not set.But you could set aside 3B for investors upto launch and 2B for the next two week investors right?

[northranger79510]

Or even close early. Close on Feb. 3rd so that people who are interested and are less risky taker than before launch could still get in instead of Feb. 15th...too long

[bluedude]

I know REDDCoin is doing it with good intentions to convince people that its not a scam coin.

But from an investors point of view, this is bad.
For example, I invest x amount today.
If the coin generates good interest, more people will invest and I could see my investment value deteriorates over the two weeks period.
And if the coin doesnt generate any interest, then naturally I will lose my investment too.

So its a Fail/Fail for early investors with the current scheme.

[langkeming]

good, I will have a try

[mike2001]

i think 3% is enough.
For long-term development

[superduh]

ummmm

[pwns]

I will give it a try

[Keyser]

The investor going in before mining starts are definitely taking more risk than those that wait to see how the launch goes.  Maybe a higher cut for those in before Feb. 2 is a good idea.