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

[ReddCoin]

Edit: We change our mind, we are not doing that. Keep reading...

Hi everyone,

We had an idea so we could reward early investors and keep our IPO the same.

On february 1st at 11h59 PM PST, we will reward one of the early investor with a sum of 250,000,000 Reddcoins. Those will be on top of what he will receive when IPO close on February 15th.

The winner will be randomly selected and your chance of winning are according to the amount of shares you own on february 1st at 11h59 PM PST.

This will bring down the amount of coin available at the end to 5.2 billion.

Let us know what you think.

Reddcoin

[ReddCoin]

To be quite honest the ipo should finish the moment the coin is released..

Why should late adopter get the same amount of coins that early adopters get thats crazy and totally unfair..

Its like going to the bank and asking for a loan and then saying wait 2 weeks i will see if the interest rate goes down it is not right.....

I have invested before you have released the coin.. So my risk is much, much, much greater than after the coin is released..

So i think the amount of coins you get for becoming an investor before release should be a lot more than after the release date! Invest after the release to check the investment potential should reduced the coins you get by 40% to make it fair to pre release investors...

250,000,000 for one person whats to stop you saying investor 106 got the coins and you not giving them out? or giving them to a person on the dev team...  

thanks itsallpc

No it doesn't have to end before the coin is released. People usually invest in things that already exist and this is what we have decided to do. 2 weeks after coin release is still early investor. Rules were set and clear from the start, it would be unfair to change them.

We could livestream the result to prevent the possibility of cheating.

Reddcoin

[ReddCoin]

Does this mean as i am an early investor i can get a refund of my investment after the coin has been released? because its cheaper to buy? And if we can get a refund will you put the ipo funds in an escrow account untill the 15th and people have decided?

Also how many people on the dev team?

Why is it slow getting answers from the dev team?

Why does the dev team not reply to emails and pms in a quick manner even when they are online

why is this thread so small and not a lot of promotion going on before the launch of this coin?

I am an investor i sent you my investor number so i think i deserve some answers thanks loz

As with any IPO, we don't do refund. As state before, rules we're clear from the start. Why are you trying to change them?

I'm currently working alone full time on this project. We are planning to hire staff once the IPO close. We don't need a dev team to clone Litecoin, they already have one. Our development will be done on our infrastructure to interact with social networks, after the IPO is close. Please see our business development page for more info.

http://www.reddcoin.com/business-development/

We are planning to hired support staff. I'm currently doing my best.

It's not a race, coin is not even release yet. This is not a pump and dump coin. There will be a lot more promotion in the coming weeks.

Reddcoin

[ReddCoin]

The only rule i am trying to change is one..

Early adopters must get more than people who invest after the coin is released thats all i want to change after that i will try and invest more and help...

Otherwise i have just wasted my investment IMO

I understand your point but unfortunately, it's impossible to please everyone. As I state in previous post, there was no incentive to 1st or 2nd week adopters, it's a 4 week plan for everyone. I decided to add the 250,000,000 coins giveaway to please some of the early investor and it's the best we are willing to do.

Hopefully, you understand our point. We really hope you are willing to help us in this project as we will need the help of every investor.

Reddcoin

[Nullu]

Rewarding late investors over early investors just destroys your credibility as an IPO. You can do what you like, as it's your project, but I'm telling you, people aren't going to invest if they think the next person that comes along will get more coins than them at the whim of the developers.

Early investors take the largest risk, so they should be greater rewarded as they bare the greatest burden of risk. To undermine that destroys the very point of getting in early, and it will make people question investing in the future.

It's their money, and it is your project, but to undercut the early investors literally devalues their investment before your project even goes live. You know what? I'd be pretty livid too.

If person 1 pays 1btc for 1 million coins, and then person two comes along and pays 1btc for 2 million coins, you have basically halved the first person's investment. That's just an example, but you see the point.

[ReddCoin]

Ok let me think about this, maybe we can work something out.

Also, I would like to have more opinions on this, please reply.

Reddcoin

[Nullu]

There's no reason you can't have your cake and eat it. Early investors should be rewarded for investing early, but that does not mean you cannot use promotions or other incentives to attract further investment. It just has to be relative.

So 2nd stage investors get a bonus that won't be available to 3rd stage investors, however 2nd stage investors won't get more for their money than 1st stage investors. The reward shouldn't be vastly disproportionate either. Better to have many moderate winners than one or two massive ones.

[MsCollec]

OMG 250m RDD for one person, how is that fair. This is an IPO not a lottery and what stop the person that got the 250m not to dump the coins and again you already gave 0.1 BTC for 100 individuals as a giveaway who can sell the coins for less amount. Advise to potential investors, this is a fund raising for a project like on kickstarter not IPO. Lastly I want REFUND

[itsallpc]

OMG 250m RDD for one person, how is that fair. This is an IPO not a lottery and what stop the person that got the 250m not to dump the coins and again you already gave 0.1 BTC for 100 individuals as a giveaway who can sell the coins for less amount. Advise to potential investors, this is a fund raising for a project like on kickstarter not IPO. Lastly I want REFUND

INITIAL Investors have to have the very best deal and 1st stage investors taking the most risk have to have the best deal


although you also have to look at 300,000 coins per block 250m is not really a lot there are going to be billions of these coins like doge coin. this coin could and should with the right promotion etc fight with doge coin

[MsCollec]

OMG 250m RDD for one person, how is that fair. This is an IPO not a lottery and what stop the person that got the 250m not to dump the coins and again you already gave 0.1 BTC for 100 individuals as a giveaway who can sell the coins for less amount. Advise to potential investors, this is a fund raising for a project like on kickstarter not IPO. Lastly I want REFUND

INITIAL Investors have to have the very best deal and 1st stage investors taking the most risk have to have the best deal


although you also have to look at 300,000 coins per block 250m is not really a lot there are going to be billions of these coins like doge coin. this coin could and should with the right promotion etc fight with doge coin

Check the IPO result page http://www.reddcoin.com/ipo-result/ only one investor have 1billion, the rest are in millions. So yeah 250m makes a difference

[itsallpc]

OMG 250m RDD for one person, how is that fair. This is an IPO not a lottery and what stop the person that got the 250m not to dump the coins and again you already gave 0.1 BTC for 100 individuals as a giveaway who can sell the coins for less amount. Advise to potential investors, this is a fund raising for a project like on kickstarter not IPO. Lastly I want REFUND

INITIAL Investors have to have the very best deal and 1st stage investors taking the most risk have to have the best deal


although you also have to look at 300,000 coins per block 250m is not really a lot there are going to be billions of these coins like doge coin. this coin could and should with the right promotion etc fight with doge coin

Check the IPO result page http://www.reddcoin.com/ipo-result/ only one investor have 1billion, the rest are in millions. So yeah 250m makes a difference

its 833 blocks and a whale can eat that up himself also the dev has said he is going to look for a fairer system as well

[ReddCoin]

Hi everyone,

Because we really care about this project and we want the best for Reddcoin, we are bringing something else to the table. Let us know what you think.

We could split this IPO in 2 stages to reward really early investors. Stage 1 will close on february 1st at 11h59 PM PST before Reddcoin is released. Stage 2 stay the same and will close on february 15st at 11h59 PM PST.

Stage 1 reward: 1.1 billion coins

Stage 2 reward: 4.35 billion coins

This is a 25% premium for early investors.

On february 1st at 11h59 PM PST, we will take a snapshot of the database. All investors at the end of stage 1 will split 1.1 billion coins according to the amount of shares they own.

All those investors will stay in for stage 2 where we will distribute the rest of the IPO, 4.35 billion coins according to the same formula.

Every investor will still receive their coins during a period of 90 days after IPO close. This is done to protect the market.

Let us know what you think.

Reddcoin

[ymer]

Sent 4.7 BTC

[Nullu]

Sounds like a very good move. Nice work.

[northranger79510]

I would suggest if you are going to do the 250,000,000 giveaway on Feb. 1st, divide it into percentage so the highest investor gets the most while the lowest investor gets the least. Maybe 30% for top investor, 25% for second, 10% for third, etc. Rather than giving it to only one person....

[northranger79510]

The dev. is really making it hard to invest when there is no benefit to invest early.

[northranger79510]

The dev. is really making it hard to invest when there is no benefit to invest early.

there is a reason to invest early now this is from the dev

Hi everyone,

Because we really care about this project and we want the best for Reddcoin, we are bringing something else to the table. Let us know what you think.

We could split this IPO in 2 stages to reward really early investors. Stage 1 will close on february 1st at 11h59 PM PST before Reddcoin is released. Stage 2 stay the same and will close on february 15st at 11h59 PM PST.

Stage 1 reward: 1.1 billion coins

Stage 2 reward: 4.35 billion coins

This is a 25% premium for early investors.

On february 1st at 11h59 PM PST, we will take a snapshot of the database. All investors at the end of stage 1 will split 1.1 billion coins according to the amount of shares they own.

All those investors will stay in for stage 2 where we will distribute the rest of the IPO, 4.35 billion coins according to the same formula.

Every investor will still receive their coins during a period of 90 days after IPO close. This is done to protect the market.

Let us know what you think.

Reddcoin

I think it should be at least 2 billion for stage 1 and 3 billion for stage 2. I understand that after the coin is released more people will want in, but 1.1 billion divided by potentially 200-300 investors dilutes the funds a lot

[Keyser]

It is an improvement over the previous arrangement. 

[bluedude]

I think it should be at least 2 billion for stage 1 and 3 billion for stage 2. I understand that after the coin is released more people will want in, but 1.1 billion divided by potentially 200-300 investors dilutes the funds a lot

+1. But the current deal is much better than the initial one.

ReddCoin, Are the IPO investors just for the coins/investment or are you going to involve the investors in your coin's roadmap?
Also when are you planning to have the first social media transaction after releasing the coin?

Thanks

[MsCollec]

I think it should be at least 2 billion for stage 1 and 3 billion for stage 2. I understand that after the coin is released more people will want in, but 1.1 billion divided by potentially 200-300 investors dilutes the funds a lot

+1. But the current deal is much better than the initial one.

ReddCoin, Are the IPO investors just for the coins/investment or are you going to involve the investors in your coin's roadmap?
Also when are you planning to have the first social media transaction after releasing the coin?

Thanks

+1. Still need increase the current allocation for stage 1